[dew22]

Originally Posted by poboys 94

"The magnitude of the housing bubble is shocking and unprecedented. According to the Federal Reserves own figures, “The total amount of residential housing wealth in the US just about doubled between 1999 and 2006 up from $10.4 trillion to $20.4 trillion.”(Times Online) This tells us that the Fed had a clear idea of the size of the equity balloon their low interest policies were creating, but decided not to take corrective action.[COLOR="Red"] THE FEDERAL RESERVE IS NOT PART OF THE GOVERNMENT........................................ .......

I’m with you for the most part on the Federal Reserve, but that in no way diminishes the Govt’s role in pushing the lending institutions to make loans their business sense would have other wise disqualified.

Govt intervention/regulation often creates more problems than it solves. I’d be for some sort of common sense rules that are business and consumer friendly, but asking for common sense from the Govt. Is wishful thinking at best.

[Reimann]

Originally Posted by Therian

Those poor millionaires. They won't be able to afford their yearly yacht purchase this year.

Did you even read anything in this thread before posting that bit of brillance? We're talking about Joe the Plumber here, who is looking to buy the company he works for and it only brings in about $250,000 a year. This has nothing to do with millionaires.

[dew22]

Originally Posted by poboys 94

You know what pisses me off is that I am in a really f-ed up situation. I can't work because my f-ing fingers are falling off, and when I need to collect money from a program I have been paying into for the last 30 years,Social Security- Im denied, but these MFers, are getting billions to pick up after a mess created by them AND the Government. If I sound bitter it's because I am. This **** has affected many people and in many different ways, if you have your health, and a job pray and give thanks everyday for your blessings, guys.

Sooooooooooo..................lets raise taxes on the "rich" and give the Govt. more money to waste?????

[Therian]

Originally Posted by Reimann

Did you even read anything in this thread before posting that bit of brillance? We're talking about Joe the Plumber here, who is looking to buy the company he works for and it only brings in about $250,000 a year. This has nothing to do with millionaires.

Man, I get under your skin, don't I?

[Strype]

[poboys 94]

Originally Posted by dew22

Sooooooooooo..................lets raise taxes on the "rich" and give the Govt. more money to waste?????

No no, I was just ranting on how these greedy F-ers waste money.

[Reimann]

Originally Posted by Therian

Man, I get under your skin, don't I?

I guess I have a low tolerance for stupidity.

[timeless2]

[Therian]

Originally Posted by Reimann

I guess I have a low tolerance for stupidity.

Me thinks your tolerance is very high considering you hang out around these parts...

[dew22]

[Reimann]

Originally Posted by Therian

Me thinks your tolerance is very high considering you hang out around these parts...

That just goes to show how stupid your comment was

[rbohm]

Originally Posted by Strype

So are you saying that historically, when the rich get tax cuts they actually end up paying more in the long run?

actually what happens is that more people become rich, because more people have money to start a business or buy one.

Originally Posted by dew22

Sooooooooooo..................lets raise taxes on the "rich" and give the Govt. more money to waste?????

actually it has been shown that when taxes are raised, the government takes in less money due to economic slow down.

Originally Posted by poboys 94

No no, I was just ranting on how these greedy F-ers waste money.

you said a bidfull there my friend. from what i have heard, the government wastes just about 1/3 of the money they budget for the year. this has ot stop if we are going to reduce the size of the national debt.


the current problem is caused by many things, and many people have dirt on their hands because of it. democrats in congress pushing to prevent the needed regulations that would have stopped the problem early. republicans who should have taken a proactive approach and told the people in all states to write their congressmen and ge tthe regulations in place, and to use the regulatory powers they were entrusted with to over see what was going on. fannie and freddie for pushing these bad loans in the first place. and organizations like ACORN who put pressure on the banks and the congress to keep these loans flowing.

[Gearbanger 101]

Originally Posted by Reimann

Did you even read anything in this thread before posting that bit of brillance? We're talking about Joe the Plumber here, who is looking to buy the company he works for and it only brings in about $250,000 a year. This has nothing to do with millionaires.

Maybe he can use some of the money he's saved by not paying his taxes over the last few years in order to off set the tax hike...what do you think?

And what do you mean he "only " brings in about $250,000 a year?

Awww, the poor guy......only 250K a year huh. Pleeeaaasseee .....I'm lucky if I make that much in 4-years my friend. I have zero sympathy for him and anyone like him!!!

Anyone who thinks they've got it tough pulling down 250K a year needs to quit what they're doing now and work at McDonalds for a year to see how the majority pf us live!



