Some people can't be saved

Jason P · July 2015

callen said:

Jason P said:
The other thing I predict is that people currently working at fast food joints will soon find themselves under-qualified as a more robust labor force sets forth due to the better pay.
Interesting point.

Maybe Better service for us and ultimately more revenue for businesses.

Possibly. I guess will shall soon find out, although I think I remember reading that the raise is parlayed in increments over four or five years before it is actually $15/hr

Gern Blansten · July 2015

"Some people"....come on folks. This is Fox News. Don't throw out the baby with the bath water.

How did the wage increase benefit those not included as "some people"? Critical thinking please.

Last-12-Exit · July 2015

Gern Blansten said:
"Some people"....come on folks. This is Fox News. Don't throw out the baby with the bath water.

How did the wage increase benefit those not included as "some people"? Critical thinking please.

Don't throw out the baby with the bath water?

I've never heard that before.

mookeywrench · July 2015

Observations: Tips are down, rents are up, small businesses are closing or relocating out of Seattle, public assistance unchanged.

Some are knee-jerk reactions, some are a mixed result of a stronger economy, but in the long-term, this $15.00 minimum wage is going to have no effect on it's intended purpose.

And to whoever said rich people will use every angle to decrease their taxes; I've worked with a range of clients who earn $20-30k a year and clients who earn $8m-10m a year. They all use every angle to decrease their taxes.

rgambs · July 2015

mookeywrench said:
Observations: Tips are down, rents are up, small businesses are closing or relocating out of Seattle, public assistance unchanged.

Some are knee-jerk reactions, some are a mixed result of a stronger economy, but in the long-term, this $15.00 minimum wage is going to have no effect on it's intended purpose.

And to whoever said rich people will use every angle to decrease their taxes; I've worked with a range of clients who earn $20-30k a year and clients who earn $8m-10m a year. They all use every angle to decrease their taxes.

It's true they all try to decrease their taxes, but it's also true that more money opens doors to actually making that happen.

Godfather. · July 2015

...there are actually people that want less money and less work and more government hand outs ?????? who'd a think'it ? everybody screams for a "liveable wage" or a "job" and then turn it down when they get it so they wont lose the government freebies, or the business forced to pay a higher wage pack it up and close the doors....generation after generations of familys learn how to use the welfare system and not work...this has affected our economy, driving up this countrys cost of doing business, well this is what you get when you make medical,money and housing available to people that claim they can't work or even easier come here ilegally and tap into the system, welcome to welfare America ! step right in ! our national debt is about $18 trillion and growing but who cares ?we'll just print up some money to pay for welfare abusers and ilegal (from all over the world) leaches
yeah that's it lets keep the gates of our borders open, send more printed money to other countries and we'll be just fine !

Godfather.

PJ_Soul · July 2015

Numbers please. I want to see how many people do this. Sounds like some people are making massive, uninformed, biased generalizations about this.

mookeywrench · July 2015

rgambs said:

mookeywrench said:
Observations: Tips are down, rents are up, small businesses are closing or relocating out of Seattle, public assistance unchanged.

Some are knee-jerk reactions, some are a mixed result of a stronger economy, but in the long-term, this $15.00 minimum wage is going to have no effect on it's intended purpose.

And to whoever said rich people will use every angle to decrease their taxes; I've worked with a range of clients who earn $20-30k a year and clients who earn $8m-10m a year. They all use every angle to decrease their taxes.
It's true they all try to decrease their taxes, but it's also true that more money opens doors to actually making that happen.

Just as earning more money closes doors to available credits and deductions. And saying 'actually making it happen' implies that only the wealthy are the ones who are having any success at lowering their tax bill, which isn't the case at all.

In fact, if you compare someone's effective tax rate pre-deductions and post-deductions, I'd be willing to bet, the vast majority of the time, the low and middle income earners will come out with a wider variance than the high income earners. Deductions can only take save you so much as the majority of them are not designed to save tax in direct proportion to one's income.

Gern Blansten · July 2015

mookeywrench said:
Observations: Tips are down, rents are up, small businesses are closing or relocating out of Seattle, public assistance unchanged.

Some are knee-jerk reactions, some are a mixed result of a stronger economy, but in the long-term, this $15.00 minimum wage is going to have no effect on it's intended purpose.

And to whoever said rich people will use every angle to decrease their taxes; I've worked with a range of clients who earn $20-30k a year and clients who earn $8m-10m a year. They all use every angle to decrease their taxes.

Yeah but the difference is that those making $20-$30K need all their money to eat...the rich have that covered X1000

rgambs · July 2015

mookeywrench said:

rgambs said:

mookeywrench said:
Observations: Tips are down, rents are up, small businesses are closing or relocating out of Seattle, public assistance unchanged.

Some are knee-jerk reactions, some are a mixed result of a stronger economy, but in the long-term, this $15.00 minimum wage is going to have no effect on it's intended purpose.

And to whoever said rich people will use every angle to decrease their taxes; I've worked with a range of clients who earn $20-30k a year and clients who earn $8m-10m a year. They all use every angle to decrease their taxes.
It's true they all try to decrease their taxes, but it's also true that more money opens doors to actually making that happen.
Just as earning more money closes doors to available credits and deductions. And saying 'actually making it happen' implies that only the wealthy are the ones who are having any success at lowering their tax bill, which isn't the case at all.

In fact, if you compare someone's effective tax rate pre-deductions and post-deductions, I'd be willing to bet, the vast majority of the time, the low and middle income earners will come out with a wider variance than the high income earners. Deductions can only take save you so much as the majority of them are not designed to save tax in direct proportion to one's income.

