Effect of Bush Tax Cuts

Isn’t this just the math?

If the tax rate was 15% and you had a population of 2 people, one who makes $1M and one who makes $30,000, that would be $154,000 of collected taxes, with the rich guy paying 97% of all taxes.

Despite the fact that the “rich dude” is carrying 97% of the burden, I am quite sure that the regular Joe is going to miss his $4,500 a lot.

[quote]ZEB wrote:
Did I read that right BB? The top 20% income earners pay 82% of all taxes? And that is after the Bush tax cuts!

Will someone explain to me why they think that this is fair?[/quote]

[quote]BigCorey75 wrote:

oh yeah and as far as working two jobs, going to my school and playing football its impossible to work two jobs enough to get an income thats worth anything. I would if i could.
[/quote]

Just one little comment here: You might consider not playing Football. When I went to College the Coach wanted me to Wrestle as I had a decent record on my High School team (not great). I turned him down because I did have to work multiple jobs. Hey…I survived, you will too!

Keep your chin up and go for it!

(I just had to talk about Chin-ups)

[quote]John K wrote:
I really doubt that any THREE part-time jobs would earn enough money to pay for a school with tuition over $30,000.
[/quote]

I think someone is pulling numbers out of the air. Where in the U.S. is TUITION 30K/yr?

Aside from that - you think you should be entitled to go to that school without having to pay for it?

I’ll say it again. Higher education is not a right. If you can’t afford a 30K school - don’t go there. Go to the one you can afford. Let me rephrase that - go to the school that represents how hard you are willing to work to get to college.

Quit whining and get to work.

[quote]John K wrote:
Isn’t this just the math?

If the tax rate was 15% and you had a population of 2 people, one who makes $1M and one who makes $30,000, that would be $154,000 of collected taxes, with the rich guy paying 97% of all taxes.

Despite the fact that the “rich dude” is carrying 97% of the burden, I am quite sure that the regular Joe is going to miss his $4,500 a lot.

ZEB wrote:
Did I read that right BB? The top 20% income earners pay 82% of all taxes? And that is after the Bush tax cuts!

Will someone explain to me why they think that this is fair?

[/quote]

The more you make the higher your income tax bracket. That is exactly what’s wrong with the system!

How about we reward people for making more? Okay, don’t reward them, but don’t punish them either!

I worked three jobs at one time. Slept about three or four hours a day for about two years.

[quote]ZEB wrote:
I know it seems difficult especially when you are in the middle of it. However, do what I did to get through College. I worked two jobs and slept when I could. It was not easy, but I like to think that along with my diploma I also gained other things doing it this way…Give it shot!

[/quote]

A couple of quick hits.

  1. “No Child Left Behind” isn’t applicable to adults.

  2. I can’t think of a single public college or university with a tuition even approaching $30K a year.

  3. Federal money thrown at the university system DRIVES the inflation, it doesn’t help it.

Thanks BB! Great article, and it touches on something that was bugging the hell out of me this morning.

I like to listen to National Public Radio (aka National Democratic Radio), as I find it quite comical. However, this morning, they were making claims that this surge in tax revenue was an “unforeseen” benefit of Bush’s tax cuts.

WHAT-THE F*$@-EVER!

This is exactly what Bush preached would happen with his tax cuts, and the liberal media is already calling this surge “unforeseen”. Give me a break people. The fact is, BUSH’S TAX CUTS ARE WORKING AS EXPECTED.

End of story.

[quote]ZEB wrote:
Marmadogg wrote:
WSJ editorial page is as credible as the NY Times editorial page.

Not.

It’s far more credible!

[/quote]
Uhh…no. They have no credibility, often contradicting there own news pages.

[quote]rainjack wrote:
I think someone is pulling numbers out of the air. Where in the U.S. is TUITION 30K/yr?
[/quote]
Then you have no idea. There are three pvt schools within three miles of my house (all religious schools)–all of which have tuitions over 30k/yr. Remember, pvt schools recieve no subsidy from the gov’t.

Albeit, my entire tuition from freshman to senior was a that much–Wish I had had the G.I. bill then. I’,m still paying back those awful student loans.

