Things that annoy me (5 Viewers)

Whether you make a bit over $25/hour or a bit over $250,000/year, you will pay. Not the very rich or poor. Not proportionately. This is a reality with our current system.
Anyway, I hope the Hobby survives!
Best Wishes
Paddy for Pats
Paddy
This is one of those "say it in public enough, people think its true". The "rich" do pay the proportionate and overwhelming share of the American Federal Income Tax Burden. If you look at the taxpayer studies put out by the independent Tax Foundation, people (individuals) in certain income tax brackets (very high) pay over 90% of the total tax liability paid. So they probably arguably pay more than their "fair" share of the American Federal Income Tax Burden.

Where the burden falls disproportionately on the middle class (both upper and lower which is the majority of our Country) is in cost of living. That problem is partially caused by high tax States like New York, California, New Jersey, Illinois all of which have both high sales and property tax burdens and additionally by rising costs of real estate, transportion and also Labor nationwide. Additionally, this trickles down to high rent/occupancy costs for the markets which are selling to consumers, etc. Now, it is not all of these States to blame either as Companies tend to raise costs across the board to smooth out large jumps/costs in particular areas. Long story short, there are a lot of factors well beyond the Federal Income tax rates that dictate. In all reality, the Federal Income Tax rate is probably the least of our concerns and influence.

Not necessarily what is put in the press, and not as simple as some of the tidbits above, but the reality is, the federal income tax system really doesn't cause a lot of everyday angst for most Americans.
 
Excellent points. But why so defensive of the rich? Arguably, they benefit most from our power. Most know how to do so, anyway. If they want the power to wage wars and reap the benefits of tax cuts (as they have proven they do) then they should pay. As to our Great State, rising Labor cost is a good thing. Labor has always been a target of wealthy people who don't want to pay. As for the Tax Foundation, it is business-friendly and therefore biased.
Anyway, good to hear economic news from a true expert.
Paddy
 
Excellent points. But why so defensive of the rich? Arguably, they benefit most from our power. Most know how to do so, anyway. If they want the power to wage wars and reap the benefits of tax cuts (as they have proven they do) then they should pay. As to our Great State, rising Labor cost is a good thing. Labor has always been a target of wealthy people who don't want to pay. As for the Tax Foundation, it is business-friendly and therefore biased.
Anyway, good to hear economic news from a true expert.
Paddy
I give up. Do tell me how waging war has anything to do with the average rich guy who made money trading stocks and working for a living. Labor is not a target but paying a line job the equivalent of 500 plus dollars an hour is insane. That is why true manufacturing is dead in this county. But what do I know I am just a lowly cpa who works for a living. The tax foundation is a recognized politicaly agnostic think tank. They are called names when their study doesn't fit one sides narrative. Sorry but business friendly is not biased. Why do companies and people leave certain states in droves for florida and texas, it is not bias but simple math. It is not political it is mathematics. Once again the rich do pay, that is not defensive in any way, it is math.
 
I give up. Do tell me how waging war has anything to do with the average rich guy who made money trading stocks and working for a living. Labor is not a target but paying a line job the equivalent of 500 plus dollars an hour is insane. That is why true manufacturing is dead in this county. But what do I know I am just a lowly cpa who works for a living. The tax foundation is a recognized politicaly agnostic think tank. They are called names when their study doesn't fit one sides narrative. Sorry but business friendly is not biased. Why do companies and people leave certain states in droves for florida and texas, it is not bias but simple math. It is not political it is mathematics. Once again the rich do pay, that is not defensive in any way, it is math.
Bravo ..... (y)

B.
 
Sorry if I offended. I actually didn't mean to be sarcastic Tom. You are an expert. Let's agree to disagree here.
Best Wishes all the same
Paddy
 
Only in California:


"A jury in California on Friday ordered Starbucks to pay $50 million in damages to a delivery driver who was severely burned by an improperly secured lid on hot beverages.

Michael Garcia was picking up drinks at a drive-through in Los Angeles when he “suffered severe burns, disfigurement, and debilitating nerve damage to his genitals when hot drinks ultimately spilled” onto his lap, according to the lawsuit filed in California Superior Court in 2020. The lawsuit accused Starbucks of breaching its duty of care by failing to secure the lid."
I remember a similar case at McDonald's many yrs ago. BTW, recently had a coffee at McDonald's and it was just lukewarm, maybe due to cases like this one.
 

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