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i don't think someone earning $250k a year should be in the tax bracket for the ''wealthiest''.....that i am certain about....
the very top tax bracket should begin much higher than a 250k a year earner....
the top bracket in taxes should probably start at a couple of million a year in earnings....someone making 250k should be about 3 down from the highest bracket, imho.
When I was a kid, I always heard "you can live comfortably off the interest of $300K." Dunno if it was true or not, just always heard it.I think the question is WHAT is wealthy?..a question I have asked here several times and received one answer,$ 500.000. Does it matter how they got it?
To me, truly wealthy means that one has enough assets to live without working.
$500,000 is well off, but not wealthy, imo.
In other words, you can't deny that the truly wealthy have no taxable income after adjustment.The people paying income taxes are not the WEALTHY.
Every once in a while the drugs cause Stuttering LimpTard to accidentally let the truth slip out.
June 14, 2007
RUSH: -- a lot of people, a lot of people wealthy people set up foundations and they do this to keep the government from getting the money.
August 7, 2007
CALLER: And, you know, and the way our tax system works, we have an overly complex system, which in and of itself is a problem, but the way our tax system works and the way the tax laws are written, it's based on a few kind of like hinge numbers like adjusted gross income and taxable income, and while the soak the rich -- or however you choose to describe it -- really doesn't come down that way. It really comes down to much lower income levels.
RUSH: It does, exactly, and here's the dirty little secret if you ever to pull it off. It's hard. This is why most people don't understand the tax-the-rich business. You've got to structure your life so you have no "earned" income. I'm out of time. I'll explain that. There's a category called earned income versus other kinds of income. Earned income is what the income tax rate is on. That's how "the rich" do it. They don't have "earned" income.
END TRANSCRIPT
It must really suck to live your life through the eyes of Rush.
Yes. Liberals are always generous with other people's money.From USMB, I have learned there are two types of wealth:
Liberal wealth, which is righteous and pure and holy and made from the very cream of human kindness.
Conservative wealth, which is evil and smelly and foul and made from the tears of small children.
Right, USMB lefties?
And Liberal Wealth tries to buy indulgences for the Sin of Being Rich by taxing others who are less well off than them and transferring their income to their cronies.
When I was a kid, I always heard "you can live comfortably off the interest of $300K." Dunno if it was true or not, just always heard it.I think the question is WHAT is wealthy?..a question I have asked here several times and received one answer,$ 500.000. Does it matter how they got it?
To me, truly wealthy means that one has enough assets to live without working.
$500,000 is well off, but not wealthy, imo.
A guy in the office plays pretty heavily in the market. I asked him what that number would be today; he said 5 million.
When I was a kid, I always heard "you can live comfortably off the interest of $300K." Dunno if it was true or not, just always heard it.To me, truly wealthy means that one has enough assets to live without working.
$500,000 is well off, but not wealthy, imo.
A guy in the office plays pretty heavily in the market. I asked him what that number would be today; he said 5 million.
$5M is the right number. I hear that mentioned frequently as being what's needed for a financially secure retirement.
Interestingly enough, it's less than what the retirement of many public sector union employees will cost us when they retire at 55.
my parents invested $200k in the late 70's through the 1980's in CD's and in 10 years, had a million dollars....interest earnings on cd's could be found in the double digits...one of them paid 25% interest mom said....
NOW CD's are paying in interest 1-2%.....i will NEVER make a million off of them...
You were deflecting to me because you couldn't rebut my post. You fool no one except yourself.In other words, you can't deny that the truly wealthy have no taxable income after adjustment.It must really suck to live your life through the eyes of Rush.
Your saying that....not me. I was just making an observation about you.
You were deflecting to me because you couldn't rebut my post. You fool no one except yourself.In other words, you can't deny that the truly wealthy have no taxable income after adjustment.
Your saying that....not me. I was just making an observation about you.
my parents invested $200k in the late 70's through the 1980's in CD's and in 10 years, had a million dollars....interest earnings on cd's could be found in the double digits...one of them paid 25% interest mom said....
NOW CD's are paying in interest 1-2%.....i will NEVER make a million off of them...
Yup. Besides, from what I hear around here, it's selfish of you to keep your money anyway.
I've been thinking about wealth. It seems that in order to be wealthy you either have to:
1) Work hard for it
2) Recieve it someway that doesn't involve work.
