The 250,000 dollar family

[Decker]

Cornell 50,000 a year???  Sorry Cornell doesnt cost that much for a year of school..

Sending their kid to a HS that costs 15,000???  LOL

These fuckers deserve to be broke... And Id GUARANTEE YOU their accountant finds loopholes

I would like to see their effective tax rate (what they really pay) versus their nominal rate (top marginal bracket).

Where the hell is it written that Yuppie kids are entitled to a Cornell education?  Do what I did.  Get a scholarship and take out loans.  

If that family making all that cash is barely towing the line to send JR. to Cornell, then maybe Cornell is not a sound choice of schools.  State schools work.  

[George Whorewell]

What I cant understand for the life of me is how people who aren't poor think Obama will be good for the economy. Someone who votes for Obama because of the economy and is wealthy, upper middle class, or middle class but seeking to increase their income must really be insane. Throw in the fact that Obama wants to spend billions of our tax dollars to fight global poverty, wants to socialize health care,  wants to give amnesty to 12 million illegals, wants to repeal Nafta and on and on and on, and him becoming president is going to not only make things worse, but destroy an economy thats already in bad shape.

[George Whorewell]

Yes, I am an idiot because I disagree with you and you have absolutely no rebuttal.

[liberalismo]

The point is that these people arent rich moron. 250k per year with student loans, children, the cost of living and everything that everyone has to pay for on top of being taxed more heavily than anyone else  isn't a winfall by any means. I suppose people who make money should be taxed until they are as broke as everyone else. That way things will be more "equal" right?

Or a 10,000 dollar a year highschool? 

[George Whorewell]

I didnt mean them in particular. I am talking generally about people who earn that amount of money. And so what if thats how much HS costs. I suppose when you earn enough money to send your kids to the best schools money can buy, you should be taxed to the point where you have to send them to public school so that people who earn 20,000$ a year don't have to pay any taxes. I also guess millionares are the only ones who get to send their kids to the best schools. I mean this is insane. You work your ass off to give your kids the advantages you didn't have and the advantages only the rich have and in return you get taxed to the stone age. Wonderful system. I am sure the economy will be stimulated greatly.

[Busted]

Pretty funny since just last year he wanted to raise taxes on anyone making just $42k. Just want I want to do, grow my business so I can give what I make to someone else.......yep, makes sense too me

Joe that "raise 42k taxes" has already been disproven by Fact Check... Do you not pay attention to news?

[Busted]

Books, dorms , food and more cost money too you know....

And if you cant afford to send your kid to one of the most expensive Undergrad schools in the land, they should go to colleges they can afford.  Only reason to go to a IVY league school is if you have a scholarship...

[shootfighter1]

Thats what I did Decker.  I got a partial undergrad scholarship for academics and took the rest out in loans.  by the time med school was finished, I had over $80,000 in loans...and I worked on the weekends and lived in crappy areas to keep that loan amount as low as possible.  12 yrs I spent in school after HS, poor, then to get out with over $80,000 of loans.  Now, I am not of the income that we are discussing raising taxes in this election but many professionals are.  I feel we all pay enough taxes already and its a slippery slope when liberals talk about what is 'fair'.  That $250,000 could easily creep down to $150,000.  What about all the sacrifices professionals make along the way?  We shouldn't have to again sacrifice when we finally start making good money after the delayed gratification doing what we were supposed to. 
We must avoid a small % of millionaires, a shrinking middle class and a boatload of poor people...I understand that but we all pay enough % of taxes already, just make the people and corporations really pay them.

[George Whorewell]

LOL- OK so if they could afford it before the tax avanalnche its ok, but now they should go somewhere else because they have to give their money to poor people. Do you see the hypocrisy at work here? Why shouldn't people who aren't in their tax brackets pick up the slack? Shouldn't they live within their means instead of penalizing the 250k tax bracket?

[Dos Equis]

http://money.cnn.com/galleries/2008/fortune/0810/gallery.tully_henrys.fortune/index.html

Aspiring HENRYs played by the rules: They won the best grades in high school, got accepted at good colleges and grad schools, and worked daunting schedules as medical interns or associates in law firms.

Now this group of superachievers is being targeted as a cash machine. Barack Obama has pledged to pay for middle-class tax cuts and credits by raising taxes on the HENRYs. Obama and the congressional Democrats frequently refer to households earning over $250,000 as the "rich." But whether the HENRYs are truly "rich," or ever will be, is debatable.

The reason the HENRYs are strapped for both lifestyle and nest egg is twofold: First, they already face a large and rising burden for federal, state, and property taxes plus the knife of the AMT. Second, they invest heavily in their kids: saving for private colleges, paying for day care - and providing dance, tennis, or gymnastics lessons. They have little left over for either extravagant living or, in many cases, saving for an affluent retirement.
By Shawn Tully.

Great thread BD. 

