No, please go on. I’d really like to hear about your groundbreaking opinion on Warren Buffet. I’m sure it’s so elaborate and astute that we will all gain a valuable perspective beyond our feeble comprehension.
Ok, listen chief. Warren Buffett is the one of the sole reasons why this tax is even happening in the first place. He is an anomaly in the world of the wealthy, a self made billionaire who would rather give his money to people like you than keep it for himself. Therefore, it is not a TFM at all, in no way are taxes frat. If your parents had to give up 35% + of their income, you wouldn’t be posting this on TFM. You’d be donating money to Rick Perry so he can beat our Liberal in Chief.
^Before you light into that solid Alpha Sig Warren Buffett, I’d say there is something pretty frat about being cool with paying for the nice stuff you have. We have roads to drive on and the most badass military in the world protecting our freedom, and expecting to get that for nothing is being an entitled little bitch. My parents pay 35%+ of their income, and are still rich, because my dad’s TFTC about taxes, and he’s patriotic enough to not have a problem with writing his country a dues check.
^^I don’t mind paying a reasonable amount of taxes for things like roads and defense, but 35% income plus capital gains plus property tax plus state income tax (where applicable) plus FICA plus taxes on dividends plus several taxes I probably left out, combined with less and less deductions every year is completely unreasonable. If government didn’t spend so much on bullshit (trillions of dollars on stimulus–where the fuck did that money go? I haven’t seen any benefits) as well as bailing out banks on mortgage fuck ups (they are paying the other portion of mortgages that are partially paid after foreclosure sales) and other unproductive bullshit, we wouldn’t need to be paying so much in taxes. I don’t give a flying fuck if your dad has so much money he doesn’t care about giving 35%+ (probably closer to 50% when all taxes are accounted for) of his income to the state and federal governments, but if one cent of my family’s money is being spent on political bullshit, that pisses me the fuck off. If we trimmed all the REAL fat, not the “fat” that politicians say there is very little of, we could get by with a 15% flat tax on everyone making over $30,000 per year. I fucking bet you we could. Just because you have more money than God doesn’t mean that 35%+ in taxes is okay–that’s money that can be put back into the economy rather than being put towards turtle tunnels, bridges to nowhere, Paki-fucking-stan, and citizens of China. If we kept more of our money, our economy could grow, creating more productivity and taxpayers, so the government will get all the revenue they need. In short, with all due respect, fuck you and your dad.
If you’re a patriotic American, you should have no problem paying taxes. Fair, proportional etc. is definitely worthy of debate. That’s fine. They do pay for things we use every day in one form or another, so they are pretty damn useful.
By the way, the proposed tax brackets for 2011 include a 39.5% income tax on earners over $379,000/year. After all taxes have been paid, you’re looking at over half your money going to the government, with less than half of that tax money going to something useful. Fuck.
fraterati that’s why I spread out my liquid assets among credit unions, my USAA account, my brokerage account, etc. like any other intelligent person. I also hold money in hard assets like real estate so I don’t have to pay for FDIC insurance. Big banks don’t run themselves correctly because they know they’ll be bailed out–if you don’t fear or at least acknowledge the consequences of failure you are doomed to fail. That’s the free market. We should never have had to bail them out, and in order to protect yourself, no matter how much money you make, you should spread around your money. Putting all your eggs in one basket is a recipe for disaster.
MWard you are a fucking socialist and can leave this site immediately. Taxes have nothing to do with patriotism. There is nothing patriotic about paying for some dumb fuck’s corporate loophole for whoever bundles donations for his campaign, nor is it patriotic to shell over thousands of dollars to prop up government funded innovation in healthcare, the likes of which nobody can afford. Fuck taxes, they’re flat out un-American, and anyone who fights them understands what made this country great.
^We’re going to get there anyways if we keep printing money to prop up inefficient and fiscally irresponsible banks. How many more hundred billion or trillion dollar bailouts can we afford? You have to draw the line somewhere. The big banks have not changed how they operate, and they continue to be bailed out, especially ones who have huge outstanding loans (which, I admit, is the fault of government mandates during the Clinton administration, not the banks). Look at Bank of America. It’s a fucking mess. Maybe there’s a way we can safely transition out of the current system, but we can’t afford to keep bailing them out. When quantitative easing to maintain bailouts and stimuli causes severe inflation, another depression is inevitable anyways. We might as well be proactive about this problem.
