That Obama guy

[Cubano]

I am! You all need to start handing me 20% of your paychecks since I'm poor now. I mean let's just take out the government middle man, mmmmkay? Hand it over! Share the wealth!

 

 

Poor people through the history, past and present, organize violently or peacefully to take things away from the rest. In the USA, it is done through elections and tax policy.

[lostfan]

Poor people through the history, past and present, organize violently or peacefully to take things away from the rest. In the USA, it is done through elections and tax policy.

Kap wasn't being serious with that post.

 

Modern capitalism (meaning the last 100 or so years) includes progressive taxation. That is NOT socialism.

Edited January 30, 2009 by lostfan

[scenario]

Rich people do not pay taxes. They pass along their extra cost to the masses.

 

I'm a financial advisor...

 

And I can assure you that rich people pay taxes.

 

In fact, most of them pay ALOT in taxes.

 

In retirement, income tax is far and away the single greatest expense most wealthy people have.

 

And when they die, most wealthy people end up leaving 30-50% of all of their assets to Uncle Sam due to estate taxes.

 

So... there seems to be this belief that wealthy people don't pay taxes, but it simply is NOT true.

 

If it were true, most accounting firms and financial planners would go out of business.

 

[lostfan]

I'm a financial advisor...

 

And I can assure you that rich people pay taxes.

 

In fact, most of them pay ALOT in taxes.

 

In retirement, income tax is far and away the single greatest expense most wealthy people have.

 

And when they die, most wealthy people end up leaving 30-50% of all of their assets to Uncle Sam due to estate taxes.

 

So... there seems to be this belief that wealthy people don't pay taxes, but it simply is NOT true.

 

If it were true, most accounting firms and financial planners would go out of business.

I think he meant to say rich people shouldn't pay (more) taxes.

[Nixon]

Cubano is right. You have to create your own opportunities in this country. If you're not motivated enough to improve your situation you should do America a favor and get your genes out of the population ASAP.

[scenario]

I think he meant to say rich people shouldn't pay (more) taxes.

 

Well... then in the words of Emily Litella... "Never mind."

 

 

"What's all this about conserving America's natural race horses?"

Edited January 30, 2009 by scenario

[BigSqwert]

So I guess if you're one of the 20K that gets laid off from NEC and struggle to find a comparable job because no one is hiring anymore...you must be lazy.

[lostfan]

So I guess if you're one of the 20K that gets laid off from NEC and struggle to find a comparable job because no one is hiring anymore...you must be lazy.

How about those lazy ex-Caterpillar workers in Peoria?

[Nixon]

So I guess if you're one of the 20K that gets laid off from NEC and struggle to find a comparable job because no one is hiring anymore...you must be lazy.

You must be if they decided you were worth letting go.

[BigSqwert]

You must be if they decided you were worth letting go.

Touche

[Soxy]

They need to get their butts moving and find other jobs or work part time.

 

Rich people do not pay taxes. They pass along their extra cost to the masses.

I work three jobs and cleared less than 20k last year. I paid income tax (I will get a small refund, but it is in no way the full amount of federal taxes I paid throughout the year), sales tax, school tax, property tax.

[southsider2k5]

I'm a financial advisor...

 

And I can assure you that rich people pay taxes.

 

In fact, most of them pay ALOT in taxes.

 

In retirement, income tax is far and away the single greatest expense most wealthy people have.

 

And when they die, most wealthy people end up leaving 30-50% of all of their assets to Uncle Sam due to estate taxes.

 

So... there seems to be this belief that wealthy people don't pay taxes, but it simply is NOT true.

 

If it were true, most accounting firms and financial planners would go out of business.

There are a ton of numbers that back this up by the way...

 

[Gregory Pratt]

I think this belongs in the 'buster, and also, I disagree with your second point. Saving is what caused the great depression. Spending wisely creates other opportunities.

 

I'd like to see your sources on the italicized.

[bmags]

no one is arguing that scenario, but in this thread cubano has said both that poor people pay no taxes and that rich people pay no taxes, Both are obviously incorrect. I don't know why we always have to argue for the lowest common denominator or the worst extremes, People are working hard. Sometimes the government needs to make up for the demand in different markets in times like these. It's not socialism.

 

I don't really pay anything except local taxes, however, I'll say that.

[Kyyle23]

I work three jobs and cleared less than 20k last year. I paid income tax (I will get a small refund, but it is in no way the full amount of federal taxes I paid throughout the year), sales tax, school tax, property tax.

 

You should work 4 jobs. You are obviously lazy.

[Cubano]

I'm a financial advisor...