Have I missed any others? And which type of wealth should we be encouraging?
I've known a few wealthy people who earned top salaries because they were in the right place at the right time working for an existing company that was already successful and so it didn't notice that these were really not the brightest bulbs in the room. As long as they shuffled the paper the same way it had always been, they would snap their empty Bosca briefcases shut every night and pretend they were working very, very hard.
There are business men and women who climb to the top by knowingly selling bad products or bogus services, by manipulating customers or clients into taking unnecessary risks in investments.There are a slew of ways people make lots of money legally, but morally reprehensible. Bankers, lawyers, insurance salesmen, car dealers, home builders, to name a few.
This sounds just like Capital Hill, Maggie.
I've been thinking about wealth. It seems that in order to be wealthy you either have to:
1) Work hard for it
2) Recieve it someway that doesn't involve work.
Have I missed any others? And which type of wealth should we be encouraging?
1- The old fashioned way: work hard and earn it or inherited it.
2- New fashioned way: Don't work hard and let the government provide you your wealth.
I've been thinking about wealth. It seems that in order to be wealthy you either have to:
1) Work hard for it
2) Recieve it someway that doesn't involve work.
Have I missed any others? And which type of wealth should we be encouraging?
Who cares?
Designing public policy based on pea green envy over the few lucky people who won the gene pool lottery ends up destroying opportunities for those in the first category. I really don't care how someone got their wealth as long as it wasn't by force or fraud.
Being born to rich parents is neither force nor fraud.
I've been thinking about wealth. It seems that in order to be wealthy you either have to:
1) Work hard for it
2) Recieve it someway that doesn't involve work.
Have I missed any others? And which type of wealth should we be encouraging?
3)screw your way to the top
(rich girls ride in chevy's, poor girls ride in Ford's, Maggie rides the bedsprings to pay her room and board)
I think the question is WHAT is wealthy?..a question I have asked here several times and received one answer,$ 500.000. Does it matter how they got it?
I learned the answer about 15 years ago when I was flat-ass broke. I sat the wife down just before Christmas and said "I'm sorry honey, but there's nothing and there's not gonna be much of a holiday this year". She said we have each other and this beautiful new baby- who needs money. Now that I've finally climbed out of poverty I look back at those days as the best times of my life.
Why the hatred for anyone who is born into a wealthy family?
Maybe the ghetto queens, trailor trash and other related scumbag liberals should learn this fact:
- It is a noble thing to sacrifice in order to provide your kids a BETTER life than most others will enjoy.
Parents of ALL income try to set their kids up for a life with extra benefits. Mid class families set aside college money. Poor families may just scrap by to pay for private school so their kid wont be caught up in gangs at a local public (excuse me, "government") school. And yes, rich families set up trust funds and such so their kid will never have money trouble.
Why is this wrong? Is wealth something to be ashamed of now??????
The class-warfare argument is mind-boggling...so no attempt at an answer from myself. Only disgust that in a free nation we have such discussions about the punitive actions of our own government as a reward for success.
Yeah, I saw in the "unequal wealth" thread someone applauding the statement "Profit does nothing for the middle class". I lost faith in humanity knowing someone who thinks like that is also able to function enough to use a computer.
The CEOs of the 50 firms that have laid off the most workers since the onset of the economic crisis took home nearly $12 million on average in 2009, 42% more than their peers at S&P 500 firms, according to CEO Pay and the Great Recession, the 17th in a series of annual Executive Excess reports from the progressive think tank.
Combined, the CEOs at those 50 firms made $598 million and laid off 531,363 workers -- accounting for more than three quarters of the 697,448 announced layoffs at the top 500 firms. The study also found that 72% of them announced their mass layoffs during periods of positive earnings reports, and that those companies enjoyed a 44% profit increase in 2009.
"These numbers all reflect a broader trend in Great Recession-era Corporate America: the relentless squeezing of worker jobs, pay, and benefits to boost corporate earnings and maintain corporate executive paychecks at their recent bloated levels," the study authors said.
my parents invested $200k in the late 70's through the 1980's in CD's and in 10 years, had a million dollars....interest earnings on cd's could be found in the double digits...one of them paid 25% interest mom said....
NOW CD's are paying in interest 1-2%.....i will NEVER make a million off of them...
