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It took me two years the first time now I read the new codes and just review.
Wow. I haven't really looked for several years, since i last did some part time tax preparation. I live vicariously through a CPA / MBT associate.
What do you think about the complexity of it in the context of advantageous lawyers / accountants? Do you think there is a reasonable simplification that might benefit the masses?
Wow. I haven't really looked for several years, since i last did some part time tax preparation. I live vicariously through a CPA / MBT associate.
What do you think about the complexity of it in the context of advantageous lawyers / accountants? Do you think there is a reasonable simplification that might benefit the masses?
I have yet to be audited. I do file a fairly conservative return so I should be OK if I am audited.
There is always a lot of noise about the lack of equity, in terms of who pays and how much they pay, in the current tax system. Many call for a flat tax but I would imagine a lot of attorneys and accountants are against any tax code simplifications that would likely take business away from them.
Do you agree with this commonly held assessment held by some conservatives?
The title "Only The Rich Pay Taxes" is a joke. Tell that to anyone who isn't making an obscene amount of money and they will tell you otherwise, and maybe even the exact opposite. They are being taxed so much because they make so much more. It's funny that a man as conservative as Rush is bringing this up because he is so anti-tax. He is a hypocrite.
I do agree though, not at all for he same reasons, that we should pay more taxes. I do think that the more you make the higher percentage of your income should be taxed. After a while he amount the rich makes is more than enough to live a happy and healthy life, whereas those who are poor do not even make enough to be happy and healthy without being taxed.
The title "Only The Rich Pay Taxes" is a joke. Tell that to anyone who isn't making an obscene amount of money and they will tell you otherwise, and maybe even the exact opposite. They are being taxed so much because they make so much more. It's funny that a man as conservative as Rush is bringing this up because he is so anti-tax. He is a hypocrite.
I do agree though, not at all for he same reasons, that we should pay more taxes. I do think that the more you make the higher percentage of your income should be taxed. After a while he amount the rich makes is more than enough to live a happy and healthy life, whereas those who are poor do not even make enough to be happy and healthy without being taxed.
So there are two taxpayers on the planet. Taxpayer number 1 pays a 10% rate while number 2 pays a rate more than double that. But taxpayer number 1 pays 99.58% of the total tax paid. How? He makes $50,000,000 and therefore pays tax of $5,000,000 while the other makes $95,000 and pays $20,900.
There is a disparity in the effective tax rate, due largely to tax shelters (or loopholes if you will) that are not available to the average earner. But the wealthy contribute far more in terms of gross amount. As a result, many call for a flat tax to eliminate this effective rate disparity.
No...I think we all (except the lower class that pay no taxes whatsoever) pay way too much. Instead of taxing more, it would be nice to see Congress actually slash spending so we don't pay as much.
There is no way that the middle class even comes CLOSE to the same contributions as the rich. Whether or not they should, I do not know... but it's hypocritical for middle class to be complaining that the lower class pay nothing and the upper class "should pay more" when they for sure contribute much less than the upper class. Basically this whole argument comes down to a "me me me" attitude. At least when the upper class is complaining about paying so much they have nobody to answer to, and they are factually correct.
There is no way that the middle class even comes CLOSE to the same contributions as the rich. Whether or not they should, I do not know... but it's hypocritical for middle class to be complaining that the lower class pay nothing and the upper class "should pay more" when they for sure contribute much less than the upper class. Basically this whole argument comes down to a "me me me" attitude. At least when the upper class is complaining about paying so much they have nobody to answer to, and they are factually correct.
The complaints seem to stem from the belief that the middle class pays a higher % of tax as a % of their income. The middle class believes they are paying for the lower class to be on welfare and they don't like that. Can you blame them? I'm sure many wealthy people, who have worked hard for their money, feel the same way. I gave a simple example in a prior post of how the wealthy pay more in terms of total contributions but less in terms of a % of their income. Again, if this is true as I believe it to be, it is because the wealthy have more tax shelters available to them than the middle class.
Through inside sources, I hear that the IRS revenue from the middle class is around 75% of their income annually. This does not jive with my prior, simple example. But, if this is true, then the middle class (which today really includes much of the lower class and some of what people like to call rich) is paying the majority of federal taxes being paid.
There is no way that the middle class even comes CLOSE to the same contributions as the rich. Whether or not they should, I do not know... but it's hypocritical for middle class to be complaining that the lower class pay nothing and the upper class "should pay more" when they for sure contribute much less than the upper class. Basically this whole argument comes down to a "me me me" attitude. At least when the upper class is complaining about paying so much they have nobody to answer to, and they are factually correct.
It's always "me, me, me" as you put it. We look after our own after all...don't we? Not sure what you meant or the point you are trying to make by saying " At least when the upper class is complaining about paying so much they have nobody to answer to, and they are factually correct."
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