NJ governor: cut state income tax rate on income over $500,000

[Heracles 417]

Every living, breathing human being has basic needs - food, clothing, shelter, and the working poor spend a significant amount of their income on such basic necessities. Walmart wouldn't exist today without the purchasing power of millions of poor people who shop there, and Walmart is the largest retailer in the world.

Is a rich man's dollar spent at Walmart worth any more than a poor man's? And in terms of sheer numbers, there are more poor people spending their money at places like Walmart than rich people.

Walmart exists here because Repubs have allowed this monopoly to grow, at the expense of Americans. Who has the chance or resources to compete with them now? They have effectively created a bell. It would take the resources of Apple, Microsoft, Exxon, Shell and Texaco combined to have a shot. Find me one economics or capitalism 101 textbook that says a monopoly or duopoly is good for the market - for the consumer.

Just yesterday I read an article that the divide between the rich and poor in the US is now growing to unprecedented levels. Looks like my prediction that America is becoming a third world country is coming true. The sad thing is that many poor themselves, support this and cheer the policies and ideologies driving this on, all in the name of being against those evil socialist; even those who ironically now have a three to five fold greater wealth than the average Joe here.

[one...two...tree 2,762]

Walmart exists here because Repubs have allowed this monopoly to grow, at the expense of Americans. Who has the chance or resources to compete with them now? They have effectively created a bell. It would take the resources of Apple, Microsoft, Exxon, Shell and Texaco combined to have a shot. Find me one economics or capitalism 101 textbook that says a monopoly or duopoly is good for the market - for the consumer.

Just yesterday I read an article that the divide between the rich and poor in the US is now growing to unprecedented levels. Looks like my prediction that America is becoming a third world country is coming true. The sad thing is that many poor themselves, support this and cheer the policies and ideologies driving this on, all in the name of being against those evil socialist; even those who ironically now have a three to five fold greater wealth than the average Joe here.

That's what boggles the mind. Especially people here whose income is nowhere near 250g's or ever will be....like Paul and evil, for example.

[Heracles 417]

Evil was talking about small business the other day, yet less than 6% of Americans are self employed versus 12% of Aussies. Furthermore, in any Australia city, I can and did visit ma and pa butchers, delis, fruit stores, clothing, independent restaurants etc etc etc. When was the last time these existed in most American communities? I can count on one hand the number of such stores I have seen throughout America, across multiple states, in over five years.

How many towns now have closed stores? Care to find me the equivalent in countries that have policies opposite to those promoted by the lies of NJ Governor. Jump on streetview and find me these shopping strips with abandoned stores in AUS. Let alone some US equivalent ghetto community.

What sort of fools promote the policies and and ideologies that got the US here?

[^_^ 5,021]

Just yesterday I read an article that the divide between the rich and poor in the US is now growing to unprecedented levels. Looks like my prediction that America is becoming a third world country is coming true. The sad thing is that many poor themselves, support this and cheer the policies and ideologies driving this on ...

GOP hates public education. GOP likes tax cuts for the wealthy. GOP hates a social safety net for the poor. GOP outperforms the Democrats in the crucial white non-college educated demographic.

Put the dots together if you wish.

... people here whose income is nowhere near 250g's or ever will be....like Paul and evil, for example.

You shouldn't assume. 250K is really not all that tough.

[one...two...tree 2,762]

You shouldn't assume. 250K is really not all that tough.

For the regulars here on VJ, I doubt many, if any are even within that range.

[Heracles 417]

That's what boggles the mind. Especially people here whose income is nowhere near 250g's or ever will be....like Paul and evil, for example.

Dude, I saw a guy the other day, with a van worth about $200 with McCain and a set of Repub stickers. I asked my wife how the hell have they fooled people like this guy, to claim Repubs care about his prosperity. No way in the world would someone like that vote right wing in AUS - none.

You know I have been a righty since day one, yet no way in the world would I ever advocate for any policies that harm the country, in the name of me profiting. Let alone then have the nerve to say country first. Just the other day I switched on talk radio and heard Rush actually claim the Dems are killing the middle class, while Repub polices built it. Are Americans really that stupid? He went on to claim that taxing anyone earning over $250K is a tax on success.

How can people be that ignorant? He is essentially stating he deserves his tens of millions to talk ####### on a radio for a few hours a day, while the 97.5% of Americans who earn under that are somehow losers. So entertainers are guns who work hard, yet the single mother raising her children working three jobs is a loser.

Seriously, only in America could someone pull that off. No right winger would dare insult Australians like that and make such a ridiculous claim there. Then again we don't pay entertainer like radio hosts more than $200K there.

[^_^ 5,021]

For the regulars here on VJ, I doubt many, if any are even within that range.