 

And I can assure you that rich people pay taxes.

 

In fact, most of them pay ALOT in taxes.

 

In retirement, income tax is far and away the single greatest expense most wealthy people have.

 

And when they die, most wealthy people end up leaving 30-50% of all of their assets to Uncle Sam due to estate taxes.

 

So... there seems to be this belief that wealthy people don't pay taxes, but it simply is NOT true.

 

If it were true, most accounting firms and financial planners would go out of business.

 

 

I know rich people pay taxes. The government want their little fingers on everyting. However, many times rich people with business just pass the extra cost to the rest. How about tax shelters? Rich people know the system and get away with it.

 

I work for Warren Buffet. He has said he pays less in taxes than his secretary.

 

My point is that quite often, people with less rally themselves and blame others. I came here with nothing. I knew little English and that is a big disadvantage. I do not blame X or Y for this. That was the card handed to me. I was in the refugee camps where the terrorists are. I came with nothing. I got out of the boat with my wet shoes and threw them away in the Cayman Islands. That was my stupidity. I had to take a plane barefootted as a result. I learned my lesson and those months taught me a lot.

 

As I said before, anybody can spend their money. I save mine. You listen to Obama and spend. I listen to myself and I save.

 

 

 

 

[Cubano]

If you are a business owner and Obama or Pedro come to you and says, I am raising your taxes. You say OK. Then, you past the cost to through your product to the consumers.

Edited January 30, 2009 by Cubano

[Kyyle23]

I know rich people pay taxes. The government want their little fingers on everyting. However, many times rich people with business just pass the extra cost to the rest. How about tax shelters? Rich people know the system and get away with it.

 

I work for Warren Buffet. He has said he pays less in taxes than his secretary.

 

My point is that quite often, people with less rally themselves and blame others. I came here with nothing. I knew little English and that is a big disadvantage. I do not blame X or Y for this. That was the card handed to me. I was in the refugee camps where the terrorists are. I came with nothing. I got out of the boat with my wet shoes and threw them away in the Cayman Islands. That was my stupidity. I had to take a plane barefootted as a result. I learned my lesson and those months taught me a lot.

 

As I said before, anybody can spend their money. I save mine. You listen to Obama and spend. I listen to myself and I save.

 

you keep talking about people placing blame. Nobody has done that. your situation is unique to say the least, and to try and use it for a rule of thumb for everyone is frankly not realistic

[Cubano]

Now, let me keep going. All these people that came to Washington D.C. for the inauguration. I bet you many of them are in debt and/or take government help. They had to spend in plane tickets, hotels, meals, transportation, etc. Why did they do that? I am sure many are in a bigger hole now.

Edited January 30, 2009 by Cubano

[lostfan]

http://en.wikipedia.org/wiki/The_Wealth_of_Nations

[BigSqwert]

I am sure many are in a bigger hole now.

How did you become omnipotent?

[Cubano]

How did you become omnipotent?

 

Since I am paying lot of money in taxes to support a war in Iraq and others in the USA that went to see Obama when I am sure many do not have the means to do it.

 

[bmags]

Cubano, you're extrapolating quite a bit. How many people went there, lets say 200,000, this is a nation of 300,000,000, so... you think that far less than 1% of our population could not afford to travel to Washington for a few days?

[lostfan]

Cubano, you're extrapolating quite a bit. How many people went there, lets say 200,000, this is a nation of 300,000,000, so... you think that far less than 1% of our population could not afford to travel to Washington for a few days?

2 million went, easily. You saw the reported 1.5 million on TV, there were several hundred thousand more in the streets.

[SouthsideDon48]

Since I am paying lot of money in taxes to support a war in Iraq and others in the USA that went to see Obama when I am sure many do not have the means to do it.

 

Cubano, you seem to be pretty ignorant about America.

 

The majority of the people in this country struggle, even the middle class is disappearing.

 

Think of the Food Pyramid, that's exactly how wealth in this country is split up. The richest 2% (the superwealthy) of this country make up the tip of the pyramid, followed by the upper class, then the middle class (which is shrinking), and the vast majority of Americans make up the bottom of the Wealth Pyramid at the base.

 

You seem to think that most Americans have money, and that's delusional. Sure, the poorest American has more than the poorest Cuban in Cuba, but when it comes to cost of living in America it's not easy.

 

And many people work multiple jobs just to make ends meet. Here in America, if you're not born into a rich family, then you're gonna struggle in life.

 

The whole idea of "working hard and making lots of money" is just an unrealistic vision of America that a lot of immigrants have of this country. The real quote should be, "Working hard just to make ends meet."