Tax hike for the wealthy

Godfather.

"We can't just cut our way out of this hole. It's going to take a balanced approach," Obama said. "It's only right that we ask everyone to pay their fair share."
these tax hikes would not affect me....but will they force more out-sourcing ? that could affect thousands of people or am I seeing this wrong ?
http://www.foxnews.com/politics/2011/09 ... e-deficit/


Godfather.

ComeToTX

is more-outsourcing possible? Tax them! It hasn't worked the other way.

Jokertt14

Its a great idea . I really love hearing them all bitch about it .

Cliffy6745

"By the time I feed my family, I have maybe $400,000 left over."

-- Rep. John Fleming (R-LA), in an interview on MSNBC, on why as a small business owner he can't afford a tax increase.

gimmesometruth27

Cliffy6745 wrote:

"By the time I feed my family, I have maybe $400,000 left over."

-- Rep. John Fleming (R-LA), in an interview on MSNBC, on why as a small business owner he can't afford a tax increase.

tax them. free ride is over...

whispering hands

Cliffy6745 wrote:

"By the time I feed my family, I have maybe $400,000 left over."

-- Rep. John Fleming (R-LA), in an interview on MSNBC, on why as a small business owner he can't afford a tax increase.

LMAO and what about ME !?!?!? By the time I feed my cat.. I only have 400.00 left over!!! Seriously.. I have to agree that the free ride is over.. I don't think we as middle class citizens should get penalized for not making millions or billions while the rich just sit back and get fatter off of our tax hikes..

Godfather.

gimmesometruth27 wrote:

Cliffy6745 wrote:

"By the time I feed my family, I have maybe $400,000 left over."

-- Rep. John Fleming (R-LA), in an interview on MSNBC, on why as a small business owner he can't afford a tax increase.

tax them. free ride is over...

I could be a little lost with this question but.. what would you think of adding bigger taxs or terifs to imported goods like cars motorcycles t.v's etc. and giving American mfg's a break to keep their business here ?


Godfather.

Lizard

Cliffy6745 wrote:

"By the time I feed my family, I have maybe $400,000 left over."

-- Rep. John Fleming (R-LA), in an interview on MSNBC, on why as a small business owner he can't afford a tax increase.

f***er.

keeponrockin

Godfather. wrote:

gimmesometruth27 wrote:

Cliffy6745 wrote:

"By the time I feed my family, I have maybe $400,000 left over."

-- Rep. John Fleming (R-LA), in an interview on MSNBC, on why as a small business owner he can't afford a tax increase.

tax them. free ride is over...

I could be a little lost with this question but.. what would you think of adding bigger taxs or terifs to imported goods like cars motorcycles t.v's etc. and giving American mfg's a break to keep their business here ?


Godfather.

I would be for it, corporations would not be, therefore it won't get done.

Shawshank

Cliffy6745 wrote:

"By the time I feed my family, I have maybe $400,000 left over."

-- Rep. John Fleming (R-LA), in an interview on MSNBC, on why as a small business owner he can't afford a tax increase.

Just to clarify what he said....."the amount that I have to reinvest in my business and feed my family is more like $600,000 of that $6.3 million. And so by the time I feed my family, I have maybe $400,000 left over to invest in new locations, upgrade my locations, buy more equipment.”

I hate to even comment and be tied to what the flippin tea party has become, but as someone who runs a few businesses, I can "kinda" see where he's coming from. I have no idea who this guy is, or what he stands for, and I'm trying my best to picture him as not being a politician, because I automatically just see him as full of shit then. There are a lot of honest hard working people out there who are running businesses just like he does, so I'll just pretend he's one of them. At this point the only thing I think he should be taxed for is being an idiot. The dumbest thing he could have said is "feed my family". He should have just said, you know...I'm managing 500 employees, I'm responsible for multiple businesses, it's my neck on the line if something happens, and dammit, I'm taking home $200K a year, because I've earned it. And he's right...he would have earned it. Honestly, if he's pulling $200K out of his net as his personal income, that's not a big deal when you consider the headache it requires to actually run a small business. Being that his money flows through his LLC as most do, then you can be guaranteed he's not going to let his personal life take a hit. His standard of living is going to remain the same, which means whatever additional taxes are held are going to come out of his investment money. Right or wrong, that's his choice I guess, but it could have an impact on jobs either by this idiot not hiring more people or laying people off.

