Obama Tax Plan: Now down to $150,000

[Mad Scientist]

It will stall at 42,000.00 I love those libwals they're so gullible.

I'm thinking they wouldn't stop at minimum wage.

 

[jschuck12001]

Since jschuck12001 skirted my question I'll ask it of you: how can a progressive tax be fair to all Americans? It's socialism, plain and simple.

Look, I didnt skirt your question, I have been busy and cant be on the boards all day, Some of us have a life. To answer your question it probably cant be fair to all Americans because someone will have to give a little more. Not everything is fair but if these taxes can fund programs we really need then they are worth it. I would pay a little more if I thought it would help our society so there is no reason to be greedy. Like I told an earlier poster, I have paid over $65k in taxes the last 2 years on a w-2'd job and I never gripped about it because I felt blessed I was doing better than most. Now I make less than half of what I did which is still pretty good but I would still pay higher taxes if I thought it were going to the right places. We just have different views, its not thats its wrong or right its just how you feel individually about accepting more of the burden as a earner who makes more than most.

 

[dilloduck]

Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this:

The first four men (the poorest) would pay nothing.
The fifth would pay $1.
The sixth would pay $3.
The seventh would pay $7.
The eighth would pay $12.
The ninth would pay $18..
The tenth man (the richest) would pay $59..

So, that's what they decided to do. The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve.

'Since you are all such good customers, he said, 'I'm going to reduce the cost of your daily beer by $20.' Drinks for the ten now cost just $80.

The group still wanted to pay their bill the way we pay our taxes SO the first four men were unaffected. They would still drink for free.

But what about the other six men - the paying customers? How could they divide the $20 windfall so that everyone would get his 'fair share?'

They realized that $20 divided by six is $3.33. But if they subtracted that from everybody's share, then the fifth man and the sixth man would each end up being paid to drink his beer.

So, the bar owner suggested that it would be fair to reduce each man's bill by roughly the same amount, and he proceeded to work out the amounts each should pay.

And so:

The fifth man, like the first four, now paid nothing (100% savings).
The sixth now paid $2 instead of $3 (33%savings).
The seventh now paid $5 instead of $7 (28%savings).
The eighth now paid $9 instead of $12 (25% savings).
The ninth now paid $14 instead of $18 (22% savings).
The tenth now paid $50 instead of $59 (15% savings).

Each of the six was better off than before.

And the first four continued to drink for free. But once outside the restaurant, the men began to compare their savings. 'I only got a dollar out of the $20,' declared the sixth man. He pointed to the tenth man, 'but he got $9!'

'Yeah, that's right,' exclaimed the fifth man. 'I only saved a dollar, too. It's unfair that he got nine times more than I!'

'That's true!!' shouted the seventh man. 'Why should he get $9 back when I got only two? The wealthy get all the breaks!' 'Wait a minute,' yelled the first four men in unison. 'We didn't get anything at all. The system exploits the poor.'

The nine men surrounded the tenth and beat him up.

The next night the tenth man didn't show up for drinks, so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something important. They didn't have enough money between all of them for even half of the bill!

And that is how our tax system works. The people who pay the highest taxes get the most benefit from a tax reduction.

Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas where the atmosphere is somewhat friendlier.

David R. Kamerschen, Ph.D.
Professor of Economics, University of Georgia

So Long, Democrats - The Daily Beast

 

[jschuck12001]

Dillo, They already have started drinking overseas and unless we drop the tax rate to a ridiculous level we will continue to see this happen. People on the board always talk about how jobs will move overseas, Here is a news flash, jobs have been moving overseas for the last 8 years and I have seen it first hand. We can leave things the same way and they will be the same. Companies will keep moving overseas because its cheaper and congress will never drop the tax rate to 20%(per the current tax loopholes this may keep companies from outsourcing and going overseas). So how will things change by them staying the same? We need someone who thinks outside the box and wants to create another technology boom so we can pull ourselves out of this mess and a good energy plan can employ the top scientists all the way down to the guy or gal that puts the solar panels on homes. Things wont get better or change the way they are now, I just dont see it.

 

[Turboswede]

And the "poor" are in such bad shape with cable TV, cell phones, high speed internet connections...PLEASE....Ya sound like ya only believe there is only so much money in the world, and if the rich get more they are takin it away from someone.....

I am more worried about the poor without highspeed internet and cell phones.

I am worried about the ratio rather than the absolute amount, the rich keep getting a bigger piece of the pie.

 

[glockmail]

Deduct those expenses from what incomes?

Thier [sic] work study jobs?

You're smarter than that, Glock.

Apparently you ain't. Tuition is financed by parents (who earn an income) and students by taking out a loan (then pay it back when they have an income).

 

[glockmail]

Sorry, I keep forgetting what the issue is.

I thought it was that Obama will raise taxes on people making more than $150K per year?

Then I thought it was what is socialism?

Then I thought it was why is progressive taxation fair?

Then I thought it was that the Government Fucks up everything it touches?

Then I thought it was that everything the government doesn’t fuck up is run by the private sector?

I just pointed out that the government farming programs out to the private sector smacks of graft and corruption, was that off point? Sorry I must have gotten confused.

I hope Obama raises taxes on everyone making more than $150K so we can try and reduce the deficit. I am counting on him eliminating the wage base for SS taxes, that would make me happy.

