84 replies to this topic

[raubhimself]

Frink making actual posts? Say it ain't so.

Flat taxes suck for the poor. I can see why people want a flat tax for everyone, but you have to give a really low percentage to make that work for poor people. Let's look at those brackets again...

Tax Bracket Married Filing Jointly Single
10% Bracket $0 – $17,000 $0 – $8,500
15% Bracket $17,001 – $69,000 $8,501 – $34,500
25% Bracket $69,001 – $139,350 $34,501 – $83,600
28% Bracket $139,351 – $212,300 $83,601 – $174,400
33% Bracket $212,301 – $379,150 $174,401 – $379,150
35% Bracket Over $379,150 Over $379,150

Right now I sit in the 15% bracket for a single dude. I'm relying purely on the graces of unemployment right now, and money is tight. 15% of my income for a year is equivalent to about 3 months of bills and rent. So yeah, without those taxes I'd have A LOT less to worry about. Last week I had to tell my mom, who is my insurance agent, that I can't afford to pay my insurance bills that are coming up. But if you're in the 33% bracket? Even on the low end you're still making more than $100k after takes. What will that $50k or so in taxes really do for you except be used for luxury or to increase your wealth?

Regardless of how politically fair it is, I just don't feel bad about it. I don't really complain about income tax. It sucks, but it's there, and I pay it. Even when I was making $50k/year I didn't complain. But income tax for lower class people would be better used for their straight up survival. And the rich people are the ones complaining about how unfair it is? Sorry, rich people, but you can get bent if you're gonna bitch about unfair.

I do agree with tony about tax deductions and all that malarkey though.

[TV's Frink]

Frink making actual posts? Say it ain't so.

Sorry, my joke-and-gif chip went bad and I'm still waiting for the replacement.

[Tony]

Frink making actual posts? Say it ain't so.

Sorry, my joke-and-gif chip went bad and I'm still waiting for the replacement.

those are tax deductible.

[TV's Frink]

[Jacki O.]

frink's getting all sorts of real up in here

[TV's Frink]

Don't worry, it won't last.

[JRC]

Maybe this has already been floated here, but I heard an interesting tax theroy from Jello Biafro once.
He advocated a MAX income, not a minimum, or lower taxes.
The theory being that this would lower the price of goods/service to more reasonable levels and drive up the value of the dollar.

I'm sure there's all kinds of ways to shoot that down, but at first blush it sounds pretty interesting/good.

[weener]

Anyone see This Modern World this week?

[TV's Frink]

http://news.yahoo.co..._tax_loophole_1

[Tony]

http://news.yahoo.com/s/ac/20110227/sp_ac/7945594_yankees_alex_rodriguez_takes_advantage_of_new_york_tax_loophole_1

at the risk of inciting a class war, i'm going to suggest that this article is biased and inaccurate.

1) it's a "yahoo news contribution network" article - which is basically a blog post. it's not scrutinzed like an actual news article would be if it appeared on, say, cnn.com. that said, i'm sure a-rod took advantage of a tax loophole - i don't doubt that for a second.
2) reagan didn't invent trickle down economics. and even if he did (which would have required a time machine because the theory has been around for like 150 years), the author's summary is incomplete.

either way, the author is demonizing alex rodriguez (or the wealthy in general) for taking advantage of something that the government enacted. it doesn't mention that this tax loophole is available to EVERYBODY. not just people who buy 6 million dollar penthouses.

EDIT: could he afford the extra $60k in taxes? totally. he probably wouldn't even notice it. he makes more than that every time he goes up to bat. in fact, he's probably not even aware of the loophole. the accountant who files his taxes probably checks the boxes on whatever form he's filling out and that's that. should he pay the taxes? yes, absolutely. so close the fucking loophole entirely. but don't pretend that a-rod is sitting in his office trying to think of ways to screw the city out of money. and i fucking hate a-rod. how dare you make me defend him.

[Jacki O.]

Galleon Trial Scorecard: Rajaratnam, Friends, Colleagues and Cooperators
millionaires and billionaires on the wire for tax evasion

Goldman CEO Blankfein agrees to testify at insider trading trial
On July 15, 2010, Goldman agreed to pay $550 million – $300 million to the U.S. government and $250 million to investors—in a settlement with the SEC. The company also agreed to change some of its business practices regarding mortgage investments, including the way it designs marketing materials.


just some news about rich people

[TV's Frink]

...and i fucking hate a-rod. how dare you make me defend him.

....

I don't blame A-rod. I blame the loophole.

[Tony]

Galleon Trial Scorecard: Rajaratnam, Friends, Colleagues and Cooperators
millionaires and billionaires on the wire for tax evasion

Goldman CEO Blankfein agrees to testify at insider trading trial
On July 15, 2010, Goldman agreed to pay $550 million – $300 million to the U.S. government and $250 million to investors—in a settlement with the SEC. The company also agreed to change some of its business practices regarding mortgage investments, including the way it designs marketing materials.


just some news about rich people

yeah, THAT shit is fucked up. get mad at that. and get mad at corporations that bilk investors (little people trying to get ahead) out of money and then give their CEO's ridiculous bonuses or retirement packages. that's rich billionaire boys club bullshit driven strictly by greed. everyone should play fair.

[JRC]

More on the those high income earners . . .

"For three decades we have conducted a massive economic experiment, testing a theory known as supply-side economics. The theory goes like this: Lower tax rates will encourage more investment, which in turn will mean more jobs and greater prosperity—so much so that tax revenues will go up, despite lower rates. The late Milton Friedman, the libertarian economist who wanted to shut down public parks because he considered them socialism, promoted this strategy. Ronald Reagan embraced Friedman’s ideas and made them into policy when he was elected president in 1980."

1. Poor Americans do pay taxes.

2. The wealthiest Americans don’t carry the burden.

3. In fact, the wealthy are paying less taxes.

4. Many of the very richest pay no current income taxes at all.

5. And (surprise!) since Reagan, only the wealthy have gained significant income.

6. When it comes to corporations, the story is much the same—less taxes.

7. Some corporate tax breaks destroy jobs.

8. Republicans like taxes too.

9. Other countries do it better.

[TV's Frink]

Ha, I forgot about this thread. I should remember it next time someone bitches about my lack of content.