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what %er are you?

Discussion in 'Political Discussion' started by Holy Diver, Nov 1, 2011.

  1. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    Summary of Federal Income Tax Data, 2009


    The Tax Foundation - Summary of Latest Federal Individual Income Tax Data


    Percent Income split point
    ============================================
    1% $343,927.00
    -------------------------------------------------------------------------------
    5% $154,643.00
    -------------------------------------------------------------------------------
    10% $112,124.00
    -------------------------------------------------------------------------------
    25% $66,193.00
    -------------------------------------------------------------------------------
    50% <$32,396.00




    Number of Federal Individual Income Tax Returns Filed 2009
    Total - 137,982,000
     
  2. Drewski

    Drewski In the Starting Line-Up

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    The top 1% starts at 350K?? Interesting, I figured it would have been way higher than that. I am be dumb, naive, stupid but I guess I would term 350K well to do, but not "rich"
     
    Last edited: Nov 1, 2011
  3. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    Lets not forget this figure is from 3 years ago too, so I imagine its a bit higher. But if the top 1% is say....400k/ear starting...


    doesnt it make THIS guy look like that much more of a complete douchebag?

    Tea party Rep.: Only $400,000 left after ‘I feed my family’ | Raw Replay

    “Yeah, that’s before you pay 500 employees, you pay rent, you pay equipment and food,” Fleming agreed. “Since my net income — and again, that’s the individual rate that I told you about — the amount that I have to reinvest in my business and feed my family is more like $600,000 of that $6.3 million. And so by the time I feed my family, I have maybe $400,000 left over to invest in new locations, upgrade my locations, buy more equipment.”
     
  4. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    OH...


    and I'm not asking people here to post salary or percentages, this is just so you can know where you stand in the grand scheme...
     
  5. Drewski

    Drewski In the Starting Line-Up

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    What does it cost to invest in new locations, upgrade locations and buy more equipment?

    Not trying to avoid the question; for all I know this guy could be a douche, but I dont have enough info there to make that claim. I have no idea what a person who runs some restaurants would pay to reinvest into their businesses or new locations.

    400K doesnt seem like a lot if you are paying a new rent on a new location, or buying new kitchen equipment etc etc etc.
     
    Last edited: Nov 1, 2011
  6. Drewski

    Drewski In the Starting Line-Up

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    Haha got that now. Sorry for the 1st grade reading level ;)
     
  7. chicowalker

    chicowalker Pro Bowl Player

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    Again, though, the person he was speaking with was misrepresenting his income. Big difference b/t $6mm and $600k, and he shouldn't be demonized for setting the record straight.
     
  8. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    he is saying he is pulling in 400k NET.

    thats his pocket $$, and he's complaining.




    "For God's sake, do not take my pocket money"

    -Simi (Coming to America)
     
  9. Drewski

    Drewski In the Starting Line-Up

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    You sure? I read the quote as "And so by the time I feed my family, I have maybe $400,000 left over to invest in new locations, upgrade my locations, buy more equipment.” meaning that after he feeds/houses/clothes/entertains his family, he has 400K to reinvest in his companies. I dont think that is a lot, but again, I could be reading it wrong, and I dont have any clue what it costs to run a couple of restaurants.
     
  10. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    yeah..I did read it...

    sorry...

    200K to feed his family
    400K to RE-invest in his $6.3 million biz.



    the $$ alone he uses to feed his family (gold dinosaur eggs, I assume) is in the top 5%...but lets not kid ourselves either...thats post tax, so its probably a lot higher.
     
  11. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    I'm not demonizing this douche bag, I'm douche-bagging him.
     

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