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FEEL THE BERN!
04-27-2016, 03:52 PM #1
Kreeper Griobhtha
Posts:10,820 Threads:652 Joined:Feb 2011
Instead of Hiring Three People, I Sent the IRS $170,000. Government, FTW

Quote:On April 13th, 2016, I wrote the federal government a check for $170,000 for the overage on my taxes.

Quote:This check represented a portion of my total tax bill for the year, approximately $400,000. That amount did not include state tax, local tax, property tax, import taxes, sales tax, excise taxes, and other extraneous expenses.

I am the founder of several companies, and they employ more than twenty people in total. Together, their revenues total more than $10 million per year. When my total tax bill is calculated, it represented more than half of my total taxable income (after subtracting obvious business expenses of office rent, equipment, etc).

Quote:Once in the top income bracket, 39.6% of every dollar goes to the federal government. What most people overlook, though, is the extremely expensive payroll tax. The total payroll tax rate is an additional 15.3% on your first $118,500, plus a portion of each employee’s salary. For some incomes, the additional of the payroll tax brings the total tax burden to well over 40%, even if they are not in the top tax bracket. Add in state, local, import and export, as well as all other taxes, and you have a tax bill that can run well over 60 percent.

Quote:The surprise this year, though, was the inventory expense that hurt our cash flows.

At the end of 2015, we placed a major purchase order for inventory of our products. If you sell physical products in your business, the government does not allow you to write it off until it is sold, because it considers that purchase to be an asset, rather than an expense.

Quote:In other words, the business was fully invested in inventory and people, and then we had to pay tax on money that was not yet earned.

Quote:When the government promises to add jobs to the economy, build a new program, or “do” anything, it has to take from citizens who would normally invest into the economy. In my case, it has literally prevented three jobs from being created, and will celebrate whatever it claims to accomplish with that money instead.

Quote:For one thing, the rhetoric which assumes that “the rich don’t pay taxes” is oversold and needs to stop.

Quote:I could have hired three people. Now I cannot. Meanwhile, 45% of the country pays no taxes at all, while telling me that I should pay more. I paid $170,000 in taxes that should have been avoided. What is your “fair share?”

I have a friend that made $180k last year. He paid $45k in federal taxes and it would have been more if he hadn't just bought a house. When do we say enough is enough? When do we start requiring people to get off their asses and pull their mouths from the nipple of free shït?

Bernie's entire campaign has been built on promises he can no possibly keep. If you increased the tax on the top 5% of earners to 100% you could only pay for half of what he has promised. His promises, if kept, would destroy this country.

Politicians hide themselves away
They only started the war
Why should they go out to fight?
They leave that role to poor
04-27-2016, 04:03 PM #2
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,490 Threads:1,442 Joined:Feb 2011
(04-27-2016, 03:52 PM)Kreeper Wrote:  Instead of Hiring Three People, I Sent the IRS $170,000. Government, FTW

Quote:On April 13th, 2016, I wrote the federal government a check for $170,000 for the overage on my taxes.

Quote:This check represented a portion of my total tax bill for the year, approximately $400,000. That amount did not include state tax, local tax, property tax, import taxes, sales tax, excise taxes, and other extraneous expenses.

I am the founder of several companies, and they employ more than twenty people in total. Together, their revenues total more than $10 million per year. When my total tax bill is calculated, it represented more than half of my total taxable income (after subtracting obvious business expenses of office rent, equipment, etc).

Quote:Once in the top income bracket, 39.6% of every dollar goes to the federal government. What most people overlook, though, is the extremely expensive payroll tax. The total payroll tax rate is an additional 15.3% on your first $118,500, plus a portion of each employee’s salary. For some incomes, the additional of the payroll tax brings the total tax burden to well over 40%, even if they are not in the top tax bracket. Add in state, local, import and export, as well as all other taxes, and you have a tax bill that can run well over 60 percent.

Quote:The surprise this year, though, was the inventory expense that hurt our cash flows.

At the end of 2015, we placed a major purchase order for inventory of our products. If you sell physical products in your business, the government does not allow you to write it off until it is sold, because it considers that purchase to be an asset, rather than an expense.

Quote:In other words, the business was fully invested in inventory and people, and then we had to pay tax on money that was not yet earned.

