88 wrote:Why work yourself to death if there is no reward for your effort?
The reason why socialism will never, EVER work.
RACK you, brother.
And for myself... I've typically been near the bottom of wage earners. At times in my life, I've done well, others not so much...
But fuck getting motivated to excel for the next 4 years. I've already been presented with a potential opportunity to fleece Uncle Sam... but even if it's a raging success, I'll keep it under $250K.
In your shoes, 88, I'd say you're a fool to crack the 250K barrier, when you can be taking time off to spend time with your kids, and slack in general.
so by working less, you're leaving others to pick up the slack and indirectly creating employment, not hogging it all to yourself. making for a working society rather than a working individual.
My wife and I are will be in the same boat this year. We have spoken with the accountant who keeps the books for our company and are immediately taking a few steps to lower our AGI.
For example my mother in law and my brother are now on the payroll. We support both, grad school for the bro, and supplement my mother in law's income. Now both will be paid a salary from the company for "consulting services" and they can then pay their own bills instead of us writing the checks to the school or the apt.
We are open to other ideas if you come across some. I would love to knock my salary down to say $100 a year or something as such so that I don't owe any income tax. Having the company pay the house note isn't a great idea though.
And that brings up the problem with raising taxes on only the top wage earners. As shown you and I can manipulate our income to not reach the threshold. So instead of seeing more money coming into the treasury it goes the other way and soon taxes are going up for everyone. Instead taxes should be set at a flat rate for all wage earners regardless of the bottom end. When people succeed and make more they aren't penalized and their rate remains the same. At the same time all deductions need to just go away and most people could file on a post card.
Moving Sale wrote:I really are a fucking POS.
Softball Bat wrote:
I am the dumbest motherfucker ever to post on the board.
It's real easy to sit back and laugh when it isn't your money.
No idea where you get 2% from either. The rate would rise from 35% to 39.6%. In most of the world that is 4.6% increase in the rate. On top of that he wants to further reduce one of the only deductions left, mortgage intrest. Taking 40 cents of a dollar is nothing but theft as 88 said.
The amount actually paid will rise close to 10%.
Further he wants to remove some deductions for oil and gas companies. He is upset at their record profits over the last couple of years. So because of that he is going to raise their tax bill. So short sided. These companies will just pass the increase on to consumers at the pump and watch gas prices rise again. Good news there is at least the lowest wage earners will share that burden with every other group.
If he is going to penalize oil and gas for their profits, why stop there. Companies like Microsoft make much more profit on a percentage basis, so why not go after them?
Moving Sale wrote:I really are a fucking POS.
Softball Bat wrote:
I am the dumbest motherfucker ever to post on the board.
Left Seater wrote:Companies like Microsoft make much more profit on a percentage basis, so why not go after them?
Because Gates is a Democrat. Besides, hurting the gas and oil industry is part of motivating the search for alternative fuels.
I suspect if those oil and gas companies used profit to invest in research and development into alternative clean fuel alternatives they could receive tax breaks on that.
Oil and gas companies are heavily invested in wind generation project in multiple areas across the country. I fly a group out to west Texas twice a month for meeting regarding the expansion of the wind farms there. I don't see much in tax breaks for their efforts.
Further, Dems are all about talking about alternative energy sources, but they oppose them at nearly every turn. They want alternative energy, but only if it is far, far away from their playgrounds. See Teddy Kennedy and Cape Wind.
Moving Sale wrote:I really are a fucking POS.
Softball Bat wrote:
I am the dumbest motherfucker ever to post on the board.
Left Seater wrote:It's real easy to sit back and laugh when it isn't your money.
No idea where you get 2% from either. The rate would rise from 35% to 39.6%. In most of the world that is 4.6% increase in the rate. On top of that he wants to further reduce one of the only deductions left, mortgage intrest. Taking 40 cents of a dollar is nothing but theft as 88 said.
So what we're talking about is a top rate equal to what it was during the Clinton years.
Did you stop making money then?
"Once upon a time, dinosaurs didn't have families. They lived in the woods and ate their children. It was a golden age."
—Earl Sinclair
"I do have respect for authority even though I throw jelly dicks at them.
