OT – Who are you voting for?

[CAwireman]

Okay, just finished doing dishes. My son said Pres Obama was projected as winner. Indeed.

CNN is projecting 281 to 201 at the moment.

Now, awaiting the local CA offices and props…

[CA renter]

[quote=ctr70]The Dem’s solution to every problem is taxing the “rich”. They never have any other solution to anything. People who make say over $2 million a year to me are rich, people who make $250k are not rich. They are often high earning professionals in our society who made MAJOR sacrifices in their life and did what others wouldn’t (doctors, lawyers, enteprenuers, scientists). I just can’t get behind a system who’s solution to everything is taxing these people more. I think you should be REWARDED for your success not punished for it. Most Dem’s have a very low financial IQ. I have many in my family. You start talking about anything economics related and their eyes roll up. Great example is the American public is too dumb to know that Romney pays a low tax on his income because he is FINANCIALLY INTELLIGENT. The IRS has a tax code that taxes passive income, corporation income, investment income less than w-2 earned income. Anyone in this county has the freedom to take advantage of this. I myself got out of the w-2 corporate world 10 yrs ago and started a business and operate my business as an S Corp and have created passive investment income to avoid the financial and wealth predators at the IRS. So don’t get mad a Romney for paying less in tax just for taking advantage of rules already in place to encourage risk taking and entraprenuerialism in our society. But most Dems are so busy indoctrinating themselves with the Obama save the middle class BS and whining, that they don’t take the initiative and start their own business and invest to take advantage of the U.S. tax codes. Instead dumb ass Dems just vote to tax the rich more, they are a one trick pony with NO OTHER PLAN. Same old “Robin Hood” steal from the rich BS. Robin Hood was a common crook! The only fair plan EVER was Steve Forbes 17% flat tax for all incomes.

Examples of tax changes in election:

-Prop 30 raise state income tax for people making over $250k to 10.3%
-Obama will raise taxes on qualified dividends for singles making over $200k to be taxes as Ordinary income, Romney would maintain 15% rate
-Obama care 3.8% tax on investment income, Romney would repeal Obama Care
-Obama will raise long term Cap gains tax rates to 20% for those making over $200k, Romney would not raise
-[/quote]

And the Republicans solution to everything is lowering taxes, even though the lowest tax rates in recent history have coincided with (caused, IMHO) the destruction of the middle class, the greatest wealth/income divide in our nation’s history, and the dismantling of our manufacturing base.

What is the Republican plan? Is there any historical evidence that it would actually work?

———-

As far as I.Q. is concerned, while watching news on the exit polls, one person after another who voted for Romney was quoted as voting, “what the Bible says,” or some similar nonsense. I’m sorry, but that’s just not indicative of a high I.Q. (and that’s not meant to slam any particular religion).

[an]

[quote=CA renter]I’m sorry, but that’s just not indicative of a high I.Q. (and that’s not meant to slam any particular religion).[/quote]But you just did. What other religion have a bible?

BTW: http://anepigone.blogspot.com/2008/11/politics-and-iq-conservative-democrats.html

[ctr70]

[quote=CA renter]And “capitalists” who speculate on commodities, stocks, bonds, etc., and house flippers, etc. are “hard workers”???[/quote]

You lose all credibility with this comment. Typical Dem who has a low financial IQ & has the poor mans mindset of how all the rich are evil. Flippers work their butts off and are entrepreneurs that take risks and help fix up neighborhoods and renovate houses to make a profit. But you wouldn’t get something like that. Maybe if you posted a little less on this board and hustled a little and got out there and started a business you might make over $250k and get the privilege of paying most of the bills in this country as you get skinned alive with income taxes. And you might also learn a little about S Corps and how passive income is taxed vs. w-2 income, and why Romney and others with high financial IQ’s pay 13% tax rate as they are incentivized to by the U.S. tax code.

These comments remind me of my dad and sisters who are far left and clueless about ecomomics or business and hate those “evil rich people” making over $250k who start companies create jobs, research cancer, perform heart surgeries in ER’s, etc… All they know is to go out and get their w-2 wage slave jobs and “rail” against those evil rich and vote for politicians to tax them more. Why not? It’s not them that have to pay all this extra shit like prop 30 and Obama Care. It’s those evil rich people making over $250k that have to shoulder it.

[scaredyclassic]

i thought gary johnson would do a little better. im still glad i voted for him.

[ctr70]

[quote=CA renter]Also, if you’re thinking about moving because you don’t like California’s taxes, make sure you know how the other states are making up for the loss of revenue from income taxes (or whatever taxes you don’t like).

Like the B&O tax in WA:

http://dor.wa.gov/content/FindTaxesAndRates/BAndOTax/

And their sales tax rates are generally higher than ours:

http://dor.wa.gov/Docs/forms/ExcsTx/LocSalUseTx/LocalSlsUseFlyer_12_Q4_alpha.pdf
—————
[/quote]

There is no way paying a little extra sales tax is equivalent to paying 10.3% state income tax on say $350k AGI! For someone who makes $350k a year that is $35k+ out the door to the mental midgets in Sacramento that you wouldn’t have to pay in WA State! I’m a frugal guy and I don’t buy a lot of shit so sales tax wouldn’t affect me much. I would save huge by moving my business to WA State.

[livinincali]

[quote=ctr70]
There is no way paying a little extra sales tax is equivalent to paying 10.3% state income tax on say $350k AGI! For someone who makes $350k a year that is $35k+ out the door to the mental midgets in Sacramento that you wouldn’t have to pay in WA State! I’m a frugal guy and I don’t buy a lot of shit so sales tax wouldn’t affect me much. I would save huge by moving my business to WA State.[/quote]

If you’re really smart you move your business to Vancouver, WA and drive across the bridge to Portland when you need to buy a lot of stuff subject to sales tax.