On a side note....interesting read.

http://steveyoungonpolitics.com/say-...-real-plumber/

[EMW150]

Originally Posted by Gearbanger 101

Maybe he can use some of the money he's saved by not paying his taxes over the last few years in order to off set the tax hike...what do you think?

And what do you mean he "only " brings in about $250,000 a year?

Awww, the poor guy......only 250K a year huh. Pleeeaaasseee .....I'm lucky if I make that much in 4-years my friend. I have zero sympathy for him and anyone like him!!!

Anyone who thinks they've got it tough pulling down 250K a year needs to quit what they're doing now and work at McDonalds for a year to see how the majority pf us live!



On a side note....interesting read.

Say It Isn’t So, Joe! Wurzelbacher Not A Real $250K Plumber? | Steve Young on Politics

More jealousy. Tell me, what entitles you or anyone else to what he earns?

Edit: PS just because everyone got a tax cut in the last eight years doesn't mean they weren't still paying out the ying-yang.

[Gearbanger 101]

Originally Posted by EMW150

More jealousy. Tell me, what entitles you or anyone else to what he earns?

Edit: PS just because everyone got a tax cut in the last eight years doesn't mean they weren't still paying out the ying-yang.

Jealous....of course I would be.....who wouldn’t? Why should the high-enders get all the breaks? Do you honestly think they’re pulling down that kind of dough because they work harder than you and me or anyone on the bottom?

The kind of jobs that these people are working to make that kind of income is largely due to where they’re from, who they are and whom they know. It’s got little to do with what they know or the level of competency or dedication to doing their job they have. These privileged few have been getting breaks their entire lives and the last thing they need is to be rewarded for it?

So no....I haven't any sympathy for them. I know people who work twice as hard only to make half as much. If you’re making that kind of scratch it’s kind of like owning a high end sports car. If you afford to drive a Ferrari, you can certainly afford to maintain it!

[Lisa GT]

Originally Posted by Gearbanger 101

Anyone who thinks they've got it tough pulling down 250K a year needs to quit what they're doing now and work at McDonalds for a year to see how the majority pf us live!

Maybe pulling $250K a year doesn't qualify as 'tough', but it certainly isn't 'rich' either.

I'm more inclined to believe a flat tax across the board is fair. I too believe that a progressive tax system essentially punishes people who were motivated and worked to become successful.

[Gearbanger 101]

Originally Posted by Lisa GT

Maybe pulling $250K a year doesn't qualify as 'tough', but it certainly isn't 'rich' either.

I guess that depends on your perspective. If you're from New York or LA...then no, it's not considered doing very well, but for those situated on the outskirts of the big cities one can live pretty large on that kind of money. Especially if you've got dual income.

Either way.....if a person chooses to live in an area that requires that kind of income to survive, then they should also be prepared to pay the price that comes along with it.

[caballo]

Originally Posted by Gearbanger 101

Maybe he can use some of the money he's saved by not paying his taxes over the last few years in order to off set the tax hike...what do you think?

And what do you mean he "only " brings in about $250,000 a year?

Awww, the poor guy......only 250K a year huh. Pleeeaaasseee .....I'm lucky if I make that much in 4-years my friend. I have zero sympathy for him and anyone like him!!!

Anyone who thinks they've got it tough pulling down 250K a year needs to quit what they're doing now and work at McDonalds for a year to see how the majority pf us live!



On a side note....interesting read.

Say It Isn’t So, Joe! Wurzelbacher Not A Real $250K Plumber? | Steve Young on Politics

Just because you pull down 250k a year in a small business doesn't mean you NET 250K a year. Obama wants his tax to take effect on Gross receipts iirc. That means if a business owner grosses $250, 000.00 a year but only nets a 30k profit he is FUBAR under Obama's plan...

FUBAR for us is SNAFU for the gubment.

[Lisa GT]

Originally Posted by Gearbanger 101

Jealous....of course I would be.....who wouldn’t? Why should the high-enders get all the breaks? Do you honestly think they’re pulling down that kind of dough because they work harder than you and me or anyone on the bottom?

The kind of jobs that these people are working to make that kind of income is largely due to where they’re from, who they are and whom they know. It’s got little to do with what they know or the level of competency or dedication to doing their job they have. These privileged few have been getting breaks their entire lives and the last thing they need is to be rewarded for it?

So no....I haven't any sympathy for them. I know people who work twice as hard only to make half as much. If you’re making that kind of scratch it’s kind of like owning a high end sports car. If you afford to drive a Ferrari, you can certainly afford to maintain it!

