Let the good times roll for the upper-class!

[Flubber]

Originally posted by Zkribbler



Q: If you made over a million dollars last year to add to your already incredible wealth, and as a the result of this tax break, you received $41,977 more than you were expecting: (a) how would your lifestyle change; (b) how would the country benefit?

1. Why do you assume pre-existing incredible wealth? Why not assume I am a new internet millionare (on income only ) with 2 million in debts and caring for 18 unwanted orphans.

2. I don't necessarily support this or any tax break in the US right now. I believe that tax breaks when running large deficets are irresponsible. However if breaks are to come they should be dome proportionally UNLESS there is a concious decision to make the system even more sharply progressive than it is now

3. ITs the wonder of a free society that if I earn money -- I don't have to explain to anyone what I will do with my share once I have paid my taxes. IF I want to be frivolous that is my absolute right

[Zkribbler]

Originally posted by Flubber
1. Why do you assume pre-existing incredible wealth? Why not assume I am a new internet millionare (on income only ) with 2 million in debts and caring for 18 unwanted orphans.

Sorry...if you're trying to care for 18 unwanted orphans, you won't have time to run your internet company, which as a result goes bankrupt...and just to put the icing on the cake, your orphans are repossessed.

[MrFun]

Originally posted by DAVOUT
It would be immoral to fiscally save 40000$ out of a 10000$ income.

Thank god that is not what I argue for.

[SlowwHand]

Originally posted by Zkribbler


Sorry...if you're trying to care for 18 unwanted orphans, you won't have time to run your internet company, which as a result goes bankrupt...and just to put the icing on the cake,your orphans are repossessed.

I know it's a serious thing, but I laughed on this one.

[Kuciwalker]

Originally posted by Zkribbler
Q: If you made over a million dollars last year to add to your already incredible wealth, and as a the result of this tax break, you received $41,977 more than you were expecting: (a) how would your lifestyle change; (b) how would the country benefit?

Large numbers of people each investing $41k more is the benefit to the country.

Asking about an individual is inane.

[Sava]

your orphans are repossessed.

[Zkribbler]

Large numbers of people each investing $41k more is the benefit to the country.

You're assuming:

(1) they're investing in this country, not abroad.
(2) they're not using the money to buy out competitors, thus reducing competition, leading to increased prices and decreased services, and...
(3) increased investing results in a greater economic benefit than increased consumer spending.

[Sava]

Originally posted by Kuciwalker


Large numbers of people each investing $41k more is the benefit to the investors.

Fixed.


There's only so much capital. Removing some from the federal budget, when there is already enormous debt, and then giving it to people who don't need the money... well... that's to nobody's benefit.

And anyone who thinks it's of any benefit to "the country" is a complete moron.

[Kuciwalker]

Originally posted by Zkribbler
You're assuming:

(1) they're investing in this country, not abroad.
(2) they're not using the money to buy out competitors, thus reducing competition, leading to increased prices and decreased services, and...
(3) increased investing results in a greater economic benefit than increased consumer spending.

Possibly. More likely I'm just trying to get you to stop being retarded and actually make vaguely decent arguments, rather than evangelizing supply-side economics.

edit: Sava still needs more work

edit2: that's me evangelizing supply-side, not you

[Zkribbler]

Right. I evagelize demand-side economics

[Kuciwalker]

See my edit for clarity.

[Sava]

Originally posted by Kuciwalker

make vaguely decent arguments

You should take your own advice. Not that your arguments are bad... it's that they are non-existent. Your first post consisted of calling MrFun a tool. Your second post contained a statement, which you don't support with anything.

So let us know when you have an informed thought on the subject.


KTHX

[Rufus T. Firefly]

Originally posted by Flubber


Don't be dense-- Perhaps proportional to TAXES PAID not income

The guy that makes 20 k doesn't pay tax on all his earnings-- with a wife or mortgae or whatever is deductile in the US, I bet many people that make 20K pay NO TAX-- IN Canada you can make something like 10K with no tax even if you have NO other deductions

Lets pretend for a moment that the above dollars reflected a 10% decrease in all tax rates.

a 2 buck saving could be 10% of an average 20 dollar tax bill while the millionare saving 42 K could be because he PAYs 420K

Thats probably not the case which is why I asked if anyone had the amounts people pay AFTER the tax cut is factored in . . .

So very, very wrong.

Let's take two people, one making $50,000 and one making $1,000,000.

Let's say they're both single, childless, and take the standard deduction.

The guy who makes $50k takes the $5k standard deduction, then pays taxes on the remaining $45k. He pays $7,921 in taxes.

The guy who makes $1 million takes the standard $5k deduction and pays taxes on the remaining $995k. He pays $328,719.50 in taxes.

Using the more conservative numbers (that is, assuming each guy is at the upper end of the lower bracket, rather than the lower end of the upper one), our first guy would save $46 which is a .58% tax cut. Our second guy would save $5562, which is a 1.69% tax cut.

In other words, the rich guy's tax cut is ~ 3 times the size of the middle-class guy's cut, as a proportion of their taxes currently paid.

"Proportionate" my ass.

[Zkribbler]

Originally posted by Kuciwalker
...I'm just trying to get you to stop being retarded...

Ain't gonna happen. Being retarded is required for membership in the Democratic Party.

[Flubber]

[QUOTE] Originally posted by Rufus T. Firefly


So very, very wrong.


[QUOTE]

Interesting-- I supposed the cut could be proportionate and ASKED for the very type of analysis you then provided-- yet you seem to heap scorn on me--

Do you have a reading comprehension problem ?