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Beginning Jan. 1, 2013, there will be a new tax
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2012 Apr 4, 10:48am 40,696 views 72 comments
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I just don't like who is targeted. How many married couples with children lets say in bay area with income $250,000+ feel rich? We don't, even though we considered the top 1% (although the bottom one) :( Why singles treated better than married; $200,000 for singles and only $250,000 for married?
A friend said 350k is a poverty line in bay area, the ironic top 1%. In a drastic action to reduce the tax, she is considering separation. According to her, she could have saved additional >50k (combined income of 400k) a year.
Does this only affect real estate or any kind of income?
Ignorance is the hallmark of right-wingers. Read my first comment again, and try to engage the brain.
I can't resist but to comment on this. If ignorance is the hallmark of right-wingers, then I would say arrogance would be the equivalent to apply on left-wingers. Thought there is a saying that arrogant people tend to arrive the wrong conclusion with 100% confidence. And, ignorance could be a bliss too. So, I guess i rather be ignorant than arrogant.
justme: who made you moderator? There are numerous new and exciting taxes in Obamacare that are not just limited to selling houses.
"Just pay your taxes"? How about: Just keep your hands out of my pocket and off my wallet.
RE: Switzerland is expensive. This is just because the Swiss are financially astute enough so that their CURRENCY isn't falling, while everyone else's is falling relative to Swiss Francs.
I remember when I visited Switzerland, it was fantastic, and 1 US dollar=3 Swiss Francs.
Well, today it's I.25 US dollar=1 Swiss Franc.
Of course, the problem today in Switzerland is that they are almost so financially superior to everyone else that their stong currency is too strong and may hurt their exports and other business that trade.
No capital gains taxes, every guy has his own SIG assault rifle to keep, banks that keep your accounts private if you didn't steal it, the right to die if you are a terminal patient with no hope, and low taxes.
In many ways, Switzerland is freer than the USA and definitely has a superior currency.
If taxes doesn't affect business, why are they moving from California to Texas?
justme
2012 Apr 5, 5:43pm
Mick,
That last long paragraph is by George Carlin, truth be told.
Good job on the original stuff, though!
justme
2012 Apr 5, 6:16pm
I can't resist but to comment on this. If ignorance is the hallmark of right-wingers, then I would say arrogance would be the equivalent to apply on left-wingers.
I don't think pointing out the ignorance and lies of the right wing counts as arrogance.
The right wing does however like to claim that other people are arrogant in order to silence them. That that does not work on me.
SiO2 says
thomas.wong1986 says
Many homeowners like me who bought many years ago, long before the bubble will be impacted.
Thomas, just wait until prices go back to 1992 levels or lower (as is often predicted), then you won't have to pay the tax.
Yup, problem solved. That goes to show if you find yourself complaining about paying taxes on your gains, things are not that bad for you. Gain=good, Loss=Bad
Prices back to 1992 adjusted for inflation NO problem since that would be the normal long term appreciatied value..
and just falling back to some rational time would be more wiser and healthier for the BA economy... I, like many, will look forward to keeping our jobs here...
The industry here is GROWING.
15 out of 290 jobs listed are in SD the rest are elsewhere in US.
Not that of a biggie..
United States-Connecticut-Groton
United States-Massachusetts-Andover
United States-Massachusetts-Cambridge
United States-Michigan-Kalamazoo
United States-Missouri-Chesterfield
United States-Missouri-Hannibal
United States-Missouri-Saint Louis
United States-New Jersey-Madison
United States-New Jersey-Peapack
United States-New York-New York
United States-North Carolina-Durham
United States-Tennessee-Memphis
United States-Virginia-Richmond
Novartis also has lots of positions open right now in their San Diego center, most of which pay well into six figures.
Still putting up a bunch a BS on Biotech Pharma... Like so many Realtors you like to justify SD Prices due to some high fabled salaries.
The reality is like any other business the divisional and dept managers at Novartis have a limited budget they can spend on.. and they dont just hand out six figure salaries like lottery tickets. And with any Bio Pharma cos. the budget on long term projects that can last 10-15 years until full FDA approval, they are very mindfull not to burn that cash too quickly.
