Soak the Rich, Lose the Rich

[Oldandtired]

hey....smartass.....in NYC 250K does not buy you a mansion a yacht and a string of poloponies.

250K is middle class at best.

I know...I know.....move if I dont like it.

Better yet...have some resppnsibility and get a job that pays well.....you know...one where it is not all about how many vacation days you get.

I also live on Long Island, on the North shore of Suffolk County about a stones throw from the water.

I retired at fifty. I'll be sixty next month.

I do very well.

If that's all true then you're crazy to support Obama's policies ......

Retired at 50 in Suffolk county means he was likely a public servant...Teacher, officer of the law, etc.
50 is a common age for NY public servants to retire in NY.

NY public servants are usually more on the liberal side of policy.

 

[Mr Natural]

hey....smartass.....in NYC 250K does not buy you a mansion a yacht and a string of poloponies.

250K is middle class at best.

I know...I know.....move if I dont like it.

Better yet...have some resppnsibility and get a job that pays well.....you know...one where it is not all about how many vacation days you get.

I also live on Long Island, on the North shore of Suffolk County about a stones throw from the water.

I retired at fifty. I'll be sixty next month.

I do very well.

If that's all true then you're crazy to support Obama's policies ......

Do you you really think it matters who the President is or the makeup of the Congress?

Cripes, we could elect a complete set of arch conservatives in all levels of government and you people act as if you'll see some kind of windfall in your paychecks and you'll have more money than you know what to do with.

I've been around long enough to have seen enough tax cuts and tax and not a one of them ever amounted to a more hill of beans in either direction.

 

[Oldandtired]

I also live on Long Island, on the North shore of Suffolk County about a stones throw from the water.

I retired at fifty. I'll be sixty next month.

I do very well.

If that's all true then you're crazy to support Obama's policies ......

Do you you really think it matters who the President is or the makeup of the Congress?

Cripes, we could elect a complete set of arch conservatives in all levels of government and you people act as if you'll see some kind of windfall in your paychecks and you'll have more money than you know what to do with.

I've been around long enough to have seen enough tax cuts and tax and not a one of them ever amounted to a more hill of beans in either direction.

Then you were certainly never a business owner.
Tax increases on employees are compounded as the employer needs to match the increase as well.

 

[edthecynic]

That was my point. And if people think that $250K is rich, wait until they start coming after the $150K earners, then the $75K...

The uber rich will always have fancy accountants who know how to manipulate the tax code.
And so the upper middle class will carry the load. Until they are broke. And then it will be the middle middle class...

And none of them are paying 50% of their income in Fed taxes.

According to the CBO the top 1% pay a 31.2% tax rate in all Fed taxes, that includes Individual Income tax, Social Insurance taxes, Corporate Income taxes and Excise taxes combined.
The top 5% pay 28.9%
The top 10% pay 27.4%
The top 20% pay 25.5%
The next 20% pay 17.4%
The next 20% pay 14.2%
The next 20% pay 9.9%
And the bottom 20% pay 4.3%

http://www.cbo.gov/ftpdocs/88xx/doc8885/12-11-HistoricalTaxRates.pdf

 

[driveby]

I also live on Long Island, on the North shore of Suffolk County about a stones throw from the water.

I retired at fifty. I'll be sixty next month.

I do very well.

If that's all true then you're crazy to support Obama's policies ......

Do you you really think it matters who the President is or the makeup of the Congress?

Cripes, we could elect a complete set of arch conservatives in all levels of government and you people act as if you'll see some kind of windfall in your paychecks and you'll have more money than you know what to do with.

I've been around long enough to have seen enough tax cuts and tax and not a one of them ever amounted to a more hill of beans in either direction.

Pffft, the Scott Brown election alone helped this country dodge a disaster ........

 

[Oldandtired]

If that's all true then you're crazy to support Obama's policies ......

Do you you really think it matters who the President is or the makeup of the Congress?

Cripes, we could elect a complete set of arch conservatives in all levels of government and you people act as if you'll see some kind of windfall in your paychecks and you'll have more money than you know what to do with.

I've been around long enough to have seen enough tax cuts and tax and not a one of them ever amounted to a more hill of beans in either direction.

Pffft, the Scott Brown election alone helped this country dodge a disaster ........

Not Scott Brown the person....strictly the 41st vote.
That one vote opens the door to debate.
Why does the left think that debate is a bad thing?

