Page 14 of 20 FirstFirst ... 4 10 11 12 13 14 15 16 17 18 ... LastLast
Results 326 to 350 of 484
  1. #326
    mtbr member
    Reputation:
    Join Date
    Jan 2012
    Posts
    3,133
    Quote Originally Posted by Mountain Cycle Shawn View Post
    And, the problem with that is?
    Nothing at all, as long as it doesn't destroy the environment and subjugate other people. Hey, everyone's gotta have a god. If money makes them feel good, why not?

  2. #327
    mtbr member
    Reputation: Salespunk's Avatar
    Join Date
    Sep 2005
    Posts
    2,656
    Quote Originally Posted by 50calray View Post
    "Millionaire Next Door" would be a better book.

    The average millionaire doesn't get wrapped up in exotic cars and Yachts. I'm good friends with several Millionaires and most drive Chevy and Fords. A few drive older lower level high end cars like a C Class Mercedes and only one has anything higher class but they needed something to replace their 25yr old vehicle.
    Significant difference between saving a $1-2M and earning a high income that leads to 10's of millions in the bank. Millionaire next door is a great roadmap for anyone to save their way to being a millionaire. That does not buy you a 7 series BMW and a 5000 sqft house.

    Compare that to someone making $500K/yr. They are taking home $300K and can afford the nice car and a decent but not extravagant house. Maybe an exotic car after 10-15 years of earning that income and being smart about investments. If you are getting into exotics that is the range of people making $1M+ and yachts (not a 30' sailboat) probably closer to $5M per year.

    What people don't realize is the real tax burden of people in that $250K+ income range. While it sounds like a lot of money the real buying power is relatively limited. Remember that the top 1% pay over 40% of all federal income taxes and only earn 18% of the income. The bottom 48% pay zero in federal income tax and receive the benefit of that disproportional payment structure.

  3. #328
    mtbr member
    Reputation: Mountain Cycle Shawn's Avatar
    Join Date
    Jan 2004
    Posts
    8,793
    Quote Originally Posted by SS Hack View Post
    Nothing at all, as long as it doesn't destroy the environment and subjugate other people. Hey, everyone's gotta have a god. If money makes them feel good, why not?
    I agree, although any economic class can destroy the environment and subjugate others. As long as people are law abiding, I don't care how much money they have or how they got it.
    '96 San Andreas
    '12 Santa Cruz Nickel LT
    '08 KTM 530
    '12 Toyota FJ TT
    '05 MiniCooper S
    '95 Honda HB Si
    '71 Dino 246 GT

  4. #329
    mtbr member
    Reputation: Mountain Cycle Shawn's Avatar
    Join Date
    Jan 2004
    Posts
    8,793
    Quote Originally Posted by Salespunk View Post
    Significant difference between saving a $1-2M and earning a high income that leads to 10's of millions in the bank. Millionaire next door is a great roadmap for anyone to save their way to being a millionaire. That does not buy you a 7 series BMW and a 5000 sqft house.

    Compare that to someone making $500K/yr. They are taking home $300K and can afford the nice car and a decent but not extravagant house. Maybe an exotic car after 10-15 years of earning that income and being smart about investments. If you are getting into exotics that is the range of people making $1M+ and yachts (not a 30' sailboat) probably closer to $5M per year.

    What people don't realize is the real tax burden of people in that $250K+ income range. While it sounds like a lot of money the real buying power is relatively limited. Remember that the top 1% pay over 40% of all federal income taxes and only earn 18% of the income. The bottom 48% pay zero in federal income tax and receive the benefit of that disproportional payment structure.
    Being a millionaire isn't what it used to be, unfortunately.
    '96 San Andreas
    '12 Santa Cruz Nickel LT
    '08 KTM 530
    '12 Toyota FJ TT
    '05 MiniCooper S
    '95 Honda HB Si
    '71 Dino 246 GT

  5. #330
    mtbr member
    Reputation:
    Join Date
    Jan 2012
    Posts
    3,133
    Quote Originally Posted by Mountain Cycle Shawn View Post
    I agree, although any economic class can destroy the environment and subjugate others. As long as people are law abiding, I don't care how much money they have or how they got it.
    In our system, the rich are much better at wrecking the environment and exploiting people. Poor folks do get to live in the polluted aftermath however ...

  6. #331
    mtbr member
    Reputation:
    Join Date
    Jan 2012
    Posts
    3,133
    Quote Originally Posted by Salespunk View Post
    Significant difference between saving a $1-2M and earning a high income that leads to 10's of millions in the bank. Millionaire next door is a great roadmap for anyone to save their way to being a millionaire. That does not buy you a 7 series BMW and a 5000 sqft house.

