Is 200/250K enough? What about the small business?

[Chapdog]

Do people think that higher tax rates for those over 200/250K is justified? Many argue that its the small businesses that will pay the price, but what kind of price are they really paying if they are not investing in themselves and pulling net profits of over 250k?

I say that a business gets lower tax treatment if they invest into themselves via expansion or hiring and net profits of under 250k. If your net profit is higher then this.. aka the owner is pulling over 250k out of the business.. then they should pay higher taxes.

 

[Jarod]

Do people think that higher tax rates for those over 200/250K is justified? Many argue that its the small businesses that will pay the price, but what kind of price are they really paying if they are not investing in themselves and pulling net profits of over 250k?

I say that a business gets lower tax treatment if they invest into themselves via expansion or hiring and net profits of under 250k. If your net profit is higher then this.. aka the owner is pulling over 250k out of the business.. then they should pay higher taxes.

I was against the temporary deficate exploding, economy killing Bush tax cuts when they were passed, I am certiantly against extending them. Look at the mess they are in part responsable for creating!

 

[Chapdog]

I was against the temporary deficate exploding, economy killing Bush tax cuts when they were passed, I am certiantly against extending them. Look at the mess they are in part responsable for creating!

i dont think they caused what we are in now. I think lack of regulation, too much consumer credit spending, and overall lack of driving innovation is what caused this recession.. Besides after 2 years you own it. I dont care who created what.

 

[cawacko]

I was against the temporary deficate exploding, economy killing Bush tax cuts when they were passed, I am certiantly against extending them. Look at the mess they are in part responsable for creating!

please explain to us again how individuals paying lower taxes destroyed the economy?

 

[Minister of Truth]

I was against the temporary deficate exploding, economy killing Bush tax cuts when they were passed, I am certiantly against extending them. Look at the mess they are in part responsable for creating!

 

[Onceler]

Do people think that higher tax rates for those over 200/250K is justified? Many argue that its the small businesses that will pay the price, but what kind of price are they really paying if they are not investing in themselves and pulling net profits of over 250k?

I say that a business gets lower tax treatment if they invest into themselves via expansion or hiring and net profits of under 250k. If your net profit is higher then this.. aka the owner is pulling over 250k out of the business.. then they should pay higher taxes.

I've heard people who make over $200K or $250K a year called "the wealthy," which is absolutely ridiculous, especially in the northeast & some other parts of the country.

I agree that there should be a different standard on small business; they have to improve the business climate in general...

 

[Cancel 2018. 3]

I was against the temporary deficate exploding, economy killing Bush tax cuts when they were passed, I am certiantly against extending them. Look at the mess they are in part responsable for creating!

so you don't support obama's tax cuts?

 

[Cancel 2018. 3]

I've heard people who make over $200K or $250K a year called "the wealthy," which is absolutely ridiculous, especially in the northeast & some other parts of the country.

I agree that there should be a different standard on small business; they have to improve the business climate in general...

i make that an hour

 

[cawacko]

I've heard people who make over $200K or $250K a year called "the wealthy," which is absolutely ridiculous, especially in the northeast & some other parts of the country.

I agree that there should be a different standard on small business; they have to improve the business climate in general...

Exactly, it's all relative to where you live.

And there are plenty of people who have good years and make that amount but do not earn that much consistently.

 

[Bonestorm]

I've heard people who make over $200K or $250K a year called "the wealthy," which is absolutely ridiculous, especially in the northeast & some other parts of the country.

I agree that there should be a different standard on small business; they have to improve the business climate in general...

$200,000 is over three times the median household income in practically any part of the country. Pretending that people earning three times the median household income are "middle class" is just as ridiculous, if not more, that calling them "wealthy."

And the small business crap is nonsense. The vast vast vast majority of small businesses will not be effected by letting the tax cuts expire on high income earners.

 

[Onceler]

$200,000 is over three times the median household income in practically any part of the country. Pretending that people earning three times the median household income are "middle class" is just as ridiculous, if not more, that calling them "wealthy."

And the small business crap is nonsense. The vast vast vast majority of small businesses will not be effected by letting the tax cuts expire on high income earners.

The argument is not that they are middle class. It's simply that they are not "wealthy," or even close to it.