[George Whorewell]

Shoot you nailed it. I am going to be going through the same crap in about 8 months, except I am starting out in one of the lower tax brackets ( having my first job). Then, while owing the government almost 200k I am supposed to work my way up to increase my earnings. Hopefully within 4 or 5 years I will be making 250k +, only then I'll pay the highest taxes in the country and I'll still have to pay off my student loans. Makes me think 4 years of college and 3 years of graduate school was an utter waste of time. I should have become a fireman or cop and said screw the student loans and high taxes.

[Busted]

Thats what I did Decker.  I got a partial undergrad scholarship for academics and took the rest out in loans.  by the time med school was finished, I had over $80,000 in loans...and I worked on the weekends and lived in crappy areas to keep that loan amount as low as possible.  12 yrs I spent in school after HS, poor, then to get out with over $80,000 of loans.  Now, I am not of the income that we are discussing raising taxes in this election but many professionals are.  I feel we all pay enough taxes already and its a slippery slope when liberals talk about what is 'fair'.  That $250,000 could easily creep down to $150,000.  What about all the sacrifices professionals make along the way?  We shouldn't have to again sacrifice when we finally start making good money after the delayed gratification doing what we supposed to. 
We must avoid a small % of millionaires, a shrinking middle class and a boatload of poor people...I understand that but we all pay enough % of taxes already, just make the people and corporations really pay them.

So paying a extra 3% above 250k is going to change someones lifestyle?  fuck out of here....

Go do your research how much taxes where under Nixon, Carter, Regan, Bush, Clinton and Bush 2...

[Busted]

LOL- OK so if they could afford it before the tax avanalnche its ok, but now they should go somewhere else because they have to give their money to poor people. Do you see the hypocrisy at work here? Why shouldn't people who aren't in their tax brackets pick up the slack? Shouldn't they live within their means instead of penalizing the 250k tax bracket?

People making over 250k got INSANE tax breaks the past 8 years and the middle class got fucked...

[Benny B]

Yes, I am an idiot because I disagree with you and you have absolutely no rebuttal.

No, you're an IDIOT of your nonsensical posts.

LMAOOOOOOO

WOW- I suppose this woman kicked her own ass and took her own money too. You fucking people are ridiculous. The double standard rears its ugly head once again. Whats next? The Bush administration hired the animal who attacked this woman? Or wait... This woman liked role playing with her black boyfriend who only pretended to beat her up and rob her because it turns her on... He actually was waiting for her at home wearing patent leather chaps and a mask for some S+M. That would explain why she refused medical attention!

[George Whorewell]

LOL Im an idiot because of something I posted in another thread that has nothing to do with this topic. I already adressed that posting in that thread. What does that have to do with taxes? Benny, you really need help dude. Have you ever won an argument in your entire life or when someone disagrees with you do you throw your hands up in the air and run away?

[Dos Equis]

Thats what I did Decker.  I got a partial undergrad scholarship for academics and took the rest out in loans.  by the time med school was finished, I had over $80,000 in loans...and I worked on the weekends and lived in crappy areas to keep that loan amount as low as possible.  12 yrs I spent in school after HS, poor, then to get out with over $80,000 of loans.  Now, I am not of the income that we are discussing raising taxes in this election but many professionals are.  I feel we all pay enough taxes already and its a slippery slope when liberals talk about what is 'fair'.  That $250,000 could easily creep down to $150,000.  What about all the sacrifices professionals make along the way?  We shouldn't have to again sacrifice when we finally start making good money after the delayed gratification doing what we were supposed to. 
We must avoid a small % of millionaires, a shrinking middle class and a boatload of poor people...I understand that but we all pay enough % of taxes already, just make the people and corporations really pay them.

If you are concerned about paying higher taxes, Decker and Obama believe you should simply make less money.

[Busted]

If you are concerned about paying higher taxes, Decker and Obama believe you should simply make less money.

Taxes are the last thing on my mind.  Health care, Education are on my top priorities. People would rather save 1500 in taxes and watch the country continue to go down the Bush tubes.  After they loose their jobs tax rate will be the last thing on their mind...

[Decker]

Thats what I did Decker.  I got a partial undergrad scholarship for academics and took the rest out in loans.  by the time med school was finished, I had over $80,000 in loans...and I worked on the weekends and lived in crappy areas to keep that loan amount as low as possible.  12 yrs I spent in school after HS, poor, then to get out with over $80,000 of loans.  Now, I am not of the income that we are discussing raising taxes in this election but many professionals are.  I feel we all pay enough taxes already and its a slippery slope when liberals talk about what is 'fair'.  That $250,000 could easily creep down to $150,000.  What about all the sacrifices professionals make along the way?  We shouldn't have to again sacrifice when we finally start making good money after the delayed gratification doing what we were supposed to. 
We must avoid a small % of millionaires, a shrinking middle class and a boatload of poor people...I understand that but we all pay enough % of taxes already, just make the people and corporations really pay them.

