From yesterday's Wall Street Journal:President Barack Obama on Thursday will propose $634 billion in new taxes on upper-income Americans and cuts in government spending over the next decade to pay for his promised health-care expansion. ...
The tax increases would raise an estimated $318 billion over 10 years by reducing the value of such longstanding deductions as mortgage interest and charitable contributions for people in the highest tax brackets. Households paying income taxes at the 33% and 35% rates can currently claim deductions at those rates. Under the Obama proposal, they could deduct only 28% of the value of those payments.
The changes would be phased in gradually over the next few years. For the 2009 tax year, the 33% tax bracket starts with couples with taxable earnings of $208,850, when adjusted for personal exemptions and various deductible expenses. A taxpayer in the top bracket paying $1,000 of mortgage interest, for example, would see a tax break worth $350 reduced to $280.
It sounds like a good time for the wealthy to cut back on their charitable contributions.
From yesterday's Wall Street Journal:
Posts
you vote for tax increases, you get tax increases.
ReplyDeleteHalilulia!!
ReplyDeleteFinally a politician who says what he means and means what he says. And is not afraid of of our gilded aristocracy!
The correct spelling is: Hallelujah...we hardly have a "guilded aristocracy" in America. The income bracket he is going to heavily tax begins with a household income of around $200,000 a year. And that would be a family with 2 working adults, hardly the income of an aristocracy. These are small business owners who are working to provide jobs and keep the economy moving. I know several blue collar workers, plumbers, mechanics, etc. who make this in a year and are not living the "high" life. Why do we want to punish people who are hard working Americans???
ReplyDeleteAnonymous said...
ReplyDeleteI know several blue collar workers, plumbers, mechanics, etc. who make this in a year and are not living the "high" life.
Plumbers making $250K+? Really? Please don't confuse profits and revenues the way Barack Obama and Joe the Plumber did.
By 2005 Census Bureau statistics this would effect ~2.5% of households. I'm sure that a lot of plumbers will get by just fine. I have a PhD and a great science job (you know, the type of jobs we are supposed to be aiming for) and I can tell you I am not even close to having this effect me.
ReplyDeleteWhat it may do though is begin to change attitudes to home ownership that are long overdue.
Hooray for Obama, at least chipping away at this stupid tax break.
I'm not a plumber, and I make $200,000 a year and live in Los Angeles with my husband.
ReplyDeleteWe rent.
And houses are still not affordable.
The "guilded aristocracy" is not those making the money. It's those who stay in the houses they can't afford and are taking mine! The "guilded aristocracy" are those who are too good to rent (just like all the rest of us fiscally responsible common folk --- wait am I the only one?).
you are not the only one. i rent too and obama's plans are just horrible. he's propping up house values that should fall so i can buy. he's propping up failed bankers who are standing in the way of successful bankers who actually know how to lend to creditworthy people like me on reasonable terms. and now he's raising the cost of homeownership for me right at the time that some sane renters might decide to consider buying. sheer genius.
ReplyDeleteThe mortgage interest deduction has been distorting housing prices for decades but it is politically infeasible to get rid of it. I think the plan here is to start chipping away at it on the high end and then not indexing it to inflation so that over time it will affect more and more houses. This is genius and very much needed to bring some sanity to housing in the future.
ReplyDeleteIt's amazing to think there could be a logical discusion about our tax code...what's deductible...who should pay more...the rich are the bad guys, when none of us including the people who write the laws understand it!! Please go to Fairtax.org and see how we should be taxed...on what we spend not on what we earn. Everybody,visitors,illegals people doing "side jobs under the table" and even the criminals pay the same. Seems fair to me! wouldn't it be great to take home your whole paycheck? Then you can decide how much tax you want to pay and when you want to pay it...maybe people wouldn't be behind on their mortgages if they had that extra $300 or $400 bucks on their paycheck a week. Believe me learn more about the Fairtax and you'll agree this is the easiest and fairest way to fund our government. Fairtax.org
ReplyDeleteRichie,
ReplyDeleteWith our progressive income tax system, the richest 5% of the population pays something like 60% of all taxes. And something like 25% pay no income tax at all. (I just heard this on the radio yesterday.) What you are proposing is essentially a regressive tax system since the poorer you are the more of your income you have to spend (and the less you have "left over" to save.) This would turn things upside down to where it would now be something like the poorest 60% of the population paying 95% of all taxes. Not a smart move ...
