posted on February 22, 2001 07:17:21 PM new
HJW-
It may be unfair in some cases, but these people made a choice to start using drugs.
They also made a very bad choice to ignore #3
Dan
posted on February 23, 2001 02:37:15 AM new
MKV- the taxable income on the IRS tax tables goes down to $5. If you have taxable income you pay no matter what the amount.
The editorial states that a lower rung single taxpayer with $6000 taxable income will get $6.11 a week. If you have $500,000 a year in taxable income, you'll receive over $13,000 in tax breaks, that's 42 times as much tax relief as a taxpayer making less than $27,050. The next to smallest break goes to single tax payers that have taxable income greater than $27050 and less than $65550. The largest break will go to those making over $297,350.
It seems to me a targeted tax cut for lower and middle calss would bring the most economic bang for the buck. The rich will make their cut through the other classes increased spending - as they own the capital and stocks that will benfit from increased consumer spending.
posted on February 23, 2001 07:34:35 AM new
reamond-I am not arguing about any tax breaks for the rich.
But those that have taxable income of $500,000 a year, how much taxes do they actually pay? (I know they pay a lot, even
with tax breaks)
I don't know, I don't have the 2000 tax book in front of me. I just did my daughters (over the phone-automated) and you punched in all the amounts that are on you W-2(s) and it does all the figuring, of course she got a refund. Her total gross income was something like 20,000 something, and she is single.
So I didn't get a chance yet to see the tax table. But then if your $500,000 or more, you'd be having an accountant (most likely) do your taxes.
I did have a semi break down of Bush's tax plan somewhere. I need to find it. [email protected]
posted on February 23, 2001 07:43:33 AM new
HJW-the 3 strikes; I believe if the charges are drugs, and you are on drugs, the state will offer free, drug rehab, the first 2 times. Most don't go, or go, and go back to the drug scene. But they are given a chance before that 'third strike'.
Right now, legislature is trying to change some of the 3 strikes law. Only for the cases of 'racial profiling'. If you have a lawyer or PD that is good enough, he can get you off the 3 strikes, if 'racial profiling' was involved in the crime.
I don't even want to get into the 'racial profiling' thing. Its only for African Americans, Asian Americans, etc. Not caucasions (sp?) and I don't know if caucasions is a politically correct word. [email protected]
posted on February 23, 2001 08:02:50 AM new
It's not that simple. There are dozens of ways for wealthy, even kinda' wealthy people to avoid any tax at all. When your money isn't invested at the supermarket or in the ga bill you put it somewhere else. A million dollars in state and municipal tax free bonds will earn a nice $80,000 a year income, tax free, for one easy example. The list is long. There are many people in the equations used to figure fairness of taxcuts in these discussions who are beyond the scope of your computations, or those presented to you in the press. They couldn't care less about this tax cut because you don't cut from nothing.
You can't say "oh, well, he makes $500,000 so he'll pay such and such amount." He might, but only if he's a fool, and if he's a fool he probably won't make the figure.
So don't measure any tax cutting proposal by fairness as it will never be that. Measure it by the $30. a week, or a month, you'll actually save to spend at the supermarket or on the gas bill.
Real Americans (not Texans) who are not rich are getting screwed as usual--given a piece of candy and told to behave.
posted on February 23, 2001 08:32:47 AM new
Your right, and if you have that kind of income you would be a fool NOT to invest in something. No one with a million, or even a half a million, would stick it all in a regular checking or savings account, that would be foolish. Tax breaks include, and are not limited to, giving to charities. If your that wealthy you DO give, and can write if off, and you give a lot.
Do they give only for the tax break they will get, some, yeah sure they do. Others really research where they want their money to go, not blindly to some charity.
I'll take my dad for ex; yeah he's got his money invested well. And he does NOT live in Texas, I am not sure he's even been there.
In fact he lives part time in FLORIDA. (which has no bearing whatsoever on this thread, or about taxes) [email protected]
posted on February 23, 2001 09:02:46 AM new
Helen, gonna go OFF TOPIC but my friend lives right on Chesapeake Bay in MD, she said it was snowing the other day, sent me some pics of her barn etc.