[quote]LIFTICVSMAXIMVS wrote:
rainjack wrote:
I think someone is pulling numbers out of the air. Where in the U.S. is TUITION 30K/yr?

Then you have no idea. There are three pvt schools within three miles of my house (all religious schools)–all of which have tuitions over 30k/yr. Remember, pvt schools recieve no subsidy from the gov’t.

Albeit, my entire tuition from freshman to senior was a that much–Wish I had had the G.I. bill then. I’,m still paying back those awful student loans.[/quote]

I fear that you are combining room and board in that 30K number. Please list a website, or reference that shows a school costing $2000 per semester hour for undergraduate courses. I am assuming a 15 hour course load which is not out of line.

I got my MBA from a private University, and they do recieve federal monies.

Anyhow - I agree with you on the student loans. I have it fairly easy in that I am only on the hook for 52K, but it still sucks.

Tuition is going up, even at my alma mater UT

http://money.cnn.com/2004/10/21/pf/college/expensive_colleges/

[quote]BigCorey75 wrote:

R U trying to say that because im bitching about a way to help pay for school that im crying about working hard? BS. [/quote]

No, I’m saying that judging by your grammar, you must be the “Child Who-Was-Left-Behind”…just teasing…

What I am saying (echoing)is that you feel that you’re entitled to the government (i.e. us who pay taxes) to a higher education at a private university. That is “B.S.”. We don’t owe you anything. Just like anything worth having in life, you’ve gotta a find a way and work for it.

I worked 2 jobs, found 2 scholarships on the internet, graduated with honors, blah, blah, all while being able to hit the gym and maintain a healthy social life. I firmly believe it is because of this experience that I arrived where I am, which is a very good place to be.

Geez, I cannot stand the entitlement attitude. It’s definitely not a T-Man trait.

[quote]rainjack wrote:
I fear that you are combining room and board in that 30K number. Please list a website, or reference that shows a school costing $2000 per semester hour for undergraduate courses. I am assuming a 15 hour course load which is not out of line.

I got my MBA from a private University, and they do recieve federal monies.

Anyhow - I agree with you on the student loans. I have it fairly easy in that I am only on the hook for 52K, but it still sucks.
[/quote]
Yes I do include room and board because it still has to be paid for and the university is the one sending the bill. Also it doesn’t include insurance and assosciation fees and transportation fees, etc…it adds up quickly.

I have a sister-in-law who is now considering dropping out because she cannot pay the $4000 she owes from the previous two semester and she cannot get any more loans because she only works part-time (full-time during the summer) and therefore cannot qualify and she has already used up her benefits for the 04-05 year. To think that $4000 dollars can stand in your way of a getting an education is pretty disheartening.

Anyway yeah it costs more than 30K atthis school:

http://www.stthomas.edu/financialservices/undergraduate/freshmen/costs.asp

and this one:
http://www.hamline.edu/hamline_info/offices_services/student_relations/sas/PDF/04_05_fin_policies_procedures.pdf

and this one:
http://www.macalester.edu/academic/catalog/aefa2.html

[quote]BostonBarrister wrote:
3) Federal money thrown at the university system DRIVES the inflation, it doesn’t help it.
[/quote]
How do federal subsidies drive inflation–I am assuming you mean internally within the school system? I cannot see how this could be and would like to hear an explanation.

Federal money helps off-set the cost of tuition and also provides grants to major research so that universities may turn a profit through patents, etc–not to mention the prestige it brings to the program, university, and state–all which should help revenue in the long run.

please qualify this satement with an explanation.

I agree, who owe’s you anything? There are kids right now who were born into money and have never had the option of having to hold down one job much less three.

It’s very hard for them to balance partying five nights a week and driving their BMW to class every day and then pass with a C- minus average. All while having to make that party in the Hamptons over the weekend.

So, see kid things are tough all over! Quit your whining and bitching and go get that job at Mickey D’s.

[quote]LIFTICVSMAXIMVS wrote:
Yes I do include room and board because it still has to be paid for and the university is the one sending the bill. Also it doesn’t include insurance and assosciation fees and transportation fees, etc…it adds up quickly.