Lance,
ReplyDeleteAs usual the lefties have no clue how the economy really works. I am a contractor. I build alot of second homes. Most of my clients fit into the mortgage interest tax category. If they are not getting these deductions,many may not commit. Ok fine, I know most people could give a rats !!!!!. that the rich have a 2nd home. But construction jobs will be decimated in areas like mine.
Housing is huge. These jobs are important for the working man, my employees. The average guy. Wake up everyone!!!!
I must inform everyone how the housing market will react to Obahma's plan. I was watching Bill Maher and his usual panel of idiots. They praised how removing the interest tax credit was good. They stated how renters do not get any breaks. Well Bill, we do pay taxes on our real estate. Those taxes pay for our community schools and projects. Renters dont pay a damn cent. Now to get back on subject. Real estate owners/investors will have to raise their rents to cover costs. So all renters, both rich, as well as the poor people who Obama and the democrats so dearly love. Ha! Are getting porked with the rest of us. Enjoy!!!!
ReplyDelete"If they are not getting these deductions,many may not commit."
ReplyDeleteNonsense. The rich feel they are entitled to things like second homes. Once you reach the point where you make way more money than you need to live, you buy nonsense. Expensive luxury cars and second homes will most likely be the only cars and homes built during these hard times.
"Well Bill, we do pay taxes on our real estate. Those taxes pay for our community schools and projects. Renters dont pay a damn cent."
ReplyDeleteLast time I checked, you get to reduce your income tax cause you have a mortgage and dependents. Its pretty easy to pay community tax when you practically pay no income tax.
What the Hell? Of course renters pay real estate taxes, just because they dont write a check to the city does not mean the landlord does not pay or that it is just a gift to their tenants.
ReplyDeleteAnd most sensible people do care about the loss of construction jobs; they think it is terrific. The last thing we need is more houses.
WOW!
ReplyDeleteThis is what I meant that we could not have a logical discussion about our taxing system as it is currently structured. For some reason people think that anyone who makes more money than them is "RICH" and should pay more taxes... I just don"t understand that way of thinking, it isn't healthy.
Again please go to FairTax.org or to YouTube and type in "FairTax" and view Neil Boortz, John Stossel and better yet Mike Huckabee, his "What is the FairTax" is great. I have to believe after you do some research into the FairTax you will agree that it is just that,Fair.
2 working adults in this house, one with a Master's, one 3 courses away from a Master's, $97,500 in 2008. Do not kid yourself into thinking that most families are making 200 grand. It is simply not the truth.
ReplyDeleteI am amazed that the left will continue to bash people who make money. The anonymous writer says the $200,000 family income has plenty of money. They will surely build and buy 2nd homes. The have the nice cars and conviences of being rich and they will be the only ones purchasing and buying during these times. Listen to your comments. We need the rich to spend. We need the rich to keep our economy going. Does cutting their money and giving it to the poor make sense. Let them spend their money. Let them create jobs. I have been on both sides of the $250,000 family income. I am a small business owner. I know what it feels like to pay $100,000 in taxes in a year. I did't get any extras from uncle sam when I paid that money. I am not going to be affected by Obamas plan. But my god, listen to yourselves. You want one person to pay for another. Where are you principles. I was a poor kid from a divorced family. I scratched myself out of that hole. This lack of work ethic. Wanting the goverment to give you more and more is absurd. Would you give your child an allowance. Then have them cry to you that rich Johnny just got a new bike and they wanted more money so they could buy that bike, and have them cry and cry that they needed that bike and you need to give them that money. If they wanted extra money. The leaves would be raked and the fence needs painting. These are the principles that america has lost.
ReplyDeleteIm for the fair tax. This is the way america should go.
freedom of speech -- OK. freedom of religion -- OK.
ReplyDeleteOtherwise, good-bye America. My wife and I are on the brink of BHO's rich tax.
