This is how it ends: Bernie proposes $15T tax increase, including increase on middle class

[Cynic]

I think you read something wrong, but only slightly.

The highest capital gains tax would be 62%, and that would only be paid by the top 0.1%.

It's not unprecedented. In the 1960s and 1970s, the top 0.01% p

I think you read something wrong, but only slightly.

The highest capital gains tax would be 62%, and that would only be paid by the top 0.1%.

It's not unprecedented. In the 1960s and 1970s, the top 0.01% paid over 70% in taxes.

This aint the 70s...

I have no interest in adding value to an asset only to have big govt take 70%

Fukk outta here

If that's the case... People will dump money into luxury cars, wines and art...


Which would create a BOOM there....

 

[Medio]

@UltraKombo

What NYC are you living in man?
You making 250k and still feel broke?

 

[No1]

Top 5% here (barely) ....my wife and I bust our azz to get here. We also carry the student loan debt to go along with it. Lets redistribute some of that debt first, before my paycheck gets redistributed. We are taxed enough. We need to hold government more accountable for how they are currently spending.

Do people really believe companies are going to increase wages because they don't have to pay healthcare premiums? Corporations are already getting tax breaks and none of that trickles down to paychecks. Go after them first before you raise taxes on middle class.

All I'm hearing Bernie say is I gotta pay for someone else to get a free ride. We give back in other ways. Leave my paycheck alone.

The whole "free ride" argument is stupid. Like I said before, being a citizen of a nation is a social contract. At one point, we did not have public education and we decided collectively that we wanted to provide that. If the government of the people says that public education should be free then it's not paying for someone else to get a free ride--it's something that we believe should not have a price point at all. It is like how we feel that the freedom speech and religion do not have a price point, etc. There's this whole "well, back in my day," but a lot of bad shyt happened back in your day that we decided against.

Second, for all of you and your wife supposedly busting your asses, that still shows that people who are well off are just as bad as anyone else who does not pay attention to policies. When did Sanders say that companies will raise wages because they don't have to pay healthcare premiums? He never said that. He proposed raising the minimum wage, but he never said anything about healthcare premiums being correlated to that as some big part of his platform.

Third, he and Warren have been fighting to lower loan interest rates. It is something he would make a priority and to allow people to be able to treat student loans like any other type of debt.

Fourth, Sanders is not raising taxes on the middle class. It's always crazy when an account that has not posted since 2012 shows up to peddle this bullshyt. Are you someone's alias? I make 200k including bonus and Sanders policies are not raising my income taxes so I have to call bullshyt on your claim.

@UltraKombo stop fronting about 200k being barely middle class in NYC. 200k is upper middle class for an individual. If you had a family I could understand, but you're single, fukk out of here. All my friends who are lawyers live in apartments where we pay 2000+ a month for rent and have plenty of discretionary income after loans. And we're all young, single and at the bars all the time. We are not struggling. We are not balling, but we're not struggling either.

 

[Reality]

This shyt is DOA. I'll be voting for Hillary unfortunately .

Worst election choices ever.

 

[Trip]

Sounds like a guy who's running for student council lol

 

[Reginald Noble]

@UltraKombo

What NYC are you living in man?
You making 250k and still feel broke?

I make just under $90k, not broke but I'm one paycheck away just like my boss, and probably to a certain degree his boss. Next move I'll probably be looking at $110-125k enough to be somewhat comfortable and actually start investing heavy. My boss lives in NJ to save money and it's a better commute apparently. Hoboken to midtown only like 30 min, Jersey City 45 minutes with lower income tax because they are a Jersey resident.

I don't know what world you living in but rents and general costs are up all across the board. However, we lucked out and have a below market rate apartment with my Woman currently and that has helped a lot of course. Most of my friends I know whether they are on Wall St. with big loans or working customer service shyt jobs with much smaller loans are in the same boat. Everybody doesn't have much cash to spare for frivolous spending like that let alone sometimes even saving. NYC is expensive all around no matter what level you coming in at or what debt you have. The rent is eating a big portion of your paycheck in most cases and you are not getting a whole lot of space for your buck. Not that anywhere else is better financially. The problem is down in ATL what you make up for in cheaper rent you lose in car costs. It ends up being about the same. The common theme here is that wages have remained flat while costs of housing has risen, at least in the Northeast. The solution is higher wages, not subsidized costs.

Anything under 250k per individual in any major metro area - You are one paycheck away from broke in most parts of big cities. A 250k guy has enough money to blow out his loans in 5 years (even if Doc or Lawyer) then immediately start stacking at the age of 30 for retirement and putting money down on real estate condo or co-op. He gets into a good mortgage rate because his income is high and more available liquid cash to put a bigger size down payment. Mortgage rates on average even for NYC are about 25 and sometimes even a whole 50% cheaper than market rate rents.

