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I don't follow celebrities, so no, I didn't notice. Still doesn't explain how someone like me who is not rich pays taxes. I thought the rich paid all the taxes.
I don't follow celebrities, so no, I didn't notice. Still doesn't explain how someone like me who is not rich pays taxes. I thought the rich paid all the taxes.
I think the article said the top 40% paid all the taxes. So there will be a lot of taxpayers included who are not at all rich.
I think all this article says is that the rich subsidize the poor.
I don't follow celebrities, so no, I didn't notice. Still doesn't explain how someone like me who is not rich pays taxes. I thought the rich paid all the taxes.
hmm, I don't recall saying you don't pay taxes. who knows, maybe Obama will think you are rich and dig deeper in your pocket.
The title is very misleading. It is the typical divisiveness and spinning we have come to count on from corporate media, however. One has only to look at the Big 6 shareholder's to figure out why.
First off this appears to be just income tax, which we don't get to completely follow where it all really goes. Certainly not going to get the best information from CBO or IRS. Some information on this came out under Reagan.
Secondly, the article states many others in the non-rich category in fact do pay income tax.
Thirdly, they fail to mention that the reason those poor people aren't paying income taxes is because they don't want to completely kill their cash cow. Govt makes more money from those investment funds than through taxes. They require services to validate their investment fund creations and count on liabilities to keep more returns from their creative accounting.
You will get a far better picture looking at CAFRs, Treasurer and Federal Reserve reports, than pointless articles like this. They always try to point at taxes and budgets and not on returns from investments.
Agreed. I paid some $28,000.00 in Federal income tax last year (joint filing) on total income of some $140,000.00. Hence, a statement that the 'rich' pay 'all the taxes' is false (as any thinking person would realize).
$140k makes you rich to many people, especially the people who think you have too much and they deserve what you earned.
The following 3 minute Youtube link with Warren Buffet and his secretary proves, that everything you said is untrue, a manipulation, and also a lie. (you must click the blue words bellow the screen to watch the video.)
oh please....it has been proven time after time that buffett lied
his secretary makes 60k (his words)..therefore she is in the 15% bracket..and would pay less than 12%....as I showed before she pays less than 5%
buffet pays an effective 17%...
buffets secretary is a married homeowner with 2 kids....making 60k.....just based on thr 60k here bracket would be 15%(lower than buffets 17%)...but that is not the actual WHOLE truth.......with the standard deduction, the 3700 times the 4 exemptions, etc she pays ZERO in tax..the only thing she ends up paying on the federal side is SS/medi for a total of 8%
FACT: making 60k (which is what buffet himself says she makes) puts her in the 15% bracket..and that's based on her ENTIRE 60k being taxed..and we ALL KNOW that is never the case...even single you have the personal exemption, and the standard deduction
buffets states he gets taxed at 17% and that is less than his secretary...fact that is a LIE
there is no disbuting that fact
buffett lied
he said his secretary pays 30% in federal taxes...he lies
FACTS:
we're talking about a married secretary. They file jointly, pay a home mortgage and have kids (still claimed or not) . They probably place at least $4,000 in an 401k (the average is about 7%) and itemize $15,000 in deductions(about 3k over the standard deduction). .....Here the tax picture changes dramatically. ....Taxable income drops to $27,800 -- the 15 percent tax bracket. With child tax credits, secretary now pays $1,419 in federal taxes, or 2.4 percent of $60,000. Add in another 2 percent for $1,218 in state taxes, and secretary pays a grand total, state and federal(to include payroll(ss)), of 4.4 percent on the $60,000-a-year salary.
Buffet made a career on tax avoidance but he thinks other people should pay higher taxes. They say he owes back taxes. I wonder if he ever straightened that up with the IRS.
Let's say Mitt Romney hires his son, and pays him $4M for a project. Would you suggest that his son shouldn't be taxed on that income b/c that money has already been taxed?
Or are you saying the act of doing nothing for your money entitles you to not be taxed on it?
No, I'm saying that inheritances and gifts to your children or other family members should be tax free if it stays in the family.
If my father gives me money to help pay for college or help buy a house should that money be taxed?
Money that you work for and have already paid taxes on and give or leave to your family should be off limits no matter how much it is.
And it certainly should not be subject to the government confiscating half of it.
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