Page 19 of 20 FirstFirst ... 917181920 LastLast
Results 181 to 190 of 198

Thread: Would the rich miss 5%?

  1. #181
    Equal Opportunity Hater
    obvious Child's Avatar
    Join Date
    Apr 2008
    Location
    0.0, -2.3 on the Political Compass
    Last Seen
    12-09-14 @ 11:36 PM
    Lean
    Other
    Posts
    19,883

    Re: Would the rich miss 5%?

    Quote Originally Posted by Dav View Post
    Buffet is a rare case because he didn't make his money on any kind of career, but rather through investing; thus there are a lot of loopholes in the tax code he can take advantage of.

    But most rich people aren't in that situation (especially if you define everyone in the top 1% as "rich").
    Because their tax planning sucks. There are plenty of ways to reduce a $250,000 AGI down to very low tax brackets. Takes a little more work for $1 million, and a fair amount for over $10 million. There's not much someone making $50+ million in earned income can do though legally and without extensive work. Especially since the IRS is all pissy about partnerships. That used to be a great way of tax reduction.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

  2. #182
    Sage
    Ikari's Avatar
    Join Date
    Dec 2006
    Location
    Colorado
    Last Seen
    12-08-17 @ 01:05 AM
    Gender
    Lean
    Libertarian - Left
    Posts
    54,124

    Re: Would the rich miss 5%?

    Quote Originally Posted by Dav View Post
    Buffet is a rare case because he didn't make his money on any kind of career, but rather through investing; thus there are a lot of loopholes in the tax code he can take advantage of.

    But most rich people aren't in that situation (especially if you define everyone in the top 1% as "rich").
    The top 1% pay a lower marginal tax rate than the rest of us, without even trying. The tax codes are specifically set up to avoid heavy taxes on them. The lower-upper class; those guys pay tons of tax. The top, they don't pay ****. Buffett isn't the only one in the top 1% who pays lower tax rates than everyone else; they all pay lower tax rates. And by exploiting tax loop-holes; they're probably paying less than Buffett.
    You know the time is right to take control, we gotta take offense against the status quo

    Quote Originally Posted by A. de Tocqueville
    "I should have loved freedom, I believe, at all times, but in the time in which we live I am ready to worship it."

  3. #183
    Sage
    Dav's Avatar
    Join Date
    Mar 2009
    Location
    Virginia
    Last Seen
    04-16-16 @ 02:36 AM
    Gender
    Lean
    Libertarian - Right
    Posts
    5,539

    Re: Would the rich miss 5%?

    Quote Originally Posted by Ikari View Post
    The top 1% pay a lower marginal tax rate than the rest of us, without even trying. The tax codes are specifically set up to avoid heavy taxes on them. The lower-upper class; those guys pay tons of tax. The top, they don't pay ****. Buffett isn't the only one in the top 1% who pays lower tax rates than everyone else; they all pay lower tax rates. And by exploiting tax loop-holes; they're probably paying less than Buffett.
    I'm assuming you have proof of this?


    BTW my parents are in the top 1% and do not pay a lower marginal tax rate than everyone else....

  4. #184
    Sage
    Ikari's Avatar
    Join Date
    Dec 2006
    Location
    Colorado
    Last Seen
    12-08-17 @ 01:05 AM
    Gender
    Lean
    Libertarian - Left
    Posts
    54,124

    Re: Would the rich miss 5%?

    Quote Originally Posted by Dav View Post
    I'm assuming you have proof of this?


    BTW my parents are in the top 1% and do not pay a lower marginal tax rate than everyone else....
    Buffett said it himself. There's a link in the thread. These people are the one's that make most of their money through capital gains. 17% of the people think they're in the top 1%, 18% beyond that think they'll be in the top 1%. Yet over half the people don't have enough money to live a "comfortable" life. Money always flows uphill and those at the top are also the ones setting the rules. As I said, when the uber rich start paying the same marginal tax rate; we'll talk.
    Last edited by Ikari; 11-25-09 at 05:36 PM.
    You know the time is right to take control, we gotta take offense against the status quo

    Quote Originally Posted by A. de Tocqueville
    "I should have loved freedom, I believe, at all times, but in the time in which we live I am ready to worship it."

  5. #185
    Banned
    Join Date
    Jan 2006
    Location
    United States
    Last Seen
    01-21-16 @ 12:21 PM
    Gender
    Lean
    Independent
    Posts
    51,124

    Re: Would the rich miss 5%?

    Quote Originally Posted by Ikari View Post
    HAHAHA, yeah, making the uber rich pay the same percentage as the rest of us will hurt us. They're going to take it out by making their businesses less efficient and cut into their profit margins. Besides, it's not like we can't replace them. It's America, just because someone can do a job doesn't mean that there aren't others who can't do the same job.
    The law is not targeting specific individuals.