The sheeple just don't get it. This will drive house prices up. Who will pay the tax? Indirectly: home buyers. And through inflation, eventually everyone will pay.
Keep in mind, the 3.8% tax is on passive income (hint: rental income, hint, hint). Therefore, do expect rents to go up accordingly. The sheeple just don't get it... "tax the rich, tax the rich...!" The taxes trickle down, always.
I just don't like who is targeted. How many married couples with children lets say in bay area with income $250,000+ feel rich? We don't, even though we considered the top 1% (although the bottom one) :( Why singles treated better than married; $200,000 for singles and only $250,000 for married?
Boo hoo! You probably don't feel rich because you choose to live in one of the most overpriced areas in the country. That's your decision though; it doesn't change the fact that you're technically rich.
This country is going broke and the middle class has been carrying the load the whole time. It's about time the upper class starts helping out.
this is such an ignorant comment. BOohoo for you for not making as much. why do you feel justified in making others pay just because they have more money than you????
Talk about class warfare..
FortWayne
2012 Apr 10, 12:49pm
Why should anyone pay more taxes to the government, based on some arbitrary number 200k and 250k... just more racket by the unions who can never sustain their lala land benefits that they promised to themselves.
justme
2012 Apr 14, 4:07am
Why should anyone pay more taxes to the government, based on some arbitrary number 200k and 250k... just more racket by the unions who can never sustain their lala land benefits that they promised to themselves.
This quote establishes that there is NO point in trying to discuss the merit of any given tax with FortWayne, specifically. He does not think taxes have any merit, so just forget it.
However, there is still merit in pointing out lies(*) about taxes, when the right-wingers feel that the truth just is not good enough to make their point. We can keep that part of the discussion going, it definitely has value.
(*) Not by FortWayne, necessarily, although he did exhibit some ignorance about the nature of this is particular tax in the above postings.
If wanting to keep other people's hands off my wallet makes me a "right-winger" does someone wanting to take it make them a thief or just an asshole?
Robber Baron Elite Scum
2012 Apr 15, 2:53pm
This country is going broke and the middle class has been carrying the load the whole time. It's about time the upper class starts helping out.
It's about time the upper class starts helping out.
They pay the majority of the taxes.
Not taking sides, just stating facts.
Upper class you refer too are just well-off not super mega wealthy
rich.
The super-mega wealthy rich are the ones who don't pay hardly any tax because they can hire very good accountants and attorneys to fight it.
But that's besides the point... Most of the taxes in this country are unconstitutional and are going towards complete waste.
Taxing people and starting a war against the upper class is not going to solve nothing except feeding the people who forcefully demand the illegal tax money that ends up going to waste anyway.
The US deficit, debts and tax problems are a nationwide systemic problem not a financial problem.
That's your decision though; it doesn't change the fact that you're technically rich.
Rich is having a incoming high cash flow compared to the rest of the population.
Wealth is having a high preservation of an asset that may either go up in value or down.
Being wealthy and rich are two different concepts. Just as saving wealth is different than making money that maybe saved, converted and turned into an asset.
hanera
2012 Apr 15, 6:20pm
Taxing people and starting a war against the upper class is not going to solve nothing except feeding the people who forcefully demand the illegal tax money that ends up going to waste anyway.
The US deficit, debts and tax problems are a nationwide systemic problem not a financial problem.
Is a problem of spending too much, not because of insufficient revenue. Increasing taxes and printing money don't solve the root problem, government needs to exercise self-restraints.
Robber Baron Elite Scum
2012 Apr 15, 8:56pm
Is a problem of spending too much, not because of insufficient revenue. Increasing taxes and printing money don't solve the root problem, government needs to exercise self-restraints.
Which is exactly what I said.
tatupu70
2012 Apr 15, 9:24pm
Is a problem of spending too much, not because of insufficient revenue. Increasing taxes and printing money don't solve the root problem, government needs to exercise self-restraints
Which is exactly what I said
And you're both wrong. Spending cuts AND increased revenue are both needed. Additionally, changes in tax structure are needed to reduce income inequality.
