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Title: Tea Party Rep.: Only $400,000 Left After ‘I Feed My Family’
Source:
RAWSTORY
URL Source: http://www.rawstory.com/rawreplay/2 ... 0-left-after-i-feed-my-family/
Published: Sep 19, 2011
Author: DAVID EDWARDS
Post Date: 2011-09-19 15:24:59 by Brian S
Keywords: None
Views: 7122
Comments: 20
Tea party Rep. John Fleming (R-LA) used himself as an example Monday while arguing against President Barack Obama’s plan to make sure millionaires pay about the same tax rate as the people that work for them. “In my own case, I own LLCs,” Fleming told MSNBC’s Chris Jansing. “The income flows to my personal tax return and whatever is left over after taxes are paid, I feed my family on the one hand and on the other hand, I reinvest in my business.” “With all due respect, The Wall Street Journal estimated that your businesses, which I believe are Subway sandwich shops and UPS stores — very successful — brought you last year, over $6 million,” Jansing noted. “Yeah, that’s before you pay 500 employees, you pay rent, you pay equipment and food,” Fleming agreed. “Since my net income — and again, that’s the individual rate that I told you about — the amount that I have to reinvest in my business and feed my family is more like $600,000 of that $6.3 million. And so by the time I feed my family, I have maybe $400,000 left over to invest in new locations, upgrade my locations, buy more equipment.” “You do understand, Congressman, the average person out there making 40, 50, $60,000 a year, when they hear that you have $400,000 left over, it’s not exactly a sympathetic position?” Jansing asked. “Again, class warfares never created a job,” Fleming replied. “That’s people that will not get jobs. This is all about creating jobs. It’s not about attacking people who make certain incomes. You know, in this country, most people feel that being successful in their businesses is a virtue, not a vice. And once we begin to identify it as a vice, this country is going down.” It wasn’t clear if the numbers cited by Fleming included his $174,000 congressional salary. Watch this video from MSNBC’s Jansing & Company, broadcast Sept. 19, 2011. W
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#1. To: Brian S (#0)
I thought the tax hike was only on people making more than $1 million a year, so what's this asshole whining about?
Oh, how ORIGINAL... you post another article with OUT-OF-CONTEXT comments, intentionally MISQUOTING what was said. As I said, how ORIGINAL... Now, let's get to what he REALLY said, and what it means... That means his net return on investment is only 9.5%. I say only, because actual inflation is 11% (when you strip away all the government propaganda, and face reality in BLUE. Bottom line is that his business isn't doing too well... But you, Baghdad Brian, aren't concerned with that... all you care about is pushing your socialist agenda... and NOBODY in the Tea Party supports your parasitic agenda. THAT'S why you keep posting this BS.
To :Skippy, toe-jam, old man Fred Alzheimers Mertz, _jim, loonymom/ming, e-type-jackoff, goober56, Wrek, calcon, dummy DwarF, continental op, Biff, gobsheit and meguro Thats not much given what he then has to spend on upkeep and upgrades.
Proxy IP's are amusing.....lmao
You really are an idiot, skippy, on finance and taxation. Among other things, as your post indicates clearly.
Proxy IP's are amusing.....lmao
Lession #1 - "President Obama on Monday will call for a new minimum tax rate for individuals making more than $1 million a year to ensure that they pay at least the same percentage of their earnings as middle-income taxpayers, according to administration officials. " Lesson #2 - Net income = $600,000 does not equal a taxable income of $1,000,000. Lesson #3 - The millionaire tax doesn't apply to this whining douchebag. Try learning what net income means for tax purposes. It might surprise you, assuming you're capable of understanding it.
Obama is the most Republican Democrat I have ever seen.
Better response from Fleming would have been: "Yeah, thieving class warfare asswipe, tell me how many of those 40-60k a year moguls pay 500 employees. That'd be about.......ZERO. Get the point Jansing??". Typical of brain shit's modus operandi....prints the very words and fail completely to see the concept.
Death to everybody who does not get outta my way. (decided to retire the beatdowns on old worthless retread posters that are bozoed)
Boofer only plays a successful bidness man on the internets. Truth be told, any success that his bidness enjoyed was because he stayed out of the way...
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" I lurk to see if someone other than Myst or Pookie posts anything...
Among other things, as your post indicates clearly. Reread until it sinks in.
Proxy IP's are amusing.....lmao
Lesson #2 - Net income = $600,000 does not equal a taxable income of $1,000,000. Lesson #3 - The millionaire tax doesn't apply to this whining douchebag. Try learning what net income means for tax purposes. It might surprise you, assuming you're capable of understanding it. Reread until it sinks in.
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" I lurk to see if someone other than Myst or Pookie posts anything...
Isn't there already an alternative minimum tax? Obama hates money in the economy. Obama is a dumb fuck. People who vote for him are dumb fucks. Repeat that until it sinks in meat head.
