Letter to Feinstein

[meadandale]

To me it seems rather inconsistent to say that you think that debt is bad and that you want us to pay our bills and then suggest taxing the crap out of capital gains.

Capital gains are realized from savings and investments. If we want to encourage saving and investing (as opposed to spending) the way to do it is not to penalize those that do by confiscating their gains.

In general (ignoring the current crop of bankers who have their hands out) investors alone, incur the risk for their investments. If they lose, they get nothing. If they win, however, the government puts IT’S hand out for a portion of the gains, having incurred none of the risk of the investment.

Seems like a pretty sweet deal for the government…Frankly, if the government wants to tax the crap out of my wages and then, after they’ve already taxed that money, try and tax any gains I make trying to put that money to work, maybe I’m better off just spending like a drunken sailor using credit and then just walking away. It sure seems to be what we are encouraging by penalizing wealth building.

[DWCAP]

Also, to the tax issue. I have heard alot of things leveled at those on here supporting obama’s tax increase. We have covered alot of this before, but I go with the population percentage as the legal definition that we would have to use in calculating taxes. You may not feel rich, but if 20 people are in a room and you make more then the other 19, and are more than TRIPLE the median, than you are the rich guy. (Sd median is ~70k, 70k*3=210k)
http://www.signonsandiego.com/news/business/20080521-9999-1b21afford.html
(ps, this article is also interesting in the RE aspect of this site. We are actually BETTER off than we were last year in RE cost of living, but no one feels that way cept the piggs )

My parents fall in this catagory. They are never happy when the tax bill comes, AMT always kills them. I asked about it one time as they never say they shouldnt pay. I asked why and got this back. “When you go to a concert, should the seats front row center stage be the same price as the nose bleed seats? We have damn good seats in this life, we should pay for them.” I have been playing with that one in my head for years.

[DWCAP]

Also, to the tax issue. I have heard alot of things leveled at those on here supporting obama’s tax increase. We have covered alot of this before, but I go with the population percentage as the legal definition that we would have to use in calculating taxes. You may not feel rich, but if 20 people are in a room and you make more then the other 19, and are more than TRIPLE the median, than you are the rich guy. (Sd median is ~70k, 70k*3=210k)
http://www.signonsandiego.com/news/business/20080521-9999-1b21afford.html
(ps, this article is also interesting in the RE aspect of this site. We are actually BETTER off than we were last year in RE cost of living, but no one feels that way cept the piggs )

My parents fall in this catagory. They are never happy when the tax bill comes, AMT always kills them. I asked about it one time as they never say they shouldnt pay. I asked why and got this back. “When you go to a concert, should the seats front row center stage be the same price as the nose bleed seats? We have damn good seats in this life, we should pay for them.” I have been playing with that one in my head for years.

[DWCAP]

Also, to the tax issue. I have heard alot of things leveled at those on here supporting obama’s tax increase. We have covered alot of this before, but I go with the population percentage as the legal definition that we would have to use in calculating taxes. You may not feel rich, but if 20 people are in a room and you make more then the other 19, and are more than TRIPLE the median, than you are the rich guy. (Sd median is ~70k, 70k*3=210k)
http://www.signonsandiego.com/news/business/20080521-9999-1b21afford.html
(ps, this article is also interesting in the RE aspect of this site. We are actually BETTER off than we were last year in RE cost of living, but no one feels that way cept the piggs )

My parents fall in this catagory. They are never happy when the tax bill comes, AMT always kills them. I asked about it one time as they never say they shouldnt pay. I asked why and got this back. “When you go to a concert, should the seats front row center stage be the same price as the nose bleed seats? We have damn good seats in this life, we should pay for them.” I have been playing with that one in my head for years.

[DWCAP]

Also, to the tax issue. I have heard alot of things leveled at those on here supporting obama’s tax increase. We have covered alot of this before, but I go with the population percentage as the legal definition that we would have to use in calculating taxes. You may not feel rich, but if 20 people are in a room and you make more then the other 19, and are more than TRIPLE the median, than you are the rich guy. (Sd median is ~70k, 70k*3=210k)
http://www.signonsandiego.com/news/business/20080521-9999-1b21afford.html
(ps, this article is also interesting in the RE aspect of this site. We are actually BETTER off than we were last year in RE cost of living, but no one feels that way cept the piggs )

My parents fall in this catagory. They are never happy when the tax bill comes, AMT always kills them. I asked about it one time as they never say they shouldnt pay. I asked why and got this back. “When you go to a concert, should the seats front row center stage be the same price as the nose bleed seats? We have damn good seats in this life, we should pay for them.” I have been playing with that one in my head for years.