    Compare that to someone making $500K/yr. They are taking home $300K and can afford the nice car and a decent but not extravagant house. Maybe an exotic car after 10-15 years of earning that income and being smart about investments. If you are getting into exotics that is the range of people making $1M+ and yachts (not a 30' sailboat) probably closer to $5M per year.

    What people don't realize is the real tax burden of people in that $250K+ income range. While it sounds like a lot of money the real buying power is relatively limited. Remember that the top 1% pay over 40% of all federal income taxes and only earn 18% of the income. The bottom 48% pay zero in federal income tax and receive the benefit of that disproportional payment structure.
    I can tell you know the sting of living in a high cost state. The problem is 250k isn't all that much in SoCal or the Bay Area; but in America's heartland, it is rich. I think we need tax codes tied to cost of living ... it's hard to get ahead when a 2 bedroom home costs 600k.

  7. #332
    mtbr member
    Reputation:
    Join Date
    Nov 2005
    Posts
    870
    There are more federal taxes than income tax. And federal taxes on the top 1% are lower than many quintiles below them b/c they do not have to pay payroll tax on their earnings past a certain point. People always like to include those making 250k and above b/c then the results look vastly different. Look at people making $1million and suddenly things look quite different. High earners pay capital gains tax instead of income tax on much of their income so their rate is much lower. People with jobs that pay normal income and making 80-300k a year are the people who pay a disproportionate share of the federal taxes.

    edit here is what those poor folks making a million dollars are paying:

    http://www.cbpp.org/files/2-23-10tax.pdf

  8. #333
    Elitest thrill junkie
    Reputation: Jayem's Avatar
    Join Date
    Jul 2005
    Posts
    19,437
    Quote Originally Posted by Salespunk View Post

    What people don't realize is the real tax burden of people in that $250K+ income range. While it sounds like a lot of money the real buying power is relatively limited. Remember that the top 1% pay over 40% of all federal income taxes and only earn 18% of the income. The bottom 48% pay zero in federal income tax and receive the benefit of that disproportional payment structure.
    Actually, what we realize is that the effective tax rate and the "on paper" tax rate are two different things. Those poor 48% are also paying the exact same % of tax for things like sales tax, gas tax, license fees, etc...
    "It's only when you stand over it, you know, when you physically stand over the bike, that then you say 'hey, I don't have much stand over height', you know"-T. Ellsworth

    You're turning black metallic.

  9. #334
    mtbr member
    Reputation: Salespunk's Avatar
    Join Date
    Sep 2005
    Posts
    2,656
    So the rich should pay a disproportionate amount to support the poor correct? The 48% start around $50K in income which is not exactly poor, yet they pay nothing towards national defense, FDA, interstate highways and a host of other Federal programs yet they still derive the benefits.

    Can anyone tell me what the global top 1% and 5% are? Should we start paying an international tax to support the poor in other countries? If not, why not? They are people just like those in the US so why should we not help them as well? Their only sin is that they were born in the wrong place.

    In answer to my own question, to be in the top 1% globally you have to earn $34K/yr. To be in the top 10%, $12K/yr. 2.8 BILLION people live on less than $2/day. More than 95% of people living in developing countries live on less than $10/day. Nearly everyone on this board, except for a few shop rats (which I used to be) is in the top 1% globally. I propose that we take 48% (the effective top tax rate in California excluding payroll, SDI, etc) and use it to redistribute wealth to the REAL bottom 99%, not just those that live in the bubble that is the US.

    All of a sudden it doesn't sound so good does it? As long as a new tax does not effect you then it is a good tax. If they start messing with your income it is a horrible idea right? We are at a tipping point in the US where very soon more people will be exempt from Federal income taxes that those who pay them. Tell me what universe that makes sense in.

    I am not saying that the current code is perfect or that the rich don't pay enough. I would be willing to pay more as long as everyone pays something. It doesn't have to be a lot, but everyone should be contributing. There is a huge freerider (not the MTB type) in the US where those who don't pay derive significant benefits from those that do.

  10. #335
    mtbr member
    Reputation: Salespunk's Avatar
    Join Date
    Sep 2005
    Posts
    2,656
    Ok, back to this thread. Let's see some cool cars with bikes on them!!!

