What annual income do YOU consider "wealthy"?

[Morgana]

It's not political for me at all or intended to be. I've paid taxes and heard the terms for over 50 years by all parties

Taxes are a political topic.
Lots of topics that affect people personally are political.
Lots of topics that affect people in both/all parties are political.
It may be a nonpartisan topic, but it's still a political topic.

And it carries all the same risks -- the reasons the forum has a "no politics outside the politics section" rule -- as any other political topic.
One of the risks is that the conversation could get hostile.
Another is that some people make political comments, and others hold back because they're trying to be good forum members, even though they intensely disagree. So the more aggressive or careless commenters end up setting the tone. It's a slippery slope.

There's nothing wrong with a topic being political, and there's nothing wrong with having a politics forum. It's just a different conversation and belongs in a different place.

There are things I don't talk about here because I know the conversation would go political in two minutes, even if I meant it in a different way. I don't feel bad about that, it's just part of being in a forum that has rules to keep it going.

 

[rruff]

It's not political for me at all or intended to be. I've paid taxes and heard the terms for over 50 years by all parties

You are right, neither party addresses this... just talk.

 

[INTJohn]

Actually “Wealth” has little to do with “net worth” or cash flow definitions and those who define Wealth simply by The Almighty Dollar imo are pathetic creatures indeed and such is the Murahkan Culture.

Wealth has more to do with Health and living a Healthy Lifestyle. Yeah, ya need some $$$ but Having great Health and living a Healthy Lifestyle is priceless and has more value than monetary riches.

What good is a 10 million $ net worth if you’re not healthy - physically; psychologically?
What good is a guaranteed million dollar a year contract if you’re not living a healthy lifestyle?
What good is clearing 500,000$/year CASH! If you have squandered your health away?

If one is Living a Healthy Lifestyle as well as experiencing their existence according to their definition in a positive & edifying manner they have all the Wealth that Life can impart.

As I See It
INTJohn

 

[Sky King]

In 100 years by TRUMP

 

[rruff]

Wealth has more to do with Health and living a Healthy Lifestyle.

Shhhh, Johnny what the hell!! For gawds sake, don't be spreading that around!

Just imagine what would happen if the PTB took that seriously. They'd be wanting to extract 50% of our accumulated heath and happiness every year, and keep it for themselves!

 

[Lorelei072]

The OP isn't being philosophical though... he wants to know about taxation. Income, estates, capital gains, etc.

Back when "America was great" all these taxes were much higher on the wealthy. Oddly, MAGA never mentions this.

Taxation is theft and our currency is Fiat - one of the greatest scams ever!

 

[Lorelei072]

Shhhh, Johnny what the hell!! For gawds sake, don't be spreading that around!

Just imagine what would happen if the PTB took that seriously. They'd be wanting to extract 50% of our accumulated heath and happiness every year, and keep it for themselves!

They already extract 98%. Ever take account high-medical-intervention adults and how many kids are on anxiety medication?

 

[Lorelei072]

How does borrowing on what you already own keep you from being taxed? It frees up capital but adds closing costs, fees & debt you pay interest on. You don't own anything till it's paid for.

Even after paying in full real estate is taxed (making you a tenant), vehicles are tagged as government property, cash is subject to civil asset forfeiture, and policing is an English institution not written into the Constitution.

 

[Sky King]

People are only free when they're debt free.

 

[Dirtrider]

People are only free when they're debt free.

Except your house/ properties If you don't pay the taxes and your vehicles if you don't pay your registration

 

[Sky King]

Except your house/ properties If you don't pay the taxes and your vehicles if you don't pay your registration

I consider those fees and not debt like utility bills, vehicle fuel, maintenance,etc. Debt is a noose you willfully put your head in.

 

[bullfrog !]

I consider those fees and not debt like utility bills, vehicle fuel, maintenance,etc. Debt is a noose you willfully put your head in.

But fees that must be paid which you have little control over. Many have lost their houses due to rising insurance and tax rates on rising property evaluations. You maybe free but you won’t be in a sticks and bricks house!

 

[rruff]

Even after paying in full real estate is taxed (making you a tenant), vehicles are tagged as government property, cash is subject to civil asset forfeiture, and policing is an English institution not written into the Constitution.

There are places in the world that have no government; you might like to check them out. Somalia hasn't had one since 1991! Must be a paradise...

 

[rruff]

But fees that must be paid which you have little control over. Many have lost their houses due to rising insurance and tax rates on rising property evaluations. You maybe free but you won’t be in a sticks and bricks house!

Anybody with "rising property values" should be doing ok. If they get in a financial bind and are unable to pay property tax that is keyed to this rising value, then a bank will be happy to loan them the money. Or, if they just want to say "F it", then they can sell their house and pocket the cash.

Insurance is another animal and you need this if you still have a loan, but that isn't a government thing.

 

[bullfrog !]

Anybody with "rising property values" should be doing ok. If they get in a financial bind and are unable to pay property tax that is keyed to this rising value, then a bank will be happy to loan them the money. Or, if they just want to say "F it", then they can sell their house and pocket the cash.

Insurance is another animal and you need this if you still have a loan, but that isn't a government thing.

I just remember we had a member that had property on the Gulf coast in an area that got “gentrified” and ended up doing van life because he couldn’t afford the huge tax increases.

 

[rruff]

People say a lot of things regarding cause and effect.