Originally posted by AThousandYoungIts not a hissy fit. What he says is true .
I am not interested in analyzing the rules of the artificially created money game. I prefer to discuss physical reality.
We will not starve. We will not lose our land to military invasion. We will not become weak. The USA will be fine. Stop throwing a hissy fit.
Going by what you have said in the past in these forums about your occupation, one could get a ball park figure of your salary.( I assume you are in the middle class)
That being said, you are going to see an increase in your payroll taxes ATY. Roughly $3500-$4000 per year.
I know I cant afford that right now. Can you ?
Originally posted by utherpendragonHow did you come up with that number? Payroll taxes will go up 2% and might anyway. That doesn't add up to $3500-4000 for anybody (they are capped).
Its not a hissy fit. What he says is true .
Going by what you have said in the past in these forums about your occupation, one could get a ball park figure of your salary.( I assume you are in the middle class)
That being said, you are going to see an increase in your payroll taxes ATY. Roughly $3500-$4000 per year.
I know I cant afford that right now. Can you ?
As to Social Security, last year the trust fund took in about $30-40 billion less in revenue than it paid out. However:
Those gap calculations don’t take into account the interest accruing on Social Security assets that when factored in transforms a seeming deficit into a surplus.
http://www.thefiscaltimes.com/Articles/2012/10/03/Social-Security-Deficit-Could-Mean-a-25-Benefit-Cut.aspx#page1
So Social Security isn't fueling the budget deficit at all. Long term it needs to be addressed, but there is no urgency.
Originally posted by no1marauderSo you're just going to ignore the $64 trillion iceberg that we're on a collision course with?
As to Medicare:
Total expenditures in 2011 were $549.1 billion. Total income was
$530.0 billion.
https://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Trends-and-Reports/ReportsTrustFunds/downloads//tr2012.pdf
at p. 6
"Patently absurd"? Look at something besides right wing blogs.
Originally posted by sasquatch672Are you willing to throw the country over the fiscal cliff for the equivalent of TWO DAYS of government expenditures?
So you're just going to ignore the $64 trillion iceberg that we're on a collision course with?
The programs need a fix. But they are not matters of extreme urgency.
Originally posted by no1marauderNEW YORK (CNNMoney) -- American households face an average tax increase of $3,500 if Congress doesn't act to avert the fiscal cliff, according to a new analysis from the Tax Policy Center.
How did you come up with that number? Payroll taxes will go up 2% and might anyway. That doesn't add up to $3500-4000 for anybody (they are capped).
Overall, 88% of households would end up with higher taxes.
http://money.cnn.com/2012/10/01/pf/taxes/fiscal-cliff-tax/index.html
Originally posted by utherpendragonFirst, that isn't just payroll taxes.
NEW YORK (CNNMoney) -- American households face an average tax increase of $3,500 if Congress doesn't act to avert the fiscal cliff, according to a new analysis from the Tax Policy Center.
Overall, 88% of households would end up with higher taxes.
http://money.cnn.com/2012/10/01/pf/taxes/fiscal-cliff-tax/index.html
Second, the median household income is about $46,000. http://www.fedupusa.org/2010/01/how-much-does-the-average-american-make-breaking-down-the-u-s-household-income-numbers/
So the tax increases would be much lower for the average household than the figure claimed.
Third, we're running a budget deficit and our Federal taxes are at the lowest level as a percentage of GNP since 1950. If right wingers want to do anything about the deficit, raising taxes is absolutely essential. If they don't want to do anything about the deficit, maybe they should stop screaming every time a vote to raise the debt ceiling comes up.
Originally posted by no1marauderHigher taxes do nothing to fix our long term problems. There's no point. The things that fix our problems are taking things away from people.
Are you willing to throw the country over the fiscal cliff for the equivalent of TWO DAYS of government expenditures?
The programs need a fix. But they are not matters of extreme urgency.
Originally posted by sasquatch672If the deficit is a problem, raising tax rate to what they were before they largely created the deficit (along with the wars you loved soooooooooooooooo much) addresses that problem. If the deficit isn't a problem, stop complaining about it and blocking increases in the debt ceiling.
Higher taxes do nothing to fix our long term problems. There's no point. The things that fix our problems are taking things away from people.
Originally posted by sasquatch672How many times do I need to tell you that the richest people are capitalists and they don't labor - they make the laborers pay them some of the fruits of their labor. For someone as arrogant about economics knowledge to keep making that mistake is evidence of a lack of personal honesty on your part.
Oh yes I can. People have the right to the fruits of their labor. That's about as Natural a Right as you can come by.
Originally posted by utherpendragonIf I'm making enough that I'm being taxed four thousand bucks a year then clearly I can afford it. Better me than those poor future generations that get so often brought up in these discussions.
Its not a hissy fit. What he says is true .
Going by what you have said in the past in these forums about your occupation, one could get a ball park figure of your salary.( I assume you are in the middle class)
That being said, you are going to see an increase in your payroll taxes ATY. Roughly $3500-$4000 per year.
I know I cant afford that right now. Can you ?
1 edit
Originally posted by no1marauderFirst , are you denying 88% of households in the U.S. will see their taxes raised ?
First, that isn't just payroll taxes.
Second, the median household income is about $46,000. http://www.fedupusa.org/2010/01/how-much-does-the-average-american-make-breaking-down-the-u-s-household-income-numbers/
So the tax increases would be much lower for the average household than the figure claimed.
ficit, maybe they should stop screaming every time a vote to raise the debt ceiling comes up.
Second, what is this median household figure you quote about ? 64K per year is not "middle class ? Is that what you are saying ? I dunno.
Third, did Obama not say "Anyone making under 250K will not see a raise in their taxes. Period" ?