[ctr70]

Bingo! Lets see, move to WA state and have $35k extra cash for say 10 luxury vacations a year, or hand over that $35k to the mental midgets in Sac so they can do things like use it to backstop those $100k year for life (+ COLA increases of course) state union pensions? Hmmm?

[ctr70]

[quote=Dukehorn]Do you ever travel internationally and think what other people are paying in taxes?

It’s not called THEFT (no matter how much you want to unintelligibly scream on the internet) to pay taxes unless you think the US Government was stealing from us from 1932 to 1982 (all rates 50% or higher for the highest bracket).[/quote]

This is more BS logic. Just b/c other countries tax higher or the U.S. used to tax higher, it makes it right? People used to smoke a lot more cigarettes from 1932 to 1982, did that make it the right thing to do? Yes I travel internationally I’m in Thailand right now. I like Hong Kong’s tax code. Boy France, Italy, Greece and Spain are just KILLING it economically right now with there higher than the U.S. income tax rates aren’t they? Jeez soooo many innovative job creating companies like Google and Apple come out of Italy and Spain you can’t even count ’em!

Top 5% income earners in the U.S. already pays 40% of all income taxes. I don’t know the exact figure, but probably the top 10% pay 70%. So in summary, a small amount of financially successful people already pay pretty much most of the bills in this county. They are going to pay for Obama Care and Prop 30 in CA. And you want them to pay more? Insert Steve Forbes 17% flat tax plan here.

[UCGal]

[quote=ctr70]
There is no way paying a little extra sales tax is equivalent to paying 10.3% state income tax on say $350k AGI! For someone who makes $350k a year that is $35k+ out the door to the mental midgets in Sacramento that you wouldn’t have to pay in WA State! I’m a frugal guy and I don’t buy a lot of shit so sales tax wouldn’t affect me much. I would save huge by moving my business to WA State.[/quote]

I don’t think that’s how it works. The higher rate is tiered. So you pay the same taxes as always on your first $250k of AGI. Then a higher rate on the amount ABOVE $250k.

I could be wrong – but that’s how I read it.

[an]

[quote=UCGal][quote=ctr70]
There is no way paying a little extra sales tax is equivalent to paying 10.3% state income tax on say $350k AGI! For someone who makes $350k a year that is $35k+ out the door to the mental midgets in Sacramento that you wouldn’t have to pay in WA State! I’m a frugal guy and I don’t buy a lot of shit so sales tax wouldn’t affect me much. I would save huge by moving my business to WA State.[/quote]

I don’t think that’s how it works. The higher rate is tiered. So you pay the same taxes as always on your first $250k of AGI. Then a higher rate on the amount ABOVE $250k.

I could be wrong – but that’s how I read it.[/quote]
CA income tax is very progressive. By the time you hit $47k, you’re already paying 9.3%. So, although it might not be $35k+, it should definitely be $30k+.

[UCGal]

[quote=AN][quote=UCGal][quote=ctr70]
There is no way paying a little extra sales tax is equivalent to paying 10.3% state income tax on say $350k AGI! For someone who makes $350k a year that is $35k+ out the door to the mental midgets in Sacramento that you wouldn’t have to pay in WA State! I’m a frugal guy and I don’t buy a lot of shit so sales tax wouldn’t affect me much. I would save huge by moving my business to WA State.[/quote]

I don’t think that’s how it works. The higher rate is tiered. So you pay the same taxes as always on your first $250k of AGI. Then a higher rate on the amount ABOVE $250k.

I could be wrong – but that’s how I read it.[/quote]
CA income tax is very progressive. By the time you hit $47k, you’re already paying 9.3%. So, although it might not be $35k+, it should definitely be $30k+.[/quote]
I agree – but the *delta* with this new law is not as big as implied.

As you state – Folks were already paying 9.3% on income above $49k for a single person and $98k for a 2 income household…

Now there are new tiers that start at $200k single, and $250k married. It doesn’t change the tax rates on income at the lower tiers. That’s my point.

You can scream about the new tax rate – but don’t suggest it applies to the income below the new tiers. Because it doesn’t.

Even high income professionals will pay the same rate on the bulk of their income.

[Ren]

So I never actually said “if prop 30 passes, we’re leaving the state,” because that would be overly dramatic and silly. There’s a lot holding us here and 30 by itself wouldn’t do it. However, now that it has passed, it’s enough of a push in that direction that we’re putting feelers out. If I wanted a very small town with low crime and good schools, where in WA would I look?

[Coronita]

[quote=UCGal][quote=ctr70]
There is no way paying a little extra sales tax is equivalent to paying 10.3% state income tax on say $350k AGI! For someone who makes $350k a year that is $35k+ out the door to the mental midgets in Sacramento that you wouldn’t have to pay in WA State! I’m a frugal guy and I don’t buy a lot of shit so sales tax wouldn’t affect me much. I would save huge by moving my business to WA State.[/quote]

I don’t think that’s how it works. The higher rate is tiered. So you pay the same taxes as always on your first $250k of AGI. Then a higher rate on the amount ABOVE $250k.

I could be wrong – but that’s how I read it.[/quote]

Correct…

[CAwireman]

The Props…

Proposition 30 Taxes Increase (revenues for general fund and education)Passed

Proposition 35 Law enforcement Increased Penalties for Human Trafficking and Sex Slavery Passed

Proposition 36 Law enforcement Modification of the “Three Strikes” Law Passed

Proposition 39 Taxes Income Tax Increase for Multistate Businesses Passed

Proposition 40 Redistricting Referendum on the State Senate Redistricting Plan Passed

The rest were voted down…

[Author]

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