The rich get richer and the poor get poorer, I would like to see that trend reversed for a while, and if you work for a living you should too.

How convenient. As I pointed out here, liberal policies practically guarantee that the poor will stay poor, and for generations.

 

[glockmail]

I am more worried about the poor without highspeed internet and cell phones.

I am worried about the ratio rather than the absolute amount, the rich keep getting a bigger piece of the pie.

Since you can't keep up with the discussion yet continue to post bullshit it is obvious that you are only worried about keeping Democrats in power. You should pride yourself in your usefulness for the elites.

 

[Gunny]

BREAKING NEWS: Joe Biden just said you have to be making under $10,000 a year to not get hit with tax increases! Oh noes!!

So Obama lied. Good deal.

 

[DiamondDave]

I am more worried about the poor without highspeed internet and cell phones.

I am worried about the ratio rather than the absolute amount, the rich keep getting a bigger piece of the pie.

Yeah... damn those people who actually make better decisions, invest, provide a more highly skilled service, provide corporate leadership, become great doctors, wade thru the legal system as lawyers and skillfully handle cases... they should not earn more than the 'Fry Guy' or the guy mowing the lawn

 

[GigiBowman]

Well I just Heard that his tax plan was down to $49.95 and I could get a second ginsu-knife with that!

 

[jreeves]

Yes Really...

We haven’t addressed how state taxes are apportioned so State spending on welfare is not relevant to the argument about Obama’s Federal Income Tax Policy. In addition, my state does not have an income tax so that our system is probably what the right would love to see, an 8.5% flat consumption tax.

Anyway, using the same logic applied in your referenced article FEDERAL Welfare spending boils down to $313B and that is $4040 per family and 74% of the GDP of the US in 1900.

If we take defense, homeland security and the war on terror that’s $660B or $8,525 per family or 1.5 times the US GDP in 1900.

If welfare spending is out of control, military spending is in control and leads the deficit and debt around by the nose.

I thought I would throw in some illustrations of how defense spending has just become outrageous. Here is a breakdown, in 2007 dollars, of the costs ou US Wars from the OMB:


Iraq and Afghanistan To Date $808 billion
Vietnam War $670 billion
World War I $364 billion
Korean War $295 billion
Persian Gulf War $94 billion
Civil War $81 billion
(both Union and Confederate costs)
Spanish-American War $7 billion
American Revolution $4 billion
Mexican War $2 billion
War of 1812 $1 billion

So, besides WW II the war on terror has been the most expensive to date.

And here is a visual representation of our military spending vs the rest of the world.

I guess the reason for the size of our defense budget is that we need to be able to fight and defeat every military on the planet simultaneously.

So, our defense spending is rational, but providing health coverage to uninsured children isn’t?

Defense spending is rational, if not then health coverage wouldn't matter. Since we would be dead.


State spending on welfare is supplemented greatly by the feds. In other words, Medicaid dollars are given to the states by the feds and the states actually distribute the funding from the feds. Medicaid is only one example, many state run social programs are funded by the federal government.

 

[Turboswede]

Apparently you ain't. Tuition is financed by parents (who earn an income) and students by taking out a loan (then pay it back when they have an income).

Glock, you can deduct interest on a student loan.

 

[Turboswede]

How convenient. As I pointed out here, liberal policies practically guarantee that the poor will stay poor, and for generations.

Hmmm, my understanding is that social security is suposed to be a last ditch saftey net for suitations where the markets crash, makes sense as it came out of the great depression.

 

[Turboswede]

Since you can't keep up with the discussion yet continue to post bullshit it is obvious that you are only worried about keeping Democrats in power. You should pride yourself in your usefulness for the elites.

Sorry, I had to do somthing called "work" for a bit, its somthing that those living off trust funds need to do to pay the mortgage.

 

[Turboswede]

Yeah... damn those people who actually make better decisions, invest, provide a more highly skilled service, provide corporate leadership, become great doctors, wade thru the legal system as lawyers and skillfully handle cases... they should not earn more than the 'Fry Guy' or the guy mowing the lawn

Dave, I don't consider anyone who works for a living "rich"

 

[Turboswede]

Defense spending is rational, if not then health coverage wouldn't matter. Since we would be dead.


State spending on welfare is supplemented greatly by the feds. In other words, Medicaid dollars are given to the states by the feds and the states actually distribute the funding from the feds. Medicaid is only one example, many state run social programs are funded by the federal government.

But why almost as much as the rest of the world combined, are we that filled with fear?

 

[Turboswede]

Defense spending is rational, if not then health coverage wouldn't matter. Since we would be dead.


State spending on welfare is supplemented greatly by the feds. In other words, Medicaid dollars are given to the states by the feds and the states actually distribute the funding from the feds. Medicaid is only one example, many state run social programs are funded by the federal government.

But why almost as much as the rest of the world combined, are we that filled with fear?

 

[Turboswede]

Defense spending is rational, if not then health coverage wouldn't matter. Since we would be dead.


State spending on welfare is supplemented greatly by the feds. In other words, Medicaid dollars are given to the states by the feds and the states actually distribute the funding from the feds. Medicaid is only one example, many state run social programs are funded by the federal government.

But why almost as much as the rest of the world combined, are we that filled with fear?

 

[jreeves]

But why almost as much as the rest of the world combined, are we that filled with fear?

There is a reason we are the world's largest superpower and haven't been attacked militarily on our soil since WWII.