Vegas Free-for-All - UNLV may be forced to declare bankruptcy

UNLV may be forced to declare bankruptcy

Roulette Man

Feb 20, 2011
1:27am

Quote

Originally posted by: forkush
In Nevada in 2007, including ALL state and local taxes (all sales taxes, property tax, corporate income tax):

Earners averaging $27,300 per year paid 7.0% of their income in state and local taxes.

Earners averaging $67,800 per year paid 6.2% of their income in state and local taxes.

Earners averaging $2,368,000 per year paid 2.0% of their income in state and local taxes.

Fair?

In the usual Forkie way, this stat I'm sure is extremely misleading. I'm sure it probably includes social security taxes which terminate after a certain amount of income. Unless these people are in munis and tax deferred investments, I'm calling bullshit on you.

Roulette Man

Feb 20, 2011
1:28am

Block User

Quote

Originally posted by: Number51

Quote
Originally posted by: forkush
In Nevada in 2007, including ALL state and local taxes (all sales taxes, property tax, corporate income tax):

Earners averaging $27,300 per year paid 7.0% of their income in state and local taxes.
Earners averaging $67,800 per year paid 6.2% of their income in state and local taxes.
Earners averaging $2,368,000 per year paid 2.0% of their income in state and local taxes.

Fair?

Not 100% on this, but I believe the current excuse/reason that these seeming inequities are all American A-OK, require a three pronged explanation.

1. Two million a year means you work harder. Even if the 2M/year guy doesn't work, you have to figure they had enough money to go to college, and probably endured a grueling fraternity initiation. They deserve to keep more money based on sacrifice.

2. The 2M/year guy will reinvest his money back into the system creating more 27K/year jobs that will pay a higher tax rate. Win win.

3. God loves money, therefore he loves wealthy people more than poor people. 2M/year is closer to baby Jesus than 27K/year.

I'm sure our Republican friends here will do a better job of explaining this than I have. I am really looking forward to our resident "Libertarian" explaining this using six to eight bullet points.

Why is the typical liberal simpleton response that someone who earned a higher income, either inherited it or didn't work hard for it?

chefantwon

Feb 20, 2011
1:46am

Block User

Quote

Originally posted by: Number51

Quote
Originally posted by: forkush
In Nevada in 2007, including ALL state and local taxes (all sales taxes, property tax, corporate income tax):

Earners averaging $27,300 per year paid 7.0% of their income in state and local taxes.
Earners averaging $67,800 per year paid 6.2% of their income in state and local taxes.
Earners averaging $2,368,000 per year paid 2.0% of their income in state and local taxes.

Fair?

If the 2M/yr guy went to college he laid down about $100k to pay for some people who has never worked a real job in their entire lives.

If the 2m/yr guy doesn't use any loopholes and just pays what the state and feds says to they will lose anywhere from 40% to 60% of their income to taxes. Not counting sales taxes, property taxes, alcohol taxes, taxes on electric, gas, sewage, water, and trash. The 2M/yr creates jobs as someone has to: read his electric meter, empty his garbage, ring up his groceries, and sell him his 40K car.

I never knew GOD had a minimum income in order to be a Christian. Last I heard, he liked the poor much better than the rich. Poor folks knew more about the hardships of life better than the rich, were more thankfull for what little they had. Maybe your thinking of the Jimmy Swaggarts out there, be real rich, preach being close to GOD and rip off the masses as much as possible. GOD ought to just love assholes like him.

Do yourself a favor and total up all of the state, federal,local,city,sales,and taxes on services for one year and take that as a percentage of income you earn.

Also ask your friends how many jobs they created last year? Ask folks on welfare how many jobs they created, how about that car salesman, how many jobs did he create?

For some lite reading, check on the tax policies during the middle ages. Want to see the poor folks getting the shaft, they got reamed quite well until after the plague. After most of the other folks were dead.

MisterPicture

Feb 20, 2011
1:50am

Block User

Quote

Originally posted by: Roulette Man

Quote
Originally posted by: forkush
In Nevada in 2007, including ALL state and local taxes (all sales taxes, property tax, corporate income tax):

Earners averaging $27,300 per year paid 7.0% of their income in state and local taxes.
Earners averaging $67,800 per year paid 6.2% of their income in state and local taxes.
Earners averaging $2,368,000 per year paid 2.0% of their income in state and local taxes.

