We are the highest taxed nation-Donald Trump

[Gilligan]

A "hypothetical". Let's just say..for the sake of argument and example...a small engineering firm, an "S" corporation, in sothin Merlin grosses 2 million a year. Let's say they make a modest 15% net profit on those sales. That's $300,000. Further, let's say the owner of the company also owns the building that the company operates in and thus is paid a - paltry and below average in this case - $25,000 in annual lease payments for a nearly 5000 sf engineering and production facility. And finally..because Uncle Same frowns mightily on him doing otherwise..said owner must pay himself a "fair and representative" salary over the course of any year. $100,000 only barely avoids the inquiry known as "The Business Audit". Of course DCAA has their fingers in all this too...because said company also works on gummint contracts.

So..kiddies..let's do the math...clickety clickety ching ching..well..waddya know??!! The owner of said company has a gross income on his 1040 of $425,000. GTFO! Not only does that put him in some of the highest tax brackets and make him a permanent member of the "Top 1%"...it means he has a tax liability..Fed and state..that approaches 100 grand! I'd like to know...how many people like Sappy and Bacon pay 100 grand of taxes on 100 grand of gross personal income.

 

[Sapidus]

It's quite easy and common to be in the top 1% right here in the US if you are a business owner of anything other than a "C" corporation. All business income "passed through" to the owner's personal income tax return. $300,00 per year or whatever the current "top 1%" income threshold is a relatively small number, one that is well exceeded by hundreds of thousands of small businesses throughout the US.

Again..all stuff that Sappy his Antifa crew are oblivious of.

Yeah. I'm just doubting a douche bag who spends ll his time on a tiny community forum boasting about his intelligence is in the top 1%. Btw is MD it's over $421,000 a year.

And I haven't forgotten people on here know you in real life because you constantly bring it up. Which makes it even more impossible to believe the anger and filth you spew and then look some of these people in the eye

 

[Gilligan]

Why would I be jealous of you having a huge ego and needing to brag about #### that even if true ain't all that impressive?

I do just fine for myself and don't need to brag about it, particularly to people I don't know.

You don't matter. You've failed at life.

I have not.

 

[Gilligan]

Yeah. I'm just doubting a douche bag who spends ll his time on a tiny community forum boasting about his intelligence is in the top 1%. Btw is MD it's over $421,000 a year.

And I haven't forgotten people on here know you in real life because you constantly bring it up. Which makes it even more impossible to believe the anger and filth you spew and then look some of these people in the eye

See last post, moron. and make a bunch more posts in front of people that know me and my business. G'head..yr just that stupid that you will.

And everyone that knows me has already weighed on what a worm you are, so there is that.

Meanwhile...you can tell more lies. You do seem to enjoy that.

 

[Gilligan]

And I haven't forgotten people on here know you in real life because you constantly bring it up.

And yet you fail to realize how stupid that makes you....

Nobody knows you. And nobody would want to. Well..maybe Rumprider...

 

[PeoplesElbow]

Yeah. I'm just doubting a douche bag who spends ll his time on a tiny community forum boasting about his intelligence is in the top 1%. Btw is MD it's over $421,000 a year.

To be in the the top 1% of earners in the US, doesn't matter whether it is Maryland or Mississippi....

 

[Midnightrider]

You don't matter. You've failed at life.

I have not.

You got some 'real money' you want to bet on that Kreskin?

 

[seven]

And everyone that knows me has already weighed on what a worm you are, so there is that.

Gotta Link, Tiny?

I don't see anyone butting in saying how great of a guy you are.

Legend!

 

[seven]

Gilligan aka Tiny

https://thoughtcatalog.com/anonymous/2014/05/8-signs-a-guy-suffers-from-sps-small-penis-syndrome/

 

[Merlin99]

Is our President stupid or deliberately trying to mislead his uneducated voters?

This morning Trump tweeted: "We are the highest taxed nation in the world - that will change." ( He has repeatedly said this)
Baloney. The most meaningful measure is taxes paid as a percentage of GDP. As you can see from the graph below, the U.S. has the 4th lowest taxes of any major economy. (Only South Korea, Chile, and Mexico ranking lower.)
And the wealthiest 1 percent in the U.S. pay the lowest taxes as a percent of their income and total wealth of any country anywhere – and lower than they’ve ever paid even in the U.S.
Once again, Trump and the Republicans are dealing with a non-problem, while ignoring the biggest problems.

Why would it be measured as a percentage of GDP instead of as a percentage of annual income? Basing it on GDP just allows you to subtract the bottom feeders.

 

[Merlin99]

Yeah. I'm just doubting a douche bag who spends ll his time on a tiny community forum boasting about his intelligence is in the top 1%. Btw is MD it's over $421,000 a year.

And I haven't forgotten people on here know you in real life because you constantly bring it up. Which makes it even more impossible to believe the anger and filth you spew and then look some of these people in the eye

Why did you change that from the top 1% of the US, to the top 1% of MD? It's almost like you found out that MD's top 1% is considerably higher than the US average. It's almost like you're covering up a screw up in your math.

 

[Sapidus]

You don't matter. You've failed at life.

I have not.

Haha.

Classic. Loser response

 

[Sapidus]

Why did you change that from the top 1% of the US, to the top 1% of MD? It's almost like you found out that MD's top 1% is considerably higher than the US average. It's almost like you're covering up a screw up in your math.

Because this is a forum about MD and this idiot is bragging about his personal income. Therefore we shouldn't compare him with someone who lives in Alabama or Manhattan.

 

[GURPS]

Because this is a forum about MD and this idiot is bragging about his personal income. Therefore I shouldn't compare him with someone who lives in Alabama or Manhattan.

changed that for ya skippy ........ you are always moving the goal posts when you start losing

and YOU started this discussion talking about 1%ers


and you have yet to go back and clarify WHICH taxes YOU are bemoaning

 

[Gilligan]

Gotta Link, Tiny?

I don't see anyone butting in saying how great of a guy you are.

Legend!

I see another failure crawled out from under their rock...lmao!

 

[Gilligan]

Because this is a forum about MD and this idiot is bragging about his personal income. Therefore we shouldn't compare him with someone who lives in Alabama or Manhattan.

Sure shut your lies off eh? You didn't even know that corporations even existed that do not pay tax on income.

I'm sure you'll be posting more of them soon though....we can count on that.

 

[PeoplesElbow]

Because this is a forum about MD and this idiot is bragging about his personal income. Therefore we shouldn't compare him with someone who lives in Alabama or Manhattan.

Actually is it about Southern Maryland, so why not break it down that far, I tell you why because once you get all of the DC area counties out of the mix the number is lower.

 

[Gilligan]

Actually is it about Southern Maryland, so why not break it down that far, I tell you why because once you get all of the DC area counties out of the mix the number is lower.

We could simply use the national average ....

 

[PeoplesElbow]

We could simply use the national average ....

That was my point back in post 26, then he/she decided since the topic of this forum was important I thought i would point out that this forum isn't about Maryland but Southern Maryland. He/She is reaching, doubt we will see them back in this thread.

 

[Gilligan]

I hope that Trump's idea to tax pass-through income at 15% is adopted. However, I would expect that the IRS would then be paying even more attention to owner salaries. As it is now, we often try to minimize salaries paid to ourselves to minimize SS, Medicare etc taxes; but minimizing your salary too much while posting profits will get you in hot water. If there is added to that incentive one for a much lower tax rate, you can bet the IRS will be paying even closer attention to that detail.