We are plaing rock, paper, scissor to see who gets to stop working and start goofing off.
It doesn't pay to work hard.
God help us all.
Hmmm, so you will cut your income in half to avoid paying a fraction more in tax? Yeah, really smart.
ReplyDelete"But my god, listen to yourselves. You want one person to pay for another. Where are you principles. I was a poor kid from a divorced family."
ReplyDeleteLook kid from a divorced family (note:60% of divorced rate in the US, you are nothing special),
The US has one of the highest taxes out of all countries in the world, yet we have the least amount of benefit. The real problem isnt who we tax and how we tax them, its how the taxes are used....but thats another story.
Anyway, in a country such as ours, everyone deserves a free education, health care and a save environment. We arent talking about taking money out of rich peoples pockets and handing cash to poor people to buy a new car. (although, that might help ford/GM and the other piece of crap american auto makers)
Most of the changes for the top bracket return to the policies of the 90s, when the top marginal income tax rate was 39 percent vs. 35 percent. That is only paid on the last dollar, on on the entire salary, of course.
ReplyDeleteLast I checked, the economy did not collapse in the 90s.
I agree with the poster who said that the current mortgage interest deduction is a distortion of the housing market. I think it would be better to eliminate it entirely, but since that's not feasible, reducing its applicability at the top end is consistent with our 100-year tradition of progressive taxation (starting with the estate tax, and then adding the income tax)
I was talking to a business owner last week with 45 employees. He said, 'Paying taxes means you're making money.' I think that kind of attitude is better for our mental health.
To the poster who wrote "Anyway, in a country such as ours, everyone deserves a free education, health care and a save environment"
ReplyDeleteFree? How would it be "free"? You of course mean free to you? In other words, you want someone else to pay for it so you can get it for free? If you want something badly enough why don't you go out and "earn" it?
"Anyway, in a country such as ours, everyone deserves a free education, health care and a save environment."
ReplyDeleteI so completely disagree with this. I put myself through school and while it took me till I was 30 to pay it off I did it on my own. People that do not think this is possible are just lazy in my opinion.
Why stop at health care and an education. Why not a house, because people need a place to live right? Why not throw in a car while were at it because people have to get to work. Utilities, sure let other people pay for that too, how are you supposed to wash your dishes, shower, or run any of your appliances without it.
"I so completely disagree with this. I put myself through school and while it took me till I was 30 to pay it off I did it on my own. People that do not think this is possible are just lazy in my opinion."
ReplyDeleteIm still paying my student loans. Again, you are nothing special. I didnt say it wasnt possible pay for your education. Im saying with the amount of taxes we pay, we should have a free education, not an Iraq war.
"Why stop at health care and an education. Why not a house, because people need a place to live right?"
why not tax us double and still not get benefits....why dont we go to war with 7 other middle eastern countries with no cause or reason?
Again, Im not talking about who we tax, but how its spent. Take away the bailouts and the Iraq war and everyone probably COULD have had a free house.
There you go again using the word "free". NOTHING is free! Paying for something with your tax dollars and then having the government buy it for you is not free! You have paid for it. In fact, you have likely paid more than the service is actually worth after running it through our governments bureaucracy. The only way you can get something for free is if SOMEONE ELSE pays for it for you. This country was built on personal responsibility. I suggest everyone pay for their own "entitlements".
ReplyDelete"There you go again using the word "free". NOTHING is free! Paying for something with your tax dollars and then having the government buy it for you is not free! You have paid for it."
ReplyDeleteWho are you talking to? He said that we pay the highest taxes out of any country and get no benefits from it. Instead we fund wars in the middle east and bail out walstreet.
Personally I would rather get an education or health care out of my taxes than a failed useless war in Iraq. You are pretty dense, I highly doubt you went to college, much less paid for it yourself.
"I suggest everyone pay for their own "entitlements"."
ReplyDeleteLets start with taking my taxes paying to keep your streets paved, and your kids going to public school. etc(I dont have kids, why should I have to pay for YOURS!!! Pay for your own kids education)
Taxes are supposed to pay for the greater good you dolt.
"The only way you can get something for free is if SOMEONE ELSE pays for it for you."