 

[Oldandtired]

That was my point. And if people think that $250K is rich, wait until they start coming after the $150K earners, then the $75K...

The uber rich will always have fancy accountants who know how to manipulate the tax code.
And so the upper middle class will carry the load. Until they are broke. And then it will be the middle middle class...

And none of them are paying 50% of their income in Fed taxes.

According to the CBO the top 1% pay a 31.2% tax rate in all Fed taxes, that includes Individual Income tax, Social Insurance taxes, Corporate Income taxes and Excise taxes combined.
The top 5% pay 28.9%
The top 10% pay 27.4%
The top 20% pay 25.5%
The next 20% pay 17.4%
The next 20% pay 14.2%
The next 20% pay 9.9%
And the bottom 20% pay 4.3%

http://www.cbo.gov/ftpdocs/88xx/doc8885/12-11-HistoricalTaxRates.pdf

Why do you ignore the fact that many of those uber rich are also the employers that have to match the taxes...so any increase bites into their own income...and then add that increase to the owners income as well...

To offer simple percentages does not tell the entire story.

We want to create jobs....dont we? Then why are we looking to decrease net pay to the job creators? Do you truly think that will create jobs in a recession?

 

[Mr Natural]

I also live on Long Island, on the North shore of Suffolk County about a stones throw from the water.

I retired at fifty. I'll be sixty next month.

I do very well.

If that's all true then you're crazy to support Obama's policies ......

Retired at 50 in Suffolk county means he was likely a public servant...Teacher, officer of the law, etc.
50 is a common age for NY public servants to retire in NY.

NY public servants are usually more on the liberal side of policy.

Nice try but wrong as usual.

 

[Oldandtired]

If that's all true then you're crazy to support Obama's policies ......

Retired at 50 in Suffolk county means he was likely a public servant...Teacher, officer of the law, etc.
50 is a common age for NY public servants to retire in NY.

NY public servants are usually more on the liberal side of policy.

Nice try but wrong as usual.

Perhaps. I have no reason to doubt you.

I said "likely" and backed it up with fact. I did not state it as fact.

And as for the wrong as usual comment. I will let that pass. I have made the same immature comment in the past as well...you may not agree with all I say....but I am not usually wrong...just on the worng side of a debate in you eyes.

 

[driveby]

Do you you really think it matters who the President is or the makeup of the Congress?

Cripes, we could elect a complete set of arch conservatives in all levels of government and you people act as if you'll see some kind of windfall in your paychecks and you'll have more money than you know what to do with.

I've been around long enough to have seen enough tax cuts and tax and not a one of them ever amounted to a more hill of beans in either direction.

Pffft, the Scott Brown election alone helped this country dodge a disaster ........

Not Scott Brown the person....strictly the 41st vote.

Correct, i didn't mean him personally ......

 

[edthecynic]

That was my point. And if people think that $250K is rich, wait until they start coming after the $150K earners, then the $75K...

The uber rich will always have fancy accountants who know how to manipulate the tax code.
And so the upper middle class will carry the load. Until they are broke. And then it will be the middle middle class...

And none of them are paying 50% of their income in Fed taxes.

According to the CBO the top 1% pay a 31.2% tax rate in all Fed taxes, that includes Individual Income tax, Social Insurance taxes, Corporate Income taxes and Excise taxes combined.
The top 5% pay 28.9%
The top 10% pay 27.4%
The top 20% pay 25.5%
The next 20% pay 17.4%
The next 20% pay 14.2%
The next 20% pay 9.9%
And the bottom 20% pay 4.3%

http://www.cbo.gov/ftpdocs/88xx/doc8885/12-11-HistoricalTaxRates.pdf

Why do you ignore the fact that many of those uber rich are also the employers that have to match the taxes...so any increase bites into their own income...and then add that increase to the owners income as well...

To offer simple percentages does not tell the entire story.

We want to create jobs....dont we? Then why are we looking to decrease net pay to the job creators? Do you truly think that will create jobs in a recession?

Those numbers are the combination of all Fed Taxes on their income so they are not paying any matching taxes for anyone.
But keep trying to exaggerate the tax burden on the wealthy. The more you find it necessary to exaggerate the more you reveal that deep down in your gut and no matter what you might say to the contrary, you really don't believe they are over taxed at their present rate.
Thank you.

