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$ Trillion Tax Hike for top EARNERS

Godfather.Godfather. Posts: 12,504
edited October 2012 in A Moving Train
http://www.foxnews.com/politics/2012/10 ... n-wealthy/

Godfather.
Post edited by Unknown User on

Comments

  • inmytreeinmytree Posts: 4,741
    Godfather. wrote:
    http://www.foxnews.com/politics/2012/10/04/biden-acknowledges-obama-want-to-raise-1t-in-taxes-on-wealthy/

    Godfather.


    sweet fanny Moses...this is turrible...

    the article doesn't give a time frame....could it be spread out over many years or am I to be concerned about billionaires having to pay this all at once....?

    gosh, I wonder what happened to all the job-crushing-debt talk....

    it's like folks taking the whole family out to dinner, running up a huge check, they bitching when the bills come due...if folks are so concerned about their grandchildren, then shut and pay the bill...now....

    disclaimer: I support letting all the bush tax cuts expire...for everyone...
  • Godfather.Godfather. Posts: 12,504
    :lol::lol::lol:


    Godfather.
  • whygohomewhygohome Posts: 2,305
    I have no problem raising taxes on millionaires, especially:

    celebrities
    reality TV "stars"
    professional athletes
    actors/actresses (isn't it weird to live in a country where an actor can make $10,000,000 for playing the role of a soldier in a film, but a real soldier on the front lines only makes an average of $50,000?)
    Cable News network hosts
    TV show hosts (I'm looking at you and your $17,000,000 a year salary Matt Lauer.)
    musicians
    Rush Limbaugh
    Glenn Beck
    Bill Maher
    ad on and on and on
  • Godfather.Godfather. Posts: 12,504
    whygohome wrote:
    I have no problem raising taxes on millionaires, especially:

    celebrities
    reality TV "stars"
    professional athletes
    actors/actresses (isn't it weird to live in a country where an actor can make $10,000,000 for playing the role of a soldier in a film, but a real soldier on the front lines only makes an average of $50,000?)
    Cable News network hosts
    TV show hosts (I'm looking at you and your $17,000,000 a year salary Matt Lauer.)
    musicians
    Rush Limbaugh
    Glenn Beck
    Bill Maher
    ad on and on and on

    I noticed you didn't add any business owners (GE FORD GM etc.)
    I have no problem with this Idea but I believe we should give tax breaks to corp's and small business owners to keep work in the USA and just to help the small business stay open(they help to feed the local economy).

    but just to be fair if Matt L made $17m last year how much did he pay of that in tax's ? I don't know but I'll bet it was more than you and I paid, is it fair that Matt or professional athletes pay a higher percentage bracket because they earned more than us ?

    to me those are tough questions, if we all paid (just for the sake of argument) 20 % in taxes on gross yearly income and I made $100,000 so I paid $40,000 in taxes (not to mention property and sales taxes on every thing I buy) so now Matt who also pays his 20% on $17m.......see what I'm saying ? they will still pay more than the avarage joe so is it fair to punnish them for being wealthy and make them pay ..say 50% ?

    I am the farthest thing from being a tax expert but I do like to lean towards the fair side of things :mrgreen:
    it just seems to me that we get taxed in a unfare mannor and for just about anything you can imagine.

    Godfather
  • whygohomewhygohome Posts: 2,305
    Godfather. wrote:
    whygohome wrote:
    I have no problem raising taxes on millionaires, especially:

    celebrities
    reality TV "stars"
    professional athletes
    actors/actresses (isn't it weird to live in a country where an actor can make $10,000,000 for playing the role of a soldier in a film, but a real soldier on the front lines only makes an average of $50,000?)
    Cable News network hosts
    TV show hosts (I'm looking at you and your $17,000,000 a year salary Matt Lauer.)
    musicians
    Rush Limbaugh
    Glenn Beck
    Bill Maher
    ad on and on and on

    I noticed you didn't add any business owners (GE FORD GM etc.)
    I have no problem with this Idea but I believe we should give tax breaks to corp's and small business owners to keep work in the USA and just to help the small business stay open(they help to feed the local economy).

    but just to be fair if Matt L made $17m last year how much did he pay of that in tax's ? I don't know but I'll bet it was more than you and I paid, is it fair that Matt or professional athletes pay a higher percentage bracket because they earned more than us ?

    to me those are tough questions, if we all paid (just for the sake of argument) 20 % in taxes on gross yearly income and I made $100,000 so I paid $40,000 in taxes (not to mention property and sales taxes on every thing I buy) so now Matt who also pays his 20% on $17m.......see what I'm saying ? they will still pay more than the avarage joe so is it fair to punnish them for being wealthy and make them pay ..say 50% ?

    I am the farthest thing from being a tax expert but I do like to lean towards the fair side of things :mrgreen:
    it just seems to me that we get taxed in a unfare mannor and for just about anything you can imagine.

    Godfather

    I look at it as what they do, as the importance of what they do, the sacrifices they make for the betterment of society. They work hard, yes, but doesn't a soldier work hard? A fireman? A teacher? A cop?
    To me, the $$$ made by those in the entertainment industry is ridiculous.

