I'm going to go ahead and get on the Obama bandwagon.

[batonrougesooner]

Well, maybe not the bandwagon, but I'm going to go ahead and support him in a general sense.

I've been pretty staunchly against him during the election season because from what I heard from him makes me think he is a closet socialist.

However, I have the integrity to admit that if it wasn't for his tax plans, I wouldn't be so strongly opposed to him as I have been during the election season. I admit, I'm one of the "lucky" (their words) ones who earns well over 250k per year and I don't think it is fair that I should give up an extra 3k or more per month (including removing the cap on social secruity) to the government just to literally give it away to someone else. I know it's fashionable to hate the so called "rich" (which I'm not...believe me...student loans). I'm not bragging, I'm just stating where I'm coming from. I've been an enlisted military guy, I've been a waiter, I've been a TA in college. I know what it is like to make barely enough to get by. I get it. That's why I've worked to achieve what I have.

Anyway, I've come to the realization that I have no choice but to support him. He may have campaigned on my back and may have promised to sink me while lifting others, but I also understand that he is going to be my President.

I think he is an incredibly intelligent man who has genuinely galvanized a majority of the electorate behind him.

Therefore, I can only wait and see. I can only trust that he is going to put the country first and govern in a sense of goodfaith. I trust that he is going to put real solutions forward that lift all boats (to borrow a phrase) and not just "spread the wealth" to such an extent that we all end up sinking.

I could go on, but my point is that I'm going to support him and remain cautiously optimistic. I'm also going to remain optimistic that the Republican party pulls their collective head out of their ***.

There, I said it. It was hard.

[Fraggle145]

Well said.

[King Crimson]

strangely rational....but posted after midnight on a Friday. :texan:

[batonrougesooner]

strangely rational....but posted after midnight on a Friday. :texan:


Scotch lowers my inhibitions.

[Fraggle145]

Scotch lowers my inhibitions.

http://punditkitchen.files.wordpress.com/2008/03/ilovescotch1284907273596875002.jpg


:D

[King Crimson]

Scotch lowers my inhibitions.

well, if you've been a TA in college....outside huffing paint thinner under a highway bridge, you've seen the lowest of paychecks. tru dat.

[Fraggle145]

well, if you've been a TA in college....outside huffing paint thinner under a highway bridge, you've seen the lowest of paychecks. tru dat.

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[batonrougesooner]

I love me some Metallica.

Yes, it is sad but true.

[Fraggle145]

My personal favorite.

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[Rogue]

BRS,

Good on you for your success and for your giving BO a chance.
This is sort of where I was in 2000. 2004, not so much. The part about giving the guy I didn't vote for a chance, not the part about making a quarter mil a year.

-Rogue

[Frozen Sooner]

Plenty of room up here.

[soonerscuba]

I'm glad that you are giving him a chance, but I would like to point out that you make five times the median household income, and are placed in the top 1.5% of wage earners, congrats, you are rich by any definition.

[jkjsooner]

I'm glad that you are giving him a chance, but I would like to point out that you make five times the median household income, and are placed in the top 1.5% of wage earners, congrats, you are rich by any definition.

I disagree with a blanket statement like this. There are many many reason why a person earning this much might not be remotely rich.

Some are:

1. Many who make this much money do so because of the very expensive education they've received. They have tremendous student loans and in some cases can reduce your real income by a lot. You can only deduct the interest of these loans not the full payment so the government does not consider the lower/real income. In addition, many people end up having to get loans that are not classified as student loans and are thus not deductable.

2. In many cases (batonrouge excluded) you have to live in very very expensive areas to achieve this type of income. A person in NYC might have to pay $4k or $5k for an identical apartment as one would get in Oklahoma for well under $1k.

3. Some jobs require you to spend a lot of money just to have the job. It might be non-reimbursable travel expenses, wardrobe requirements, etc.

I would firmly support a income deduction for the full cost of a student loan. That would go a long ways to solving issue #1.

Issue #2 is fundamentally unfair, but there is just no way to solve it fairly. It would never be possible to have a tax rate proportional to the cost of living in your area. Can you imagine how that would be received in Oklahoma - being forced to pay higher taxes because the cost of living (and income) is lower there.

[Frozen Sooner]

Point of fact:

Student loan interest is not deductible at all for someone making $250K per year, and is not deductible for anyone after six years of repayment.

Anyhow, while batonrouge certainly is affluent, high income doesn't automatically make anyone rich. You never know-he could have a massive coke habit, which would eat up $250k per year pretty easily.

[soonerscuba]

I care little of circumstance or related expenditure, 11-13k/month is a lot, and you didn't seriously use the Patrick Ewing wealth defense, did you?

[Frozen Sooner]

See, the thing is that you're confusing cash flow with cash accumulation.

[soonerscuba]

See, the thing is that you're confusing cash flow with cash accumulation.How do you mean?

[Frozen Sooner]

"Rich" and "Wealthy" mean that you have a high net worth.

This does not necessarily follow from having a high positive cash flow.

Example:

Someone who has a net worth of a several million dollars is rich, whether they're someone who makes $500k per year or someone who has no income and is living off winning the lottery a few years back or even an inheritance.

Someone who has a net worth of negative several million dollars is not rich, no matter how much money they make.