POTUS 45.42: Who Needs Tax Increases? If You're Rich Just Write A Check.

[FadeToBlack&Gold]

Does Trump have the million dollars to give? Fred isn't around to bail him out anymore.

He has it, but I'll bet it's not in cash or highly liquid assets.

 

[St. Clown]

Re: POTUS 45.42: Who Needs Tax Increases? If You're Rich Just Write A Check.

don't buy that. you have no taxes on first 200k on income you have cash to cover that tax on the van gogh in your hallway. controlled taxes to fund directed national healthcare. controlled taxes to pay for and fund social security. anyone no longer paying 25% on income gonna ***** about 5% wealth can go live on a commune.

Home ownership will go into the tank as everybody starts to rent their dwellings, offloading their former houses to corporate investors.

Your tax structure would drastically raise my current taxes owed.

 

[mookie1995]

Re: POTUS 45.42: Who Needs Tax Increases? If You're Rich Just Write A Check.

flat taxes are a bad idea. Due to the diminishing marginal utility of money, a flat tax "harms" lower income people more than it harms high income people. A progressive tax structure is the most "fair".

mookie's twiggy tax doesn't harm po' folks.

first 200k in income is exempt.
200,001st $ earns get the twiggy.

 

[The Rube]

Re: POTUS 45.42: Who Needs Tax Increases? If You're Rich Just Write A Check.

flat taxes are a bad idea. Due to the diminishing marginal utility of money, a flat tax "harms" lower income people more than it harms high income people. A progressive tax structure is the most "fair".

And this is why I'm not committed to a flat tax, I am only open to hearing the pros and cons. I won't simply dismiss it, nor simply accept it. I don't like the idea that if I work my butt off to get more money, all of a sudden I have to pay a bigger % because I can afford to. That doesn't sit well with me. In my eyes, it actually encourages me to make juuuuusssst enough to not jump to the next tax bracket, or to find write-offs and loopholes to pay less taxes.

 

[mookie1995]

Re: POTUS 45.42: Who Needs Tax Increases? If You're Rich Just Write A Check.

Home ownership will go into the tank as everybody starts to rent their dwellings, offloading their former houses to corporate investors.

Your tax structure would drastically raise my current taxes owed.

you don't pay property tax now? your house is 400k? that's 20k. your first 200k in income isn't taxed. that smells like you making out clown!

 

[BassAle]

Re: POTUS 45.42: Who Needs Tax Increases? If You're Rich Just Write A Check.

you don't pay property tax now? your house is 400k? that's 20k. your first 200k in income isn't taxed. that smells like you making out clown!

My house is valued at $420K and I pay $4500/yr in property tax

 

[mookie1995]

Re: POTUS 45.42: Who Needs Tax Increases? If You're Rich Just Write A Check.

And this is why I'm not committed to a flat tax, I am only open to hearing the pros and cons. I won't simply dismiss it, nor simply accept it. I don't like the idea that if I work my butt off to get more money, all of a sudden I have to pay a bigger % because I can afford to. That doesn't sit well with me. In my eyes, it actually encourages me to make juuuuusssst enough to not jump to the next tax bracket, or to find write-offs and loopholes to pay less taxes.

didn't realize the fork paid 7 figures

 

[BassAle]

Re: POTUS 45.42: Who Needs Tax Increases? If You're Rich Just Write A Check.

it actually encourages me to make juuuuusssst enough to not jump to the next tax bracket,

tax rates are marginal though, so you only pay the higher rate on income above the threshold for the higher bracket. You're still costing yourself money by intentionally keeping your income below the threshold

 

[St. Clown]

Re: POTUS 45.42: Who Needs Tax Increases? If You're Rich Just Write A Check.

you don't pay property tax now? your house is 400k? that's 20k. your first 200k in income isn't taxed. that smells like you making out clown!

Taxes paid on my house, add in my retirement, short-term savings, and my checking accounts, and we're getting into some serious cash. Then the state and local entities will take their cuts in taxes. You're significantly increasing the taxes on pretty much anybody who's more than a few years removed from college.

 

[mookie1995]

Re: POTUS 45.42: Who Needs Tax Increases? If You're Rich Just Write A Check.

My house is valued at $420K and I pay $4500/yr in property tax

super rich

prolly own half of hancock county

 

[unofan]

You do realize he was speaking very specifically about "A tax upon house-rents" and NOT taxes in general?

