AOC and ilk propose huge new tax increases for NY residents

[C3D]

The middle class is already fleeing in droves. Now this:

AOC, socialists target NY’s top 5% with tax hikes — households making more than $250K would be hit: analysis

Rep. Alexandria Ocasio-Cortez and her lefty Democratic Socialist comrades aren’t just targeting the 1 percenters anymore.

nypost.com

 

[Saltwater60]

Hilarious that it stops just at her income level. Also she’s a House of Representatives girl so why is she talking about taxing NY’ers?

 

[RedBreast21]

Well at least now they are putting an actually figure on it instead of a percentage. That should wake up a lot of middle class NY'ers. Those poor bastards didn't know how well off the really were. lol

The top 5% in the country according to IRS filing of about 6 years ago was 131k. Every year the IRS makes their tax data available to download with a 2 year lag. This year would be 2021 filings. If you want to blow the mind of some progressive "tax the rich" zealot, download and show them the data and have them tell you how much money the 1% would lower the annual budget by. lol Then the 5%, 10% and 20%. Pay attention to their face as they try to square the data with their well installed and groomed feeling. It's priceless.

 

[libertysnake]

IRS: "Why do you have so little income?"
Me: "We provide free meals to all our employees at our expense."
IRS: "You're a one person corp...."
Me: "Exactly."

Actually, I don't know if I can write off meals not on travel, so I won't ... yet. Still, I'm going to look REAL hard at what I can deduct then more closely this coming year.

 

[livingston]

“The vast majority of us have felt the strain of rising prices from the grocery aisle to the housing market,” the AOC-allied Democratic Socialists of America said in a recent Sept. 18 press release. “Meanwhile, the richest New Yorkers have grown their wealth since the pandemic, and it’s past time they pay their fair share.

 

[RedBreast21]

“The vast majority of us have felt the strain of rising prices from the grocery aisle to the housing market,” the AOC-allied Democratic Socialists of America said in a recent Sept. 18 press release. “Meanwhile, the richest New Yorkers have grown their wealth since the pandemic, and it’s past time they pay their fair share.

Yeah so they did the math and that "rich" group truthfully is the top 5 to 10 percent of tax payers or those making above 85k. I did a little research about 10 years ago on the so called tax the rich mantra. They never put a number on it and left you to determine who that was. All political of course.

So at the time our annual budget (borrowing a trillion as well) was 3.6 Trillion. You could have confiscated they entire wealth of those with 1 million in assets and we were 800 billion short. Or it could run our spending for about 8 months. That is the reality. Our current taxes need to literally double right now to stay afloat. Our annual spending now exceeds slightly over 4 trillion and we continue to borrow now over 1.3 trillion with a credit rating lower than the last time which penalizes us on the interest.

 

[jimc]

“The vast majority of us have felt the strain of rising prices from the grocery aisle to the housing market,” the AOC-allied Democratic Socialists of America said in a recent Sept. 18 press release. “Meanwhile, the richest New Yorkers have grown their wealth since the pandemic, and it’s past time they pay their fair share.

And this is the government's fault. The government forced small shops to close during the covid bs while allowing the largest retailers to remain open to reap huge profits. The government encouraged our current lack of work force, lack of supply chain, and increased costs by paying extended unemployment to those people who didn't feel like going to work.

 

[Cooolone]

Well, considering inflation... $250,000 certainly isn't what it used to be!

But AOC is a clown and is still trying to find her place, know her role! Just another useless politician!

 

[OwnTheRide]

Ever notice how, despite massive amounts of inflation, the line for being "rich" keeps dropping?

Consider, for example, when Bill Clinton ran for office. He proposed raising taxes on the wealthy, which his administration defined as a single person making $250k or a couple making $400k.

When Hillary ran for office, ~25 years of inflation later, she proposed the same, and defined wealthy the same way - $250k/$400k.

Now, after 7 more years of massive inflation, AoC is describing wealthy as a household - couples - making $250k.

That doesn't even get into the fact that these idiots are talking about regular income... something the actual rich typically have very little of.

--------------

I'm not rich. I'm reasonably comfortable. But as it is, I already pay slightly over 50% of my income in direct taxes (meaning, not counting the taxes I indirectly pay for that are inherent in the purchase price of things I buy). And so do most of you, though it's not as obvious as you'd think (the gov't is pretty good at disguising taxes).

 

[Grimscale]

As it is right now I bring home 59.1% of my earned income.
Granted, that also includes a pittance I have removed for a 401k...
But still... 59% of the money I earn is mine.

And now they want more? For what? What do they do, that is so expensive, with over $4trillion! We used to be able to run a whole damned country on that!

 

[Acer-m14]

AOC and get on her knees or bend over and i'll tax her

 

[spat]

As it is right now I bring home 59.1% of my earned income.
Granted, that also includes a pittance I have removed for a 401k...
But still... 59% of the money I earn is mine.

And now they want more? For what? What do they do, that is so expensive, with over $4trillion! We used to be able to run a whole damned country on that!

Don't forget how much of that 59% they take between you taking it home, and you being able to spend it.

8% right off the bat for sales tax pushes that down to 54% of your earnings (it's only 8% of the 59% take home, not 8% of the original 100%).

Add on property and other assorted taxes and you're well under half of the money you earn being yours.

 

[Grimscale]

Add on property and other assorted taxes and you're well under half of the money you earn being yours.