I have a sister-in-law who is now considering dropping out because she cannot pay the $4000 she owes from the previous two semester and she cannot get any more loans because she only works part-time (full-time during the summer) and therefore cannot qualify and she has already used up her benefits for the 04-05 year. To think that $4000 dollars can stand in your way of a getting an education is pretty disheartening.
[/quote]

I sgree hat throwing room and board on top of tuition can very quickly run the bill up over 30K. You said tuition. There’s a difference.

I’m not an expert on college life - other than it took me 8 years to pay my way through to a B.S. degree. But if the desire is ther to get an education, there are ways to get it. It might not be at a private school, or an Ivy League school. But where there is a true will, there is a way. I do know that to be true because I lived it.

ADDENDUM: I should clarify that my original statement wasn’t as specific as it should have been – I was referencing government money specifically directed on a large scale to tuition-assistance programs.


It’s push inflation. Generally, with a market for a commodity, raising the price would create a market response of lessened consumption of the good. How much less would depend on the elasticity of the good and the level of the price increase.

If the government steps in and creates a big pool of money available solely for the purchase of a single good, so that producers can raise their costs without lowering the consumption of their good, the producers will raise that price. So the government makes a bunch of money available via grants and below-market-interest loans, which can only be used toward education expenses. It’s akin to if the government created a huge fund of money people could use only to purchase gas (although gas is probably a lot more inelastic than education).

[quote]Elkhntr1 wrote:
I agree, who owe’s you anything? There are kids right now who were born into money and have never had the option of having to hold down one job much less three.

It’s very hard for them to balance partying five nights a week and driving their BMW to class every day and then pass with a C- minus average. All while having to make that party in the Hamptons over the weekend.

So, see kid things are tough all over! Quit your whining and bitching and go get that job at Mickey D’s.
[/quote]
Ha! I was waiting for this post…
I often joke that the college kids who live in my neighborhood drive better cars than the professionals who have already graduated…me included.

They are also spending their hard “earned” money on copious amounts of beer and BBQ. I love the weekend in this neighborhood because I can walk down the street and go to any of the various keggers and the kids are so quick to show off their wealth they could care less that I’m a 30 something asst. prof. who makes less than half their parents and still owes his alma mater about three semesters worth of their tuition.

And lets face it rich kids do have it hard…gotta figure out how to make it with mommy and daddy paying for everything. Not to say that they don’t deserve the opportunity to go to school like anyone esle just because their parents are well-off just that they won’t have it nearly as hard as the average person nor have to struggle to live after they are done. Afterall Bush’s taxcut to mommy and daddyt did finace their education. I think I paid for two of my books with that break.

[quote]rainjack wrote:
I sgree hat throwing room and board on top of tuition can very quickly run the bill up over 30K. You said tuition. There’s a difference.

I’m not an expert on college life - other than it took me 8 years to pay my way through to a B.S. degree. But if the desire is ther to get an education, there are ways to get it. It might not be at a private school, or an Ivy League school. But where there is a true will, there is a way. I do know that to be true because I lived it.
[/quote]
Okay you got me on a technicality. We can argue semantics all day the fact remains…you cannot go to school without eating or sleeping in a bed though I’m sure few have tried. I heard stories from my dad who finished up his M.S. with nothing and how he couldn’t work because of school and how he nearly starved because he couldn’t afford groceries. Needless to say, things were going to be different for me.

I too returned to finish an advanced degree after a brief stint in the military but had the benefit of having it paid for in part by the G.I. Bill and assistanceships. Not all can get as lucky. I do call it luck because I made the right choices; choices that I didn’t know at the time would be beneficial to my future.

[quote]JPBear wrote:
BigCorey75:

I don’t know who is feeding you this entitlement garbage, but I suggest you get over it if you want to get the most out of life. You need to learn what your real rights are as an American. They are few but sacred, and if you embrace them they will take you further than any of these imaginary rights will (such as the right to a college education). [/quote]

I love it when non-Americans speak about Americans rights.