And yet it applies equally well to both.

 

[mookie1995]

Re: POTUS 45.42: Who Needs Tax Increases? If You're Rich Just Write A Check.

Taxes paid on my house, add in my retirement, short-term savings, and my checking accounts, and we're getting into some serious cash. Then the state and local entities will take their cuts in taxes. You're significantly increasing the taxes on pretty much anybody who's more than a few years removed from college.

country has debts to pay. tough. when the bill comes monthly, you cut a check.

prolly have a side benefit too and reterd the crazy price increases of housing. lessen yer tax bill

 

[5mn_Major]

Re: POTUS 45.42: Who Needs Tax Increases? If You're Rich Just Write A Check.

Problem is true consertivism died when it hopped in bed with the Christian Shariists and their Jesus fetish.

Your'e so wrong.

The death of classical conservatism came down to tribal politics, Rush Limbaugh and fear.

 

[BassAle]

Re: POTUS 45.42: Who Needs Tax Increases? If You're Rich Just Write A Check.

super rich

prolly own half of hancock county

lol. The guy "across the street" (I can only see his driveway, its a 30 acre oceanfront compound completely hidden from the road by woods) from me pays something like $60-70K in property taxes. Multiple buildings. Hedge fund manager from NYC, uses it a couple weeks in the summer. I'd be okay if you tax 5% of his wealth every year

 

[unofan]

And this is why I'm not committed to a flat tax, I am only open to hearing the pros and cons. I won't simply dismiss it, nor simply accept it. I don't like the idea that if I work my butt off to get more money, all of a sudden I have to pay a bigger % because I can afford to. That doesn't sit well with me. In my eyes, it actually encourages me to make juuuuusssst enough to not jump to the next tax bracket, or to find write-offs and loopholes to pay less taxes.

You only pay a bigger percentage on the extra dollars earned. Or do you not understand the concept of marginal tax brackets?

 

[FadeToBlack&Gold]

Re: POTUS 45.42: Who Needs Tax Increases? If You're Rich Just Write A Check.

At any rate, good job by Warren to try and score a cheap political point, thereby making her the media focus for the next week, instead of issues that are actually important.

 

[Handyman]

And this is why I'm not committed to a flat tax, I am only open to hearing the pros and cons. I won't simply dismiss it, nor simply accept it. I don't like the idea that if I work my butt off to get more money, all of a sudden I have to pay a bigger % because I can afford to. That doesn't sit well with me. In my eyes, it actually encourages me to make juuuuusssst enough to not jump to the next tax bracket, or to find write-offs and loopholes to pay less taxes.

I paid my taxes when my salary doubled. It hurt a bit but the benefits far outweigh the strain on my pocketbook. Why shouldn't I if I can afford it?

Someone needs to pay them...if I make 20k more than someone else I should pay more. I am better able to shoulder that burden.

It isn't like most people want to go back to Eisenhower times (except socially if you are a MAGAyte) but there is no reason someone making twice as much as a teacher (or more) should pay the same rate as a teacher. (or less). That will lead you to financial ruin.

 

[The Rube]

Re: POTUS 45.42: Who Needs Tax Increases? If You're Rich Just Write A Check.

At any rate, good job by Warren to try and score a cheap political point, thereby making her the media focus for the next week, instead of issues that are actually important.

Eh, I wouldn't blame her too much. Trump has been doing that since the elec-- since he started campai-- since forever.

She finally called Trump's bluff. *shrug* yay politics, I guess.

 

[Handyman]

tax rates are marginal though, so you only pay the higher rate on income above the threshold for the higher bracket. You're still costing yourself money by intentionally keeping your income below the threshold

Bingo. Anyone who took econ in college knows this. Problem is most people ignore it cause they refuse to do more than read headlines.

 

[The Rube]

Re: POTUS 45.42: Who Needs Tax Increases? If You're Rich Just Write A Check.

I paid my taxes when my salary doubled. It hurt a bit but the benefits far outweigh the strain on my pocketbook. Why shouldn't I if I can afford it?

Someone needs to pay them...if I make 20k more than someone else I should pay more. I am better able to shoulder that burden.

It isn't like most people want to go back to Eisenhower times (except socially if you are a MAGAyte) but there is no reason someone making twice as much as a teacher (or more) should pay the same rate as a teacher. (or less). That will lead you to financial ruin.

If you're making 20K more, you are paying more in taxes, progressive or not.