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So the US government starts shutting down tomorrow... (pg. 17)
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| Joss Weatherby |
| quote: | Originally posted by The17sss
Agencies that have already downgraded the US:
1) Egan-Jones Ratings Co.
2) Weiss
3) Dagong Global Credit Rating (China)
So, again you look like a fool. Just stop.
EDIT: If you're wondering about Moody's:
Why is this? Because, as Moody's explains, even if we can service our debt right now, our leaders are not showing any serious effort to reform the larger issue of our god damn debt as a whole. |
No, the real reason is because we demonstrated that we have a group of ing wackos who wont pay their debt. |
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| Groundhog Boy |
| quote: | Originally posted by The17sss
Since late 2009 all income we've made both here and abroad has been wired to the US and taxed accordingly. We haven't been slipping through loopholes lately. That may change next year as we're forming a new joint venture that will probably be headquartered overseas, but we'll see. As of late, I've been doing my patriotic duty :)
To your original question... tough to answer because it depends on where you live. If you live in NYC, between federal, state, local, and city taxes you're giving up almost 70% of your income with a salary like that. To me that's ed up, but NY is a bigtime welfare state and will pay the price for this soon since the high earners are leaving in droves for FL, TX and NH. In certain states where there is no State income tax, I think that 39% rate (or higher) is more justifiable for sure, yes. In my opinion though, I think a bigger problem is that a growing number of people aren't paying at all... we need tax payers man, and more of them. I've heard enough sob stories to last a lifetime- but even the people who make 20K, 15K, whatever... they should also be taxed on their income (albeit at a lower rate). They should pay SOMETHING. And what a difference it would make. |
I'm actually not enthralled about this concept of reforming Social Security so that people that paid in money and got wealthy don't get any payout. That is a program that is supposed to be based on input. As a recent example applied to the U.S. model, Amy Winehouse would have plowed a ton of money into the system, yet gotten nothing. And if no one has noticed, that's the way this system works.
I'm glad to hear about the original comment, which I did remember and exemplifies the average man getting screwed previously.
I hate to tell you, but I break $100K, and I pay less than 50% between all of my income taxes, not the level you mentioned. And there should be a difference between someone that makes what I make and someone that makes $500K, $1M, $5M, etc.
As pointed out earlier, there's a reason for the extra state and NYC taxes, and that's because we get ed by the federal government expenditures for what we pay in. And seriously, when tons of that money is a waste considering they're Homeland Security costs, we're really getting ed. |
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| Groundhog Boy |
| quote: | Originally posted by The17sss
Agencies that have already downgraded the US:
1) Egan-Jones Ratings Co.
2) Weiss
3) Dagong Global Credit Rating (China)
So, again you look like a fool. Just stop.
EDIT: If you're wondering about Moody's:
Why is this? Because, as Moody's explains, even if we can service our debt right now, our leaders are not showing any serious effort to reform the larger issue of our god damn debt as a whole. |
I'm not going to speak for him, but I think he's referring to S&P (or at least he should be). They've already said that the cuts aren't enough. Any contracts or prospectuses that involve the S&P could still get slammed. You, of few people on this board, should realize how a downgrade affects the holdings of tons of mutual funds, ETFs, and sovereign wealth funds. |
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| Nrg2Nfinit |
bond yeilds have already dropped significantly following the announcement, i honestly doubt any of the big credit rating agencies will end up downgrading US bonds anytime soon.
Remember, these are the same agencies that gave such high ratings to the sub prime mortgages, i honestly doubt they would end up rating national debt any lower.
There is also no comparison of Greece to the US.
Greek bond coupons are in at around 8.75 % par value for the 10 year. Conversely US bonds are sitting in at around 2.8% par value.
If you want to buy a Greek bond right now you can get it at a hefty discount of almost 50% of face value accounting for a yield of 14+% whereas you'd have to pay a premium for a US bond now.
Apples and oranges. |
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| EddieZilker |
| quote: | Originally posted by Groundhog Boy
Michigan doesn't even break even and they're far from one of the wealthier states, so the rich/poor state analogy doesn't work. Here's a breakdown as of 2005, which is obviously outdated - http://www.taxfoundation.org/research/show/266.html%29. Louisiana is going to be a lot higher now, as a result of Hurricane Katrina spending (a worthy expense due to the devastation).
I'd agree with your rich v. poor argument if it actually was reality. Secondly, the states that all make out like bandits all vote Republican, who don't believe what you advocate, that rich should pay higher than the poor.
I really love hearing people talk about how 50% of the public doesn't pay taxes, when you've got 10% unemployment nationwide, and many people just have part-time jobs that don't garner enough money to actually pay taxes. I have an uncle that's a township employee. He makes about $10K a year, at about minimum wage. Is he supposed to pay a lot of taxes? How about my parents' friends at home, one of which doesn't get a consistent 40 hours at K-Mart (after like 15+ years of working there) and her husband doesn't get the same at Wal-Mart? They've lived in the same trailer all my life, so it's obviously paid for (HELOC status unknown). Another uncle has been unemployed for 2 years because the manufacturing job he had in a casket factory moved offshore after a buyout (by a PE company like Romney ran). He wasn't even making $20/hour before.
You know how much some of these people use national resources as a proportion???? Do you think they're flying all over the US and getting their money out of the airports? Why should they be paying for them? |
Don't forget that insurance companies are allowed to consider credit scores when determining premium rates, in Michigan. In many areas, from banking to cell-phone coverage, it can actually cost more to pay for the lowest tier of service than comparable plans secured by people with better financial outlooks. It's not as though poor people are getting off scot-free.
