Romney’s Tax Cut For Millionaires Would Be Nearly Twice The Size Of George Bush’s

god bless you, Mitt......

Sorry, I was cranky. Working too many hours and had just taken care of a fatal.

To be in the top 1%, your family needs to make $344k per year...do you really think that's enough to stop working and live off investments. Maybe in Kansas, but not New York or California.

I don't. I never said anything about stopping work or the top 1%. Nice try though

It's simple math - the numbers are available right on the IRS website. The average income of the top 1% is $717k a year. That includes the people making $385k and the people making tens of millions.

The top rate is 35% on the amount over $380k. The effective rate paid by the top 1% is 24%.

Knowing the average income is $717k, you can easily work out that much more of the income had to come from income taxes at 35% than capital gains at 15% to get to an effective rate of 24%.

then up the taxes on a small fraction of them.

What is with this Liberal obsession with raising taxes? Are you that jealous of those who prosper in this nation that you want to have even more money taken from them?

You need to work on your own station in life and stop worrying about how much the government is confiscating from job creators.

What is with this Conservative obsession with the have's, and have more's.. You know.. Their base?

Fixed

it's bitterness and envy, and fun to watch

Reinforces your self identity doesn't it !!!!

.

Bill, did you get a new email?

I think it is all the money being taxed at 15% as investments to the super wealthy. Try to keep up

double taxing money isn't enough for libtards

Why do we need to raise taxes on them?

Many of them are CEO's, business owners, well-paid professionals and people who tend to have a large amount of control over their job and their income.

I can say from my personal experience that if the government comes in and says "we're taking an extra $50k from you next year", I will adjust my financial exposure to 1) limit what they take and 2) maintain my lifestyle.

There is this idea in this country at somehow if you make more than "$X" you live a life of luxury and have more $$ than you know what to do with. That is simply untrue. My first job, I earned $20k a year and I thought that was a lot, after earning $6/hr before that. My boss earned $65k and I thought if I earned that much, I would be rich - I'd buy a new BMW and a nice house. When I was earning $90k I thought that $150k would be when I really can afford the things I want. When I was earning $180k I thought that $250k was where you start to really live well.

The point is that your spending changes to match your income. If you earn $50k a year, you drive a Ford and live in a 2000sq-ft home in a working class neighborhood. If you earn $150k a year you drive a late model BMW and live in a 3000sq-ft home in a nice neighborhood. If you earn $500k a year you drive a brand new Mercedes every 2 years and live in a 5000sq-ft home in a ritzy neighborhood. If you earn $5 million a year you drive a Bentley and live in a penthouse apartment in the city. If you earn $50 million a year you live in a Beverly Hills Mansion and have a chauffeur.

It's all relative. To most people, "rich" is someone who makes 50% more than them. I know plenty of people who earn $30k a year who would consider someone earning $50k a year "really well off" and think they should pay more in taxes.

But when you take the guy earning $500k a year - he's probably MUCH more in control of his finances than someone earning $50k a year. So when you tell that guy he needs to pay an extra $50k a year - it's not like he just walks to the bank and says "aww shucks" and writes a check. That would have a materially significant impact on his lifestyle. So maybe he lets a couple of people go at his work, and puts more money into tax-free investments than he would otherwise, etc. Thinking that changing the tax code exists in a vacuum and the only effect will be increased revenues is asinine.

Thinking that taxing the guy earning 10x what you do and somehow that money is going to find it's way into your pocket is even more asinine.


Only a total imbecile like Billy could possibly be so dumb as to be waiting around for the gov't to give him his.

Nobody gives a shit about what you think . Its obvious from this rant that all you spout is wishful thinking . That means it is bullshit to the rest of the forum !

There you go - "the have's, and have more's." Class envy at its finest.

You need to stop worrying about what other people have and focus on how you can obtain your own financial goals.

And?

When Clinton lowered the cap gains tax in the '90s the Federal government saw an increase in tax revenue from said reduction. So in short, lower taxes is a good thing, yes?

because they are only paying 15%

and nothing.

Perhaps in your mind, but not in reality. As I said, the data is right on the IRS website. The effective tax rate is 24% - a higher percentage than any other group.

Aside from that, capital gains is taxed on income from investments which have already been taxed.

What is the obsession with wanting the wealthy to pay more tax? They pay more as a dollar amount and as a percentage than anyone else. Other than "because we're jealous", what rationale is there for raising ONLY their taxes? What is so important that we need to raise taxes on the rich, but not so important that the rest of society doesn't need to kick in?

If we have a hole in the budget, shouldn't we stop pissing away money on stupid BS before we go to our most successful citizens and tell them they need to kick in an even larger portion of their already-larger-than-everyone-else share?

So you disagree with me.

So you think that you sitting around thinking the government is going to hand you prosperity on a silver platter is not dumb? The gov't never made anyone rich, Billy. Unfortunately, the cold, hard truth is that if you want wealth and prosperity, you are going to have to go out and earn it on your own.

Now, tell us about the multi-national corporation that you the CEO of. I always get a kick out of that story.

I'd call that an understtement

No answer huh?
This is becoming a trend for you..

I'm doing fine... You know what I do for a living. Plus, I'm still relatively young..

OOOH , going sarcastic again Immigrant ! Why do you project nonsense? You can theorize all you want . Many have gotten rich off of the Government. Do you have an Haliburton stock ? Its not always a direct line you fool.