    And yes, I feel CEO pay is ridiculous. tax them as well....and at incredible levels under the socialist President

    Either way, taxes on the rich are incredibly low by historical standards. I don't buy the argument that they are burdened by taxation, especially when all the wealth goes tot hem---93% of wealth gained since the recession has gone to the top 1%.
    For people who make over 5 or 10 million dollars a year, it isn't too much to ask for them to pay more in taxes.
  • Godfather.Godfather. Posts: 12,504
    whygohome wrote:
    Godfather. wrote:
    whygohome wrote:
    I have no problem raising taxes on millionaires, especially:

    celebrities
    reality TV "stars"
    professional athletes
    actors/actresses (isn't it weird to live in a country where an actor can make $10,000,000 for playing the role of a soldier in a film, but a real soldier on the front lines only makes an average of $50,000?)
    Cable News network hosts
    TV show hosts (I'm looking at you and your $17,000,000 a year salary Matt Lauer.)
    musicians
    Rush Limbaugh
    Glenn Beck
    Bill Maher
    ad on and on and on

    I noticed you didn't add any business owners (GE FORD GM etc.)
    I have no problem with this Idea but I believe we should give tax breaks to corp's and small business owners to keep work in the USA and just to help the small business stay open(they help to feed the local economy).

    but just to be fair if Matt L made $17m last year how much did he pay of that in tax's ? I don't know but I'll bet it was more than you and I paid, is it fair that Matt or professional athletes pay a higher percentage bracket because they earned more than us ?

    to me those are tough questions, if we all paid (just for the sake of argument) 20 % in taxes on gross yearly income and I made $100,000 so I paid $40,000 in taxes (not to mention property and sales taxes on every thing I buy) so now Matt who also pays his 20% on $17m.......see what I'm saying ? they will still pay more than the avarage joe so is it fair to punnish them for being wealthy and make them pay ..say 50% ?

    I am the farthest thing from being a tax expert but I do like to lean towards the fair side of things :mrgreen:
    it just seems to me that we get taxed in a unfare mannor and for just about anything you can imagine.

    Godfather

    I look at it as what they do, as the importance of what they do, the sacrifices they make for the betterment of society. They work hard, yes, but doesn't a soldier work hard? A fireman? A teacher? A cop?
    To me, the $$$ made by those in the entertainment industry is ridiculous.

    And yes, I feel CEO pay is ridiculous. tax them as well....and at incredible levels under the socialist President

    Either way, taxes on the rich are incredibly low by historical standards. I don't buy the argument that they are burdened by taxation, especially when all the wealth goes tot hem---93% of wealth gained since the recession has gone to the top 1%.
    For people who make over 5 or 10 million dollars a year, it isn't too much to ask for them to pay more in taxes.

    ummm you make a good point..
    but....also our tax dollars should be monintered and spent more wisely.

    Godfather.
  • whygohomewhygohome Posts: 2,305
    Godfather. wrote:
    ummm you make a good point..
    but....also our tax dollars should be monintered and spent more wisely.

    Godfather.

    Well, of course. It's very difficult to trust a government that has been a complete failure since, and including, 9/11.
  • RW81233RW81233 Posts: 2,393
    whygohome wrote:
    I have no problem raising taxes on millionaires, especially:

    celebrities
    reality TV "stars"
    professional athletes
    actors/actresses (isn't it weird to live in a country where an actor can make $10,000,000 for playing the role of a soldier in a film, but a real soldier on the front lines only makes an average of $50,000?)
    Cable News network hosts
    TV show hosts (I'm looking at you and your $17,000,000 a year salary Matt Lauer.)
    musicians
    Rush Limbaugh
    Glenn Beck
    Bill Maher
    ad on and on and on
    whygo, I generally agree with your posts and actually agree with the tenor of your post, but have you seen Billy Corben's new movie Broke? It's about how 70% of NFL players go broke 3 years out of the league and NBA 60% 5 years out. He points out that the players actually do get taxed at the 30% or whatever it is you should get taxed at, whereas CEO's and other money hiders can get away with the whole "capital gains" thing and get taxed at 13%.
  • whygohomewhygohome Posts: 2,305
    RW81233 wrote:
    whygohome wrote:
    I have no problem raising taxes on millionaires, especially:

    celebrities
    reality TV "stars"
    professional athletes
    actors/actresses (isn't it weird to live in a country where an actor can make $10,000,000 for playing the role of a soldier in a film, but a real soldier on the front lines only makes an average of $50,000?)
    Cable News network hosts
    TV show hosts (I'm looking at you and your $17,000,000 a year salary Matt Lauer.)
    musicians
    Rush Limbaugh
    Glenn Beck
    Bill Maher
    ad on and on and on
    whygo, I generally agree with your posts and actually agree with the tenor of your post, but have you seen Billy Corben's new movie Broke? It's about how 70% of NFL players go broke 3 years out of the league and NBA 60% 5 years out. He points out that the players actually do get taxed at the 30% or whatever it is you should get taxed at, whereas CEO's and other money hiders can get away with the whole "capital gains" thing and get taxed at 13%.