 

[Oldandtired]

And none of them are paying 50% of their income in Fed taxes.

According to the CBO the top 1% pay a 31.2% tax rate in all Fed taxes, that includes Individual Income tax, Social Insurance taxes, Corporate Income taxes and Excise taxes combined.
The top 5% pay 28.9%
The top 10% pay 27.4%
The top 20% pay 25.5%
The next 20% pay 17.4%
The next 20% pay 14.2%
The next 20% pay 9.9%
And the bottom 20% pay 4.3%

http://www.cbo.gov/ftpdocs/88xx/doc8885/12-11-HistoricalTaxRates.pdf

Why do you ignore the fact that many of those uber rich are also the employers that have to match the taxes...so any increase bites into their own income...and then add that increase to the owners income as well...

To offer simple percentages does not tell the entire story.

We want to create jobs....dont we? Then why are we looking to decrease net pay to the job creators? Do you truly think that will create jobs in a recession?

Those numbers are the combination of all Fed Taxes on their income so they are not paying any matching taxes for anyone.
But keep trying to exaggerate the tax burden on the wealthy. The more you find it necessary to exaggerate the more you reveal that deep down in your gut and no matter what you might say to the contrary, you really don't believe they are over taxed at their present rate.
Thank you.

Thank you for clarifying what I think.
And your "tax matching" conclusion does not make any sense.
Fed taxes whether increased or decreased, directly affects the amount matched.
ANd again, I say.....250K is not deemed as wealthy in NYC by any means.
And no where have I exaggerated.

 

[Political Junky]

Tax cuts work

Yes they do, but the tax should have never been there in the first place to cut. The United States is getting flushed down the toilet with big government spending. Therein lies the problem. If the spending wasn't there, there would be no need to tax more. It's just a downward spiral that will not end until the great depression is created again. The Democrats the American people elected to represent them are doing exactly what the American public elected them to do. Spend until there is no tomorrow. That is exactly what they are doing, and your grandkids will be paying for it.

Where were you're complaints while Bush spent us into debt, when he started with a surplus?

 

[Political Junky]

Tax cuts work

Yes they do, but the tax should have never been there in the first place to cut. The United States is getting flushed down the toilet with big government spending. Therein lies the problem. If the spending wasn't there, there would be no need to tax more. It's just a downward spiral that will not end until the great depression is created again. The Democrats the American people elected to represent them are doing exactly what the American public elected them to do. Spend until there is no tomorrow. That is exactly what they are doing, and your grandkids will be paying for it.

Where were you're complaints while Bush spent us into debt, when he started with a surplus?

 

[edthecynic]

Why do you ignore the fact that many of those uber rich are also the employers that have to match the taxes...so any increase bites into their own income...and then add that increase to the owners income as well...

To offer simple percentages does not tell the entire story.

We want to create jobs....dont we? Then why are we looking to decrease net pay to the job creators? Do you truly think that will create jobs in a recession?

Those numbers are the combination of all Fed Taxes on their income so they are not paying any matching taxes for anyone.
But keep trying to exaggerate the tax burden on the wealthy. The more you find it necessary to exaggerate the more you reveal that deep down in your gut and no matter what you might say to the contrary, you really don't believe they are over taxed at their present rate.
Thank you.

Thank you for clarifying what I think.
And your "tax matching" conclusion does not make any sense.
Fed taxes whether increased or decreased, directly affects the amount matched.
ANd again, I say.....250K is not deemed as wealthy in NYC by any means.
And no where have I exaggerated.

An employer does not match any taxes from his PERSONAL income so your attempts to claim that they pay matching taxes over and above the total tax rates I cited is undeniably an exaggeration.
Thanks again for showing that you feel the NEED to exaggerate the tax burden of the rich to generate sympathy for them.

 

[Skull Pilot]

That was my point. And if people think that $250K is rich, wait until they start coming after the $150K earners, then the $75K...

The uber rich will always have fancy accountants who know how to manipulate the tax code.
And so the upper middle class will carry the load. Until they are broke. And then it will be the middle middle class...

And none of them are paying 50% of their income in Fed taxes.

