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The 1% should pay for everything!

It's quite simple, unearned income is taxed at a lower rate than earned income.

The bulk of buffets income is from investments not from a W-2 paycheck

I don't understand people who don't understand this
I do understand capital gains tax vs. income tax. Capital gains tax is my big issue for this coming election. Hillary, if she's our next president, wants to raise capital gains tax which will most likely delay my own retirement from ten years out to who knows how far out.

2015 Tax brackets for reference:
http://www.efile.com/tax-service/tax-calculator/tax-brackets/

What I don't understand is how the top 1% is paying 50% tax as stated by Fox? Do they actually get a W2 for "earned income", as in receiving a real paycheck for the millions that they make? Or are they in the top 1% because of "unearned income" and therefor paying capital gains tax? Or is it combination of both (likely) in which case they're not paying 50%. It's the "top 1% is taxed 50%" part that I'm confused about. Who actually pays 50% tax in top 1%?
 
I do understand capital gains tax vs. income tax. Capital gains tax is my big issue for this coming election. Hillary, if she's our next president, wants to raise capital gains tax which will most likely delay my own retirement from ten years out to who knows how far out.

2015 Tax brackets for reference:
http://www.efile.com/tax-service/tax-calculator/tax-brackets/

What I don't understand is how the top 1% is paying 50% tax as stated by Fox? Do they actually get a W2 for "earned income", as in receiving a real paycheck for the millions that they make? Or are they in the top 1% because of "unearned income" and therefor paying capital gains tax? Or is it combination of both (likely) in which case they're not paying 50%. It's the "top 1% is taxed 50%" part that I'm confused about. Who actually pays 50% tax in top 1%?
He started by saying almost 40%... Assuming straight w-2 income (ignoring capital gains for this discussion), 50% sounds reasonable when you count in state and local income tax, property tax and sales tax.
 

BirdOPrey5

Staff member
Administrator
VIP
When I was making like $250k a year I was getting literally 50 cents on the dollar after all federal, state, local, city, and property taxes.
 

miwico

Stalker of Brock
VIP
DAMN ANGRY STONER

Enjoy remaining uninformed.
How in the fawk did you get that idea you dumb fawk stoned asshole. I agree the ****ing lib billionaire is fawked in the head and playing on his words. I just want to know why you think he would say something like that without your childish response. Why do you think he said that once again?
 

Justin

Damn.
VIP
How in the fawk did you get that idea you dumb fawk stoned asshole. I agree the ****ing lib billionaire is fawked in the head and playing on his words. I just want to know why you think he would say something like that without your childish response. Why do you think he said that once again?
 

BobKid

Bite me!
VIP
Watching this and the other recent SJW videos just reminds me of what the real zombies look like that we'll have to shoot when the SHFT. That stupid up-talking snowflake won't last a day when all the rules change

:pirate:
 

Hooligan

Employee of the Month
VIP
Listening to her reminded me of the pageant girl who tried to explain why people couldn't find wherever on a map.
I personally believe that U.S. Americans are unable to do so because, uh, some, uh, people out there in our nation don't have maps and, uh, I believe that our education like such as in South Africa and, uh, the Iraq, everywhere like such as, and, I believe that they should, our education over here in the U.S. should help the U.S., uh, or, uh, should help South Africa and should help the Iraq and the Asian countries, so we will be able to build up our future
 

BlackDak

Banned
VIP
Students should be required to meet with a financial adviser and go over a cost benefit analysis on the degree they want and the real world salary they can expect.


At the very least, this should be required for student loans. If the repayment is expected to take longer than 10 years, the loan should be denied.
 

BirdOPrey5

Staff member
Administrator
VIP
When I got loans we did have to attend a seminar that basically told us "Hey, you have to pay us back!" but lacked any details on the reality of what many majors were going to be making upon graduation.
 
During college I worked in a cannery all summer, every summer, from a few days after summer break started until I started falling behind in my classes in the fall. Often 7 days a week, sometimes 10+ hours a day. During the school year I worked one and sometimes two part time jobs on campus. The first month of my senior year I had a full class load, full time 7 day a week job working swing shift at the cannery 45 minutes away, and two part time on-campus jobs. On top of that my parents helped me out so I was able to graduate with some credit card debt but no student loans. Had I been forced to take out loans, I would have, then paid them back as soon as I was able.

I'm not saying I'm anything special, that was the mentality back in the 80's/90's in the small working class town where I grew up. The idea of students protesting and demanding everything be given to them just sickens me. Yes, I realize it's a lot more expensive now, but it's still possible for someone to get a degree from an in-state college and graduate without a mountain of debt. Just like back when I was in college you have to (GASP!!) work. Here is a novel idea, start at a community college then transfer to an in-state university after 2 years.

Forgiving all their student loans would send the wrong message. I've been working since I was around 13 - picking strawberries with the mexicans, then paper route, then at 15 worked in a bowling alley, worked in a grocery store from 16 until college. Now these young punks not only want me to pay their way but they somehow believe they deserve it!?!? Fawk them.

I'm proud of my son for his work ethic and attitude. He does yard and farm work for the neighbors, has been raising cows on his own for a year or two, and just got his EMR certification - kinda like a junior EMT. He's 16.
 

abqtj

I'm a damn delight!
Staff member
Administrator
VIP
I'm not saying I'm anything special, that was the mentality back in the 80's/90's in the small working class town where I grew up. The idea of students protesting and demanding everything be given to them just sickens me. Yes, I realize it's a lot more expensive now, but it's still possible for someone to get a degree from an in-state college and graduate without a mountain of debt. Just like back when I was in college you have to (GASP!!) work. Here is a novel idea, start at a community college then transfer to an in-state university after 2 years.

.
Agreed

Hell for 2 semesters I worked midnight to 6am...that sucked, but I got it done.
 
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