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

Goldenboy219 said:
Follow your own advice; we are not currently in a recession (there was 100k+ job growth for christ sakes!). Where did you get this $35 billion figure?
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$35B is the cost of the new Obama slush fund bill, since Senate Democrats killed the larger bill.
 
Goldenboy219 said:
I agree to a point. Accounting costs tied to lowering a tax burden is only a portion of total accounting costs. Accounting for managerial and credit/investment purposes will still exists in the absence of a capital gains tax. We would still be facing short-termism as corporations would rush to pay dividends to shareholders (ala 2003). Then we would have to worry about the possibility of a tax retaliation from nations who lose corporations to our lower rates, which makes me nervous.
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It could be done as a medium term plan, not to effect other nations in one swoop.

Goldenboy219 said:
It would be an interesting idea if a sort of income threshold to capital gains was included, e.g. no capital gains tax on LTCG for people earning under $75k/year.
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That's more or less the idea.
Although some basic parameters would have to be set, like no matching fund withdrawals for a period of 5 years or something similar.
I think allowing dividends to be used as income would be fine though.

Hopefully, it would encourage more people to be less hostile towards the investor class, as they would be a part of it.
 
Goldenboy219 said:
I agree to a point. Accounting costs tied to lowering a tax burden is only a portion of total accounting costs. Accounting for managerial and credit/investment purposes will still exists in the absence of a capital gains tax. We would still be facing short-termism as corporations would rush to pay dividends to shareholders (ala 2003). Then we would have to worry about the possibility of a tax retaliation from nations who lose corporations to our lower rates, which makes me nervous.




It would be an interesting idea if a sort of income threshold to capital gains was included, e.g. no capital gains tax on LTCG for people earning under $75k/year.
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Silliness. There is not enough LTCG occuring at that income level to make it worth government's while. Most people in that income bracket have yet to make back their losses from the last crash.
 
Reg said:
$35B is the cost of the new Obama slush fund bill, since Senate Democrats killed the larger bill.
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Way to come out of left field.

BTW, you failed to prove we are currently in a recession. Care to admit your error?
 
Goldenboy219 said:
Way to come out of left field.

BTW, you failed to prove we are currently in a recession. Care to admit your error?
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Read the news. Economists believe we are in one or headed back into one.

These massive spending/deficits are a failure.
 
lpast said:
Did someone say the rallies arent making a difference ?


The push for a higher tax on New Yorkers making more than $1 million a year is getting fresh life with a new poll showing overwhelming support, a high-profile rally on Monday and the strengthening Occupy Wall Street protest in New York City

The Siena College poll found 72% of New York voters support the tax to avoid further budget cuts. Just 26% oppose the proposal by powerful Assembly Speaker Sheldon Silver.


N.Y. millionaire tax gets a push from poll, Occupy Wall St.
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People supporting tax increases they do not have to pay. Who would have thought.
 
Higgins86 said:
nope im comparing a scene from a book to todays climate!
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If you mean how the governemnt is working it's ass off to confiscate private wealth, then you're right on time.
 
SheWolf said:
The rich people that didn't bailed out are struggling now and not as wealthy. The one's at the top with the most money, the one's that can't fail because they are too big and important, are now contributing about as much as a meth head on welfare and they are at the top.
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Since they aren't spending money at the rate you think they should, you want the government to take it from them and piss it away for them?
 
Goldenboy219 said:
Way to come out of left field.

BTW, you failed to prove we are currently in a recession. Care to admit your error?
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If we're not in a recession, why do Libbos constantly go on and on about how were in a crisis and we need to tax rich people to get out of it?
 
