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Old 12-14-2010, 10:48 AM   #81
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Originally Posted by Penguin Koolaid View Post
3% increase on income over $250,000 and people are screaming "THE SKY IS FALLING!!!!!!!!!!"
Especially when a 3% increase on Joint Filers (assumed move from a marginal 33% to 36%) with $250K in income is an increase of ~$100 per month. Another way to look at it is their effective rate goes from 24.1% in the current 33% bracket to 24.6% in the 36% bracket.
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Old 12-14-2010, 10:54 AM   #82
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I'm concerned that people would rather side with ignorance than reality. The tax cut extensions amount to a projected 0.1% to 0.0% decrease in unemployment. And a more definitive impact is the ~400-700 billion dollar deficit increase.

I'm worried that I live in a country where people do not understand the price of their Government. Extending the tax cuts prolongs that incomprehension.

Either raise taxes, or cut spending. I strongly feel that the latter will never occur in any significant measure until the former is implemented so people can truly realize the financial impact.


So the real question should be... why aren't you worried? Do you not care about the financial viability of our country, which in and of itself plays a direct role in our national security?

3% increase on income over $250,000 and people are screaming "THE SKY IS FALLING!!!!!!!!!!"

My recommendation.... raise them back to pre-Bush era rates, and let everyone scream "THE SKY IS FALLING" so we can actually initiate some budget/cost reform in our Government.
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Old 12-14-2010, 01:05 PM   #83
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Originally Posted by Penguin Koolaid View Post
I'm concerned that people would rather side with ignorance than reality. The tax cut extensions amount to a projected 0.1% to 0.0% decrease in unemployment. And a more definitive impact is the ~400-700 billion dollar deficit increase.

I'm worried that I live in a country where people do not understand the price of their Government. Extending the tax cuts prolongs that incomprehension.

Either raise taxes, or cut spending. I strongly feel that the latter will never occur in any significant measure until the former is implemented so people can truly realize the financial impact.

So the real question should be... why aren't you worried? Do you not care about the financial viability of our country, which in and of itself plays a direct role in our national security?

3% increase on income over $250,000 and people are screaming "THE SKY IS FALLING!!!!!!!!!!"

My recommendation.... raise them back to pre-Bush era rates, and let everyone scream "THE SKY IS FALLING" so we can actually initiate some budget/cost reform in our Government.
You're concern for the price the of government is correct and I like you're recommendation for fixing it (raise taxes and let people freak out)..I had the same mind set when it came to high gas prices, it forces people into considering other resources for transportation such a electric vehicles.

The sky is not falling because of the 250K tax, it's bothersome to watch others with pitch forks demanding a minority cover our loses because in their opinion the minority can afford it..No question it's greed. It's tough to watch our government raise taxes for anyone while the government itself is wasting money. The government is the equivalent of an open window on a house in winter and simply turning up the heat.

We are in times which are froogle, efficient and green..Our government needs to follow.
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Old 12-14-2010, 01:58 PM   #84
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Old 12-14-2010, 02:27 PM   #85
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froogle
Right on brother........Right on.

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Old 12-14-2010, 02:42 PM   #86
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I call bullshit. If a person can not live a debt free life on $250K a year they are doing something wrong. Even if they were taxed at 50% that would still be $125K a year, or almost $10K a month.

The problem is too many people making $250K a year try to live like Donald Trump.
I'm gonna have to agree with this.
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Old 12-14-2010, 03:02 PM   #87
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That should be a moot point as they cannot control the national average, they only control their income.

Are you implying that they are not squeaking by so they can afford to pay more in taxes, that they should pay more in taxes?
How are they squeaking by when they are saving over $40K/year? Good analytical skills you guys are showing.
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Old 12-14-2010, 03:08 PM   #88
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Good thing I live just north of Plano!
And this is ****ing dumb. Why does he need a 750thousand dollar house. DO you have any idea what a 750k house would look like in my area?
Heres something in plano, 10 miles south of me where the housing costs are at least 25-35% more (solely due to the fact that its in Plano)

750k
4 bedroom
5 bath
5100 sq feet.
There is absolutely no need for a house that size, especially if you feel you are hurting or going in the red.