Fair?

Wrong. Social Security is a FEDERAL tax. The above statistics refer to STATE of Nevada taxes, including sales taxes, property tax, and (just to be fair) corporate income tax.

The state tax rate for those who average under $30K income is about 350% greater than the rate for those who average over $2,000,000. If you think that's fair, you should say so. But covering your ears and saying "La la la I can't hear you" does not make for intelligent debate.

Don

Feb 20, 2011
2:08am

Block User

Quote

Originally posted by: chefantwon
Forkie, please tell me how New York gets rated better than Nevada or even California?

DonDiego is not forkush, but he can answer this query.

Nevada has no personal income taxes; forkush's post does state the figures are based on sales, property, and
corporate income taxes.

: : : : : EDITED TO ADD : : : : :
DonDiego apologizes; he failed to see forkush's post immediatey preceding this post before posting.

chefantwon

Feb 20, 2011
2:10am

Block User

Quote

Originally posted by: forkush

Quote
Originally posted by: Roulette Man
Quote
Originally posted by: forkush
In Nevada in 2007, including ALL state and local taxes (all sales taxes, property tax, corporate income tax):

Earners averaging $27,300 per year paid 7.0% of their income in state and local taxes.
Earners averaging $67,800 per year paid 6.2% of their income in state and local taxes.
Earners averaging $2,368,000 per year paid 2.0% of their income in state and local taxes.

Fair?

In the usual Forkie way, this stat I'm sure is extremely misleading. I'm sure it probably includes social security taxes which terminate after a certain amount of income. Unless these people are in munis and tax deferred investments, I'm calling bullshit on you.

You DID read the part about that FEDERAL offset??? What exactly does that mean? It means simply that folks get money back from the Feds if they own a home. How many poor folks actually own their home? How many poor folks are paying a mortgage? How many homeless folks own a home? Those folks making $2m/yr have houses that are worth what? Usually more than I earn in 10 to 30 years. $350,000.00 to more than $1,000,000.00. Hence their deduction is much higher than the Joe that has a $50,000.00 to $75,000.00 home.

The folks that make more also have an advantage the pooer folks don't, lawers to find those state loopholes to shelter their income from taxes. Poor people can'tafford services like that, they have to do other stuff like buy food for their families.

I'm one of those poor folks, I can't afford stuff like life or health insurance, I have a tad more than $40,000.00 in outstanding medical bills (it was more than $140,000.00 but I caught a break because I'm poor), I don't have a brand new car, and I don't own my own home.

Last I looked, I didn't create any jobs last year and neither did anyone I know of. Hell, a CEO I know actually got rid of about 10 jobs this last year. He makes around $350,000.00 a year IF he doesn't exercise any stock options, if he does, it goes up to $1.5 Mil/yr.

Roulette Man

Feb 20, 2011
2:12am

Block User

Quote

Originally posted by: forkush

Quote
Originally posted by: Roulette Man
Quote
Originally posted by: forkush
In Nevada in 2007, including ALL state and local taxes (all sales taxes, property tax, corporate income tax):

Earners averaging $27,300 per year paid 7.0% of their income in state and local taxes.
Earners averaging $67,800 per year paid 6.2% of their income in state and local taxes.
Earners averaging $2,368,000 per year paid 2.0% of their income in state and local taxes.

Fair?

In the usual Forkie way, this stat I'm sure is extremely misleading. I'm sure it probably includes social security taxes which terminate after a certain amount of income. Unless these people are in munis and tax deferred investments, I'm calling bullshit on you.

Wrong. Social Security is a FEDERAL tax. The above statistics refer to STATE of Nevada taxes, including sales taxes, property tax, and (just to be fair) corporate income tax.

By the way, your liberal buddies in California tax at the highest rate after around $47,000 of income (9.55%).

The state tax rate for those who average under $30K income is about 350% greater than the rate for those who average over $2,000,000. If you think that's fair, you should say so. But covering your ears and saying "La la la I can't hear you" does not make for intelligent debate.

SOCIAL SECURITY ISN'T AN INCOME TAX. Would the rich be able to collect every dime of social security if every single dollar of their income was taxed? Of course not. You have yet to show this board that you can give an honest answer. Social security isn't making up for that whole differential. What else is making up only 2% of taxes, or were you only talking about social security taxes? Stop with the smoke and mirrors Forkie. You may impress the used car salesmen and the other charlatans, but you aren't impressing us.

