What Obama means by tax the wealthy

iVillage Member
Registered: 03-19-2003
What Obama means by tax the wealthy
369
Sat, 06-28-2008 - 11:14am
What Obama means by tax the wealthy
Here's a closer look at how the Democratic candidate defines well-off for different households, and what his proposals will mean for them.

http://money.cnn.com/2008/06/27/news/economy/obama_wealthy_taxes/index.htm?postversion=2008062809


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iVillage Member
Registered: 02-27-2008
Tue, 07-01-2008 - 12:00pm

Common sense -- when people think like I do.


Rose

iVillage Member
Registered: 01-02-2008
Tue, 07-01-2008 - 12:23pm

"Some don't end up paying hardly any taxes at all."

Surely you aren't including payroll taxes then, are you?

rhonda-1.gif picture by fouripleys

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iVillage Member
Registered: 01-02-2008
Tue, 07-01-2008 - 12:26pm

"With every paycheck he has to pay for your medicare, social security, state and federal taxes. Your DH pays some and the employer has to match it. "

Should have read ahead. Interesting that both you and I are coming at this from a doctor/medical office background! My dad owns a billing company and I was the office manager for a Birth Center. The owners of both most surely made enough to classify them as "rich" by Obama's standards...but the amount of taxes (which of COURSE ABSOLUTELY include medicare and social security payments) was staggering!

rhonda-1.gif picture by fouripleys

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iVillage Member
Registered: 01-02-2008
Tue, 07-01-2008 - 12:27pm

"Those taxes are the price they pay for having employees do their work for them."

ROFLOL!! OMG..you mean, that's the price they pay for giving you a JOB!!!

Totally different mindset, I guess....

rhonda-1.gif picture by fouripleys

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iVillage Member
Registered: 01-02-2008
Tue, 07-01-2008 - 12:30pm

" When I did in home daycare I wrote off all sorts of things. Some of my mortage, my phone, my electric, my water, my sewage, and some of my transportation."

Did you employ anyone? Provide someone with a paycheck?

rhonda-1.gif picture by fouripleys

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iVillage Member
Registered: 01-02-2008
Tue, 07-01-2008 - 12:31pm

"Their will probably be NO social security or medicare when we get older. "

I have to agree with you.

rhonda-1.gif picture by fouripleys

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iVillage Member
Registered: 01-02-2008
Tue, 07-01-2008 - 12:45pm

Wow. Well, thank you Rose. That's not sarcasm. Actually, sort of puffs my tail feathers a bit to know that my military husband (when BAH is included anyway) is actually on the "upper bound" !! Strange that we qualify for food assistance, but nonetheless makes me feel much better about our comparative financial state!

I guess 250,000 isn't "middle" class...but then again, I guess even WE'RE a lot richer than I thought we were! I would have never in a million years thought of us on the "upper bound" level of middle class. I completely thought of us as low-middle class, not even median middle class!

rhonda-1.gif picture by fouripleys

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iVillage Member
Registered: 08-30-2004
Tue, 07-01-2008 - 1:10pm

I'm not really talking about the cost of employing workers.

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iVillage Member
Registered: 08-30-2004
Tue, 07-01-2008 - 1:12pm

Their business grows (and therefore creates more profits) by hiring people on.

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iVillage Member
Registered: 01-02-2008
Tue, 07-01-2008 - 1:13pm

"I'm not really talking about the cost of employing workers."

Well, that's convenient...because those ARE taxes after all.

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