Ferrari Mailing List: Re: "Economics"

[Erik Nielsen (judge4re]

You guys may want to take a look at this.

http://www.nytimes.com/packages/html/national/20050515_CLASS_GRAPHIC/index_01.html

Data is a few years old, but based on these numbers, I'm still in the
top 5% on a class basis.  Comfortable yes, but by no means am I really
rich!

On Thu, Nov 13, 2008 at 1:05 PM, philville dejazzd.com
<philville [at] dejazzd.com> wrote:
>
>   Just where do we think ( the list in general, not just Charles) the
>   middle class begins and or ends dollar wise, and does our position in
>   society still count??
>
>   Ric is dead on with all of this. It's not the Pickens or the
>   Buffetts that are suffering from this incessant taxation - it's me!
>   Last year, after paying well into six figures in Federal taxes
>   throughout the year, I found out in April that I owed another $4,000
>   in Federal taxes thanks to the Alternative Minimum Tax (AMT) -
>   originally a "soak the rich" tax which is now affecting millions of
>   upper middle class families like mine.
>   ----- Original Message -----
>   From: Charles Perry <charles [at] carolina-sound.com>
>   Date: Wednesday, November 12, 2008 6:37 pm
>   Subject: Re: [Ferrari] "Economics"
>   To: Phil Tegtmeier <philville [at] dejazzd.com>
>   Cc: The FerrariList <ferrari [at] ferrarilist.com>
>   > Mike -
>   >
>   > When did you become such a flaming liberal? Do you need rescuing
>   > from the Northeast? We will help you!!
>   >
>   > Ric is dead on with all of this. It's not the Pickens or the
>   > Buffetts that are suffering from this incessant taxation - it's
>   > me! Last year, after paying well into six figures in Federal
>   > taxes throughout the year, I found out in April that I owed
>   > another $4,000 in Federal taxes thanks to the Alternative
>   > Minimum Tax (AMT) - originally a "soak the rich" tax which is
>   > now affecting millions of upper middle class families like mine.
>   >
>   > You know me - you've been to my house - you know my lifestyle. I
>   > am not wallowing in money, and $4k still means a helluva lot to
>   > me. Yes, I own some nice cars, but the youngest of which is 10
>   > years old now - I'm not in the "pay an extra $100k for a 599 to
>   > be first in SC" club. For me to pay that incremental $4k, my
>   > company has to make an extra $10k in profit to pay that to me.
>   > For that to happen, we have to sell another $40,000 in goods and
>   > services. Each of the four members of my family is in the same
>   > position, so our company has to sell another $160,000 in goods
>   > and services JUST TO PAY THE AMT - never mind the oppressive
>   > regular tax.
>   >
>   > There are millions of small businesses that don't gross $160k in
>   > a year, let alone make that just to "allow" their principles to
>   > pay AMT. Furthermore, if we had that extra $40k in profit that
>   > we have to use to use for AMT to use for something else, I would
>   > hire someone to reduce my 110 hour work week and give me some
>   > time with my family. That would be me CREATING A JOB - just like
>   > the Dems always claim to want to do. But that job will never
>   > exist because of the AMT. And for every new tax that is heaped
>   > upon me because I work hard and am therefore "unspeakably
>   > wealthy," that is one LESS job that I will create and that much
>   > less my company can do to keep the economy moving.
>   >
>   > Worse, my parents are paying thousands of dollars a month in
>   > life insurance premiums to provide a policy that will pay the
>   > Death Tax on the value of this business when they die, so that
>   > the government doesn't force my brother and I to sell the
>   > company that our family has worked decades to build so that the
>   > Dems can give half of it to some people who chose not to build
>   > anything for themselves.
>   >
>   > This is really, really, simple stuff and I KNOW you are this
>   > smart. I, for one, am definitely crying...
>   >
>   > -- charles
>   >
>   >
>   >
>   > -----Original Message-----
>   > From: Michael James [mailto:cavallino_rapante [at] yahoo.com]
>   > Sent: Wednesday, November 12, 2008 2:33 PM
>   > To: Charles Perry
>   > Cc: The FerrariList
>   > Subject: Re: [Ferrari] Are Ferraris Losing Their Good Looks?
>   >
>   >
>   > For me, its a waste of bandwidth to 'come to the aid' of folks
>   > who don't seem to want or need defending.  Every time I read of
>   > T.Boon Picken's exploits, he's made another $100 Million, he
>   > certainly isn't looking for a shoulder to cry on
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>   Philip "Phil" Tegtmeier
>   39 Churchill Drive
>   Elverson Pa 19520
>   610.525.8949
>   And, go to: ... www.PhilvilleUSA.com
>
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