Author Topic: Who here objects to a 50% income tax rate on earnings above $1MIL  (Read 18076 times)

tonymctones

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Re: Who here objects to a 50% income tax rate on earnings above $1MIL
« Reply #75 on: November 10, 2012, 03:00:32 PM »
I don't disagree completely... but the country does need revenue.

It ALSO needs to cut spending... It just does.

We can not continue to spend money like we are fighting the commies... It's just not realistic anymore.
agreed, the thing obama/dems wont tell you is that cutting spending is better and has a greater effect than raising revenue from taxes.

Its a simple numbers game my friend.

cutting spending from operations is equivilant to an exponential raising in revenue. If you know how to produce an income statement you can do this easily. Increasing the bottom line(govt savings) by reducing operating costs is much more effective than increasing revenue.

Make an I/S with just revenue, Cost of goods sold, Gross margin, Operating costs and Net income.

now reduce operating costs by 10% and see the effect on net income. Then using the original numbers see how much you have to raise revenue to have the same effect on net income.

cutting costs is much more effective/efficient in having an impact in the bottom line then revenue.  

I can draw that out for the non believers.

tu_holmes

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Re: Who here objects to a 50% income tax rate on earnings above $1MIL
« Reply #76 on: November 10, 2012, 03:03:05 PM »
agreed, the thing obama/dems wont tell you is that cutting spending is better and has a greater effect than raising revenue from taxes.

Its a simple numbers game my friend.

cutting spending from operations is equivilant to an exponential raising in revenue. If you know how to produce an income statement you can do this easily. Increasing the bottom line(govt savings) by reducing operating costs is much more effective than increasing revenue.

Make an I/S with just revenue, Cost of goods sold, Gross margin, Operating costs and Net income.

now reduce operating costs by 10% and see the effect on net income. Then using the original numbers see how much you have to raise revenue to have the same effect on net income.

cutting costs is much more effective/efficient in having an impact in the bottom line then revenue. 

I can draw that out for the non believers.

This is true... Which is why I've been a big proponent of it.

whork

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Re: Who here objects to a 50% income tax rate on earnings above $1MIL
« Reply #77 on: November 10, 2012, 03:10:27 PM »
agreed, the thing obama/dems wont tell you is that cutting spending is better and has a greater effect than raising revenue from taxes.

Its a simple numbers game my friend.

cutting spending from operations is equivilant to an exponential raising in revenue. If you know how to produce an income statement you can do this easily. Increasing the bottom line(govt savings) by reducing operating costs is much more effective than increasing revenue.

Make an I/S with just revenue, Cost of goods sold, Gross margin, Operating costs and Net income.

now reduce operating costs by 10% and see the effect on net income. Then using the original numbers see how much you have to raise revenue to have the same effect on net income.

cutting costs is much more effective/efficient in having an impact in the bottom line then revenue.  

I can draw that out for the non believers.

Good post

WOOO

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Re: Who here objects to a 50% income tax rate on earnings above $1MIL
« Reply #78 on: November 10, 2012, 03:29:14 PM »
yes it was but it wasnt conducted by them, it was conducted by Ernst and Young one of the worlds most respected accounting/consulting firms

dont be niave, if you feel the study was inaccurate please do tell but EY is beyond reproach on being biased simply b/c the funds came from sources you deem biased.

They arent one of the countries big 5 accounting firms for no reason, as a matter of fact they may be in the big 3 i cant remember.

The political will is certainly their its the lack of personal sacrifice on all ends of the spectrum that is sickening.

Ppl are voting on what will benefit them the most, not what will benefit the country the most. Short sighted idiots who want to take a quick boost in (Insert benefit here) without looking at the long term costs. This election is a prime example, ppl dont realize that if the country keeps going in the direction its in and it most certainly will with obama that taxes on everyone will have to be raised to deal with the debt.

I said it 4 years ago and its more true today.



if i give you 50 million dollars to tell me what i want to hear then you will tell me what i want to hear


and enron was once the toast of wall street

tonymctones

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Re: Who here objects to a 50% income tax rate on earnings above $1MIL
« Reply #79 on: November 10, 2012, 03:42:00 PM »


if i give you 50 million dollars to tell me what i want to hear then you will tell me what i want to hear


and enron was once the toast of wall street

LOL EY pissess 50 million dollars and they also have a reputation to uphold. I know that may not mean anything to you but trust in the realm of accounting and consulting your reputation means everything.

again if you believe the study to be biased please do tell why, saying it was sponsered by ppl with political ideology means nothing in how the study was conducted.

Im waiting for a legit response as to why you fell the study is inaccurate.