[DWCAP]

Also, to the tax issue. I have heard alot of things leveled at those on here supporting obama’s tax increase. We have covered alot of this before, but I go with the population percentage as the legal definition that we would have to use in calculating taxes. You may not feel rich, but if 20 people are in a room and you make more then the other 19, and are more than TRIPLE the median, than you are the rich guy. (Sd median is ~70k, 70k*3=210k)
http://www.signonsandiego.com/news/business/20080521-9999-1b21afford.html
(ps, this article is also interesting in the RE aspect of this site. We are actually BETTER off than we were last year in RE cost of living, but no one feels that way cept the piggs )

My parents fall in this catagory. They are never happy when the tax bill comes, AMT always kills them. I asked about it one time as they never say they shouldnt pay. I asked why and got this back. “When you go to a concert, should the seats front row center stage be the same price as the nose bleed seats? We have damn good seats in this life, we should pay for them.” I have been playing with that one in my head for years.

[DWCAP]

Hey meandale,

How about a % for general regulation of the markets you put that money into? You know, regulators and accountants and inspectors to make sure that people have faith in the system. Look what happens when those people are ineffectual, we get todays RE mess.

Maybe that deserves some taxation?

[DWCAP]

Hey meandale,

How about a % for general regulation of the markets you put that money into? You know, regulators and accountants and inspectors to make sure that people have faith in the system. Look what happens when those people are ineffectual, we get todays RE mess.

Maybe that deserves some taxation?

[DWCAP]

Hey meandale,

How about a % for general regulation of the markets you put that money into? You know, regulators and accountants and inspectors to make sure that people have faith in the system. Look what happens when those people are ineffectual, we get todays RE mess.

Maybe that deserves some taxation?

[DWCAP]

Hey meandale,

How about a % for general regulation of the markets you put that money into? You know, regulators and accountants and inspectors to make sure that people have faith in the system. Look what happens when those people are ineffectual, we get todays RE mess.

Maybe that deserves some taxation?

[DWCAP]

Hey meandale,

How about a % for general regulation of the markets you put that money into? You know, regulators and accountants and inspectors to make sure that people have faith in the system. Look what happens when those people are ineffectual, we get todays RE mess.

Maybe that deserves some taxation?

[UCGal]

Agreeing with a few others here. If you make a household income of $250K – statistically, even in expensive CA, you are wealthy. You aren’t just middle class, you are upper-upper-middle, or wealthy.

People make choices about how to spend that money. Having 2 car payments, vs buying older cars with no loans. Living in more expensive areas. These are choices. You make them and pay the price for them.

My husband and I have a combined income of about $150k – which lets us make our mortgage, keep the kids in daycare/after school programs. And we save. We don’t have car payments. My husbands car is 14 years old! We buy the kids clothes at target rather than Gymboree. We don’t have granite counter tops and designer furniture. But we have a comfortable life. We are not wanting. We consider ourselves VERY fortunate. When we save for the kids college and for retirement, we know it means we won’t have the nicest vacation. We don’t have lawn services or a housecleaning service… we do it ourselves. But we are FAR better off than non-professionals and don’t try to kid ourselves that we aren’t upper middle class. It’s a joke to think that someone making $250K is “middle class”. Middle class by definition is the middle of the income spectrum. It’s people like a police officer married to a teacher. Or an insurance agent married to a middle manager. It’s not folks with a combined income of $250K plus.

Another point – people are talking about 28% and 35% tax brackets as if that rate applies to their entire income- that’s a little misleading. We are ALL in the 10% bracket for the first $8k, then 15% bracket for the next 24K, and 25% bracket for the next 46K, etc… You don’t pay 33% on the ENTIRE income… only the income above $165k. (Above assumes filing single, filing jointly is similar except higher limits.)

[UCGal]

Agreeing with a few others here. If you make a household income of $250K – statistically, even in expensive CA, you are wealthy. You aren’t just middle class, you are upper-upper-middle, or wealthy.