You can bring up the class warfare bullshit, but it's pretty simple. In order to increase tax revenue, you have to get it from rich people--poor people simply don't have any to give.
Robber Baron Elite Scum
2012 Apr 15, 9:40pm
AND increased revenue are both needed.
No it's not.
In order to increase tax revenue, you have to get it from rich people
In order to increase business profitability due to over-taxation, you have to now lay off 10,000 workers and decrease paychecks for existing workers.
Nice job with that tax structure, tatupu70.
You can bring up the class warfare bullshit
There is a very real and very much unneeded class warfare happening in America.
poor people simply don't have any to give.
And then neither will the rich people.
Your idea is a most idiotic one. And over the history of this forum... I have personally always have you come across as a know-it all.
Taxation of any group will always result in indirect taxation of other groups.
All that tax money is going to pay interest on bogus debt of paper money created by the fraud called the "Federal Reserve" which is a private bank that lends money to the government. The agency working on it's behalf is the "IRS"...
Go and support more illegal taxes, tatupu70...
The truly mega rich will still not pay any tax and even if they were forced all of them would pack their bags and leave...
Mega-rich people are not attached to anything. They do not get emotional. If they have to leave the USA... They will...
You can than enjoy getting laid off from a job that a rich person is providing for you. Have fun eating your own shit for dinner...
tatupu70
2012 Apr 15, 10:14pm
In order to increase business profitability due to over-taxation, you have to now lay off 10,000 workers and decrease paychecks for existing workers.
Nice job with that tax structure, tatupu70.
How will increasing taxes on the wealthy affect business profitability? Decreasing income inequality will lead to MORE sales and MORE jobs, not fewer.
The truly mega rich will still not pay any tax and even if they were forced all of them would pack their bags and leave...
Good--don't let the door hit them in the ass as they leave.
You can than enjoy getting laid off from a job that a rich person is providing for you. Have fun eating your own shit for dinner...
The rich don't provide the jobs. Nice try though.
Robber Baron Elite Scum
2012 Apr 15, 10:51pm
Decreasing income inequality will lead to MORE sales and MORE jobs, not fewer.
We are talking about INCREASING TAX not income equality.
Learn to read and stay on topic.
Increasing taxes on the rich is not going to do anything except make them do cutbacks in business and layoff employees.
Less people with jobs and money would lead to LESS sales and LESS jobs, not more.
Good--don't let the door hit them in the ass as they leave.
Have fun with communism.
The rich don't provide the jobs. Nice try though.
Honestly... Really? You Believe That?
This statement really makes me think you are either...
1) A Troll
2) Mentally Disabled
3) Extremely Jealous of Rich People & Deluded By Your Jealousy to Believe Such Idiotic Statements.
4) A Kid.
5) A Combination of All Four
Show me any person that ever claimed a poor person gave them a job and I will show you a liar.
Please... Stop commenting. A little knowledge is a dangerous thing.
freak80
2012 Apr 15, 11:41pm
But what about Warren Buffet's (now famous) line: "there IS class warfare, and my side is winning" or something to that effect?
I don't think we need to go back to an 80% top marginal tax rate, but I think it's crazy that Warren Buffet often pays a lower tax rate than his secretary.
It seems like the capital gains tax should be raised for "ultra-high" net worth individuals. Or, if we still want to do the Reaganomics thing, we should at least lower middle class tax rates to the capital-gains tax rate. But that's probably not possible given our massive deficits.
tatupu70
2012 Apr 15, 11:54pm
We are talking about INCREASING TAX not income equality
Wrong. We are talking about changing the tax code and making it more progressive. That is one method for reducing income inequality. The current income disparity is the #1 problem with our economy right now IMO. Any changes to the tax code have to be made with this in mind.
Honestly... Really? You Believe That?
Yes, because it's true. You have been fed right wing propaganda and have lapped it up like a little kitten. The rich have become exponentially more wealthy over the last 20-30 years. According to you, that should have created lots of jobs, right?? Well, where are they??
