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Thread: America: Love it or (if you're rich enough) leave it?

  1. #11
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    Re: America: Love it or (if you're rich enough) leave it?

    Quote Originally Posted by Simon W. Moon View Post
    I was under the impression that these increases were voted on prior to Obama Administration because the politicians wanted to give a tax break but were not willing to come up with corresponding spending cuts. Because they wouldn't come up with spending cuts, the law would only let them pass temporary tax breaks.
    Not a point of debate, but merely of curiosity...
    When did these become Obama's tax increases?
    Exactly!

    The dems should stop talking about extending tax cuts and let the act expire, just like it was written by the cons to do. Forget about it. Stop talking about it. Let it die.

    Rather, introduce a bill that would cut the tax rate from whatever the rate will revert back to, to the current - or lower - rate on all incomes lower than $250,000. Call it the Obama tax cut.

    Let the obstructionist party vote against that.
    “We just simply don’t know how to govern” - Rep. Steve Womack (R-AR) a member of the House Budget Committee

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    Re: America: Love it or (if you're rich enough) leave it?

    Quote Originally Posted by BWG View Post
    Exactly!
    I was not trying to make a case pro or con. I am just asking when the single piece of legislation acquired it's new name. The legislation's older name is the Bush Tax Cuts. At some point it began to also be known as Obama's Tax increases.
    I may be wrong.

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    Re: America: Love it or (if you're rich enough) leave it?

    Im finding little sympathy for the top tax bracket.
    I'm Done

    See my last post

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    Re: America: Love it or (if you're rich enough) leave it?

    Quote Originally Posted by Scarecrow Akhbar View Post
    Well, jump right in with the first ignorant response.

    "FYI, Russia wants just 13% of your income if you become a resident. Bulgaria will take a mere 10%. Canada's highest federal tax rate is 29%, but provincial taxes can push the top marginal rate to 48.25%."

    Says so.

    Right there in the link you didn't bother to read.
    Yeah. Russia. Where all the businessmen used to be mobsters and pay off the government to look the other way. Like I said, the money you'd be saving in not paying taxes you would have to pay for in private security and kidnapping insurance.

    Get real.

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    Re: America: Love it or (if you're rich enough) leave it?

    Quote Originally Posted by BWG View Post
    Exactly!

    The dems should stop talking about extending tax cuts and let the act expire, just like it was written by the cons to do. Forget about it. Stop talking about it. Let it die.

    Rather, introduce a bill that would cut the tax rate from whatever the rate will revert back to, to the current - or lower - rate on all incomes lower than $250,000. Call it the Obama tax cut.

    Let the obstructionist party vote against that.
    Actually, I don't want it to revert to all incomes over $250,000. I think those making $250,000-$1,000,000 should get a tax cut, but at a reduced rate that they have now. Those making over $1,000,000 should have the tax cut totally expire though.

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    Re: America: Love it or (if you're rich enough) leave it?

    Quote Originally Posted by samsmart View Post
    Actually, I don't want it to revert to all incomes over $250,000. I think those making $250,000-$1,000,000 should get a tax cut
    Why? Cos they're having it so hard? What rationale could you use, when people on the lowest income, or no income at all are shouldering the burden, would you be giving extra breaks to the wealthy?
    "The crisis will end when fear changes sides" - Pablo Iglesias Turrión

    "Austerity is used as a cover to reconfigure society and increase inequality and injustice." - Jeremy Corbyn

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    Re: America: Love it or (if you're rich enough) leave it?

    Quote Originally Posted by Andalublue View Post
    Why? Cos they're having it so hard? What rationale could you use, when people on the lowest income, or no income at all are shouldering the burden, would you be giving extra breaks to the wealthy?
    Because it's those people that provide jobs through small business.

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    Re: America: Love it or (if you're rich enough) leave it?

    Quote Originally Posted by samsmart View Post
    Because it's those people that provide jobs through small business.
    This particular argument seems to come up short. It seems to me, that the 97% of small businesses who do not belong to that income bracket would have a relatively larger impact on creating jobs than the 2-3% which do belong to that income bracket. Because of this, the creation of jobs thing kind seems like a put on.
    Additionally, it doesn't really seem that extending the temporary tax break for this income bracket yet again will break the nation either.
    I may be wrong.

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    Re: America: Love it or (if you're rich enough) leave it?

    People who earn more than 98% of the population complain about paying more taxes than 98% of the population...
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
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    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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    Re: America: Love it or (if you're rich enough) leave it?

    I don't think high income earners are likely to leave. Their businesses are tied to the U.S. so they need to be there.

    Other than that, it's no laughing matter to abandon your native culture for good. Even if you have luxury overseas, you still face culture shock and integration issues. It can be a lonely experience and money can't solve it. Most of the very wealthy people in America have families and estates that have been there for generations. Turning your back on that isn't such a snappy decision.

    The rich will survive. Besides, there are plenty of loopholes in the tax code that they can use to recover a lot of the money, especially if they have a business. They know how to work the system better than the other financial strata, because it was they who made the tax code.

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