I hope my effective tax rate will be 15% one day!

[shah269 0]

I hope my effective tax rate will be 15% one day!
That way I can spend more on stuff and help the ecomy grow and grow and grow.

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!

[charlie5 0]

That's basically how it works, even though I sense you're being sarcastic and think otherwise.

The feather butts bounce off ya like raindrops hitting a battle-star when they come in too fast...kinda funny to watch. - airtwardo

[kallend 2,027]

Quote

That's basically how it works, .

How come it works for the super rich, but not for Shah or me?

...

The only sure way to survive a canopy collision is not to have one.

[wmw999 2,452]

Interesting, though, that the kind of consumption that we say is one of the benefits to the economy is seen as being "vulgar" and "out of touch" if the effects are actually discernable (e.g. more than a couple of houses, yachts, etc).

What are they allowed to spend their money on? Not all start companies, that's for sure. And even if there weren't a lot of regulations, many of them still wouldn't I daresay.

Wendy P.

There is nothing more dangerous than breaking a basic safety rule and getting away with it. It removes fear of the consequences and builds false confidence. (tbrown)

[billvon 2,998]

>That's basically how it works

Not really. If you give Mitt Romney or Warren Buffet a tax break - say, lower their percentage from 15% to 10% - they won't spend more. They're just going to grow their bank accounts. Which of course has an indirect effect on the economy (the banks can make more loans with the money) but it's very indirect.

Compare that to giving a family of four a tax cut from 25% to 20% - and that money is generally going to go straight into diapers, clothing and rent. Which is a much more immediate economic boost.

[charlie5 0]

There has been a continued perception that MItt/Buffet have a 15% income tax rate by many people, that's not true. The 15% figure is from money made on investments. Dividends, cap gains etc.

Lower income tax rates to 15% as well to even it.

This isn't also how it work for just the "super rich". If we all have 15% more of our own money to save/spend, multiplied by millions of people, thats billions if not trillions of extra money that ends up stimulating companies we purchase from who in turn hire people, I really don't get why that basic concept it rejected or not understood.

The feather butts bounce off ya like raindrops hitting a battle-star when they come in too fast...kinda funny to watch. - airtwardo

[shah269 0]

Quote

Quote

That's basically how it works, .

How come it works for the super rich, but not for Shah or me?

Simple, god hates us!
And well as we all know god loves the GOP and as such he hates us....as in any one who can tan or doesn't want to donate a heart to Dead Eyes Dick.

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!

[kallend 2,027]

Quote

There has been a continued perception that MItt/Buffet have a 15% income tax rate by many people, that's not true..

WELL! The statement came from Romney's own mouth. Are you calling him a liar?

He also said that $374,327 he made in speaking fees was "not very much."

The guy is totally out of touch.

...

The only sure way to survive a canopy collision is not to have one.

[shah269 0]

Quote

He also said that $374,327 he made in speaking fees was "not very much."

WOW!
OK this is me saying it....but boy this guy can say some really dumb shit!
Did he just say $374,327 was "not very much."
OH boy...Obama may be a fucktard but this boy....wow....really? He said that? WOW!
Way to go dumb fuck! Way to fucking go!

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!

[Gravitymaster 0]

Quote

Quote

That's basically how it works, .

How come it works for the super rich, but not for Shah or me?

For 2 reasons. One is that you constantly support politicians that have convinced you it's good to raise taxes. Two you need to ask your Investment Advisor and Business Coach this question. Oh, you don't have an Investment Advisor or a Business Coach? Well, there you go, you have answered your own question.

[Gravitymaster 0]

Quote

Quote

He also said that $374,327 he made in speaking fees was "not very much."

WOW!
OK this is me saying it....but boy this guy can say some really dumb shit!
Did he just say $374,327 was "not very much."
OH boy...Obama may be a fucktard but this boy....wow....really? He said that? WOW!
Way to go dumb fuck! Way to fucking go!

People who make that much in speaking fees usually don't have dumb stuff to say. That's why they get paid that much.

