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Short version is by working hard and smart, saving, investing wisely, and living modestly almost their entire adult lives. Now their both about 60 and are loaded.
47% of households will pay no federal income tax
- Thread starter PICK3
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Short version is by working hard and smart, saving, investing wisely, and living modestly almost their entire adult lives. Now their both about 60 and are loaded.
mrplunkey
New member
They obviously made it by cheating others and exploiting the poor. Sounds like we need a little social justice in this situation.
Sarcasm aside, great for them. I like hearing about people who plan for the future and win big. I hope they're kicked-back patting themselves on the back for doing things the right way.
That's them for sure. As unlikely as it may sound I had no idea how much money they had amassed when I was a teenager b/c we lived so modestly.
Got in trouble with the law when I turned 18, came home a year later, and they were living in a fricking 3-storie house with a 6 car garage. I was like WHAT!?
PICK3
New member
They were spending it all on you so when you went upriver they had it good.
That would've been sweet, but alas hell no.
I am so sick of that retort. More than 50% of the population of this country is made up of households making under $50k a year. Frankly, for a family of three or four, that's dirt.
I worked for an actuary. I knew how much he made, for a fact, and he cleared well over half a million a year, yet he managed to get income tax refunds, when I, a single working mother, was paying out at the end of the year.
The richer you are, the less money you tell the government you make and because the tax laws are so convoluted, you can afford the CPAs and lawyers to help you get away with it.
My simple argument: If rich people and big corporations wanted a flat tax they'd have lobbiests out there pounding down congress' doors. Except congressmen don't want a flat tax, either. People who are in the big money brackets don't want a flat tax because suddenly they'd be held to the same standards everyone else is, the rest of us would probably be paying the same amount.
digimon7068
New member
like you said earlier. . .it's extremely complicated. . .but, at their heart (i.e., pure legislative intent) virtually every "tax break" is an incentive to encourage people with some extra money (or with LOTS OF EXTRA MONEY) to invest in industries and what-not that will create jobs for the masses, whether it be their own business (in the instance of sole proprietors, small partnerships and small corporations) or someone elses (in the event of widely-held, publicly-traded entities). . .no. . .i'm not kidding. however, there are a lot of really good tax attorneys and such out there, that look at the rules of those "tax breaks" for opportunities (loopholes) to legally exploit (bastardize) the inherent weaknesses in most legislation. a pure flat tax will remove most (if not all) of the incentive for investment.
like you said. . .it's complicated. . .
milo hobgoblin
New member
are you actually trying to justify those who make more money paying more individual taxes?
There is no logic in the universe to justify those who use the least amount of social services paying more than anyone else..
That actuary you WORKED for was providing you and probably a few others jobs.. and while he personally may not have paid much income tax.. his company or the companies he services pay the SECOND HIGHEST corporate tax rates in the world.
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