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Customer Discussions > Politics forum

Is it really the end of the world if millionaires pay 39% instead of 35%?


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Showing 1-25 of 220 posts in this discussion
Initial post: Nov 9, 2012, 10:57:03 AM PST
Fred says:
That's the sticking point. Is that really worth all this hassle? Why can't the GOP give up on this?

Posted on Nov 9, 2012, 11:00:27 AM PST
Brian Curtis says:
Why would the party of billionaires make a big deal out of betraying their primary masters--errr, 'contributors'? To ask the question is to know the answer.

Posted on Nov 9, 2012, 11:11:57 AM PST
Last edited by the author on Nov 9, 2012, 11:12:36 AM PST
freedom4all says:
[Customers don't think this post adds to the discussion. Show post anyway. Show all unhelpful posts.]

In reply to an earlier post on Nov 9, 2012, 11:14:59 AM PST
Fred says:
You're making an assumption... a slippery slope argument.

I'm talking about what is actually on the table.

In reply to an earlier post on Nov 9, 2012, 11:16:14 AM PST
A Purchaser says:
f4u, we get it: you think the government is the source of all evil and we mustn't tax our Galtian overlords because it will hurt their oh-so-delicate feelings.

Seriously, don't you ever get tired of pimping for plutocrats?

In reply to an earlier post on Nov 9, 2012, 11:22:25 AM PST
Fred says:
He's kinda "right" but he doesn't really understand why.

No. Taxing the rich, in and of itself, will not balance the budget. That much the dittoheads understand. What they don't get is that is like a BILLION per year we don't have to cut from everything else. You can buy a lot of school lunches and fund a lot of Pell grants with a billion per year.

The point is not that raising taxes on rich people will balance the budget. It's that doing so will make the cuts less painful to the average American and the economy as a whole.

In reply to an earlier post on Nov 9, 2012, 11:23:48 AM PST
Last edited by the author on Nov 9, 2012, 11:24:00 AM PST
Ice King says:
Judging by the way they've been acting about it (and getting their mindless followers to believe) it would apparently be worse than all the wars in the world combined.
If those kind hearted "job creators" have to pay 4% more in taxes they'll have no choice but to run away from the economy screaming.

The answer is obviously to let them pay no taxes and cut all social programs.

In reply to an earlier post on Nov 9, 2012, 11:26:48 AM PST
Fred,

Do you really think that most of their income is "earned income"?

But to answer your question, the GOP thinks that all of these millionaires are creating jobs, or at least employing people in this country and any increase in their taxes may affect either the number of jobs or the cost of their products.

BTW, when did $250,000/yr become a millionaire? If you are talking accumulated, assets that are invested and they are actually spending less than they make, then you aren't talking about 35% anyway!

There are more than a few young, married professionals that each have salaries over $100,000, and are not making ends meet for whatever reason, like living in an expensive area. If we suddenly have inflation, this doesn't appear to be a sliding scale. And the AMT is already set so that it doesn't increase with inflation. All in all, if you argue that there are only a few of these couples then you are also arguing that there are not enough to worry about then you are also saying that there isn't enough money here to worry about!

Posted on Nov 9, 2012, 11:28:17 AM PST
Tony Bruno says:
They can always pay their illegal hispanic housekeeper a little less to make up for it.

In reply to an earlier post on Nov 9, 2012, 11:32:30 AM PST
Tony,

So now you are advocating breaking the labor laws to pay for a national debt? LOL

Seriously, perhaps they could pay them a bit more and have a similar affect!

BTW, why do all hispanic housekeepers have to be illegal, in your mind?

In reply to an earlier post on Nov 9, 2012, 11:35:06 AM PST
Last edited by the author on Nov 9, 2012, 11:36:11 AM PST
Fred says:
BTW, when did $250,000/yr become a millionaire?
=============

After four or five years, six tops :)

We are only talking about taxable income here. You sound like you have some idea what you are talking about so you know what a tax return is. If your income is in the market and you aren't realizing any of it then it's not taxable is it? Even if you do then it's under capital gains rules.

Posted on Nov 9, 2012, 11:36:13 AM PST
The rich would have to put off that vacay to Thailand they were planning for a few years...can't have that.

In reply to an earlier post on Nov 9, 2012, 11:42:37 AM PST
Fred,
After four or five years, six tops :)
-------------------------
You can't be serious. Many have other expenses, although I'll grant you some of those are payments on expensive cars (sometimes).

My point was that the issue with Romney was over his low income taxes, which everyone seemed to ignore were at the capital gains rate. (They also ignored the difference between effective rate and tax bracket.) Raising the earned income rate doesn't change what he pays in taxes. Both earned income and capital gains are taxable income, just not at the same rate.

In reply to an earlier post on Nov 9, 2012, 11:42:43 AM PST
Tony Bruno says:
Reed, look at how many political careers illegal housekeepers have ruined. Even Romney admitted his gardener was illegal. Come join the real world.

In reply to an earlier post on Nov 9, 2012, 11:44:22 AM PST
Boom Boom,

It isn't all that expensive, relatively, to go to Thailand. Surely, you are looking to collect more in taxes than what a single overseas trip might cost!

In reply to an earlier post on Nov 9, 2012, 11:44:36 AM PST
Fred says:
Or maybe they have to "summer" in Florida instead of Malibu?

In reply to an earlier post on Nov 9, 2012, 11:44:53 AM PST
A customer says:
Let'em all expire !!

Cut defense by 1 trillion dollars ... then pay off the national debt & balance the budget.

Austerity coming to you, soon.

In reply to an earlier post on Nov 9, 2012, 11:47:16 AM PST
Fred says:
Then what are you worried about? What exactly is your objection to raising the rates on the top bracket?

In reply to an earlier post on Nov 9, 2012, 11:47:51 AM PST
Just ask the Donald. He won't give up one red cent. I think he ought to just leave the country and take his stupid show with him.

In reply to an earlier post on Nov 9, 2012, 11:50:18 AM PST
"That's the sticking point. Is that really worth all this hassle? Why can't the GOP give up on this? "

Not only will it not help things it will make matters worse for the economy. That will slow down the recovery, and increase unemployment. Next...

In reply to an earlier post on Nov 9, 2012, 11:52:02 AM PST
"Why would the party of billionaires "

There are more billionaires that align themselves with the Democrat Party than the Republican so I presume you're talking about the Democrats in your post.

In reply to an earlier post on Nov 9, 2012, 11:52:16 AM PST
JKW Retired says:
4?

In reply to an earlier post on Nov 9, 2012, 11:52:53 AM PST
Most economists say letting the Bush tax cuts expire for the top 1% won't. Letting them expire for everyone, a la fiscal cliff, however, would.

In reply to an earlier post on Nov 9, 2012, 11:53:46 AM PST
Fred,

My point was that it wouldn't necessarily be raised on millionaires, it would however "catch" young professionals that most would consider upper middle class. If you want to "catch" millionaires you need to change what affects them, earned income rates aren't likely to be worth effort.

FWIW, I thought the original lowering was a bit short sighted, when we had a debt that needed paying down. But, as I recall, growth was going to make up for all of that I was worrying about and I needn't worry myself about what all those highly paid economist said, I clearly didn't understand!!!

In reply to an earlier post on Nov 9, 2012, 11:55:13 AM PST
Fred says:
Says who?
Republicans?

Do you want the short list of things Republicans predicted incorrectly in the last two decades?
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This discussion

Discussion in:  Politics forum
Participants:  33
Total posts:  220
Initial post:  Nov 9, 2012
Latest post:  Nov 12, 2012

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