It isn't going to kill anyone but take someone earning $500K. He Is left with 300K post tax now as opposed to $315K, now I know 99% of society cannot feel sympathy for that person. Society is full of haters, but for a man who worked hard to get there that $15K is $1200/month. That's a lease on an S class benz or 3-4 vacations a year. I am not an employee of a publicly traded company, my compensation comes in the form of salary. There are no long term compensation benefits at low tax rates. Everything I get paid is taxed.Will I still be able to afford vacations and dinners? Sure that's not my gripe. My problem is with the thinking," Well he makes so much what's taking a little more, he won't suffer." Again society won't be on my side but I'm not a bad person. That extra $15K a $500K earner is taxed hurts someone like me who currently has 20 kids in Yougoslavia I'm supporting for $50/month each. My money sends them to school,clothes and feeds them. That is $12K a year, now Obama wants to put limits on how much charitable contribution is tax deductible. It must stop with this guy, rich people are not bad people. A few of them are, but for the most part they are hard working, honest people who've had quite a bit of luck in life, there is no need to punish them for that.
Because the less you make the less money you have that's disposable. The more of it you need to spend on basic cost of living expenses. I'll talk about 10% just to make the numbers nice and round. If someone makes 20K a year and has to pay 2K in taxes, that's much harder to live off of than someone who has to go from 500K to 450k. The life style won't have to change that much from the 500-450 person, but the 20-18 person has made a tough position even harder. Plus we've seen that tax refunds to people on the lower end of the bracket goes back into the economy, while those on the upper end of the bracket, the money will go into savings.
I don't understand this statement. If a tax decrease effects me then yes I'm cheering that my money is being less effected, who wouldn't. This is a democracy though, right? If you let the majority of people, the majority being those who don't make more than say $100k/year "vote" on what to do with the minority's (rich people's) money then what do we expect to happen. Income redistribution is simply part of the evolution of any democracy.
I'm sorry the majority of jobs lost during this downturn are worthless jobs held by worthless people who have no real skill. Costco is my favorite example, why on earth do they need to pay cashiers $8/hr plus run the risk of being sued when one of them slips. Instead the new costco on Richmond has 15 checkout stations, all of them self checkout computers. That is 15-20 jobs gone to technology. People with real skills like doctors,lawyers,engineers are losing jobs at a far far far fewer pace then the jobs held by dare I say poor, low income democrats who voted Obama into office?
It was a response to your "36% to 39% isn't going to kill anyone" And yes I know why a 3% raise for one class is different than a 3% raise for another class. All I'm saying is, why ask one group to sacrifice more and the rest not to? You don't have to have the same percentage tax raises amongst all the classes, but if you want to raise taxes on a group of people, raise the taxes on the others. Whether its 1%, 3%, whatever. Politics suck.
some of the most prestigious firms have laid off 5-10% of attorneys. magic circle firms have laid off up to 10% of attorneys. i think majority of lawyers are democrats though so it makes sense that they're being laid off. ConocoPhillips has laid off people and more energy companies will be laying off people. Oil services firms have laid off tons of people.
I said far fewer pace.....I know they've all laid off people but GM lost 40K manufacturing jobs. Those are jobs held down by uneducated who feel they are entitled to $30/hr pay to push buttons on an assembly line.
we layed off 5 people and have had more work done in the last 2 months than ever before. Those 5 people sucked. Obviously not the case for everywhere and good people certainly got canned also but layoffs are a way to trim the fat.
prove your statement. how is it a fewer pace. i want data on lawyers that have been laid off and manufacturing jobs that have been cut. if not stop making stupid baseless bullsh!t comments.
THAK YOU CASEYH!!!!!!!!! No company lays off someone productive. The people laid off are either underperforming or just average. I don't think top producers ever get a pink slip, in fact they get bonuses to reward them!. There are too many people who don't want to work hard or just aren't good enough at what they do.
That just not true. If they have to cut costs no one is safe. I am a top performer but due to salary freeze I didn't get a raise.
I gotta call BS on this. I work in the energy industry and if you think that the price of you product being cut by 75% in a year doesn't cause some good people to get laid off you are completely out of touch... which I'm beginning to think anyway.
Insane man I dealt with you last week and you went on your rant about children of immigrants. I have nothing to say to you, you are probably some guy who lives in the backcountry of texas. You are probably laid off from some job you held for a long time because you are one of the most bitter old men I've ever encountered. There are 2 people who support Obama 1) Those who have no money and pay no taxes and want to see the rich punished 2) The wealthy who are happy to help our country by paying for the bums I'm not sure what category you fit into. American companies are trimming the fat and dumping worthless workers, you don't like that, fine. I suppose we'll all just give underperformers jobs and chocolate coins and dance around pretending like everything is ok. O wait that's what we've done for the last half century.
in fact i bet they quit on purpose. to avoid the 3% tax hike that they wouldn't have had to pay since they probably didn't make that much money.
Prove your statement. You've done nothing but give general rants about how you hate poor people and you have not given one statement with any facts backing them up.
Why did you expect it to stay lower? The tax cutes passed by Bush and the Republicans in 2001 & 2003 were temporary - you've known for the past 5 years (or should have) that your 2011 taxes would rise back to what they were. After all, the tax cut was a temporary tax cut passes as an economic stimulus - what makes you think you have the inherent right to a permanent decrease in taxes?
There actually is incentive for these people to work. You have to work to maximize the credit. Though I agree that it is just another form of welfare. Sadly, many of them don't spend it wisely. They get a massive amount of money all at once and feel the need to spend it on wants rather than needs. When you combine that with the child tax credit, and the new make work pay credit, that family of four will receive nearly $7,500 next year in refundable credits even though they paid nothing in.
