Jobs used as bargaining chip

[Spexxvet]

Big business fucking the middle class again.

From here

Did AT&T Corp. really think that its 11th-hour offer to bring 5,000 wireless call-center jobs back to the U.S. if its $39 billion purchase of T-Mobile USA was approved would work?

From here

Amazon.com is offering to bring thousands of jobs to California as it tries to back away from a ballot-box confrontation over the state's new Internet sales tax law.

[SamIam]

Did someone say "tax"? OMG, the shame! But then again, the upper 5% in wealth probably are too busy buying from Tiffany's to bother with Amazon.

[classicman]

Whats the income at 5% Sam?
IIRC, Its about $150,000. Thats not all that wealthy in the real world.

Now if you want to go at the top 1 or 2%. . .

[SamIam]

Originally Posted by classicman

Whats the income at 5% Sam?
IIRC, Its about $150,000. Thats not all that wealthy in the real world.

Now if you want to go at the top 1 or 2%. . .

Good question, Classic. I did a Google search on it and most of statistics I found seem to agree with you that the lower boundary of adjusted gross income for the upper 5% starts at about $159,000. For the top 1% AGI starts at $380,000 and goes up from there.

In addition, the top 50% have a share of 87% of the national AGI, while the bottom 50% have a share of 13% of the national AGI. Pretty wide gap there.

$150,000 may not be all that wealthy in the real world, but what does that then imply for $30,000 or $40,000? REALLY not all that wealthy?

[classicman]

Originally Posted by SamIam

For the top 1% AGI starts at $380,000 and goes up from there.

Surprising innit?

In addition, the top 50% have a share of 87% of the national AGI, while the bottom 50% have a share of 13% of the national AGI. Pretty wide gap there.

Whats the income at 50%?
I don't know how different that is versus years past, but it certainly doesn't surprise me. There will always be some with more than others.

$150,000 may not be all that wealthy in the real world, but what does that then imply for $30,000 or $40,000? REALLY not all that wealthy?

Really, not all that wealthy.

[classicman]

Found this ...

[bluecuracao]

I don't know...Last I checked, I live in the real world and $150K seems pretty damn wealthy to me.

$30 or 40K could cover the bills for a single person in a large city, but you would have to do some serious budgeting.

[DanaC]

The last full time job I had (2004-2006) I was paid £13.5k per annum.

That works out as a little under $22k per year. Some of that went to Income Tax and National Insurance. Leaving me with a net income of: approximately £10900, or $17700

Out of which I had to pay $7300 in rent, $800 in Council Tax, and approx. $2500 in Gas and electric.

After rent, tax and fuel, I was left with approximately $7k per year for everything else.

And that's in the North, where prices are comparatively low.

[Sundae]

I remember going through this before, when a poster claimed he could live on x amount and I honestly didn't believe it.
Turns out things are a lot cheaper in the States.
But then they don't have the safety net we have.

I currently earn £5k.
I pay my debts, my parents and feed Diz and myself.
Paying my prescription every two months and going to the dentist every six months is something I have to budget for. Whereas it just used to be something that happened.

God, the amount of jobs I applied for this summer.
I'm beginning to think I might have to do the unthinkable and get a cleaning job.
No. I know I hate it. I'll end up phoning in sick and despising myself.
Fingerers crossed that the school starts its breakfast club soon - I'm so up for that. And I hope they won't be inundated with other applicants because most jobs at schools are filled by Mums, and what Mum would voluntarily start the school run an hour and a half early?

[TheMercenary]

Originally Posted by SamIam

Good question, Classic. I did a Google search on it and most of statistics I found seem to agree with you that the lower boundary of adjusted gross income for the upper 5% starts at about $159,000. For the top 1% AGI starts at $380,000 and goes up from there.

In addition, the top 50% have a share of 87% of the national AGI, while the bottom 50% have a share of 13% of the national AGI. Pretty wide gap there.