[shah269 0]

Quote

People who make that much in speaking fees usually don't have dumb stuff to say. That's why they get paid that much.

Did he just say $374,327 was "not very much."
Yeah that's dumb and stuff and he said it.

I could do a much better job for $300k!
Hell I'll even bring my own lunch!

And yeah sadly I only make $100k and have an MBA and a condo so....my taxes will always be in the high 20's low 30's

But thats because god hates me

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!

[Gravitymaster 0]

Quote

Quote

People who make that much in speaking fees usually don't have dumb stuff to say. That's why they get paid that much.

Did he just say $374,327 was "not very much."
Yeah that's dumb and stuff and he said it.

I could do a much better job for $300k!
Hell I'll even bring my own lunch!

And yeah sadly I only make $100k and have an MBA and a condo so....my taxes will always be in the high 20's low 30's

But thats because god hates me

Or maybe you say a lot of dumb stuff.

[DrewEckhardt 0]

Quote

Quote

That's basically how it works, .

How come it works for the super rich, but not for Shah or me?

The super rich are part of the 0.4% whose tax savings let them make reportable campaign contributions the majority of which are $2500 ($5000 for married couples) per donor for some Congress Critters and even bigger contributions to Super PACs.

I'm betting that neither you nor Shah are doing your part to keep the Congress Critter Gravy Train running and therefore don't deserve any sort of quid pro quo.

[shah269 0]

I have never said $374,327 was "not very much."

But then again......my tax rate is a little over 25% and under 33% last i checked.

I would shoot kittens to have a tax rate fo 15%...but isn't that what Gecko did? Shoot kittens and kill children to get his tax rate that low?

Smart man very smart man! There will always be more kittens and children but money....well....can never have enough of that now can we?

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!

[billvon 2,998]

>There has been a continued perception that MItt/Buffet have a
>15% income tax rate by many people, that's not true. The 15% figure is
>from money made on investments. Dividends, cap gains etc.

Yes. 15% is their total tax paid.

And to think some people think that's too high, that the system is unfair to the rich.

>If we all have 15% more of our own money to save/spend, multiplied by
>millions of people, thats billions if not trillions of extra money that ends
>up stimulating companies . . . .

Sort of. Saving your own money doesn't really stimulate the economy. It just gives more money to banks, which at best is a very, very indirect stimulus of the economy. You'd do far better to give it to the government so they can hire more people and pay them. That's why tax cuts on the rich don't do much for the economy,

But tax cuts that result in spending DO help the economy directly - which is why cutting taxes on lower income people DOES work. This may go against some people's political philosophies (i.e. "why help those lazy people who make under 50K?") but economically it works a whole lot better than giving tax cuts to the rich.

[charlie5 0]

Giving money to the government to hire more people that don't actually produce any goods or services that people need doesn't do anything other than take money away from private companies that do said things.

Government is plenty large to handle its needs as is.

The feather butts bounce off ya like raindrops hitting a battle-star when they come in too fast...kinda funny to watch. - airtwardo

[weekender 0]

Quote

>There has been a continued perception that MItt/Buffet have a
>15% income tax rate by many people, that's not true. The 15% figure is
>from money made on investments. Dividends, cap gains etc.

Yes. 15% is their total tax paid.

And to think some people think that's too high, that the system is unfair to the rich.

>If we all have 15% more of our own money to save/spend, multiplied by
>millions of people, thats billions if not trillions of extra money that ends
>up stimulating companies . . . .

Sort of. Saving your own money doesn't really stimulate the economy. It just gives more money to banks, which at best is a very, very indirect stimulus of the economy. You'd do far better to give it to the government so they can hire more people and pay them. That's why tax cuts on the rich don't do much for the economy,

But tax cuts that result in spending DO help the economy directly - which is why cutting taxes on lower income people DOES work. This may go against some people's political philosophies (i.e. "why help those lazy people who make under 50K?") but economically it works a whole lot better than giving tax cuts to the rich.