So now you understand how higher taxes for the filthy rich work!!! you tax the billionaires just a bit more so that thousands of uneducated people living in the ghettos can get an education to dig themselves out of poverty! They get something for free, and later pay taxes they never would have to help others get something for free....
kinda like how your children get a free education on my taxes or how your streets stay potholeless for free from my taxes. etc
"Personally I would rather get an education or health care out of my taxes than a failed useless war in Iraq."
ReplyDeleteGood for you. Personally, I'd rather keep my tax dollars than have you waste it on your "free" things for society. I pay plenty already and enough is enough.
"So now you understand how higher taxes for the filthy rich work!!!"
Thank you for making my point so clearly. It is obvious you hate the rich. You are for income redistribution. You want to take from them for your own benefit. You don't need to say anymore.
I have been a business owner for forty years and all this makes me sick. I have spent a lifetime trying to achieve my personal goals with my own blood, sweat and tears.. I have spent countless 80hr. weeks giving 100% of my time and effort to my business and those I employ. For anyone to step in and turn my personal dream upside down is just ludicrous. I paid appx. $95,000 in income tax last year and yes when I filed my taxes I'll get a $6,800. refund because of my mortgage interest which means I still paid $88,600. in taxes and another $12,000 in property taxes. I contribute dearly to our society and yet this insane new president wants to strip that away, and give it to those who prefer not to work so hard. Where is the logic in this? If this passes then I as a business owner will cut back on providing health care benefits to my employees and their families. Plus I'll eliminate a few jobs along the way. I am a classic example of the enemy of the poor because they think my wealth should be rightfully theirs and I pity them and our country's future.
ReplyDeleteI am not a Plumber but I am a Heating and Air Conditioning Contractor that does close to 7 million in sales a year. I make well over $200,000.00 a year. I have several friends who are Plumbers and they make well over $200,000.00 a year. Please loose this dillusion that Plumbers are poor. I have 35 employess and they all make a reasonable salary for the work they do. They have good benefits to go along with working for a company that is well established. While some of you were trying to get all that free stuff and going to school for 25 years I was working. I have a nice home on 9 acres of land and a place on the ocean as a second home. I own quiet a bit of rental property also. Nobody gave me any of this. I feel I have contributed to a lot of peoples lifes. Several of my competitors used to work for me. They learned the trade from me and now have a companys of their own.America will get through this but not without learning some lessons. I hate to watch it, not for my sake but for my Children and Grand Childrens sake.
ReplyDelete"and give it to those who prefer not to work so hard. Where is the logic in this?"
ReplyDeleteThats your delusion. You equate hard work with success or making money. Its just not true. Success comes from opportunities that have been taken.
Im willing to bet the grunt workers in your business do more hard work than you do, yet your salary is much higher.There are a lot of poor ditch diggers than bust ass more than all your employees combined.
Hard work is an ingredient for success, but the real meat and potatoes is opportunity.
"Im willing to bet the grunt workers in your business do more hard work than you do, yet your salary is much higher.There are a lot of poor ditch diggers than bust ass more than all your employees combined."
ReplyDeleteWhat's your point? His point is simple...he does not want to work hard and then have his money taken away and given to someone who was not willing or able to achieve what he has achieved. Simple!
The "grunt workers" as you call them are not being asked to take their hard earned money and give it to anyone. That's the difference between the two cases. This country has always rewarded hard work, ingenuity, and risk. I, for one, hope and pray that does not change.
"Im willing to bet the grunt workers in your business do more hard work than you do, yet your salary is much higher.There are a lot of poor ditch diggers than bust ass more than all your employees combined."
ReplyDeleteOK, that's a reasonable argument, my hard work and my employees hard work go to pay for those poor ditch digger entitlements? That's socialism at it's core. Your response was total disillusionment.
"Anyway, in a country such as ours, everyone deserves a free education, health care and a save environment."
ReplyDeleteHow do you come up with such a crazy statement?
Please explain to me how these items became a right under the constitution, or even a perceived human right?
All humans have a need for the following (to live): Food, Water, Shelter, Heat, Clothing, and in any type of civilization a means to wealth (make money).