WOOO

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Re: Who here objects to a 50% income tax rate on earnings above $1MIL
« Reply #80 on: November 10, 2012, 03:49:42 PM »
LOL EY pissess 50 million dollars and they also have a reputation to uphold. I know that may not mean anything to you but trust in the realm of accounting and consulting your reputation means everything.

again if you believe the study to be biased please do tell why, saying it was sponsered by ppl with political ideology means nothing in how the study was conducted.

Im waiting for a legit response as to why you fell the study is inaccurate.


i doubt i would be able to persuade you to see my point of view...

see i don't care much about anything other than being happy, spending time with my wife, daughter and dog

i don't mind paying taxes, don't want to be a millionaire and spend most of the day ignoring the rest of the world


one thing i do know is that reputation is a matter of opinion... "consultants" are like teachers to me... "those who can't do, [consult]"

tonymctones

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Re: Who here objects to a 50% income tax rate on earnings above $1MIL
« Reply #81 on: November 10, 2012, 03:51:59 PM »

i doubt i would be able to persuade you to see my point of view...

see i don't care much about anything other than being happy, spending time with my wife, daughter and dog

i don't mind paying taxes, don't want to be a millionaire and spend most of the day ignoring the rest of the world


one thing i do know is that reputation is a matter of opinion... "consultants" are like teachers to me... "those who can't do, [consult]"

if you had a legit reason to consider this study flawed you certainly could change my mind.

hahaha i feel the same way about ppl yelling for higher taxes, ppl that cant earn a good amount of money want to tax the ppl that do so they can have more...

so Ill take your response as you dont have a legit reason to doubt their study then.

whork

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Re: Who here objects to a 50% income tax rate on earnings above $1MIL
« Reply #82 on: November 10, 2012, 04:02:52 PM »
if you had a legit reason to consider this study flawed you certainly could change my mind.

hahaha i feel the same way about ppl yelling for higher taxes, ppl that cant earn a good amount of money want to tax the ppl that do so they can have more...

so Ill take your response as you dont have a legit reason to doubt their study then.

What part of Obamas plan would cost jobs?

tonymctones

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Re: Who here objects to a 50% income tax rate on earnings above $1MIL
« Reply #83 on: November 10, 2012, 04:07:37 PM »
What part of Obamas plan would cost jobs?
the part on raising taxes, you can do a search and read it for yourself and then you can come back and tell wooo what if any issues you find if any

whork

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Re: Who here objects to a 50% income tax rate on earnings above $1MIL
« Reply #84 on: November 10, 2012, 04:09:11 PM »
the part on raising taxes, you can do a search and read it for yourself and then you can come back and tell wooo what if any issues you find if any

Are we talking the Bush tax cuts?

I havent seen any tax increases by Obama

WOOO

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Re: Who here objects to a 50% income tax rate on earnings above $1MIL
« Reply #85 on: November 10, 2012, 04:09:29 PM »
so Ill take your response as you dont have a legit reason to doubt their study then.


call it instinct

tu_holmes

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Re: Who here objects to a 50% income tax rate on earnings above $1MIL
« Reply #86 on: November 10, 2012, 04:10:47 PM »
Are we talking the Bush tax cuts?

I havent seen any tax increases by Obama

Yeah, I think he means the return to the old rates... Also he may want to do that keep most of the cuts on those making 250K or less and returning some of the others to the highest bracket.

Honestly I see a new plan having to be pulled out completely.

tonymctones

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Re: Who here objects to a 50% income tax rate on earnings above $1MIL
« Reply #87 on: November 10, 2012, 04:13:02 PM »

call it instinct
I call it stupidity ;)

whork

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Re: Who here objects to a 50% income tax rate on earnings above $1MIL
« Reply #88 on: November 10, 2012, 04:16:00 PM »
Yeah, I think he means the return to the old rates... Also he may want to do that keep most of the cuts on those making 250K or less and returning some of the others to the highest bracket.

Honestly I see a new plan having to be pulled out completely.

So rolling back the Bush tax cuts is gonna cost jobs?

tonymctones

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Re: Who here objects to a 50% income tax rate on earnings above $1MIL
« Reply #89 on: November 10, 2012, 04:17:22 PM »
So rolling back the Bush tax cuts is gonna cost jobs?
read the study!!!

War-Horse

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Re: Who here objects to a 50% income tax rate on earnings above $1MIL
« Reply #90 on: November 10, 2012, 04:52:46 PM »
Theres nothing wrong with the millionaires paying what the standard was before the cuts. The cuts  were arranged to stimulate the economy and provide trickle down effect...........IT NEVER HAPPENED.   The wealthy push money into offshore accounts and hideouts....not into the economy for the middle class.  Why is this so hard for you to understand ???

The middle class spends all their check back into circulation for the economy......wealthy DONT!

