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Thread: N.Y. millionaire tax gets a push from poll, Occupy Wall St.

  1. #91
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    Re: N.Y. millionaire tax gets a push from poll, Occupy Wall St.

    Quote Originally Posted by Reg View Post
    It's relevant. As with any legislation, agency rules enacted after the fact under its auspices can and do have effects.

    Government crashed the housing market.
    This a weak argument. Do you understand the purpose of the ECOA is to protect minorities from discrimination, and that has nothing to do with money or forcing anybody to sell a house to the poor or to somebody whom can't afford a house? The ECOA doesn't require anybody to sell a house to a minority either. It just makes it illegal to outright refuse to sell because of race, religion, gender, etc. You're basically blaming the housing crisis on black/Asian/Native America/Jewish/women, etc. Do you realize that?

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    Re: N.Y. millionaire tax gets a push from poll, Occupy Wall St.

    Quote Originally Posted by Higgins86 View Post
    lol who said anything about socalism? You guys love to throw that word out to scare the masses away, some of us are not that naive! Alos let us not forget income tax for the rich was at his highest during Americas boom, funny that!
    what years were those

    the ones where America was the ONLY remaining superpower economically after the factories of Japan, Germany, France and England were bombed flat

    btw that was the era of Jim Crow, no civil rights etc. Cause and effect tend to bitch slap such claims

    America was rapidly becoming the world superpower before we had the new deal and confiscatory income tax rates as well

    How the hell did America go from being a new kid on the bloc to the big dog without socialist income redistribution?

    gee FREEDOM must have worked and we didn't need 50% taxes on the most productive people as we have now



  3. #93
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    Re: N.Y. millionaire tax gets a push from poll, Occupy Wall St.

    Quote Originally Posted by TurtleDude View Post
    I will tell you how I do

    I only spend about a tenth of what I make each year. (of course taxes take about 40% of what I make) but that still means half of my income is left over. So I invest it.

    yeah I live on a nice 25 acre piece of property-when I bought it it was farm land going for about 5K an acre and now-well I am surrounded by subdivisions and one of my neighbors sold his 5 acres for 500K so you get the idea. But I also drive an 11 year old Lexus I bought used and its got 155K on it. I don't feel a need to buy a new car every year-in fact my last three cars have been used. I don't take expensive vacations-the last time I paid for a trip out of the country was my honeymoon 18 years or so ago. Neither of us drink and I rarely eat at expensive restaurants. I guess the one real luxury i have-other than sending my son to the best school I can find is belonging to a country club where I spend tons of time playing tennis and squash and coaching

    but the bottom line is spending less than I make and investing for the LONG TERM
    I run my house finances just like a business.
    Cut costs, increase revenues, invest in income producing assets, keep some amount of liquidity and credit to float for unforeseen events(both good and bad).
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

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    Re: N.Y. millionaire tax gets a push from poll, Occupy Wall St.

    Quote Originally Posted by Reg View Post
    It's relevant. As with any legislation, agency rules enacted after the fact under its auspices can and do have effects.

    Government crashed the housing market.
    Nonsense. No bank was ever forced to make loans to people who could not afford them. It is and was perfectly legal to deny a minority a loan if they failed to meet a particular lenders standards. What is and was illegal is to deny a minority a loan, and then give a non-minority a loan if both posed similar/identical credit risks to the lender.

    We refer to this as being a market failure apologist.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: N.Y. millionaire tax gets a push from poll, Occupy Wall St.

    Quote Originally Posted by Higgins86 View Post
    and warren buffet says the same about today "How many folks in that bracket are really paying 35%"
    Buffett sucks up the gullible who haven't figured out what a load of BS he spews in order to cyber slurp the democrats

    lets see

    death taxes-state and federal
    income taxes -highest bracket state and federal
    FICA (not supposed to be taxes but they are)
    state sales tax of 7%
    gasoline taxes
    property taxes
    airport taxes
    excise taxes (I spend a fair amount on shooting sports where there is an 11% excise tax)
    Hotel tax
    etc etc etc

    I am paying a ton of taxes



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    Re: N.Y. millionaire tax gets a push from poll, Occupy Wall St.

    Quote Originally Posted by Higgins86 View Post
    and warren buffet says the same about today "How many folks in that bracket are really paying 35%"
    The total effective tax rate for the top 1% is 29.5% in 2007.
    Taxes go progressively lower for each bracket, as it goes down.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

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    Re: N.Y. millionaire tax gets a push from poll, Occupy Wall St.

    Quote Originally Posted by Harry Guerrilla View Post
    I run my house finances just like a business.
    Cut costs, increase revenues, invest in income producing assets, keep some amount of liquidity and credit to float for unforeseen events(both good and bad).
    and others think we should be taxed more for investing wisely and saving



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    Re: N.Y. millionaire tax gets a push from poll, Occupy Wall St.

    Quote Originally Posted by TurtleDude View Post
    and others think we should be taxed more for investing wisely and saving
    They think you should be taxed more.
    I'm technically poor.
    Last edited by Harry Guerrilla; 10-18-11 at 12:24 AM.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

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    Re: N.Y. millionaire tax gets a push from poll, Occupy Wall St.

    Quote Originally Posted by Harry Guerrilla View Post
    The total effective tax rate for the top 1% is 29.5% in 2007.
    Taxes go progressively lower for each bracket, as it goes down.
    IMO, the problem is that the total effective tax rate for the top .001% is still 29.5% in 2007. Not very progressive is you ask me.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  10. #100
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    Re: N.Y. millionaire tax gets a push from poll, Occupy Wall St.

    Quote Originally Posted by TurtleDude View Post
    what years were those

    the ones where America was the ONLY remaining superpower economically after the factories of Japan, Germany, France and England were bombed flat

    btw that was the era of Jim Crow, no civil rights etc. Cause and effect tend to bitch slap such claims

    America was rapidly becoming the world superpower before we had the new deal and confiscatory income tax rates as well

    How the hell did America go from being a new kid on the bloc to the big dog without socialist income redistribution?

    gee FREEDOM must have worked and we didn't need 50% taxes on the most productive people as we have now

    went from being the new kid on the bloc to the big dog by selling bombs etc to the allies at a very high interest...End of the day history tells you one thing if the guy at the bottom is doing well then the guy at the top is doing even better. It is in the rich's interest to invest in america rather than avoiding income tax by paying foreign taxes or donating to charity.
    According to a recently released IRS report, almost 1,500 of America's 230,000 millionaires avoided paying any federal income tax in 2009.

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