Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : John McCain for President -- Ignore unavailable to you. Want to Upgrade?

To: Peter O'Brien who wrote (496)	2/21/2000 7:44:00 PM
From: Brian P.	Respond to of 6579

No, you just don't get it. You completely miss the point. Lift your head up out of the numbers for one second and listen. You grab one narrow fact in isolation, scheme like a lawyer to spin out clearly disastrous tax consequences, imputing to McCain intentions he clearly can not and does not have, in fact has spent his entire career in congress voting against (he is enemy number one of pork-barrel spending, which is why his Republican fat cat hypocrite fellow senators in congress fear him) and say, gotcha! Better vote for Shrub! This is a smear tactic.

To: Peter O'Brien who wrote (496)	2/21/2000 7:47:00 PM
From: chalu2	Read Replies (1) \| Respond to of 6579

>>Hell, if the family had 7 kids, their marginal rate would be 101%!!! How does that grab you??? For every extra dollar earned, the family would LOSE IT ALL plus OWE AN EXTRA CENT!!!<< No, the exemption just wouldn't apply at all if you had seven kids, and you would pay whatever the overall tax rate is on $110,000. If 31%, you pay $34,100. That's about $3,100 for every $10,000 in income. There are no conditions under which taxes exceed income. I think the basic error is on focusing on one $10,000 tranch of income, not overall income, and assuming 4 children (isn't the national average 2.1?). Plus, as I've shown, the numbers differ dramatically if we look at $140K (or $150K, 160K). Also, I'd guess that the vast majority of American families with 4 children earn nowhere near $100,000 a year. (looking back at the McCain site, the phase out appears to kick in at $110K under current law, but it's not entirely clear). I still do not agree with your 71% caculation, but I wouldn't belabor it by explaining why again. What percentage of American families earn over $100,000 anyway? I read recently that the average wage is about $25,000.