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Re: Obama Proposing Tax Cut Of $1,000 for Most Families???
Quote:
Originally Posted by PatriotsReign
Obama already said he thinks of wealthy starting at $250K. I'd have to agree with him.
I'm not even sure that's "wealthy" in major citites. I don't know, I don't live in a major city but after taxes and a sizeable mortgage I bet someone making that has plenty of money but still has to watch their money.
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Re: Obama Proposing Tax Cut Of $1,000 for Most Families???
Quote:
Originally Posted by BelichickFan
I'm not even sure that's "wealthy" in major citites. I don't know, I don't live in a major city but after taxes and a sizeable mortgage I bet someone making that has plenty of money but still has to watch their money.
Yeah, but that would only be because they CHOSE to live in a major city. it takes wealth to choose live anywhere you want so that's not a good example BF.
"Hey, I don't have much money because my Beacon Hill townhome costs me $10K/month!" nah, I don't think so!
Re: Obama Proposing Tax Cut Of $1,000 for Most Families???
Quote:
Originally Posted by PatriotsReign
Yeah, but that would only be because they CHOSE to live in a major city. it takes wealth to choose live anywhere you want so that's not a good example BF.
"Hey, I don't have much money because my Beacon Hill townhome costs me $10K/month!" nah, I don't think so!
Most high paying jobs are in major cities and I don't begrudge a successful person from buying a nice house. $250K is low IMO. $500K, I guess I'd call that wealthy. $1M for sure.
Re: Obama Proposing Tax Cut Of $1,000 for Most Families???
Quote:
Originally Posted by FreeTedWilliams
IT is a straight out redistribution of wealth, these people ALREADY PAY NO INCOME TAXES, and now in addition to the money they already get from EIC, he is going to give them an additoinal $1,000, so if I were you, I would open up a Big Screen TV business, because that is what they are going to spend there moeny on (updrading the current big screen TV that they already have).
This is the dumbest thing in the whole, if you really want to get the economy going , lessen the tax burden on the people and business that actually create jobs! This will do nothing more than more the country towards Obama's coveted 50% dependent on the government for their very lives.
LOL, it's so funny you say that. Just this morning I was doing exterminations in some of our subsidized units, and one of the tenants, "single" mom with a kid, who's like 20 years old, had a 50" Sony flat screen, with an XBOX360, and a Nintendo Wii along side. All this while paying like $50 per month in rent. Oh, and I say "single" cuz the babies father doesn't live there at all. No, nope, no way, na-ha...
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"The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him." Leo Tolstoy, 1897
Re: Obama Proposing Tax Cut Of $1,000 for Most Families???
Quote:
Originally Posted by Synovia
I know the tax cuts weren't the reason for the crash. I just think the crash is good evidence that the tax cuts didn't have any lasting benefit, and have increased tax burden significantly. We're going to be paying interest on that tax cut for the rest of our lives.
No, tax revenues remained unchanged before/after the cut, so we're not going to be paying interest on the tax cut. We WILL be paying interest on the orgy of spending that accompanied the tax cuts though. That was just plain dumb by the admin and congress. It is a mistake I'm afraid the Obama admin is now planning on repeating, cutting taxes on lower/middle class taxpayers (and giving more $ to non-taxpayers and calling it a tax cut) while increasing spending.
As for tax burden the only ones who saw their tax burden go up were the top % of taxpayers (they got the biggest cut but still ended up percentage-wise with a higher burden than before the cuts).
Re: Obama Proposing Tax Cut Of $1,000 for Most Families???
Quote:
Originally Posted by Stokes
As for tax burden the only ones who saw their tax burden go up were the top % of taxpayers (they got the biggest cut but still ended up percentage-wise with a higher burden than before the cuts).
Someone's not going to believe you so here's a link, Table 6 :
The Top 1%, 5%, 10% initially saw their tax burden drop under Bush but by 2006 they paid a higher percentage of the total tax than they did when Bush took over. And while their share of the Gross Income of the country also went up they clearly pay their fair share - for example in 2006 the Top 1% made 22% of the Gross Income and paid 40% if the Income Tax.
Re: Obama Proposing Tax Cut Of $1,000 for Most Families???
Quote:
Originally Posted by PatriotsReign
You can't define wealth from a subjective viewpoint. If you made $30K 5 years ago and now make $50K, you know you're not wealthy. Yet when you made $30K, it' seemed like $50K would be a lot of money...but it's not.
My point is, 100K is not wealthy. Sure it's good money, but that's not the same as being wealthy. Obama already said he thinks of wealthy starting at $250K. I'd have to agree with him.
$100k is welathy if you live in a trailer park. so I think you should go for the biggest trailer
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Re: Obama Proposing Tax Cut Of $1,000 for Most Families???
Quote:
Originally Posted by BelichickFan
I'm not even sure that's "wealthy" in major citites. I don't know, I don't live in a major city but after taxes and a sizeable mortgage I bet someone making that has plenty of money but still has to watch their money.
I live in a major city. $250K a year is a metric ****-ton of money.
If you don't think 250K a year is wealthy, you are seriously out of touch with what the average american is living with.
Re: Obama Proposing Tax Cut Of $1,000 for Most Families???
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