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      04-23-2011, 08:46 PM   #45
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Are you paying 50% on the first 35,000?
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      04-23-2011, 09:07 PM   #46
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Are you paying 50% on the first 35,000?
My total income is a lot more than $250,000. And the 50% includes local, state, property and federal taxes. It all adds up. It sucks.
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      04-23-2011, 10:50 PM   #47
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My total income is a lot more than $250,000. And the 50% includes local, state, property and federal taxes. It all adds up. It sucks.
I'm not doubting that you feel it does, but my point is that you're paying for the majority, which contributes indirectly to your salary, that can't be taxed their fair share.
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      04-25-2011, 03:30 PM   #48
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My total income is a lot more than $250,000. And the 50% includes local, state, property and federal taxes. It all adds up. It sucks.
What are you? A day-trader operating without a corporate shelter? Are you a housing speculator with multiple properties triggering multiple property tax bills? Is all your income coming from a single source, without any income from things that are taxed at the 15% Capital Gains rate?

Maybe you need to diversify into more investments that qualify as long-term capital gains. Or incorporate and shift more of your pay into shareholder dividends taxed at 15% (you being the primary shareholder).

People who pay that kind of effective tax rate generally need the advice of an advanced tax/investment advisor. There really isn't much reason for most folks to have to pay that kind of effective tax rate with proper diversification, incorporation, and tax advice from a proper advisor.
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      04-27-2011, 09:15 PM   #49
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I support a flat tax of 25%. I'm paying 50% now while half the country isn't paying jack.
I'm with you buddy. I am sick and tired of paying the lions share for dead beats with an unwavering entitlement complex. You want the services, pay for them. Maybe that will encourage people to get off the system.
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      04-28-2011, 02:01 PM   #50
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A flat tax makes no sense. If you have a household income of $60K for a family of 4, you've got no disposable income - every penny is allocated for living essentials. But at say $250K, much of your income is available for electives. You still keep more as you make more, but trying to get more from the working poor is like getting blood from a stone.

Why do people accept money pooling for taxes, insurance, medical costs, road construction, police, schools, etc but not for income?
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      04-28-2011, 09:25 PM   #51
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A flat tax makes no sense. If you have a household income of $60K for a family of 4, you've got no disposable income - every penny is allocated for living essentials. But at say $250K, much of your income is available for electives. You still keep more as you make more, but trying to get more from the working poor is like getting blood from a stone.

Why do people accept money pooling for taxes, insurance, medical costs, road construction, police, schools, etc but not for income?
Because there is a difference between people in need and people abusing the system. He made the most of the same opportunity everyone in this country has. I made pretty good use of the opportunity as well. I pay income taxes, property taxes, yet I don't have kids in school, i use the same roads everyone else and the police don't visit me as much as most of my non tax paying counter parts. I also pay $650 a month for health insurance for me and my wife. Yet those who don't have health insurance get free medical treatment.

On top of non tax paying citizens getting an equal vote come election time, free medical treatment, public schooling, road use, and police usage; many of them get a nice sum of money back as I'm stroking a check to Uncle Sam.
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      04-28-2011, 09:41 PM   #52
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I also pay $650 a month for health insurance for me and my wife. Yet those who don't have health insurance get free medical treatment.
If there were only a law that would require these slackers to pay for their own damn health insurance, or at least contribute SOMETHING towards their own health insurance....
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      04-29-2011, 06:37 AM   #53
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If there were only a law that would require these slackers to pay for their own damn health insurance, or at least contribute SOMETHING towards their own health insurance....
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      04-29-2011, 08:54 AM   #54
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Because there is a difference between people in need and people abusing the system. those who don't have health insurance get free medical treatment. On top of non tax paying citizens getting an equal vote come election time, free medical treatment, public schooling, road use, and police usage; many of them get a nice sum of money back as I'm stroking a check to Uncle Sam.
Agreed, but people like you tend to focus on the freeloaders, while statistically, the vast majority of this country is comprised of a sinking middle-class - those who pay taxes, medical costs, and insurance, but are losing the cost-of-living battle. Meanwhile, the wealthiest in this country are leaving the middle-class in the dust; the gap is widening.
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      04-29-2011, 07:32 PM   #55
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Quote:
Originally Posted by ScotchAndCigar View Post
Agreed, but people like you tend to focus on the freeloaders, while statistically, the vast majority of this country is comprised of a sinking middle-class - those who pay taxes, medical costs, and insurance, but are losing the cost-of-living battle. Meanwhile, the wealthiest in this country are leaving the middle-class in the dust; the gap is widening.
I haven't paid much attention to Trump. After my first drink, I thought I would comment.

The gap is widening (if it is, I haven't verified anything with statistics) and it is because the wealthy hold the wallets of the those in governement. They collaborate to enlarge their own interests. That is more governent to enslave the people with employment.

The middle class and the entrepreneur are severely disadvantaged by a rigged system.

The best remedy is an unknown quantity. My instinct is to diminish big government and enagle small business. This could be approached by enacting the 10th Amendment. The federal government's responsibilities are well-defined and limited by the entire constitution. It is only by misinterpretation by the rulers that the federal government has prevailed.

The states should re-establish their sovereign control of all that is not explicitly a provision of the Constitution to the federal government.

