Do the rich earn their income?

[Mr.Nick]

Yes, I understand how the hockey salary cap works.

I'm not sure how I feel about whatever analogy you might come up with given that you don't understand how our current tax system works but have at it.

Much like a front loaded contract is 10mil and 8 years later its 2 - the cap hit is the same, despite what you're paying in actual salary.

A guy could have a cap hit of 5.2 like Hossa but could be making 750k or 10 million in actual salary, but the guy paying the salary (taxes) still has a cap hit of 5.2..

Get it?

I understand that the cap hit a team takes for a player is the average salary per year for the entire length of the contract. But I'm not tracking how you are applying that to our tax system based on what you posted.

My point is there are MANY deductions and penalties that must be factored into the gray "250k" alleged "code."

I mean a family with 10 kids making 250k would take home more than a single male making 270..

Factor in assets, depreciation of those assets and other factors..

I suppose what I'm trying to assert with the cap analogy is that what you make is extremely deceiving and the tax code only sees the bottom line.

Besides taxes are illegal anyways...

 

[Mr.Nick]

Hell, a 30 year old guy making 200k a year could go out and live like a king and buy on the finest things in life on credit and find himself paying more in taxes than the family bringing in 250-300.

It's not about what you earn - its about your capital and who you are...

 

[Article 15]

Much like a front loaded contract is 10mil and 8 years later its 2 - the cap hit is the same, despite what you're paying in actual salary.

A guy could have a cap hit of 5.2 like Hossa but could be making 750k or 10 million in actual salary, but the guy paying the salary (taxes) still has a cap hit of 5.2..

Get it?

I understand that the cap hit a team takes for a player is the average salary per year for the entire length of the contract. But I'm not tracking how you are applying that to our tax system based on what you posted.

My point is there are MANY deductions and penalties that must be factored into the gray "250k" alleged "code."

I mean a family with 10 kids making 250k would take home more than a single male making 270..

Factor in assets, depreciation of those assets and other factors..

I suppose what I'm trying to assert with the cap analogy is that what you make is extremely deceiving and the tax code only sees the bottom line.

Besides taxes are illegal anyways...

Ah, you are talking about just income and not taxable income. Naturally, individual differences in deductions will tweak the bottom line taxable income number. Once that number is calculated, however, the tax rates paid are still based on the progressive bracket rates. The person making 250k in taxable income wouldn't pay 39% on that whole sum. Dollars 1-250k would pay the bracketed rates dollar for dollar and every dollar over 250k would pay at that new bracket rate of 39%. Which is why I said the person making 250k would see no tax increase if that bracket were created.

Taxes are legal. Don't be silly.

 

[Sallow]

According to the IRS, the answer is mostly not.

Of the richest of the rich only 6.5% of income was from working, as of 2007. The rest came from things like interest, dividends, and capital gains.

In other words, the kind of income you get without having to wake up in the morning.

Which raises the question: if the rich are consuming without working, who is doing their work for them?

Link

Ah Geez--You can walk down your own main street. You will see doctors/dentist's office's--the guy who rebuilds car engines--your auto mechanic--your construction company--from A to Z--who bust their butts every single day of the week to bring a necessary service to this country and you. They are called small business people in this country and are also known as the largest employer of it.

The PRESIDENT you voted for--decided to attack these same small business people with his continual and on-growing threat that if they make 250K per year--he is going to throw them into the exact same tax bracket (39%) which is exactly what multi-billion dollar corporations pay. If you add in state and local taxes--you are taxing the hardest working, most innovative people in this country 50% or .50 cents on every dollar they earn.

This is the economic terrorist you have elected. And then your Harvard graduate--community organizer--most intellectual President ever--wonders where the "jobs" are?--

Small business in this country has tucked in like a turtle and is waiting for the threat to leave. And that threat is Barack Obama. Not everyone that earns 250K per year pushes a button and works on 2 blocks of lower Manhatton in New York City--Da--Duh.

How exactly did Paris Hilton become rich? Or for that matter, Donald Trump?

 

[Sallow]

Much like a front loaded contract is 10mil and 8 years later its 2 - the cap hit is the same, despite what you're paying in actual salary.

A guy could have a cap hit of 5.2 like Hossa but could be making 750k or 10 million in actual salary, but the guy paying the salary (taxes) still has a cap hit of 5.2..

Get it?

I understand that the cap hit a team takes for a player is the average salary per year for the entire length of the contract. But I'm not tracking how you are applying that to our tax system based on what you posted.

My point is there are MANY deductions and penalties that must be factored into the gray "250k" alleged "code."

I mean a family with 10 kids making 250k would take home more than a single male making 270..

Factor in assets, depreciation of those assets and other factors..

I suppose what I'm trying to assert with the cap analogy is that what you make is extremely deceiving and the tax code only sees the bottom line.

