Forums: Income Opportunities

Legalized RobberyCollecting more taxes than is absolutely necessary is legalized robbery. ~ Calvin Coolidge By: Larry Walker The question of the day: Why is making $250,000 a year suddenly considered wealthy? The Obama's made $5.5 million last year. Is that wealthy?Contrary to popular belief, $250,000 in 2010 had the same buying power as $20,722 in 1926. Annual inflation over this period was 3.01%. An income of $250,000, adjusted for inflation, would have placed a taxpayer in an 11% tax bracket in 1926. In order to have been considered in the top tax bracket back then, in today's dollars, would have...

By at least one measure, government is playing an unprecedented role in the economy: In recent months, more than 30 cents of every dollar in personal income came directly from the government, new Commerce Department data show. That’s equal to about $3.8 trillion of $12.5 trillion in total personal income on an annualized basis.

The media is ripe with hyperbolic aggrandizement of the growing gap between the rich and the poor. The left has made it a false flag to rally troops for class warfare which is neither healthy, productive, or beneficial for anyone involved. If this offends you or sounds counter-intuitive then I encourage you to read on and find a fault on merit rather than tired of mantras like, “the wealthy don't work for their money” or “the rich get richer and the poor get poorer.” These are examples of bumper sticker economics that aren't substantiated by fact or reason. Consider first...

First, a broad look at America's situation Unemployment Rate: 9.5% The economy: Agriculture (1.2% of GDP), Industry (21.9% of GDP), Services (76.9% of GDP) Education: 27.5% of the adult population has a Bachelor's degree or higher. Now, the Top 10 States For Jobs

Poll Do you think a state income tax increase will happen within the next year? Yes. There's no other way to dig the state out of its financial hole. No. The politicians will find a way to avoid it. or view results

Directions for Misguided Democrats by: Larry Walker, Jr.In my last blog post, 2011 Tax Increase: A Reality Check, I attempted to point out how the Bush tax cuts applied to all Americans at every level of income, and that with their expiration at the end of 2010, income taxes will rise across the board. Although valid enough to ignite renewed interest, I now want to expand on this in a more technical manner with examples.The following table compares the pending change in tax rates (assuming no change for inflation).As evident with a quick glance, those in lower income levels will...

Most of the current problems facing America stem directly from the failure of our elected representatives to follow the Constitution. Much of what the Tea Party activists are demanding, often without explicitly saying so, is a return to the principles and procedures found in the Constitution. Many of those running for office are venting about excessive spending, deficits, taxation, regulation and so forth, but are struggling to say what they are for and what they would actually work to accomplish once they are elected. To deal with this problem, candidates for office should state that, if elected, they will have...

A huge wealth gap has opened up between black and white people in the US over the past quarter of a century – a difference sufficient to put two children through university – because of racial discrimination and economic policies that favour the affluent.A typical white family is now five times richer than its African-American counterpart of the same class, according to a report released today by Brandeis University in Massachusetts.White families typically have assets worth $100,000 (£69,000), up from $22,000 in the mid-1980s. African-American families' assets stand at just $5,000, up from around $2,000.A quarter of black families have...