Pacquiao paying 39.6 percent in taxes?!

[edgarg]

jobs are only created when there is demand. there's no demand in the american economy because the average american has no money to spend. giving all the money to the rich didn't work and it will never work. they are sitting on 2 trillian in capital and twiddling their thumbs. this is why wealth disparity is such a big issue. adam smith himself was against the rich consolidating all the wealth, but who cares what he says right? what did he know about free economies? nothing! he was just a flo-mo!

I don't confuse "desire" with "demand". There's ALWAYS desire, but, when things are priced out of the market the demand drops. An enormous quantity of American jobs went overseas because many unions priced themselves out of the labour market. Companies were either faced with upping their prices, and becoming less competitive, eventual banruptcy or a move overseas to a cheaper labour market, which most did. The result was that America became flooded with cheap goods, selling for less than it cost to make them in the States. And America, from being the greatest manufacturing country in history, became a major service country. When I was a kid, America used to CONSUME about 90% of it's total output itself....... In fact i believe that I actually read 95%.

Companies make money because people have mistaken their "WANTS" for "NEEDS". And the habit has become too deeply ingrained for them to reform, and only buy what they can afford. Nobody is forcing them to buy, except through advertising, or envy. The guy who buys $5-6 worth of coffee daily doesn't seem to realise how long he has to work to SAVE the $2000 a year it costs him. Not "earn" it, but "save" it. As for cigarettes.... and other things that people "fancy" and go into debt for..... A guy has to be really unintelligent to go into debt for something he doesn't absolutely need. But it's from people like that, the millions are made.

You should see the amount of brainstorming that goes into a saving of, say $10 on the manufacture of a component of a $20,000 car.

I don't profess to know anything about economics other than what I've picked up by reading or listening, but my son is an economist.

[edgarg]

The people/corporations with unimaginable wealth have hurt the economy, I don't see how that can even be argued. First of all, tax rates on the top 1% have been at historic lows for a while. Yes, the rich are paying more of their income in taxes...but that's because their incomes have skyrocketed in the past 10 years. The rates themselves are still low in comparison to our history.

We can argue over these new taxes or whatever, but there are massive corporations that profit billions of dollars a year and have no tax at all. They manipulate the system, hide trillions all over the place and, by avoiding taxes, deprive the rest of us from that part of the economy. 10% of the country owns about 60-70% of the wealth, does that sound like a recipe for success...us at each others throats over the remaining 30%? It's no wonder why racism, classism, and other ism's increase during recessions - when people have the perception that the other guy is taking food off their plate these tensions rise...in social psychology it's called Realistic Conflict Theory and it plays out all the time these days. It doesn't have to be like that.

In what era in US history have the corporations and banks ever shown that they would happily contribute more to society if only all their transactions were free, no taxes, no regulation? They have always been at odds with the government and will always, for whatever reason, have people fighting for their "oppression." They get all the protections of the laws, use it acquire everything they can, tie up and influence the courts with all their lawyers, but don't want to pay into a society that offers them the best opportunity for success in the first place.

Sorry for the flood below, but i think this is the easiest way to settle the matter... it is an extract from Forbes.


Let’s look at the numbers. Using data from the Internal Revenue Service in 2009, the top 1% of earners, including individuals with incomes of $343,927 or greater, represented 16.9% of all income and paid 36.7% of all federal taxes. Their average tax rate was 24.01%. The top 0.1% who had incomes of $1,432,890 or greater represented 7.8% of all income and paid 17.11% of all taxes. Their average rate was 24.3%.

If we assume that a secretary’s adjusted gross income falls between $32,396 and $66,193 in 2009, the average tax rate for that income group (which represents individuals in the top 25%-50% of all earners) was 5.56%. (The entire group of earners between the top 25%-top 50% earned 20.7% of all income and paid 11.0% of all Federal income taxes.

[straightleft]

LMAO at these butthurt floydiots crying because Pac doesn't want to pay this too much taxes.

[edgarg]

jobs are only created when there is demand. there's no demand in the american economy because the average american has no money to spend. giving all the money to the rich didn't work and it will never work. they are sitting on 2 trillian in capital and twiddling their thumbs. this is why wealth disparity is such a big issue. adam smith himself was against the rich consolidating all the wealth, but who cares what he says right? what did he know about free economies? nothing! he was just a flo-mo!

It's been shown time after time after time, that if and when all the wealth is divided up, that eventually the wealth will accumulate to those who had it originally (if they're still alive) or at least to the same sector. ******ity cannot be regulated perfectly. We see this every single day. Even with such instant news communication people make the same mistakes all the time. Barnum was exactly right when he said there's a sucker born every minute. These days, it's every second.

It seems that Barnum didn't say it, a competitor named Hannum did. They each had a "fossilized" "Cardiff Giant" and Barnum called the other one a fake. Hannum sued him, and then the rock sculptor confessed. So Barnum was found bot guilty.

At least so the story goes. But is it coincidence that one is named Barnum and the other Hannum???

[PACnPBFsuck]

Pretty easy for Pacquiao, just go fight in Germany and tell us the big difference in pay he'll get.

[Ray*]

I thought it would be 50%..

[Hougigo]

I thought it would be 50%..

Pretty much is 50 percent with both taxes he's paying

[Rapid Counter]

I guess Pac is a "Bank Is Half Empty" kinda guy

[JustinFloyd]

so dont be surprise that everything around you is made in china! lol! who will invest in a country with this huge TAX? If I'm one of that 2% millionaire, I will just move my business away in the US and that's may be happening now in boxing... Remember the Jeff Mayweather's statement last week? he even mention Dubai...

[tredh]

JESUS CHRIST SO IGNORANT

MORE TAXES , taxing them more does nothing for us !
here an example
the owner of my company a millionaire

had his taxes raised substantially, forcing him to lay off a hand full of people who are now collecting unemployment being paid for by his extra taxes

tell me how this is good for our economy

tell me how manny pacquiao or floyd mayweather fighting elshwere is good for our economy , forget your hatred of the rich and think about the millions of people employed by the wealthy that are being effected even more so

The example you just gave is why people are complaining about the rich and wealthy and calling them greedy which they are. So the tax rates are up so instead of clearing 10Mill this year with the new tax rates your boss clears 7Mill and he can't have that. So instead he lays people off and cripples whole ****ing families to save a extra 3Mill and keep clearing that 10Mill. You say that is not being greedy? LLS