You see, up until Obamacare, the truly wealthy in our society, that passive income crowd that dodged the top tax bracket by getting their compensation in capital gains and such, was EXEMPTED from the Medicare portion of FICA.
This tax (2.9%) went up .9% for incomes over 250k under PPACA. .9%’s not that bad, of course, but for those living on passive income, the hit is much larger.
Until now, this law, they were exempt from that tax.
Now they’re not.
Take a guy like Romney - he makes $20,000,000 a year, most if not all of it in the form of passive income. So he was paying at the 15% rate, thanks to the special treatment for such “special” income.
That went up to 20% when parts of hte Bush tax cuts expired in 2012.
Recognize who the freeloaders are in America. You don’t look down, you have to look up.
liberal girl:OH MY GOD YOU DID NOT JUST SAID THAT. DID YOU? DID YOU REALLY. YOU KNOW, LOVE IS LOVE, IT DOESN'T MATTER IF IT'S BETWEEN A BOY AND A BOY OR A GIRL AND A GIRL OR A BOY AND A GIRL, IT'S LOVE. GAY SHOULDN'T BE USED AS AN INSULT, I HOPE YOUR HEAD IS CUT OFF AND THROWN INTO A GAY BAR.
I don’t think I have an obsession; really, I don’t think I know anyone who has one.
Would you call your thing with vintage ponies an obsession, or just a hobby?
If an obsession, then I have a little obvious obsession with World Of Mana stuff
32. Favorite show?
Harvey Birdman: Attorney At Law
37. Ever had a near-death experience?
ha ha ha ha ha yes
“I’ve become skeptical of the unwritten rule that just because a boy and girl appear in the same feature, a romance must ensue. Rather, I want to portray a slightly different relationship, one where they two mutually inspire each other to live– if I’ m able to, then perhaps I’ll be closer to portraying a true expression of love.”—Hayao Miyazaki (via aphex2)
“Recent scholarship on Goldwater-Reagan conservatism has demolished the idea that it represented a rebellion by disoriented yahoos. Indeed, in 1984 Reagan took 62.7 percent of the college-educated vote, compared to Walter Mondale’s 36.9 percent. Working-class “Reagan Democrats” notwithstanding, Reaganism was a revolt of the privileged against the New Deal order that had been built by the farmer-labor alliance in coalition with middle-class progressives. Today as in the Reagan era, the Democrats are the more downscale, less-educated party, while the Republicans tend to win the votes of educated and affluent white Americans. In 2012 Romney received the votes of 52 percent of college-educated white women and 55 percent of college-educated white men, losing only the tiny sliver of whites with post-graduate degrees like university professors. While white voters of all age groups preferred Romney to Obama, the propensity of whites to vote for Republicans rises with income.”—Tea Party is an anti-populist elite tool. And it has progressives fooled (via azspot)
Regulators here are proposing that most U.S. corporations be required to provide annual public reporting on how the pay received by their chief executive compares to that of their average workers, a requirement proponents say could be a first step in reining in an unprecedented swelling in executive compensation.
If the rule is adopted, corporations would need to calculate this ratio for all workers, “including full-time, part-time, temporary, seasonal and non-U.S. employees”, according to an official release. This would also apply to workers employed by a company’s subsidiaries, including those not located in the United States.
The Securities & Exchange Commission (SEC), which voted to approve the proposal on Wednesday, was directed by the U.S. Congress to create the pay gap rule nearly three years ago. Although full details have not yet been made public, proponents of the rule say the proposal appears to have come out quite strong.
“We think it’s a home run – it includes basically everything we wanted,” Sarah Anderson, director of the Global Economy Project at the Institute for Policy Studies, a Washington think tank, told IPS.
“One argument by corporations was that this calculation was too difficult to figure out because they didn’t know how much they were paying workers in other countries – another sign of companies’ attempts to distance themselves from taking responsibility for their actions in other countries,” she says.