What rich people do you know that keep their money in banks?? wealthy people dont have christmas savings accounts. they are diversified accross a wide spectrum of investments.

for example...they buy a large portion of the municipal bonds issued, for tax reasons, that build schools, roads and bridges etc.... rich people invest and it does help the economy. do you think the original investors in Facebook or Google were poor? no, they were already rich and looking for a way to put their money to work. who do you think buys all the short term notes so giant companies like GM and F can make payroll? almost exclusively rich people. I'd say that is pretty helpful if your GM or F and would like to have cash on hand.

not defending the current tax code but pointing out that rich people do put money into the economy and not hoard it in banks.

"The point is, I'm weird, but I never felt weird."
John Frusciante

[Skwrl 56]

Quote

People who make that much in speaking fees usually don't have dumb stuff to say. That's why they get paid that much.

Hahahhaha.... (sigh)

Oh wait, you're serious - let me laugh harder!

Hahahahahhahahahhha.....

I neither agree or disagree with your politics, but that comment is tantamount to damn silly. I can find soooooo many examples of folks who get paid a lot of money for speaking engagements who say utterly goofy things...

Skwrl Productions - Wingsuit Photography

Northeast Bird School - Chief Logistics Guy and Video Dork

[Gravitymaster 0]

Quote

Quote

People who make that much in speaking fees usually don't have dumb stuff to say. That's why they get paid that much.

Hahahhaha.... (sigh)

Oh wait, you're serious - let me laugh harder!

Hahahahahhahahahhha.....

I neither agree or disagree with your politics, but that comment is tantamount to damn silly. I can find soooooo many examples of folks who get paid a lot of money for speaking engagements who say utterly goofy things...

Apparently the people who pay a lot of money to listen to them would disagree with you. How much did you make on your last speaking engagement?

[rehmwa 2]

Quote

not defending the current tax code but pointing out that rich people do put money into the economy and not hoard it in banks.

to be fair, banks also invest, and loan.

it's not just a futile 'lock box'



the only way money doesn't continue circulation is when it's physically locked up, stuffed in a mattress, buried in a container in the ground, etc

I don't know anybody at any income level that does that, but sometimes it seems smarter than spending it or investing it (sometimes)

...
Driving is a one dimensional activity - a monkey can do it - being proud of your driving abilities is like being proud of being able to put on pants

[weekender 0]

>to be fair, banks also invest, and loan. it's not just a futile 'lock box'


I dont dissagree and if thats how it read it was not my intent. I was responding to the person who implied rich people keep their money in banks which is not the case mostly.

"The point is, I'm weird, but I never felt weird."
John Frusciante

[kelpdiver 2]

Quote

Quote

I neither agree or disagree with your politics, but that comment is tantamount to damn silly. I can find soooooo many examples of folks who get paid a lot of money for speaking engagements who say utterly goofy things...

Apparently the people who pay a lot of money to listen to them would disagree with you. How much did you make on your last speaking engagement?

People pay good money to hear Palin, Paris Hilton, Justin Bieber. In fact, I would say there is a nice inverse curve where the most intelligent people are getting paid substantially less than the most vapid celebrities out there.

[kelpdiver 2]

Quote

WELL! The statement came from Romney's own mouth. Are you calling him a liar?

He also said that $374,327 he made in speaking fees was "not very much."

The guy is totally out of touch.

Every week while Romney attempts to curry public opinion and convince us that he's one of us, he continues to demonstrate out completely out of touch he is. It's going to be hilarious after he gets the nomination.

[mnealtx 0]

Quote

>to be fair, banks also invest, and loan. it's not just a futile 'lock box'


I dont dissagree and if thats how it read it was not my intent. I was responding to the person who implied rich people keep their money in banks which is not the case mostly.

Exactly - rich people didn't get rich by keeping their money locked away, they made their money work for them.

Mike
I love you, Shannon and Jim.
POPS 9708 , SCR 14706