Quote:When the government promises to add jobs to the economy, build a new program, or “do” anything, it has to take from citizens who would normally invest into the economy. In my case, it has literally prevented three jobs from being created, and will celebrate whatever it claims to accomplish with that money instead.

Quote:For one thing, the rhetoric which assumes that “the rich don’t pay taxes” is oversold and needs to stop.

Quote:I could have hired three people. Now I cannot. Meanwhile, 45% of the country pays no taxes at all, while telling me that I should pay more. I paid $170,000 in taxes that should have been avoided. What is your “fair share?”

I have a friend that made $180k last year. He paid $45k in federal taxes and it would have been more if he hadn't just bought a house. When do we say enough is enough? When do we start requiring people to get off their asses and pull their mouths from the nipple of free shït?

Bernie's entire campaign has been built on promises he can no possibly keep. If you increased the tax on the top 5% of earners to 100% you could only pay for half of what he has promised. His promises, if kept, would destroy this country.

It's not so much the nipple of free shït as it is financing endless wars on ideas that can't be won for perpetuity, and the interest we all pay to private banks to create money out of thin air and loan it to the govt.
That's where most of the money goes.
Eliminate that shït and tax rates could be slashed across the board.

wonder.gif
04-27-2016, 05:59 PM #3
Kreeper Griobhtha
Posts:10,820 Threads:652 Joined:Feb 2011
(04-27-2016, 04:03 PM)JayRodney Wrote:  It's not so much the nipple of free shït as it is financing endless wars on ideas that can't be won for perpetuity, and the interest we all pay to private banks to create money out of thin air and loan it to the govt.
That's where most of the money goes.
Eliminate that shït and tax rates could be slashed across the board.

What I was referring to was the generational welfare families. The families that have been living on our dime for generations with no intention of stopping. I know first hand that people sometimes need a little help. I also know, because I couldn't get that help, that we can also work hard and make better choices and we can help ourselves. Too many are only interested in free shït with no effort. They don't even realize they are in bondage to the Liberal white Dems that are buying their votes. Bernie is a racist. If he wasn't he would be fighting to help them get educations and job training instead of welfare. But what else would you expect from a man that never held a job until he was 45?

I agree that money would be plentiful if they stopped the unending wars. Bernie hasn't proposed that. He wants to increase the taxes on everyone that pays them. Under his plan, a person that makes $50k a year would right away be paying $5k more in taxes. The more you make the higher percentage you pay.

The problem with Socialism is that it involves people. Without requiring people to work to get help you will end up with a worse situation that we already have. Far too many people take advantage of the programs and put even more burden on the rest of us.

With Bernie's promises you can take 100% of the military budget ans tax the top 10% of the people at a 100% rate and still only raise half of the money needed. When you figure in the business that will close and the the corps and peple that will leave the country and the resulting jobs lost you will see a total collapse.

I would love free health care and a free college education, but I also see that I need to be responsible for myself and my family and that would be easier without having to pay someone else's way. If everyone thought that way then we could make life a little easier for everyone.

free shït=bondage

Politicians hide themselves away
They only started the war
Why should they go out to fight?
They leave that role to poor
04-27-2016, 09:08 PM #4
bohica Member
Posts:1,602 Threads:196 Joined:Feb 2011
I'm half-assed prepared for societal collapse.
I almost look forward to it.
I understand how sick that sounds, but I believe the entire planet needs a reset.

I'm in my seventh decade on Earth. I know things.
04-27-2016, 09:24 PM #5
UniqueStranger Art in my heart
Posts:15,142 Threads:428 Joined:Jun 2012
(04-27-2016, 09:08 PM)bohica Wrote:  I'm half-assed prepared for societal collapse.
I almost look forward to it.
I understand how sick that sounds, but I believe the entire planet needs a reset.

A reset to what? When did we ever get it right?
04-27-2016, 09:25 PM #6
Kreeper Griobhtha
Posts:10,820 Threads:652 Joined:Feb 2011
(04-27-2016, 09:08 PM)bohica Wrote:  I'm half-assed prepared for societal collapse.
I almost look forward to it.
I understand how sick that sounds, but I believe the entire planet needs a reset.

Can't argue with that.


Politicians hide themselves away
They only started the war
Why should they go out to fight?
They leave that role to poor
04-27-2016, 09:41 PM #7
bohica Member
Posts:1,602 Threads:196 Joined:Feb 2011
(04-27-2016, 09:24 PM)UniqueStranger Wrote:  
(04-27-2016, 09:08 PM)bohica Wrote:  I'm half-assed prepared for societal collapse.
I almost look forward to it.
I understand how sick that sounds, but I believe the entire planet needs a reset.

