that's our problem, we're so focused on the rest of the world. We should be concentrating on securing our own borders and ports. which would be significantly cheaper than having a military spread out all over the world where people don't want us.
Edwards nails it: Tax Fairness
- Thread starter Cypress
- Start date
that's our problem, we're so focused on the rest of the world. We should be concentrating on securing our own borders and ports. which would be significantly cheaper than having a military spread out all over the world where people don't want us.
No, I don't think that.
Do YOU think that a "slash the military!' is what the dems should run on to win? Because if so, stick to economics, you don't know shit about politics, and you'll decimate the Democratic party and leave us with nothing but Republicans as surely as if Cindy Sheehan were running the DNC.
M'eh. Between this garbage and it taking him years to admit Iraq was a mistake he can stick a fork in himself. He's done.
I mean, he's basically proposing giving people's money away. Lets just say only your income of after $200 is taxed. You're entire household is making $250 (which for NYC is definitely not rich). If he only increases it 1%, that's where he's getting the $500 to match families with less income.
True, but I think it would be a great thing to do once in office.
No one ever talks about cutting spending, or ways to make gov't more efficient. In the 1st debate, it was actually Obama who said something to the effect of "the 1st question on our minds should be how we can reduce what we're spending, and not how can we raise taxes to pay for more." I was like, "Amen!!!"
Gore's "reinventing government" program was getting some great results at the end of the '90's, but Bush abandoned it...
Gore's "reinventing government" program was getting some great results at the end of the '90's, but Bush abandoned it...
Yeah but, I don't have a problem with that Tiana. Even if it were to come to pass, which guess what? It won't , because what candidates run on hardly ever resembles what eventually gets passed.
But he's going in the right direction anyway.
LadyT:
250K a year is pretty bloody rich, even in New Jersey, New York, or California.
Do you know what kind of income that is, even after taxes? Isn't it like 15 grand a month? Are you going to have a problem paying for a vacation, let alone your mortgage, while netting $15k a month?
If you consider it a burden to pay a small marginal tax increase, on that last 50k of wages, on a 250K gross salary, that's fine. I won't argue. That's your personal view.
So do I.
I didn't catch that part. But he's got one up on edwards (a big one at that) for me if that's the case.
There are a lot of things we could do, but no one inside washington wants t think outside the box.
Topspin
Verified User
cypress thats why your ilk gets crushed like mondale/dukakis.
If you can afford x at 250m we tax the fuck out of you.
= scare the shit out of the smartest most productive group of americans and why it loses EVERYTIME.
DUHLA, where did I say they should run on it. They should do it, cons would pin there cypress like weak asses in a corner if they tried to run on it.
If you can afford x at 250m we tax the fuck out of you.
= scare the shit out of the smartest most productive group of americans and why it loses EVERYTIME.
DUHLA, where did I say they should run on it. They should do it, cons would pin there cypress like weak asses in a corner if they tried to run on it.
It's good to see tops getting his moxie back; his investments must be doing better today. That "it's all about family" stuff this morning really threw me for a loop...
that was Bill Clinton's plan in 1992, dummy. He won.
And the Clinton economy was way better than the Bush economy. Rich people made out like bandits.
CIA TOTALITARIANISM
Verified User
If the sentiment of the rich towards the regular folk wasn't what it is, as evidenced by their willingess to ship american jobs overseas and import cheaper labor in violation of immigration law, we might care about the unfairnesses and travesties bestowed upon the rich. Welcome to society. It is not your right to bifurcate the family of man, based on your own greed. Free trade is NOT politicians defying the will of the people to enact corporopositive feudalism.
Cancel 2016.2
The Almighty
"I suspect the ultra-wealthy are paying a lower percentage of their income in tax NOW, than middle class working stiffs are. "
Effective tax rates are probably around 15-20% for most people. All the tax loopholes and deductions that are currently available complicate the tax code, yet that is what politicians have to do to get idiots like you to accept an essentially flat effective tax rate for all.
"Paris Hilton, and Warren Buffet make most of their income from investments not payroll wages."
True
"Investment income is typically taxes at a lower rate than payroll wage income: "
Totally depends on the income rate.
