I dont hate the rich at all. I don't really hate anyone. I just don't idolize them for having money. I'm not a homer.89Hen wrote:You're the one who hates the rich.kalm wrote:
AKA American mixed market regulated capitalism. It happened to build the greatest country on earth...hater.
kalm wrote:I just don't idolize them for having money.
Who does??
Your party.89Hen wrote:kalm wrote:I just don't idolize them for having money.
Cripes. So you're turning into DB2 as the election draws nearer?kalm wrote:Your party.89Hen wrote:
No. I won't vote for any Democrats either except maybe in local elections. But come on...Paul Ryan? The rising star of fiscal conservatism?89Hen wrote:Cripes. So you're turning into DB2 as the election draws nearer?kalm wrote:
Your party.
Hes admitted that Ayn Rand's writing defines his outlook. He has given copies of Atlas Shrugged to all new staff members. And the core belief of objectivism is man as heroic being and wealth as the marker. The whole producer/taker meme is a page right out of her book . kalm wrote:No. I won't vote for any Democrats either except maybe in local elections. But come on...Paul Ryan? The rising star of fiscal conservatism?89Hen wrote: Cripes. So you're turning into DB2 as the election draws nearer?
I'm not talking about for whom you are voting, I'm talking about the ridiculous (and false) generalizations. Basically DB has gone from adding "Catholic" to every thread to adding "Conk". He is a one trick pony and IMO you are better than that.
UD77 wrote:The problem is the government could take away all of the 1%ers wealth (not just a 100% tax but everything they own) and it would make a very minor dent in the amount of debt that we have today.
Making the 1% appear to be the bad guys when we all really want to be them is the biggest joke of all. They are not the devil. How many jobs do the bottom 50% create???
Not so much as a clue Federal Income Tax Brackets for 2012danefan wrote:Paying a lot of taxes and paying their fair share isn't the same thing.UD77 wrote:
You can believe all the BS that is in the media about the rich not paying their fare share or you can see the actual data above - Top 1% pay 36.73% of all the federal income tax that is paid. The bottom 50% pay 2.25% of all the federal income tax.
Flat tax is fair. 1%ers with a 15% ETR versus the middle 50% with a 30% ETR is not fair.
You said: The gov't could take away ALL the 1% wealthUD77 wrote:Federal Income Tax Brackets for 2012danefan wrote:
Paying a lot of taxes and paying their fair share isn't the same thing.
Flat tax is fair. 1%ers with a 15% ETR versus the middle 50% with a 30% ETR is not fair.
Here’s a quick rundown of what the Federal income tax brackets are expected to look like in 2012:
Tax Bracket Married Filing Jointly Single
10% Bracket $0 – $17,400 $0 – $8,700
15% Bracket $17,400 – $70,700 $8,700 – $35,350
25% Bracket $70,700 – $142,700 $35,350 – $85,650
28% Bracket $142,700 – $217,450 $85,650 – $178,650
33% Bracket $217,450 – $388,350 $178,650 – $388,350
35% Bracket Over $388,350 Over $388,350
And here are a few related points:
The personal and dependency exemption will rise to $3,800
The standard deduction for married filing jointly will rise to $11,900
The standard deduction for singles will rise to $5,950
Of course this is ordinary income not capital gains. If you live off of capital gains then you will have a much lower tax rate but then again that is not "income" by the IRS definition.
1. If you are talking about what people pay and their "fair share", tax brackets mean nothing to me. ETR means everything.UD77 wrote:Federal Income Tax Brackets for 2012danefan wrote:
Paying a lot of taxes and paying their fair share isn't the same thing.
Flat tax is fair. 1%ers with a 15% ETR versus the middle 50% with a 30% ETR is not fair.
Here’s a quick rundown of what the Federal income tax brackets are expected to look like in 2012:
Tax Bracket Married Filing Jointly Single
10% Bracket $0 – $17,400 $0 – $8,700
15% Bracket $17,400 – $70,700 $8,700 – $35,350
25% Bracket $70,700 – $142,700 $35,350 – $85,650
28% Bracket $142,700 – $217,450 $85,650 – $178,650
33% Bracket $217,450 – $388,350 $178,650 – $388,350
35% Bracket Over $388,350 Over $388,350
And here are a few related points:
The personal and dependency exemption will rise to $3,800
The standard deduction for married filing jointly will rise to $11,900
The standard deduction for singles will rise to $5,950
Of course this is ordinary income not capital gains. If you live off of capital gains then you will have a much lower tax rate but then again that is not "income" by the IRS definition.
For individuals it would not get close to paying off half of the current debt. Now if you wanted to take away all the wealth held by all US companies and individuals then you could pay it off but that is called a different type of government than what we are suppose to have in the US. Our government just needs to stop spending way more than we have.Chizzang wrote:UD77 wrote:The problem is the government could take away all of the 1%ers wealth (not just a 100% tax but everything they own) and it would make a very minor dent in the amount of debt that we have today.
Making the 1% appear to be the bad guys when we all really want to be them is the biggest joke of all. They are not the devil. How many jobs do the bottom 50% create???