We've actually been looking at houses, thru the internet of course of homes over on the east coast near her. She lives in a real neat spot, and teaches horseback riding. We've been looking for awhile now
So we thought, that would be a real great place to live, my SO is about to retire, but is a programmer, and he said, yeah, we need to check it out back there. I do love my state but in MD where she lives, looks great, and housing, compared to Seattle-Whew much more inexpensive out there! But it HAS to be on the water, because of the boat, or he won't budge LOL!
(OK I really went OT there! LOL)
About CA has 2 strikes, now that seems tougher than our 3 strikes. Not sure when all this started, but it does sound like a good idea..... [email protected]
posted on February 23, 2001 09:09:21 AM new
NearTheSea
Living on the Chesapeake Bay...affordable
only to millionaires...But the best place
on the East Coast!
We have a boat on the Severn River, running
off the Bay and spend a lot of time there.
I'm sure that you would love it!
posted on February 23, 2001 01:55:40 PM newjamesoblivion: Who will pay me to destroy my wheat field, asked the hard-working real American Little Red Hen?
Amen, jamesoblivion!
And:
"Who will help me plant the wheat, harvest the wheat or cook the bread for $17,000 a year and no benefits?," asked the little red corporate hen?
"I will---I have no choice---I need a job," said the worker.
"Who will buy the bread for an outrageous price beyond your means?" asked the little red corporate hen?
"Me," said the worker, turning his empty wallet upside down, "but would you consider dropping the price?".
No said the little red corporate hen, you planted the wheat, you harvested the wheat, you baked the bread, but I've got to make a profit.
posted on February 23, 2001 02:16:24 PM new
"Who will help me plant the wheat," asked the little red hen?
"I Will," said the Federal Govt subsidy for huge multi-national agri-business.
"Who will help me harvest the wheat," asked the little red hen?
"I will," said the tax payer subsidized capital equipment write offs and transportation systems.
"Who will help me cook the bread," asked the little red hen.?
"I will," ." Said the tax payer subsidized capital equipment write offs and transportation systems.
"Who will help me eat the bread," asked the little red hen?
No one but me, cried the little Red Hen, after all, I produced it with the help of no one.
No said the American tax payers, we helped pay for the transportation system that created a market for your wheat and opened up the land on which it grows, the court system that upheld your contracts and patents, and prevented monopolies that would crush you in a NY minute as well as your right to participate in iterstate commerce, the communication system that created your market, the military that protects international lines of commerce, the research that made your land and crops the most productive in the world, the police force that protects you from the criminal hen who wants to kill you and take your land.
With that the tax payers turned on the little hen, took the smallest portion of her wheat as a tax which is the smallest tax in the industrialized world, leaving her more than she could ever eat and enough to sell on the market to fund next years crop and fund her IRA account, and buy a new car and house.
But wait said the little Red Hen and her like situated friends. I would rather receive these benefits for free rather than pay taxes !
So Red Hen and her friends started a PAC. Now Red Hen and her friends pay no taxes.
The school system failed, the roads went unrepaired, the military failed, the courts are for sale, as is the police force.
Once the system crashed, Red Hen blamed it on the welfare system.
Now the system is crashing around Red Hen, and she blames it on moral decay.
When the system finally grinds to a halt, Red Hen has no one to blame but herself and her friends. Now she wishes she had did her fair share to support a system that did much and asked for very little.
posted on February 23, 2001 02:19:51 PM new
"No said the little red corporate hen, you planted the wheat, you harvested the wheat, you baked the bread, but I've got to make a profit."
The corporate little red hen replied, "I have to pay workers comp, half your social security and medicare, I have to pay income taxes, sales taxes, inventory taxes, I have to pay overhead for the bakery, I have to buy fertilizer for the field, I have to buy tools, I have to buy seed and yeast, I have to pay for advertising, packaging, and of course product liability, If you can get these items lowered then perhaps we could both make more money and lower prices."
"Duh, I don't know nothing about any of those things, " replied the worker. "I just want more money and cheaper bread."
posted on February 23, 2001 02:54:55 PM new
But even after paying all these things, Red Hen had profit in the billions. Yet she still wishes to pay no taxes.
