Hey at least I honor the vets and those who currently serve.:hatsoff:
If the country needs me then I'm there.
Warren Buffett Says "Tax the Rich More"
- Thread starter Jagger69
- Start date
Hey at least I honor the vets and those who currently serve.:hatsoff:
If the country needs me then I'm there.
Good points you make there.
Actually, we need both. When you're 14 trillion dollars in debt you need to cut spending and raise revenue.
You've got to be kidding that you think anyone in the middle class is making 200k per year. You live in fantasy land and I would love to hear your range for what you consider middle class.
Does 30k-40k annually count as middle class to you?
There are several small business owners (who's businesses are taxed at the individual level) who do $200k+ a year in business, thereby being taxed as "wealthy," yet have salaries in the decidedly middle class range. So, they are indeed middle class, and are adversely affected by the $200k ceiling.
Those small business owners make up a very small number - 2% or so of that income bracket.
http://www.politifact.com/truth-o-m...led-wealthy-are-actually-small-business-owne/
I would say lower and upper middle class range from 30k-60k. Anyone that is making over 60k a year is doing well. I would classify anyone making 200k per year as wealthy. Millionaires and billionaires are rich.
I'm not even sure what you mean actually. They are small business owners that run sole proprietorships? And they don't have a tax id for their business? Their business is taxed at the 200k level and then they are taxed again for their salary?
200K are small business owners, the entrepreneurial middle class. Middle class can go anywhere from 47,000-250k
Upper Middle Class
Median Middle Class
Working Class
The level of education also influences income.
Considering the fact that most of the rich only pay 15% tax rate and some even less. Buffet is exactly right, it won't kill these people to shell out some more money in taxes. This is what many of these conservatives or the tea-baggers refuse to accept is that during WWII the super rich tax rate was 88%, afterward it dropped to 70% until that scumbag Reagan dropped it to 50% and then after that it dropped again. However, when Clinton and the first Bush were in office they raised the tax rate on the super rich and balanced the budget.
Your figures are just insane. Middle class is 47k-250k per year to you? That's really just ridiculous.
Less than 2 percent of tax returns reporting small-business income are filed by taxpayers in the top two income brackets-individuals earning more than about $170,000 a year and families earning more than about $210,000 a year.
And just as most small businesses aren't owned by people in the top income brackets, most people in the top income brackets don't rely mainly on small-business income: According to the Tax Policy Center, such proceeds make up a majority of income for about 40 percent of households in the top income bracket and a third of households in the second-highest bracket.
Yes, as a matter of fact, several small businesses are structured as sole proprietorships, as that is one way to avoid the double-taxation a company and its shareholders incur with a C Corp. structure.
OK, so you're implying that we should tell this alleged 2% to go fuck themselves, by adopting an attitude that you have 2 options if you fall into this category. 1st option: Go screw. You're a small enough percentage (allegedly) of the business community that it doesn't matter to us if you suffer or, your 2nd option: Intentionally limit your financial successes as a business. Simply put, don't make so much money.
So you have a group of entrepreneurs that make a gross, professional profit, of 200k+ annually, yet given net profits after accounting for overhead, etc, make a decidedly minimum wage personally, and these people somehow don't deserve the label "middle class?" What category do these people fall into, then? They aren't poor, and they certainly aren't rich, but by your standards, they aren't middle class either?
How does this attitude make sense?
Regardless of their stated, alleged, actual or perceived motivations for joining, appreciating the sacrifices of the servicemen and women of this country will NEVER be wrong, no matter what your warped mind tells you.
If Buffett wants to give his money away, I think he should.
$200,000 doesn't make someone rich.
$200,000 doesn't make someone rich.
Something isn't right here. At first glance I would simply accuse these 2% of being poor business owners. If their sole proprietorship makes 200k+ they will obviously fall into that tax bracket but they have many legitimate tax deductions they can use. They can deduct all operating expenses including any salaries or contracted work. So again I can't be sure what you mean exactly because every business is different but it sounds like the people you are talking about simply don't understand they have deductions coming their way.
Whoever said it did?:dunno:
But the average American likely believes or accepts that a single person making $200K can stand a microscopic 3.8 pct. tax increase on his/her INVESTMENT INCOME (as opposed to the implication of it being on their personal income).
That is what you were alluding to, right?:o
Never said sacrifices werent appreciated I said they didnt have to be made. End of Convo.
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