^BROwn, you’re going to have to blame Bush for the housing shit. He expanded the mandates on Fannie and Freddie–it’s undeniable. The boom didn’t start until feds reacted to the 2001 recession. Started busting in 2007.
^^ Ivy, you’re as retarded as Rainman. Just shut the fuck up. Did I say I liked paying high taxes? No. I think it’s bullshit. But I understand that my taxes go towards things like education (abysmal, that needs to be fixed IMO), road improvement, police departments, fire departments, etc. That shit’s pretty fucking important don’t you think? Using your logic, we get rid of taxes.. How do those services get affected? Get back to me when you have a great solution for that scenario.
Did I say ANYWHERE in there about I think my taxes are awesome and I’m so glad we have Obamacare? Or that I’m thrilled that these big banks took our tax dollars to prop themselves up and save them from their questionable lending practices back from 2003-2006? You have no idea how idiotic these banks still are to this day when it comes to this mortgage mess.
Well Brofessor, to be perfectly honest, those of us who own our homes, cars, and businesses will survive a depression. The big banks deserve to fail because it is them and all the credit lenders who have truly fucked up this country. The old AMERICAN way of never spending beyond one’s means is a thing of the past; Now everybody has to have a million dollar home, a range rover, and a summer house, all on a 50,000 dollar a year salary. Sure i’m willing to bite the bullet on higher taxes but not if its going to bailing out a company that is only going to default again. It is big business that destroys the American dream and coerces the average citizen into a life riddled with debt. A depression is the only way this country will learn, otherwise we will be continuing to put bandaids on a bullet wound.
If we spent our tax dollars on infrastructure and spent it meaningfully on education, I’d be paying 10%. That’s probably 25% of the budget, max. I will avoid taxes like its my job, because I’m not interested in investing in the Iraqi people, or propping up healthcare that average Americans couldn’t afford otherwise.
I would be perfectly fine phasing out infrastructure to private companies. That way, if I use the road, I can pay for something I actually want. Why should I give them money while I wait for them to figure out whether or not they have a right to take it from me?
Secondly, if WB wants to pay more taxes, let him. I know its a tired argument, but he only has jurisdiction over his own money, nobody else’s.
IvyFrat, in 1995 it was mandated in DC that a significant number of new mortgages would go to people who wouldn’t normally qualify for one. That started the mess, Bush just expanded it.
You could blame it on Bush, you could blame it on that fatass Barney Frank, you could blame it on Greenspan and Bernanke, etc. It doesn’t just fall on one person sadly, it was a whole number of errors. Interest rates were stupid low in the interest only/sub-prime/LIBOR/adjustable rate mortgages, and they got pushed because they had huge returns for lenders. Why get a 30yr fixed mortgage for 6% when you could get an I/O mortgage at 3.75? You could buy a significantly more expensive house. Between that and people shifting their investment from Wall St. to Real Estate, you had people just buying places like crazy. Demand goes up, price goes up, and now values go up because your next door neighbor just sold for 15k higher than the last guy. It was a shitshow until the market just couldn’t support it.
What’s shitty is banks were approving these awful mortgages knowing fully well that there was no way someone making 30k a year could afford a 150k house when the rates adjusted.
^Yes, the banks are shitty for approving those ridiculous mortgages, but remember, they were forced to do so by the government because, “Everyone deserves a home.” Fucking bureaucrats fuckwads.
MWard, don’t blame the banks, really. The coverage mandate given to F&F meant the markets never adjusted to the influx of sub-primes, because there was a government funded buyer who never had to look at risk. Somebody’s going to buy it, why wouldn’t you sell it?
Of course, then the dumbasses turned around and used the securities as assets to leverage toward lending (often on more mortgages), but I think moral hazard explains that behavior pretty nicely.
^ Agreed. I was looking for who said that quote but it seems like all the culprits said it during the housing boom. We’ll get out of this mess in time, but the precedent of the government bailing you out when you take a big risk and fuck up has already been set. Not a fan of that in the least bit.
^^ Ivy, I completely agree. I don’t blame a bank for trying to make money in the least. If you’ve got a product you can sell, sell the hell out of it. I blame them however just for what you said. Nothing but greed there.
I didn’t even read half of this shit, but to the loser who said “35% plus capital gains,” you suck. If you pay more than capital gains at 15%, you’re doing it wrong.