I heard a billionaire on CNN say he cant buy 100,000 cars every year and 10,000 homes......only the middle class (His employees)can.  He GETS it!   We are the engine of the economy and tax cuts for US keep him alive.

tonymctones

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Re: Who here objects to a 50% income tax rate on earnings above $1MIL
« Reply #91 on: November 10, 2012, 04:59:35 PM »
Theres nothing wrong with the millionaires paying what the standard was before the cuts. The cuts  were arranged to stimulate the economy and provide trickle down effect...........IT NEVER HAPPENED.   The wealthy push money into offshore accounts and hideouts....not into the economy for the middle class.  Why is this so hard for you to understand ???

The middle class spends all their check back into circulation for the economy......wealthy DONT!

I heard a billionaire on CNN say he cant buy 100,000 cars every year and 10,000 homes......only the middle class (His employees)can.  He GETS it!   We are the engine of the economy and tax cuts for US keep him alive.
they also reinvest in their companies, increase companies savings and personal savings which in turn their banks lend back out and if you google the money multiplier effect you will see why thats a good thing.

theres also that whole thing about losing 700K+ jobs if taxes are raised in the middle of this shit storm.

Time and place moron time and place

WOOO

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Re: Who here objects to a 50% income tax rate on earnings above $1MIL
« Reply #92 on: November 10, 2012, 05:09:17 PM »
they also reinvest in their companies, increase companies savings and personal savings which in turn their banks lend back out and if you google the money multiplier effect you will see why thats a good thing.

theres also that whole thing about losing 700K+ jobs if taxes are raised in the middle of this shit storm.

Time and place moron time and place



i say, let's roll the dice

after all

i live in canada

tonymctones

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Re: Who here objects to a 50% income tax rate on earnings above $1MIL
« Reply #93 on: November 10, 2012, 05:12:51 PM »


i say, let's roll the dice

after all

i live in canada
hahahah :)

WOOO

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Re: Who here objects to a 50% income tax rate on earnings above $1MIL
« Reply #94 on: November 10, 2012, 05:17:06 PM »
hahahah :)


if it doesn't work out you can come see how the commies live up here 

garebear

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Re: Who here objects to a 50% income tax rate on earnings above $1MIL
« Reply #95 on: November 10, 2012, 05:19:37 PM »
that graph garebear posted is extremely misleading

in reality the  chart for the entire budget looks like




medicare and social security combined equal about 1.5 trillion.  defense is 700 billion.


those entitlements were created, everyone supports them, but no one realized how expensive they would be and no one wants to raise taxes enough to pay for them.
You're right. I was hasty and posted a wrong graph.

I'll try to be more careful in the future.

However, I still believe that military spending is out of control.
G

tonymctones

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Re: Who here objects to a 50% income tax rate on earnings above $1MIL
« Reply #96 on: November 10, 2012, 05:25:57 PM »

if it doesn't work out you can come see how the commies live up here 
hahahah i recently heard on a television show that you can drink hard liquor at your butt naked strip clubs.

can you confirm this?

tonymctones

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Re: Who here objects to a 50% income tax rate on earnings above $1MIL
« Reply #97 on: November 10, 2012, 05:26:58 PM »
You're right. I was hasty and posted a wrong graph.

I'll try to be more careful in the future.

However, I still believe that military spending is out of control.
you werent hasty, you didnt know what the term discretionary meant...

War-Horse

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Re: Who here objects to a 50% income tax rate on earnings above $1MIL
« Reply #98 on: November 10, 2012, 05:27:39 PM »
they also reinvest in their companies, increase companies savings and personal savings which in turn their banks lend back out and if you google the money multiplier effect you will see why thats a good thing.

theres also that whole thing about losing 700K+ jobs if taxes are raised in the middle of this shit storm.

Time and place moron time and place


Wealthy owners did that before the global economy got easy to move around in.  "Trickle down" doesnt exist.  Middle class is the engine. Good lord your a dense one.......you and coach are seen as worthless shit by your party. When the door closes the "Mitts" tell the truth about what they think of you.....47%.............thats truth.

tonymctones

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Re: Who here objects to a 50% income tax rate on earnings above $1MIL
« Reply #99 on: November 10, 2012, 05:29:40 PM »

Wealthy owners did that before the global economy got easy to move around in.  "Trickle down" doesnt exist.  Middle class is the engine. Good lord your a dense one.......you and coach are seen as worthless shit by your party. When the door closes the "Mitts" tell the truth about what they think of you.....47%.............thats truth.
ahhhhh its been "easy" to move money around for decades now....

I agree the middle class is the engine and the business owners are the drivers. you need both of them, without investments and savings the middle class wouldnt have jobs you dumb ass.