None of these are considered fundamental rights, just needs. Now, food, water, and heat (fire) are fairly simple so I will not go there. Shelter is one that does not mean a house - it could be a cardboard box but this is something that we can debate AND WOULD BE APPROPRIATE FOR THIS BLOG. Education, at least through High School is provided by the state and if you apply yourself anyone can take that to a means of wealth (earning a living). So if that is what you mean by education - Done! If you mean higher education, such as a university then you have problems because not everyone needs or has the capability for that education. Look at France, everyone can go to the University but most of them graduate citizens that cannot produce anything of market value. Moreover, only 25 to 27 percent of the US is college educated. How many of these individuals are struggling to get by just as non-college educated citizens are today?
Last but not least, saving the environment – nobody is against clean air, water, or having a planet in the future. But the only viable solutions are global, and until China, India, and the rest of the world is ready to deal with the challenge this proposed solution does nothing to save the world. In fact, it could push more jobs and economic activity to those countries that don’t care about the environment.
I will admit that Obama has started an interesting debate, but if the Democrats pursue it with the vigor that they did on the stimulus/pork bill they will not keep it long. Unless our government education system and Universities keep graduating idiots as citizens, then maybe we will finally kill the American experiment.
It is certainly interesting to know that my efforts to cure cancer (requiring a PhD and hence extra years of education) are so valueless. Maybe I should be building homes nobody wants instead.
ReplyDelete"OK, that's a reasonable argument, my hard work and my employees hard work go to pay for those poor ditch digger entitlements? That's socialism at it's core."
ReplyDeleteYou dont work hard. You watch over people who work hard. Yes, the $200K you make working your employees to death should cover their kids college education. One day their kids will be paying taxes on your social security check.
You are the one disillusioned.
""Anyway, in a country such as ours, everyone deserves a free education, health care and a save environment."
ReplyDeleteHow do you come up with such a crazy statement?"
Being that its already done in other nations that have less taxes. We spend all out money invading Iraq or bailing out wallstreet instead.
"The "grunt workers" as you call them are not being asked to take their hard earned money and give it to anyone. "
ReplyDeleteWho are you kidding? What is being done with their taxes? Given back to them???? No? It went to Iraq, wall street, and now also to the "home owners" (should be called underwater mortgage owner)
Did I mention that 70-80% of the people I work with are non-American? Why? Because the American education system is so underfunded and demoralized it is incapable of producing applicants with the necessary skills to do the jobs we have open. Maybe this is not important to you. Maybe this sort of "fancy book lurnin" is irrelevant in your vision of america.
ReplyDeleteWhile it is certainly true that children need their own initiative; I do not see why providing opportunities to those that currently do not have them is such a problem.
"You dont work hard. You watch over people who work hard. Yes, the $200K you make working your employees to death should cover their kids college education. One day their kids will be paying taxes on your social security check."
ReplyDeleteYou are an idiot. You have no clue how hard I work. I work much harder than my employees do. You sound just like all the other complainers. Give me something for nothing because you owe it to me. Well dude wake up, I don't owe you squat. What you get in life, is what you put into life. Sounds to me that all you put into life is nagging.
Adam said...
ReplyDelete"the American education system is so underfunded and demoralized it is incapable of producing applicants with the necessary skills to do the jobs we have open."
On the whole, the American public education system gets plenty of money. (Inner-city schools are an exception.) The problem is that we have a public school monopoly. Based on where you live, you have a choice of one school and one school only. If that school doesn't meet your children's needs, then tough. We would get far more bang for the buck if we had school choice at the elementary and secondary level. We effectively have school choice at the college level, and America's college system is considered the best in the world.
Okay Gang,
ReplyDeleteLet me try to explain our tax system in Beer!
Suppose that everyday, ten men go out for beer and the bill for all comes to $100. If they paid the bill the way we pay our taxes, it would go something like this...
The first four men ( the poorest) would pay nothing.