Having your head stuck so far up your ass that you think there’s a real, valid reason why you should pay less taxes than 95% of the rest of America, the country you say you love. NF
What? Surely you’re not trying to use the argument that the wealthy pay less in taxes than the rest of America. You obviously are NOT overlooking those little words on the chart that say “Percentage of Income paid in taxes”, because that’s the only way that “wealthy” and “pay less” belong in the same sentence. And you know that the top 10% of households for income are paying over half of federal taxes.
Total Liberal Move..
14 years ago at 12:15 pm^This.
14 years ago at 12:16 pm^^Fucking this. Fuck Warren Buffet.
14 years ago at 12:45 pmIf this a TFM….then cargo shorts are TFM.
14 years ago at 3:15 pmWarren Buffett and Liberals NF Rick Perry and Chris Cristie TFM
14 years ago at 12:13 amDont even get me started on Warren Buffett…
14 years ago at 12:16 pmNo, please go on. I’d really like to hear about your groundbreaking opinion on Warren Buffet. I’m sure it’s so elaborate and astute that we will all gain a valuable perspective beyond our feeble comprehension.
14 years ago at 5:16 pm^ this guy
14 years ago at 7:23 pmOk, listen chief. Warren Buffett is the one of the sole reasons why this tax is even happening in the first place. He is an anomaly in the world of the wealthy, a self made billionaire who would rather give his money to people like you than keep it for himself. Therefore, it is not a TFM at all, in no way are taxes frat. If your parents had to give up 35% + of their income, you wouldn’t be posting this on TFM. You’d be donating money to Rick Perry so he can beat our Liberal in Chief.
So, take a lap. Faf Blue n Gold.
14 years ago at 12:18 pmawww that is cute that you have no clue how taxes work
14 years ago at 12:27 pm^Before you light into that solid Alpha Sig Warren Buffett, I’d say there is something pretty frat about being cool with paying for the nice stuff you have. We have roads to drive on and the most badass military in the world protecting our freedom, and expecting to get that for nothing is being an entitled little bitch. My parents pay 35%+ of their income, and are still rich, because my dad’s TFTC about taxes, and he’s patriotic enough to not have a problem with writing his country a dues check.
14 years ago at 12:33 pmSorry fratmobile, that wasn’t directed at you. You posted before I finished.
14 years ago at 12:34 pm^^I don’t mind paying a reasonable amount of taxes for things like roads and defense, but 35% income plus capital gains plus property tax plus state income tax (where applicable) plus FICA plus taxes on dividends plus several taxes I probably left out, combined with less and less deductions every year is completely unreasonable. If government didn’t spend so much on bullshit (trillions of dollars on stimulus–where the fuck did that money go? I haven’t seen any benefits) as well as bailing out banks on mortgage fuck ups (they are paying the other portion of mortgages that are partially paid after foreclosure sales) and other unproductive bullshit, we wouldn’t need to be paying so much in taxes. I don’t give a flying fuck if your dad has so much money he doesn’t care about giving 35%+ (probably closer to 50% when all taxes are accounted for) of his income to the state and federal governments, but if one cent of my family’s money is being spent on political bullshit, that pisses me the fuck off. If we trimmed all the REAL fat, not the “fat” that politicians say there is very little of, we could get by with a 15% flat tax on everyone making over $30,000 per year. I fucking bet you we could. Just because you have more money than God doesn’t mean that 35%+ in taxes is okay–that’s money that can be put back into the economy rather than being put towards turtle tunnels, bridges to nowhere, Paki-fucking-stan, and citizens of China. If we kept more of our money, our economy could grow, creating more productivity and taxpayers, so the government will get all the revenue they need. In short, with all due respect, fuck you and your dad.
14 years ago at 1:05 pmNow BROwn, imma let you finish, but StuffFratPeopleLike had one of the greatest incoherent rants of all time.
14 years ago at 1:08 pmIf you’re a patriotic American, you should have no problem paying taxes. Fair, proportional etc. is definitely worthy of debate. That’s fine. They do pay for things we use every day in one form or another, so they are pretty damn useful.
14 years ago at 1:09 pmBy the way, the proposed tax brackets for 2011 include a 39.5% income tax on earners over $379,000/year. After all taxes have been paid, you’re looking at over half your money going to the government, with less than half of that tax money going to something useful. Fuck.
