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Old 12-03-2012, 08:43 AM
 
17,297 posts, read 25,709,107 times
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Quote:
Originally Posted by InformedConsent View Post
Yep. Fail to pay your property taxes and the government confiscates your home.

Well, since property titles ALWAYS originate and flows from the sovereign, and since so many landholders in this country got FREE government land handouts that they've passed on for generations (homestead act), I don't see the problem.


I suppose schools, fire and police just pay for themselves in la la land though.
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Old 12-03-2012, 08:44 AM
 
33,046 posts, read 22,072,092 times
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Quote:
Originally Posted by InformedConsent View Post
What makes you think there are many deductions, tax shelters, or income shifting strategies those at the highest income levels can take? If it's so easy for the rich to avoid income taxes, why does the top 1% pay nearly 40% of the federal income tax while earning less than 20% of the income?

Because they have more ways to fudge their income numbers than those who earn wages and salaries.
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Old 12-03-2012, 08:49 AM
 
66,536 posts, read 30,350,225 times
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Quote:
Originally Posted by TriMT7 View Post
"Took steps to reduce their taxable income" does not mean "stop making money."
False.

Quote:
The rich never stop trying to make money.
False.


TigerHawk TV: Who are these "rich" people? - YouTube
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Old 12-03-2012, 08:51 AM
 
17,297 posts, read 25,709,107 times
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Quote:
Originally Posted by InformedConsent View Post
What makes you think there are many deductions, tax shelters, or income shifting strategies those at the highest income levels can take? If it's so easy for the rich to avoid income taxes, why does the top 1% pay nearly 40% of the federal income tax while earning less than 20% of the income?

Because we have a progressive tax system.

And we have a progressive system because 20% of 1 million is an easier pill to swallow than 20% of $20,000.00.



This is pretty elementary stuff.


Oh, and by the way, I'll say it again: TAX BURDENS ON ALL HOUSEHOLDS HAVEN'T BEEN THIS LOW IN DECADES AND DECADES.

How the Tax Burden Has Changed - Interactive Graphic - NYTimes.com

Most Americans Face Lower Tax Burden Than in the 80s - NYTimes.com

FactCheck.org : Tax Facts: Lowest Rates in 30 Years

In 2009, Americans paid lowest tax rates in 30 years to federal government - The Washington Post



Your wishing to blame "Obama" for the fact that people are amassing wealth and "not creating jobs" is bullsh**.

What's happened is that there are now far too many people in this country like you these days. Businesses have found they can make do with the same people doing more work for more money. Or, they can outsource.
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Old 12-03-2012, 08:52 AM
 
66,536 posts, read 30,350,225 times
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Quote:
Originally Posted by TriMT7 View Post
Well, since property titles ALWAYS originate and flows from the sovereign, and since so many landholders in this country got FREE government land handouts that they've passed on for generations (homestead act), I don't see the problem.
Really? You don't see a problem when people lose a paid off home? You don't see a problem when renters are evicted because the government has confiscated the landlord's property?
Quote:
I suppose schools, fire and police just pay for themselves in la la land though.
No, rich people buy municipal bonds, etc., to fund their facilities. Maybe those evil rich people should stop providing the capital to do so. Deal?
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Old 12-03-2012, 08:55 AM
 
17,297 posts, read 25,709,107 times
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Quote:
Originally Posted by InformedConsent View Post
False.

False.
Yeah Ok whatever you say!

Go back and read the link of the guy who explains quite nicely how the "millionaires are fleeing" Britain is bunk.



Quote:
Originally Posted by InformedConsent

Again: The wealthy do not stop making money. Rich people do not stop making money.

Anyone who "stops working" is either a) on the road to retirement anyway, and just looking for an excuse to stop; or b) decided they are rich enough they don't want to work anymore.