The fifth would pay $1
The sixth would pay $3
The seventh would pay $7
The eighth would pay $12
The ninth would pay $18
The tenth (the richest)would pay $59
So that's what they decided to do. The ten men drank in the bar everyday and seemed quite happy with the arrangement, until the bar owner threw them a curve."Since you all are such good customers, I'm going to reduce the cost of your daily beer by $20." he said. Drinks would now cost just $80. The group still wanted to pay their bill the way we pay our taxes, so the first four were unaffected. They would drink for free. What about the other six men-the paying customers? How could they divide the $20 windfall so that everyone would get his "fair share?" They realized that $20 divided by six is $3.33. But if they subtracted that from everybody's share, then the fifth and sixth men would get paid to drink.The bar owner suggested to be fair they should reduce each man's bill by roughly the same amount,then did the math.
So now the fifth man,like the first four paid nothing (100% savings)
The sixth now paid $2 instead of $3 (33% savings)
The seventh now paid $5 not $7 (28%) savings
The eighth now paid $9 not $12 (25% savings)
The ninth now paid $14 instead of$18 (22% savings)
The tenth now paid $49 instead of $59 (16% savings)
Each of the men were better off than before. The first four continued to drink for free. But once outside the bar they began to compare savings. "I only got a dollar out of the $20" declared the sixth man. Then pointed to the tenth man "but he got $10!"
"Yeah, that's right I only saved a dollar too!" yelled the fifth man.
"It' unfair he got ten times more than me!" The seventh man shouted "Why should he get $10 when I only got two?" "The wealthy get all the breaks" Together the first four men yelled "We didn't get anything at all! The system exploits the poor!"
The nine men surrounded the tenth and beat him up! The next night the tenth man didn't show up for beers,so the nine sat down and drank without him. But when the bill came they discovered something important...they didn't have enough money between all of them for even half the bill!!!
This is how our tax system works,the people who pay the highest taxes get the most benefit from a tax deduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore.
This is from David R. Kamerschen,Ph.D. Professor of Economics university of Georgia
It's time to change our tax system. Just look at how it creates this class envy! The "FairTax" eliminates that entirely.
The example is cute but very flawed. It hinges on where the analogy goes with the rich guy not showing up and how much say the rich guy actually has in the group. What happened to him? Did he say,"I'm sick of paying the bill. I'm now going to live in poverty"? No, of course not, he has a lifestyle outside of the bar that he would wish to continue. Did he move somewhere else? Possible but anywhere like america is probably going to charge him more and pay him less so that does not work. Moving anywhere else could involve stopping any futher income and living off what he already has. While this may be a possibility, I do not see many people doing it. The assumtion is that the rich guy is a working, contributing member of society and needs to continue to work to maintain his lifestyle, not just a rich bum living of inheritance. (Or are we really pushing for a Paris Hilton tax break?) In general this is just pathetic whining from Republicans, like the Democrats whining they were going to move to Canada under Bush.
ReplyDeleteThat the analogy used violence at the end is perhaps misleading too. What is to stop the 9 other guys just taking the rich guys wallet at the beginning? Answer because they have agreed to let the guy make the money in the first place, he has the opportunity to be considerably richer than the others as long as he pays what they feel is fair. He does not get to decide what is fair, society does and in this case that is the other 9 guys, he may have a voice in this but only 1/10. I think his false assumption is that because he pays more he has more say. Isn't this the opposite of democracy? Does the rich guy hate democracy? Up to now he has probably been more influential because 5 of the 9 probably believed on day they could be as rich as him and so did not want to rock the boat. But with presumably at least one of those 9 now laid off and the others worried that expectation is eroded. Surely a better way would be to reduce the disparity in original incomes that way everyone pays similar share under any system. If anyone has a good idea for this I'd like to hear it. The "Fair" Tax taxes consumption so is biased towards though that consume less. Again it returns to getting the majority to vote for a system that mainly benefits a rich minority.
This is even more ridiculous because the tax break we are talking about is a contributer to the housing mess we are now all in. So getting rid of it completely or chipping it away seems like it would actually be a good idea for everyone.