He obviously has a boatload of Subway's and UPS stores if he has 500 employees, so to have $400,000 left to reinvest in your business is chicken shit when you have multiple locations. Unless he wants to carry debt, he'd be hard pressed to open 1 new location a year for that, not to mention upgrades that each location may need. If anything, it sounds like he needs to find a way to trim the fat a little if he only has that much left every year.

pandora

When we were making big bucks and JB worked 70 hours a week
I felt it unfair to be overly taxed
I felt it was a punishment for doing well, working hard, being smart,
providing jobs for 35 employees.

Then the economy went to shit ... JB still works 70 hours a week but makes little
and we can only employee 5 people.

Because I see it from both sides I say be thankful for what you have,
work hard, do well and pay more in taxes if you have it.
Millionaires have more to give and should give more,
not get tax breaks when the country is in trouble ...
their country is in trouble.

Greed is really a filthy thing and takes a heart
and squeezes it small so that it just can't give.

markin ball

The "rich" get taxed because they have the vast majority of the money and the disposable income. It's really that simple. We can't, and don't, tax the "middle class" because they don't have any money.

markin ball

pandora wrote:

When we were making big bucks and JB worked 70 hours a week
I felt it unfair to be overly taxed
I felt it was a punishment for doing well, working hard, being smart,
providing jobs for 35 employees.

Then the economy went to shit ... JB still works 70 hours a week but makes little
and we can only employee 5 people.

Because I see it from both sides I say be thankful for what you have,
work hard, do well and pay more in taxes if you have it.
Millionaires have more to give and should give more,
not get tax breaks when the country is in trouble ...
their country is in trouble.

Greed is really a filthy thing and takes a heart
and squeezes it small so that it just can't give.

I feel what your saying, Pandora. I have a weird set up in my current job as I can choose to work more or less depending on how much money I want to make. The problem is that if I work a certain amount I get to another tax bracket and it washes out the same if I had worked less. So I am mindful of that and am trying to sneak just underneath that so I am not just working to pay more taxes. The other side is a "fair" or "flat tax" system. The big problem with that is taking more disposable income from the "consumer" class (which currently pays little to no income taxes in many cases) can hurt the economy as a whole big time. So what do you do?

blueandwhite

This tax hike will never happen.

As much as people complain about inequity, Americans hate taxation with a passion (even if a portion of your taxes do pay for infrastructure). The idea of taxing the wealthy who are considered by many to be the hardest working and most valuable members of society will inevitably be met with huge resistance. I can't imagine any Republican supporting a tax hike on the wealthy. Heck, I think Obama will have a hard enough time getting support from the Democrats on a tax hike.

For many Americans, public workers and the working poor are seen as the real problem. Considering that a large number of the populous view these individuals to be leeches, raising taxes on the rich and the uber-rich is easily going to find resistance. I'd hazard to guess that Obama's proposal will inevitably be spun as an attack on American prosperity and another attempt to destroy the free market.

pandora

markin ball wrote:

pandora wrote:

When we were making big bucks and JB worked 70 hours a week
I felt it unfair to be overly taxed
I felt it was a punishment for doing well, working hard, being smart,
providing jobs for 35 employees.

Then the economy went to shit ... JB still works 70 hours a week but makes little
and we can only employee 5 people.

Because I see it from both sides I say be thankful for what you have,
work hard, do well and pay more in taxes if you have it.
Millionaires have more to give and should give more,
not get tax breaks when the country is in trouble ...
their country is in trouble.

Greed is really a filthy thing and takes a heart
and squeezes it small so that it just can't give.

I feel what your saying, Pandora. I have a weird set up in my current job as I can choose to work more or less depending on how much money I want to make. The problem is that if I work a certain amount I get to another tax bracket and it washes out the same if I had worked less. So I am mindful of that and am trying to sneak just underneath that so I am not just working to pay more taxes. The other side is a "fair" or "flat tax" system. The big problem with that is taking more disposable income from the "consumer" class (which currently pays little to no income taxes in many cases) can hurt the economy as a whole big time. So what do you do?

and I sure understand what you are saying ...
this really gets to my son who runs our printing press
his OT pushes him into another tax bracket where he really doesn't see it on his check much.
Making it not worthwhile to him.

These hours are the long hard ones that beat him up
and take away the small fun time he has available.
Worst part he really has no choice but to work them cause his father needs him.

A rock and a hard place and then mom says be thankful you have a job
he might want to strangle Mom sometimes

I'm for a fair or flat tax ... I think if I understand it correctly.

