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Should they complain when people nowhere close to that income argue that they don't pay enough? How about when those same people are accused of exploiting and waging class warfare on the middle class and poor? There will always be rich people who are wealthy predominantly because of wealth passed on through the generations or because they operate businesses with shady practices, but there are a LOT of people who earn that level of income the right way. Luck is always involved, but most people will never comprehend the level of dedication and the kind of work ethic it takes to get there.
So glad the president compromised on tax cuts to move other issues forward… Dream Act – Fail DADT repeal – fail Ratify START - ? Jesus! Just cut it off Harry and go home for Christmas.
No, they should provide a reasonable and rational rebuttal. Sure, they can complain about this if the charges are too generalized as to implicate them directly. The problem is that no reasonable argument is refuting this. The people who are advocating for a more progressive tax system than we have now don't do so because they think all rich people are bad. The question of whether rich people "deserve" their money is actually not terribly relevant. When I hear complaints about the wealthy, I consider those to be an indictment of the people advocating the less progressive system to the benefit of the rich, not an insult to the random rich guy off the street himself.
good luck with your condo's in Downtown.. They are ghost towns and what you don't realize is the avg HOA fee. Most downtown condo's are still anywhere from 250-500k. The 250k ones are usually in the more run down part of downtown with no views. Also what you will discover is the outrageous HOA fees. The average HOA fee in Downtown san diego is anywhere from $500-$800 a month!! Also a larger newer condo in La Jolla is still 500k.
hmm I am really curious on what you mean by the burden falls on the poor? Can you please explain? Thanks. Based on facts and numbers it looks like the majority of the tax burden fall on the wealthy.
I think he's talking about the burden on the family of not having the money. If a family earning $40,000 a year gives up $1,000 in taxes, then that's $1,000 less money for necessities like food, toilet paper, and XBox live subscriptions. If a family making $400,000 gives up $10,000 in taxes, then they will still have plenty left over for necessities, they just won't have quite as much money to pay for luxuries and so they won't be burdened by the cost nearly as much as the poor family. By the way, your argument about condos in San Diego is still silly. A family affected by a change in the top tax brackets would be making over $20,000 a month in taxable income. They should easily be able to afford a mortgage on a $1,000,000 home.
haha good point.. thats what got us into the housing mess.. I tend to be very conservative and resposnible with my money.
Of course not. If a mortgage on a $100,000 home is $500 a month, then that family has less than $1500 left per month. If the mortgage on a $1,000,000 home is $6,000, then a family with $20,000 a month in taxable income might pay $7,000 in taxes and $6,000 in mortgage and whatnot and still have $7,000 a month leftover to live. There's a huge difference between $1500 and $7,000.
<object width="480" height="385"><param name="movie" value="http://www.youtube.com/v/H5OtB298fHY?fs=1&hl=en_US"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/H5OtB298fHY?fs=1&hl=en_US" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="480" height="385"></embed></object> The only thing that could have made this speech better would be if he actually named more of the people he was talking about.
it's a doggy dog world out there. <object width="853" height="505"><param name="movie" value="http://www.youtube.com/v/YKT5R0eydM4?fs=1&hl=en_US&rel=0"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/YKT5R0eydM4?fs=1&hl=en_US&rel=0" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="853" height="505"></embed></object>
Actually, a typical mortgage payment would be more like $1000 a month for a $100K house. The mortgage on a $200K home would be nearer $2000 a month, and so on. Buying a house is expensive for the middle class. Until fairly recently, the constant increase in home prices made stretching the family budget a bit to buy a house seem like a good idea. Home prices rose far in excess of the rate a typical middle class family was building equity on their home purchase. As anyone who's bought a place knows, the first many years of a mortgage (and it seems forever to the home buyer) goes towards interest. The mortgage interest deduction in the tax code helps a bit, but is no panacea. It would surprise me very much if the mortgage payment on a million dollar place is as little as $6000 a month.
I'm not sure the validity of the author of the article, but one point did stick out to me. ”…an OECD study released last year showing that the U.S.—not France or Sweden—has the most progressive income tax system among OECD nations.”
