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Thread: When a Million Dollars Just Won't Cut it

  1. #31
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    Re: When a Million Dollars Just Won't Cut it

    There used to be different tax brackets. The highest bracket now includes many more people than the highest one did earlier.

    The couple thousand owe their wealth to their own work. I am not advocating a flat tax. I am against, however, 90% tax rates. To say, if you earn a billion dollars, that you "owe" 900 million to the government for ****s and giggles because its your "fair share" is ridiculous.

    I never said it wasn't a problem in private jobs. I wasn't making a point by saying that I went to a private university, just that that's where my public schooling and personal experience with it ended. Universities in general give tenure based on research not length of teaching or quality of teaching.

    I don't know how you can claim that in states that just lost unions lost academic excellence. If in just a few weeks teachers started being crappy because they're not in a union anymore, screw them. They should be in it for the kids.
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    Re: When a Million Dollars Just Won't Cut it

    Quote Originally Posted by Catawba View Post
    "U.S. millionaires are reporting a sunnier outlook about the economy, although nearly half of them donít feel truly rich. Fidelity Investments released its fourth Millionaire Outlook survey this week, which studies the investing attitudes and behaviors of more than 1,000 millionaire households throughout the country.

    The survey found that four in 10, or 42% of millionaires do not actually feel wealthy. This is down four points from 2009; however, those who said they did not feel wealthy reported they needed to have at least $7.5 million in investable assets to begin feeling wealthy again.

    Those who did report feeling wealthy said they began to feel that way with $1.75 million in investable assets."


    Read more: When a Million Dollars Just Won't Cut it - FoxBusiness.com


    According to the 2010 Census, one in seven Americans were officially poor in 2009, meaning for individuals, they made less than $11,000, and a family of four, less then $22,500.

    Who's feeling sorry for the rich folk here?
    The Obama Economy--1 in 7 Americans living in Poverty--1in 10 Facing Foreclosure--1 in 8 Collecting Food Stamps--1 in 5 Unemployed/Underemployed.....

    .....Change you can believe in.
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    Re: When a Million Dollars Just Won't Cut it

    Quote Originally Posted by Catawba View Post
    And yet we keep giving the rich as much as teacher's pay in tax cuts year after year. I guess people will eventullly figure it out, or we will continue on our path to fascism.
    Your not giving the evil rich a bloody cent......they are keeping more of their own money.....at no cost to you or anyone else.
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  4. #34
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    Re: When a Million Dollars Just Won't Cut it

    Quote Originally Posted by iamitter View Post
    There used to be different tax brackets. The highest bracket now includes many more people than the highest one did earlier.
    Yes I know, here are the Top US Marginal Income Tax Rates, 1913--2003: http://www.truthandpolitics.org/top-rates.php


    The couple thousand owe their wealth to their own work.
    Everyone that works owe their wealth to their own work.

    I am not advocating a flat tax. I am against, however, 90% tax rates. To say, if you earn a billion dollars, that you "owe" 900 million to the government for ****s and giggles because its your "fair share" is ridiculous.
    Would it be fair to say that our parents and grandparents were not socialists? Look, I am not advocating a 90% tax rate, but it is important to remember that was the tax rate for 50 years of the most prosperous time in our history, and to bring into perspective the need to raise the taxes for the top income earners, without loopholes.
    We have 30 years of history to show us that we are not going to cut spending enought alone to balance our budget. So after we get finished cutting whatever they can agree on, we will still have to raise taxes a little for the wealthy, or continue to rack up more and more national debt, while the middle class disappears.

    I don't know how you can claim that in states that just lost unions lost academic excellence. If in just a few weeks teachers started being crappy because they're not in a union anymore, screw them. They should be in it for the kids.
    You don't know how dedicated teachers are to work for what they do in a non-union state. If they were not, there would be no teachers. But we are definitily no longer attracting the best and brghtest to school teaching. Would you teach when you max out at retirement at $50,000 and have to takeover your healthcare? That is what a non-union state looks like. And even more importantly, without collective bargaining teachers no longer have their best tool for bringing about the very changes that are needed in public schools.
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  5. #35
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    Re: When a Million Dollars Just Won't Cut it

    Quote Originally Posted by Catawba View Post
    Then how much does a family income of $50,000 for a family mean? That is the middle class.
    The "poverty line" is recalculated every year.

    It was discovered in research decades ago that poor people spend 1/3 their income on groceries to feed their family. If someone earned 15,000 a year that means they'd spend about 1/3 of that which is 5,000$ on food.

    So - that's what the government uses to calculate the poverty level = one year's of food for a family of four x 3 (because of the 1/3 thing). And that's why it progressive - it goes up with each extra child. And that also means it fluctuates depending on where you live - food costs more. The states generally alter that to reflect food costs in different areas. It also changes when food-costs go up, too.


    This year the federal poverty line for a family of four in the lower 48 is $22,350 (In Alaska and Hawaii it's higher)
    For a family of 6 (my family size) it's $29,990

    That means you can take that $29,990 and divide by 3 - and that gives you the average food costs for a year (if you're not a thrifty shopper) Which is just under $10,000.
    Last edited by Aunt Spiker; 03-18-11 at 05:11 AM.
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    Re: When a Million Dollars Just Won't Cut it

    If they're great teachers, pay them well. If they're not, don't. The whole system is screwed up when you can't fire a teacher and most of their money comes in at the end from a pension. This leads to unmotivated teachers, which we absolutely do not need. If someone is burned out from teaching by 45, let them quit, knowing they extracted their wages. If they have to work another 20 years, something they don't want to do, to receive their real compensation, a great pension, they're not going to be very good teachers. Our kids don't need these kinds of teachers.[/QUOTE]


    I think that the vast majority of people can agree that it should be easier to get rid of bad teachers. But whose standard do you use to determine that, especially if you tie bonuses and higher pay to those teachers who are performing well?

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    Re: When a Million Dollars Just Won't Cut it

    Quote Originally Posted by hazlnut View Post
    No links or facts to back that up?
    you are ignorant of the fact that Buffett runs B-H and takes only 100K in salary so as to not pay 35% on the several million dollar salary similarly situated executives get?



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    Re: When a Million Dollars Just Won't Cut it

    Quote Originally Posted by Catawba View Post
    Turtledude with facts???? Its why I just ignored his post. He never does. The sheer weight of his esteemed opinion he says should be enough.
    I assume those who come here actually are aware of the subject. Yet you have never disproven what I have said
    for example those who get dividend income are taxed 15% AFTER the corporate profits were often taxed as well

    and Buffett pays the highest possible rate on like income compared to anyone else

    disprove that



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    Re: When a Million Dollars Just Won't Cut it

    Quote Originally Posted by Catawba View Post
    We are going backwards to the days of a two class system, the barons and the poor. I don't see anyway to reverse the trend but to return to a progressive tax system
    All that does is make more poor people. Good plan. So why do you hate the poor again?
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    Re: When a Million Dollars Just Won't Cut it

    [QUOTE=Catawba;1059356423]
    Quote Originally Posted by iamitter View Post

    That explains why they used to have super high tax rate on the super rich, to compensate for that.




    Yes, a lower percentage of course, that is what we were discussing.



    And those couple thousand own much of the wealth in this country, why should they not be required to pay their fair share?





    I run into people like that in every profession, public and private alike. You are right that it is a problem but wrong that it just happens in public jobs, IMO.



    It didn't work out that way for states that lost their unions. The reality here is that the pay and benefits just got worse and so did the academic excellence.

    I am not seeing any evidence supporting your socialist rants here



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