BSmack wrote:
So what we're talking about is a top rate equal to what it was during the Clinton years.
Did you stop making money then?
Wasn't in this situation in the Clinton years.
However, I guess I can thank Clinton for part of my success. By giving terrorists a free ride and not taking out Osama when he could, we saw 9/11. As such rather than face airline security and headaches more people chose to travel on corporate/private jets.
Moving Sale wrote:I really are a fucking POS.
Softball Bat wrote:
I am the dumbest motherfucker ever to post on the board.
The government and the American people will just keep injecting the needle of debt into their and the countries arms on a daily basis now.
2008 did a number on specialty construction business's such as mine. What profit we made went to debt reduction. I will have all the equipment paid off this year. Won't make close to that 250K net all you other evil bastards will make, but you can be damn sure the business needs a few things over the next 2 years. :wink: :wink:
Borrow,borrow, finance,finance, credit cards,blah,blah blah,..this country will debt itself into obscurity before long.
Derron
Screw_Michigan wrote: Democrats are the REAL racists.
BSmack wrote:Oh please, afflict me with this curse of super high wages.
The only curse you're saddled with is not having the education and/or skills necessary to make any serious money. Perhaps if you weren't such a bottom feeder, you wouldn't resort to fleecing old men out of 15 lousy bucks.
Left Seater wrote:The rate would rise from 35% to 39.6%. In most of the world that is 4.6% increase in the rate.
If you increase the tax rate from 35% to 39.6%, your taxes go up about 14% not 4.6%.
Easy, read all of the posts. That was a math example for Bsmack. Showing 4.6 does not equal 2. As for the total bill I calculate about 10% for me, but it all depends on what your income is. The higher you earn the more the percentage of the total bill.
Moving Sale wrote:I really are a fucking POS.
Softball Bat wrote:
I am the dumbest motherfucker ever to post on the board.
For the first $250,000 of income they go up zero, zilch, or about the equivalent of your understanding of anything to do with numbers.
For the first dollar after $250,000 they go up 14%, but that's equivalent to a lot less than 1% on $251,000. The percentage that your tax will increase depends completely on how how far you're over the $250,000 threshold.
88 wrote:Obama appears to have made $250,000 the threshold for fucking people over from a tax perspective. So I've decided I'm not going to earn more than $250,000 in AGI once his tax plan goes into effect. I am going to work less.
We really have no choice. Our ownership of family business pays out 25% in tax free dividends. 50% is paid out in estimated taxes. The other 25% remains with the companies. Right now, that 50% estimated puts us close to the 250k mark. And this does not take into account our daily jobs. As my daily job is for a corporation (not mine), I cannot work less especially since I am the only one here who does what I do. So really, our only choice is to bend over and grab our ankles and wait for the mulatto to ram it in.
88 wrote:Obama appears to have made $250,000 the threshold for fucking people over from a tax perspective. So I've decided I'm not going to earn more than $250,000 in AGI once his tax plan goes into effect. I am going to work less.
We really have no choice. Our ownership of family business pays out 25% in tax free dividends. 50% is paid out in estimated taxes. The other 25% remains with the companies. Right now, that 50% estimated puts us close to the 250k mark. And this does not take into account our daily jobs. As my daily job is for a corporation (not mine), I cannot work less especially since I am the only one here who does what I do. So really, our only choice is to bend over and grab our ankles and wait for the mulatto to ram it in.
And you'll still probably be paying less on a percentage basis than somebody making in the $106K range, due to the maxing out of the payroll tax.
For the first $250,000 of income they go up zero, zilch, or about the equivalent of your understanding of anything to do with numbers.
For the first dollar after $250,000 they go up 14%, but that's equivalent to a lot less than 1% on $251,000. The percentage that your tax will increase depends completely on how how far you're over the $250,000 threshold.
Glad I could help.
Which, of course, has absolutely nothing to do with the percentage of increase between a 35% tax rate and 39.6% tax rate.
It has everything to do with your statement that:
If you increase the tax rate from 35% to 39.6%, your taxes go up about 14% not 4.6%.