TurtleDude said:
that is typical of the parasite mentality. everyone wants SOMEONE ELSE to pick up the tab for them. Of course the way the fat man rocks in NJ if those parasites aren't careful lots of those millionaires will move to NJ and that means the teat suckers are going to have less and less.

if someone is not willing to pay the same rates as the rich, they have absolutely no credibility to demand others pay a higher rate
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Turtle do you realize that rhetoric like you use daily here and the same rhetoric thats been coming from the Teaparty in general since Nov is what has fueled these Protests...Did you and the teaparty politicians believe that people that got up everyday all their lives and went to work and made just about enough to keep from going under water was going to just bend over forever so the few that just happen to be in the right position could milk them till their veins are dry.
Keep talking your the democrats best friend....
 
conservativeguy said:
Classic liberalism.....shoot the Golden Goose and whine about the lack of Golden Eggs. Go ahead NY, create a huge incentive to get successful people to live and do business in another state. Brilliant.
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Start paying attention no. one is listening to that trash rhetoric anymore...no ones listening to the incessant woe is me class warfare used by the rich and the teaparty far right republicans anymore either.
There are many people finally starting to come out and acknowledging the truth...people that are in the 25% and up bracket....your whining is pathetic while 30% of this country is unemployed and underemployed and millions of MIDDLECLASS have lost or losing their homes and everthing theyve worked for their entire lives...while the rich corporations get subsidies like big oil...and SUGAR INDUSTRY...here want to read something that will make you happy...read this article about every american getting screwed for decades so some can get rich. This is a bipartisan shafting of every american.

U.S. sugar policy is rigged in favor of a handful of large sugar producers — at the expense of everyone else. This is costing consumers and sugar-using businesses $4 billion a year, according to a study due to be released Wednesday.
The program also includes a bizarre system of market controls that dictate to the nation’s established sugar producers how much each company is allowed to sell. No producer can exceed its allotment — and no new player is allowed to enter the market.

Totally stifles competition and costs americans billions...this doesnt include Big Oil Subsidies...Ridiculous Ethanol ...and the myriad of other ways americans that work for a living get the shaft to the benefit of the rich and corporations...while they repay us by sending jobs overseas so they can grab even moAR.


Opinion: Sugar policy bitter for consumers, manufacturers - Sen. Mark Kirk and Sen. Jeanne Shaheen - POLITICO.com
 
TurtleDude said:
that is typical of the parasite mentality. everyone wants SOMEONE ELSE to pick up the tab for them. Of course the way the fat man rocks in NJ if those parasites aren't careful lots of those millionaires will move to NJ and that means the teat suckers are going to have less and less.

if someone is not willing to pay the same rates as the rich, they have absolutely no credibility to demand others pay a higher rate
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they have no credibility? how much taxes did GE pay last year? none. why should i pay 35% of my income to taxes while the filthy rich virtually pay none? where's the logic in that. of course i demand a higher rate that the rich should be taxed. it's not all about budget cuts.
 
Harry Guerrilla said:
What he's really getting at is that, it's very likely right now, that all the Turtle Dudes in the U.S. are paying more, in a percentage of taxes, than all the Buffets and Gates.
Now personally, I'm all for low tax rates, but the top end rich paying less than, the mid to low end rich, is not fair.
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it is fair if they are paying less because they only have investment income which is taxed less. they pay as much or more on investment income as anyone else and as much or more percentage rates on salary income. what makes their tax rate (total effective rate) lower than some who have high salaries and low investment income is that difference in types of income. That is fair to me because all of us have lower rates on long term investment income or dividends. raising rates for like incomes based on your percentage of different sources of income or how much or how little you make on other incomes is idiotic.

For example say I make 20Million in Investments and have a 20 million salary. I pay 15% on the former and a 35% marginal rate (an effective rate of near 35% due to the numbers) on salary. My overall effective rate is going to be over 24%-more than just about any middle class or even upper middle class guy but less than say ball player who only has a 20 million dollar salary but I pay a higher effective COMBINED RATE THAN say a Joe Smith who makes 20Million in investments and has no salary. Why should he pay more than 15% on his 20 million? but that is what you are arguing for.

