It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Thank you.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Originally posted by dreamingawake
Indeed a flaw or not asking for enough info on forms? I thought when people apply they have to add their bank account and or money in hand, plus other resources. In some places I hear, if you own a car that's worth over a couple hundred bucks or even go to college-unless you work too, you cannot apply. Yet, he gets away with that...
If I won that kinda money I'd be donating to food banks, shelters, etc, not taking from the people in need!
Originally posted by babybunnies
So here's a thought.
You all think that the Government taxing 50% on $2 million is a "ridiculous amount of money". I think just about everyone is in agreement here.
So therefore, would you think it's unreasonable that people making $360,000 a year should pay more than 35% in taxes? After all, they're giving the Government more than a third of their income and you thought it was ridiculous that this guy gave up half.
Disclaimer - I am definitely NOT included in the highest tax bracket in ANY country. I'm a regular wage slave, just like you. I live in one of the United Nations' top 20 most expensive cities in the world, and make a 5 figure salary.
Lots of people want to stop tax cuts for the rich, but the sort of talk that "taking 50% of someone's lottery winnings is ridiculous" gives the richest Americans fodder for their arguments.
If 50% tax for a guy with $2 million that he didn't have before is riduculous, what should be a tax rate for someone with $5 million, $10 million, $100 million, $1 billion, $10 billion ?
Of course, if you agree that the rich should pay less, then that shortfall would be made up somewhere. 1% reduction on an income of $10 billion takes an awful lot more than a 1% increase on a million people's incomes to cover.
It's time that you stopped and thought about what you were saying about taxes.
The only true fair tax is a flat national sales tax. The rich pay more, as they buy more.. Corporations would pay sales taxes as they still need to buy stuff to run the corporation. Illegal immigrants pay taxes because they need to buy stuff. Native Americans pay taxes cause they need to buy stuff.
With a flat national sales tax, everyone pays the same percentage, based on how much you buy. You buy more? Pay more tax. Period.
Of course, if you want to save money, you would be able to as there is no income tax on money that you don't spend.
This guy's $2 million would be tax free, until he went to buy stuff. If he chose to save it, he'd still have $2 million.
Ron Paul 2012 !edit on 17-5-2011 by babybunnies because: (no reason given)
Originally posted by buster2010
Originally posted by TrueInstinct
Considering $1,000,000 was taken from him? Then yeah, of course he has the right to.
He still had a million left over didn't he? I think he should have to repay every cent he has used from the time he won the money. Food stamps are for people who don't have the money to buy food not some ahole who cries about having to pay taxes on some money he won. And to his caseworker I would hand them a broom and say welcome to your new job.
can't believe they taxed him on his winnings..in the UK all winnings are tax free,not that I've won anything
Originally posted by TrueInstinct
Considering $1,000,000 was taken from him? Then yeah, of course he has the right to.
Originally posted by TrueInstinct
Considering $1,000,000 was taken from him? Then yeah, of course he has the right to.
MICHIGAN (NEWSCHANNEL 3) – Newschannel 3's I-Team investigation into Bridge Card abuse is exposing more gaps in the system.
On Monday, State Representative Dave Agema announced that a millionaire is still using his Bridge Card. The Saginaw man won two million dollars in the state lottery in the summer of 2010 and is still drawing taxpayer money.
Our I-Team also shined a light on college students and vacationers abusing the system. From lottery winners using the cards, to the cards being used out of state, we've heard from a lot of viewers outraged by the flaws in the system, and we're also continuing to hear from DHS about the changes it plans to address the abuse of Bridge Cards.
After the I-Team showed how millions were being spent with Michigan Bridge Cards in Florida, California, Nevada and Hawaii, the Department of Human Services says it's making changes.
DHS Deputy Director Brian Rooney says a new automated system will be in place by the summer of 2011 and fully operational by November. It will be an automated way to track Bridge Card use and make sure someone is not using food stamps from more than one state.
Prizes over $5,000: For any Michigan Lottery prize over $5,000, the Lottery is generally required to withhold an estimated 25 percent in federal tax and 4.35 percent in state tax.
These withholdings do not necessarily satisfy a winner's tax liability; they are simply estimates. We recommend that all winners contact the IRS, Michigan Department of Treasury and trusted tax professionals to determine whether additional tax payments will be required.
a million dollars today is like 100k 15 years ago.
Originally posted by DZAG Wright
Are any of you now ready to denounce capitalism?