You cant even buy a house in the colony for 750k. The most expensive house I've found is 659k and its the same size as the one in Plano and 10 years newer. Mr and Mrs Jones are being stupid with their money.
Hell, if they moved 10 miles northwest into Lewisville, they would have an easier route to downtown Dallas, more access to shopping and the same house for 500k.

This article should say "$250,000, comfortable, but living beyond their means for no reason"

Last edited by djetaine; 12-14-2010 at 03:12 PM.
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Old 12-14-2010, 03:10 PM   #89
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Ahhhhh. Now we're getting somewhere.

Now who was it that's been pushing for the furthering of all these programs (not to mention amnesty). Wonder if they have anything to do with "customers"...
Wasn't it PK and Bussa?
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Old 12-14-2010, 03:32 PM   #90
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[QUOTE=Penguin Koolaid;12573977]I'm concerned that people would rather side with ignorance than reality. The tax cut extensions amount to a projected 0.1% to 0.0% decrease in unemployment. And a more definitive impact is the ~400-700 billion dollar deficit increase.
QUOTE]

How does not changing the tax base increase the deficit? Was the govt already counting on the tax increase, so they went ahead and spent the money. Or is this just an estimate on how much they WOULD HAVE COLLECTED.

If a tax increase was going to go toward paying down the deficit I could agree, but if the higher taxes are for an amnisty program or more welfare/entitlement programs, then the gov need to cut spending and waste to find the money. The working class cannot sustain the cost of supporting the non-working class.
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Old 12-14-2010, 03:36 PM   #91
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Originally Posted by truemc View Post
How are they squeaking by when they are saving over $40K/year? Good analytical skills you guys are showing.
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Originally Posted by djetaine View Post
Good thing I live just north of Plano!
And this is ****ing dumb. Why does he need a 750thousand dollar house. DO you have any idea what a 750k house would look like in my area?
Heres something in plano, 10 miles south of me where the housing costs are at least 25-35% more (solely due to the fact that its in Plano)

750k
4 bedroom
5 bath
5100 sq feet.
There is absolutely no need for a house that size, especially if you feel you are hurting or going in the red.

You cant even buy a house in the colony for 750k. The most expensive house I've found is 659k and its the same size as the one in Plano and 10 years newer. Mr and Mrs Jones are being stupid with their money.
Hell, if they moved 10 miles northwest into Lewisville, they would have an easier route to downtown Dallas, more access to shopping and the same house for 500k.

This article should say "$250,000, comfortable, but living beyond their means for no reason"
The issue is it's none of your business what said person does with their money.
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Old 12-14-2010, 03:53 PM   #92
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The issue is it's none of your business what said person does with their money.
What are you talking about? It's COMPLETELY my business what they do with their money if the article is about how "people making 250 a year are in the red"
Football players make millions and end up broke as hell because they dont know how to manage their money or use it on frivolous or poor expenditures.
Does that mean that all millionaires are in the red? No, it means the ones that buy stupid things that they dont need or cant afford are.
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Old 12-14-2010, 04:02 PM   #93
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What are you talking about? It's COMPLETELY my business what they do with their money if the article is about how "people making 250 a year are in the red"
Football players make millions and end up broke as hell because they dont know how to manage their money or use it on frivolous or poor expenditures.
Does that mean that all millionaires are in the red? No, it means the ones that buy stupid things that they dont need or cant afford are.
Your business if you are making $250k or more.

if not.....

how anyone wants to spend their own money is ONLY THEIR beniss.
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Old 12-14-2010, 04:51 PM   #94
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how so? i forgot i was talking to know it alls on here that in reality have no idea what they are talking about. and im not just saying you in particular.
You said:

"well if people BARELY make it on 250k a year then that is a sad situation. believe me if i was making 250k a year in NYC , which i would say is a big city , i would be a owner of i would say 3-4 multi family houses and would comfortably feed a family of 4-5. people complaining about that income is just sad."