$150,000 may not be all that wealthy in the real world, but what does that then imply for $30,000 or $40,000? REALLY not all that wealthy?

More class warfare, it's all about the have's and have nots with you... You also ignore the fact that that top percent already pays almost all of the federal income tax....

[TheMercenary]

Here is a potential source of savings....

Undocumented workers got billions from IRS in tax credits, audit finds

The Internal Revenue Service allowed undocumented workers to collect $4.2 billion in refundable tax credits last year, a new audit says, almost quadruple the sum five years ago.


Although undocumented workers are not eligible for federal benefits, the report released Thursday by the Treasury Inspector General for Tax Administration concludes that federal law is ambiguous on whether these workers qualify for a tax break based on earned income called the additional child tax credit.

Taxpayers can claim this credit to reduce what they owe in taxes, often getting refunds from the government. The vagueness of federal law may have contributed to the $4.2 billion in credits, the report said.

The IRS said it lacks the authority to disallow the claims.

Wage earners who do not have Social Security numbers and are not authorized to work in the United States can use what the IRS calls individual taxpayer identification numbers. Often these result in fraudulent claims on tax returns, auditors found.

Their data showed that 72 percent of returns filed with taxpayer identification numbers claimed the child tax credit.

The audit recommended that the IRS seek clarification on the law and check the immigration status of filers with taxpayer indentificaion numbers.

IRS officials, in response to a draft of the report, agreed to consult with the Treasury Department on the law. But they said they have no legal authority to demand that filers prove their legal status when the tax agency processes returns.

Changes to tax law are partly to blame for the explosion in refunds for additional child tax credits in recent years, auditors found. Before 2001, filers needed to have three or more children to qualify — and to owe more Social Security taxes than earned income credits.

But those requirements have been eliminated and the allowable refund for each child doubled. The American Recovery and Reinvestment Act of 2009 also made the refund easier to get, auditors found.

http://www.washingtonpost.com/blogs/...g.html?hpid=z3

[SamIam]

Originally Posted by TheMercenary

More class warfare, it's all about the have's and have nots with you... You also ignore the fact that that top percent already pays almost all of the federal income tax....

You bet! I think that disparity in income is outrageous. The United States is turning into a plutocracy if its not already there. Sure, let that top percent go back to paying the same amount amount of tax as before their minion, George W., pushed through those tax breaks for them.

[tw]

Originally Posted by SamIam

I think that disparity in income is outrageous.

Why so much surprise? Posted repeatedly was the problem when George Jr was promoting those tax cuts. Find previous claims that Kennedy tax cuts would make everything better. Also posted was the reality about a more massive downturn.

Worst recessions were preceded by the richest getting wealthier. Warren Buffet long ago was complaining about his receptionist paying tax rates much higher than he. When the rich were getting richer while all other were not, then the Great Depression occurred - as was posted back then. During George Jr's tenure, the only other time in America history that disparity was increasing. What resulted. Notice how many in the Cellar have problems finding work. We have the economy created when, well ...

Make a law that requires everyone to replace their lawn every year. Then GDP numbers will increase - as extremists politicians love. What happens many years later when that new lawn does not result in any return on investment? Welcome to this recession. That example was posted how long ago? We have the recession we wanted because so many remained silent or encouraged George Jr's welfare to the rich. So that lawn example was posted.

We are witnessing what was obvious long ago. Economics takes revenge on all when economics are 'improved' by money games. We have the economy that we all wanted.

[DanaC]

Originally Posted by TheMercenary

More class warfare, it's all about the have's and have nots with you... You also ignore the fact that that top percent already pays almost all of the federal income tax....

Class warfare is what that top 1% has been engaged in for the last few decades. Just because they don't use the 'C' word, doesn't make what they've been doing class neutral.

[TheMercenary]

And Obama and his ilk are playing it to the hilt to get re-elected. What a narrow minded group of people...