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Out of the Blue

[Jun 05, 2004, 1:51 pm ET] - Share - Viewing Comments

Hey! It's 06/05/04 today, at least in typical American notation... What say we all wait until exactly 3:21:00 and all simultaneously shout "blastoff!" Oh well, maybe not... especially since that would have been more appropriate at 3:21 a.m. Well, appropriate is probably the wrong word to use there either... Hmmm, nevermind.

Play Time:	SpaceWander Roundtrip First Class. Thanks javagrrl9.
Links of the Day:	ImplosionWorld.com Thanks Ant and memepool.com. Camouflage Duct Tape ~ Camouflage Gaffers Tape.
Stories of the Day:	Man Driving Armored Bulldozer Rampages Through Town. Thanks Kar. Elderly woman awarded $1.2 million for ant attack at nursing home. Thanks Bronco (and not Ant?). How it feels to get shot.
Science!:	Cassini spacecraft closing in on Saturn. Ocean explorer returns to Titanic. Drowning in an Ocean of Plastic.
Media of the Day:	Outlet Industries four-cross wheelchair. Thanks Jim Chaney.
Auctions of the Day:	Baldur's Gate II Premium Golden Ale & Glass Tankard. Star Wars Episode 3 - ILM - RARE - Crew Lint. Thanks Gordon.
Follow-up:	Transit of Venus.
Thanks Mike Martinez

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39.

Re: Halsy

Jun 6, 2004, 12:14

SmyTTor

Well, for starters, since when does basic math apply to the tax codes? There is no such thing as a flat tax, so no, it's not even close to even taxation. Right now, people with salaries up to around $120k pay roughly 33% to taxes. The majority of people with income of $1+million pay on average 6% with all of Bush's tax cuts. Let's take you example of minimumish wage $12kish a year. Not exactly a liveable wage, is it? Now take out $3500 for taxes. That's $8.5k net. Now we contrast that with say a $5million income. If that person were to recieve all the Bush cuts, they would owe only around $300k. Now take the costs of day-to-day living and think about $8k vs $4.7million. If the $5mil person had been taxed at an equal amount then the taxes they have to pay would be around $1.5million. That's a lot of cash to pay out, but it's exactly the same percentage as a minium wage earner who can't even survive the current cost of living index even if they pay no taxes at all. We're talking poverty level. Without the lower wage earners the higher wage earners would not be able to earn what they do. It's the way things work. You think if the 90+ percent of under $120k earners stopped working all the high wage earners would continue to reap large salaries? Rich or poor, everyone uses the infrasturctes in the country, every needs health care, domestic and national security, etc. I'd start whippin out the exact numbers from the IRS reports, but since this is still Saturday's messages, not going to bother because the new ones will be up soon. I love that reasoning, though. Why should I go to college and earn more money if I have to pay more taxes? Hehe. Philosophy and critical thinking really needs to be taught in schools today.

Subject

Comment [quote="SmyTTor"Jun 6, 2004, 12:14]Well, for starters, since when does basic math apply to the tax codes? There is no such thing as a flat tax, so no, it's not even close to even taxation. Right now, people with salaries up to around $120k pay roughly 33% to taxes. The majority of people with income of $1+million pay on average 6% with all of Bush's tax cuts. Let's take you example of minimumish wage $12kish a year. Not exactly a liveable wage, is it? Now take out $3500 for taxes. That's $8.5k net. Now we contrast that with say a $5million income. If that person were to recieve all the Bush cuts, they would owe only around $300k. Now take the costs of day-to-day living and think about $8k vs $4.7million. If the $5mil person had been taxed at an equal amount then the taxes they have to pay would be around $1.5million. That's a lot of cash to pay out, but it's exactly the same percentage as a minium wage earner who can't even survive the current cost of living index even if they pay no taxes at all. We're talking poverty level. Without the lower wage earners the higher wage earners would not be able to earn what they do. It's the way things work. You think if the 90+ percent of under $120k earners stopped working all the high wage earners would continue to reap large salaries? Rich or poor, everyone uses the infrasturctes in the country, every needs health care, domestic and national security, etc. I'd start whippin out the exact numbers from the IRS reports, but since this is still Saturday's messages, not going to bother because the new ones will be up soon. I love that reasoning, though. Why should I go to college and earn more money if I have to pay more taxes? Hehe. Philosophy and critical thinking really needs to be taught in schools today. [/quote]

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