This topic contains 28 replies, has 0 voices, and was last updated by  jeneration 6 years, 8 months ago.

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  • #62647

    Deathbal
    Participant

    I’m guessing Italy.

    #62648

    Strelok
    Participant

    Yes Italy,I live in northern Italy so there is less mafia influence.
    Deathbal is right, people complain about not having enough money, but they waste it by buying tons of cigarettes, scratch cards, every crap the TV wants you to buy and, first of all, when holiday comes: presents, super-expensive meals and much more.

    #62649

    Deathbal
    Participant

    @strelok wrote:

    Yes Italy,I live in northern Italy so there is less mafia influence.
    Deathbal is right, people complain about not having enough money, but they waste it by buying tons of cigarettes, scratch cards, every crap the TV wants you to buy and, first of all, when holiday comes: presents, super-expensive meals and much more.

    In most cases this is the reason people that make 200k to 400k a year are not millionaires. In a lot of places in the US. this is just middle class.

    They have more money so they spend it on junk. More expensive cars. A much higher TV bill with all of the goodies. Game systems, bigger cell phone plans etc…….and you are instantly living week to week. It’s hard to believe but it happens.

    But when our government does it to score political points, it is not a good sign.

    #62650

    Chopper
    Participant

    “Politicians will always spend every penny of tax raised, and whatever else they can get away with.” — Milton Friedman

    cheers -off to main

    #62651

    naka
    Participant

    What is strange, we are interesting
    (i thing and the rest of the world too) and know a lot about Amerika, but it is not true about native amerikans. They do Not know anything about the rest of the world.

    In most cases this is the reason people that make 200k to 400k a year are not millionaires. In a lot of places in the US. this is just middle class.

    Interesting.
    I suppose this earning is not by salary, but doing some Business?
    Anyway, Does 400k profit per year seem normal for small Business?
    Or it is just a great inflation?

    #62652

    Irishbandit
    Participant
    #62653

    Deathbal
    Participant

    @naka wrote:

    What is strange, we are interesting
    (i thing and the rest of the world too) and know a lot about Amerika, but it is not true about native amerikans. They do Not know anything about the rest of the world.

    In most cases this is the reason people that make 200k to 400k a year are not millionaires. In a lot of places in the US. this is just middle class.

    Interesting.
    I suppose this earning is not by salary, but doing some Business?
    Anyway, Does 400k profit per year seem normal for small Business?
    Or it is just a great inflation?

    200k can be both, small business or salary. Me and my wife combine for around 140k. We live from week to week with very little extra money. 400k a year just profit is usually a small business. But think of the work they put in to the business. In many cases just the overhead costs 200k. What I mean by that is salaries and any other cost that is required to run the business before profit. So if anything goes wrong………they have to eat that amount.

    So now with 200k overhead you would have to make 600k just to have a 400k profit. Then take 35% of that for federal taxes. That leaves you with 260k profit. Then take state tax like where I live at around 10% and that leaves you at 220k profit. Then add all other taxes and expenses and you get half of your profit when it all ends.

    But we still have those that think the taxes should go up on these people. And the biggest complainers come from people that pay no taxes. That is what amazes me.

    I learned a long time ago to worry about myself. Not worry about people making more money than I. Because even if they get taxed more, I am not going to have any more money in my pocket. So why would I grab my pitchfork and torch and fight to give the government money I will never see?

    #62654

    Chopper
    Participant

    But we still have those that think the taxes should go up on these people. And the biggest complainers come from people that pay no taxes. That is what amazes me.

    Thats the main problem DBall, only 1 in 3 of us are….we need to eliminate the income tax and implement an easy to administer value added tax.

    Of course you would put a huge amount of iRS employees,tax lawyers and other assorted people on the street. But,wtf times change. And it would have the effect of everyone paying something.

    Tax me when i spend it not when I make it……what an idea.

    #62655

    Deathbal
    Participant

    @chopper wrote:

    Of course you would put a huge amount of iRS employees,tax lawyers and other assorted people on the street. But,wtf times change. And it would have the effect of everyone paying something.

    Tax me when i spend it not when I make it……what an idea.

    Great idea, but it’s too late for that. The way our country is spending we may get what you suggest on top of what we already have, not exclusively. I think a 10% VAT has already been considered. So can you imagine what it would have to be if it were stand alone?

    So I don’t see it happening unless our government miraculously stops over spending.

    #62656

    Mr. Subliminal
    Participant

    @chopper wrote:

    Tax me when i spend it not when I make it……what an idea.

    I completely agree with you , but fortunately they do both, they tax what we make and taxes on everything we buy, isn’t that double taxation.

    Also to note that the U.S. government is the only government in the world that uses historical worth, for example if any government entity purchased a piece of property in 1950 for $20,000 that is what the government says that it is worth and they only ever have to pay taxes on that amount. If i had purchased the same property i would have to pay taxes on what ever value it is assessed at, and you know that that would go up over time.

    #62657

    Deathbal
    Participant

    @mr. Subliminal wrote:

    Also to note that the U.S. government is the only government in the world that uses historical worth, for example if any government entity purchased a piece of property in 1950 for $20,000 that is what the government says that it is worth and they only ever have to pay taxes on that amount. If i had purchased the same property i would have to pay taxes on what ever value it is assessed at, and you know that that would go up over time.

    Keep in mind that not all US States have the same laws regarding property taxation.

    #62658

    Mr. Subliminal
    Participant

    True, did not look at it like that.

    #62659

    Deathbal
    Participant

    Oops, I forgot to complete my post.

    Some states do not re-assess property. For example. The law may require you to pay 2% property tax on the sale of the house. So if you bought it for 400k, you would pay 8k a year in taxes for as long as you own the property. The only time it goes up or down is when the house is sold again.

    #62660

    ArmorWraith
    Participant

    Sell the house to your son for a dollar?

    save on property taxes!

    Armor

    #62661

    jeneration
    Participant

    *sigh* Unfortunately it is a reflection simply of the education system in the USA. I wonder if we went to rural China or Brasil, would the people there be able to locate Iraq or Afghanistan on a map? Who knows…my very general estimate is no.
    I guess the main thing is the ongoing trend of slamming Americans and the ignorance of the west. It’s their privelages that allow us to do so, and yes, it’s funny. 🙂

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