Top 2-3% Tax Cuts
- Thread starter Saltrock
- Start date
fitch303
Well-Known Member
If the Bush tax cuts are allowed to expire....
Specifically, the existing 10% bracket will go away, and the lowest “new” bracket will be 15%. The existing 25% bracket will be replaced by the “new” 28% bracket; the existing 28% bracket will be replaced by the “new” 31% bracket; the existing 33% bracket will be replaced by the “new” 36 % bracket; and the existing 35% bracket will be replaced by the “new” 39.6% bracket.
I personally believe there should be a new tax bracket for $850,000 and above. I think everyone should have to pay something, When you factor in the resources the bottom 2 brackets use in gov "benefits/social welfare programs" they receive far more than what they pay in. Not saying that's right or wrong but I hate when people say the rich receive the biggest tax cuts.....duh
UncleBuck
Well-Known Member
it is not involuntary because you can leave anytime you want. if you choose to stay, then they are voluntary. if you were forced to stay, then they would be involuntary.
i hear somalia has exceedingly low income tax levels. watch out for the warlords, though.
fitch303
Well-Known Member
That's a stretch...............
Saltrock
Active Member
Yeah good point. Unfortunately when you grow up really poor you are more likely to get pregnant and make poor decisions. Probably for every 1 person that grows up poor and becomes a productive member of society, there are 5 that were the unfortunate ones that live on government cheese and never made it out of the hole. Sounds like they may extend the tax cuts for everyone. But I doubt that will stimulate the economy that much, since those tax break are currently in effect.
Peace
SALT
...more likely to get pregnant and make poor decisions... wow, you couldn't be more wrong.
you'd be surprised to know the majority of millionaires in the US are 'new money'. so for every rich motherfucker out there, more likely than not, he/she grew up poor. :O
anyways, this is a discussion of Fiscal Responsibility.
republicans are all for Defense Spending, but they don't want to pay for it.
not raising taxes is going to add 700 billion dollars to our deficit.
PERIOD.
taxes have to go up. everybody agrees, the rich are more able to absorb tax-increases at this particular point in time.
about the only drawback to being rich right now. your taxes have to go up. but don't worry, you'll still be able to go to the lake house this thanksgiving, and to the beach house next summer........
you'd be surprised to know the majority of millionaires in the US are 'new money'. so for every rich motherfucker out there, more likely than not, he/she grew up poor. :O
anyways, this is a discussion of Fiscal Responsibility.
republicans are all for Defense Spending, but they don't want to pay for it.
not raising taxes is going to add 700 billion dollars to our deficit.
PERIOD.
taxes have to go up. everybody agrees, the rich are more able to absorb tax-increases at this particular point in time.
about the only drawback to being rich right now. your taxes have to go up. but don't worry, you'll still be able to go to the lake house this thanksgiving, and to the beach house next summer........
newatit2010
Well-Known Member
well if the tax is not going to produce more than 700 billion in 10 years WTF they are spending 3 trillion a year it will take a long time to recover like that don't you think. You want this problem fixed trade war with china that will do it stop imports and start making American products again. thats it. but notice your grocery bill this week check out the gas prices Here gas went up 23 cents in the pass few days and my grocery bill was 18 dollars higher this week. It is almost time to bend over and kiss our asses goodbye
rich people only buy foreign shit anyways.
lamborghinis, bentleys, bmw's, lexus, mercedez benz, mont blanc, bvlgari, armani, kobe beef, godiva, russian caviar, cartier, grey goose, johny walker, cristal, rolex, italian marble toilets.............
you name it.
the only american thing in a rich american's household is probably a rich american.
lamborghinis, bentleys, bmw's, lexus, mercedez benz, mont blanc, bvlgari, armani, kobe beef, godiva, russian caviar, cartier, grey goose, johny walker, cristal, rolex, italian marble toilets.............
you name it.
the only american thing in a rich american's household is probably a rich american.
Dan Kone
Well-Known Member
Cut? No. Their taxes should be raised, a lot.
Of course it won't. If republicans really wanted to create jobs by giving tax cuts to "job creators", they would be taxing about cutting the corporate tax rate, not the personal income taxes of rich people.