I'm for simplifying taxation and not allowing so many loopholes.

I would like to see the greed stop and see people caring enough about their country
to pay their fair share including the wealthy corporations and super wealthy individuals.
That would make a stronger country and economy and help their business and my little one.

I mean you can't take it with you and does anyone really need billions of dollars?
I don't get those obsessed with power and money,
its like a game to them...
I think one day they will regret this big time.

Shawshank

Again...why do we not just eliminate income tax, and have a sales tax on everything except for food? Just set the rate at 7 or 8 percent. Then your pizza man, drug lords, landscapers, sandwich makers, pimps, prostitutes, bank president, orthodontist, teacher, and everyone else in the country will all be paying "their fair share". If you want to buy a $300,000 boat...go do it...and pay the tax on it. If they spend their money, they will be taxed on their money with no loopholes or any other BS. Can you imagine the expenses the government could shed from it's annual budget when they eliminate the IRS? Of course this would never happen, but it's a nice dream.

fife

Shawshank wrote:

Again...why do we not just eliminate income tax, and have a sales tax on everything except for food? Just set the rate at 7 or 8 percent. Then your pizza man, drug lords, landscapers, sandwich makers, pimps, prostitutes, bank president, orthodontist, teacher, and everyone else in the country will all be paying "their fair share". If you want to buy a $300,000 boat...go do it...and pay the tax on it. If they spend their money, they will be taxed on their money with no loopholes or any other BS. Can you imagine the expenses the government could shed from it's annual budget when they eliminate the IRS? Of course this would never happen, but it's a nice dream.

they tried to that before and what happen was that the rich just stopped buying big ticket items. a sales tax is great but does actually effect the poor and middle class more.

he still stands

I would like to see someone show me good information on how low(er) taxes on the wealthy spurs the economy, creates jobs, etc. It is a complete myth. Those people don't know what to do with the money they save on lower taxes, and our tax system is completely regressive (as you make more money, the less you spend on taxes as a percentage of your income). If you want to spur the economy and increase spending, one way to do that is to lower taxes for the middle class... the people who make up the majority of consumer spending. But that isn't a "smart" way to spur the economy... there are many other better ways to do that.

Regardless, that isn't why the tax cuts are being put back into place. A "tax hike" is a misnomer because all that Obama is proposing is that we repeal the tax cuts for the wealthy that Bush put into place. The purpose here is to stop the national debt from soaring any further out of control, so all this talk about mythological ways it could possibly hurt the economy - for which there is NO evidence - is irrelevant.

Like Obama said, this isn't about class warfare, it is about fucking math (he omitted "fucking.") Money goes in... money goes out. He is proposing that to stop the bleeding we increase money in, AND decrease money out. It seems fairly plain to me that this is the ONLY way to go about it... one or the other isn't going to work. Although with that being said, we spend more on military and defense than the next fucking 15 countries COMBINED, which amounts to over 40% of your federal tax dollar, so I think we could just cut that in half (or more) and have this thing taken care of in the next decade or so.

BinauralJam

Although with that being said, we spend more on military and defense than the next fucking 15 countries COMBINED, which amounts to over 40% of your federal tax dollar, so I think we could just cut that in half (or more) and have this thing taken care of in the next decade or so.

i beleive this is where ALL of our problems come from.

Godfather.

BinauralJam wrote:

Although with that being said, we spend more on military and defense than the next fucking 15 countries COMBINED, which amounts to over 40% of your federal tax dollar, so I think we could just cut that in half (or more) and have this thing taken care of in the next decade or so.

i beleive this is where ALL of our problems come from.

but it's also why we are the most powerful nation in the world in terms of battle field technology.

Godfather.

megatron

pandora wrote:

When we were making big bucks and JB worked 70 hours a week
I felt it unfair to be overly taxed
I felt it was a punishment for doing well, working hard, being smart,
providing jobs for 35 employees.

Then the economy went to shit ... JB still works 70 hours a week but makes little
and we can only employee 5 people.

Because I see it from both sides I say be thankful for what you have,
work hard, do well and pay more in taxes if you have it.
Millionaires have more to give and should give more,
not get tax breaks when the country is in trouble ...
their country is in trouble.

Greed is really a filthy thing and takes a heart
and squeezes it small so that it just can't give.

ahhh a reasonable point of view. how nice.
i am a broke ass now that used to make money. i get what you're saying.