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Originally posted by origamiandurbanism
They don't pay SS tax at that level, etc.
Originally posted by origamiandurbanism
Originally posted by armtx
Define wealth and I will get into a conversation with you on that matter, because I agree with some of what you are saying and disagree with other points.
I dont defend the wealthy because making 150k a year to me is not wealthy. Between my wife and myself we make 150k a year and we certainly do not struggle, but we are not wealthy either. In fact, we get taxed heavier than any other tax bracket when you consider we dont have any children. I would call my financial situation a comfortable one, but the missery I have to go through every day is not worth it for the amount of money I make.
I never said in my post that someone that makes 150K a year is wealthy. Although you are making more than a lot of people in this country. What exactly is it that you disagree with? The fact is most people are not making enough money anymore in the US when compared to inflation and cost of living. I dunno, that seems to be a big problem to me.
I believe that people that earn over 150K-250K on a single income have it extremely good compared to everyone else in this country. The current tax rate at that level does not effect them nearly as much as other tax rates effect other incomes. They don't pay SS tax at that level, etc.
Originally posted by debunky
Originally posted by macman
Originally posted by Kitilani
Originally posted by macman
Why does it matter?
To raise taxes is to take away from some to give to others.
If I go from say $150k a year, taxed at 40%, only to go to $300k a year and then taxed at 50%, then why move up in life? It is punishment.
Very plain and simple.
Because you cannot do math?
$150K - 40% = $90K
$300k - 50% = $150k
Why would you want almost double the money?edit on 29-6-2011 by Kitilani because: (no reason given)edit on 29-6-2011 by Kitilani because: (no reason given)
Yes, I am and was aware of the difference.
But, those percentages were a ballpark and in all reality the tax rate for someone in the $300k would be more like 60%. But with that said, I still don't understand why you and others feel it neccesary that because someone makes more money, that they should pay more money.
By that standard, someone making $150k a year would pay $20k for a car, yet the person making $300k a year should pay $50k for the same car.
It comes down to basic envy of others. Stop worrying about what your neighbor has, and start worrying about yourself and how to improve your life, not tear down others.
Because an additional $ in income in a low income household is more likely to be spent, generating demand, wich in turn generates business opportunities and jobs.
On the other hand high income households are more likely to own businesses. High tax rates are an incentive to keep income low, encouraging reeinvestment (which in turn creates jobs, which in turn increases disposable income, which in turn increases demand, which in turn generates business opportunities and jobs)
Originally posted by debunky
reply to post by macman
Do you dispute that more disposable income on the lower end of the tax brackets leads more directly to increased demand, while on the higher end, you have no way to tell where it ends up?
Originally posted by greeneyedleo
Oh yes....the 'ol "I'm jealous others have more than me, so I feel they should pay more out than everyone else" argument
My family for generations back worked their arses off to obtain the wealth they had. They never depended on the system. They started and built up businesses, invested wisely and were extremely successful. They donated to charities and helped out those in need - of their own free will.
Yet......many out there feel they are entitled to receive handouts from them (and others like them) because they are more successful.
No. Absolutely not. People earn it, they should do what they want with it. And it is ridiculous and selfish to think that those who have more should dish it out to those who have less.
What is more ridiculous are all the generations after having to pay inheritance taxes on money THAT WAS ALREADY TAXED. That money gets re-taxed over and over and over - each time it is handed down. Yeah, that is fair
Originally posted by Crakeur
sure they do but it's capped. The reason for this is, if a person making a million a year paid social security on the total salary, they'd want, in return, a benefit commensurate with the amount they contributed. Social Security wouldn't be able to pay them a fair amount so they put a cap on the contribution amount and they effectively reduce the amount they would have had to pay them upon retirement.
Originally posted by armtx
I guess I sound conceited for complaing about taking home 100k a year as a family, but at the end of the day I have worked hard for what is mine and taxation just makes me think that I shouldnt work that hard because we would get along just fine on 100k a year...dunno