"Taxes on dividends are never higher than 15% effective rate,"
Incorrect.... dividends are taxed as ordinary income. The dollars earned here are the same as income.
" the effective tax rate on capital gains, is around 20% (I think),"
Correct. If you are referring to LONG term cap gains. They are capped at 20%. Short term cap gains are treated as ordinary income, but have a top rate of 28%.
"and the fed tax on interest income on municipal and state bonds is ZERO."
Depends on the muni bonds in question and is why the alternative minimum tax was implemented in the first place. Munis that are for non-profits or direct government programs are not taxed at the federal level. But these munis offer a lower overall rate of return in exchange. So it is like an indirect tax.
Munis for "for-profit" groups are subject to AMT. If you qualify for AMT you are going to get tagged hard for the income from these bonds. Unfortunately, more middle class families are gettting hit with this tax because once again the idiots in DC had no foresight when AMT was created. They did not adjust the qualifications for inflation.
Clarifications of the above....
Effective tax rates are probably around 15-20% for most people. All the tax loopholes and deductions that are currently available complicate the tax code, yet that is what politicians have to do to get idiots like you to accept an essentially flat effective tax rate for all.
"Paris Hilton, and Warren Buffet make most of their income from investments not payroll wages."
True
"Investment income is typically taxes at a lower rate than payroll wage income: "
Totally depends on the income rate.
"Taxes on dividends are never higher than 15% effective rate,"
Incorrect.... dividends are taxed as ordinary income. The dollars earned here are the same as income.
" the effective tax rate on capital gains, is around 20% (I think),"
Correct. If you are referring to LONG term cap gains. They are capped at 20%. Short term cap gains are treated as ordinary income, but have a top rate of 28%.
"and the fed tax on interest income on municipal and state bonds is ZERO."
Depends on the muni bonds in question and is why the alternative minimum tax was implemented in the first place. Munis that are for non-profits or direct government programs are not taxed at the federal level. But these munis offer a lower overall rate of return in exchange. So it is like an indirect tax.
Munis for "for-profit" groups are subject to AMT. If you qualify for AMT you are going to get tagged hard for the income from these bonds. Unfortunately, more middle class families are gettting hit with this tax because once again the idiots in DC had no foresight when AMT was created. They did not adjust the qualifications for inflation.
Clarifications of the above....
I definitely don't think its rich. Especially if you are trying to buy a home in these parts for the first time. If you purchased a house 10 years ago when the market was down considerably, then yes, you are living pretty well. But if you're a first time homebuyer, with kids, a car note, mortgage, and other bills, I think it presumptious to think that an additional $1000 or whatever the amount he wants to raise it is marginal. That's significant. Now you could argue that those individuals could take it out of a vacation fund or do with out a particular luxury or have it creep into their savings but why the hell should they? Congress needs to stop spending like drunken sailors.
the burden shouldn't be on us.........no....you know what it is on us. We need to start electing people that know how to balance a budget and pinch a few penny's.
T
TRGLDTE
Guest
High income individuals pay taxes on the 'tax exempt bonds' through the AMT. AMT kicks in at one of several levels, the highest of which is $150,000. Mortgage interest deductions can be limited. Take a look at Form 6251.
Cancel 2016.2
The Almighty
"200K per person or household?"
The problem with assigning an arbitrary income like this is that it does not factor for cost of living. $200k in NYC is not the same as $200k in Toad Suck, Arkansas. (yes, they actually have a town called Toad Suck)
Edwards plan sucks... which should not be a shock to anyone who understands the slick little trial lawyer is simply pandering to constituents (yes, just like they all do). No way half his crap ever comes close to getting passed.
The problem with assigning an arbitrary income like this is that it does not factor for cost of living. $200k in NYC is not the same as $200k in Toad Suck, Arkansas. (yes, they actually have a town called Toad Suck)
Edwards plan sucks... which should not be a shock to anyone who understands the slick little trial lawyer is simply pandering to constituents (yes, just like they all do). No way half his crap ever comes close to getting passed.
Sf you're back!
I didn't read any of this, and don't plan to, but I am glad you're back.
T
TRGLDTE
Guest
Top 1% is $276,000+