Hard Truths....What's Your Example?

[citygator]

/---- Even if that's true, you're clearly not aware who pays teh most taxes on income.
The top earners in the U.S. pay the most income tax. In 2022, the top 1% of earners paid 40.4% of all federal income taxes, while the top 5% collectively paid over $1.3 trillion in income taxes, accounting for about 61% of the national total. The top 10% of earners paid 76% of all income taxes, and the top 25% paid 89% of all income taxes. This highlights the progressive nature of the U.S. income tax system, where higher earners contribute a larger share of the tax revenue compared to lower earners.

The top income makers MAKE all the income because no one else makes much. They still pay LESS than they historically pay in percentages even if they now own more of the income and wealth.

 

[Woodznutz]

Your experience was certainly not our experience. We were dirt poor when we married and remained that way for some time before our work ethic, aptitude, intuition and other worthy attributes worked us out of it. We never became rich--we did not choose careers that usually make people rich--but we didn't have to worry about money for any of our needs. Being rich was never important to us. We had quality of life which is far more valuable for most people than being rich.

The bottom fell out financially soon after I got married (long story).

 

[Woodznutz]

The top income makers MAKE all the income because no one else makes much. They still pay LESS than they historically pay in percentages even if they now own more of the income and wealth.

The difference between wealth and income needs to be explained more carefully, and honestly.

 

[citygator]

The difference between wealth and income needs to be explained more carefully, and honestly.

I clearly separated them but the top 1% has accumulated more of both.

 

[Woodznutz]

I clearly separated them but the top 1% has accumulated more of both.

I don't have much wealth but all of it is in financials, available for loans. If it was in a mansion no one but me would benefit (except those who benefit from property taxes). Interest earned is also invested in more financials. A lot of 'wealth' sleeps but lots of it provides jobs.

 

[Woodznutz]

I don't have much wealth but all of it is in financials, available for loans. If it was in a mansion no one but me would benefit (except those who benefit from property taxes). Interest earned is also invested in more financials. A lot of 'wealth' is in assets that only the owner enjoys but lots of it provides jobs.

 

[JOSweetHeart]

A quitter never wins.....~S~

To me, the existence of drugs, cigarettes, and alcohol are three reasons to disagree with this statement.

God bless you always!!!

Holly

P.S. I've lost too many family members because of the relationship that they chose to have with those three things which I guess is my hard truth to share here.

 

[Cellblock2429]

The top income makers MAKE all the income because no one else makes much. They still pay LESS than they historically pay in percentages even if they now own more of the income and wealth.

/------/ "They still pay LESS than they historically pay in percentages"
Your class envy makes me laugh. Forget percentages. Look at the real dollars. Would you rather have 10% of $1 or 1% of $1,000? You do the math.

Elon Musk paid over $11 billion in taxes in 2021, which is one of the largest individual tax payments in U.S. history. How much have you paid in your entire life? I'm talking dollars, not percent.

 

[Bitterhook]

Again, you IGNORE the fact we were INBALANCE between 1945-1980 with an effective 35% tax rate on the top 1% and it got CUT in the 1980s/2000's/2018's way back to 25%. You picking NOW as the baseline is bullshit. It is what it is to have a first world country. You dont like it then find another country that cost less where you can make more. It is your patriotic duty to pay taxes not theft you ingrate.

That's just a bunch of whining hogwash.

if you want to cry about how much money you cannot steal from the rich in order to provide for your stupid plans, wasteful spending, and governmental overreach, you're going to have to buy your own Kleenex.

I am fine here, don't give a shit what you want, and if you don't like it, you can go **** yourself in the face.
I am not ignoring anything and will support cutting taxes on the top 1% until the tax rate is in line with the lowest rate available to any patriotic American citizen.

You're just crying because you cannot rob them blind, and that your pathetically stupid Critical Theory and Class Warfare propaganda doesn't work on everyone.

 

[Woodznutz]

Minumum wage in 1957 was 75 cent/hr.

Adjusted for inflation that's $8.33 today.

Jes' sayin'.

 

[Bitterhook]

Minumum wage in 1957 was 75 cent/hr.

Adjusted for inflation that's $8.33 today.

Jes' sayin'.

The minimum wage has the same value as a participation trophy, which isn't worth much.

