candystripper -> RE: Surrendering Opportunity for Success by Pursuing Survival (10/31/2008 8:32:50 AM)
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Forced? There is a gun to their heads to consume? Maybe you support additional limits on advertising for things so they won't be so tempted? Their decisions determine their ability to save or not. (Excerpt.) Mercnbeth Well, I won't attack this as silly. Though I think it is...how on earth do you expect a single mom making $10 an hour with two kids in day care to save? But nonetheless, let's assume she can. If she works 40 hours a week she'll make $400. Forget about payroll taxes for the moment just to keep it simple. Let's say she can save three months' salary a year. That's $1200. She'll owe what? 28% of $120? Assuming she can achieve a stunning 10% rate of return on investment? How on earth does she become a major player in the US government's income stream from capital gains tax, compared to a wealthy family with, say $12,000 in capital gains every year? Or $120,000? quote:
What is your threshold of "great wealth" and why should yours, or Obama's definition determine of policy? (Excerpt.) Mercnbeth Well, I am pretty comfy with Obama's definition of wealth....an individual income over $250,000. But I agree, you could put the black line anywhere...it is necessarially arbitrary. However, the guy who makes $250,001 isn't going to be adversely affected...it's the guy making $750,000 or $250 million who will be. That's because so much more of the $750,000 guy's income will be taxed at a higher rate. This country has had a progressive income tax for as long as it has had an income tax at all. Obama hasn't proposed anything radical here, Merc. quote:
To be crystal clear - lawyers are leaches. They produce conflict not resolve it. Unless you are some new form of lawyer, there is no law enforcement coming from a lawyer; only aversion of enforcement or prosecution - depending on who is paying them. Unfortunately the legal industry has infected our government and now has a mission statement of creating the very loopholes that foolish folk seek to avoid the regulations they put in place. Mercnbeth Well, so as to not hijack the thread, I'll ignore your lawyer-bashing for the moment. No, the average government employee is not a lawyer, and no, the average human being over 21 is not a lawyer. We're plentiful but we have not yet taken over the planet, lol. As you admit, lawyers are not guided missiles. We do not write legislation, bring suits, etc. unless someone is PAYING us for our trouble....and we SERVE that client's interests....so to blame the tax bar for tax loopholes is just silly. Without the wealthy, there would not BE a tax bar. quote:
Everyone making more than you - isn't wealthy. Envy of success and seeking to bring it down doesn't make you any richer. Letting the government determine how much is 'wealthy' and how much income is 'too much'; limits you much more than it does to anyone who has managed to put enough money on the side to just not play the game that Obama intents to play. (Excerpt.) Mercnbeth Good Lord Merc...what are youi smoking? Obama has not proposed that the government would tax all income above $250,000 at the rate of 100%....historically we have had marginal rates as high as 92% but that's been awhile, and the WEALTHY on whom they were imposed found it fairly easy to avoid them. No one...certainly not Obama...is saying some income is 'too much'. There is no gang of theives on its way to your house to confiscate all your luxury items. quote:
Instead of wanting and expecting the government to provide everything perhaps people should try something different - working for it. What exactly currently stands in your way from doing so? (Excerpt.) Mercnbeth Merc, this is beneath you. We do not know one another personally and I doubt you have any access to information on my personal finances apart friom what I myself have written here...just as I do as to yours. As it happens, I've been poor, middle class, upper middle class, etc. However, I don't base my position on tax policy based on what will benefit me personally. I'm sure your tax lawyer will devise ingenious ways for you to avoid the full brunt of any tax increase Obama manages to pass which affects any portion of your income, Merc. Believe, pigs are not about to fly. candystripper [sm=pole.gif]
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