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Old 09-12-2018, 09:27 PM
 
Location: Near Falls Lake
2,299 posts, read 1,675,948 times
Reputation: 2142

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Quote:
Originally Posted by Digger 68 View Post
But how much Tax do they pay?
There are a lot of variables but in my experience most of them pay a hell of a lot! Now if you want to talk about Buffett and his secretary, be aware that she earned 500k/yr (which makes her one of the 1%). When I owned my engineering company I had many years where my effective tax rate was above 30%.
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Old 09-12-2018, 09:28 PM
 
Location: Near Falls Lake
2,299 posts, read 1,675,948 times
Reputation: 2142
Quote:
Originally Posted by Regajohn View Post
Who pays U.S. income tax, and how much? | Pew Research Center

The bottom half of all wage earners pay virtually zero
Facts!!! They can be disturbing to those who think otherwise!
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Old 09-12-2018, 09:32 PM
 
Location: southern california
55,237 posts, read 72,392,137 times
Reputation: 47449
Every time I got a raise every time I got a promotion every time I left a horrid pit for something better people hung their head or shook their fist and said he did not deserve it I did
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Old 09-13-2018, 06:37 AM
 
7,283 posts, read 8,112,371 times
Reputation: 5371
Quote:
Originally Posted by TaxPhd View Post


Everyone, rich and poor alike, pays the exact same rate on the same type and quantity of income.
Never heard it stated so well and succinctly.
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Old 09-13-2018, 09:16 AM
 
8,278 posts, read 3,452,461 times
Reputation: 1584
Quote:
Originally Posted by EDS_ View Post
Never heard it stated so well and succinctly.
What about deductions, tax credits and write offs and such?
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Old 09-13-2018, 10:01 AM
 
7,283 posts, read 8,112,371 times
Reputation: 5371
Quote:
Originally Posted by Hoonose View Post
What about deductions, tax credits and write offs and such?
Everyone has identical availability in order to use those things. TaxPhd answered your question above too.

Last edited by EDS_; 09-13-2018 at 10:24 AM..
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Old 09-13-2018, 10:28 AM
 
8,278 posts, read 3,452,461 times
Reputation: 1584
Quote:
Originally Posted by EDS_ View Post
Everyone has identical availability in order to use those things. TaxPhd answered your question above too.
Just mentioning that these change the 'quantity of income' upon which taxes are then based.
Someone relatively poor may not benefit from say tax credits. Renters will not have mortgage deductions.
Business losses may be carried forward. Another not very applicable to the poor.
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Old 09-13-2018, 10:46 AM
 
Location: Paranoid State
12,672 posts, read 9,420,097 times
Reputation: 14925
Quote:
Originally Posted by Regajohn View Post
Who pays U.S. income tax, and how much? | Pew Research Center

The bottom half of all wage earners pay virtually zero
Yep. They get a free ride.
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Old 09-13-2018, 10:48 AM
 
Location: Paranoid State
12,672 posts, read 9,420,097 times
Reputation: 14925
Quote:
Originally Posted by Hoonose View Post
What about deductions, tax credits and write offs and such?
Please list 5 write-offs to which you object. Or even 3.

Last edited by SportyandMisty; 09-13-2018 at 11:07 AM..
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Old 09-13-2018, 10:52 AM
 
Location: Paranoid State
12,672 posts, read 9,420,097 times
Reputation: 14925
Ah, yes, the "write-off" - a favorite shibboleth of the Left.

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