You would NOT be owning 3-4 multi family homes and paying for your own family in NY on 250k/year. No chance in hell unless you have family money already.
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Old 12-14-2010, 05:11 PM   #95
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...it's bothersome to watch others with pitch forks demanding a minority cover our loses because in their opinion the minority can afford it.
I don't want to see a tax cut extension for anyone.

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How does not changing the tax base increase the deficit?
When expenses exceed revenue you incur a deficit. The fact that you have to ask really illustrates your superficial understanding of why there is a problem with the tax cut extensions. Get past the subject line of your chain emails and come back ready to discuss something a little less elementary.
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Old 12-14-2010, 05:48 PM   #96
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The issue is it's none of your business what said person does with their money.
What???? The entire post and article is detailing how this hypothetical couple is spending/saving their money. And the conclusion is that they are bare;y scraping by while they are making $250K per year (they can barely take a vacation BS). While looking at the details it shows that they are saving roughly 16% of their income.

So they save $41K per year for school and retirement, assume that they get an average of 5% return, they will have close to $2M saved in 25 years, booh hooo how are they going to pay for groceries, and the poor kids.
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Old 12-14-2010, 05:51 PM   #97
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Your business if you are making $250k or more.

if not.....

how anyone wants to spend their own money is ONLY THEIR beniss.
But this article is detailing the spending of a couple and then coming up with the conclusion that couples making $250K per year are in debt and can't afford to go on vacations. If you can't see the holes in the numbers they are providing then you really shouldn't be commenting on this. If you make over $250K per household then you can afford to take vacations, I don't care where you live. You aren't going out to your house in the Hamptons, but you sure as hell can take vacations.

Me and my wife make over $250K/year so I do speak from experience.

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Old 12-14-2010, 06:12 PM   #98
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The issue is it's none of your business what said person does with their money.
It becomes your issue when all the idiots in your neighborhood made poor financial choices and start defaulting on their home loans destroying the value of your own home in the process.

Believe it or not, what "other" people do with their money can and will impact you personally. It's not just the Government that is spending out of control with money they don't have these days..
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Old 12-14-2010, 08:34 PM   #99
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Your business if you are making $250k or more.

if not.....

how anyone wants to spend their own money is ONLY THEIR beniss.
LOL, this is a joke right? This entire post and research was based on a hypothetical couple making 250k a year. It was trying to tell us that 250k people are barely making ends meet. While that may be the case, what they spend their money on is entirely relevant to the main point.

The whole point of the thread/article was for people to discuss the situation.
If no one cared how people spent the money in this situation why even do the research?

By your logic the article should have said:

"Couple A makes 250k a year and spends it on stuff, but thats not your business. They are in the red. Please take this as fact and do not discuss, it is not your business."

Your argument is moot being that the article is making invalid assumptions based on poor spending habits. People with good spending habits are in the black.

How about this for an article:
"People who spend smart stay afloat, people who buy above their means end up losing money"
STOP THE PRESSES!!!!

Last edited by djetaine; 12-14-2010 at 08:36 PM.
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Old 12-14-2010, 09:28 PM   #100
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You said:

"well if people BARELY make it on 250k a year then that is a sad situation. believe me if i was making 250k a year in NYC , which i would say is a big city , i would be a owner of i would say 3-4 multi family houses and would comfortably feed a family of 4-5. people complaining about that income is just sad."

You would NOT be owning 3-4 multi family homes and paying for your own family in NY on 250k/year. No chance in hell unless you have family money already.
i WOULD most definitely be able to do those things on that income in NYC. and no i have no family money. i'll talk to you in about 10 years and maybe i will have my 3rd house by then and i don't make 250k a year. i'm actually looking at 3-4 family house right now and shortly after the purchase of the first im going to start looking for a second one. you guys continue your bickering back and forth about how this is possible or impossible with that income because you know best. next election im voting for e46F to run this country because obviously we have some of the brightest minds on here that have a solution and answer to everything.
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