Dr_Phibes wrote:so by working less, you're leaving others to pick up the slack and indirectly creating employment, not hogging it all to yourself. making for a working society rather than a working individual.
you're a good man, 88.
Laugh it up, comrade. We'll see how well it all works out for you. A system that is intentionally built to fuck the shit out of the dude that makes $500,000 won't succeed when that dude refuses to play. You'll end up with ten dudes each pulling in $50,000. Those guys don't pay taxes. As a matter of fact, they are being conditioned to expect to receive a check from the government with their take of the loot the government jacked from the guy who used to make $500,000. Oh, we're headed for great times, baby.
Guys who make 50k pay taxes dipshit. Property taxes, sales tax, excise taxes, sin taxes and yes, income taxes. And you would have to pay a lot more than the paltry 39% Obama is asking of you before your share of the total local/state/federal tax burden AS A PERCENTAGE OF YOUR INCOME equaled that of a guy making 50k. So go fuck yourself.
"Once upon a time, dinosaurs didn't have families. They lived in the woods and ate their children. It was a golden age."
—Earl Sinclair
"I do have respect for authority even though I throw jelly dicks at them.
Furthermore, 93% of those with a zero liability make under 20k a year. Those who fall between 40 and 75k make up a paltry 2.9% of all taxpayers with a negative liability.
Also, you're forgetting that all the other taxes we pay are REGRESSIVE. All of them. Think of that the next time you pay your sales tax.
Lastly, I find it incredible that you are contemplating giving up 250,000 in income because of a tax increase of 32k on said income. It is a good thing you're a lawyer, because you are the suck as an accountant.
"Once upon a time, dinosaurs didn't have families. They lived in the woods and ate their children. It was a golden age."
—Earl Sinclair
"I do have respect for authority even though I throw jelly dicks at them.
Just curious but anyone who thinks someone who makes 500k/year with 12 kids should pay taxes? Oh yeah, people who make 500k/year aren't fucking stupid enough to have 12 kids even though they could afford it.
Why is it the libs still don't get the FACT that those in the higher income levels have the ability to avoid paying higher tax rates and quite often the result is them being less productive. And enough of these folks being less productive results in guess what? The economy as a whole being less productive. Also tax receipts go down.
Obama's answer to receipts going down as a result of higher rates was so fukking what? It's fair.
88, you have inspired me, brother. I here by proclaim that I too (wifey included) will have a AGI of less than 250K. I'll even go so far as to say that I will double down on your offer and keep mine under 125K. :D
So, dude, if you need some more "employees" to spread that wealth around and keep it from barry hussein, I'm your man.
mvscal wrote:The only precious metals in a SHTF scenario are lead and brass.
Furthermore, 93% of those with a zero liability make under 20k a year. Those who fall between 40 and 75k make up a paltry 2.9% of all taxpayers with a negative liability.
Also, you're forgetting that all the other taxes we pay are REGRESSIVE. All of them. Think of that the next time you pay your sales tax.
Lastly, I find it incredible that you are contemplating giving up 250,000 in income because of a tax increase of 32k on said income. It is a good thing you're a lawyer, because you are the suck as an accountant.
The 50% number was a guess. 32% is sickening. 1/3 of all of the people living in this country do not pay federal income taxes. That is off the charts wrong.
Don't forget, they'll be getting a rebate from the feds as well.
"Four wheels move the body, two wheels move the soul."
88 wrote: I ... put in 3,000+ hour years many times to build my practice.
We take all the people who do not pay federal taxes (about 50% of all taxpayers) and we make them pick up trash, dig ditches, muck crap out of the sewers, paint things and do other jobs that do not take much skill.
Just think what a better person you would be if you had done both at once.
People who are driven to succeed will continue to do so even if their marginal tax rate is raised by 4.6%. There was a time in this country when the most successful members of society saw no problem in paying a proportionally higher tax rate. Of course, that might also have been a time when their government wasted a much smaller percentage of their contributions.
Joe in PB wrote:
Yeah I'm the dumbass
schmick, speaking about Larry Nassar's pubescent and prepubescent victims wrote:
They couldn't even kick that doctors ass
Seems they rather just lay there, get fucked and play victim