A reset to what? When did we ever get it right?

Reset to Zero. Single cell life forms.

I'm in my seventh decade on Earth. I know things.
04-27-2016, 09:42 PM #8
UniqueStranger Art in my heart
Posts:15,142 Threads:428 Joined:Jun 2012
(04-27-2016, 09:41 PM)bohica Wrote:  
(04-27-2016, 09:24 PM)UniqueStranger Wrote:  
(04-27-2016, 09:08 PM)bohica Wrote:  I'm half-assed prepared for societal collapse.
I almost look forward to it.
I understand how sick that sounds, but I believe the entire planet needs a reset.

A reset to what? When did we ever get it right?

Reset to Zero. Single cell life forms.

But, I am enjoying being a multi-celled organism in many respects.
04-28-2016, 07:32 AM #9
Cynicalabsurdance Member
Posts:8,976 Threads:209 Joined:Feb 2011
Critical Mass
Implode
no shame in it
Death Squads
Death Camps
Work Camps
ğck it man

The Population has grown beyond sustainability man
The Planet can't recover from the Pollution as it is

It's corruption is to persuasive
it's been over for many decades man

either drop the ğck out
struggle on paying more than you get back

or set the Town afire

choices are grim
but way past your time to make one
04-28-2016, 12:17 PM #10
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,490 Threads:1,442 Joined:Feb 2011
Sustainability is okay with basic necessities. In fact all the extra CO2 we have going on is yielding bumper crops.
It's distribution of wealth and food that's a bigger problem.

wonder.gif
04-28-2016, 02:07 PM #11
Kreeper Griobhtha
Posts:10,820 Threads:652 Joined:Feb 2011
(04-27-2016, 09:41 PM)bohica Wrote:  
(04-27-2016, 09:24 PM)UniqueStranger Wrote:  
(04-27-2016, 09:08 PM)bohica Wrote:  I'm half-assed prepared for societal collapse.
I almost look forward to it.
I understand how sick that sounds, but I believe the entire planet needs a reset.

A reset to what? When did we ever get it right?

Reset to Zero. Single cell life forms.
Oh...

I thought you meant a societal reset. Sorry, I like being multi-celled. It's hard to have sex as a single-celled organism.

Politicians hide themselves away
They only started the war
Why should they go out to fight?
They leave that role to poor
04-28-2016, 02:29 PM #12
Kreeper Griobhtha
Posts:10,820 Threads:652 Joined:Feb 2011
(04-28-2016, 12:17 PM)JayRodney Wrote:  Sustainability is okay with basic necessities. In fact all the extra CO2 we have going on is yielding bumper crops.
It's distribution of wealth and food that's a bigger problem.


Agreed. Things could be much better. But things can never be what the Progressives want. You can't have a sizable portion of the country sitting on their asses taking advantage of the rest. They must be made to get of their asses and do their part. Make them earn what they are getting. If you allow them to get free everything then you take away the incentive for others who are struggling. Put them to work rebuilding the infrastructure. Put them to work picking up trash. Just put them to work. Nothing is free.

Another thing, we MUST stop paying farmers to destroy crops to keep the market up. It is beyond sinful that we would destroy food to make more profit while people are starving.

Politicians hide themselves away
They only started the war
Why should they go out to fight?
They leave that role to poor
04-29-2016, 12:31 PM #13
Ninelives Singing In The Rain
Posts:2,783 Threads:40 Joined:Feb 2016
(04-28-2016, 12:17 PM)JayRodney Wrote:  Sustainability is okay with basic necessities. In fact all the extra CO2 we have going on is yielding bumper crops.
It's distribution of wealth and food that's a bigger problem.

We have to plant our crops every year, when we have had a good year with plenty of rain we make a crop, a 1/4 of that crop goes to taxes to the United States Government. When there is a dry year and the crop will not make we have to till it under, get an insurgence check from the US Government and that insurgence is payed by the American peoples taxes.

Every 7 years we have to let the land rest and the US government plants our lands with Peas just to be tilled under, it adds nitrogen back into the land, it is against the law for people to pick those peas for food.

It is a messed up system !!!

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