reply to post by Crakeur
figures seem to vary on the net and be a bit prone to interpretation
about 1% of Americans over 1 mil a year
another 5% over 150 G
and another 10% over 100 G
All I am saying was from my own perspective as a voter and a guy who is struggling in the direction Upwards from the 10% number atm
and YES (everyone is not me)
But Obamas tax plan frightens me only from a perspective of, loss of income heading to 250,000 and maybe fore 100 g or so above that
While of course, I can see someone, at 500,000 not wanting to loose an extra 10%...
I don't see it having nearly as much meaning in terms of not having any money to invest forward and certainly less and less above that amount as it
does at 250,000 after you deduct your expenses
what I am saying is... if a nice life, a very decent home, your basic luxuries, going out, having nice dinners a somewhat showy vehicle, nice clothes
all the insurance and kids, yadda yadaa.... cost 100-150,000 for, a very nice life style or even a bit more...
and the tax comes in trumping you up at 250 G a year, your not left with investment money
and as I see it...
There is a sweet spot where, lifestyle unless your genuinely in excess ... is handled and what you have above that is money that makes you money
I think once you are at that point (and that number varies by opinion of what exactly a nice life is and costs) but from that point your... a person
whos money is making you money
and for ME
I feel threatened by a number of 150 or even 250, being that number
I can't see caring, half as much or even at all if I was already at 1 Million plus a year
500 G or 400 G left over after taxes, for me, is plenty to know I can, make moves, open small businesses throw money at investments whatever, a
difference in doing something via the extra tax might mean waiting 6 months
certainly if, I was at 10 mil I wouldn't have much fear, being relatively fiscally conservative... of not having investment money
do some people at that level NOT want to pay it sure!
But from a place of good heart for others, your wealth I dare say is not jeopardized
But for me... if it turns out to be tax hikes at 250 and they are more than said in promises (almost certainly will be over 4 years) or it becomes 150
if Biden didn't gaffe when he said that
I might well see a reduction in life, or... not have money to invest forward without making genuine sacrifices...
But, for someone like myself who "could" be rich in the next few years and doesn't believe himself to be now... it could be difficult to bridge the
gap as a result
but I don't see, those who already have... as struggling because of it...
when I factor in everything, 250 seems very low... for people to achieve a place of wealth if being taxed as wealthy and...
we WANT people to not just get help...but be able to achieve wealth, it makes jobs, it's money spent and invested, it's not a negative that people
get rich in America
I see his numbers as too low in making that happen
In essence I don't disagree with Obama on a wealth tax... nor would I resent paying it
I just don't think 250 could be defined as wealth... not to a degree where, the tax won't be preventing you in some cases from playing with your
money without making taxes...
I see a number (fictional atm but possible under his guidance) Of 50% at 250 being a reduction off of upper middle class, and something for me to be
I don't much care what I pay in genuinely high brackets if it helps people or keeps them from being unruly and disruptive...poverty is BAD, it's
crime... it's desperation
Poverty, could end my life going to the store...
so a higher tax, if I am wealthy?
By all means
My concern is a greater degree of challenge and difficulty becoming wealthy
Not, having to shell out more of genuine profits, not investing 10-15% less, but rather... not being able to invest at all i think is far more worry
and that's ME
not statistics, not facts
But I would dare say... Obama was right at some level on the Greed issue at some point...
at 100 G plus... I still have student loan payments I haven't finished, my child support assigned is an OUCH every month, my total insurance costs
are... a major disturbance in the force, I work... all the time
I find his numbers...10 G for me could be all I have to put to retirement in a year right now... his idea of wealth is, very LOW
But if I was Rich, if I had 500 G a year to invest and thought it might only be 350 (and these are numbers of example only)
I don't think i'd cry over it... I could get that Aston martin I want and still drop another 100 G into savings or investments and waste another 50
That's a Good Life
and where I am, waiting another year or two to have a house purchase given the loan availability and wanting something not extravagant but... a family
would be proud of...
a couple years of my life, to have that, matters, money NOT going into savings or investments which is real for me at those figures matters
but multi millionaire income... shaving your 3rd home, I don't know how much of a fear that is by comparison to just wanting one nice one in the
But I know ME and I wouldn't mind the tax if I had...money left over