Quote: (10-27-2011 11:10 AM)Vicious Wrote:
The whole anger over the 1% is laughable because it really shows people lack of fundamental math and logical reasoning.
In the US for example the 1% would be anyone earning $250.000 and above. A lot of money, but hardly old-boys-club illuminati CEOs like the catchphrase would want you to believe.
See, buddy, if you're going to be smug, at least get your facts right.
The top 1% is $380,354.
That's also AGI.
I don't expect you to understand the difference between income and AGI.
Still, the facts speak for themselves. You and other boot lickers don't even have your basic facts right.
You don't know what the income number is.
You don't know how AGI is calculated.
You don't know how much money is washed out before AGI is calculated.
For the guys with an open mind.
I could have over one million in income, while having an AGI of $380,000.
While your plebians pay for your car, my corporation leases one, that it allows me to use for business purposes. That's a tax write-off.
If I buy my own car, well, I can write off mileage - 52 cents per mile. My morning commute thus makes me a small profit.
Gold-plated health care plan? That's an write-off, too.
Also, I can put up to $50,000 in a retirement fund. Another tax write-off.
Etc.
So, sure, 380K is not a ton of money. Once you see how you arrive at that number, you realize what real money is involved.