Demand creates jobs. End of story. When you move the money into the hands of people that will spend it, then you will create jobs.
freak80
2012 Apr 16, 12:01am
Demand creates jobs. End of story. When you move the money into the hands of people that will spend it, then you will create jobs.
True. The lower-classes end up giving the money right back to the banking aristocracy. With jobs created in the process...at least temporarily.
Ever see Dave Cheppelle's "Slave Reparations" episode? You know, the "I'm rich, biiatch...*honk-honk*" episode.
tatupu70
2012 Apr 16, 12:20am
The lower-classes end up giving the money right back to the banking aristocracy. With jobs created in the process...at least temporarily
True--some will naturally make it's way back to the top. Which is why a progressive tax code is needed to continuously counter this natural movement towards the rich gettting richer and the poor poorer.
Robber Baron Elite Scum
2012 Apr 16, 12:34am
When you move the money into the hands of people that will spend it, then you will create jobs.
No. Spending per say doesn't create jobs. It creates a lack of savings, debt and poverty.
Innovation, invention, production, factories, manufacturing and advertising create the jobs.
Demand creates jobs.
Demand entices a capitalist to start a business for that demand. The business then hires.
You need money for business. Usually people with money own businesses. Therefore rich people hire mostly.
Well, where are they??
When you create labor unions... That's what you get. Capitalists and barons are not going to put with bullshit demands of employee benefits and the never-ending list of entitlements.
I personally can care less about outsourcing. I support it. Their is nothing illegal or unconstitutional about it.
You whining sheeple need to grow up out of your narcissism to think you aren't easily replaceable.
If a company hired you for 20 years and then fired you... So what? They agreed to pay you as they wish when they need you and that's it. They never agreed to marry you forever...
That is one method for reducing income inequality.
Income equality will only be possible with communism. There can NEVER be income equality in a free fair capitalist market because you will always have some lazy deadbeat piece of fuck who refuses to put in any type of work...
This concept can only be supported by someone that is dumb.
Study the 80/20 rule.
Throughout ALL of human history... 20% will always own 80% of wealth. This has been the case in every single type of system and government.
The current income disparity is the #1 problem with our economy right now IMO
I think more a lack of fairness is the problem. I will agree with you that they are people who earn a lot less than they should...
But I completely disagree that income equality would ever happen because not everyone DESERVES and EARNS the same income.
Some people make $1 million because they EARNED it and others make $30K because that's ONLY what they EARNED.
You have been fed right wing propaganda
Communism isn't too great either.
Wrong. We are talking about changing the tax code and making it more progressive.
NO, YOU ARE WRONG! Period!!!!
That's called raising the taxes on people with higher income. Not only is that increasing taxes but that's creating income inequality by taking more from people just because they make more money... The very thing you disdain.
That's discrimination based on income, exploiting people and punishing hard work. Hard work being punished and laziness being rewarded is a perfect recipe for income inequality.
http://www.investopedia.com/terms/p/progressivetax.asp
Read that link and stop being such a stupid damn idiot. Epic fail...
It's so obvious that you have a passion of jealousy for people who have stuff that you don't.
Robber Baron Elite Scum
2012 Apr 16, 12:45am
And by the way...
The US already has an extremely progressive tax system.
You claim, tatupu70... That we need more of it.
Well obviously it's not working. Yet you still support it.
"Doing the same thing over and over but expecting a different result each time is the definition of insanity."
-Albert Einstein.
Please develop some intelligence. But hey... Sheeple love being stupid
Robber Baron Elite Scum
2012 Apr 16, 12:54am
to continuously counter this natural movement towards the rich gettting richer and the poor poorer.
Rich getting richer because the poor are stupid enough not to work harder, fail to compete or do anything about it is fair game.
Survival of the fittest.
progressive tax code is needed
We already fucking have one...
And the taxes that are collected do not go back to the poor. They just pay off interest from phony debt created by paper currency.
This encourages more debt and more inflation. The people most hurt by inflation are the poor.
Rich people do not have all their majority assets in paper money. They tend to hold physical valuable appreciating assets.
Robber Baron Elite Scum
2012 Apr 16, 12:57am
The rich have become exponentially more wealthy over the last 20-30 years.
