Presidential Politics

[Wizard24]

Originally Posted by bigironcross

Lowering tax rates on the wealthy create jobs.

So, where are all these jobs?

Most have been regulated away. Others have been cut due to the global economic climate. Furthermore, there are many jobs that are available right now, but there are not enough qualified candidates to fill them. For example there are over 1 million engineering job openings right now in this country and only enough qualified individuals to fill about 1/3 of them.

It reminds me of a comment I read recently. “There are plenty of jobs out there today. There just aren’t enough for all the people who [are unqualified].”

[Wizard24]

Originally Posted by bigironcross

Tithe is not a tax. God owns the whole 100%. He just wants us to give 10% (first fruit) for his service and to be a good steward of the other 90%.

I know it is not a tax, that is why I said, ”give 10%” not “pay” 10%. However, that is where the idea comes from. Everyone is responsible for the same amount regardless of how you have been blessed.

Originally Posted by bigironcross

Well, when I'm driving down the road, I sure see a lot of vehicles owned by businesses owned by rich people using them. And, national security is protecting these businesses. And, public education supplies them a educated work force which helps their businesses be successful.

The vast majority of those vehicles are owned by corporations which are owned by any # of shareholders, rich and not rich. Now many of these shareholder may be rich, but the benefit that the corporation gets out of the roads will be taxed at the corporate level at 35% and then again at the personal level when dividends are distributed. You act as if rich people are the only ones who benefit from the businesses they own. Was Steve Jobs the only one who benefitted because Apple killed it over the past decade? Is Bill Gates the only man in this country that has benefitted from the company he founded? Absolutely not!!! The successes of Apple & Microsoft have affected the entire world and certainly boosted this nation’s economy. They provided thousands of jobs to people in this country. Now Jobs, Gates and high stakeholders their companies benefitted the most from the company’s performance, but shouldn’t they? After all did they not also bear most of the risk as well?
Secondly I find it extremely hard to believe that my employer benefits more from my education than I do personally. Without it I would most likely be working some low-paying job while my company would have someone else doing the exact same thing that I do for them now. There would be no difference to them, but I know for a fact that my lifestyle would be drastically different.

Originally Posted by bigironcross

The percentage of people controlling a greater percentage of this country's wealth is getting smaller and smaller.

Again, the Tax Code has almost nothing to do with driving this disparity. Monetary devaluation is a vastly more significant contributing factor. Just look at how much more of your income you have to pay for necessities such as food and utilities than you did just a few years back.

Originally Posted by bigironcross

I guess in your world people cannot use inherited money or resources to generate income?

That is the point I was making. People may inherit wealth, but they still have to go out and do something with it to create income. So yes, these people did EARN their income. And either way it is not the wealth that is taxed at the federal level, but the income. So inheritance is irrelevant to the discussion of tax rates.

Originally Posted by bigironcross

No, a percentage of his $1,000,000 will be taxed at 35%. His initial $44,000 will be taxed at the same percentage as the person making only $44,000.

Yes I know how the tax schedules work. I’m an accountant and was trying not to be too technical, but since you brought it up:
Less than 4.5% of this income will be taxed at or below 15%
More than 62% of this income will be taxed at 35%

[superbilt]

Originally Posted by Wizard24

Most have been regulated away. Others have been cut due to the global economic climate. Furthermore, there are many jobs that are available right now, but there are not enough qualified candidates to fill them. For example there are over 1 million engineering job openings right now in this country and only enough qualified individuals to fill about 1/3 of them.

It reminds me of a comment I read recently. “There are plenty of jobs out there today. There just aren’t enough for all the people who [are unqualified].”

True. Just go on monster.com or any other jobsite and there is no shortage. However, small businesses create more jobs than big business in this country, but many of those jobs are not high paying. High paying usually means high skill.