And we can't forget about school tax. I get a lot of return on that one.

Maybe, someday, I might actually have a child to be able to make use of that tax? (probably not!)

 

[Acer-m14]

Statists think that roads can only exist if ordered by the state. lol

 

[Bigfoot]

And we can't forget about school tax. I get a lot of return on that one.

Maybe, someday, I might actually have a child to be able to make use of that tax? (probably not!)

I never had kids, one of the reasons I didn't want kids is the expense of raising them.
So the school tax thing has always pissed me off.

The school district I'm in wants to install a new football field, a new soccer field, a new baseball diamond, and some other stuff that's not necessary...
I shouldn't have to pay toward that shit.

I'm off topic again but I figured I'd just mention it.

#payforyourownkids

 

[Saltwater60]

As it is right now I bring home 59.1% of my earned income.
Granted, that also includes a pittance I have removed for a 401k...
But still... 59% of the money I earn is mine.

And now they want more? For what? What do they do, that is so expensive, with over $4trillion! We used to be able to run a whole damned country on that!

This is just it. For what, what do they do? This piss it away on their pet projects and give it to others that don’t deserve it. I don’t mind helping people but I should not be supporting them their entire lives by me working.

 

[spat]

This is just it. For what, what do they do? This piss it away on their pet projects and give it to others that don’t deserve it. I don’t mind helping people but I should not be supporting them their entire lives by me working.

Even all the crap the socialists insist we need government to provide, like roads and police, and fire, are almost all local, with some state.

Yet the vast majority of our taxes go to the feds, for redistribution to their chosen buddies.

 

[OwnTheRide]

Don't forget how much of that 59% they take between you taking it home, and you being able to spend it.

8% right off the bat for sales tax pushes that down to 54% of your earnings (it's only 8% of the 59% take home, not 8% of the original 100%).

Add on property and other assorted taxes and you're well under half of the money you earn being yours.

And it keeps going and going...

DMV fees
Inspections
Gas tax (included in the pump price)
Various surcharges and taxes on every service (cell phones, home phones, cable, internet, rental cars, flights, propane/oil deliveries, etc)
Various surcharges and taxes on cars you buy, used or new. Most obvious one is the "gas guzzler tax" paid on new vehicles.
Various surcharges and taxes on buying/selling property. One that comes to mind is the $1000 fee to file the deed with the clerk.

We're still in the direct taxes category, and that easily gets everyone who isn't a 1%er under 50%... but it doesn't stop there. Indirect taxes are a monster: all taxes and fees imposed on commodities and companies are passed on to us. Using one example from above, propane deliveries: included in our price is the proportional share of all of the taxes and fees they paid: permits, licenses, gas taxes, employee-related taxes, income taxes, etc etc etc.

 

[Catskillkid]

And to think our ancestors started a war over a tax on tea.

 

[Parzival]

House in NY...

House in MT...

 

[Acer-m14]

propane deliveries: included in our price is the proportional share of all of the taxes and fees they paid:

so way does propane cost more to fill my tank at the home for the cook stove ..

but if its for a Furnace the cost is cheaper

 

[spat]

And it keeps going and going...

DMV fees
Inspections
Gas tax (included in the pump price)
Various surcharges and taxes on every service (cell phones, home phones, cable, internet, rental cars, flights, propane/oil deliveries, etc)
Various surcharges and taxes on cars you buy, used or new. Most obvious one is the "gas guzzler tax" paid on new vehicles.
Various surcharges and taxes on buying/selling property. One that comes to mind is the $1000 fee to file the deed with the clerk.

We're still in the direct taxes category, and that easily gets everyone who isn't a 1%er under 50%... but it doesn't stop there. Indirect taxes are a monster: all taxes and fees imposed on commodities and companies are passed on to us. Using one example from above, propane deliveries: included in our price is the proportional share of all of the taxes and fees they paid: permits, licenses, gas taxes, employee-related taxes, income taxes, etc etc etc.

Yes, what the "tax the big corporations" luddites don't understand is that businesses don't pay tax.

They merely collect tax from the consumers for the government.

It's just as true for the property tax on corporate headquarters as it is for the sales tax. Every dime of it is passed on to the consumers (i.e. you and me).

 

[OwnTheRide]

so way does propane cost more to fill my tank at the home for the cook stove ..

but if its for a Furnace the cost is cheaper

If I understand your question correctly, you're talking about getting a tank filled yourself vs home delivery. I think the answer is essentially "bulk purchase."

 

[Acer-m14]

If I understand your question correctly, you're talking about getting a tank filled yourself vs home delivery. I think the answer is essentially "bulk purchase."

the propane truck shows up and fills my tanks for the cook stove ..

so i asked how much is the cost if was for a furnace ..

was thinking of ditching the fuel oil burner and going propane

the same truck will shows up and its cheaper cost for the same 2 4 foot tall tanks i had at the time .



i finally ditched the fuel oil and installed a NAT Gas unit and laid all the gas pipe right up to the propane stove ..

 

[OwnTheRide]

the propane truck shows up and fills my tanks for the cook stove ..

so i asked how much is the cost if was for a furnace ..

was thinking of ditching the fuel oil burner and going propane

the same truck will shows up and its cheaper cost for the same 2 4 foot tall tanks i had at the time .

That is weird. The only thing I can think of is that in a lot of counties, fuel used for heat is exempt from county tax.