A good accountant can structure small business income so that it avoids the ~$300K threshold at which it kicks in. IIRC, the corporate AMT differs from an individual AMT in that not all corporate tax deductions would count against the the AMT. First off, this guy runs cash businesses, so the chance that he's declaring every penny of income is probably nil. Secondly, his income, i.e. how he is ACTUALLY paid, is probably structured so that it avoids AMT and other tax thresholds. He "owns" or leases property, equipment etc etc etc and the fact that he claims to re- invest is actually a positive for him for a couple of reasons: Some investment is pre-tax and other forms of capital investment gets capitalized rather quickly... In other words, he's crying starvation with two loaves of bread under his arm...
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" I lurk to see if someone other than Myst or Pookie posts anything...
One positive from this thread is you can tell who actually has run a small business, and who hasn't.
Proxy IP's are amusing.....lmao
The sheer tonnage of irony in that statement would stop a nuclear chain reaction like beer piss on a match... Every time that you open your yap about "business"....business hell...anything, you reveal how little you know...
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" I lurk to see if someone other than Myst or Pookie posts anything...
And shows he's willing to use any source, no matter how tenuous.
...or tedious...
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" I lurk to see if someone other than Myst or Pookie posts anything...
Let's say the guy does make over $1 million. How much extra will he have to pay because of it? Will it make any difference in how many minimum wage employees he has at his shops? How many people in the US actually do make more than $1 million before taxes? I find it hilarious that the idea that millionaires should pay the same tax rate as the little people has so many little people up in arms.
Obama is the most Republican Democrat I have ever seen.
Three or four cents more on the dollar probably...gee...why not ask them to cut off an arm.../sarc... Did you see the Rand Paul video from last week in which he stated..."The rich ARE getting richer but the poor are getting RICHER faster?" I'm telling you, the GOP is GIVING Obama and the dems EVERYTHING that they need for next year...
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" I lurk to see if someone other than Myst or Pookie posts anything...
I read about it. The BS is flowing so fast it's like a nuees ardentes burying everything in its path.
Obama is the most Republican Democrat I have ever seen.
I had to look that up...never heard PF called that before... HILARIOUS...
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" I lurk to see if someone other than Myst or Pookie posts anything...
It's a geologist thing.
Obama is the most Republican Democrat I have ever seen.
“Yeah, that’s before you pay 500 employees, you pay rent, you pay equipment and food,” Fleming agreed. “Since my net income — and again, that’s the individual rate that I told you about — the amount that I have to reinvest in my business and feed my family is more like $600,000
#2. To: Brian S, A K A STONE (#0)
Tea Party Rep.: Only $400,000 Left After ‘I Feed My Family’
“Since my net income — and again, that’s the individual rate that I told you about — the amount that I have to reinvest in my business and feed my family is more like $600,000 of that $6.3 million."
From: Capitalist Eric Message:
You're SOCIALIST morons. ESAD.
#3. To: Brian S (#0)
“Yeah, that’s before you pay 500 employees, you pay rent, you pay equipment and food,” Fleming agreed. “Since my net income — and again, that’s the individual rate that I told you about — the amount that I have to reinvest in my business and feed my family is more like $600,000 of that $6.3 million. And so by the time I feed my family, I have maybe $400,000 left over to invest in new locations, upgrade my locations, buy more equipment.”
#4. To: Skip Intro (#1)
#5. To: Badeye (#4)
#6. To: brain shit Economics on Parade (#0)
You do understand, Congressman, the average person out there making 40, 50, $60,000 a year, when they hear that you have $400,000 left over, it’s not exactly a sympathetic position?” the fucking brain shit imitator Jansing asked
#7. To: Skip Intro (#5)
Try learning what net income means for tax purposes. It might surprise you, assuming you're capable of understanding it.
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#8. To: Skip Intro (#5)
You really are an idiot, skippy, on finance and taxation.
#9. To: Badeye (#8)
Lession #1 - "President Obama on Monday will call for a new minimum tax rate for individuals making more than $1 million a year to ensure that they pay at least the same percentage of their earnings as middle-income taxpayers, according to administration officials. "
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#10. To: war (#9)
Lession #1 - "President Obama on Monday will call for a new minimum tax rate for individuals making more than $1 million a year to ensure that they pay at least the same percentage of their earnings as middle-income taxpayers, according to administration officials. "
#11. To: A K A Stone (#10)
Isn't there already an alternative minimum tax?
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#12. To: A K A Stone (#10)
#13. To: Badeye (#12)
One positive from this thread is you can tell who actually has run a small business, and who hasn't.
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#14. To: war (#13)
Every time that you open your yap about "business"....business hell...anything, you reveal how little you know...
#15. To: mininggold (#14)
...no matter how tenuous...
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#16. To: war (#7)
#17. To: Skip Intro (#16)
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#18. To: war (#17)
Did you see the Rand Paul video from last week in which he stated..."The rich ARE getting richer but the poor are getting RICHER faster?"
#19. To: Skip Intro (#18)
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#20. To: war (#19)
I had to look that up...never heard PF called that before...
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