$200K sounds like a lot to people who have never made more than $50K, but in some parts of the country, it really isn't all that much, especially for a family.

 

[Bonestorm]

The argument is not that they are middle class. It's simply that they are not "wealthy," or even close to it.

$200K sounds like a lot to people who have never made more than $50K, but in some parts of the country, it really isn't all that much, especially for a family.

Which parts of the country? Even in Boston, San Francisco and New York City $200,000 is more than twice the median household income. It may not seem like all that much, but it really is compared to what most people earn.

 

[cawacko]

$200,000 is over three times the median household income in practically any part of the country. Pretending that people earning three times the median household income are "middle class" is just as ridiculous, if not more, that calling them "wealthy."

And the small business crap is nonsense. The vast vast vast majority of small businesses will not be effected by letting the tax cuts expire on high income earners.

that's ridiculous. there is rich and there is wealthy. As Chris Rock said Shaq is rich, the white man who writes him the check is wealthy.

For a family with two or three kids that has a father periodically making $250k/yr living in a neighborhood with a medium home price of $750k that is not even close to being rich. They are also nowhere near starving but they are sure aren't on easy street.

 

[Onceler]

Which parts of the country? Even in Boston, San Francisco and New York City $200,000 is more than twice the median household income. It may not seem like all that much, but it really is compared to what most people earn.

In the places you mentioned, $200K is not wealthy, or even close. That's all I'm saying. You can live a more comfortable lifestyle than many, but I think people would be surprised at how "not wealthy" that amount is for a family in a modestly sized home in any of those areas.

Most people in that range worked incredibly hard to get to that point, so that they could start to afford a few extras for themselves & their kids. I find it incredibly offensive when people start talking about them like they're "the rich," and can pay "their fair share of taxes" (translation: see diminishing returns the harder they work & the more they get ahead).

 

[Bonestorm]

that's ridiculous. there is rich and there is wealthy. As Chris Rock said Shaq is rich, the white man who writes him the check is wealthy.

For a family with two or three kids that has a father periodically making $250k/yr living in a neighborhood with a medium home price of $750k that is not even close to being rich. They are also nowhere near starving but they are sure aren't on easy street.

OK, they aren't wealthy, but they sure as shit ain't middle class. That's all I'm saying.

And what you are describing is more a reflection of insane housing prices than it is a reflection of whether a person earning two to three times the median income in a given area can be classified as wealthy, rich or middle class.

 

[Cancel 2018. 3]

$200,000 is over three times the median household income in practically any part of the country. Pretending that people earning three times the median household income are "middle class" is just as ridiculous, if not more, that calling them "wealthy."

And the small business crap is nonsense. The vast vast vast majority of small businesses will not be effected by letting the tax cuts expire on high income earners.

if they are not middle class and not wealthy.........

 

[Cancel 2018. 3]

that's ridiculous. there is rich and there is wealthy. As Chris Rock said Shaq is rich, the white man who writes him the check is wealthy.

For a family with two or three kids that has a father periodically making $250k/yr living in a neighborhood with a medium home price of $750k that is not even close to being rich. They are also nowhere near starving but they are sure aren't on easy street.

chris rock is wrong.....BOTH shaq and his team owner are wealthy

shag gets endorsements from multiple companies and that makes shaq wealthy

 

[cawacko]

chris rock is wrong.....BOTH shaq and his team owner are wealthy

shag gets endorsements from multiple companies and that makes shaq wealthy

his comment came maybe 10 years ago. Now Shaq would probably qualify as wealthy. But as to your comment to Nigel, folks can be ranked from middle class to upper middle class to rich to wealthy. Different amounts of money in different parts of the country can put a person in different classifications.

 

[cawacko]

chris rock is wrong.....BOTH shaq and his team owner are wealthy

shag gets endorsements from multiple companies and that makes shaq wealthy

it's not that he gets endorsements, lots of athletes get endorsements, it's that he gets paid large amounts for his endorsments. He's also earned $290 million in salary over his playing career.

However with his divorce papers in 2008 showing he spent over a $1 million a month who knows how much he's actually kept.

 

[Jarod]

NIce to see you can address the points intelegently.....

Hey, you learned well, when you cant rebut something you dont like, just make fun of it.