Posted on 08/06/2011 11:11:18 AM PDT by COBOL2Java
Tax the rich or thou shall not covet other people’s stuff. Choose this day whom you will serve.
Tax the rich only works if you define rich as anyone making more than $40,000.
Most everyone knows that. Most everyone will also soon know what the real objective is.
Facts once again getting in the way of the propaganda!
...and the number of rich certainly isn’t increasing.
Got a job? You're "the rich."
The rich is anyone making more than you.
"tax the rich"..."tax the rich"
even from the President's Peeps...would find they were "out of style..so over" in their marketing of bumper sticker rhetoric.
These leaders have no plan and/or original thought in their heads.
“Taxing the rich” has never been about balancing the budget or reducing the deficit.
Cold hard facts to Democrats are like sunshine to a vampire.
After you eat the rich then you eat the middle class..
When everybody is poor the poor eat each other..
Socialism is cannibalistic.. parasitic or both.. at different stages..
I've always been in the latter, even when I was making <$40K. Watch what they do, not what they say. One exception in the past 20 years: The "Bush Tax Cuts." My taxes really did go down. But that was the one time.
Yeah, I’m in that range too. I’ve been overseas long enough not to pay US tax but the Aussies get me anyway. LOL
“Doubling federal income taxes for everybody would raise $1.1 trillion, $400 billion shy of the deficit.”
In that case Medicare, Medicaid and Social Security benefits will need to be cut. Rush will not admit this of course - don’t want to upset the audience or the sponsors.
RepvCooper Rat Tennessee told Neil Cavuto you can’t tax the 51% that pay no taxes because they don’t have any money.
While it is true they have less, there s a hell of a lot of them. a hundred bucks here, a hundred bucks there, pretty soon you’re talking real money
Tax the 51% Eliminate the income tax and institute the flat tax or something on consumption
So one day we were talking about taxes, and he said the rich don't pay their share, yada yada yada...the middle class blah blah blah. So I asked how many kids he had (I already knew, 2). I then pointed out that the government spends about $11,000 per student on public education. I then asked how much his property taxes were. About $6k. I said $22k is alot more than $6k, and SOMEBODY ELSE was paying HIS SHARE for HIS KIDS. And I doubt it was another "middle" class person as they'd be in the same boat he's in.
We then talked about income taxes. He told me he was probably in the 28% tax range.
I pointed out that this years deficit alone was $1.6 TRILLION, and that there was about 310 million people in the US. That comes to $5,160 for EVERY man woman AND CHILD. I then, on paper, listed his approximate income, deducted for his standard exemptions, property tax, mortgage interest, union dues, 401k, work clothes. Then I figured his tax payment. He had no clue about the different tax rates and levels they kicked in at. I then used the married filing jointly vs single tax rate, and the adjusted gross inc vs gross inc. Well, with his adjusted gross income he ALMOST made it out of the 15% bracket,and his yearly taxes didn't even cover his share of the deficit for him and his wife, let alone his kids. And that was JUST the deficit.
About a week later, he was scoffing at me about the "teabaggers" and the debt ceiling, and once again spewing CNNs talking points.
I then mocked his mental capabilitilies, and asked him if he ever got past remedial Jr High math. He snarled "yes, of course".
So we did basic math. Took $100,000 as a random starting point for investment, had a 15% return (as all investers make HUGE returns) which means a $15,000 return. We taxed that at 35%, which he thinks all investments should be taxed at. We took the remainder and copied the previous calculations, so that we'd have 2 theoretical tax years.
We then took $100,000 and had a return of 15% but taxed that at 10%. Well it was obvious that there was more tax revenue at the 35% rate than the 10% rate. I then continued the earning and taxing cycle until the 10% tax revenue matched the first 35% tax revenue, about 12-15 cycles, I forget. Then I went one more, and low and behold the tax revenue earned increased faster under the 10% tax bracket than the 35%, once the 10% had caught up to the 35%.
My coworker said we couldn't cut taxes that much now. I made the point that he likes to denounce the Reagan tax cuts, and that we should still be at those rates. That the tax revenues today, are because of the tax cuts done years ago.
He's been rather quiet lately, and nowhere near as smug.
I think he's finding out that "teabaggers" aren't as stupid as he thinks. And that he's not quite as smart as he thinks he is.
Its kind of hard to tout someones superior knowledge and understanding of a subject, when they don't even know the basics by which the subject is defined. Its even harder to deride an obviously stupid "teabagger" when the "teabagger" knows stats and facts and their usage, from memory, and they can't.
Everything he "thought" HE KNEW, I think he's beginning to realise he doesn't "understand" as much as he thinks. Its one thing to spout rhetoric. Its another to prove it.
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