I was lucky enough to be born in a time when it was fairly clear that the minimum wage was not going to be enough to be comfortable with, much less pretend it could even be comparable to the top wage earners in any realistic way.

 

[Woodznutz]

The minimum wage has the same value as a participation trophy, which isn't worth much.

I was lucky enough to be born in a time when it was fairly clear that the minimum wage was not going to be enough to be comfortable with, much less pretend it could even be comparable to the top wage earners in any realistic way.

I was grateful to have a job back then. Happily my pay went to $1/hr. shortly after I started. Even working part time in high school it paid for my cigarettes, car payment, gas and insurance. You see, all those costs were low as well.

 

[Bitterhook]

I was grateful to have a job back then. Happily my pay went to $1/hr. shortly after I started. Even working part time in high school it paid for my cigarettes, car payment, gas and insurance. You see, all those costs were low as well.

That's completely understandable, and I was able to afford car payments, gas and entertainment (my parents just included me in their insurance out of convenience) with what I made working afternoons and weekends during high school. Although I have to say that I was making way more than a $1/hr. and quite a lot more than minimum wage.

It was then that I figured out what was necessary to get what I wanted out of life and figured out that minimum wage wasn't going to cover that. It's possible I just wanted more than the minimum and was trying to prosper and not just survive.

However, I still see young people now bitching about never having enough money but ordering a $21 large pizza through Grubhub and paying almost twice that much when it is delivered. That's just stupid, and they don't even understand value, or proper money management. Shit, I could afford that and wouldn't do something that wasteful.

No wonder they are broke, and it has nothing to do with what the top 1% pays in taxes.

 

[Woodznutz]

That's completely understandable, and I was able to afford car payments, gas and entertainment (my parents just included me in their insurance out of convenience) with what I made working afternoons and weekends during high school. Although I have to say that I was making way more than a $1/hr. and quite a lot more than minimum wage.

It was then that I figured out what was necessary to get what I wanted out of life and figured out that minimum wage wasn't going to cover that. It's possible I just wanted more than the minimum and was trying to prosper and not just survive.

However, I still see young people now bitching about never having enough money but ordering a $21 large pizza through Grubhub and paying almost twice that much when it is delivered. That's just stupid, and they don't even understand value, or proper money management. Shit, I could afford that and wouldn't do something that wasteful.

No wonder they are broke, and it has nothing to do with what the top 1% pays in taxes.

I went full time at the grocery store after high school and soon had the opportunity to become a meat cutter at the same company (Kroger's). It was all gravy from then on. Good pay and benefits and plenty of pretty young check- out girls to date.

 

[Woodznutz]

The minimum wage has the same value as a participation trophy, which isn't worth much.

I was lucky enough to be born in a time when it was fairly clear that the minimum wage was not going to be enough to be comfortable with, much less pretend it could even be comparable to the top wage earners in any realistic way.

The minimum wage is for high school kids who work part time. It's not for adults to raise a family on.

 

[citygator]

/------/ "They still pay LESS than they historically pay in percentages"
Your class envy makes me laugh. Forget percentages. Look at the real dollars. Would you rather have 10% of $1 or 1% of $1,000? You do the math.

Elon Musk paid over $11 billion in taxes in 2021, which is one of the largest individual tax payments in U.S. history. How much have you paid in your entire life? I'm talking dollars, not percent.

I dont have class envy. I have way more than you. Not big deal just a fact.

I paid almost $370,000 in taxes last year. Not an Elon Musk level but about 450Xs a median tax payer and more than 26Xs an average taxpayer. You guys have lowered my taxes by about $30,000. Thank you. It is so funny that you desperately want me to pay $370K and not $400K I would have under Biden. Let me know if you want to hear what I spend the $30k on.

 

[Cellblock2429]

I dont have class envy. I have way more than you. Not big deal just a fact.

I paid almost $370,000 in taxes last year. Not an Elon Musk level but about 450Xs a median tax payer and more than 26Xs an average taxpayer. You guys have lowered my taxes by about $30,000. Thank you. It is so funny that you desperately want me to pay $370K and not $400K I would have under Biden. Let me know if you want to hear what I spend the $30k on.

/----/ I'm not desperate for you to pay anything. How about the 49% that pay no taxes? If you don't like the tax cut, tell your accountant to adjust your return so you pay the $400K.
BTW, congratulations on your successful business. I max out at about $200k fully retired.