Good. Fuck you peasants.
tatupu70
2012 Apr 16, 1:00am
No. Spending per say doesn't create jobs. It creates a lack of savings, debt and poverty.
That statement is so ridiculous, I'm not even sure how to respond to it. If this is truly how you think, I'm not sure why I'm wasting my time.
Demand entices a capitalist to start a business for that demand. The business then hires
See, you do understand. Now don't let the propaganda take over....
You need money for business. Usually people with money own businesses. Therefore rich people hire mostly.
Crap. Too late. OK--let me try this a different way. Small businesses in the US account for roughly 50% of the GDP and more than half of US employment. The vast majority of those businesses were NOT formed by rich people.
The US isn't lacking for jobs because of a lack of capital. Look at interest rates. There is so much money sitting around right now looking for investments that it is laughable.
When you create labor unions... That's what you get
More right wing BS. Labor unions are not the problem. And the rest of your rant is completely off topic. We're not talking about outsourcing--where the hell did that come from?
But I completely disagree that income equality would ever happen because not everyone DESERVES and EARNS the same income.
Some people make $1 million because they EARNED it and others make $30K because that's ONLY what they EARNED.
I'm laughing right now. So, what did the CEO do that EARNED him 300X more than the guy that actually performed the labor to make the widget?? What did the guy on Wall St. do to EARN his 8 figure bonus check? Really? They EARNED it?
Communism isn't too great either.
Nope. I agree. Nobody wants communism.
Not only is that increasing taxes but that's creating income inequality by taking more from people just because they make more money... The very thing you disdain.
Uh, if you take money from the rich and give it to the poor, that reduced income inequality. I hope you get that.
That's discrimination based on income, exploiting people and punishing hard work. Hard work being punished and laziness being rewarded is a perfect recipe for income inequality.
Nope. It's called creating an economy that allows everyone to succeed. Forgive me if I don't cry a river because someone making $2MM/year has to pay 30% taxes instead of 15%.
tatupu70
2012 Apr 16, 1:02am
The US already has an extremely progressive tax system.
You claim, tatupu70... That we need more of it.
Well obviously it's not working. Yet you still support it.
The US USED to have an extrememly progressive tax system. And it did work VERY well.
Then Mr. Reagan came along and blew it apart. And things have gone to the toilet ever since.
This is well documented.
tatupu70
2012 Apr 16, 1:03am
Rich getting richer because the poor are stupid enough not to work harder, fail to compete or do anything about it is fair game.
That's a nice narrative, but we all know it's bullshit. The rich do not get richer becuase they work harder. Let's agree to put that myth to bed.
Robber Baron Elite Scum
2012 Apr 16, 1:42am
See, you do understand. Now don't let the propaganda take over....
Demand is useless without capital and funding enterprise it.
That statement is so ridiculous, I'm not even sure how to respond to it. If this is truly how you think, I'm not sure why I'm wasting my time.
This statement is so useless and full of useless opinion, I'm not even sure why it matters to say. If this is truly how you think, I'm not sure why I'm typing this right now.
There is so much money sitting around right now looking for investments that it is laughable.
Which would create inflation anyway... That point is mute altogether.
The US isn't lacking for jobs because of a lack of capital.
Yes it is. Why else are companies outsourcing, hiring cheaper labor and cutting costs as much as possible?
We're not talking about outsourcing--where the hell did that come from?
You asked...
According to you, that should have created lots of jobs, right?? Well, where are they??
OUTSOURCING AND COMPUTER AUTOMATION!!!
Labor unions are not the problem
They are the biggest problem. I know a guy who owns a small-business grocery store...
And the labor unions are completely corrupt. They are completely hurting is business.
Labor unions make it a lot more tough for small businesses.
Crap. Too late. OK--let me try this a different way. Small businesses in the US account for roughly 50% of the GDP and more than half of US employment. The vast majority of those businesses were NOT formed by rich people.
If that's true...
Progressive taxes actually hurt these people. Mega-corporations like Amazon, Google, Microsoft and Apple... Do not pay these taxes.
Your support of progressive tax will never hurt the wealthy like I originally said.
