251–260 of 332 posts
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The top 1% pay 6x more tax than the bottom 50%! It's obscene how much they pay and how a small group of individuals is forced to carry the entire country. Much, much more should be expected from the bottom 50%.
>The top 1% pay 6x more tax than the bottom 50%! And yet their share of wealth keeps on growing and growing for decades. Curious.
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When majority is agrees on something it doesn't make this automatically the right thing. Especially if this is a majority of non-productive, lazy individuals unwilling to get educated, work and prefer to live by selling their votes for printed money of government grants.
> When majority is agrees on something it doesn't make this automatically the right thing. In a democracy, yes it does.
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> I, the middle class engineer get fucked by the taxes, and I get fucked hard, and not in fun way. And predictably, the responses are whether or not you are actually middle class. Because somehow if you're not, you deserve to be f**d hard I guess...?
These taxes affect people who are making $400k+, so yeah, they can handle paying more taxes.
I'm talking about earning 2x-3x national average pay and getting fucked by that here, in a small EU country.
5k(eur) gross monthly here (current gross average is ~1950eur), after taxes and social/medical (they're a "tax" here, divided between worker and employer) gives me 2922eur net, and I cost my employer 5805eur. With VAT (22%) our customers pay 7082eur, for me to get 2922eur, and the government gets 4160eur. That's without any actual cost, my chair, my computer, toilet paper, office rent,...
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> I, the middle class engineer get fucked by the taxes Fwiw we feel like middle class but we’re really in the top 5% or higher. We’re the rich people these taxes and politicians talk about. The ultra rich/wealthy are a red herring, there’s only a few 10k of them of them. Only 614 people are billionaires. 7 figure income (salary) puts you in top 0.35% ... that’s 1,120,000 Americans. Not a whole lot. edit: top 10% star…
> Fwiw we feel like middle class but we’re really in the top 5% or higher. I think middle class is about where your money comes from than the amount of your money. If you are primarily deriving your income from from working for a company you don’t control, then I think you are middle class.
What if you invest 70% of those 500,000 because your CoL is only 150,000. Still middle class?
Cold hard cash is an asset if you use it like an asset. Well okay, your cold hard lucrative skills are the asset in this case.
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The fact that there are people making 10,000 times as much as the highest bracket in a single year suggests whoever is proposing these tax laws does not actually want to solve the problem. There should be brackets going up to a billion dollars, adjusted every time someone makes an order of magnitude more than the highest bracket. Also, making 400K does not make you rich. In California, you are actually bringing home…
I see multiple people in this thread talking about high taxes without knowing how tax brackets actually work in reality. I wish people understood them. It's very easy to senationalize high taxes. I'll make up some numbers to make it simple. Let's say there's 2 brackets. Everyone who makes under $399,999.99 pays 0% tax. And everyone who makes over $400k pays 90% tax. You make $400k. How much do you owe the taxman? Did…
So a tax increase at 400K will indeed affect someone who makes 400K (or maybe ~450K, or someone who files jointly) now or in the ensuing years when they get raises to combat inflation. The brackets never keep up with inflation, because the government uses CPI to pretend like there isn't much inflation. The highest bracket in 1913 was 1 million dollars (NOT ADJUSTED FOR INFLATION).
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This is a staggering lack of perspective. The average American takes around ten years to make that amount of money. Tell them at the end of the year you’re going to give them the next nine years of paychecks as a Christmas bonus and then ask them if they feel financially independent.
This is a bizarre take. The average American is more likely to live in the equivalent of Flyover, Kansas than Sunnyvale, California. I've lived in both, more the former than the latter. I'm sure the person living in Sunnyvale would love to pay $55k for a nice brick two-story house (current price for one I grew up in) but that doesn't seem to be an option in Sunnyvale. Tell that hypothetical average American to buy a…
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This is a staggering lack of perspective. The average American takes around ten years to make that amount of money. Tell them at the end of the year you’re going to give them the next nine years of paychecks as a Christmas bonus and then ask them if they feel financially independent.
This is a bizarre take. The average American is more likely to live in the equivalent of Flyover, Kansas than Sunnyvale, California. I've lived in both, more the former than the latter. I'm sure the person living in Sunnyvale would love to pay $55k for a nice brick two-story house (current price for one I grew up in) but that doesn't seem to be an option in Sunnyvale. Tell that hypothetical average American to buy a…
Or, 90 minutes from Sunnyvale, an amount of time they are keenly aware of as they commute there every day to clean the clothes, cook the food, and maintain the real estate of the “not rich” people you are describing.
> Tell that hypothetical average American to buy a mediocre house in Sunnyvale and see what reaction you get.
They would say I’m sorry I can’t, because the prices of those houses have been bid up by the rich people who currently live there and make $400k a year.
> Nobody cares what lifestyle $400k can buy in Mississippi
People in Mississippi do. They also get a say in setting tax policy for the U.S. which is the topic of current discussion.
That's why i'm against high taxes. We get a bunch of random political parties, promising to "tax the rich" and stuff, we get new laws... and what happens? - The poor already pay very little tax - no change there - The rich avoid the tax by doing shady stuff (who remembers the panama papers.. or this.. or many other stories like these) - I, the middle class engineer get fucked by the taxes, and I get fucked hard, and…
During Clinton we were set to be debt free in 2013... the bush passed his cut. Tax policy matters.
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This is a staggering lack of perspective. The average American takes around ten years to make that amount of money. Tell them at the end of the year you’re going to give them the next nine years of paychecks as a Christmas bonus and then ask them if they feel financially independent.
This is a bizarre take. The average American is more likely to live in the equivalent of Flyover, Kansas than Sunnyvale, California. I've lived in both, more the former than the latter. I'm sure the person living in Sunnyvale would love to pay $55k for a nice brick two-story house (current price for one I grew up in) but that doesn't seem to be an option in Sunnyvale. Tell that hypothetical average American to buy a…
This is completely independent of CoL. There are very, very few Americans who will ever be able to seriously consider doing this.