Who Are The "Rich", and How Much Taxation Is "Fair"?

[BLAZER PROPHET]

Who determines this stuff?

How and who defines what it means to be "rich" with respect to taxation?

And what is the barometer of what is "fair"?

Is an annual gross income of $100,000 equal "rich"? How about $250,000? Or, $1,000,000? More? Less?

And what is "fair" for taxation? 30%? 40%? 60%? 90%?

This is one of the problems I have with our current tax system. Left leaning politicians determine who is "rich" and then determine what taxation levels are "fair". Fair to who? And why?

Is it fair for singers, actors and other entertainers to have third world production companies where they hide and shield 90% of their income? Is it fair for corporate execs receiving millions of dollars in bonuses to move to a non income tax state, collect their bonuses, and then move back and not pay the state income tax?

This arbitrary system of taxation is part and parcel of our problems today in the economy. This is why I strongly support an end to our current taxation system and go to a flat tax- the same for every citizen. If you're going to have skin in the game, you have to play the game.

 

[Denny Crane]

$50K in california and you need roommates.

$50K in Alabama and you've got a comfortable living.

$1M might buy you a house in California. $10K might buy you a house in Detroit.

One size fits all!

 

[Nate4Prez]

If your household income is greater than $100,000.00 a year you are in the top 15% of the population.
If your household income is greater than $250,000.00 a year you are in the top 2% of the population.

Just my opinion here, but if you are in the top 2% of the population, I would consider you rich (no matter where you live).

 

[Mediocre Man]

If your household income is greater than $100,000.00 a year you are in the top 15% of the population.
If your household income is greater than $250,000.00 a year you are in the top 2% of the population.

Just my opinion here, but if you are in the top 2% of the population, I would consider you rich (no matter where you live).

I completely disagree. Like Denny said, someone like me who makes a decent living at over 100k a year can live somewhat comfortably in Houston, but my same salary in San Diego wouldn't buy a house big enough for my family. Might not even rent one big enough

 

[Denny Crane]

$10,000 a month gets you a crappy apartment in New York City. That's rent.

 

[blazerboy30]

If your household income is greater than $100,000.00 a year you are in the top 15% of the population.
If your household income is greater than $250,000.00 a year you are in the top 2% of the population.

Just my opinion here, but if you are in the top 2% of the population, I would consider you rich (no matter where you live).

You havn't been to Silicon Valley, eh?

 

[blazerboy30]

$10,000 a month gets you a crappy apartment in New York City. That's rent.

Also not true.

 

[blazerboy30]

The problem with this question, IMO, is that the entire premise is flawed.

Nobody should be deciding who ELSE is rich. Give everybody the same tax RATE, make everybody have some skin in the game for spending increases, and forget about this ridiculous class warfare garbage.

 

[maxiep]

The problem with this question, IMO, is that the entire premise is flawed.

Nobody should be deciding who ELSE is rich. Give everybody the same tax RATE, make everybody have some skin in the game for spending increases, and forget about this ridiculous class warfare garbage.

This. How much I or anyone else makes is no one's fucking business.

 

[maxiep]

http://www.taxfoundation.org/blog/show/27530.html

 

[BLAZER PROPHET]

The problem with this question, IMO, is that the entire premise is flawed.

Nobody should be deciding who ELSE is rich. Give everybody the same tax RATE, make everybody have some skin in the game for spending increases, and forget about this ridiculous class warfare garbage.

That's what I was getting at. I agree with your post 110%.

 

[Klinky]

What is a fair flat tax rate? I am pretty sure most of you would probably pay more in taxes with a flat tax than what we currently have in place. This is any scenario like Libertopia where we get rid of the government.

 

[Denny Crane]

10%, no deductions.

That'd be about $1.5T in revenue for the government.

If people want in to programs like SS, they can pay extra.

 

[BLAZER PROPHET]

What is a fair flat tax rate? I am pretty sure most of you would probably pay more in taxes with a flat tax than what we currently have in place. This is any scenario like Libertopia where we get rid of the government.

I've heard that a plan worked on by Sen Wyden states that 8% flat tax would exceed current revenues.

 

[Denny Crane]

*

I've heard that a plan worked on by Sen Wyden states that 8% flat tax would exceed current revenues.

http://www.taxfoundation.org/blog/show/27530.html

Recently released IRS data for 2009, shows that taxpayers earning over $200,000 paid 50 percent of the $866 billion in total income taxes paid that year, or $434 billion. Skeptics will say, "That's because they earn the majority of the income in America. Not so. These taxpayers earned 25 percent of the $7.6 trillion in total adjusted gross income in the country that year.

