World welcomes Obama win

#76
#76
TennTradition said:
He is probably more upset about Obama's plans for corporate taxes and tax plans in general, how this will affect the economy in his opinion, and how that will affect his paycheck more so than a direct hit on his paycheck through increased taxes. Then again, I could be completely wrong...Wednesdays are always hard days for me :)
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Bingo!
 
#77
#77
TennNC said:
and you think your taxes will be higher under Obama?

really? Show me the evidence.
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maybe they won't be, but I don't want someone who could potentially be my next employer getting shafted by by some socialist agenda to provide health care to people too lazy to get a job for themselves.

Don't you understand that someone making 250K/year has bills to pay as well and that more often than not is already paying nearly 60% of his income in taxes from all sources?
 
#80
#80
volsforever27 said:
VolunteerHillbilly said:
I have a feeling that many of the younger Obama supporters do not understand what "rich" is. I also imagine that they donot understand that truly rich people never take it on the chin. When the marginal tax rates go up, so do the number of loopholes. The wealthy hire good tax advisors (not the guy in the wrinkled shirt at an H&R Block next to the Subway) to erase their liability. The folks in the middle always get shafted whenever we decide to "tax the rich".[/QUOTE]

Exactly, plus taxing the rich even more means less spending which hurts the economy... I'm all for everyone paying thier fair sharre, but how does punishing someone who does well benefit me? Trust me, I am far form rich.
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I don't know...if this were true then it seems like a rich person was just as soon take an income tax as a sales tax. There is a lot of saving going on...I think that as far as discretionary spending goes, the rich will spend the same (unless we're talking insane 90% taxes). However, it can hurt spending in other ways - particularly if you buy into trickle down economic theory. But, I better shut up....the word economic came out of my mouth, which probably means I am wrong.
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#96
#96
TennTradition said:
...and how much of the total income do they make?
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Seek and ye shall find:

http://www.infoplease.com/ipa/A0923085.html

Percent Income Earned and Federal Taxes Paid


07alm_taxincome.gif
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