Home › Forums › Financial Markets/Economics › Good fact based WSJ article on who pays taxes in America
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no_such_reality.
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August 9, 2012 at 1:53 PM #749872August 9, 2012 at 1:56 PM #749873
SK in CV
Participant[quote=AN] I want to simplify the tax code, etc. I.E. I want something like Bowles-Simpson proposal.[/quote]
The problem with Simpson Bowles is that it wasn’t a proposal. It was an outline of a proposal. There weren’t really many details. Much like the Romney economic “plan”. “We’ll cut stuff” is not a plan.
August 9, 2012 at 1:59 PM #749874briansd1
Guest[quote=AN]
So, which is it, $250k = middle class or $250k is the wealthy? [/quote]Amount over and above $250k.
It’s like paying Mello Roos or HOA to live in a better neighborhood. It’s a non-issue.
[quote=AN]
Your choice suck. That’s like saying which would you rather have, sh!t or vomit. That’s a false choice and I choose neither. I want true tax reform. I want most deductions to go away, I want lower tax rate, I want to simplify the tax code, etc. I.E. I want something like Bowles-Simpson proposal.[/quote]An all or nothing attitude is stupid because in the end you get nothing.
Human existence is about incremental progress.
August 9, 2012 at 2:04 PM #749876an
Participant[quote=SK in CV]
This really shouldnt be such a hard concept. $250K a year IS the top 3%. It will also provide a much greater than middle class lifestyle in the vast majority of this country. Guess what, a nice house with new cars, and gym memberships, $100 dinners out, season tickets to baseball or football games, and nice vacations IS a wealthy lifestyle. There are a few spots in this country where income below the upper middle class can’t afford to live. That doesn’t make residents there middle class. It makes them wealthy.If you live in San Diego, and make $250K a year and aren’t saving a shit load of money, you ARE living a wealthy lifestyle.[/quote]
So which is it?
[quote=SK in CV]If you live in San Diego, and make $250K a year and aren’t saving a shit load of money, you ARE living a wealthy lifestyle.[/quote]
or[quote=SK in CV]$250K a year will get you a solid middle class lifestyle in San Diego…[/quote]
With your $250k = top 3%, it’s not a concept, it’s pure data. top 5% is ~$150k and top 20% is ~$90k. Those are the data. Now, your argument is that, you’re in the top 3%, so quit bitching. Well, one can easily say you’re in the top 5%, so quit bitching and pay up. After all, is there that big of a difference between 3% and 5%? You can do all of these:
[quote=SK in CV][It will also provide a much greater than middle class lifestyle in the vast majority of this country. Guess what, a nice house with new cars, and gym memberships, $100 dinners out, season tickets to baseball or football games, and nice vacations IS a wealthy lifestyle. There are a few spots in this country where income below the upper middle class can’t afford to live. That doesn’t make residents there middle class. It makes them wealthy.[/quote] while making $150k. So, $150k is wealthy, so pay your fair share.August 9, 2012 at 2:05 PM #749877Participant[quote=briansd1]An all or nothing attitude is stupid because in the end you get nothing.
Human existence is about incremental progress.[/quote]
But neither of those choices are progress to me.August 9, 2012 at 2:06 PM #749879Participant[quote=SK in CV][quote=AN] I want to simplify the tax code, etc. I.E. I want something like Bowles-Simpson proposal.[/quote]
The problem with Simpson Bowles is that it wasn’t a proposal. It was an outline of a proposal. There weren’t really many details. Much like the Romney economic “plan”. “We’ll cut stuff” is not a plan.[/quote]
Then generate a proposal out of it. Is it really that hard?August 9, 2012 at 2:07 PM #749880GuestAN, I’m talking progress towards the deficit since that’s the big worry.
There has to be progress somewhere to lowering the deficit, and we should take what we can get.
August 9, 2012 at 2:08 PM #749881Participant[quote=briansd1]AN, I’m talking progress towards the deficit since that’s the big worry.
There has to be progress somewhere to lowering the deficit.[/quote]
A bigger progress would be do nothing and let the entire Bush tax cut expire. After all, people were doing fine under Clinton before Bush’s tax cut.August 9, 2012 at 2:09 PM #749882bearishgurl
Participant[quote=AN][quote=briansd1]An all or nothing attitude is stupid because in the end you get nothing.
Human existence is about incremental progress.[/quote]
But neither of those choices are progress to me.[/quote]I understand, AN. Unfortunately, the world we live in doesn’t always operate the way we want it to.
btw: are you registered to vote in the upcoming General Election?
August 9, 2012 at 2:15 PM #749884Guest[quote=AN]
A bigger progress would be do nothing and let the entire Bush tax cut expire. After all, people were doing fine under Clinton before Bush’s tax cut.[/quote]If Republicans believe that, then let them sell it to the country.
But I expect the Democratic solution of letting the Bush tax cut expire for the richest Americans to be more palatable to the country and more likely to pass.
As flu said, let fairness be decided democratically.
August 9, 2012 at 2:16 PM #749885Participant[quote=bearishgurl]I understand, AN. Unfortunately, the world we live in doesn’t always operate the way we want it to.
btw: are you registered to vote in the upcoming General Election?[/quote]
I understand. Life sucks sometimes and sometimes, we don’t get what we want. That doesn’t mean you can’t have your own opinion. You don’t have to like what the world gives you. Like I said, the stalemate and going over fiscal cliff would do a lot to bring us back to balance.Yes, I am registered to vote and will vote.
August 9, 2012 at 2:17 PM #749886Participant[quote=briansd1]If Republicans believe that, then let them sell it to the country.
But I expect the Democratic solution of letting the Bush tax cut expire for the richest Americans to be more palatable to the country and more likely to pass.
As flu said, let fairness be decided democratically.[/quote]
They don’t have to sell it to the country. They just have to do nothing.August 9, 2012 at 2:19 PM #749887Guest[quote=AN]
They don’t have to sell it to the country. They just have to do nothing.[/quote]Ok, we shall see later this year. Time will tell…
August 9, 2012 at 2:21 PM #749888Participant[quote=AN]So which is it?
[quote=SK in CV]If you live in San Diego, and make $250K a year and aren’t saving a shit load of money, you ARE living a wealthy lifestyle.[/quote]
or[quote=SK in CV]$250K a year will get you a solid middle class lifestyle in San Diego…[/quote]
[/quote]
It’s both. The 2nd is included in the first.
August 9, 2012 at 2:39 PM #749890Participant[quote=SK in CV][quote=AN]So which is it?
[quote=SK in CV]If you live in San Diego, and make $250K a year and aren’t saving a shit load of money, you ARE living a wealthy lifestyle.[/quote]
or
[quote=SK in CV]$250K a year will get you a solid middle class lifestyle in San Diego…[/quote]
[/quote]
It’s both. The 2nd is included in the first.[/quote]
So, you must live a solid middle class life style in order to save a shit load of money while making $250k. So, are they middle class or wealthy? If $250k is wealthy, then why can’t they live a wealthy lifestyle AND save a shit load? BTW, with your logic, people making $150k can save a a lot of money (might not be a shit load like those making $250k, but still a lot) while living a solid middle class life style in San Diego as well. So, I guess with your logic, $150k is also wealthy. After all, those making $100k can live a wealthy life style and not save a shit load of money. -
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