They will only hurt well-off people NOT rich or wealthy but like I well-off people.
Mega-rich and wealthy have accountants along with the lawyers to prevent that.
So, what did the CEO do that EARNED him 300X more than the guy that actually performed the labor to make the widget??
The audacity to look a peasant in the eye... And tell him to bow down to the company in worship.
Very people have such an ability and without it... The company can't make thr widget.
Basically he is the leader. Without a leader, nothing can be successful. Leaders are responsible for all failures and success.
What did the guy on Wall St. do to EARN his 8 figure bonus check? Really? They EARNED it?
Being a wall street con-artist... Takes a lack of morality. Most people have morals 'm afraid.
When you rob someone, you teach them a lesson. That's how thieves earns their money. Only thieves who are caught get punished because they failed to do their job and should be taught to steal better.
if you take money from the rich and give it to the poor, that reduced income inequality
No. That's providing a income to someone who can't do it themselves. That's not income equality because the rich person has to work more to get money for himself while the poor person has other get some money for him.
And taxes you pay will never go much to the poor. Even if it did, socialism failed in all of history.
Peasants will always exist. Who CARES about the poor. It's their problem.
Nope. It's called creating an economy that allows everyone to succeed.
Not everyone wants to succeed.
Robber Baron Elite Scum
2012 Apr 16, 1:45am
The rich do not get richer becuase they work harder
I only partially agree with you. They do also work smarter. But the defiantly put in some hard work BUT only once... They work hard and smart to set-up the business. Then the employees do all the work while they relax and do nothing...
Fuck you peasants.
Robber Baron Elite Scum
2012 Apr 16, 1:50am
The US USED to have an extrememly progressive tax system. And it did work VERY well.
Socialism has always failed.
Progressive and anti-business states are also failing.
tatupu70
2012 Apr 16, 2:09am
Yes it is. Why else are companies outsourcing, hiring cheaper labor and cutting costs as much as possible?
Because then the top execs can earn $10MM instead of $5MM. It has absolutely NOTHING to do with a lack of capital.
How do draw any connection between a perceived lack of capital and outsourcing??
Robber Baron Elite Scum
2012 Apr 16, 10:38am
the top execs can earn $10MM instead of $5MM.
Because companies need them. Without someone being a able to run a company properly which includes managing, directing and giving orders...
The company can fail. CEO is the leader for the company. They can either make or break the company.
You just can't get this through your head...
A phone rep in India can be just as good as a phone rep in the US. It will not make much of a difference for the company and they can hire the indian worker much much cheaper.
So it has everything to do with CAPITAL... They don't want to waste it and I don't have a single problem with that.
I would do the same as well.
tatupu70
2012 Apr 16, 1:09pm
Because companies need them. Without someone being a able to run a company properly which includes managing, directing and giving orders...
The company can fail. CEO is the leader for the company. They can either make or break the company.
And companies could find someone to do just as well for 1/100th of the salary they are paying their current CEO. But instead of cutting costs at the executive level, they choose to cut them at the lowest levels instead.
Robber Baron Elite Scum
2012 Apr 16, 2:34pm
And companies could find someone to do just as well for 1/100th of the salary they are paying their current CEO.
Again...
The CEO is the leader of the whole entire company. Everything is his fault. If the company messes up, he messes up.
This position carries a lot of responsibility, work, stress, pressure and very very good leadership abilities.
Hardly anybody is going to accept 1/100th of current salaries.
CEOs must be compensated properly.
Why pay the low levels more money? They are the bottom feeders of the pyramid. That's how every corporation works. It's a pyramid structure.
By the way, you are the one assuming every company pays their CEO that much.
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Beginning January 1, 2013, there will be a new tax imposed regarding income derived from a sale of real estate. The tax only applies to so-called “high income†tax payers: Singles whose adjusted gross income (AGI) is over $200,000 and married couples whose adjusted gross income is over $250,000. This new “surcharge†tax will be added to the regular taxes paid on income and will be 3.8%.
http://www.ksefocus.com/billdatabase/clientfiles/172/8/1437.pdf
#housing