  11. #336
    mtbr member
    Reputation: Mountain Cycle Shawn's Avatar
    Join Date
    Jan 2004
    Posts
    8,793
    Quote Originally Posted by Salespunk View Post
    Should we start paying an international tax to support the poor in other countries?
    Don't kid yourself man. If the UN has its way, that is exactly what is going to happen.
    '96 San Andreas
    '12 Santa Cruz Nickel LT
    '08 KTM 530
    '12 Toyota FJ TT
    '05 MiniCooper S
    '95 Honda HB Si
    '71 Dino 246 GT

  12. #337
    mtbr member
    Reputation:
    Join Date
    Nov 2005
    Posts
    870
    Quote Originally Posted by Salespunk View Post
    So the rich should pay a disproportionate amount to support the poor correct? The 48% start around $50K in income which is not exactly poor, yet they pay nothing towards national defense, FDA, interstate highways and a host of other Federal programs yet they still derive the benefits.
    Quit being foolish. The 48% includes the retired as well who already paid into the government for years. You need to actually start with the number of people who are earning and income and currently working when you want to whine about freeloaders. They also pay a lot of payroll taxes etc... so they are hardly free loaders. The earned income tax credit is what is responsible for most of this and it was the baby of Republicans as well. Reagan said "The Earned Income Tax Credit is the best anti-poverty, the best pro-family, the best job creation measure to come out of Congress." The problem is simply one of mobility. If those people had decent jobs and made more money they would pay more taxes.

  13. #338
    Elitest thrill junkie
    Reputation: Jayem's Avatar
    Join Date
    Jul 2005
    Posts
    19,437
    Quote Originally Posted by Salespunk View Post
    So the rich should pay a disproportionate amount to support the poor correct? The 48% start around $50K in income which is not exactly poor, yet they pay nothing towards national defense, FDA, interstate highways and a host of other Federal programs yet they still derive the benefits. .
    So I haven't paid taxes over the last 5 years? That's new to me??? Who told you that I didn't pay taxes? I think you've taken the bait on the party lines, hook line and sinker. I have no problem closing loopholes for the middle incomes you are talking about, but that changes nothing about the high income brackets that don't pay the "paper rates" because they are rich enough to shift and move their money around to various shelters and take advantage of loopholes that lower income earners can't.
    "It's only when you stand over it, you know, when you physically stand over the bike, that then you say 'hey, I don't have much stand over height', you know"-T. Ellsworth

    You're turning black metallic.

  14. #339
    mtbr member
    Reputation:
    Join Date
    Aug 2004
    Posts
    145
    Quote Originally Posted by Salespunk View Post
    Ok, back to this thread. Let's see some cool cars with bikes on them!!!
    Does this count?


  15. #340
    mtbr member
    Reputation: skiahh's Avatar
    Join Date
    Dec 2003
    Posts
    3,534
    Quote Originally Posted by BobbyWilliams View Post
    Does this count?

    I don't know... looks more like a trike with some sort of car on it!!

    And I'm not sure I'd put in the "cool" category. Interesting yes, cool? Not so much!
    www.teamnavycycling.org
    10 Pivot Mach 429
    09 Felt Nine Race
    03 Litespeed Tuscany

  16. #341
    mtbr member
    Reputation:
    Join Date
    Aug 2004
    Posts
    145
    Quote Originally Posted by skiahh View Post
    I don't know... looks more like a trike with some sort of car on it!!

    And I'm not sure I'd put in the "cool" category. Interesting yes, cool? Not so much!
    How about a bike with a car on it?


  17. #342
    mtbr member
    Reputation: skiahh's Avatar
    Join Date
    Dec 2003
    Posts
    3,534
    Now THAT is cool!!
    www.teamnavycycling.org
    10 Pivot Mach 429
    09 Felt Nine Race
    03 Litespeed Tuscany

  18. #343
    the half breed devil
    Reputation: shekky's Avatar
    Join Date
    Oct 2011
    Posts
    4,184
    Quote Originally Posted by BobbyWilliams View Post
    How about a bike with a car on it?

    best post in this thread, hands down...

  19. #344
    mtbr member
    Reputation: mtbnozpikr's Avatar
    Join Date
    Sep 2008
    Posts
    1,684
    Quote Originally Posted by BobbyWilliams View Post
    How about a bike with a car on it?
    That's an old Challenger R/T right?
    2012 Intense M9
    2012 Pivot Mach 5.7 Carbon
    2008 Look 595
    2007 Custom Litespeed Sewanee

  20. #345
    mtbr member
    Reputation:
    Join Date
    Dec 2012
    Posts
    144
    lol thats pretty funny id rock my bike rack on my bently, now just need a bently.....

  21. #346
    the half breed devil
    Reputation: shekky's Avatar
    Join Date
    Oct 2011
    Posts
    4,184
    Quote Originally Posted by Steineken View Post
    lol thats pretty funny id rock my bike rack on my bently, now just need a bently.....
    i'd rock a saris on a bentley, too.

    i would just make SURE to wrap my pedals in old t shirts to keep from banging up the trunk lid. (sometimes the bike makes contact with the car when using a trunk rack)

    it's a habit i picked up from renting cars...

