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No it's not BS. That's exactly what defines "rich people" because rich people don't get all their money via a paycheck. They invest their money to generate money.
If you rely on a paycheck then you aren't rich. And that's why I don't consider middle mgmt making $200K a year RICH. They lose their jobs and they ain't RICH anymore.
starting a fake corporation that does nothing but loose money so that you can write off all of the expenses of the boat is not income, its not an investment, it is a way to pay less taxes on something that is a luxury.
Those making $10 million or more earned nearly half of their income from capital gains and dividends.
That is why people are pi$$3d. On top of paying 15% on most of their income, most rich folks also run everything (yachts, planes, homes etc) through tax haven corporations, so their reported income is a load of BS. Everything is written off as a business expense. They are not paying their fair share because of cleaver accounting.
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Originally Posted by Rafo1981
Where did I say anything about 200 thousand?
Are you all in on taxing what Obama defines as the rich? Obama is going after people who make $200K/$250K. These are not the people who buy yachts, planes and multiple homes. They generally don't get much if any dividend income and they work for their money the same as the middle class yet you cheer when Obama classifies them as millionaires and billionaires and want to tax the hell out of them.
See how Obama is calling you stupid. He knows you do not know any better.
starting a fake corporation that does nothing but loose money so that you can write off all of the expenses of the boat is not income, its not an investment, it is a way to pay less taxes on something that is a luxury.
So all millionaires do that ? Now you're making up stories to justify your opinion.
If you want to go down that road, I think you are going to get squashed like a bug when you come across a little thing called property taxes, which poor people pay little of any of, and rich people pay a ton of..
I'll say it for you "Ouch, I hate when that happens"
or
"Oh well, back to the drawing board"
Uh.... I didn't know owning property was a mandatory thing... but even those poor people renters pay property taxes as part of their rent. Or do you think landlords don't pass those costs along?
Anyone else had it up to here with devious right-wingers who attempt to mislead with garbage like this? It's dishonest on so many levels:
1. They leave out sales, property, state income and withholding taxes.
I showed the charts in my last post. It's easy to see the higher income earners are overpaying while the bottom 60% are leeching WAY more than their fair share of government benefits and services.
Quote:
2. They neglect to put it into perspective - Is the income tax burden proportional to the amount of income they make?
Uh.... I didn't know owning property was a mandatory thing... but even those poor people renters pay property taxes as part of their rent. Or do you think landlords don't pass those costs along?
Yah, a tiny amount of money compared to what a rich person's mansion, or thier boats, or factories, where, er, um, not-rich people work, costs in taxes.
I'll ignore the "mandatory" statement as the Red Herring it is - just an attempted distraction.
Keep trying, though. Some day, you might hit the "stopped-clock" jackpot.
Who gets federal, state, and local government benefits and services freebies showered down on them?
Yes it's already been established that the wealthy pay the most and it's already been established the wealthy paid more in the past without killing the economy. If you asked me that everyone needs to pay more taxes then I would say yes. If you ask me that the wealthy still need to pay the most then I would say yes. Simply speaking, I'd rather keep lower taxes on the bottom 60% (who make up quite a large consumer class) so they have more money in their pockets.
As to your bottom chart. How is that surprising? How do you propose the lowest 20% to simultaneously receive governmental services that cover living expenses and pay into it when they are poor with low incomes. The real problem to me is those low income individual or families creating the fraud and abuse. I wish the government would put some serious jail time in defrauding the government.
Yah, a tiny amount of money compared to what a rich person's mansion, or thier boats, or factories, where, er, um, not-rich people work, costs in taxes.
I'll ignore the "mandatory" statement as the Red Herring it is - just an attempted distraction.
Keep trying, though. Some day, you might hit the "stopped-clock" jackpot.
I'm not really sure what your point is here. Some people choose to buy residences or property and pay property taxes directly. Some people choose to rent residences or property and pay property taxes indirectly. Either way the same amount of money is being paid to da gubment relative to the worth of the property.
Most of them do not pay anywhere near that. Most of them get most of their income from capital gains which are taxed at 15% only. Capital gains should be taxed as regular income. If you are a retired person getting $12,000 off of stocks and you have an income of $20,000 a year, you should not be taxed 15%. If you are a millionaire, capital gains should be taxed at 39%.
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