Democrats considering pushing top tax rate over 50%
- Thread starter wrobert
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Another side.
Every situation is different, but I witnessed this as my friend's company utilized me for their employee benefits. I'm just sayin.
Rich greedy business man opens business as sole proprieter. Works for years, slowly adding to business until there are between 50 and 60 employees. During this time, he probably works 60-80 hours per week. Joe six pack supposedly works 40 hours per week, but rich greedy business man allows him time off for family committments. RGBM continually tells me he wants great benefits for his employees as they are like family to him. Never gets to point of cash-cow as he reinvests in his company. I meet with individual employees often, and is is not unusual for them to leave for a few $ more elsewhere. They never seem to appreciate RGBM.
Bank that RGBM has dealt with for years witholds financing that was verbally committed, as new regime takes over the bank. RGBM cannot make payroll, and swiftly goes under. Joe Sixpack and his fellow workers immediately get hired by competitors and others, keeping their homes, 401ks, etc... RGBM, who worked hard for 20 years, taking all of the risks, is bankrupt, and begins life anew with nothing at age 43. His business was his life's work. Has children approaching college, and now years later is still struggling.
RGBM, while the company was solvent always had to worry about all of the mouths to feed. Since his business supplied employees, software and engineering to chemical and other plants, there were lawsuits to defend. His company was always on his mind. Joe sixpack, was appropriately named, because when he punched out, his thoughts of work were over, and he could enjoy his sixpack.
Had things turned out bettter for RGBM, I suppose that it would be fair to demand that he "spread his wealth around", as though he had not already done that.
(Dare I say)
Most folks in this tax bracket are business owners. The tax system is set up so that these folks are able to right off many things that folks who aren't in this bracket (and who are not business owners) are able to...
Joe Sixpack who makes $50k a year working in a trade. He pays for his own cell phone, his internet, his SUV (and mileage), his meals, his airfare and lodging, etc., etc.
Joe might not be in a high tax bracket but the deductions he can't take really add up to be a significant percentage of his income.
I'm just saying-
50% of what you earn isn't really 50%...
Every situation is different, but I witnessed this as my friend's company utilized me for their employee benefits. I'm just sayin.
Rich greedy business man opens business as sole proprieter. Works for years, slowly adding to business until there are between 50 and 60 employees. During this time, he probably works 60-80 hours per week. Joe six pack supposedly works 40 hours per week, but rich greedy business man allows him time off for family committments. RGBM continually tells me he wants great benefits for his employees as they are like family to him. Never gets to point of cash-cow as he reinvests in his company. I meet with individual employees often, and is is not unusual for them to leave for a few $ more elsewhere. They never seem to appreciate RGBM.
Bank that RGBM has dealt with for years witholds financing that was verbally committed, as new regime takes over the bank. RGBM cannot make payroll, and swiftly goes under. Joe Sixpack and his fellow workers immediately get hired by competitors and others, keeping their homes, 401ks, etc... RGBM, who worked hard for 20 years, taking all of the risks, is bankrupt, and begins life anew with nothing at age 43. His business was his life's work. Has children approaching college, and now years later is still struggling.
RGBM, while the company was solvent always had to worry about all of the mouths to feed. Since his business supplied employees, software and engineering to chemical and other plants, there were lawsuits to defend. His company was always on his mind. Joe sixpack, was appropriately named, because when he punched out, his thoughts of work were over, and he could enjoy his sixpack.
Had things turned out bettter for RGBM, I suppose that it would be fair to demand that he "spread his wealth around", as though he had not already done that.
For what it's worth, I don't believe a business owner who "goes for it" is greedy. I don't believe rich = evil. The R and G aren't part of my point...
i've got a neighbor who visited havana recently....said the food was not good and the poverty was rampant....but they had cheap booze and she bought some art....it ain't all bad comrade kitty. mj's doctors need to go to cuba.
I'd go with you Bob, but....
"If you ain't got no money, take your broke a$$ home"
Looks like I'll be staying behind...the government needs our money more than we do.
In a previous life, I worked in state government. The state received a hundred million dollar "gift" to secure an exclusive contract. The state promptly distributed that money to every state employee including me. We all gladly took the money (like most would) but saw it for what it was - blatant vote buying by the party in power. When it comes to government and money, what government "needs" effectively to govern is hardly, if ever, part of the equation.
The R and the G
Glad to hear that. My use of R and G came mostly from the general tone used by the White House these days . They villify business, the engine from which they obtain money.
I forgot to add that a lot of business people often go lengths of time without a paycheck, in addition to the other heartache and peril. (My first year in business, I lived on savings.) I think that we should celebrate their success. I see small businesses open along 30 A, and it is heartbreaking when they fail. Rather than seeing an empty building, I see the end of somebody's dream, and very often whatever capital they had. It also leaves a lot of employees scrambling.
Glad to hear that. My use of R and G came mostly from the general tone used by the White House these days . They villify business, the engine from which they obtain money.
I forgot to add that a lot of business people often go lengths of time without a paycheck, in addition to the other heartache and peril. (My first year in business, I lived on savings.) I think that we should celebrate their success. I see small businesses open along 30 A, and it is heartbreaking when they fail. Rather than seeing an empty building, I see the end of somebody's dream, and very often whatever capital they had. It also leaves a lot of employees scrambling.