marks2065 0 #26 September 20, 2011 Quote Quote Quote Hm. I wonder if he complains about the $16 muffins? http://www.huffingtonpost.com/2011/09/19/john-fleming-obama-millionaires-tax-buffett-rule_n_970084.html http://news.yahoo.com/blogs/ticket/rep-john-fleming-field-criticism-over-600k-income-153305241.html Oh, boo-hoo. I like how they spin the "earnings" He did not earn $6m he earned About $600k and he uses most of that to reinvest in his companies. The more the gov takes the less he will have to buy things for his businesses. Only the stupid would take his capital from him and let the business suffer. I am working on 2-4% profit to reinvest in equipment and supplies for my business and if I got an increase in taxes it would possibly bleed me to bankrupcy in a few years. This guy is working on about a 6% margin for reinvestment capital, if you take 3% more from him (half the profit) the employes and supplies are the 2 largest pices of the pie to pull the needed money from. I would take it from the employee part of the pie because I would not take it from the supply side because that would reduce the quality of my product. the class war that is being stirred by the left is assinine and will cause more loss of jobs and a further erossion of the middle class. I wonder how much he and so many others have "spun" all kinds of things as "business expenses" that would not stand up under scrutiny from the IRS on closer inspection as so many patriotic Ameican business owners do every year.... as long as they get away with it.. its just business right?? get rid of deductions and have everyone pay 25% tax Quote Share this post Link to post Share on other sites
marks2065 0 #27 September 20, 2011 Quote>were did he say he was hurting or struggling? He didn't. I said that it was absurd to claim that he and his family can't live on $400K a year, and you said "When you add in the fact that he is paying for all his bills and not being suplemented by the government like many that earn 40k a year or less, he is correct." That is an asinine argument. If you can't live on $400K a year (or even $200K) you are an out of touch elitist who has never had to live in the real world. >That would leave about 200k for his personal expenses. My God! He might not even be able to afford a new yacht this year! O the embarrassment. yep and the yacht builder doesn't have enough to pay his employees now, the yacht captain doesn't have one to sail, the made doesn't have one to clean, I guess more layoffs is what you wanted anyway. Quote Share this post Link to post Share on other sites
charlie5 0 #28 September 20, 2011 Wow that article is nothing but spin. Regardless, he EARNED that money and at the same time provided employment for many.The feather butts bounce off ya like raindrops hitting a battle-star when they come in too fast...kinda funny to watch. - airtwardo Quote Share this post Link to post Share on other sites
marks2065 0 #29 September 20, 2011 QuoteQuoteQuote>When you add in the fact that he is paying for all his bills and not being >suplemented by the government like many that earn 40k a year or less, he is correct. You couldn't live on $400K a year? If he continues to try to spin that asinine argument he will (correctly) be labeled as a clueless and out of touch elitist. Will be interesting to see whether he realizes this, or does the Speaker's Corner thing and hangs on to an unsupportable argument to the bitter end. Since he is taxed on the 600k, that would leave about 450k, and he said most of that goes back into his businesses. That would leave about 200k for his personal expenses. try again Bill. and were did he say he was hurting or struggling? The argument is if Obama raises taxes what would he use to continue and expand his businesses and who would suffer in the end. Actually, he's probably not taxed on the $600,000 since his corp world be paying the taxes on the $6.3 million. However, his family must be pretty fat if it takes $200,000 to feed them. I guess he could go out and get a second job; oh wait, he does have a second job and it also pays him a six figure salary! taxes are paid on profit calculated from reciepts minus costs leaving about 600k. I would also say he employs alot of people, even in his own home. Quote Share this post Link to post Share on other sites