We need to eliminate income tax with the repeal of the century old Amendment to the constitution that enable it. Then small business would be closer to a level playing field with big business. This would also help with making the federal governement a smalll fraction of the size it has imposed upon us.

Time for another drink...

Happy Friday!
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      04-30-2011, 12:58 PM   #56
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If there were only a law that would require these slackers to pay for their own damn health insurance, or at least contribute SOMETHING towards their own health insurance....
Amen to that!!!!!

The latest study says that about $1,000.00 a year of our premiums goes to cover the uninsured through cost shifting.

I've always thought that showing a health insurance card to buy cigarettes and booze would be a good idea. Folks using EMTALA for basic healthcare shouldn't be allowed to engage in risky behaviour.

And Obama is going about healthcare reform all wrong. Instead of requiring health insurance just repeal the unfunded mandate called EMTALA in a few years. No insurance, and no money, gets you nothing but palative care. That way the BS "unconstitutional" arguments against forcing everybody to buy insurance would go away. If they can't be forced to buy insurance then hospitals shouldn't be forced to treat them.
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      05-02-2011, 08:38 AM   #57
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I will quote Seth Myers from the White House correspondents dinner.

"Donald Trump has been saying he would run for president as a Republican, which is surprising since I just assumed he was running as a joke"
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      05-02-2011, 09:35 AM   #58
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Don't know a huge amount about Trump's politics. I assume that he is slightly more sane than these froot-loop Tea Party people who would hand the keys back to Obama?

It would be nice to see both sides accept that the opposition are not the anti-Christ. Some of the coverage we get is hilarious, but hilarity isn't condusive to good government. The stand-off where you nearly shut down government for example - whichever side you're on it was madness, and you can't just blame it on the other side. Takes two to tango, and how often do policies of one side get picked up by the other once the election is out of the way?
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      05-02-2011, 10:47 AM   #59
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Quote:
Originally Posted by VenomBMW View Post
Flat tax FTW. That would fix so many issues and make it way easier to come up with budgets and programs. A 25% federal income tax should be put in place and state taxes can vary.
Flat tax would never work because the top 5% of earners pay more than the other 95% in taxes. The tax structure would have to be higher then 25%.
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      05-02-2011, 03:03 PM   #60
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Flat tax would never work because the top 5% of earners pay more than the other 95% in taxes. The tax structure would have to be higher then 25%.
Actually, despite Bush ordering the figures NOT to be disclosed, we now know that the effective tax rate that the top 400 wealthy families in the US pays is just 16%

"The incomes of the top 400 American households soared to a new record high in dollars and as a share of all income in 2007, while the income tax rates they paid fell to a record low, newly disclosed tax data show..."

"Their effective income tax rate fell to 16.62 percent"

And it isn't just a fluke that the top 400 had these rates. The extremely low effective tax rate extends down the the top 5 percent of tax payers, at just a 17% effective tax rate.

"Taxpayers on the 95th to 99th steps on the income ladder paid an effective income tax rate of 17.52 percent"


http://www.taxanalysts.com/www/featu...7?OpenDocument


A straight 25% tax rate, including social security and payroll tax would lower taxes for the middle class, while raising taxes for the rich and poor.

Some flat tax plans don't tax the basic sustenance required to live, so the gov't isn't literally taxing the food out of the mouths of children. The most basic plan uses the Standard Deductions for each member in a family that is already in our tax code, by indexing that Standard Deduction to the poverty level.


So it always cracks me up when right wingers promote a flat tax where the top 5% of tax payers would see their tax bills go up by around 50% more than their current tax bill. All while complaining that raising the base tax rate for those making over 250,000 a year by just 4% will somehow destroy the world.

We don't really need to go to all the bother of going to a flat tax. We could accomplish the same thing by doing what Reagan did in 1985-87. Reagan gutted tax exemptions out of the tax code, effectively raising more taxes than any point previously in history.

With all that said, I do see the appeal of a completely simple tax system, since dis-information about the current tax system is so easy to spread.
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      05-02-2011, 05:18 PM   #61
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I now fully support Trump for president.
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      05-16-2011, 05:17 PM   #62
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Trump tells Trump: Your Fired!!

It was announced that Trump is officially making a joke out of the Republican ticket by firing himself from the job of Candidate for the Republican nomination for President.

Even worse, Trump used and abused all the folks who backed his run for US President to negotiate a better deal with NBC ($60 million dollar 3-year deal). How does it feel to find out you were nothing but a negotiating card for a Billionaire to make more money on the backs of your support?

Trump was, and will always be about cashing in at the expense of the Republican party.
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      05-17-2011, 05:13 AM   #63
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Who the fark still watches that show? I have paint that dries that is more entertaining to watch.
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      05-17-2011, 09:34 PM   #64
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Who the fark still watches that show? I have paint that dries that is more entertaining to watch.

Apparently fewer and fewer people since his latest stunt. His ratings are dropping like a stone. If they keep going down like this, he'll have to turn it into an informercial and pay NBC to run it.
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      05-17-2011, 09:51 PM   #65
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Buying a Trump Property, or So They Thought

http://www.nytimes.com/2011/05/13/ny...name-only.html

Trump responds

http://classic.cnbc.com/id/15840232?...0021840&play=1
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      05-17-2011, 10:24 PM   #66
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