According to the CBO the top 1% pay a 31.2% tax rate in all Fed taxes, that includes Individual Income tax, Social Insurance taxes, Corporate Income taxes and Excise taxes combined.
The top 5% pay 28.9%
The top 10% pay 27.4%
The top 20% pay 25.5%
The next 20% pay 17.4%
The next 20% pay 14.2%
The next 20% pay 9.9%
And the bottom 20% pay 4.3%

http://www.cbo.gov/ftpdocs/88xx/doc8885/12-11-HistoricalTaxRates.pdf

Income taxes are not the only tax paid. Why do people always seem to forget this?

Add up ALL taxes State and Federal and tell me what the percentage is.

 

[Annie]

That was my point. And if people think that $250K is rich, wait until they start coming after the $150K earners, then the $75K...

The uber rich will always have fancy accountants who know how to manipulate the tax code.
And so the upper middle class will carry the load. Until they are broke. And then it will be the middle middle class...

And none of them are paying 50% of their income in Fed taxes.

According to the CBO the top 1% pay a 31.2% tax rate in all Fed taxes, that includes Individual Income tax, Social Insurance taxes, Corporate Income taxes and Excise taxes combined.
The top 5% pay 28.9%
The top 10% pay 27.4%
The top 20% pay 25.5%
The next 20% pay 17.4%
The next 20% pay 14.2%
The next 20% pay 9.9%
And the bottom 20% pay 4.3%

http://www.cbo.gov/ftpdocs/88xx/doc8885/12-11-HistoricalTaxRates.pdf

Income taxes are not the only tax paid. Why do people always seem to forget this?

Add up ALL taxes State and Federal and tell me what the percentage is.

The Tax Foundation - New Data: Top 1% Pay Greater Dollar Amount in Income Taxes to Federal Government than Bottom 90%

Source: IRS

 

[Skull Pilot]

And none of them are paying 50% of their income in Fed taxes.

According to the CBO the top 1% pay a 31.2% tax rate in all Fed taxes, that includes Individual Income tax, Social Insurance taxes, Corporate Income taxes and Excise taxes combined.
The top 5% pay 28.9%
The top 10% pay 27.4%
The top 20% pay 25.5%
The next 20% pay 17.4%
The next 20% pay 14.2%
The next 20% pay 9.9%
And the bottom 20% pay 4.3%

http://www.cbo.gov/ftpdocs/88xx/doc8885/12-11-HistoricalTaxRates.pdf

Income taxes are not the only tax paid. Why do people always seem to forget this?

Add up ALL taxes State and Federal and tell me what the percentage is.

The Tax Foundation - New Data: Top 1% Pay Greater Dollar Amount in Income Taxes to Federal Government than Bottom 90%

Source: IRS

Not what I meant.

Add up every single penny of taxes you pay every year and then tell me what the percentage of your income was that went to taxes.

I will be near 50%

 

[chanel]

In May, Hawaii displaced California as the state with the highest rate when it imposed a new top rate of 11% on income above $400,000 for a married couple. In April, New York raised its top rate by 31%--to 8.97% from 6.85%--but only on incomes over $500,000. Add in the local tax and Big Apple residents pay a 12.62% combined rate, the highest in the nation.

.

In Pictures: The 10 Highest State Income Tax Rates - Forbes.com

New Jersey's personal income tax system consists of eight brackets and a top rate of 10.75% kicking in at an income level of $1,000,000. Among states levying personal income taxes, New Jersey's top rate ranks 3rd highest nationally.

The Tax Foundation - Tax Research Areas > New Jersey

Add in the proposed health insurance surtax and/or the 8.5% payroll penalty, and then what are we up to?

There will be a point where people will be "de-incentivized" to work any more. Professional couples may decide for one spouse to stay home. Small businesses will downsize. Cash businesses will steal.

Then they will have to go after "wealth" as well as income. And Chanel's crystal ball says that's not far off.

 

[mudwhistle]

Do you you really think it matters who the President is or the makeup of the Congress?

Cripes, we could elect a complete set of arch conservatives in all levels of government and you people act as if you'll see some kind of windfall in your paychecks and you'll have more money than you know what to do with.

I've been around long enough to have seen enough tax cuts and tax and not a one of them ever amounted to a more hill of beans in either direction.

Pffft, the Scott Brown election alone helped this country dodge a disaster ........

Not Scott Brown the person....strictly the 41st vote.
That one vote opens the door to debate.
Why does the left think that debate is a bad thing?

Because debate sheds light on what they're really doing instead of what they're telling us.

Last thing they want is for anyone to get in the way of assuring they'll have an advantage over the GOP in every election and taking over the private sector.