Why I left in 1983.
Posted on 02/26/2009 4:26:05 PM PST by giant sable
Here’s a quick and dirty guess: Upper-middle-class families in blue states–those President Obama calls “the rich”–will soon be paying 20% more a year in state and federal taxes. If you pay $100,000 off of a $300,000 income now, look for $120,000 in a couple of years.
Federal income taxes are going up, and deductions are going down.
That much we know. What we don’t know yet–but I would bet money on it–is if the 7.65% Social Security and Medicare tax ceiling will be lifted from $102,000 to $150,000 or so.
Taxes are headed up at the state and local level too. Residents in blue states like California and New York will be socked hardest.
(Excerpt) Read more at pajamasmedia.com ...
The interesting item is the accumulated income of the top 5% of AGI (Adjusted Gross Income). It is $2,977,714,000,000 or 2.978 trillion dollars. The top ZERO released his budget for 2009 of 3.855 trillion dollars and he plans to tax the rich to help pay that.
Now if he were to tax the top 5% of AGI at 100% he would still be short around 877 billion dollars. And what is even more interesting the top 5% earned from $153,542 up. That is a long way from the $250,000 he keeps saying will be the breakpoint.
In order to get his almost 4 trillion dollars he would have to tax the top 10%, earning at least $108,904, at 100%.
In order to get his almost 4 trillion dollars he would have to tax the ENTIRE TAX PAYING POPULATION, all 135,719,160 of them, with a tax rate of 50%.
The great ZERO is a fricking liar of the biggest magnitude.
I still win. Try being a Christian and a conservative in a hard core blue state as a university professor.
Well, it could be a good and instructive thing if some of the big blue states go bust. Why? Because they, unlike the Fed govt, cannot just print money. They will be forced to admit they need to CUT SPENDING!!! And lower taxes to improve their economies!
We need to think revolution. The founders included the second for such a reason. zer0 is going to tax us to the dirt. We can’t just lay down for it.
Yes, Connecticut with the highest income of any state will be the hardest hit by BO’s vendetta against the Evil Rich, with New York a close second. I’m sure they won’t mind subsidizing the fine conservative red states in the South where incomes for even professionals are lower because of the lack of unions.
How many reprimands so far?
if you lived in CA and made $250k/yr, this is how it would break down today:
| salary | $250k |
| fed tax | 35% |
| state tax | 10% |
| medicare + matching | 3% |
| ss + matching | 12% on first $100k |
60% on first $100k .. $60k tax due and 48% on the remaining $150k... or $72k.
| total tax | ~$132k |
| net (take home) | ~$118k |
assuming you have a mortgage, a mortgage of $500k isn't out of the question in CA. assuming 6% over 30 years, you're paying $3,000/month.
| mortgage | $3k | |
| property taxes | $1k | |
| home insurance | $1k | |
| electric | $250 | |
| car payment | $400 | |
| car insurance | $100 | |
| cable tv + internet | $100 | |
| water + sewage | $50 | |
| phone | $100 | |
| food | $500 | |
| -- | ||
| total household monthly expenses | $6.5k |
total expenses without leaving the house: ~$78k / year
this would leave about $40k / year, or ~$3300/month for spending.
this would not get your rich
raising the max fed rate from 35% to 40% would raise the total taxes due from $132k to $144.5k/yr. this would leave $27.5k / year, or $2300/month for spending
this would take $1,000 every month away from consumer spending and adding it directly to the wallets of washington fat cats.
you never see those asshats eating oodles of noodles and driving clunkers.
MUCH more concerned that they can learn from it.
Proverbs 26:11 -- As a dog returneth to his vomit, so a fool returneth to his folly.
Dont mess with Texas
Why I left in 1983.
Better the main burden fall on Blue States than on Red States. I left Michigan for Texas for a reason.
Way back in time the state of Florida created a market for orange juice by a well-run promotion campaign. What we need to do now is create a major market for alligator meat, we can raise alligators in large quantities by feeding them in enclosed pens. The meat is delicious and will sell well if we can keep the price down. The major expense is the feed, now here comes the kicker, what do we feed them? All them damned left wing fools that keep movin’ south, that’s what! There is an endless supply.
You got that right.This is where the first revolts will start if all hell breaks lose and you wouldn’t want to be a liberal in Texas looking for a job or living on the dole when it starts...just sayin....LOL!
“Better the main burden fall on Blue States than on Red States”
You got to start thinking like Obama and the marxists think. See...the plan is to ruin the blue states..then ship the blue state liberal yuppies to prospering red states looking for work. Then the dems have a take over of red states too and all that is left back in the failed socialist blue states are dependent democrat looters living off of our taxdollars.
See how that works?
Decades of marxist control of America. They will also make it hard now for people to afford to send their children to private K-12 schools(because the gov is taxing them to death)...so they are all forced into liberal/marxist run school systems to be indoctrinated. They will close the homeschooling programs as well.
It is all coming to pass fasted than anyone realized.
See how that works?
Decades of marxist control of America. They will also make it hard now for people to afford to send their children to private K-12 schools(because the gov is taxing them to death)...so they are all forced into liberal/marxist run school systems to be indoctrinated. They will close the homeschooling programs as well.
It is all coming to pass fasted than anyone realized.”
There's a $5.00 fine for whining.
It ain't gonna happen. I believe in the basic common sense of the American people.
If you really believe what you are saying — rather than just doing some venting — do yourself and the conservative movement a favor and kill yourself now. Defeatism has lost more wars than any other single factor. What Obama is giving conservatives and Republicans is the world's biggest Christmas present, all wrapped up in a big red bow. *IF* conservatives have the gumption to take advantage of the opportunity.
That's gonna take hard work — not whining. Liberal whine. Conservatives work. If you're going to just whine either become a liberal or kill yourself. Roll up your sleeves for the next two years because we can have the type of turnover we had in 1992 come 2010.
To quote Patton “We're going to hold ‘em by the nose and kick ‘em in the rear.”
Or maybe Danton is a better source of advice “de l’audace, encore de l’audace, et toujours de l’audace.”
Or maybe the old “Lead, follow, or get out of the way.”
Regardless, I don't need to hear more whining.
Be sure to adjust for inflation (the stealth tax). For 2008, it would have been an extra 3.5-4% haircut.
That would be entirely, completely, and in all other ways, INCONCEIVABLE.
The Dems may end up screwing themselves.
I’m stealing that!
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