    I've heard about it. And, of course, I've heard about some of these stories: Vince Young, Antoine Walker, and I think I just saw a headline where Michael Vick went through 20 million or so in the past 3 or 4 years.

    I don't feel bad for these guys, especially Vick...(people who abuse animals deserve.....)
    Athletes need to get better money managers/financial planners. 30% for income over $10 million is too low. if I lived on a graduate student's salary for so long, these guys can live off a Net Income of $400,000 a month.
  • RW81233RW81233 Posts: 2,393
    that's the problem their financial planners are usually lifesucking asshats, actually everyone in their lives are usually lifesucking asshats from the looks of the film. A vast majority of Athletes are small potatoes when it comes to being in the .1 percent. CEOs who are making 3-20 million per year for 20-30 years just by outsourcing labor and hiring and firing people are far more vile individuals in my opinion. Most athletes make all the money they will ever make between the ages of 21-25, and then that's it. Thus they get like 3 years of fun, and then live on graduate student salaries for the rest of their lives. You will live on a grad students salary for 3-10 years (depending on if you get your phd), and then gradually make money so that you are making between 50-200k per year between 42-60, hopefully have your school loans paid off, and a house paid off. Most NFL players are dead by then.
  • whygohomewhygohome Posts: 2,305
    RW81233 wrote:
    that's the problem their financial planners are usually lifesucking asshats, actually everyone in their lives are usually lifesucking asshats from the looks of the film. A vast majority of Athletes are small potatoes when it comes to being in the .1 percent. CEOs who are making 3-20 million per year for 20-30 years just by outsourcing labor and hiring and firing people are far more vile individuals in my opinion. Most athletes make all the money they will ever make between the ages of 21-25, and then that's it. Thus they get like 3 years of fun, and then live on graduate student salaries for the rest of their lives. You will live on a grad students salary for 3-10 years (depending on if you get your phd), and then gradually make money so that you are making between 50-200k per year between 42-60, hopefully have your school loans paid off, and a house paid off. Most NFL players are dead by then.

    Agree on all counts. Also, if an athlete has a 3 year career and makes 3 million dollars a year....that's still a substantial amount of money. It would take a soldier or high school teacher 120-180 years to make that.

    "CEOs who are making 3-20 million per year for 20-30 years just by outsourcing labor and hiring and firing people are far more vile individuals in my opinion." Jack Welch, anyone?
  • RW81233RW81233 Posts: 2,393
    just checked average nfl salary is 770k per year. Taxed at 30% you're look at around 1.5 million before agents, financial planners, plus fines for wearing your socks too high or low, weighing too much or little, hitting someone too hard or in the wrong spot, that probably ends up being a cool mill at best. As an assistant prof making 65k per year up to 100k (even more if I get into admin) by the time i'm done without the risk of injury, being taxed at 30 percent, or being told what and how to wear it I think I'd rather my job. As weird as it seems the athletes are the middle class in sports. The upper-class never gets seen or heard from really unless they are celebrity owners like Jere.

    How much longer you got with grad school? Should I send you an it gets better link ;)
  • whygohomewhygohome Posts: 2,305
    RW81233 wrote:
    just checked average nfl salary is 770k per year. Taxed at 30% you're look at around 1.5 million before agents, financial planners, plus fines for wearing your socks too high or low, weighing too much or little, hitting someone too hard or in the wrong spot, that probably ends up being a cool mill at best. As an assistant prof making 65k per year up to 100k (even more if I get into admin) by the time i'm done without the risk of injury, being taxed at 30 percent, or being told what and how to wear it I think I'd rather my job. As weird as it seems the athletes are the middle class in sports. The upper-class never gets seen or heard from really unless they are celebrity owners like Jere.

    How much longer you got with grad school? Should I send you an it gets better link ;)

    I'm definitely with you, dude; I'm focusing more on the highest earners though--$5 million, $10 million. They can still take home well over a million a year.

    I have my PhD and I am teaching at a university in upstate NY, but looking for a tenure track position. I've probably read every "it gets better" essay out there. :D
  • RW81233RW81233 Posts: 2,393
    whygohome wrote:
    RW81233 wrote:
    just checked average nfl salary is 770k per year. Taxed at 30% you're look at around 1.5 million before agents, financial planners, plus fines for wearing your socks too high or low, weighing too much or little, hitting someone too hard or in the wrong spot, that probably ends up being a cool mill at best. As an assistant prof making 65k per year up to 100k (even more if I get into admin) by the time i'm done without the risk of injury, being taxed at 30 percent, or being told what and how to wear it I think I'd rather my job. As weird as it seems the athletes are the middle class in sports. The upper-class never gets seen or heard from really unless they are celebrity owners like Jere.

    How much longer you got with grad school? Should I send you an it gets better link ;)

    I'm definitely with you, dude; I'm focusing more on the highest earners though--$5 million, $10 million. They can still take home well over a million a year.

    I have my PhD and I am teaching at a university in upstate NY, but looking for a tenure track position. I've probably read every "it gets better" essay out there. :D
    what University? what major? I went to Ithaca undergrad and had siblings go to Cortland and Oswego. I am TT at Towson University for Sport Management
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