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Old 07-27-2011, 09:27 AM
 
Location: California
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A short cartoon video on the negotiation process between Democrats and Republicans [satire].

‪When Democrats Negotiate with Republicans (Satire)‬‏ - YouTube


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Old 07-27-2011, 09:32 AM
 
Location: Portland, OR
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Quote:
Originally Posted by Kerby W-R View Post
A short cartoon video on the negotiation process between Democrats and Republicans [satire].

‪When Democrats Negotiate with Republicans (Satire)‬‏ - YouTube

Dont the rich already pay the largest share of the taxes?
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Old 07-27-2011, 09:35 AM
 
Location: California
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No. They have been getting tax breaks for the past 30 years and have increased their wealth over the past 30 years because of this. They do not want to relinquish this goody bag of tax breaks that they profit from. They want the rest of America to pay for their gains.
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Old 07-27-2011, 09:36 AM
 
Location: Portland, OR
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Quote:
Originally Posted by Kerby W-R View Post
No. They have been getting tax breaks for the past 30 years and have increased their wealth over the past 30 years because of this. They do not want to relinquish this goody bag of tax breaks that they profit from. They want the rest of America to pay for their gains.
No. They pay the greatest proportion of taxes already. In fact the Top 47% of income earners pay 100% of the taxes. How is that even close to fair? I'm looking forward to your spin
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Old 07-27-2011, 09:40 AM
 
22,769 posts, read 26,240,462 times
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Originally Posted by VTHokieFan View Post
Dont the rich already pay the largest share of the taxes?
he who has the largest share of the wealth pays the largest share of the taxes, that much is common sense. The real question is how much are they paying as a % of their incomes.

the top 400 taxpayers paid an average of 18.11%, according to the IRS (2008 is most recent data). So they pay less of their incomes in taxes than a vanilla taxpayer without any special breaks, who has a salary of $250k, or $100k, or even $50k.

This is much lower than, say, 1995, where the tpo 400 paid about 30%. What happened was that we cut the capital gains rate twice since 1995, and now the rich don't pay very much of their incomes in taxes.
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Old 07-27-2011, 09:42 AM
 
Location: Portland, OR
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Originally Posted by le roi View Post
he who has the largest share of the wealth pays the largest share of the taxes.

however, the top 400 taxpayers pay an average of 18.11%, according to the IRS. So they pay less of their incomes in taxes than someone who has a salary of $250k, or $100k, or even $50k.
That's because their compensation is often in stock which is subject to 15% capital gains tax. Thus, raising income tax brackets does nothing. Steve Jobs makes $1.00 per year.
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Old 07-27-2011, 09:42 AM
 
Location: California
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You know that the rich have been getting tax breaks for the past 30 years, right ? Well, the rest of us have not. The rich have increased their wealth. Most of the rest of Americans have not. The rich do not want to give up this tax break which increases their profits. They do not want to give their fair share. There is NO SPIN...THESE ARE FACTS.
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Old 07-27-2011, 09:45 AM
 
22,769 posts, read 26,240,462 times
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Originally Posted by VTHokieFan View Post
That's because their compensation is often in stock which is subject to 15% capital gains tax. Thus, raising income tax brackets does nothing. Steve Jobs makes $1.00 per year.
yup.

it's a mystery to me why the Republicans don't propose lowering the income tax rate all the way down to the level of long term capital gains, 15%.
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Old 07-27-2011, 09:47 AM
 
Location: Portland, OR
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Quote:
Originally Posted by Kerby W-R View Post
You know that the rich have been getting tax breaks for the past 30 years, right ? Well, the rest of us have not. The rich have increased their wealth. Most of the rest of Americans have not. The rich do not want to give up this tax break which increases their profits. They do not want to give their fair share. There is NO SPIN...THESE ARE FACTS.
Obama, the man you voted into office, continued these policies.
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Old 07-27-2011, 09:47 AM
 
Location: Londonderry, NH
41,492 posts, read 51,426,259 times
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We ned to institute a progressive income tax the includes all income from all sources above the 90th percentile and collects enough income for current operating expenses plus paying down 10% of the deficit.
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