I'm not but the (more than a few) people I know who are in that range didn't get there by supernatural means. They did what I'm doing, just more and harder. Like I said, it's not uncommon at all.

[Heracles 417]

You shouldn't assume. 250K is really not all that tough.

As of 2005, when the economy peaked, 98.5% of American households earned under $250K.

50% earned under $44K.

Edited October 4, 2010 by Heracles

[one...two...tree 2,762]

I'm not but the (more than a few) people I know who are in that range didn't get there by supernatural means. They did what I'm doing, just more and harder. Like I said, it's not uncommon at all.

I'd like to know what kind of occupations are paying over 200k that are common.

[^_^ 5,021]

As of 2005, when the economy peaked, 98.5% of American households earned under $250K.

50% earned under $44K.

I'm not disagreeing with the statistics. I'm merely pointing out that many people I know, regular and ordinary people like most of us here, make 250K+. The only difference between them and those of us who don't is a willingness to take risks with their money and/or a level of drive that would seriously cut into my VJ time.

[Heracles 417]

I'm not but the (more than a few) people I know who are in that range didn't get there by supernatural means. They did what I'm doing, just more and harder. Like I said, it's not uncommon at all.

I mean this with the utmost respect but Indians are a interesting group of workers and have taken live to work to the next four levels.

An Indian employee is a US corporations wet dream. Work work work. It's why the don't do well in countries like AUS, were people work to live. Over there, people have better things to to with their lives then give it all to some corporation, who does not give a ####### about them. Furthermore, realize you only have one life and need a reasonable balance.

[^_^ 5,021]

I'd like to know what kind of occupations are paying over 200k that are common.

250K is a household income figure, first of all. Two mid-level IT professionals are easily over 250K. Yes, their child care costs are killer but that's another story.

I know lots of couples like that. And IT-Accountant couples and a Banking-IT couple. All over 250K, easy.

And there's another category of 250K - some business owners. A colleague of mine dropped out of the workforce 3 years ago and opened up a little halal chinese take out place. She struggled for a while but tells me she's already approaching 200K for this year and expects to hit quarter-mill in the next 2-3 years.

BTW if you're wondering who talks about their money so freely.. Indian people do. Even when we're born here. It's cultural. I like it because it helps me know whether my employer is taking advantage of me or not. Unlike many other people, I don't work to help people or do good. I do it for the check.

I mean this with the utmost respect but Indians are a interesting group of workers and have taken live to work to the next four levels.

An Indian employee is a US corporations wet dream. Work work work. It's why the don't do well in countries like AUS, were people work to live. Over there, people have better things to to with their lives then give it all to some corporation, who does not give a ####### about them. Furthermore, realize you only have one life and need a reasonable balance.

Yeah, that's what I tell people - I work to live.

But I'm not delusional enough to not realize what that really means. It means I'm a lazy f###.

... realize you only have one life and need a reasonable balance.

Oh and if you're an Indian Hindu, you don't have only one life

[Heracles 417]

I'm not disagreeing with the statistics. I'm merely pointing out that many people I know, regular and ordinary people like most of us here, make 250K+. The only difference between them and those of us who don't is a willingness to take risks with their money and/or a level of drive that would seriously cut into my VJ time.

It's true, if I had to sacrifice my life to earn what I do, I would quit. I enjoy spending time with my family and friends, helping out with community [whenever I can] and traveling. No amount of money could take that from me - end of story.

Here is the kicker, most other first world countries share this view. They don't want walmarts or to keep up with the Jones, they want a great quality of life for the one life they have. Unfortunately for many here, living it up seems to go in the opposite direction of everyone else and means something like your third LCD, bigger SUV, Vegas or whoring it around.

Oh and if you're an Indian Hindu, you don't have only one life

touche touche.

Edited October 4, 2010 by Heracles

[mawilson 2,133]

That's the idea. The poor will quickly spend whatever money they have extra while the rich may have to hold off on that vacation to Malta.

Why would the poor have any extra money? Extending the tax breaks would preserve the status quo -

it wouldn't give the poor any "extra" money.

[The_Dude 1,142]

Dude, I saw a guy the other day, with a van worth about $200 with McCain and a set of Repub stickers. I asked my wife how the hell have they fooled people like this guy, to claim Repubs care about his prosperity. No way in the world would someone like that vote right wing in AUS - none.

There are a lot of people who vote like that. They will vote counter to their own economic situation for one of two reasons: First, because they still feel they can attain that level of prosperity, or second because they have latched onto some peripheral social cause. A family of 4 in North Carolina with a combined income of $38K, yet voting republican because " they are against abortion/gun control/gay marriage"