  22. #347
    mtbr member
    Reputation:
    Join Date
    Dec 2010
    Posts
    801
    Quote Originally Posted by Salespunk View Post
    Significant difference between saving a $1-2M and earning a high income that leads to 10's of millions in the bank. Millionaire next door is a great roadmap for anyone to save their way to being a millionaire. That does not buy you a 7 series BMW and a 5000 sqft house.

    Compare that to someone making $500K/yr. They are taking home $300K and can afford the nice car and a decent but not extravagant house. Maybe an exotic car after 10-15 years of earning that income and being smart about investments. If you are getting into exotics that is the range of people making $1M+ and yachts (not a 30' sailboat) probably closer to $5M per year.

    What people don't realize is the real tax burden of people in that $250K+ income range. While it sounds like a lot of money the real buying power is relatively limited. Remember that the top 1% pay over 40% of all federal income taxes and only earn 18% of the income. The bottom 48% pay zero in federal income tax and receive the benefit of that disproportional payment structure.
    A-men. I make very good money at my job, much more than $500K/yr but I sacrificed in ways many of you can't imagine to get to this point. When I contemplate the taxes I pay and the huge amount of money going to pay people to sit on their butts doing nothing (like most of the malingerers on disability) it makes me angry to think that the whole pack of lazy retards who make up the majority of our population want even more.

    It's not money, it's the sweat and blood and years of sacrifice that you folks are taking from me. I don't drive an exotic car and with the exception of expensive mountain bikes I live very frugally and well below my means. I take good care of my ex-wife who is an honorable and decent woman who I let down and i'd infinitely rather give my surplus income to her or my church than to some disgusting fat-body trundling up the aisles at Wal Mart throwing fatty junk food into his cart that he buys with his "food stamp" money.

    Folks, there are young men drawing full disability...free medical care, housing assistance, and food stamps...and their disability is drug addiction. Your country is out of control now.

  23. #348
    mtbr member
    Reputation:
    Join Date
    Dec 2010
    Posts
    801
    Quote Originally Posted by SS Hack View Post
    In our system, the rich are much better at wrecking the environment and exploiting people. Poor folks do get to live in the polluted aftermath however ...

    I'm an Emergency Physician. I do very well. Please explain how I exploit people and pollute the environment.

    The poor exploit each other horrifically. I see it every day in the constant parade of shootings, beatings, rapes, and drug-induced injuries. And if you've ever driven through the ghetto or a trailer park in Metho-America you will see that the poor have no regard for their own environment whatsoever and that neglect of themselves and their surroundings is the rule, not the exception.

  24. #349
    Elitest thrill junkie
    Reputation: Jayem's Avatar
    Join Date
    Jul 2005
    Posts
    19,437
    Quote Originally Posted by Ailuropoda View Post
    Folks, there are young men drawing full disability...free medical care, housing assistance, and food stamps...and their disability is drug addiction. Your country is out of control now.
    Yeah, everything is the fault of the poor. It's because they are lazy that we are in this mess...

    I've worked all my life, and I'm finally getting into a good financial position. Working up through the levels, I've yet to find this huge mass of people who just doesn't want to work. I've found a few that have a difficult time holding 2 or 3 jobs to feed families, so I guess your solution is to just shoot them or something, but I fail to see how everything is the poor's fault. Have you ever actually paid 35% income tax?
    "It's only when you stand over it, you know, when you physically stand over the bike, that then you say 'hey, I don't have much stand over height', you know"-T. Ellsworth

    You're turning black metallic.

  25. #350
    mtbr member
    Reputation: skiahh's Avatar
    Join Date
    Dec 2003
    Posts
    3,534
    Quote Originally Posted by Ailuropoda View Post
    A-men. I make very good money at my job, much more than $500K/yr but I sacrificed in ways many of you can't imagine to get to this point. When I contemplate the taxes I pay and the huge amount of money going to pay people to sit on their butts doing nothing (like most of the malingerers on disability) it makes me angry to think that the whole pack of lazy retards who make up the majority of our population want even more.

    It's not money, it's the sweat and blood and years of sacrifice that you folks are taking from me. I don't drive an exotic car and with the exception of expensive mountain bikes I live very frugally and well below my means. I take good care of my ex-wife who is an honorable and decent woman who I let down and i'd infinitely rather give my surplus income to her or my church than to some disgusting fat-body trundling up the aisles at Wal Mart throwing fatty junk food into his cart that he buys with his "food stamp" money.

    Folks, there are young men drawing full disability...free medical care, housing assistance, and food stamps...and their disability is drug addiction. Your country is out of control now.
    Now where's that popcorn smiley?
    www.teamnavycycling.org
    10 Pivot Mach 429
    09 Felt Nine Race
    03 Litespeed Tuscany

Page 14 of 20 FirstFirst ... 4 10 11 12 13 14 15 16 17 18 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •