People who make $10,000 a year are bailing out millionaires...

[originalpckelly]

Yeah that sounds right to me.

We should stop the government redistribution of wealth. Where's your fucking rhetoric about government intervention now? We need a free market, except when rich people get in trouble, right? It's like a little kid sweeping dirt under the rug, but now it's the 800 lbs elephant in the room. Here's a clue, even if you sweep the elephant under the rug, it's still in the room.

So who's sick of this bullshit?

[magellan]

1. We're being taken to the cleaners, then out back in the alley and beaten

This country is insolvent and no working-weekend in Congress is going to fix that.

[Kurt_and_Hunter]

2. You think people making $10,000 typically pay any federal income tax??

[ColbertWatcher]

4. You think people who don't pay income tax won't suffer because of this? n/t

[Kurt_and_Hunter]

9. Classic DU non-sequitur

And no, poor people will not suffer because of this. They will benefit greatly. As you may or may not understand, economic dislocations affect the poorest the most.

A functioning economy is prerequisite to any sort of progressive change that actually helps anyone.

A dysfunctional economy makes rich people somewhat less rich, but makes working people homeless.

[ColbertWatcher]

13. I wouldn't say your reply was a non-sequitur, just ignorant/. n/t

[Robbien]

18. Utter nonsence

But keep up the bullshit. It keeps the thread active highlighting the central theme being the rich have their hands in the pockets of the average Joe,,,again.

[readmoreoften]

26. A functioning economy is not the prerequisite of any sort of progressive change.

Please stop trying to pretend you give a shit about poor people. When global capital interests bought all the WATER in Cochabamba, Bolivia and made people even more desperate than they already were, a huge social movement began and they through the murderous bastards out and continued with a enormous progressive movement.

Progressive change happens due to the courage of the masses, not the economic status quo of the rich.

[readmoreoften]

27. Oh, and by the way, his post wasn't a non-sequitur but yours is.

[trackfan]

5. Yes. They do.

I have made less than 10K and paid income taxes twice in the last 8 years.

[Kurt_and_Hunter]

10. Hence the word 'typically'

[originalpckelly]

6. Yes, actually.

If you make above $8,950 in 2008, you will have to pay taxes on the amount above that. It's not much, but in principle, someone (single) making $10,000 a year will have to pay taxes on the money over $8,950.

[sandnsea]

7. FICA? Yes we do

And yes it is the FICA trust fund that this government has been operating on, while the rich have walked away with the tax cuts and are now walking away with even more.

[originalpckelly]

11. Even without FICA, whose various funds the government has been raiding to pay for rich tax cuts...

people still making that much who are single must pay taxes. Only $105, but still some of that is going to this. This bailout is at least a third of the federal budget, and it will probably be more.

[sandnsea]

19. It's our FICA that people keep forgetting

when they blather on about low income people not paying taxes. We pay MORE, in many instances, and yes that money is being used to fund this government. If the rich hadn't gotten their capital games and income and other tax cuts, then our FICA would be there to pay our retirement, like it should be.

[originalpckelly]

23. Indeed.

No one talks about the raiding of Social Security to pay for deficits.

[AZ Criminal JD]

41. You are wrong

After the standard deduction and the exemption someone making 10k does not pay federal income taxes. The bailout will not be "a third of the budget" It is a potential of 700 billion over many years but the true cost will be far far lower as properties are sold off. In fact the government may make money on it.

[Kurt_and_Hunter]

12. If you believe FICA is federal income tax, that's cool.

[originalpckelly]

14. It is when the government raids the social security trust fund to pay for the deficit.

So yes, in the long run, FICA is an income tax.

[sandnsea]

16. If you don't know what is funding this country

then maybe you want to stop ridiculing people until you do.

[Ikonoklast]

37. It is an involuntary contribution levied by the Federal Gov't.

Based on earnings.

That's called 'taxation'.

[McCamy Taylor]

43. They pay many other taxes and they will get less social services because of this.

So, yes, they pay. You pay. I pay. Only the uber-rich, we already do not pay their fair share of taxes will not pay, because they have been squirreling away money from their deregulated investments (some of them downright illegal) and now their companies are getting bailed out so that they can continue the same bad policies.

JP Morgan tried to get FDR thrown out of office in a military coup. Now, JP Morgan wants a hand out. JP Morgan can kiss my ass.

[SOS]

44. No, but at $15,000 you sure do

Add the standard deduction and the personal exemption and you come to about $13K.
After that you start paying.

Not to mention the 7.5% payroll tax on every penny of earned income which is "borrowed" annually to make the federal budget look less horrific than it is.

[ColbertWatcher]

3. Brilliant!

People who make $10,000 a year are bailing out millionaires...

You have put this entire debacle in a nut shell.

Thank you.

[originalpckelly]

8. It's like we've taken up a collection to help our corporate overlords out.

"Well, folks, your slaveowners are in deep shit, so you've got to help them out, so they can keep you enslaved. I mean, you wouldn't actually want to be able to afford shoes on your own, when you could rack up debt for your life to pay for them, right?"

[sinkingfeeling]

15. Stop exaggerating things. The vast majority of people making $10K or less a year do

not pay federal income taxes. There will be no rich people directly getting money from government intervention. This is a national issue that does call for a response. I very much dislike paying the amount of federal income tax I have paid for the last 35 years because I do not agree with how it is spent. I pretend that every dime I pay goes only for domestic social programs and that somebody else's money goes to support the military and killing.

You know, part of the problem with America is that we no longer think as a nation. Everybody thinks they're the ones getting screwed. I pay hefty taxes, didn't get a 'stimulus' check, and know people who get 'earned income credits' yearly that did receive one. Hell, even newborns got $300 and they certainly had made no contribution to the country nor the economy. But every year I pay my taxes, without trying to cheat the IRS or by taking 'loopholes'. A few decades ago, we stopped talking about the 'common good' and how we, as citizens, have certain responsibilities to fund national things in the best interest of the nation.

What this 'bailout' is doing, is adding additional amounts ($600 billion to $1.2 trillion) to existing national debt, now approaching $10 trillion. Do you really want to see major investment companies continue to go into bankruptcy? To be bought by foreign investors? To see millions of your fellow citizens drop into those lower income levels...losing their retirement funds and homes continuing to be devalued?

I'm supposedly less than two years away from retirement. But as of this week, I'll probably continue to work and pay my share of the tax burden for many more years.

[ColbertWatcher]

20. This has nothing to do with federal income taxes!

How was the invasion of Iraq paid for? That's right, the federal budget! But, don't forget, when the feds ran low on money, they raided the states by defunding programs, which caused the states to raid the cities for the cash to pay for things the feds were no longer funding.

Right now, it looks like it will only be federal dollars. But there is always a consequence, and even unintended consequences.

Remember, no matter who wins in November, the GOP will have control of the federal government until January 20, 2009.

[sinkingfeeling]

24. Really, then how the hell can you claim someone making $10K is bailing out anybody? There hasn't

been a dime of the Iraq occupation paid for. It's in the national debt. We've been borrowing money at the rate $1.8 billion a day. The only way that debt will ever be reduced is by increasing revenue (i.e., federal income tax) or completely cutting off all expenses (military, domestic, foreign programs) or having the USA declare bankruptcy.

Yes, there have been reductions in programs within some states that help out people in lower income brackets. And the feds reduced their allocations to the states. So? There was no money going between cities to states to Washington.

[ColbertWatcher]

32. I think you answered your own question. n/t

[sinkingfeeling]

33. I honestly don't understand your arguement at all.

[readmoreoften]

28. Okay then people making 20K dollars a year are bailing out millionaires.

Moron.

[stranger81]

40. ** crickets **

what rock do these corporate apologists slither out from under?

[SpiralHawk]

17. "Cool." - 'Elite' Cabal of Republicon Homelander Chickenhawk Cronies

[ColbertWatcher]

22. Great picture! n/t

[SpiralHawk]

30. "Fer sure. It's one of our favs" - Proles (formerly known as citizens of the USA)

[magellan]

21. So are their future children and grandchildren

...who might have stood a reasonable chance of earning more than $10k/year (and contributing more to its repayment) if not for the incalculable debt that's already cutting off the path to their socio-economic advancement.

[mimitabby]

25. Today my coworker and I agreed

yes, my ultra right wing creationist coworker and i agreed on a political issue for the first time in 25 years.

THIS.

[intheflow]

29. Get real!

It's only slackers who make so little. Take me, for instance. I'll make almost $12,000 this year, and of course I'm happy to bail out billionaires! :sarcasm:


And for those of you who don't think people making $10K pay taxes, try buying gas, clothing, and in many places, even groceries, without paying sales tax. There are also taxes on utilities. No one in this country escapes taxes completely, unless you're living in a cardboard box under a bridge.

[AZ Criminal JD]

42. The post was about federal income taxes.

Not all the other taxes you mentioned. The bailout will be coming from the federal budget.

[Greyhound]

31. I see you've brought out the gatekeepers, good job. "Nothing to see here,

everything is just fine, our masters will take of us all, now go back to your pods and plug in your Soma-boxes.

:kick: & R

[earth mom]

35. Yep the gatekeepers stick out like an ugly smelly festering wound don't they?

:puke:

[Greyhound]

38. At least the are a minority here.

Still, it makes it hard to see any hope for the future when such people claim, and many believe, to be liberal.
:kick:

[earth mom]

39. I think it's good to point out that they are here on DU, in case some people don't realize

how devious and rotten to the core that they are.

[judasdisney]

34. Lets get some popcorn & build a gallows & hang 'em

Republicans believe in the death penalty, don't they?

[earth mom]

36. Great post that gets to the heart of the matter: an Enron like ripoff on a grand & massive scale.

:grr: