USA is now an Obama Nation

[harth1026]

I don't know why everyone's moaning about the rich paying more taxes than the poor. If you're earning a lucrative salary, a higher tax bracket really isn't going to hurt.

I'm not looking to whether the system will work. I'm looking whether the system is morally right. It is morally wrong to discrimination against one particular group in this way. Saying they can handle it is not the way you should justify immoral acts. You are still hurting them more simply because they have better jobs than you. If you want to benefit from someone else's suffering, that's your business. But I don't want any part of it.

[cslewislover]

I personally don't care for either of them. Both have good sides and bad sides. It is my personal belief that God decides who He wants in office, and will put him there one way or another. Just one more reason I choose not to vote.

.
.

But God uses His people to get His will done. It's up to us to listen to Him and be discerning, is it not? I don't know the verse, but Paul (I believe) said we need to provide for people's needs, or our faith is kind-of useless (you know, the one where if we see people need something, but we don't give it to them and say "Have a great day" - that's paraphrased, lol). We need to put our faith in action, not just sit around thinking God is going to do some outrageous miracle (though He can). Anyway, the voting thing just seems odd. If none of us voted, what would happen? Why not just bring the Kingship back? Really, why not?

[psr6782]

I read the first post on this and I have to disagree. Now I'm not saying whether I supported Obama or McCain, but I don't think Obama is as bad as some people have made him sound. Give him some time and see what happens, none of us are prophets and therefore none of us can tell what will happen. At this point there is nothing anyone can do about Obama being president, so lets see.

And don't forget to pray for him. Regardless of whether you like him or not, we should all hope he does well and nothing bad happens to him.

[Harry12345]

I don't know why everyone's moaning about the rich paying more taxes than the poor. If you're earning a lucrative salary, a higher tax bracket really isn't going to hurt.

The thing is, it'll hurt a lot of small business owners who are just barely rich enough to be paying these higher taxes. In order to get the money to pay the taxes, they'll have to pay employees less, or lay them off, which means less jobs.

Please elaborate.

If a small business earns over $250,000, which is the new "higher tax" bracket, then he'll pay a higher tax rate... ONLY on the money he earns over $250,000!!! So if he's 'just' earning over $250,000 then his salary will be minimally affected.

[cslewislover]

Wow, Harry, you're really informed for not living in the U.S. Where do you get this stuff, and where do you get the time (lol)?

[zoegirl]

I don't know why everyone's moaning about the rich paying more taxes than the poor. If you're earning a lucrative salary, a higher tax bracket really isn't going to hurt.

The thing is, it'll hurt a lot of small business owners who are just barely rich enough to be paying these higher taxes. In order to get the money to pay the taxes, they'll have to pay employees less, or lay them off, which means less jobs.

Please elaborate.

If a small business earns over $250,000, which is the new "higher tax" bracket, then he'll pay a higher tax rate... ONLY on the money he earns over $250,000!!! So if he's 'just' earning over $250,000 then his salary will be minimally affected.

I wish it worked this way. Correct me if I'm wrong, Swamper, but getting into a higher tax bracket means that you now are qualified to pay a greater proportion to the US, not simply that much over the 250,000.

He will have to pay a higher percentage, which affects his overall ability to distribute what he earns to his employees. So while he theoretically earns more, less of this gets to his employees. Which then means that he must lay some off or pay them less.

[Harry12345]

I don't know why everyone's moaning about the rich paying more taxes than the poor. If you're earning a lucrative salary, a higher tax bracket really isn't going to hurt.

The thing is, it'll hurt a lot of small business owners who are just barely rich enough to be paying these higher taxes. In order to get the money to pay the taxes, they'll have to pay employees less, or lay them off, which means less jobs.

Please elaborate.

If a small business earns over $250,000, which is the new "higher tax" bracket, then he'll pay a higher tax rate... ONLY on the money he earns over $250,000!!! So if he's 'just' earning over $250,000 then his salary will be minimally affected.

I wish it worked this way. Correct me if I'm wrong, Swamper, but getting into a higher tax bracket means that you now are qualified to pay a greater proportion to the US, not simply that much over the 250,000.

He will have to pay a higher percentage, which affects his overall ability to distribute what he earns to his employees. So while he theoretically earns more, less of this gets to his employees. Which then means that he must lay some off or pay them less.

So if someone earns $299,999.99, then 30% of his entire salary gets paid to the government. If someone earns $0.1 more, suddenly 35% of his entire salary gets paid to the government??? That's outragious!

EDIT: According to Wikipedia, you ARE taxed only on the money earned over the tax bracket... so which one is it?

[Harry12345]

Okay a post just went missing...

[cslewislover]

Okay a post just went missing...

I had one here, but then took it off because I think I was wrong. I tried to find out more about all this, but haven't been very successful. If you have any good references, go ahead and post the url, OK?

[Swamper]

I think it works like how zoegirl explained it.

[cslewislover]

I think it works like how zoegirl explained it.

OK, I guess it just doesn't matter that much to me. If I made $500,000 in profits and paid 35%, I'd still have more money in the end than if made $300,000 at 30%, right? I guess I should figure that out. Yeah, $325,000 compared to $210,000. Am I wrong in this? Plus, there're all kinds of tax deductions, write-offs, etc., so it's not that simple anyway, correct? That's pretty important, actually, who gets what types of deductions and write-offs. Whoever is more clever at these things gets to keep more money, too.

[zoegirl]

BUt the main point is that is doesn't just affect the boss. HWat he DOESN"T make, he doesn't pay to those below him. This isn't a matter of him being selfish, it's a matter of him not having enough maoney, especially for smaller business owners.

IN hwat way is this rewarding hard work?

And I'm all for charity....but I'd rather the governbemtn not be my charity, considering that they don't do well with the maney they get.

See this
http://www.politico.com/news/stories/0708/11670.html

[psr6782]

As I understand it Harry is right, it's only taxed for whatever is over the 250K mark.

I do know that tax's won't be higher for anyone than they were in the 90's, which was a pretty good time for the US economically.

But no doubt about it, his tax plan helps the poor and middle class more than the upper class.

[Gman]

But no doubt about it, his tax plan helps the poor and middle class more than the upper class.

What we are doing now doesn't seem to work anyways... Except for those rich folks that want to build up China's communist economy.

[Harry12345]

As I understand it Harry is right, it's only taxed for whatever is over the 250K mark.

I do know that tax's won't be higher for anyone than they were in the 90's, which was a pretty good time for the US economically.

But no doubt about it, his tax plan helps the poor and middle class more than the upper class.

I think the poor need help more than the upper class!!!