Buffett: Not even 'Grover Norquist' would stop investing because of the tax rate - The Hill's Video
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Old 12-03-2012, 08:58 AM
 
66,536 posts, read 30,350,225 times
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Quote:
Originally Posted by freemkt View Post
Because they have more ways to fudge their income numbers than those who earn wages and salaries.
False. 30% have SO many ways of fudging their income that not only do they pay NO federal income tax whatsoever, they actually get ADDITIONAL money FROM the government via refundable tax credits. No one in that 30% fudging their incomes and MAKING ADDITIONAL MONEY from the government comes from the "rich" demographic.
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Old 12-03-2012, 09:01 AM
 
17,297 posts, read 25,709,107 times
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Quote:
Originally Posted by InformedConsent View Post
Really? You don't see a problem when people lose a paid off home? You don't see a problem when renters are evicted because the government has confiscated the landlord's property?
You've got to be a real dead beat to lose a paid off home. Do you have any idea what kind of time and process it takes for the government to do that?

Like, completely head-in-sand, ignore the warnings and try not to do anything to sell the property before confiscation, or remediate the issue kinda ignorance.


Quote:
Originally Posted by InformedConsent
No, rich people buy municipal bonds, etc., to fund their facilities. Maybe those evil rich people should stop providing the capital to do so. Deal?

La la land nice this time of year?

Your failure to see how the economy, capitalism and wealth and income building is interconnected is the root of your failings.

The economy of the United States was at its middle class golden era heydey at the HEIGHT of really high progressive taxation, immense government intervention and spending in the economy and providing free educations to young men, and strong unions.


Today, far too many think that utopia can be achieved if the government just "goes away".... but I'd love to see how fast the economies and companies that rely on government largesse survive when THAT happens! From GE to Boeing, from Caterpillar, to military bases and pensions, to realtors and those who rely on government intervention in the housing market and bankers buying at the discount window and taking advantage of the security customers have re federal insurance of deposits.

But yeah, we'll just rely on the wealthy to buy muni bonds!
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Old 12-03-2012, 09:02 AM
 
66,536 posts, read 30,350,225 times
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Quote:
Originally Posted by TriMT7 View Post
Because we have a progressive tax system.

And we have a progressive system because 20% of 1 million is an easier pill to swallow than 20% of $20,000.00.
BS. If the "poor" have enough income to buy cigarettes, beer or liquor, and fast food, they have enough income to pay federal income tax.
Quote:
What's happened is that there are now far too many people in this country like you these days. Businesses have found they can make do with the same people doing more work for more money. Or, they can outsource.
Precisely. Because current U.S. policy is largely anti-business. In other words... an economy killer.
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Old 12-03-2012, 09:09 AM
 
Location: Central Maine
4,687 posts, read 5,539,153 times
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Why tax the wealthier Americans more?

A better question is why tax wealthier Americans less? One of the reasons I hear repeatedly is that lower taxes for "job creators" means a real boost to the economy. Well, the top rate was reduced several years ago. That MUST mean that the economy is doing great, right?

Another sign the economy's doing great:

Quote:
Just four years after the worst shock to the economy since the Great Depression, U.S. corporate profits are stronger than ever.

In the third quarter, corporate earnings were $1.75 trillion, up 18.6% from a year ago, according to last week's gross domestic product report. That took after-tax profits to their greatest percentage of GDP in history.
So with all those record profits, according to the trickle-down theory, workers must be doing great as well, right? I mean, that is the bedrock of conservative economic thinking, right?

Quote:
But the record profits come at the same time that workers' wages have fallen to their lowest-ever share of GDP.
At a minimum, let the Bush tax cuts expire for the top bracket. That talk about "job creators" is a bunch of crap ... unless they meant jobs in China?? And put away old, discredited theories about "trickle down" - it ain't money that they're talking about trickling down to regular working people.

Oh, and the current Republican lie -- about President Obama being anti-business? -- if Obama was truly anti-business, do you think corporate earnings would be at record-breaking levels? That's ridiculous. People really need to be better informed.
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