14 years ago at 1:15 pm“If government didn’t spend so much on bullshit (trillions of dollars on stimulus–where the fuck did that money go? I haven’t seen any benefits”
It went to propping up banks that would have collapsed. As in, all the money you have in your account would have been down the tubes.
14 years ago at 1:15 pmWell said BROwn. Well fucking said.
14 years ago at 1:18 pmBROwn, mid-afternoon may be a little early for coke induced rants, but fuck it, I agree 100%.
14 years ago at 1:28 pmfraterati that’s why I spread out my liquid assets among credit unions, my USAA account, my brokerage account, etc. like any other intelligent person. I also hold money in hard assets like real estate so I don’t have to pay for FDIC insurance. Big banks don’t run themselves correctly because they know they’ll be bailed out–if you don’t fear or at least acknowledge the consequences of failure you are doomed to fail. That’s the free market. We should never have had to bail them out, and in order to protect yourself, no matter how much money you make, you should spread around your money. Putting all your eggs in one basket is a recipe for disaster.
14 years ago at 1:40 pmUSAA
14 years ago at 12:21 pmMWard you are a fucking socialist and can leave this site immediately. Taxes have nothing to do with patriotism. There is nothing patriotic about paying for some dumb fuck’s corporate loophole for whoever bundles donations for his campaign, nor is it patriotic to shell over thousands of dollars to prop up government funded innovation in healthcare, the likes of which nobody can afford. Fuck taxes, they’re flat out un-American, and anyone who fights them understands what made this country great.
14 years ago at 1:41 pm^ So we should let ourselves sink into another great depression to give banks a financial responsibility lesson?
14 years ago at 1:42 pm^We’re going to get there anyways if we keep printing money to prop up inefficient and fiscally irresponsible banks. How many more hundred billion or trillion dollar bailouts can we afford? You have to draw the line somewhere. The big banks have not changed how they operate, and they continue to be bailed out, especially ones who have huge outstanding loans (which, I admit, is the fault of government mandates during the Clinton administration, not the banks). Look at Bank of America. It’s a fucking mess. Maybe there’s a way we can safely transition out of the current system, but we can’t afford to keep bailing them out. When quantitative easing to maintain bailouts and stimuli causes severe inflation, another depression is inevitable anyways. We might as well be proactive about this problem.
14 years ago at 1:54 pm^BROwn, you’re going to have to blame Bush for the housing shit. He expanded the mandates on Fannie and Freddie–it’s undeniable. The boom didn’t start until feds reacted to the 2001 recession. Started busting in 2007.
14 years ago at 2:00 pm^^ Ivy, you’re as retarded as Rainman. Just shut the fuck up. Did I say I liked paying high taxes? No. I think it’s bullshit. But I understand that my taxes go towards things like education (abysmal, that needs to be fixed IMO), road improvement, police departments, fire departments, etc. That shit’s pretty fucking important don’t you think? Using your logic, we get rid of taxes.. How do those services get affected? Get back to me when you have a great solution for that scenario.
Did I say ANYWHERE in there about I think my taxes are awesome and I’m so glad we have Obamacare? Or that I’m thrilled that these big banks took our tax dollars to prop themselves up and save them from their questionable lending practices back from 2003-2006? You have no idea how idiotic these banks still are to this day when it comes to this mortgage mess.
14 years ago at 2:04 pmWell Brofessor, to be perfectly honest, those of us who own our homes, cars, and businesses will survive a depression. The big banks deserve to fail because it is them and all the credit lenders who have truly fucked up this country. The old AMERICAN way of never spending beyond one’s means is a thing of the past; Now everybody has to have a million dollar home, a range rover, and a summer house, all on a 50,000 dollar a year salary. Sure i’m willing to bite the bullet on higher taxes but not if its going to bailing out a company that is only going to default again. It is big business that destroys the American dream and coerces the average citizen into a life riddled with debt. A depression is the only way this country will learn, otherwise we will be continuing to put bandaids on a bullet wound.
14 years ago at 2:12 pmIf we spent our tax dollars on infrastructure and spent it meaningfully on education, I’d be paying 10%. That’s probably 25% of the budget, max. I will avoid taxes like its my job, because I’m not interested in investing in the Iraqi people, or propping up healthcare that average Americans couldn’t afford otherwise.
