We've had a Republican President and a Republican Congress for 8 years. We've seen massive tax breaks, massive tax cuts, shelter after shelter created for businesses...and well...maybe I'm missing something. Are things really working out the way they said it would? The banks fought to get deregulated so they could do more lending. They said it would allow those currently unable to borrow to gain property and increase their overall wealth. Wow. That worked out great. LOL
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"For I know the plans I have for you, declares the LORD, plans for wholeness and not for evil, to give you a future and a hope." Jeremiah 29:11 (English Standard Version)
I'll have to talk to Jeff to have him explain it to me again to get the skinny on his specific situation.
Remember, the burden of taxation isn't felt so much with % paid...it's felt when % paid is compared to overall cost of living at poverty level. For example taxing a person making over $200,000 a year at 19% will not put him in the gutter if he manages his money well. However, tax a working family man who makes roughly $39,000 a year at 19% and dude....he's hurtin'.
Chirs, I am not necessarly opposed to a progressive taxation system...
but you talk to your friend. I suspect he is a mirror of a guy that was in a news article I read about Warren Buffett.
Warren has a friend who makes the same boast....exactly....
the difference is, the secretary makes her money as income. the rich guy making vastly more than 200k... makes most of his money as investment return taxed as captital gain.
so in the end you are not actually making an apples to apples compairison.
That FACT is a guy making 200,000 a year in INCOME is paying 33% of his income in taxes. a family of 4 making 39,000 is in a 25% income tax bracket. however with 2 child credits, and mortgage deduductions, you are likely to fall into the 15% tax bracket.
the guy making $200K will have the same child tax credit but it will be a vastly smaller % of his income. It would be vertually impossible to use tax credits, and other deductions to lower his income into the 28% tax bracket.
I think you are a bit off on your calculations.
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Chirs, I am not necessarly opposed to a progressive taxation system...
but you talk to your friend. I suspect he is a mirror of a guy that was in a news article I read about Warren Buffett.
Warren has a friend who makes the same boast....exactly....
the difference is, the secretary makes her money as income. the rich guy making vastly more than 200k... makes most of his money as investment return taxed as captital gain.
so in the end you are not actually making an apples to apples compairison.
That FACT is a guy making 200,000 a year in INCOME is paying 33% of his income in taxes. a family of 4 making 39,000 is in a 25% income tax bracket. however with 2 child credits, and mortgage deduductions, you are likely to fall into the 15% tax bracket.
the guy making $200K will have the same child tax credit but it will be a vastly smaller % of his income. It would be vertually impossible to use tax credits, and other deductions to lower his income into the 28% tax bracket.
I think you are a bit off on your calculations.
That might be the case because Jeff was talking a lot about investments vs. what he claims as income.
Pretty interesting though...people can make that much money without paying as much in taxes as a secretary. I'm in the wrong line of work. LOL
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"For I know the plans I have for you, declares the LORD, plans for wholeness and not for evil, to give you a future and a hope." Jeremiah 29:11 (English Standard Version)
my friend if that were going to happen it should have happened a long time ago, we fought a war to establish this country over a half cent per pound tea tax, doesnt sound like much, the average person pays over 40 percent of earnings in taxes, some of us more, good night enough is enough and the dems promise to raise them higher, yeah that will help, not, lol,dt
The reason this 40-50% tax rate doesn't become more of an issue is that nearly half of the population doesn't pay ANY income taxes. In fact, if your making 0-40 grand and have several kids you won't pay a cent and STILL get back several thousand dollars. Go figure.
And Obama and Hillary's answer to rising gas prices is to increase the taxes on oil companies..... Only in the world that exists down the rabbit hole does such logic exist!
Ferd, I think it's great that truckers are taking a state. What do you think the government should do to relieve the situation or do you feel it's all too far gone?
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"For I know the plans I have for you, declares the LORD, plans for wholeness and not for evil, to give you a future and a hope." Jeremiah 29:11 (English Standard Version)
The reason this 40-50% tax rate doesn't become more of an issue is that nearly half of the population doesn't pay ANY income taxes. In fact, if your making 0-40 grand and have several kids you won't pay a cent and STILL get back several thousand dollars. Go figure.
And Obama and Hillary's answer to rising gas prices is to increase the taxes on oil companies..... Only in the world that exists down the rabbit hole does such logic exist!
The gas prices aren't going to come down. Taxing oil companies isn't going to drive the cost down, it will increase it. I don't see any other way out other than developing hydrogen, nuclear, electric, and hybrid technologies. They (namely OPEC) got us by the stones.
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"For I know the plans I have for you, declares the LORD, plans for wholeness and not for evil, to give you a future and a hope." Jeremiah 29:11 (English Standard Version)
We need to launch a war. A "War for Energy Independence". This is undermining our economy and our national security.
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"For I know the plans I have for you, declares the LORD, plans for wholeness and not for evil, to give you a future and a hope." Jeremiah 29:11 (English Standard Version)
I have doubts that a Trucker Protest will bring the price of fuel down. Wish it would, but wish in one hand and spit in the other and see which gets filled faster........
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Originally Posted by Rico
I just heard on the news that a nationwide shutdown is planned for May 5th., as a follow up to today's protest. If the truckers in this country can get organized, they have the power to shut this country down. Something like 70%-80% of our goods are delivered by truck.
If all else fails, they could try this man's approach...
A Washington, DC, man has started a movement that he believes will bring relief to people who are finding it harder and harder to buy gas just to get to work.
Rocky Twyman says nothing else has worked, so he is urging motorists to pray for lower gasoline prices when they fuel up. Twyman says he and his fellow volunteers at a church soup kitchen launched "Pray at the Pump" Wednesday at a gas station in Washington, DC.
I just heard on the news that a nationwide shutdown is planned for May 5th., as a follow up to today's protest. If the truckers in this country can get organized, they have the power to shut this country down. Something like 70%-80% of our goods are delivered by truck.
Won't happen on a wide scale. You might get about .5-1% to shut down for one day, but I don't expect much more than that. I know that will most likely be driving that day, and if I don't it won't be because I'm on strike.
Drivers like me can stop our trucks and protest all we want, but the only people that it hurts is Unregistered. An across board one day shut down is likely to cause near empty shelves for at least a couple of weeks. The stores just don't keep much stock on hand, so when they do get something in, it won't stay on the shelves long. Truckers do have the power to break the country, but we care too much to do that. You won't get any companies to shut down there trucks, the only ones that will shut down is the owner/operator or 1 truck small business.
Our only hope for the future (outside of developing alternatives yesurday) at this point is for us to drill more oil wells of our own, bring stopped wells back online, and build refineries.
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Life is to short not to expose yourself to a holy God.
We need to launch a war. A "War for Energy Independence". This is undermining our economy and our national security.
The battlefield for that "war" would be ANWR and the coast of California. There are huge untapped deposits off of Malibu. There's a huge deposit of petroleum under North and South Dakota but it may be as expensive (and messy) to recover as the oil sands in Alberta.
There are literally mountains of oil locked up in oil shale in Colorado. But you have to take down those mountains and cook the rocks to get the oil.
What we need is a technological breakthrough. A whole new way of doing things. And throwing money into projects won't make it happen. Human genius shines the brightest when things are the darkest. FDR tried to spend our way out of the Great Depresssion but it took a monster like WW2 to really bring out the best in us.
I fear government programs like the "War" on Poverty which created more poverty, or the "War" on Drugs that only served to bring both war and more drugs to our streets.
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