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Now that it's over.... (pg. 7)
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| Krypton |
| quote: | Originally posted by Fir3start3r
What exactly do you think the wealthy are going to do with their money when Obamanomics start up?
They're certainly not going to watch the government take it.
You people need to wake up because the hammer is going to come down on the middle class as soon as the wealthy take their funds out of arms reach of Obama Claus... |
Same thing they did under Clinton. Prosper. |
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| Groundhog Boy |
| quote: | Originally posted by The17sss
I said "taxes" but was referring to income taxes... my fault for not being more specific. So why the heck do you live in NY if you're 28 and can't afford to buy? I love big cities too but they're more fun to visit than live in... I mean, why not improve your quality of life and own some property that can accrue some value? I guess it's a personal preference... but if you're making a 6 figure salary, think of how much better you could lay down a foundation if you did it somewhere outside of that tax burden of a state |
In addition to federals, NY + NYC's income taxes are pretty steep if you hadn't guessed.
2nd, I'm better off now for not having bought before the housing bubble burst. I guess I could have bought 3 years ago and watched my property value drop, which is really starting to take speed since all the NY finance jobs are gone. |
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| The17sss |
| quote: | Originally posted by Groundhog Boy
In addition to federals, NY + NYC's income taxes are pretty steep if you hadn't guessed.
2nd, I'm better off now for not having bought before the housing bubble burst. I guess I could have bought 3 years ago and watched my property value drop, which is really starting to take speed since all the NY finance jobs are gone. |
Yeah I guess you would have been screwed if you bought a house before the bubble and didn't plan on staying in it for at least 10 years. So you work in finance? Then I'm sure you know Charlotte is the main financial center outside of NYC... not that I'm trying to convince you to move here or anything, but you'd be shocked at how much house you can get for your money here. True, the wheels turn a little slower in the south, but it's a good sized city growing fast and after spending a week in NYC, my blood pressure drops significantly when I get back here...lol. What are your long term plans? Are you a NYC lifer or are you open to living other places? |
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| Groundhog Boy |
| quote: | Originally posted by Fir3start3r
What exactly do you think the wealthy are going to do with their money when Obamanomics start up?
They're certainly not going to watch the government take it.
You people need to wake up because the hammer is going to come down on the middle class as soon as the wealthy take their funds out of arms reach of Obama Claus... |
And watch how fast loopholes start closing up for US citizens if it starts going that route. Just think of the jobs at the IRS that it'll create, then we can all bitch about how big government is getting because citizens are trying to cheat their taxes.
Or do you think that all US citizens will suddenly leave the country for emerging markets, with the phenomenal standards of living that they currently offer? If they think they're getting better personal income tax rates from more established nations, they're joking themselves.
On the plus side, I guess then we'll see who the "real Americans" are. |
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| Groundhog Boy |
| quote: | Originally posted by The17sss
Yeah I guess you would have been screwed if you bought a house before the bubble and didn't plan on staying in it for at least 10 years. So you work in finance? Then I'm sure you know Charlotte is the main financial center outside of NYC... not that I'm trying to convince you to move here or anything, but you'd be shocked at how much house you can get for your money here. True, the wheels turn a little slower in the south, but it's a good sized city growing fast and after spending a week in NYC, my blood pressure drops significantly when I get back here...lol. What are your long term plans? Are you a NYC lifer or are you open to living other places? |
Law |
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| The17sss |
| quote: | Originally posted by Groundhog Boy
And watch how fast loopholes start closing up for US citizens if it starts going that route. |
speaking of closing loopholes, I was in Bermuda the other day... the guy who's house I was at is Richard Pearman who's father was instrumental in making Bermuda a tax haven. He was a Rhode scholar at Oxford and is an international tax attorney with pretty much all of the fortune 500 companies as clients, and he was telling me how Obama is planning on closing the tax loopholes (may take a few years to do it) that so many of those companies enjoy and it scares the out of them. I asked why he's doing it and he said, "because he's a democrat and that's what they do." |
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| Krypton |
| That's why we need a flat sales tax system. No more income tax, capital gains tax, etc. Just sales tax. It's transparent, everyone knows what everyone else pays, and it's fair. |
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| Fir3start3r |
| quote: | Originally posted by Groundhog Boy
On the plus side, I guess then we'll see who the "real Americans" are. |
Yup - they'll be the bewildered ones holding the bailout bag btw...while much gnashing of teeth will be had by those below the poverty line wondering where their meal ticket went... |
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| Groundhog Boy |
| quote: | Originally posted by Krypton
That's why we need a flat sales tax system. No more income tax, capital gains tax, etc. Just sales tax. It's transparent, everyone knows what everyone else pays, and it's fair. |
It'd definitely hit up the service industry jobs more, as much is done in cash there. Plus the Amish since they do everything in cash and have been shirking income tax payments all along (especially annoying because their buggies ruin roads that your tax dollars pay to build).
That said, would you pay taxes on stock trades? Would you pay 25+% on a home or car purchase, on top of the actual price?
To be honest, my actual spending isn't that high aside from rent. Taxing just my groceries, clothes, discretionary purchases like CDs, bar tabs, electronics, etc. wouldn't provide much income for the government. |
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| The17sss |
| quote: | Originally posted by Fir3start3r
Yup - they'll be the bewildered ones holding the bailout bag btw...while much gnashing of teeth will be had by those below the poverty line wondering where their meal ticket went... |
bingo. think about it... something like 40% of people here don't pay income taxes now. If he's giving 95% of Americans a tax break, then those already not paying are going to get a tax credit, or free money paid for by others. That's a lot of people who are getting free that may not work for it, but by god they have a right to vote. He's building a voting block by making more people reliant on the wonderful altruism of government
"Democrats, thrive on as many voters being dependent on government as possible, and they thrive on having voters think that Republicans are responsible for their woeful economic plight."
-Rush |
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| The17sss |
| quote: | Originally posted by Krypton
That's why we need a flat sales tax system. No more income tax, capital gains tax, etc. Just sales tax. It's transparent, everyone knows what everyone else pays, and it's fair. |
Dammit! I hate it when I agree with Krypton :p |
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| Krypton |
| quote: | Originally posted by Groundhog Boy
It'd definitely hit up the service industry jobs more, as much is done in cash there. Plus the Amish since they do everything in cash and have been shirking income tax payments all along (especially annoying because their buggies ruin roads that your tax dollars pay to build).
That said, would you pay taxes on stock trades? Would you pay 25+% on a home or car purchase, on top of the actual price?
To be honest, my actual spending isn't that high aside from rent. Taxing just my groceries, clothes, discretionary purchases like CDs, bar tabs, electronics, etc. wouldn't provide much income for the government. |
Of course there would need to be some enforcement of the tax law but the IRS already does that. Everyone already pays taxes on stock trades, home purchases, and car purchases. But the difference would be made up by the savings from not having to pay income taxes. I'm also sure tax breaks could be given in instances such as investments, home purchases, etc. |
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