People make choices about how to spend that money. Having 2 car payments, vs buying older cars with no loans. Living in more expensive areas. These are choices. You make them and pay the price for them.

My husband and I have a combined income of about $150k – which lets us make our mortgage, keep the kids in daycare/after school programs. And we save. We don’t have car payments. My husbands car is 14 years old! We buy the kids clothes at target rather than Gymboree. We don’t have granite counter tops and designer furniture. But we have a comfortable life. We are not wanting. We consider ourselves VERY fortunate. When we save for the kids college and for retirement, we know it means we won’t have the nicest vacation. We don’t have lawn services or a housecleaning service… we do it ourselves. But we are FAR better off than non-professionals and don’t try to kid ourselves that we aren’t upper middle class. It’s a joke to think that someone making $250K is “middle class”. Middle class by definition is the middle of the income spectrum. It’s people like a police officer married to a teacher. Or an insurance agent married to a middle manager. It’s not folks with a combined income of $250K plus.

Another point – people are talking about 28% and 35% tax brackets as if that rate applies to their entire income- that’s a little misleading. We are ALL in the 10% bracket for the first $8k, then 15% bracket for the next 24K, and 25% bracket for the next 46K, etc… You don’t pay 33% on the ENTIRE income… only the income above $165k. (Above assumes filing single, filing jointly is similar except higher limits.)

[UCGal]

Agreeing with a few others here. If you make a household income of $250K – statistically, even in expensive CA, you are wealthy. You aren’t just middle class, you are upper-upper-middle, or wealthy.

People make choices about how to spend that money. Having 2 car payments, vs buying older cars with no loans. Living in more expensive areas. These are choices. You make them and pay the price for them.

My husband and I have a combined income of about $150k – which lets us make our mortgage, keep the kids in daycare/after school programs. And we save. We don’t have car payments. My husbands car is 14 years old! We buy the kids clothes at target rather than Gymboree. We don’t have granite counter tops and designer furniture. But we have a comfortable life. We are not wanting. We consider ourselves VERY fortunate. When we save for the kids college and for retirement, we know it means we won’t have the nicest vacation. We don’t have lawn services or a housecleaning service… we do it ourselves. But we are FAR better off than non-professionals and don’t try to kid ourselves that we aren’t upper middle class. It’s a joke to think that someone making $250K is “middle class”. Middle class by definition is the middle of the income spectrum. It’s people like a police officer married to a teacher. Or an insurance agent married to a middle manager. It’s not folks with a combined income of $250K plus.

Another point – people are talking about 28% and 35% tax brackets as if that rate applies to their entire income- that’s a little misleading. We are ALL in the 10% bracket for the first $8k, then 15% bracket for the next 24K, and 25% bracket for the next 46K, etc… You don’t pay 33% on the ENTIRE income… only the income above $165k. (Above assumes filing single, filing jointly is similar except higher limits.)

[UCGal]

Agreeing with a few others here. If you make a household income of $250K – statistically, even in expensive CA, you are wealthy. You aren’t just middle class, you are upper-upper-middle, or wealthy.

People make choices about how to spend that money. Having 2 car payments, vs buying older cars with no loans. Living in more expensive areas. These are choices. You make them and pay the price for them.

My husband and I have a combined income of about $150k – which lets us make our mortgage, keep the kids in daycare/after school programs. And we save. We don’t have car payments. My husbands car is 14 years old! We buy the kids clothes at target rather than Gymboree. We don’t have granite counter tops and designer furniture. But we have a comfortable life. We are not wanting. We consider ourselves VERY fortunate. When we save for the kids college and for retirement, we know it means we won’t have the nicest vacation. We don’t have lawn services or a housecleaning service… we do it ourselves. But we are FAR better off than non-professionals and don’t try to kid ourselves that we aren’t upper middle class. It’s a joke to think that someone making $250K is “middle class”. Middle class by definition is the middle of the income spectrum. It’s people like a police officer married to a teacher. Or an insurance agent married to a middle manager. It’s not folks with a combined income of $250K plus.

Another point – people are talking about 28% and 35% tax brackets as if that rate applies to their entire income- that’s a little misleading. We are ALL in the 10% bracket for the first $8k, then 15% bracket for the next 24K, and 25% bracket for the next 46K, etc… You don’t pay 33% on the ENTIRE income… only the income above $165k. (Above assumes filing single, filing jointly is similar except higher limits.)

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