Michael Steele: "Trust me, after taxes, a million dollars is not a lot of money,"

Discussion in 'Politics' started by Modbert, Feb 5, 2010.

  1. Modbert
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    Modbert Daydream Believer Supporting Member

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    Steele, Ford spar on issues during Ark. appearance -- Page 1 -- Times Union - Albany NY

    Interesting, it's still $672,000, assuming you are single and have no deductions at all.

    Of course:

    USA QuickFacts from the US Census Bureau

    I mean, making almost roughly twenty times the average median household income isn't a lot of money at all.

    But wait! What about minimum wage?

    Well, a minimum wage worker in my state for example would make $15,392 a year if you are to consider a 40 hour work week, 52 weeks a year. (That's right, no vacations.)

    I mean, almost 65 years to make 1 million isn't that bad.

    And even better news! It only takes about 44 years to make $642,000! And that's before taxes on any minimum wage employee too though.

    But there's also this:

    Richest Americans See Their Income Share Grow - WSJ.com

    $NA-AR503_TAXRAT_20080722194829.gif

    Note: Obviously none of this considers inflation, however these numbers are accurate as of this moment.

    I understand it's French so the GOP probably wouldn't like the following as a new motto: "Qu'ils mangent de la brioche".

    But they can always use the english translation!

    "Let them eat cake." :eusa_eh:

    Thoughts USMB?
     
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    Last edited: Feb 5, 2010
  2. VaYank5150
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    VaYank5150 Gold Member

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    I want to chime in, but am a little confused as to what point you are trying to make with this post, Dogbert?
     
  3. Oddball
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    Oddball BANNED Supporting Member

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    I think that envy and covetousness are vastly overrated.
     
  4. Modbert
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    Modbert Daydream Believer Supporting Member

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    Well obviously I was being a bit sarcastic (post may drip). A million dollars is a fuckton of money if you look at it from a realistic standpoint.

    I'm pointing out also how once again, Michael Steele is out-of-touch with the average American as Chairman of the RNC.
     
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  5. Oddball
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    Oddball BANNED Supporting Member

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    No...When you look at it from the standpoint of a covetous college boy, who has done nothing to earn that money.

    True as that may be insofar as Steele is concerned, how 'bout you go out and jump through all the statutory and regulatory hoops it takes to earn that million bucks, pay ALL the taxes on it (federal, state, excise, sales, OASI, license and permit fees, etcetera), and come back with your report about how "fair" the system is.
     
  6. VaYank5150
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    VaYank5150 Gold Member

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    Are you trying to say Steele has "jumped through statutory and regulatory hoops" to earn his million bucks?
     
  7. Modbert
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    Modbert Daydream Believer Supporting Member

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    Because you don't consider making 20 times the average median income to be a lot of money? :eusa_eh:

    And you seem to be assuming that all people who make a million are business owners.

    Let me ask you Dude, what do you consider to be well-off in this country then? 50 times the average median income?
     
  8. beowolfe
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    beowolfe Senior Member

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    It shows how disconnected the GOP leadership is when in comes to economic matters. If you think that $672,000 a year isn't much money, you are more than likely to think that people in that income bracket need assistance from the government.

    In the end, the Democrats and the Republicans both seek to use government to benefit those that they think need and/or deserve help.
     
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  9. Article 15
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    Article 15 Dr. House slayer

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    He's a dumbass but he's right.
     
  10. Modbert
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    Modbert Daydream Believer Supporting Member

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    Right how though?

    I mean, if we're talking lifetime then a million is not a lot of money. But we're talking yearly income. I think most people on this board would be quite happy to make even half of that a year, never mind $1,000,000.

    Maybe I'm not getting it, I dunno.
     
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