Besides taxes are illegal anyways...

Um..

Section 8 - Powers of Congress

The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;

Why do you think the Constitution of the United States..is illegal?

Do you hate America that much?

 

[editec]

According to the IRS, the answer is mostly not.

Of the richest of the rich only 6.5% of income was from working, as of 2007. The rest came from things like interest, dividends, and capital gains.

In other words, the kind of income you get without having to wake up in the morning.

Which raises the question: if the rich are consuming without working, who is doing their work for them?

Link

Ah Geez--You can walk down your own main street. You will see doctors/dentist's office's--the guy who rebuilds car engines--your auto mechanic--your construction company--from A to Z--who bust their butts every single day of the week to bring a necessary service to this country and you. They are called small business people in this country and are also known as the largest employer of it.

The PRESIDENT you voted for--decided to attack these same small business people with his continual and on-growing threat that if they make 250K per year--he is going to throw them into the exact same tax bracket (39%) which is exactly what multi-billion dollar corporations pay. If you add in state and local taxes--you are taxing the hardest working, most innovative people in this country 50% or .50 cents on every dollar they earn.

This is the economic terrorist you have elected. And then your Harvard graduate--community organizer--most intellectual President ever--wonders where the "jobs" are?--

Small business in this country has tucked in like a turtle and is waiting for the threat to leave. And that threat is Barack Obama. Not everyone that earns 250K per year pushes a button and works on 2 blocks of lower Manhatton in New York City--Da--Duh.

How exactly did Paris Hilton become rich? Or for that matter, Donald Trump?

Both started out wealthy and both continued to make more money.

Of the two Paris seems to me to be the more productive and creative earner.

I understand that her businesses generate tens times as much money annually as she inherited in total from her family fortune.

And just think she mostly owes her celebrity (which is what she's capitalized on to create her fashion businesses) to a SEX TAPE.

Smart girl, that.

She certainly turned THAT lemon into lemonade.

 

[G.T.]

Besides taxes are illegal anyways...

That's pretty fucking stupid.

 

[Sallow]

Did they steal it from you?

Some did.

Please elaborate.

Bernie Madoff?

 

[Si modo]

According to the IRS, the answer is mostly not.

Of the richest of the rich only 6.5% of income was from working, as of 2007. The rest came from things like interest, dividends, and capital gains.

In other words, the kind of income you get without having to wake up in the morning.

Which raises the question: if the rich are consuming without working, who is doing their work for them?

Link

Ah Geez--You can walk down your own main street. You will see doctors/dentist's office's--the guy who rebuilds car engines--your auto mechanic--your construction company--from A to Z--who bust their butts every single day of the week to bring a necessary service to this country and you. They are called small business people in this country and are also known as the largest employer of it.

The PRESIDENT you voted for--decided to attack these same small business people with his continual and on-growing threat that if they make 250K per year--he is going to throw them into the exact same tax bracket (39%) which is exactly what multi-billion dollar corporations pay. If you add in state and local taxes--you are taxing the hardest working, most innovative people in this country 50% or .50 cents on every dollar they earn.

This is the economic terrorist you have elected. And then your Harvard graduate--community organizer--most intellectual President ever--wonders where the "jobs" are?--

Small business in this country has tucked in like a turtle and is waiting for the threat to leave. And that threat is Barack Obama. Not everyone that earns 250K per year pushes a button and works on 2 blocks of lower Manhatton in New York City--Da--Duh.

How exactly did Paris Hilton become rich? Or for that matter, Donald Trump?

Jealous?

 

[Conservative]

According to the IRS, the answer is mostly not.

Of the richest of the rich only 6.5% of income was from working, as of 2007. The rest came from things like interest, dividends, and capital gains.

In other words, the kind of income you get without having to wake up in the morning.

Which raises the question: if the rich are consuming without working, who is doing their work for them?

Link

right. Every rich person woke up one morning after being poor the night before, and found themselves magically rich. No effort involved at all.

 

[G.T.]

In my world, the whole purpose of getting rich would be to make life easier for my family.

Saying people like Paris etc. are negatives b/c they inherited is contrary to my beliefs, personally.

 

[Sallow]

Ah Geez--You can walk down your own main street. You will see doctors/dentist's office's--the guy who rebuilds car engines--your auto mechanic--your construction company--from A to Z--who bust their butts every single day of the week to bring a necessary service to this country and you. They are called small business people in this country and are also known as the largest employer of it.

The PRESIDENT you voted for--decided to attack these same small business people with his continual and on-growing threat that if they make 250K per year--he is going to throw them into the exact same tax bracket (39%) which is exactly what multi-billion dollar corporations pay. If you add in state and local taxes--you are taxing the hardest working, most innovative people in this country 50% or .50 cents on every dollar they earn.

