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what %er are you?

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

  1. Holy Diver

    Holy Diver Rookie

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    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 Rookie

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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 Rookie

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    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 Rookie

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    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 Rookie

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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 Rookie

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

    chicowalker Rookie

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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 Rookie

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    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 Rookie

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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 Rookie

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    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 Rookie

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

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