You are proving that you have absolutely NO IDEA how much wealth that 1% holds
I like your enthusiasm and understand your opinion - but you have not a clue what you're talking about
and yes the bottom 50% doesn't own **** or produce **** - agreed
He doesn't have a clue what he's talking aboutdanefan wrote:1. If you are talking about what people pay and their "fair share", tax brackets mean nothing to me. ETR means everything.UD77 wrote:
Federal Income Tax Brackets for 2012
Here’s a quick rundown of what the Federal income tax brackets are expected to look like in 2012:
Tax Bracket Married Filing Jointly Single
10% Bracket $0 – $17,400 $0 – $8,700
15% Bracket $17,400 – $70,700 $8,700 – $35,350
25% Bracket $70,700 – $142,700 $35,350 – $85,650
28% Bracket $142,700 – $217,450 $85,650 – $178,650
33% Bracket $217,450 – $388,350 $178,650 – $388,350
35% Bracket Over $388,350 Over $388,350
And here are a few related points:
The personal and dependency exemption will rise to $3,800
The standard deduction for married filing jointly will rise to $11,900
The standard deduction for singles will rise to $5,950
Of course this is ordinary income not capital gains. If you live off of capital gains then you will have a much lower tax rate but then again that is not "income" by the IRS definition.
2. Capital income is absolutely income. Capital and Ordinary are merely two classifications of income that for individuals happen to be taxed at different statutory rates.
JP Morgan family alone removed there money from this country 100 years ago - you know - JP Morgan / Chase It's amazing that Chase and B of A and Rothchild family have brilliantly convinced this guy to actually "defend them" as giving their fair share and we need to lighten up on all those "Producers" Last reports show that one of the Rothchilds (7th gen. sons) had over 50 billion freely visible in the US Banking system - that's what he just left lying around We agreeUD77 wrote:For individuals it would not get close to paying off half of the current debt. Now if you wanted to take away all the wealth held by all US companies and individuals then you could pay it off but that is called a different type of government than what we are suppose to have in the US. Our government just needs to stop spending way more than we have.Chizzang wrote:
You are proving that you have absolutely NO IDEA how much wealth that 1% holds
I like your enthusiasm and understand your opinion - but you have not a clue what you're talking about
and yes the bottom 50% doesn't own **** or produce **** - agreed
You're sounding eerily like that expandsos guy now. Just saying.Chizzang wrote:He doesn't have a clue what he's talking aboutdanefan wrote:
1. If you are talking about what people pay and their "fair share", tax brackets mean nothing to me. ETR means everything.
2. Capital income is absolutely income. Capital and Ordinary are merely two classifications of income that for individuals happen to be taxed at different statutory rates.
He thinks the 1% don't really control that much money - because it doesn't show up on US tax data
Our very own Federal Reserve banking system is privately owned - gee I wonder how much money that is
too much - make it stop
Imagine what you can't see...
That's one 7th generation grandson - just ONE
Chizzang wrote:He doesn't have a clue what he's talking aboutdanefan wrote:
1. If you are talking about what people pay and their "fair share", tax brackets mean nothing to me. ETR means everything.
2. Capital income is absolutely income. Capital and Ordinary are merely two classifications of income that for individuals happen to be taxed at different statutory rates.
He thinks the 1% don't really control that much money - because it doesn't show up on US tax data
Our very own Federal Reserve banking system is privately owned - gee I wonder how much money that is
too much - make it stop
Imagine what you can't see...
That's one 7th generation grandson - just ONE
We've always had a spending problemHI54UNI wrote:Chizzang wrote:
He doesn't have a clue what he's talking about
He thinks the 1% don't really control that much money - because it doesn't show up on US tax data
Our very own Federal Reserve banking system is privately owned - gee I wonder how much money that is
too much - make it stop
Imagine what you can't see...
That's one 7th generation grandson - just ONE
I don't know where the 1% ends but if you use the Forbes 400 richest Americans their total wealth adds up to about $1.3 trillion. Not quite enough to balance the budget for 1 year.
You're right about us having a spending problem and not a revenue problem.
Those are two different things, aren't they? You can be over taxed but not "burdened too much". This is the problem the Obama's have. They don't know the difference.Chizzang wrote:However: The 1% are in no way "over taxed" or burdened too much
Well I think I was pretty clear:89Hen wrote:Those are two different things, aren't they? You can be over taxed but not "burdened too much". This is the problem the Obama's have. They don't know the difference.Chizzang wrote:However: The 1% are in no way "over taxed" or burdened too much
http://money.msn.com/tax-planning/whats ... l-tax-rateChizzang wrote:Well I think I was pretty clear:89Hen wrote: Those are two different things, aren't they? You can be over taxed but not "burdened too much". This is the problem the Obama's have. They don't know the difference.
They are neither
If it's your opinion that paying a higher percentage of your income because you make more is fair, then I won't change your mind.Average federal tax rate for taxpayers with positive AGI*
Minimum income Average federal tax rate
Total* N/A 11.06%
Top 1% $343,927 24.01%
Top 5% $154,643 20.26%
Top 10% $112,124 18.05%
Top 25% $66,193 14.68%
Top 50% $32,396 12.5%
*All taxpayers with positive AGI in 2009, the latest year for which statistics are available.
Source: IRS
You and Obama think a lot alike on this one.Chizzang wrote:The elite wealthy are not over taxed in our system
It's a good deal for them here in this country where we pay hundreds of percentage points more in salary to our top executives than anybody - anywhere else in the world
So they have a system here in the US that pays them 500% more than anywhere else in the world
I repeat - things are really good for the elite wealthy here in the US
I'm about to keep some janitors at a brewery employed.kalm wrote:FTR, if 2/3 of GDP is consumer spending, than I'm guessing the bottom 50% actually create quite a few jobs. Just sayin...again.