This is the economic terrorist you have elected. And then your Harvard graduate--community organizer--most intellectual President ever--wonders where the "jobs" are?--

Small business in this country has tucked in like a turtle and is waiting for the threat to leave. And that threat is Barack Obama. Not everyone that earns 250K per year pushes a button and works on 2 blocks of lower Manhatton in New York City--Da--Duh.

How exactly did Paris Hilton become rich? Or for that matter, Donald Trump?

Both started out wealthy and both continued to make more money.

Of the two Paris seems to me to be the more productive and creative earner.

I understand that her businesses generate tens times as much money annually as she inherited in total from her family fortune.

And just think she mostly owes her celebrity (which is what she's capitalized on to create her fashion businesses) to a SEX TAPE.

Smart girl, that.

She certainly turned THAT lemon into lemonade.

I doubt, very much, she did that without hiring people who knew just how to capitalize on it.

 

[Conservative]

According to the IRS, the answer is mostly not.

Of the richest of the rich only 6.5% of income was from working, as of 2007. The rest came from things like interest, dividends, and capital gains.

In other words, the kind of income you get without having to wake up in the morning.

Which raises the question: if the rich are consuming without working, who is doing their work for them?

Link

Ah Geez--You can walk down your own main street. You will see doctors/dentist's office's--the guy who rebuilds car engines--your auto mechanic--your construction company--from A to Z--who bust their butts every single day of the week to bring a necessary service to this country and you. They are called small business people in this country and are also known as the largest employer of it.

The PRESIDENT you voted for--decided to attack these same small business people with his continual and on-growing threat that if they make 250K per year--he is going to throw them into the exact same tax bracket (39%) which is exactly what multi-billion dollar corporations pay. If you add in state and local taxes--you are taxing the hardest working, most innovative people in this country 50% or .50 cents on every dollar they earn.

This is the economic terrorist you have elected. And then your Harvard graduate--community organizer--most intellectual President ever--wonders where the "jobs" are?--

Small business in this country has tucked in like a turtle and is waiting for the threat to leave. And that threat is Barack Obama and his comrades in economic terrorism.

I can see which God you pray to.

for you, rdean...

 

[Conservative]

Did they steal it from you?

Some did. It's why we have financial collapse. They buy politicians to deregulate or change laws. It's how an economic meltdown can occur and no one arrested. These things don't happen by themselves. I thought everyone knew that.

Which rich person stole directly from you, and how much did they get? Have you filed a complaint with the police? Were they ever arrested? Tried? What was the verdict?

 

[Remodeling Maidiac]

It would be nice if the rich at least paid their taxes:

IRS: Over 1,400 Millionaires Paid No Income Taxes In 2009

It would also be nice if the other 150000000 people had skin in the game too.

 

[G.T.]

It would be nice if the rich at least paid their taxes:

IRS: Over 1,400 Millionaires Paid No Income Taxes In 2009

It would also be nice if the other 150000000 people had skin in the game too.

I think that they'd have skin in the game if there wasn't a class war going on with the Government and Federal Reserve and Big Business all working to funnel cash upward to the elites of the Empire.

 

[Conservative]

According to the IRS, the answer is mostly not.

Of the richest of the rich only 6.5% of income was from working, as of 2007. The rest came from things like interest, dividends, and capital gains.

In other words, the kind of income you get without having to wake up in the morning.

Which raises the question: if the rich are consuming without working, who is doing their work for them?

Link

Look, I don't consider myself "rich" in the monetary sense but I guess some people would. I'm certainly rich when it comes to health, a great family, faith, fun, stuff like that.

It is definitely my goal to eventually sell my business, live my retirement years off of well calculated investements and of course, leave something behind for my family.

So what is your problem with that?

But... but... you can't DO that! That would mean your kids did not 'earn' that money, and they should just give it to the federal government, so it could be divided amoung those less fortunate than they.

 

[Conservative]

It would be nice if the rich at least paid their taxes:

IRS: Over 1,400 Millionaires Paid No Income Taxes In 2009

It would also be nice if the other 150000000 people had skin in the game too.

Liberals bitch and moan when the 'rich' don't pay income tax... but not a peep when that other 50% of US households don't.

Gee, I wonder why?

 

[Remodeling Maidiac]

It would be nice if the rich at least paid their taxes:

IRS: Over 1,400 Millionaires Paid No Income Taxes In 2009

It would also be nice if the other 150000000 people had skin in the game too.

Liberals bitch and moan when the 'rich' don't pay income tax... but not a peep when that other 50% of US households don't.

Gee, I wonder why?

Because that's their voting base?

 

[Sallow]

Tax bills for 5 corporate giants - Exxon Mobil: $15.1 billion (2) - CNNMoney.com

Gotta love it.

Exxon
U.S. federal: -$156 million
U.S. state and local: $110 million
International: $15.2 billion