Sorry, I gotta differ here. Many people apply themselves in school, get a good college education, sacrifice time, money and 'pleasure' to build a career and enjoy a better life in the long run. They don't deserved to be punished/taxed for making sacrifices, using common sense and making wise decisions.

As for the guy who slept in the back of the class and made snide remarks when the teacher was lecturing, then got his GED and took a job at the factory to keep him beer and ganja money ....he made his bed let him lie in it.

[caballo]

Originally Posted by Gearbanger 101

Jealous....of course I would be.....who wouldn’t? Why should the high-enders get all the breaks? Do you honestly think they’re pulling down that kind of dough because they work harder than you and me or anyone on the bottom?

The kind of jobs that these people are working to make that kind of income is largely due to where they’re from, who they are and whom they know. It’s got little to do with what they know or the level of competency or dedication to doing their job they have. These privileged few have been getting breaks their entire lives and the last thing they need is to be rewarded for it?

So no....I haven't any sympathy for them. I know people who work twice as hard only to make half as much. If you’re making that kind of scratch it’s kind of like owning a high end sports car. If you afford to drive a Ferrari, you can certainly afford to maintain it!

You don't get it. People who have an INCOME of 250k are WAY different that Small Business Owners who gross 250K. And MOST SBO are not a "priviledged few", but even if they were, who are you to judge in this way?

Seriously, you've always come across as a cool head when it comes to stuff like this, but that post is about as school yard as they come lathered with jealousy and dare I say overtones of hatred. Total shock, coming from you...

[Lisa GT]

$250K income (salary) is not that much money. It's not even close to being rich. Even a million dollars really isn't that much money today if you think about it.

[EMW150]

Originally Posted by Gearbanger 101

Jealous....of course I would be.....who wouldn’t? Why should the high-enders get all the breaks? Do you honestly think they’re pulling down that kind of dough because they work harder than you and me or anyone on the bottom?

The kind of jobs that these people are working to make that kind of income is largely due to where they’re from, who they are and whom they know. It’s got little to do with what they know or the level of competency or dedication to doing their job they have. These privileged few have been getting breaks their entire lives and the last thing they need is to be rewarded for it?

So no....I haven't any sympathy for them. I know people who work twice as hard only to make half as much. If you’re making that kind of scratch it’s kind of like owning a high end sports car. If you afford to drive a Ferrari, you can certainly afford to maintain it!

You're dillusional. What about these people who took chances and put everything on the line to start a business? Scratched and scratched to make payroll every week, sleepless nights...... You act like anyone with money had it handed to them on a silver platter. It's one thing to want to better yourself to their financial position, it's another just to sit back and stay in your go nowhere job and demonize those who have taken the chances to further their position in life. You have issues.

[caballo]

Originally Posted by Lisa GT

$250K income (salary) is not that much money. It's not even close to being rich. Even a million dollars really isn't that much money today if you think about it.

Agreed. But it's a comfortable living if you're smart about it.

[Gearbanger 101]

Originally Posted by caballo

That means if a business owner grosses $250, 000.00 a year but only nets a 30k profit he is FUBAR under Obama's plan....

If someone’s only pulling down 30K in profit, with the rest being overhead and what not, then it's not going to matter much anyway because he'll most likely be out of business the following year.

Originally Posted by Lisa GT

Sorry, I gotta differ here. Many people apply themselves in school, get a good college education, sacrifice time, money and 'pleasure' to build a career and enjoy a better life in the long run. They don't deserved to be punished/taxed for making sacrifices, using common sense and making wise decisions.

As for the guy who slept in the back of the class and made snide remarks when the teacher was lecturing, then got his GED and took a job at the factory to keep him beer and ganja money ....he made his bed let him lie in it.

And may people apply themselves in school, yet because of family income, or obligation can't afford to get into a decent college...or worse yet go at all. So they continue to sacrifice the same time, money and 'pleasure' in order to make ends meet and hope that one day they're able to put enough away to go back to school and further their education? Meanwhile, their life slips by and before you know it they're stuck in a dead end job trying to pay the bills and raise a family pulling down 40K a year!

In the same respect, how should we feel for the guy who slept in the back of the class and goofed of throughout his entire school career just to have a great job waiting for him when he got out because mommy and daddy have great connections?

It’s not so cut and dry, is it?

Originally Posted by EMW150

You act like anyone with money had it handed to them on a silver platter.

...and you act like anybody without it must be a lazy, good for nothing leech on society? What's your point?

[Lisa GT]

No, it's not cut and dried. That's why the only reasonable solution is a flat tax across the board. Pay your equal percentage based on your income. For instance if it's 17%, then you pay 17% if you make $18K, you pay 17% if you make $18M.