There are "courtesy loan" charges, levied by banks who do things post misleading information on internet statements regarding account balances, so that people will over-draft their accounts believing they have enough money in the account to cover the expenses they're incurring. The over-draft fee has, in itself, helped to establish the "Hail Mary" of default control for poor people - pay day lending - where people can acquire a payday loan at 400%+/- APR interest. |
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| The17sss |
| quote: | Originally posted by Groundhog Boy
I'm glad to hear about the original comment, which I did remember and exemplifies the average man getting screwed previously.
I hate to tell you, but I break $100K, and I pay less than 50% between all of my income taxes, not the level you mentioned. And there should be a difference between someone that makes what I make and someone that makes $500K, $1M, $5M, etc.
As pointed out earlier, there's a reason for the extra state and NYC taxes, and that's because we get ed by the federal government expenditures for what we pay in. And seriously, when tons of that money is a waste considering they're Homeland Security costs, we're really getting ed. |
The "average man" isn't getting as screwed as people make them out to be, considering almost half don't pay income taxes.
Where do you live now... did you move to NJ or are you in NYC? I can't remember.
One thing I will say too- I'm fine with the idea that if you make a salary over some arbitrarily high number, during those years in which your income was high you shouldn't get SS checks following retirement. If you have a successful career, I think it's your responsibility to structure your post-work future accordingly and not rely on handouts that could either: A) go to more deserving people if the money is going to be there anyway, or B) be used to pay down the SS debt/future commitments. A financially sound person has no reason to rely on SS checks at the end of their life. |
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| Joss Weatherby |
| quote: | Originally posted by The17sss
A financially sound person has no reason to rely on SS checks at the end of their life. |
You are such a ing moron. God damn.
You realize that sounds fine and dandy on paper, but not everyone can be financially sound. Everyone can be financially responsible, but sadly that doesn't mean they are sound.
God damn. You are more spoiled than I am. That or you are so ing tunnel visioned in your own success that you assume everyone is capable or has the opportunities you do. |
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| EddieZilker |
| quote: | Originally posted by Joss Weatherby
You are such a ing moron. God damn.
You realize that sounds fine and dandy on paper, but not everyone can be financially sound. Everyone can be financially responsible, but sadly that doesn't mean they are sound.
God damn. You are more spoiled than I am. That or you are so ing tunnel visioned in your own success that you assume everyone is capable or has the opportunities you do. |
Jesus, Nou! Are you actually being intentionally obdurate to the rest of the text you excised that from? |
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| The17sss |
| quote: | Originally posted by Joss Weatherby
You are such a ing moron. God damn.
You realize that sounds fine and dandy on paper, but not everyone can be financially sound. Everyone can be financially responsible, but sadly that doesn't mean they are sound.
God damn. You are more spoiled than I am. That or you are so ing tunnel visioned in your own success that you assume everyone is capable or has the opportunities you do. |
I'm spoiled because I'm successful? Hey face, I didn't have a god damn cent handed to me on a silver platter. 6 1/2 strait years busting my ass thought college & grad school with over $50,000 in loans when I was done, then 5 years on the job without ever missing a day of work, helping build a company from scratch, and now 9 years after college I'm finally enjoying the rewards... when I actually have time off to enjoy them.
No affirmative action, minority, or gender preferences to get ahead, no scholarships... just good old fashioned hard work combined with calculated risk taking. If anyone is spoiled, it's you because you haven't done or earned anything, and the unemployment checks you cash are a direct result of people like me to pay into the teet you can't detach yourself from. I mean, is there a bigger ing joke than you? So depressingly pathetic.. you really have no idea about anything, yet are so ungodly overconfident in yourself.
*whispers* Pssst! It's a lot harder than you think to hide how much of an empty shell of a human being you are, and your massive lack of self esteem. That's between us ;) |
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| Joss Weatherby |
| quote: | Originally posted by The17sss
I'm spoiled because I'm successful? Hey face, I didn't have a god damn cent handed to me on a silver platter. 6 1/2 strait years busting my ass thought college & grad school with over $50,000 in loans when I was done, then 5 years on the job without ever missing a day of work, helping build a company from scratch, and now 9 years after college I'm finally enjoying the rewards... when I actually have time off to enjoy them.
No affirmative action, minority, or gender preferences to get ahead, no scholarships... just good old fashioned hard work combined with calculated risk taking. If anyone is spoiled, it's you because you haven't done or earned anything, and the unemployment checks you cash are a direct result of people like me to pay into the teet you can't detach yourself from. I mean, is there a bigger ing joke than you? So depressingly pathetic.. you really have no idea about anything, yet are so ungodly overconfident in yourself.
*whispers* Pssst! It's a lot harder than you think to hide how much of an empty shell of a human being you are, and your massive lack of self esteem. That's between us ;) |
Obviously you didn't read the part where I said...
| quote: | Originally posted by Joss Weatherby
That or you are so ing tunnel visioned in your own success that you assume everyone is capable or has the opportunities you do. |
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| jupiterone |
you all love cock
- Omar |
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| The17sss |
| quote: | Originally posted by Joss Weatherby
Obviously you didn't read the part where I said... |
yeah- which is still wrong because I clearly recognize that since my success is due to hard work, it isn't at all a result of having some privileged opportunities that somehow, other's aren't able to get. Tunnel visioned? I haven't forgotten where I came from man. This is just you feeling sorry for yourself and playing the grieved/victim (like a good little liberal), and taking it out on me when in reality, you could be in the same position as me or better if you stopped whining all the time and applied yourself.
You could have gone to college, , you still can. Although you are clearly worthless right now, it's not a disability. Get off your ass and take responsibility for your life, Jesus. |
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