.08 * $7.6T = *$608B, which is 75% of the $866B in taxes paid. However, the $7.6T is "adjusted gross income" - so factoring out the deductions that adjust that gross income, 8% probably does bring in more income.

 

[Natebishop3]

"Rich" is defined as - anyone who has more money than me.

 

[ABM]

That's what I was getting at. I agree with your post 110%.

Did you just over-tax his statement?

 

[BLAZER PROPHET]

Did you just over-tax his statement?

Yes, his statement was very rich.

Therefore, he deserves it.

 

[ABM]

Yes, his statement was very rich.

Therefore, he deserves it.

15% in here account for 85% of the quality posts.

 

[blazerboy30]

What is a fair flat tax rate? I am pretty sure most of you would probably pay more in taxes with a flat tax than what we currently have in place. This is any scenario like Libertopia where we get rid of the government.

I'm pretty sure you're wrong.

 

[BLAZER PROPHET]

From what I read,probably the best idea is a sales tax on incomes under $30K per year and a flat tax on those over.

 

[Natebishop3]

From what I read,probably the best idea is a sales tax on incomes under $30K per year and a flat tax on those over.

The only way I would ever consider a sales tax would be if they got rid of the income tax. Oregon would have to completely rethink its tax system before I would ever support a new tax.

 

[BLAZER PROPHET]

The only way I would ever consider a sales tax would be if they got rid of the income tax. Oregon would have to completely rethink its tax system before I would ever support a new tax.

I agree. You can't have both. One or the other.

 

[Natebishop3]

I agree. You can't have both. One or the other.

But that's not how it works unfortunately. The government doesn't get rid of taxes... and I think good old Kitzhaber will keep pushing a sales tax until he gets enough out-of-staters to pass it.

 

[BLAZER PROPHET]

But that's not how it works unfortunately. The government doesn't get rid of taxes... and I think good old Kitzhaber will keep pushing a sales tax until he gets enough out-of-staters to pass it.

I don't see how. They keep raising property taxes on houses losing value. I mean, I think a slim majority in the People's Republic of Multnomah County would approve of an added sales tax, butt he rest of the state is more reasonable.

 

[MARIS61]

I completely disagree. Like Denny said, someone like me who makes a decent living at over 100k a year can live somewhat comfortably in Houston, but my same salary in San Diego wouldn't buy a house big enough for my family. Might not even rent one big enough

You could not be more wrong.

Cost of living (housing, local taxes, food, utilities...) adjusts itself to area incomes/accumulated wealth.

Things cost more in San Francisco or San Diego or New York because people make insane money there, and uber-wealthy people retire there.

Your job in Beautiful Central Oregon would likely pay about half what you get in Houston, but your quality of life would improve tenfold.

 

[MARIS61]

I don't see how. They keep raising property taxes on houses losing value. I mean, I think a slim majority in the People's Republic of Multnomah County would approve of an added sales tax, but he rest of the state is more reasonable.

Oregon property taxes can only increase 3% yearly and never above the market value UNLESS APPROVED BY 50% of the voters.

If market value drops below amount assessed for taxes, the property is taxed at the lesser value.

Probably the fairest property tax system in the nation, created by initiative.

If your taxes are going up in this market, it's because you or your area voted yes on levies for schools, law enforcement, highway projects...

Until people stop voting yes on tax measures, taxes will continue to rise.

 

[EL PRESIDENTE]

You could not be more wrong.

Cost of living (housing, local taxes, food, utilities...) adjusts itself to area incomes/accumulated wealth.

Things cost more in San Francisco or San Diego or New York because people make insane money there, and uber-wealthy people retire there.

False. The affordability index of places like New York, the Bay Area and Southern California are lowest in the nation.

 

[MARIS61]

False. The affordability index of places like New York, the Bay Area and Southern California are lowest in the nation.

Not sure what you mean by that.

Very affordable? Unaffordable? For whom? Compared to income or compared to accumulated wealth.

The average laborer in NY lives in squalor, despite earning far, far more than the average laborer in Beautiful Central Oregon who lives in Utopia.

 

[EL PRESIDENTE]

Not sure what you mean by that.

Very affordable? Unaffordable? For whom? Compared to income or compared to accumulated wealth.

The average laborer in NY lives in squalor, despite earning far, far more than the average laborer in Beautiful Central Oregon who lives in Utopia.

You're a realtor and you don't know what a housing affordability index is?

http://en.wikipedia.org/wiki/Housing_Affordability_Index