I would be perfectly fine phasing out infrastructure to private companies. That way, if I use the road, I can pay for something I actually want. Why should I give them money while I wait for them to figure out whether or not they have a right to take it from me?
Secondly, if WB wants to pay more taxes, let him. I know its a tired argument, but he only has jurisdiction over his own money, nobody else’s.
14 years ago at 2:12 pmIvyFrat, in 1995 it was mandated in DC that a significant number of new mortgages would go to people who wouldn’t normally qualify for one. That started the mess, Bush just expanded it.
14 years ago at 2:12 pmBROwn. Clinton started a mildly bad policy, Bush wrecked the economy with it. Bush is no friend of small government. Let my punishment begin.
14 years ago at 2:19 pm^I agree about Bush, Ivy, I’m just saying that it started with Clinton.
14 years ago at 2:32 pmYou could blame it on Bush, you could blame it on that fatass Barney Frank, you could blame it on Greenspan and Bernanke, etc. It doesn’t just fall on one person sadly, it was a whole number of errors. Interest rates were stupid low in the interest only/sub-prime/LIBOR/adjustable rate mortgages, and they got pushed because they had huge returns for lenders. Why get a 30yr fixed mortgage for 6% when you could get an I/O mortgage at 3.75? You could buy a significantly more expensive house. Between that and people shifting their investment from Wall St. to Real Estate, you had people just buying places like crazy. Demand goes up, price goes up, and now values go up because your next door neighbor just sold for 15k higher than the last guy. It was a shitshow until the market just couldn’t support it.
What’s shitty is banks were approving these awful mortgages knowing fully well that there was no way someone making 30k a year could afford a 150k house when the rates adjusted.
14 years ago at 2:36 pm^Yes, the banks are shitty for approving those ridiculous mortgages, but remember, they were forced to do so by the government because, “Everyone deserves a home.” Fucking bureaucrats fuckwads.
14 years ago at 2:43 pmMWard, don’t blame the banks, really. The coverage mandate given to F&F meant the markets never adjusted to the influx of sub-primes, because there was a government funded buyer who never had to look at risk. Somebody’s going to buy it, why wouldn’t you sell it?
Of course, then the dumbasses turned around and used the securities as assets to leverage toward lending (often on more mortgages), but I think moral hazard explains that behavior pretty nicely.
14 years ago at 3:01 pm^ Agreed. I was looking for who said that quote but it seems like all the culprits said it during the housing boom. We’ll get out of this mess in time, but the precedent of the government bailing you out when you take a big risk and fuck up has already been set. Not a fan of that in the least bit.
14 years ago at 3:04 pm^^ Ivy, I completely agree. I don’t blame a bank for trying to make money in the least. If you’ve got a product you can sell, sell the hell out of it. I blame them however just for what you said. Nothing but greed there.
14 years ago at 3:08 pmLet’s not forget about Clinton, and the repeal of Glass-Steagall.
14 years ago at 4:12 pmLOUD NOISES!
14 years ago at 4:25 pmI didn’t even read half of this shit, but to the loser who said “35% plus capital gains,” you suck. If you pay more than capital gains at 15%, you’re doing it wrong.
14 years ago at 7:36 pm^Completely missing the point. TFTC?
14 years ago at 9:44 pmWarren Buffett is a total scumbag with a great PR team.
14 years ago at 12:20 pmIn this thread, jealousy
14 years ago at 12:25 pmBeing used by Democrats. NF.
14 years ago at 12:35 pmHaving your head stuck so far up your ass that you think there’s a real, valid reason why you should pay less taxes than 95% of the rest of America, the country you say you love. NF
14 years ago at 12:42 pmWhat? Surely you’re not trying to use the argument that the wealthy pay less in taxes than the rest of America. You obviously are NOT overlooking those little words on the chart that say “Percentage of Income paid in taxes”, because that’s the only way that “wealthy” and “pay less” belong in the same sentence. And you know that the top 10% of households for income are paying over half of federal taxes.
Just making sure we’re on the same page.
14 years ago at 10:28 pmIf I have to hear that his secretary pays a higher tax rate than he does, I may punch a nun.
14 years ago at 12:45 pmBecause it is true.
14 years ago at 7:31 amNF
14 years ago at 1:04 pmWasting money. TFM.
14 years ago at 1:11 pmLetting the government waste your money. NF.
14 years ago at 1:37 pm