You did exactly what I did.  I left Law School owing over $100,000.  During my education, I lived in a roach infested apartment that was so small I had no room for a bed.  I slept on a couch for 3 years.  The roaches got into my books, food, and computer.  But rent was only 420/month which is good for Chicago.

I view us as the stronger people in society.  We can shoulder more of the burden than the average person.  Why?  We're talented and we showed it with our educational pursuits.

I don't mind kicking in a little extra b/c I know some of that money does good things.

That doesn't mean I love paying taxes.  I would love to see the Code overhauled.  I would like to see it simplified and I would love to see nominal tax rates only adjusted as low as we can go.

For that to happen, the spending has to be frozen in some manner and the taxes must be reanalyzed by tax econometricians.  And that must be done in a transparent manner communicated to us in plain english.

I ask a lot.  But I expect a lot.

[Dos Equis]

Taxes are the last thing on my mind.  Health care, Education are on my top priorities. People would rather save 1500 in taxes and watch the country continue to go down the Bush tubes.  After they loose their jobs tax rate will be the last thing on their mind...

I care about a lot of issues.  Taxes are the first thing on Obama's mind, because he keeps talking about them everyday.  Same with McCain. 

[w8tlftr]

Somehow, I think these families will find a way to survive paying a little more in taxes.  People making $250K or more hardly had to reign in their spending during the Clinton years. From what I recall, lot's of people were doing quite well under Clinton.

Benny, do you have to pay the AMT?

[Hereford]

You did exactly what I did.  I left Law School owing over $100,000.  During my education, I lived in a roach infested apartment that was so small I had no room for a bed.  I slept on a couch for 3 years.  The roaches got into my books, food, and computer.  But rent was only 420/month which is good for Chicago.

I view us as the stronger people in society.  We can shoulder more of the burden than the average person.  Why?  We're talented and we showed it with our educational pursuits.

I don't mind kicking in a little extra b/c I know some of that money does good things.

That doesn't mean I love paying taxes.  I would love to see the Code overhauled.  I would like to see it simplified and I would love to see nominal tax rates only adjusted as low as we can go.

For that to happen, the spending has to be frozen in some manner and the taxes must be reanalyzed by tax econometricians.  And that must be done in a transparent manner communicated to us in plain english.

I ask a lot.  But I expect a lot.

What 'good things' does it do? Support millions of illegals and welfare queens?

So are your expectations being met? No? Must be Bush's fault....

[Bindare_Dundat]

An experiment to try: Go to a restaurant. After dinner, tell the waiter you are giving his tip to someone who is needier than him. Now, go outside and give $10 to the homeless guy (afterall, he needs it more, right?) See how angry the waiter gets. The homeless guy was grateful for the money he did not earn, but the waiter was pretty angry that I gave away the money that he did earn. I guess this Redistribution of Wealth is an easier thing to swallow in concept than in practical application.

[odilly]

boo f'ing hoo...i am sure these people wont be having to hit up the breadlines at worst they will have to give their daughters a Toyota instead of a Honda on the sweet sixteen birthday. Or, i know, how about you make your kids work for their cars and post secondary education (although with them working they wont have as much time to get loser pissed and take nudie photos of themselves for blinkys college girls thread) like thousands of others. That one family talking about their bills and how they had a hard time paying for their daughters uni as the younger one went to a expensive private school...shit if your kids so smart send them to public school if they do good there then yes they are smart...if they do good at a 15000 a year school ,guess what you bought 15000 dollars worth of tutoring and extra help and your kid is not as smart as you think... Christ i wish i made over 200 and all i had to do was go to an office yeah life sure is tuff.... fing pussys

[Bindare_Dundat]

boo f'ing hoo...i am sure these people wont be having to hit up the breadlines at worst they will have to give their daughters a Toyota instead of a Honda on the sweet sixteen birthday. Or, i know, how about you make your kids work for their cars and post secondary education (although with them working they wont have as much time to get loser pissed and take nudie photos of themselves for blinkys college girls thread) like thousands of others. That one family talking about their bills and how they had a hard time paying for their daughters uni as the younger one went to a expensive private school...shit if your kids so smart send them to public school if they do good there then yes they are smart...if they do good at a 15000 a year school ,guess what you bought 15000 dollars worth of tutoring and extra help and your kid is not as smart as you think... Christ i wish i made over 200 and all i had to do was go to an office yeah life sure is tuff.... fing pussys

I never thought people would show so much animosity toward other people that strive to have the best life for themselves and their children. Do you think these families got their income handed to them on a silver platter?

[Cromespyder]

correct me if im wrong.
but let's say under obamas plan tax rate is 25% for people making under 250k, and 35% for people making under 250k.

if you're making 249k you get taxed 25%
and if you're making over 250k, say 251k, you are not suddenly taxed 35% instead, but every dollar you make OVER 250k is taxed at 35%?
is this right?