As for schools: I'm not sure about extra choice at all. It seems to me that the parents that are clued in enough to move their kids around are probably not going to let them fail anyway(at least statistically) so it does not really address the problem. I dont actually have any answers, expect that all current plans work on a political timeframe not a childs development. So plans are changed and scrapped for political gain before they have been fully implimented. So teacher never get the familiarity of repetition with their sylabus and kids do not get into a regular mode of learning. Really to say anything is good or bad you have to demonstrate it from K-12. A bit here and a bit there just holds kids back. One positive this I heard from Obama was a push for greater parental responsibility and involvement which is sadly lacking in general. Particularly in action, most parents want their kids to get a good education but show no value in it themselves. Take "anonymous the plumber" above. I'm certain he wants his grandchildren to go to college (and not just any college) and in the same breath complains about how people with education have had a free ride not paying taxes like he did.
For the many that fall within 100K plus of this arbitrary number, it is time to start working less and enjoying life more.
ReplyDeleteFor those koolaid drinkers who think it is okay to punish achievement like Obama the Magnificent wants to, I ask, When is the last time you got a job from a poor person?
ReplyDelete"For the many that fall within 100K plus of this arbitrary number, it is time to start working less and enjoying life more.
ReplyDeleteMarch 06, 2009 1:00 PM"
That is a pretty interesting statement. Does your income really directly correlate to the time you spend doing it? Most people I know earning $200k+ are not paid by the hour. But yes I think if you are at the point where you are earning that much money you probably would be happier spending more time having fun. I know a few extra thousand a year would not be worth the chance of more time with my wife and kids.
"For those koolaid drinkers who think it is okay to punish achievement like Obama the Magnificent wants to, I ask, When is the last time you got a job from a poor person?
March 08, 2009 1:00 AM"
Does not matter. A bunch of poor people got together and decided that they wanted more opportunities. They decided they wanted the rich guy to pay for it. That is Democracy. Time will tell the wisdom of it but you would have a much easier time persuading lower taxes if there were fewer poor people in general.
Better yet, who would want to work for a poor boss in the first place?
ReplyDelete"A bunch of poor people got together and decided that they wanted more opportunities. They decided they wanted the rich guy to pay for it. That is Democracy."
ReplyDeleteNo my friend....that is called robbery. What if they got together and decided to kill someone...is that democracy?
Here's the harsh reality, so deal with it.
ReplyDeleteAll men are NOT created equal. Some are smarter. Some are better looking. Some have larger genitalia. Some have more talent.
Generally speaking, people with God given talent or other attributes are able to acquire more wealth than those who are less talented than others.
Tiger Woods, Bill Gates, Michael Jordan, & Oprah.
These folks are all pretty rich, right? We pay money to watch them and use their products and the products they endorse.
If we take more and more from them, they will charge more and more for their services. Their charges will be built into the price of the products they sell.
Why? Because they're smarter, better looking and more talented than the general population. They will always, always, always be rich. If you try to take it from them, they'll outsmart you, keep it and charge you even more for it.
So deal with that reality and quit electing idiot politicians who say they're going to take it away from them to help YOU! They're not trying to help YOU. They're helping THEMSELVES like pigs at the trough.
This same crap happens in Capitalist, Communist, Socialist, Fascist countries. The form of government doesn't matter. The so-called Communist (i.e. "commune" everybody is supposed to be equal) leaders drive Mercedes and live in seaside villas.
Christ! Get a clue!
By the way. I'm a "rich" guy (who was born poor) and I'm waking up at 4:00 a.m. every day trying to figure out ways to keep what I EARN (not steal or screw other people out of). Unless YOU are getting up that early to try and figure out ways to beat me, I'M GONNA BEAT YOU, by figuring out ways to get around any and all rules imposed OR if I can't, figure out ways to pass my costs on to YOU. And you can take that to the bank.
So what do YOU do? You have talent. You have ability. Get off your ass and get to work. Life is short and government won't be putting any million dollar checks
in your mailbox any time soon. And if they do, that means a million dollars won't buy a loaf of bread.
I agree with the "rich guy". My husband and I work three full time jobs between us and we are the ones being penalized for being motivated enough to make a comfortable (not rich) living so we can retire by the age of 55. Why should we work if the government is just going to take more of our money to support those who are too lazy to work??? And, we live a healthy lifestyle so we don't get sick; and for that, we are being penalized as well.
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