Deductions are the least sophisticated means of tax evasion though, and are not the problem. Tax havens, accounting tricks, favorable capital gains tax, those sorts of things are only available at higher income levels.

mookeywrench · July 2015

They're available to everyone

mookeywrench · July 2015

Gern Blansten said:

mookeywrench said:
Observations: Tips are down, rents are up, small businesses are closing or relocating out of Seattle, public assistance unchanged.

Some are knee-jerk reactions, some are a mixed result of a stronger economy, but in the long-term, this $15.00 minimum wage is going to have no effect on it's intended purpose.

And to whoever said rich people will use every angle to decrease their taxes; I've worked with a range of clients who earn $20-30k a year and clients who earn $8m-10m a year. They all use every angle to decrease their taxes.
Yeah but the difference is that those making $20-$30K need all their money to eat...the rich have that covered X1000

Tax savings is the argument, not cost of living.

rgambs · July 2015

mookeywrench said:
They're available to everyone

Please explain to me how a person who works an hourly payroll job is able to take advantage of the 15% capital gains tax without significant risk factors? Or how the same person is going to be able to hide money in an offshore account? How will that person shuffle profits in their S corp to lower their tax burden?

mookeywrench · July 2015

If someone invests in stock or receives stock based compensation with a portion of their income (like i did when i was in college and earning a whopping 10.00 an hour.) they will receive a 0% capital gains tax at their income level.

You can open up a foreign account with 1 buck, and you'd be below the threshold for disclosure of the bank account.

S-corp owners are still require to take a reasonable compensation. If an person is currently working an hourly wage, but has an business idea and wants to start their own S-Corp, all they have to do is file the paperwork with their state to do so. The initial license and application fee is a little over $100.

Gern Blansten · July 2015

mookeywrench said:
If someone invests in stock or receives stock based compensation with a portion of their income (like i did when i was in college and earning a whopping 10.00 an hour.) they will receive a 0% capital gains tax at their income level.

You can open up a foreign account with 1 buck, and you'd be below the threshold for disclosure of the bank account.

S-corp owners are still require to take a reasonable compensation. If an person is currently working an hourly wage, but has an business idea and wants to start their own S-Corp, all they have to do is file the paperwork with their state to do so. The initial license and application fee is a little over $100.

I think the point being made is that they have no ability to invest to make capital gains...they have no capital

mookeywrench · July 2015

Yes, they do. It's all a matter of setting up a budget.

When I was earning $10.00 an hour, i budgeted 3% of my income to apply towards investing...wallah...I just created capital for myself.

rr165892 · July 2015

Godfather. said:
...there are actually people that want less money and less work and more government hand outs ?????? who'd a think'it ? everybody screams for a "liveable wage" or a "job" and then turn it down when they get it so they wont lose the government freebies, or the business forced to pay a higher wage pack it up and close the doors....generation after generations of familys learn how to use the welfare system and not work...this has affected our economy, driving up this countrys cost of doing business, well this is what you get when you make medical,money and housing available to people that claim they can't work or even easier come here ilegally and tap into the system, welcome to welfare America ! step right in ! our national debt is about $18 trillion and growing but who cares ?we'll just print up some money to pay for welfare abusers and ilegal (from all over the world) leaches
yeah that's it lets keep the gates of our borders open, send more printed money to other countries and we'll be just fine !

Godfather.

Spot on GF

rr165892 · July 2015

rgambs said:

mookeywrench said:

rgambs said:

mookeywrench said:
Observations: Tips are down, rents are up, small businesses are closing or relocating out of Seattle, public assistance unchanged.

Some are knee-jerk reactions, some are a mixed result of a stronger economy, but in the long-term, this $15.00 minimum wage is going to have no effect on it's intended purpose.

And to whoever said rich people will use every angle to decrease their taxes; I've worked with a range of clients who earn $20-30k a year and clients who earn $8m-10m a year. They all use every angle to decrease their taxes.
It's true they all try to decrease their taxes, but it's also true that more money opens doors to actually making that happen.
Just as earning more money closes doors to available credits and deductions. And saying 'actually making it happen' implies that only the wealthy are the ones who are having any success at lowering their tax bill, which isn't the case at all.

In fact, if you compare someone's effective tax rate pre-deductions and post-deductions, I'd be willing to bet, the vast majority of the time, the low and middle income earners will come out with a wider variance than the high income earners. Deductions can only take save you so much as the majority of them are not designed to save tax in direct proportion to one's income.
Deductions are the least sophisticated means of tax evasion though, and are not the problem. Tax havens, accounting tricks, favorable capital gains tax, those sorts of things are only available at higher income levels.

How many low income families do you know with enough invested to actually be owing capital gains?

Gern Blansten · July 2015

mookeywrench said:
Yes, they do. It's all a matter of setting up a budget.

When I was earning $10.00 an hour, i budgeted 3% of my income to apply towards investing...wallah...I just created capital for myself.

oh so because YOU were able to do that everyone is....got it

rr165892 · July 2015

PJ_Soul said:
Numbers please. I want to see how many people do this. Sounds like some people are making massive, uninformed, biased generalizations about this.

Really PJ.The system is abused.Entitlements are out of control.Want to reign things in?We need drug testing and mandatory contraception for all people on assistance.imo
Keep having kids,blowing off work to continue to milk the govt teet,Use your food card for booze,lottery tix and drugs.awesome.

Some people can't be saved

Comments

Categories