Author Topic: Richest Are Leaving Even the Rich Far Behind (Read 4530 times)

rpm · « **Reply #30 on:** June 06, 2005, 09:13:59 PM »

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Originally posted by RedTop
15% is my thought...along with a national sales tax of about 5% on everything. No Deductions....Nothing. Just pay and go on.

I could do without the national sales tax part. Other than that, you're right on the mark. It's a fair and equal burden.

RedTop · « **Reply #31 on:** June 06, 2005, 09:15:06 PM »

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Originally posted by Lizking
Redtop, your concept of "income" is sorely lacking. I can make my income whatever it needs to be, with no impact upon my personal lifestyle.

Your prolly right cause I do things honestly:eek:

My income is paid to me by a real pay check. I cant hide it. Or maybe it's that I don't know HOW to hide it?

At any rate it is just a thought.

Lizking · « **Reply #32 on:** June 06, 2005, 09:22:55 PM »

That is what I mean, and no offense intended. For a large portion of the population, that paycheck is subject to many and various ways to be totaled, and there is nothing unethical or illegal about it.

rpm · « **Reply #33 on:** June 06, 2005, 09:29:37 PM »

But Liz, you are talking about cheating and tax evasion. We are talking about the amount that is fair across the board. We all know what the penalties are for those caught cheating the IRS. They take your goodies away from you, sell them to the highest bidder and give you a jail sentence if you don't pay up.

Lizking · « **Reply #34 on:** June 06, 2005, 09:32:24 PM »

It is not cheating, it is good business. What you are implying is that the ability to have capital to invest is wrong, which is the basic tenent of socalism.

Investment and return are not cheating, or unethical or illegal.

RedTop · « **Reply #35 on:** June 06, 2005, 09:32:28 PM »

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Originally posted by Lizking
That is what I mean, and no offense intended. For a large portion of the population, that paycheck is subject to many and various ways to be totaled, and there is nothing unethical or illegal about it.

Absolutley no offense taken my ALMOST fellow Austinite.

I work for the State...so there ya have the Pay Check thing.

rpm · « **Reply #36 on:** June 06, 2005, 09:51:50 PM »

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Originally posted by Lizking
It is not cheating, it is good business. What you are implying is that the ability to have capital to invest is wrong, which is the basic tenent of socalism.

Investment and return are not cheating, or unethical or illegal.

And an equal across the board tax on that return is not socialism.

Lizking · « **Reply #37 on:** June 06, 2005, 09:56:53 PM »

But capital does not involve mere money. that is where the rich REALLY get rich from a "fair" flat tax, while the no capital poor get screwed like a mangy cat.

RedTop · « **Reply #38 on:** June 06, 2005, 10:05:32 PM »

Well.....lemme ask this.

What about possibly say 2-3 brackets. Still no deductions.

Lets say..0.00 - 35k 10 percent

36k- 100k 15 pecent

101k and up 18 percent

No loopholes. Just pay each month you get a PAY check.

As far as money made on investment , don't you both think there is an easy way to clean up all the mess that is involved with that stuff?

Silat · « **Reply #39 on:** June 06, 2005, 10:06:43 PM »

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Originally posted by Gunslinger
yes silat we all know this liberal rant.
1. Being rich even if you started with nothing is bad
2. No one should ever have that much money.
3. These people don't ever do anything for society except collect interest.

Truth be told this is simple math. You make more money when you HAVE more money.

Facts are now a liberal rant? What college taught you that?

J_A_B · « **Reply #40 on:** June 06, 2005, 10:07:42 PM »

I dont like a flat tax. The richest SHOULD pay more, if government is going to insist on growing and spenmding more. They can sustain it better.

For a guy making $20K a year, $3K is a pretty signifigant burden.

On the other hand, a guy making $10 million a year probably isn't going to be sweating from paycheck to paycheck if he has to live on $8.5 million...or even $5 million

J_A_B

Silat · « **Reply #41 on:** June 06, 2005, 10:08:09 PM »

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Originally posted by Lizking
Individuals. If you look at the early spending of the government, and the thought behind it, you will realize that one of the most basic tenents of our nation is that individuals will not benefit from the government, other than for services rendered. Organizations are not individuals.

Corporations are individuals. Ask an attorney if you doubt that. They receive welfare.

Lizking · « **Reply #42 on:** June 06, 2005, 10:13:44 PM »

Let me give you a simple example, which is not really simple.

I own a small company, assembling widgets into units, which I then sell. In a bad year, I do not invest capital into the business, nor increase my biggest variable cost (wages). My income is X.

In a good year, I buy equipment and increase my largest variable cost (wages) to lower the triple-net income. Result:

I pay the same or less taxes, but the employees pay increased taxes because of the thier increase in income. My paycheck income is the same, but my capital is increased.

Gunslinger · « **Reply #43 on:** June 06, 2005, 10:16:31 PM »

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Originally posted by Silat
Facts are now a liberal rant? What college taught you that?

fair enough....

Fact: the rich are getting richer.

Fact: That's not hard to do using very simple math

Fact: The liberals hate this

RedTop · « **Reply #44 on:** June 06, 2005, 10:18:18 PM »

Ok Liz...got it I think. (Economics isn't my bag really)

wanna talk Golf...now that I hang with all day....anyway...

If you invest your money back into your business , you as you said made no more money personally. Though you increased your "worth" it's still tied up. Right?

So in essence you still pay taxes on what YOU made.

If you were to sell that business or make money off of small pieces of selling part of it , then you would have to pay on that right?

So you would STILL pay eventually. Right?