Tax Breaks for those over $250,000

dusty · Post by **dusty** » Sun Dec 16, 2012 6:58 pm

skou wrote:Dusty, most small business owners run them as a single entity with their personal accounts. That $250K could be the small shop owner's total gross profits. And, if it is, kiss that business goodbye.

And, all his (or her) employees, too.

Congress is the only group of people that make more than their employers! I've never gotten a job from someone making less than me!

If you would like to see the thought behind these actions, look up the Cloward and Piven theory. And, tell me that BHO is not trying to accomplish this.

steve

If $250K is gross profit, that small business had a pretty good year. If it is gross sales, the year is definitely not so good.

charlese · Post by **charlese** » Sun Dec 16, 2012 7:04 pm

dgale wrote:That's why I said "rate" - obviously they pay more in actual dollars.

Yes, Right on! Since the Higher rates are applied (with exceptions) to those with higher income. Many politicians love to point out that a rich guy payed a lower rate than the average Joe.

Many folks, hearing this, fail to realize the rich guy paid thousands of dollars more than the average Joe.

As I hear in local conversations, the word rate is very confusing to many.

dusty · Post by **dusty** » Sun Dec 16, 2012 7:11 pm

charlese wrote:Yes, Right on! Since the Higher rates are applied (with exceptions) to those with higher income. Many politicians love to point out that a rich guy payed a lower rate than the average Joe.

Many folks, hearing this, fail to realize the rich guy paid thousands of dollars more than the average Joe.

As I hear in local conversations, the word rate is very confusing to many.

We often hear and discuss what low rates some people pay. What we seldom hear are comments about how much those rich folks contribute to charity and worth while organizations.

Check out what Bill Gates does with a very large part of his money.

skou · Post by **skou** » Sun Dec 16, 2012 7:35 pm

dusty wrote:If $250K is gross profit, that small business had a pretty good year. If it is gross sales, the year is definitely not so good.

The store I work at, has about 25 people there. (23 employees, and 3 owners) It also has a 35000 SF building. Those expenses come out of the "profit" column. 250K is NOT a good year, here.

Charlese, you and Dusty make a great point. My brother, in his 50K bracket, has a higher rate than, let's use, Mitt Romney.

BUT, wanna compare tax bills? Mitt pays about 10 times as much, as my brother even makes. (If not TONS more.) 15% of a few million is a LOT more than whatever my brother's rate is.

Also, you wanna get a big chuckle, check out BHO and JoeB contribute to charity. We all know that Mitt is contributing 10%, if not more.

steve

fjimp · Post by **fjimp** » Sun Dec 16, 2012 7:58 pm

As a sole proprietor my gross sales were great, somehow a client managed to find out what my gross sales were one year. I ended up having to suggest that client find a new agent. He refused to understand that gross sales and gross profit were so different. First he called me a lair then demanded a substantial discount. I always wondered how a such a greedy man survived in the field of medicine.

skou · Post by **skou** » Sun Dec 16, 2012 9:40 pm

Gene Howe wrote:This thread seems to be further evidence of the need for a VAT to REPLACE the income tax and all of it's inequities.

Gene, I LIKE this method. You're not taxed, until you SPEND the money. If the rich want to play rich, they pay more. If they save, they save more, or even earn on their savings.

But, you'd end up losing BUNCHES of government jobs. Oops, sorry. Barry has already thought of that. The IRS is enforcing Obamacare now.

steve

dusty · Post by **dusty** » Mon Dec 17, 2012 4:14 am

skou wrote:Gene, I LIKE this method. You're not taxed, until you SPEND the money. If the rich want to play rich, they pay more. If they save, they save more, or even earn on their savings.

But, you'd end up losing BUNCHES of government jobs. Oops, sorry. Barry has already thought of that. The IRS is enforcing Obamacare now.

steve

Thanks to a Supreme Court ruling making the fees "taxes".

derekdarling · Post by **derekdarling** » Thu Dec 20, 2012 2:00 am

heathicus wrote:What does it matter how much someone makes? Shouldn't everyone be as equally entitled to keep THEIR money?

OK, but how about paying for the education infrastructure that educated you so that you could make that money? How about the centuries of military spending that kept your country free so that you could make that money? How about the roads and police and firefighters and other public servants that keep the country running? How about your obligation, and yes I do mean OBLIGATION to support the widows and orphans in your community? How about feeding the hungry, clothing the naked, visiting the sick, comforting the lonely.

Remember taht is the 'rich', and by this I mean the 'wealthy' did what almost all major religions ask of them, and help those less fortunate, then perhaps the government would not have to force you into paying for it... and having to have someone else write the specs.

Please believe that I am not meaning this to be personal, only that I have always been taught that the only good reason for wealth is so that you could help someone else. Don't we all look up to those who, after accumulating wealth, give it all away?

There, I feel better now!

major_bob · Post by **major_bob** » Thu Dec 20, 2012 9:17 am

derekdarling wrote:OK, but how about paying for the education infrastructure that educated you so that you could make that money? How about the centuries of military spending that kept your country free so that you could make that money? How about the roads and police and firefighters and other public servants that keep the country running? How about your obligation, and yes I do mean OBLIGATION to support the widows and orphans in your community? How about feeding the hungry, clothing the naked, visiting the sick, comforting the lonely.

Remember taht is the 'rich', and by this I mean the 'wealthy' did what almost all major religions ask of them, and help those less fortunate, then perhaps the government would not have to force you into paying for it... and having to have someone else write the specs.

Please believe that I am not meaning this to be personal, only that I have always been taught that the only good reason for wealth is so that you could help someone else. Don't we all look up to those who, after accumulating wealth, give it all away?

There, I feel better now!

It is those very same "rich" that are paying the most in real estate taxes to send your children to school (while also paying to send their's to private schools). It is the "rich" that invest in tax free municipal bonds in order to built those schools, roads, bridges, and water treatment plants. It is the "rich" that donate millions of their personal wealth to churches, hospitals, research centers, the arts and orphans . It is the "rich" that are already paying about 50% in federal, state and local taxes. Confiscation by the government of working capital that would create jobs is not helping the community.

Finally "giving away the wealth" should be a choice by that individual and their family. Not taken away by threat of the law.