Taxes

[Fly Rod]

Originally Posted by spence

It takes money to make money

-spence

I agree with that statement.

You work get paid a wage take a percentage of your net and when acculminate a thousand or so you invest and that money starts to make money.

You do not need to be a millionaire to be well off. Most Americans do not save and not taught to save and invest. What do we do? We buy new cars that depreciate as soon as you turn the key, boats, 4-wheelers, ski mobiles, skiing, tickets to games etc:, keeping up with the Joneses.

"What em I suppose to do to have fun." DURRRRR.

Don't give me the crap that there is only monies to pay the rent, or mortgage and diapers. People always have money for cigaretts or booze, but no money to tuck away.

Anybody that smokes has to be a millionaire.

[justplugit]

Originally Posted by Fly Rod

I agree with that statement.

You work get paid a wage take a percentage of your net and when acculminate a thousand or so you invest and that money starts to make money.

You do not need to be a millionaire to be well off. Most Americans do not save and not taught to save and invest. What do we do? We buy new cars that depreciate as soon as you turn the key, boats, 4-wheelers, ski mobiles, skiing, tickets to games etc:, keeping up with the Joneses.

"What em I suppose to do to have fun." DURRRRR.

Don't give me the crap that there is only monies to pay the rent, or mortgage and diapers. People always have money for cigaretts or booze, but no money to tuck away.

Anybody that smokes has to be a millionaire.

X 2

[buckman]

CBS fact check from last nights speach.

Fact or Fiction Number 5 - The Rich, Their Secretaries and Taxes

Treasury Secretary Geithner yesterday declined to answer a key question about the president's proposed "Buffett Rule": How many millionaires and billionaires pay lower tax rates than middle-income families?

The answer: not that many.

End of debate.

[RIROCKHOUND]

Originally Posted by buckman

CBS fact check from last nights speach.

Fact or Fiction Number 5 - The Rich, Their Secretaries and Taxes

Treasury Secretary Geithner yesterday declined to answer a key question about the president's proposed "Buffett Rule": How many millionaires and billionaires pay lower tax rates than middle-income families?

The answer: not that many.

End of debate.

How about:
1. leave the capital gains tax rate as is.
2. The carried interest, which romney (and hedge fund managers etc) gets as a slice of Bain et al.'s profits from what I understand, goes to normal income rates
3. Set some floor for closing loopholes. If you make 7 figures a year, do you really need the child or mortgage intereste deductions?
4. Continue to close more corperate loop holes.

Of course we are all out to pay the least we can all pay, but there HAS to be a structure that doesn't decimate the lower and middle class that isn't 'class warefare'....

[buckman]

Originally Posted by RIROCKHOUND

How about:
1. leave the capital gains tax rate as is.
2. The carried interest, which romney (and hedge fund managers etc) gets as a slice of Bain et al.'s profits from what I understand, goes to normal income rates
3. Set some floor for closing loopholes. If you make 7 figures a year, do you really need the child or mortgage intereste deductions?
4. Continue to close more corperate loop holes.

Of course we are all out to pay the least we can all pay, but there HAS to be a structure that doesn't decimate the lower and middle class that isn't 'class warefare'....

Sure. I do agree the middle class needs help. I think where we disagree is how it can be accomplished. I think cuts in spending will be enough.