CanuckInUSA 0 #30 September 20, 2011 QuoteHe does say things that do not necessarily make sense, things like taking money out of the corporation in the form of a salary only to have to reinvest it back in the corporation. No way you are going to pay yourself a salary subjecting yourself to higher income taxes only to put the money back into the business. If you want to reinvest in the business the money stays in the business. Looks like I was mistaken when I wrote this. I missed the part where he said he was operating an LLC (Limited Liability Company) and that his income from his businesses were passed through to the owner of the LLC (himself). So everything he said was correct. If the government wanted to take more taxes from him, he would have less money to reinvest back into his businesses. Face it, the business community has no confidence in Obama. As long as Obama continues to push his Wealth Redistribution agenda, no new venture capital will be spent and things will only get worse for those who needs jobs. The USA would have been much better off had the Democrats chosen Billary to be their Grand Poobah. Do not expect any positive changes in the unemployment numbers while Obummer is in office. BTW ... this whole thread of a millionaire congressman whining that he is just barely getting by on $600k/year is a complete joke. Nowhere in the interview did he say such a thing. Try not to worry about the things you have no control over Quote Share this post Link to post Share on other sites
billvon 2,998 #31 September 20, 2011 >yep and the yacht builder doesn't have enough to pay his employees now Same is true of the people who work for the Housing and Urban Development department - and yet you want to cut their income too! There are no easy answers. However, arguing that yachtbuilders are having a hard time is a non-starter. Quote Share this post Link to post Share on other sites
marks2065 0 #32 September 21, 2011 Quote>yep and the yacht builder doesn't have enough to pay his employees now Same is true of the people who work for the Housing and Urban Development department - and yet you want to cut their income too! There are no easy answers. However, arguing that yachtbuilders are having a hard time is a non-starter. The gov should not be building houses they should be governing. Quote Share this post Link to post Share on other sites
fossg 0 #33 September 21, 2011 So... want me to put you down for a couple hundred for this poor,poor man? Quote Share this post Link to post Share on other sites
Amazon 7 #34 September 21, 2011 QuoteSo... want me to put you down for a couple hundred for this poor,poor man? Not in this lifetime.... I am sure there are plenty here who are more than willing to help him out.... by puckerin up real pretty like as they are used to doing for the rich. Quote Share this post Link to post Share on other sites
Andy9o8 2 #35 September 21, 2011 Quote The gov should not be building houses they should be governing. You got F's in social studies, didn't you? Quote Share this post Link to post Share on other sites
marks2065 0 #36 September 21, 2011 Quote Quote The gov should not be building houses they should be governing. You got F's in social studies, didn't you? no just B's, but I Got A's in math and business Quote Share this post Link to post Share on other sites
Andy9o8 2 #37 September 21, 2011 Quoteno just B's An excellent example of grade inflation, then. Quote Share this post Link to post Share on other sites
marks2065 0 #38 September 21, 2011 QuoteQuoteno just B's An excellent example of grade inflation, then. no an excellent job of understanding how liberals think and adjusting to satisfy the liberal teacher to get a good grade. Quote Share this post Link to post Share on other sites
Andy9o8 2 #39 September 21, 2011 QuoteQuoteQuoteno just B's An excellent example of grade inflation, then. no an excellent job of understanding how liberals think and adjusting to satisfy the liberal teacher to get a good grade. My life's anecdotal experience is that any random idiot can barf out the word "Liberal" as a limp-dick alternative to actual thought and discourse. It's more or less the other side of the grade inflation coin. Quote Share this post Link to post Share on other sites
shah269 0 #40 September 21, 2011 http://samsonblinded.org/news/wp-content/uploads/HLIC/1d242b174faa3eafb6e51808943cda22.jpg Now why can't we elect more guys like this man! Now this guy! This guy! Let me tell you all cock and balls! Adn he has a thing for T&A and I for one am ok with it!Life through good thoughts, good words, and good deeds is necessary to ensure happiness and to keep chaos at bay. The only thing that falls from the sky is birdshit and fools! Quote Share this post Link to post Share on other sites
fossg 0 #41 September 22, 2011 Where oh where is your compassion? This man is a member of Congress... A decisive leader of our country. Some one who puts the needs of his country far above the needs of his own. Quote Share this post Link to post Share on other sites
Amazon 7 #42 September 22, 2011 Quote Where oh where is your compassion? This man is a member of Congress... A decisive leader of our country. Some one who puts the needs of his country plutocrat benefactors first and formost far above the needs of his own constituents and countrymen. There Foss...... fixed it for ya Quote Share this post Link to post Share on other sites