The reality is no 30 year old is making that much they are making 1/2 that at most. So the problem again as I mentioned above is simply wages are too low across the board especially when you're talking corporate jobs that require sometimes up to 60 hours a week. I've played the game nicely and I've been both smart and lucky to get good jobs, well paid that don't require more than 45-50 hours at most. It involves finding a specialized skill in very high demand but low supply. If you talking working 60 hours a week most people are too burnt out to have the energy to try and find a new or better job. Job-searching while you are employed takes time and energy and the system is designed to burn all that energy out so you don't have the motivation to upgrade when necessary.

Lastly, the problem is definitions are all wrong. Middle class means you can afford to take a year off from work - I don't know anybody who can do that right now negro.

 

[Regular_P]

of course the position is the minority. If you tell me right now, that the rich would have to give 3% of their income back down to the Middle and lower income classes, I'd be like hell yeah. Because it benefits me! You're happy about this because it benefits you! but it's not FAIR to burden others with costs, make college and health care more affordable and lets see what happens with that.

That's the only way to make those things more affordable. Are you not noticing the price of health care and college skyrocketing?

 

[Deutsche Bank]

Believe a President can unilaterally raise taxes, brehs.

Believe corporations won't raise prices in proportion to tax increases, brehs.

Believe corporations won't ship jobs overseas to avoid subsidizing the Free shyt Army, brehs.

Believe the economy operates in a bubble a million miles away from taxes and gubmint programs because you have spent your early adulthood watching crackers sword fight with lasers in space and listening to illiterate negroes threaten to shoot each other in a rhythmic chant, brehs.

 

[Medio]

I make just under $90k, not broke but I'm one paycheck away just like my boss, and probably to a certain degree his boss. Next move I'll probably be looking at $110-125k enough to be somewhat comfortable and actually start investing heavy. My boss lives in NJ to save money and it's a better commute apparently. Hoboken to midtown only like 30 min, Jersey City 45 minutes with lower income tax because they are a Jersey resident.

I don't know what world you living in but rents and general costs are up all across the board. However, we lucked out and have a below market rate apartment with my Woman currently and that has helped a lot of course. Most of my friends I know whether they are on Wall St. with big loans or working customer service shyt jobs with much smaller loans are in the same boat. Everybody doesn't have much cash to spare for frivolous spending like that let alone sometimes even saving. NYC is expensive all around no matter what level you coming in at or what debt you have. The rent is eating a big portion of your paycheck in most cases and you are not getting a whole lot of space for your buck. Not that anywhere else is better financially. The problem is down in ATL what you make up for in cheaper rent you lose in car costs. It ends up being about the same. The common theme here is that wages have remained flat while costs of housing has risen, at least in the Northeast. The solution is higher wages, not subsidized costs.

Anything under 250k per individual in any major metro area - You are one paycheck away from broke in most parts of big cities. A 250k guy has enough money to blow out his loans in 5 years (even if Doc or Lawyer) then immediately start stacking at the age of 30 for retirement and putting money down on real estate condo or co-op. He gets into a good mortgage rate because his income is high and more available liquid cash to put a bigger size down payment. Mortgage rates on average even for NYC are about 25 and sometimes even a whole 50% cheaper than market rate rents.

The reality is no 30 year old is making that much they are making 1/2 that at most. So the problem again as I mentioned above is simply wages are too low across the board especially when you're talking corporate jobs that require sometimes up to 60 hours a week. I've played the game nicely and I've been both smart and lucky to get good jobs, well paid that don't require more than 45-50 hours at most. It involves finding a specialized skill in very high demand but low supply. If you talking working 60 hours a week most people are too burnt out to have the energy to try and find a new or better job. Job-searching while you are employed takes time and energy and the system is designed to burn all that energy out so you don't have the motivation to upgrade when necessary.

Lastly, the problem is definitions are all wrong. Middle class means you can afford to take a year off from work - I don't know anybody who can do that right now negro.

That's an interesting view, I agree with a lot you say, I struggled A LOT until last year where I finally got a great job (i'm 26), a specialized one, but I don't take it for granted

Personally, I think if you make smart choices with your money under 100k you can be safe, regardless of your city.
You're one paycheck away from being broke if you don't have a plan/ safety fund/ back up plan/ other revenue besides your salary.

 

[tmonster]

Breh I saw "15T" and was

why? Meganumerophobia?

 

[ADevilYouKhow]

Taxes

#feelthebern

 

[Here Comes the Pain]

Do you realize america for the most part is the least corrupt(i didnt say NOT, i said LEAST). Thats because we have laws in place.

:bookercomeon:

 

[Professor Emeritus]

I make just under $90k, not broke but I'm one paycheck away just like my boss, and probably to a certain degree his boss. Next move I'll probably be looking at $110-125k enough to be somewhat comfortable and actually start investing heavy. My boss lives in NJ to save money and it's a better commute apparently. Hoboken to midtown only like 30 min, Jersey City 45 minutes with lower income tax because they are a Jersey resident.

I don't know what world you living in but rents and general costs are up all across the board. However, we lucked out and have a below market rate apartment with my Woman currently and that has helped a lot of course. Most of my friends I know whether they are on Wall St. with big loans or working customer service shyt jobs with much smaller loans are in the same boat. Everybody doesn't have much cash to spare for frivolous spending like that let alone sometimes even saving. NYC is expensive all around no matter what level you coming in at or what debt you have. The rent is eating a big portion of your paycheck in most cases and you are not getting a whole lot of space for your buck. Not that anywhere else is better financially. The problem is down in ATL what you make up for in cheaper rent you lose in car costs. It ends up being about the same. The common theme here is that wages have remained flat while costs of housing has risen, at least in the Northeast. The solution is higher wages, not subsidized costs.

Anything under 250k per individual in any major metro area - You are one paycheck away from broke in most parts of big cities. A 250k guy has enough money to blow out his loans in 5 years (even if Doc or Lawyer) then immediately start stacking at the age of 30 for retirement and putting money down on real estate condo or co-op. He gets into a good mortgage rate because his income is high and more available liquid cash to put a bigger size down payment. Mortgage rates on average even for NYC are about 25 and sometimes even a whole 50% cheaper than market rate rents.

The reality is no 30 year old is making that much they are making 1/2 that at most. So the problem again as I mentioned above is simply wages are too low across the board especially when you're talking corporate jobs that require sometimes up to 60 hours a week. I've played the game nicely and I've been both smart and lucky to get good jobs, well paid that don't require more than 45-50 hours at most. It involves finding a specialized skill in very high demand but low supply. If you talking working 60 hours a week most people are too burnt out to have the energy to try and find a new or better job. Job-searching while you are employed takes time and energy and the system is designed to burn all that energy out so you don't have the motivation to upgrade when necessary.

Lastly, the problem is definitions are all wrong. Middle class means you can afford to take a year off from work - I don't know anybody who can do that right now negro.

The problem is that ya'all just bought into the full-on consumer system and it has you hook, line, and sinker.

There people all around you you see every day making twice what you make. And there are people all around you making half what you make. And all ya'all are thinking you're one paycheck from being broke....not smart enough to figure out if you the lowest-paid guy on your street then you're living on the wrong fukking street, and if you ain't the lowest-paid guy on your street, then there's a way to save money that you haven't been bright enough to figure out yet.

Anyone making $90,000/year who isn't using at least half that money to save, give, or pay down loans is doing it wrong. You just don't know how to live without always hoping to one-up the guys making a little bit more than you.

 

[No1]

The problem is that ya'all just bought into the full-on consumer system and it has you hook, line, and sinker.

There people all around you you see every day making twice what you make. And there are people all around you making half what you make. And all ya'all are thinking you're one paycheck from being broke....not smart enough to figure out if you the lowest-paid guy on your street then you're living on the wrong fukking street, and if you ain't the lowest-paid guy on your street, then there's a way to save money that you haven't been bright enough to figure out yet.

Anyone making $90,000/year who isn't using at least half that money to save, give, or pay down loans is doing it wrong. You just don't know how to live without always hoping to one-up the guys making a little bit more than you.

Exactly. Dude said anything less than 250k an individual and you're one paycheck away from being broke.

What the fukk type of budget are you living on?

 

[Reginald Noble]

The problem is that ya'all just bought into the full-on consumer system and it has you hook, line, and sinker.

There people all around you you see every day making twice what you make. And there are people all around you making half what you make. And all ya'all are thinking you're one paycheck from being broke....not smart enough to figure out if you the lowest-paid guy on your street then you're living on the wrong fukking street, and if you ain't the lowest-paid guy on your street, then there's a way to save money that you haven't been bright enough to figure out yet.

Anyone making $90,000/year who isn't using at least half that money to save, give, or pay down loans is doing it wrong. You just don't know how to live without always hoping to one-up the guys making a little bit more than you.

Your snippet conveniently neglects student loans which currently take up about 35% of my post-tax income for the next 10 years (at this current salary level). You are also probably ignoring the fact that I live in NYC area and while my current rent is only 15% of my post-tax, it could just as easily be 25% 2 years from now if market conditions change for this real estate area. Now I'm sure you can imagine how hazardous it can be to remain at the same income level in this market. As long as your skills are warranting your salary and there is healthy demand in your sector there is no problem with ensuring you get more every 1-2 years depending on your industry.

By no means am I complaining - but in effect the minimum level of where I can begin to comfortably invest healthy amounts to a portfolio as well as qualify for real estate would be $110k bare minimum.

Most of the guys from my school are in similar situations. Once my loans are paid off we are playing a whole different ball game - But once that happens I am leaving the country for a lower salary, retaining my American passport and I'll take a 20% pay-cut for a better quality of life abroad. If you are abroad and earn under $100k you pay no American taxes, yet in many countries it commands a higher salary and you will sometimes be able to be paid in USD therefore retaining the ability to invest back at home and in your current country of residence.

I have a plan in place. To live a comfortable life with my Woman abroad I'll need to be at a certain level professionally, part of it is a waiting game to wait for my industry to grow abroad to the point of where demand overseas will be equal to that of USA which would grant me a decent quality of life.