By the way, here in California, one is taxed in the top bracket after $47,000 of income. Now how is that only 2%?

MisterPicture

Feb 20, 2011
2:26am

Block User

Quote

Originally posted by: Roulette Man

Quote
Originally posted by: forkush
Quote
Originally posted by: Roulette Man
Quote
Originally posted by: forkush
In Nevada in 2007, including ALL state and local taxes (all sales taxes, property tax, corporate income tax):

Earners averaging $27,300 per year paid 7.0% of their income in state and local taxes.
Earners averaging $67,800 per year paid 6.2% of their income in state and local taxes.
Earners averaging $2,368,000 per year paid 2.0% of their income in state and local taxes.

Fair?

In the usual Forkie way, this stat I'm sure is extremely misleading. I'm sure it probably includes social security taxes which terminate after a certain amount of income. Unless these people are in munis and tax deferred investments, I'm calling bullshit on you.
Wrong. Social Security is a FEDERAL tax. The above statistics refer to STATE of Nevada taxes, including sales taxes, property tax, and (just to be fair) corporate income tax.

By the way, your liberal buddies in California tax at the highest rate after around $47,000 of income (9.55%).

The state tax rate for those who average under $30K income is about 350% greater than the rate for those who average over $2,000,000. If you think that's fair, you should say so. But covering your ears and saying "La la la I can't hear you" does not make for intelligent debate.

SOCIAL SECURITY ISN'T AN INCOME TAX...

Dude, breathing into a paper bag may help.

My post has nothing to do with Social Security. It refers to state taxes, NOT federal taxes. It refers to Nevada taxes, NOT taxes in any other state.

And according to the above, lower income people in the STATE of NEVADA pay STATE taxes at a rate 350% times that of those making over $2 million. Again I ask, fair?

Roulette Man

Feb 20, 2011
4:03am

Block User

Quote

Originally posted by: forkush

Quote
Originally posted by: Roulette Man
Quote
Originally posted by: forkush
Quote
Originally posted by: Roulette Man
Quote
Originally posted by: forkush
In Nevada in 2007, including ALL state and local taxes (all sales taxes, property tax, corporate income tax):

Earners averaging $27,300 per year paid 7.0% of their income in state and local taxes.
Earners averaging $67,800 per year paid 6.2% of their income in state and local taxes.
Earners averaging $2,368,000 per year paid 2.0% of their income in state and local taxes.

Fair?

In the usual Forkie way, this stat I'm sure is extremely misleading. I'm sure it probably includes social security taxes which terminate after a certain amount of income. Unless these people are in munis and tax deferred investments, I'm calling bullshit on you.
Wrong. Social Security is a FEDERAL tax. The above statistics refer to STATE of Nevada taxes, including sales taxes, property tax, and (just to be fair) corporate income tax.

By the way, your liberal buddies in California tax at the highest rate after around $47,000 of income (9.55%).

The state tax rate for those who average under $30K income is about 350% greater than the rate for those who average over $2,000,000. If you think that's fair, you should say so. But covering your ears and saying "La la la I can't hear you" does not make for intelligent debate.

SOCIAL SECURITY ISN'T AN INCOME TAX...

Hmmm. If Nevada were so great, one would think that most retirees would be headed there, because of no income tax, and cheap housing? The fact is they are not coming to Nevada.

There are several states in the union with no income tax, including Nevada, Texas, Washington, and Florida. How do you think they get their revenues in lieu of income tax?

malibber

Feb 20, 2011
6:32am

Block User

I am sure glad I did my research before I posted it:Lowest Tax Rates

Anyway the reason those other taxes which fall mostly on the middle class and poor have been going up is because that is what is being used to offset the tax cuts that went to the upper earners.

Quote

Originally posted by: melbedewy

Quote
Originally posted by: malibber
Amazing given all these fiscal problems that you have to go back to 1950 to find tax rates lower than they are today.

Really genius?
Why don't you do some research on what the sales taxes, state income taxes, SS taxes, Medicare, gasoline, alcohol, cigarettes, car and most of all property taxes were in 1950.
Then come and tell us.
Hint-a lot of "zero's".

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