Californication

[Slapper]

That is why Obama's tax hikes are a complete fraud.

A guy who makes 250k in income is not rich.  That is a complete farse.

Lets say I open my business and after 10 years I finally make over 250k a year, but have little savings, wealth, etc.  Now I am the target as a rich guy.

However, you have people like Gates, Buffet, Soros, Kennedy's, et al, who all have huge accumulated wealth.  Obama is not taking wealth that is concentrated in the hands of these few people, he is taxing income which is already taxed at a high level.

Do you understand the difference between taxing wealth and taxing income?.

Dude, I am not a fan of Obama, how many times do I have to say it?

Secondly, making > 250,000.00 per year automatically puts you into the 10% quintile of highest earners in this country. Which is considered upper class here and in Papua New Guinea. 99.90% of all human beings on this planet make less money than you.

Now, for a realistic assessment, if you make 250,000.00 per year and have little savings... YOU ARE STUPID. Even if you own your own business and just happen to be going through tough times.   

My two cents.

[Soul Crusher]

Dude, I am not a fan of Obama, how many times do I have to say it?

Secondly, making > 250,000.00 per year automatically puts you into the 10% quintile of highest earners in this country. Which is considered upper class here and in Papua New Guinea. 99.90% of all human beings on this planet make less money than you.

Now, for a realistic assessment, if you make 250,000.00 per year and have little savings... YOU ARE STUPID. Even if you own your own business and just happen to be going through tough times.   

My two cents.

Lets do some basic math - a guy who makes 250k a year in NY keeps about 175,000 or less, before taking expenses into account. 

Lets say that person puts aside 50,000 per year in savings.  It would take 20 years to accumulate 1 million dollars in wealth assuming no increase or interest or rate of return.  I am not including a house or anything like that.

Is that guy rich???

No.

Buffet, Gates, Soros, et al, have BILLIONS in accumulated wealth that is not taxed.

Additionally, most people who make 250k a year are small business owners who hire approximately 75% of new employees.  If you tax those people more they will simnply slow down and lay people off.

   

[Slapper]

Lets do some basic math - a guy who makes 250k a year in NY keeps about 175,000 or less, before taking expenses into account. 

Lets say that person puts aside 50,000 per year in savings.  It would take 20 years to accumulate 1 million dollars in wealth assuming no increase or interest or rate of return.  I am not including a house or anything like that.

Is that guy rich???

No.

Yes!!! If you have 1 million bucks in the bank you are rich. Only 3% (9.3 million millionaires over a population of 304 million people) of Americans can say that. Line 100 people up and pick three persons out of the line. That's you and two friends.

Buffet, Gates, Soros, et al, have BILLIONS in accumulated wealth that is not taxed.

Additionally, most people who make 250k a year are small business owners who hire approximately 75% of new employees.  If you tax those people more they will simnply slow down and lay people off.

How do you know that? I mean, I know plenty of folks in Manhattan who make > 250,000.00 per year and ARE NOT business owners. This country, regardless of the political party, is definitely not business unfriendly. You guys guys have so many tax exemptions you might as well not file any returns at the end of the year. What you guys have a beef with is that you expect slaves and then find out that people, workers, here in the US have rights.

[Soul Crusher]

Yes!!! If you have 1 million bucks in the bank you are rich. Only 3% (9.3 million millionaires over a population of 304 million people) of Americans can say that. Line 100 people up and pick three persons out of the line. That's you and two friends.

How do you know that? I mean, I know plenty of folks in Manhattan who make > 250,000.00 per year and ARE NOT business owners. This country, regardless of the political party, is definitely not business unfriendly. You guys guys have so many tax exemptions you might as well not file any returns at the end of the year. What you guys have a beef with is that you expect slaves and then find out that people, workers, here in the US have rights.

I do not have a million in the bank, more like ten million!   Only kidding, not even remotely close.

Look, I make a decent salary, not wall street levels by any means and dont have 1 million in the bank.  I have good savings, etc etc, but nothing that would ever qualifiy me as rich. 

Also, many people who make big money are smart and will find ways to keep under the cap.  Whether it be increased deductions, starting dummy corps to transfe income, etc, there are plenty of things to do.

I personally think the fairest system is to have a flat sales tax with exemptions for food, some clothing, and some other stuff so that lower income people dont get hammered.

   

[Hereford]

Funny how whenever the word "unions" is used anywhere here in the US it is usually and promptly followed by the "anti-business environment" line.

Funny thing is California is the richest state in the union. Their business can't be THAT bad.

Don't be fooled.

California is 100% broke. You haven't heard?

Unions are about as anti-business as it gets.

Seen the state of affairs at GM lately? 99% from long-term union bullshit.

[Soul Crusher]

California is 100% broke. You haven't heard?

Unions are about as anti-business as it gets.

Seen the state of affairs at GM lately? 99% from long-term union bullshit.

Unions in their present form offer nothing but bankrupcty, mediocrity, tension, and increased costs.

I still have not heard one rational justification as to why public employees should be able to unionize against the taxpayer.