DNC Convention and "investment"

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Originally Posted by foxtrot

I'm sorry, I'm going to have to object as to hearsay. Your opinion holds no factual weight. Last I checked, most people are spending shit purchasing shit from walmart whose corporate center is not local, and whose product is foreign.
Yea. Great economy booster. Just like all those stiumulus "I'll give you free money to buy a Chinese TV" programs. Do you believe your own bullshit?

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Thank you for your courteous reply. Since you're so data driven, please provide a cite that shows that over 50% of the income of any particular income bracket is spent at Wal-Mart. You seem to be neglecting rent, utilities, transportation and other expenses that are typically paid locally. Even Walmart spending generates sales tax revenue, and the money paid to Walmart pays the wages of their employees, whom I surmise, live locally and also spend locally.

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Again, going to object as to hearsay. You seem to be potentially intelligent, but unfortunately your logic complex seems to be shorting out in your cerebrum, and I'm going to object to your argument on relevance.

Tax brackets have little to do with who does, and who does not pay taxes. The fact of the matter is, virtually half of people do not pay taxes (remember, EIC credits, credits for having six anchor babies, etc. etc.).

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Tax brackets have all of the significance in who pays taxes. You'll note that your "taxable income", which takes into account all of your credits above, and more, determines which bracket/rate you fall into.

http://www.irs.gov/pub/irs-pdf/i1040tt.pdf

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Many of these people are "middle class".The accounting industry is entirely built around dodging taxes. Please provide your degree in accounting before spewing groundless opinion based rhetoric at fast. Otherwise, your opinions are wholly unqualified and are stricken.

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I do have a double emphasis in Accounting and Operations Management MBA, and have the necessary education to be a CPA in Washington State, where I attended graduate school. Stop by for a beer and I'll show you the diploma and leftover textbooks. The tax accounting industry is built around avoiding taxes, which is perfectly legitimate. That's one reason many of us own a home instead of renting, to take advantage of the mortgage tax avoidance rules.

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The point is - do you honestly think the vast majority of people, if given the option of early retirement or the option of paying 45-55% in taxes (scaling even more with more income) are going to chose the "slave" option? Your argument is... tax brackets.

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Are you saying that you wouldn't want to be in the next higher tax bracket, even if your income tax rate was higher? If so, I think you and I use different math.

Anyone that makes enough money to be affected by the very highest of tax brackets can't really be considered a slave, as that's a taxable income of around $383k. I don't know any of those people, and what motivates them. I do know that HP's previous CEO Mark Hurd received enough money in his tenure for any, heck, quite a few, of us to retire and live quite well. He still goes to work every day.

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Right. [Coffee] Those people are TOTALLY wanting to slave away for $9 an hour and if given the option, most WOULDNT take a government check for $10 an hour tax free instead. Makes total sense.

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I agree, it makes no sense to work in those circumstances. Yet people still do. I wonder why? Given these circumstances, how do we provide a way to make a living for these folks?

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Originally Posted by Rucker61

I hardly think that 15% is more than anyone's fair share. You do realize that much of the income of the very rich falls into capital gains and not ordinary income, right? If I can pay 28%, why can't they?

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A much better question is: If they can use their OWN money, to make money, and only be taxed at 15%, why can't you?

I asked myself that very question, and it has set me on a quest. Being poor sucks, so don't do it.

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Originally Posted by Irving

A much better question is: If they can use their OWN money, to make money, and only be taxed at 15%, why can't you?

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It's the old saw, it takes money to make money. I've no objection to folks making money by hard work or their own investments. I have no respect for inherited money or Wall Street investment bankers who bet against their own advice. TANJ.

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I asked myself that very question, and it has set me on a quest. Being poor sucks, so don't do it.

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You damn betcha. When I was a kid, my family was one of those that didn't owe any income tax. Thank heaven for the socialized medicine, free housing, and subsidized food and consumer goods provided by the US Air Force and AAFES. Being poor sucked. Being upper middle class is much nicer.

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Originally Posted by Rucker61

It's the old saw, it takes money to make money. I've no objection to folks making money by hard work or their own investments. I have no respect for inherited money or Wall Street investment bankers who bet against their own advice. TANJ.

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1) Does it take YOUR money to make money?
2) Why does the money have to be earned through hard work?
3) Wall street selling toxic assets as good buys? I agree. Someone inherited some money? Why should I have an opinion on that either way? If you had significant money left after you die, would you NOT give it to your children?

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Originally Posted by Rucker61

Being poor sucked. Being upper middle class is much nicer.

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Why stop at upper middle class?

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Originally Posted by Rucker61 http://www.ar-15.co/forums/images/buttons/viewpost.gif
I hardly think that 15% is more than anyone's fair share. You do realize that much of the income of the very rich falls into capital gains and not ordinary income, right? If I can pay 28%, why can't they?

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You're not the jealous, envious sort at all are you. /sarc

These 'rich' people take a capital risk investing in the products and services that we need and use. Then someone like you comes along and purely out of spite for their success you want to punish them for their efforts so you can get your revenge.

No wonder I utterly despise people like you.

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Originally Posted by Rucker61

It's the old saw, it takes money to make money. I've no objection to folks making money by hard work or their own investments. I have no respect for inherited money or Wall Street investment bankers who bet against their own advice. TANJ.

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What's TANJ?

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Originally Posted by roberth

You're not the jealous, envious sort at all are you. /sarc

These 'rich' people take a capital risk investing in the products and services that we need and use. Then someone like you comes along and purely out of spite for their success you want to punish them for their efforts so you can get your revenge.

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You realize that not all folks who make an income that falls under the 15% capital gains? I well understand investment and risk; Wall Street bankers who bet against their own advice, who pretended their was no risk to the investments they sold and bet against, did not risk their own money. CEOs don't risk their own money, yet their payment packages are set up to be taxed as capital gains, even if they fail as a CEO. You like that setup? I understand the need for corporations, and the pooling of capital. It's a good thing. It's the abuse of the system that bothers me.

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No wonder I utterly despise people like you.

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That's okay. I pity people like you.

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Originally Posted by Sharpienads

What's TANJ?

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From Larry Niven's Known Space setting: There Ain't No Justice. A common mild expletive in his books.

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Originally Posted by Rucker61

I hardly think that 15% is more than anyone's fair share. If I can pay 28%, why can't they

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This is an odd statement from someone who thinks it's fair that 47% of people are not paying any income tax.