Fairness is that each one of us who has 20 million in investments pays 15% on that and each one of us who has 20 Million in salary pays 35% (I believe progressive rates are unfair but I am setting that aside her)
 
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lpast said:
Did someone say the rallies arent making a difference ?


The push for a higher tax on New Yorkers making more than $1 million a year is getting fresh life with a new poll showing overwhelming support, a high-profile rally on Monday and the strengthening Occupy Wall Street protest in New York City

The Siena College poll found 72% of New York voters support the tax to avoid further budget cuts. Just 26% oppose the proposal by powerful Assembly Speaker Sheldon Silver.


N.Y. millionaire tax gets a push from poll, Occupy Wall St.
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No one can tell me, yet, what 'change' that will actually bring to any one city, state - or the nation as a whole.

*more taxes more taxes more taxes* - but what is the government doing with it all? . . . Nothing worth talking about.
 
Modus said:
they have no credibility? how much taxes did GE pay last year? none. why should i pay 35% of my income to taxes while the filthy rich virtually pay none? where's the logic in that. of course i demand a higher rate that the rich should be taxed. it's not all about budget cuts.
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filthy rich is a term that the envious use.

You are confused as usual. The 'filthy rich" pay 35% on salary and 15% on investment income

You pay 35% on salary and 15% on investment income. You are demanding different rates based on PROPORTIONS OF INCOME SOURCES which is MORONIC
 
TurtleDude said:
filthy rich is a term that the envious use.

You are confused as usual. The 'filthy rich" pay 35% on salary and 15% on investment income

You pay 35% on salary and 15% on investment income. You are demanding different rates based on PROPORTIONS OF INCOME SOURCES which is MORONIC
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I agree filthy rich is a term that shouldnt be used.....but NO one pays 35% that is bogus turtle and you know that...after deductions its far less.
Unless of course Herman Cain gets elected and the teaparty has the house and senate majorities...then the top will pay far less and corporations too and using YOUR figures that you have spewed many times...that 50% of the country pays no taxs...under cain those 50% will pay 9% plus an additonal 9% sales tax and another 25% will pay more than they are now....lol....herman cain winning the gop primary will be the greatest gift you could give to obama...he will tear herman arse to shreds on the 999....
 
lpast said:
I agree filthy rich is a term that shouldnt be used.....but NO one pays 35% that is bogus turtle and you know that...after deductions its far less.
Unless of course Herman Cain gets elected and the teaparty has the house and senate majorities...then the top will pay far less and corporations too and using YOUR figures that you have spewed many times...that 50% of the country pays no taxs...under cain those 50% will pay 9% plus an additonal 9% sales tax and another 25% will pay more than they are now....lol....herman cain winning the gop primary will be the greatest gift you could give to obama...he will tear herman arse to shreds on the 999....
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last post for 10 hours but the fact is-if you have a high salary you approach 35%

the main issue is your tax rate on ONE TYPE OF INCOME really shouldn't be changed because you have more or less in other types of income. And this thread is not about Cain's proposal but the seething dishonesty of those who claim its unfair that a guy will nothing but investment income pays less than someguy with lots of salary income.
 
Aren't the top 1% paying 40% of our taxes? Aren't the top 50% paying 100% of our taxes? And you want more from them? How about a share in the burden? I know you will be against it, but until everyone pays taxes, it is completely unfair to have everyone vote on tax reform or for parties/people who will change the tax rates. If I don't pay taxes, and my options are that someone I consider in a better financial place than myself pay more taxes or I start paying taxes, of course I am going to vote for the other guy to pay taxes. We all have equal votes in this county, why don't all get involved and get a share (I am not saying equal, but a share) of the burden that those votes cost.
 
lpast said:
Start paying attention no. one is listening to that trash rhetoric anymore...no ones listening to the incessant woe is me class warfare used by the rich and the teaparty far right republicans anymore either.
There are many people finally starting to come out and acknowledging the truth...people that are in the 25% and up bracket....your whining is pathetic while 30% of this country is unemployed and underemployed and millions of MIDDLECLASS have lost or losing their homes and everthing theyve worked for their entire lives...while the rich corporations get subsidies like big oil...and SUGAR INDUSTRY...here want to read something that will make you happy...read this article about every american getting screwed for decades so some can get rich. This is a bipartisan shafting of every american.