    It is targeting any and everyone who steps into that position, to include anyone who replaces the current wealthy.

    Quote Originally Posted by Ikari View Post
    Plus, how much of my money goes to them? Just this last bailout, how much of our money was funneled to the rich. They're already hurting us.
    Uh, who's fault is that? Both Bush and Obama forced the rich to take those bailouts.

    Quote Originally Posted by Ikari View Post
    They get to act as irresponsibly as possible, take as much of our money as possible, and when they break the system the government will take our money and give it to them.
    They can't have the money if the government doesn't take it from you.

    This is why no one was supposed to vote for Obama. McCain was easier to control.

    Quote Originally Posted by Ikari View Post
    Do they even have a down side? Hurting us....HA, already being done. Being assraped without the lube by the new aristocracy. No, the rich can pay the same marginal tax rate as the rest of us.
    I wonder if you realize that forcing the rich to pay the same tax % as everyone else is to drastically reduce the tax burden they pay now.

    Increasing their taxes by 5% is the exact opposite of "the rich can pay the same marginal tax rate as the rest of us".

  6. #186
    Banned
    Join Date
    Oct 2005
    Last Seen
    03-31-11 @ 07:14 PM
    Gender
    Lean
    Moderate
    Posts
    2,331

    Re: Would the rich miss 5%?

    Quote Originally Posted by Dav View Post
    I'm assuming you have proof of this?


    BTW my parents are in the top 1% and do not pay a lower marginal tax rate than everyone else....
    So you live in a mansion?! I thought you said your dad worked for the CIA? He must be corrupt.....

  7. #187
    Sage

    Join Date
    Sep 2007
    Last Seen
    09-24-17 @ 04:38 AM
    Lean
    Undisclosed
    Posts
    29,261

    Re: Would the rich miss 5%?

    It really depends if I loose 5 %. On a 50 $ vs a 5$ stock that is a big cash difference.

  8. #188
    Sage
    Ikari's Avatar
    Join Date
    Dec 2006
    Location
    Colorado
    Last Seen
    12-08-17 @ 01:05 AM
    Gender
    Lean
    Libertarian - Left
    Posts
    54,124

    Re: Would the rich miss 5%?

    Quote Originally Posted by Jerry View Post
    I wonder if you realize that forcing the rich to pay the same tax % as everyone else is to drastically reduce the tax burden they pay now.

    Increasing their taxes by 5% is the exact opposite of "the rich can pay the same marginal tax rate as the rest of us".
    Except that the extremely rich are paying around 17% with no problem, wherein everyone else is well higher than that. So your analysis is a little off.
    You know the time is right to take control, we gotta take offense against the status quo

    Quote Originally Posted by A. de Tocqueville
    "I should have loved freedom, I believe, at all times, but in the time in which we live I am ready to worship it."

  9. #189
    User Hypostrategos's Avatar
    Join Date
    Oct 2009
    Last Seen
    12-11-09 @ 07:01 PM
    Gender
    Lean
    Conservative
    Posts
    31

    Re: Would the rich miss 5%?

    Quote Originally Posted by UtahBill View Post
    No way, only the smart can become rich, and usually at the expense of the rest of us. Most of the time, it works out for all of us, because we need some rich and well off to create the jobs.
    Wealth is not infinite, and neither are resources. Every extra dollar that gets printed makes the existing dollars worth less than before. Resources must be replaced as they are used, or eventually, we run out of them. Europeans came to the new world looking for wealth, and part of that wealth was WOOD, because they had pretty much depleted the forests of Europe.
    Hehe. Its exactly that kind of thinking, which most people think, and people like you preach to other people, that keeps so many in poverty. If people understood that material things are infinite because we can create infinite from what is apparently nothing, then we could again use that power to make everyone rich. Where do you think all that wood came from? Yes, trees that grow from sunlight and nutrients in the dirt. Where did the nutrients in the dirt come from? Matter in space, ne? Where did that matter in space come from? I would contend thought. Thought caused matter to come into existence, and because we can think, we can cause matter to come into existence, just as we can take existing matter and shape it into something we choose through physical means.

  10. #190
    Sage

    Join Date
    Dec 2005
    Location
    Goldsboro,PA
    Last Seen
    Today @ 06:48 PM
    Gender
    Lean
    Progressive
    Posts
    5,595
    Blog Entries
    1

    Re: Would the rich miss 5%?

    Quote Originally Posted by cmckinney View Post
    You want to force me to pay thousands of dollars for some other person's health-care because they didn't buy their own?
    Do you, sir, think for one minute that our working poor can pay one penny toward say $600 per month toward health care??

Page 19 of 20 FirstFirst ... 917181920 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •