Forgive my student loan!

Here's a thought, how about we demand the gov institutes an actual pro-growth jobs agenda and abandon it 'spread the wealth around" ideology instead of asking for our loans to be forgiven? That way, people find work and can afford their loan payments.

Instead of demonizing the rich, the gov should encourage people to become wealthy because they are the one who create the jobs. Or we could just tax the rich into oblivion and kill the incentive to better ones' self.

Oh where to even begin. 1st, the rich won't be taxed into oblivion by having them pay the same rate as the middle class. 2nd, they aren't the ones who create job. They are the ones who send jobs overseas. It's small business owners who create jobs. 3rd, even if they paid higher taxes than the middle class do you honestly think that would kill the incentive to get rich? that's a bit like saying "I don't want to win the lottery because then I'll have to pay taxes on it." You still end up WAY ahead.

1- true, but it is very frustrating to make more but receive less. When my income moved my family into a higher tax bracket it cost me money. The extra income I made that barely raised me to the next level resulted in my net income being lower (man were we looking for deductions) 2- huge generalization depending upon your definition of rich (lets assume you mean millionares, not billionares). the vast majority of "rich" people own small business or invest in smaller companies, 3- this is like someone's grade analogy- you got a 100 on your test but we are going to lower it to a 70 and give your points to the kid that slept in class and only got a 40. Thanks for your hard work and effort!

Here's a thought, how about we demand the gov institutes an actual pro-growth jobs agenda and abandon it 'spread the wealth around" ideology instead of asking for our loans to be forgiven? That way, people find work and can afford their loan payments.

Instead of demonizing the rich, the gov should encourage people to become wealthy because they are the one who create the jobs. Or we could just tax the rich into oblivion and kill the incentive to better ones' self.

Oh where to even begin. 1st, the rich won't be taxed into oblivion by having them pay the same rate as the middle class. 2nd, they aren't the ones who create job. They are the ones who send jobs overseas. It's small business owners who create jobs. 3rd, even if they paid higher taxes than the middle class do you honestly think that would kill the incentive to get rich? that's a bit like saying "I don't want to win the lottery because then I'll have to pay taxes on it." You still end up WAY ahead.

Your comments show your class warfare bias.

I'd assume explaining how the wealthy create jobs through consumption and investment would fall on deaf ears unfortunately.

Consumption doesn't create jobs in the US anymore, its creating jobs in other countries. Production has moved overseas and stores are moving overseas.

Here's a thought, how about we demand the gov institutes an actual pro-growth jobs agenda and abandon it 'spread the wealth around" ideology instead of asking for our loans to be forgiven? That way, people find work and can afford their loan payments.

Instead of demonizing the rich, the gov should encourage people to become wealthy because they are the one who create the jobs. Or we could just tax the rich into oblivion and kill the incentive to better ones' self.

Oh where to even begin. 1st, the rich won't be taxed into oblivion by having them pay the same rate as the middle class. 2nd, they aren't the ones who create job. They are the ones who send jobs overseas. It's small business owners who create jobs. 3rd, even if they paid higher taxes than the middle class do you honestly think that would kill the incentive to get rich? that's a bit like saying "I don't want to win the lottery because then I'll have to pay taxes on it." You still end up WAY ahead.

1- true, but it is very frustrating to make more but receive less. When my income moved my family into a higher tax bracket it cost me money. The extra income I made that barely raised me to the next level resulted in my net income being lower (man were we looking for deductions) 2- huge generalization depending upon your definition of rich (lets assume you mean millionares, not billionares). the vast majority of "rich" people own small business or invest in smaller companies, 3- this is like someone's grade analogy- you got a 100 on your test but we are going to lower it to a 70 and give your points to the kid that slept in class and only got a 40. Thanks for your hard work and effort!

That's not how tax brackets work. There is no way you made more and took home less simply because of your tax rate. Now if you paid off you home so you no longer itemized, didn't contribute to a traditional IRA so didn't have that deduction, had less employee business expenses, no longer paid daycare, etc that MIGHT make a difference. Otherwise no.

Let's say that $50,000 is the income demarkation line for moving from a 10% to a 20% bracket. (just using simple numbers for ease of understanding. Those aren't actual bracket numbers or percentages.) If you make $49,999 you pay $5000 in taxes. If you get a raise to $55,000 you don't pay $11,000 in taxes. You pay that $5000 on the income up to $50,000 then an additional $1000 (20% of $5000) for the raise to total $$6000. You still come out ahead.

Here's a thought, how about we demand the gov institutes an actual pro-growth jobs agenda and abandon it 'spread the wealth around" ideology instead of asking for our loans to be forgiven? That way, people find work and can afford their loan payments.

Instead of demonizing the rich, the gov should encourage people to become wealthy because they are the one who create the jobs. Or we could just tax the rich into oblivion and kill the incentive to better ones' self.

Oh where to even begin. 1st, the rich won't be taxed into oblivion by having them pay the same rate as the middle class. 2nd, they aren't the ones who create job. They are the ones who send jobs overseas. It's small business owners who create jobs. 3rd, even if they paid higher taxes than the middle class do you honestly think that would kill the incentive to get rich? that's a bit like saying "I don't want to win the lottery because then I'll have to pay taxes on it." You still end up WAY ahead.

This whole "they don't pay their fair share" is nonsense. Ever hear of capital gains? There is a difference between income and CG tax rates. The rich pay less taxes on CG because a lower tax rate on investments encourages people to take the risk. More investment helps the economy and creates more revenue for the IRS-thats a fact.

You should also know that when income tax rates are increased, the small business owner is hit also because business income is also counted as personal income in many cases.

If the gov said it was going to take 70% of your wages(as had been the case in the past) would you put in the work necessary to make more money? I have no doubt that tax rates would return to those levels if a certain party was in control. What's the point of working hard when the gov will take most of it and shell it out to deadbeats? But I'll concede your point because purchasing a lottery ticket is just as hard as putting in decades of hard work to achieve a goal.

As for companies moving out, did you ever stop to wonder why they are going overseas? It just might have a lot to do with over regulation/taxation.

Here's a thought, how about we demand the gov institutes an actual pro-growth jobs agenda and abandon it 'spread the wealth around" ideology instead of asking for our loans to be forgiven? That way, people find work and can afford their loan payments.

Instead of demonizing the rich, the gov should encourage people to become wealthy because they are the one who create the jobs. Or we could just tax the rich into oblivion and kill the incentive to better ones' self.

Oh where to even begin. 1st, the rich won't be taxed into oblivion by having them pay the same rate as the middle class. 2nd, they aren't the ones who create job. They are the ones who send jobs overseas. It's small business owners who create jobs. 3rd, even if they paid higher taxes than the middle class do you honestly think that would kill the incentive to get rich? that's a bit like saying "I don't want to win the lottery because then I'll have to pay taxes on it." You still end up WAY ahead.

1- true, but it is very frustrating to make more but receive less. When my income moved my family into a higher tax bracket it cost me money. The extra income I made that barely raised me to the next level resulted in my net income being lower (man were we looking for deductions) 2- huge generalization depending upon your definition of rich (lets assume you mean millionares, not billionares). the vast majority of "rich" people own small business or invest in smaller companies, 3- this is like someone's grade analogy- you got a 100 on your test but we are going to lower it to a 70 and give your points to the kid that slept in class and only got a 40. Thanks for your hard work and effort!

That's not how tax brackets work. There is no way you made more and took home less simply because of your tax rate. Now if you paid off you home so you no longer itemized, didn't contribute to a traditional IRA so didn't have that deduction, had less employee business expenses, no longer paid daycare, etc that MIGHT make a difference. Otherwise no.

Let's say that $50,000 is the income demarkation line for moving from a 10% to a 20% bracket. (just using simple numbers for ease of understanding. Those aren't actual bracket numbers or percentages.) If you make $49,999 you pay $5000 in taxes. If you get a raise to $55,000 you don't pay $11,000 in taxes. You pay that $5000 on the income up to $50,000 then an additional $1000 (20% of $5000) for the raise to total $$6000. You still come out ahead.

Your exemptions and deductions start getting phased out after a certain level of income -- and trust me, it isn't just "rich" people at this level of income. Just like many others have said, 250,000 in a rural, low cost of living area is like a million in an urban, higher cost of living area -- yet they both pay the same in taxes. I paid in 29k in taxes this year and I am not exactly blowing my nose with benjamins.

Here's a thought, how about we demand the gov institutes an actual pro-growth jobs agenda and abandon it 'spread the wealth around" ideology instead of asking for our loans to be forgiven? That way, people find work and can afford their loan payments.

Instead of demonizing the rich, the gov should encourage people to become wealthy because they are the one who create the jobs. Or we could just tax the rich into oblivion and kill the incentive to better ones' self.

Oh where to even begin. 1st, the rich won't be taxed into oblivion by having them pay the same rate as the middle class. 2nd, they aren't the ones who create job. They are the ones who send jobs overseas. It's small business owners who create jobs. 3rd, even if they paid higher taxes than the middle class do you honestly think that would kill the incentive to get rich? that's a bit like saying "I don't want to win the lottery because then I'll have to pay taxes on it." You still end up WAY ahead.

Your comments show your class warfare bias.

I'd assume explaining how the wealthy create jobs through consumption and investment would fall on deaf ears unfortunately.

Consumption doesn't create jobs in the US anymore, its creating jobs in other countries. Production has moved overseas and stores are moving overseas.

Here's a thought, how about we demand the gov institutes an actual pro-growth jobs agenda and abandon it 'spread the wealth around" ideology instead of asking for our loans to be forgiven? That way, people find work and can afford their loan payments.

Instead of demonizing the rich, the gov should encourage people to become wealthy because they are the one who create the jobs. Or we could just tax the rich into oblivion and kill the incentive to better ones' self.

Oh where to even begin. 1st, the rich won't be taxed into oblivion by having them pay the same rate as the middle class. 2nd, they aren't the ones who create job. They are the ones who send jobs overseas. It's small business owners who create jobs. 3rd, even if they paid higher taxes than the middle class do you honestly think that would kill the incentive to get rich? that's a bit like saying "I don't want to win the lottery because then I'll have to pay taxes on it." You still end up WAY ahead.

Your comments show your class warfare bias.

I'd assume explaining how the wealthy create jobs through consumption and investment would fall on deaf ears unfortunately.

Huh? How is it class warfare to want a rich person to pay the SAME as a middle class person but NOT class warfare for a rich person to want the middle class to pay MORE than them? If I say "White people should get to pay 10% lower taxes than black people." I can't imagine anyone saying that's not racist. But if I say "White people should pay the same tax rate as black people." how is that racist? It's the exact same concept. Just replace white with rich and black with middle class.

Here's a thought, how about we demand the gov institutes an actual pro-growth jobs agenda and abandon it 'spread the wealth around" ideology instead of asking for our loans to be forgiven? That way, people find work and can afford their loan payments.

Instead of demonizing the rich, the gov should encourage people to become wealthy because they are the one who create the jobs. Or we could just tax the rich into oblivion and kill the incentive to better ones' self.

Oh where to even begin. 1st, the rich won't be taxed into oblivion by having them pay the same rate as the middle class. 2nd, they aren't the ones who create job. They are the ones who send jobs overseas. It's small business owners who create jobs. 3rd, even if they paid higher taxes than the middle class do you honestly think that would kill the incentive to get rich? that's a bit like saying "I don't want to win the lottery because then I'll have to pay taxes on it." You still end up WAY ahead.

This whole "they don't pay their fair share" is nonsense. Ever hear of capital gains? There is a difference between income and CG tax rates. The rich pay less taxes on CG because a lower tax rate on investments encourages people to take the risk. More investment helps the economy and creates more revenue for the IRS-thats a fact.

You should also know that when income tax rates are increased, the small business owner is hit also because business income is also counted as personal income in many cases.

If the gov said it was going to take 70% of your wages(as had been the case in the past) would you put in the work necessary to make more money? I have no doubt that tax rates would return to those levels if a certain party was in control. What's the point of working hard when the gov will take most of it and shell it out to deadbeats? But I'll concede your point because purchasing a lottery ticket is just as hard as putting in decades of hard work to achieve a goal.

As for companies moving out, did you ever stop to wonder why they are going overseas? It just might have a lot to do with over regulation/taxation.

70% is ridiculous. I'll absolutely agree there. But what's so wrong about expecting Mitt Romney to be in the same tax bracket as you and me?

FTR, I have heard of capital gains as I have worked in finance for 20 years and own a tax prep/financial advising business. I am more than well aware of what small businesses pay in taxes as well as the deductions they can claim.

Here's a thought, how about we demand the gov institutes an actual pro-growth jobs agenda and abandon it 'spread the wealth around" ideology instead of asking for our loans to be forgiven? That way, people find work and can afford their loan payments.

Instead of demonizing the rich, the gov should encourage people to become wealthy because they are the one who create the jobs. Or we could just tax the rich into oblivion and kill the incentive to better ones' self.

Oh where to even begin. 1st, the rich won't be taxed into oblivion by having them pay the same rate as the middle class. 2nd, they aren't the ones who create job. They are the ones who send jobs overseas. It's small business owners who create jobs. 3rd, even if they paid higher taxes than the middle class do you honestly think that would kill the incentive to get rich? that's a bit like saying "I don't want to win the lottery because then I'll have to pay taxes on it." You still end up WAY ahead.

Your comments show your class warfare bias.

I'd assume explaining how the wealthy create jobs through consumption and investment would fall on deaf ears unfortunately.

Huh? How is it class warfare to want a rich person to pay the SAME as a middle class person but NOT class warfare for a rich person to want the middle class to pay MORE than them? If I say "White people should get to pay 10% lower taxes than black people." I can't imagine anyone saying that's not racist. But if I say "White people should pay the same tax rate as black people." how is that racist? It's the exact same concept. Just replace white with rich and black with middle class.

It's class warfare to making sweeping claims that the "rich" not only don't create jobs, but ship them overseas while small businesses create all the jobs. That's a patently false claim that shows a bias, jealousy, class warfare sentiment, call it whatever you want.

I agree with you that everyone should pay their fair share, but there is no universal truth to what everyone's fair share is.

7% is a big difference, so I do believe that it would affect investments. You're looking at it as though these guys lose money and say "no big deal." I don't know of anyone who has money who wouldn't look at risk vs reward when they're making financial decisions. They play the markets for money, not fun. Beside
Besides, it's an historical fact that more money comes into the treasury when cap gains are low, raising them would do more harm than good.

Also, there are other places they can invest as well, the US market isn't the only place they have to go.