OT - Will the Red States refuse to take Obama's money?
 

On Sep 3, 4:33*pm, Hawke wrote:


Because the thing about taxes is all about how much you keep after you
have paid them. You take someone making 50K a year and after paying his
legitimate expenses like shelter, food, transportation, insurance, child
care, etc. How much is left? Almost nothing. Then he has to pay taxes on
his income. If he pays 15 percent that means he only has 42.5 to pay for
those legitimate expenses and when done he has zero left for anything
else like savings, or retirement or to enjoy life with. He's basically
broke after paying taxes and expenses.

If you make a billion and pay 50 percent your after tax income is 500
million as compared to the 50K guy whose after tax income is only 42.5.
I dare say you can still have a pretty nice life if you have 500 million
after taxes. What about the 50K guy? No so good. You work full time pay
your taxes and all your living expenses and nothing is left. So the
bottom line is the guy with the billion can handle the 50 percent tax a
lot better than the 50K guy can handle a 15 percent tax.

That's why you tax them at different rates. The truth is you can tax the
billion a year guy at 90 percent, leave him with 100 million and he's
still living like a king. Remember how much a 100 million is. Most
people don't earn a million dollars in their entire working life. The
billionaire still has 100 million after a 90 percent tax. I'd be happy
to have 100 million after taxes no matter how much I actually made. With
100 million I'd believe I have enough to have anything I want for life.
Wouldn't you?



In my book that's probably too much. If you make under 100K you probably
should only pay about 5 percent. Under 75K nothing.

..

Flat taxes are regressive. That means the higher your income the lower
the rate you pay. It's the opposite of a progressive tax. You are
penalized for making a little income and rewarded if you already make a
lot of money. I don't see how anyone can see that as fair. That would be
like having a prize fight where you made a welterweight fight a light
heavyweight and making the welterweight fight with one hand tied behind
his back. In my book you give the break to the underdog not the heavy
favorite.



That has been happening out here in California. No jobs for Mexicans or
Americans means Mexicans have no choice but to go home. See, you don't
have to deport millions to get them to leave. Take away the jobs and
they'll go all by themselves.

Hawke

Too many facts that are wrong. It detracts from you argument.

Dan