The best way to stimulate the economy? Food stamps. All that money is guaranteeing to go right back into the local economy.
The best way to stimulate the economy is to put it in the hands of those who are more likely to spend it.
Rich people are actually the least likely to put that money back into the economy. They are also the class most likely to spend that money over seas.
Dan Kone
Well-Known Member
They'll be ok. The rich haven't prospered this much since the great depression.
SCARHOLE
Well-Known Member
We are slowly killing the Goose that lays the golden eggs here in america with taxes.
The rich will pack up an go somewhere with a better tax system. Taking there money an jobs with em.
Most of small buessness men with are taxed at the same rate billl gates pays, why not retire when the gov gets to greedy?
Why do we penalize the most prospherus hard working wealthy people so strongly.
Would You socalist would be happer if we jailed Bill Gates an stole his fortune?
I will never start a small buisness cause of govt red tape an taxes. Im glad steve jobs didnt feel this way when he started apple, or we wouldnt be usin Personal Computers.
Was it Robin Hood or Stalin who "robbed from the rich to give to the poor"
The rich will pack up an go somewhere with a better tax system. Taking there money an jobs with em.
Most of small buessness men with are taxed at the same rate billl gates pays, why not retire when the gov gets to greedy?
Why do we penalize the most prospherus hard working wealthy people so strongly.
Would You socalist would be happer if we jailed Bill Gates an stole his fortune?
I will never start a small buisness cause of govt red tape an taxes. Im glad steve jobs didnt feel this way when he started apple, or we wouldnt be usin Personal Computers.
Was it Robin Hood or Stalin who "robbed from the rich to give to the poor"
Saltrock
Active Member
Wow, during the depression income tax rate was at like 70-90%, so did all the rich leave the states to go find better tax breaks? So to say we are killing the goose is a bit of an overstatement. I mean come on there taxes would go up a whole whapping 3-4%.
Its not like we are saying your taxes have to go up to depression rates. If you are rich and you are paying 35% income tax at the end of the year, then you are dumb, there are so many write-offs and rebates the rich can qualify for, they probably pay more like 20-25% in income taxes. Everyone wants a functional society where all the services are available. But no one wants to pay taxes, go figure. I also think big business requires more resource then the average man. They pollute the air with freight, they use the roadways more then a small businesses , and there is probably more they use that I cant think of. So yeah I think its fair they pay a bit more. Do I think it should be up to 60-70%, no. But that is not the issue here.
By penalized do you mean raising the taxes 3%?
So by raising the income tax 3% that is sending a message to Bill gates we want to jail him and take his fortune? laughable.
I have friends that have small businesses, one owns a snow removal company, other owns a asphalt company, other owns a limo service.
None of them make over $125,000, So not sure on what small businesses you know that pay as much of a % as bill gates in taxes.
From what I heard top top 1% have never been richer, so if they are asked to pitch in a bit more do not think we will be breaking them.
Peace
SALT
Saltrock
Active Member
Its the small businesses like my buddies who need a break. Income taxes, Payroll taxes, unsecured property taxes, city taxes. Probably a few I forgot. Look I am not for taking from someone who has made it big, but unless the rich want dirt roads, no basic facilities, american kids selling chiqles gum on the corners. They are going to have to pitch in a bit more. Cause the middle class is going to have no money soon, other then money to pay for bills and put food in there mouths.
Peace
SALT
Peace
SALT
SCARHOLE
Well-Known Member
At some point, they will have taxed the last smoker out of existence and forced all the wealthy to emigrate to friendlier places, then we can all revel in our Detroit Michigan-like economic disaster comfortable in the smug satisfaction that everyone is equally miserable.
New Data: Top 1% Pay Greater Dollar Amount in Income Taxes to Federal Government than Bottom 90%
http://economix.blogs.nytimes.com/2009/07/30/top-1-paid-more-in-federal-income-taxes-than-bottom-95-in-07/
New Data: Top 1% Pay Greater Dollar Amount in Income Taxes to Federal Government than Bottom 90%
http://economix.blogs.nytimes.com/2009/07/30/top-1-paid-more-in-federal-income-taxes-than-bottom-95-in-07/