mawilson

The numbers I posted above are incorrect. I included both federal and state taxes.

Indeed, they didn't look right. Your effective federal rate shouldn't be more than 12-15%, unless you make > $200k.

State and local taxes tend to be more regressive.

So you don't pay the effective rate you suggested even on the last dollar you earn, let alone on the first dollars. That's what I thought.

I only care about the last dollar. If I take a distribution of X dollars right now, X/2 will go to the government.

The Dutch readily welcomed the Jews into New York since its founding and they have been welcome ever since.

Can any Jewish person come to America and become a US citizen? Not really.

Through the month of August? You work 8 out of 12 months just for the tax man? That means your effective tax rate is 66.67%. Obviously, I do not believe that for minute but if that is true, then you should seriously consider to fire your accountant.

On the last dollar close to 50%. Federal (35%) + state (9%) + local (4%).

On a percentage of income they pay no where near what a middle class family pays.

That's incorrect - the effective federal tax rate for most Americans is about 10 percent - lower than Mitt Romney's (whose effective rate of 13% is pretty damn low.)

http://www.youtube.com/watch?v=cwg4DB-EeEA

Nice fairy tale.

They had to say it. The question is, will they follow through with sanctions? I doubt it.

Guess what, the rich don't get - or stay - rich in a vacuum. Good luck in Somalia where you will owe $0.00 in taxes to a government that doesn't exist.

No need for such extremes - Hong Kong will do nicely. 16.5% corporate rate, 15% personal rate, no capital gains, VAT or sales taxes.

I'm not arguing for a zero rate, just a fair rate that doesn't have me working through the month of August just to pay my tax bill.

Moral of the story...Don't run from police.

Unless you can outgun them.

Such foolishness and arrogance.

They think they can just keep hitting up the same group of people for more and more cash without consequences, and leave more than half the people in this country out of it entirely.

Guess what - if you try and fuсk the rich, the rich will always fuсk you first.

You know what they say about that door on the way out, right?

See ya, have fun with all the poor.

Ah, but the rules for how our version of capitalism are to work belong not just to you and your wealthy friends but to everybody equally. We get to change those rules if we want and maybe you will not be deemed to have 'earned' your millions

And maybe I'll go and earn them somewhere else.

That's what happened in the UK - after (then-British PM) Gordon Brown raised the top tax rate on those making more than £1 million to 50%, nearly two-thirds of British millionaires fled the country to avoid taxes, fewer entrepreneurs came into the country, and the government took in lower tax revenues than it did before the increase.

You cannot keep slicing the pie giving ever larger pieces for the few and just crumbs for the many!

It's not your "pie" to "slice". If I made $1m or $10m this year, the money is mine and mine alone - not part of some imaginary pie that needs to be shared with the poor. We don't add up my earnings and your earnings and some poor schmuck's earnings and then redistribute it in a way that Comrade Obama sees fit. That's not how capitalism works. We all pay taxes (or at least some of us do) which pay for some safety nets, but that's about it.

[quote name=' timestamp='1354289094' post='5848368]

Let's just go over the cliff already. A reversion to Clinton era tax rates and a slowdown in the growth of our massive defense spending?

I love it. A short recession is a small price to pay for that kind of reset.

The President will continue to champion tax relief for the middle class and lower income groups

We need higher taxes for the middle class. They are not paying their fair share.

Ironically, not dining at those restaurants would force them not to hire any more workers and consider cutting their hours - just like they said.

Stellar performance only on profits not on revenue - read business - growth. Yes, them chickens.

But how are they "coming home to roost"? Did US companies cause the global slowdown? Chickens coming home to roost means something (bad) they did is coming back to haunt them.

I have to say, I love the idea of booting a government car, though probably not an ambulance.

It's not just China. Brazil is cooling off as well. Europe won't come back for some time. Unless US consumption comes back, it's not looking good for US companies. The chickens are coming home to roost.

What chickens? It's a global slowdown. All things considered, US companies have had stellar performance.

Apparently, they don't. US businesses have a revenue growth problem.

Because the rest of the world sucks as well. Europe is in the toilet. China has its own problems. As soon as growth picks up in other regions of the world, American companies will do very well indeed, even if domestic consumption is flat.

Wow! Something we agree on. I'm not voting for Bibi either.

Are you going to Israel to vote?

They can for a little while but it's not sustainable.

Why not, if you can grow business overseas?

Corporations made a record $824 billion in profits last year as well, while the stock market has had one of its best performances since 1900 while Obama has been in office.[/font]

Meanwhile, workers are getting the short end of the stick.

Exactly what I said - companies can be profitable with the US consumer still in the bunker.

As long as we have a consumer driven economy, it is the purchasing power of Americans that have the biggest impact on the economy. And it's not just goods, but services which are needed and can't be outsourced.

And I'm saying that American companies can do well even if the domestic economy sucks.

Hence Obama's demand-side, trickle-down-debt economics is a failure.

Which part specifically do you feel my American colleagues disagree with? Because I sure didnt get any argument except of course from you and in your case who cares about the opionons of those flag-wave for thieves and murderers who kill unarmed people then call "self-defense"?

I know this and this is for dam sure - you're sure gonna learn how to respect other people and their property over here - LOL. No bulldozers for you.......

Dude, lay off Islamic Jihad and Hamas Radio for a while. Book a flight to Tel-Aviv, maybe you'll realize that not all Israelis are bulldozing murderers. Sheesh.

Industries and occupations related to health care, personal care and social assistance, and construction are projected to have the fastest job growth between 2010 and 2020.

In America. But there's more money to be made in other countries.

That wouldn't make us any better than a third world imperialist nation like Israel.

We aren't any better. In fact, we're worse.

Manufacturing is down. Job creation over the last decade has happened mostly in the service sector - jobs that can't go overseas and they are traditionally the lower paying jobs - fast food, retail, hospitality. If the largest group of working Americans work in low paying jobs because that's where the jobs are, they need more purchasing power which in turn drives the economy - as long as we continue to be a consumer driven economy.

American companies manufacture abroad, sell abroad and keep their money abroad. Unions are obsolete.