U.S. sugar policy is rigged in favor of a handful of large sugar producers — at the expense of everyone else. This is costing consumers and sugar-using businesses $4 billion a year, according to a study due to be released Wednesday.
The program also includes a bizarre system of market controls that dictate to the nation’s established sugar producers how much each company is allowed to sell. No producer can exceed its allotment — and no new player is allowed to enter the market.

Totally stifles competition and costs americans billions...this doesnt include Big Oil Subsidies...Ridiculous Ethanol ...and the myriad of other ways americans that work for a living get the shaft to the benefit of the rich and corporations...while they repay us by sending jobs overseas so they can grab even moAR.


Opinion: Sugar policy bitter for consumers, manufacturers - Sen. Mark Kirk and Sen. Jeanne Shaheen - POLITICO.com
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LMAO....I wasn't whining since I do not and never will live in NY. I say "go for it NY, tax the crap out of the people that pay the bills for all the welfare beggars and income redistributionists. Let us know how well that works out for you." :lamo
 
TurtleDude said:
last post for 10 hours but the fact is-if you have a high salary you approach 35%

the main issue is your tax rate on ONE TYPE OF INCOME really shouldn't be changed because you have more or less in other types of income. And this thread is not about Cain's proposal but the seething dishonesty of those who claim its unfair that a guy will nothing but investment income pays less than someguy with lots of salary income.
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Herman Cain cannot win the presidency...hes only popular with the far right and rich because every other of their favorites died a sudden death....Cain will not beat obama...his 999 seals his fate
 
conservativeguy said:
LMAO....I wasn't whining since I do not and never will live in NY. I say "go for it NY, tax the c
rap out of the people that pay the bills for all the welfare beggars and income redistributionists. Let us know how well that works out for you." :lamo
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Before this is over you and I will both be paying more taxs...I can afford it...wont change my lifestyle 1 iota...but making someone earning 35000 with 2 kids pay 9% income tax and pay an addtional 9% sales tax is an unreal burden...while of course the big guys get ANOTHER HUGE tax break...lol...cain is the best thing that could happen to obama
 
lpast said:
Before this is over you and I will both be paying more taxs...I can afford it...wont change my lifestyle 1 iota...but making someone earning 35000 with 2 kids pay 9% income tax and pay an addtional 9% sales tax is an unreal burden...while of course the big guys get ANOTHER HUGE tax break...lol...cain is the best thing that could happen to obama
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There are 13 debates scheduled before the Republican primary. Cain will not be elected. I wouldn't bother/worry about the 999 plan. It is DOA.
 
Blue_State said:
There are 13 debates scheduled before the Republican primary. Cain will not be elected. I wouldn't bother/worry about the 999 plan. It is DOA.
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I agree with that....but theres democrats foaming at the mouth for Cain to win...I believe the only one that can beat Obama is Romney....all this ooohhrahhh about the gop candidates is strictly for 50% or less of GOP voters...which represent a very small piece of the population
 
lpast said:
I agree with that....but theres democrats foaming at the mouth for Cain to win...I believe the only one that can beat Obama is Romney....all this ooohhrahhh about the gop candidates is strictly for 50% or less of GOP voters...which represent a very small piece of the population
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I feel the next election will have less to do with the quality of the opponent and more to do with the state of the country.

In my opinion, Obama will release oil reserves, release more money from the fed, promote the expansion of welfare programs in the next 12 months in order to gain popular press and a optimistic country view for reelection.
 
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