Occupy Atlanta (ref: Wall Street protests here) (taxes, vs.)

[JPD]

Originally Posted by arjay57

I'm not suggesting that you "feel sorry" for this guy. Why that figure into it?

And of course nobody has to pay for their children education. They can fend for themselves like you and I did. Whether they pay for their kids' education or not, I still think that for working stiffs there ought to be some lifetime cap on what you have to pay in. Maybe $5,000,000 from your paychecks is too high or too low.

But there ought to be some point where we say, "Okay, Citizen X has been a diligent, successful worker who has endured their ups and downs and dutifully paid in 40% of their earnings, and in this case they have hit the max for what we expect one wage earning person to do."

By the way, "setting something aside" is not the same thing as losing your earning power. You are conflating earnings with savings and/or investments. I know plenty of people who carefully saved for retirement for decades and then got blown out of the water by business failures, illnesses, scams, the needs of friends and family members, and so on. However, in their 60s, 70s and 80s they don't have the capacity to work like they used to.

And that is precisely why Occupy Wall Street is a legitimate movement worthy of bi-partisan respect and not the type of ill-informed scorn coming from that nit-wit on the Marietta Daily Journal op-ed page, and her ilk.

I don't know if there should be a lifetime cap on taxes. It's an interesting proposal, but we both know it'll never happen, except probably for billionaires once they write it into law for themselves.

[neil0311]

Just heard Clark Howard's show on WSB in the car on the way home. He actually made a great point that made sense to me, but I suspect won't to many of you. Clark suggested reducing the corporate income tax rate to ZERO.

His hypothesis is that it would take the gamesmanship out of the political system, and would eliminate the manipulation of politicians by companies looking for preferential tax treatment. On top of that, he made the point that corporate taxes are simply passed on to the consumer or recipient of the service, which is a good point, and he then compared our corporate tax rate to those overseas and how profits kept overseas stifle economic growth.

Clark endorses a flat income tax and/or sales tax for individuals, with something like the "fair tax" in place. Bottom line is we have to clean up this mess of a tax code that treats specific individuals and corporations preferentially while penalizing others. If every individual and corporation paid the same rate as every other individual and corporation, with no gimmicks or loopholes, then most of the complaints would disappear, since you could not have anyone paying nothing unless they had no income.

[BringBackCobain]

Originally Posted by JPD

And that is precisely why Occupy Wall Street is a legitimate movement worthy of bi-partisan respect and not the type of ill-informed scorn coming from that nit-wit on the Marietta Daily Journal op-ed page, and her ilk.

I don't know if there should be a lifetime cap on taxes. It's an interesting proposal, but we both know it'll never happen, except probably for billionaires once they write it into law for themselves.

You're just another closeted Marxist who worships at the altar of statism if you think that a movement calling for the dismantling of capitalism, the seizure of private wealth, and implementation of class warfare is a "legitimate movement worthy of bi-partisan support." Quit trying to get us to drink the kool-aid, bro.

[neil0311]

Originally Posted by JPD

And that is precisely why Occupy Wall Street is a legitimate movement worthy of bi-partisan respect and not the type of ill-informed scorn coming from that nit-wit on the Marietta Daily Journal op-ed page, and her ilk.

I don't know if there should be a lifetime cap on taxes. It's an interesting proposal, but we both know it'll never happen, except probably for billionaires once they write it into law for themselves.

As one of her "ilk" I get a bit tired of self-appointed guardians of enlightenment like yourself slinging around insults. It never ceases to amaze me how people who talk about "diversity" and "freedom" are the first to want to ridicule dissent when it doesn't conform to their view of political correctness.

Signed,

A Nit-Wit

[JPD]

Originally Posted by BringBackCobain

You're just another closeted Marxist who worships at the altar of statism if you think that a movement calling for the dismantling of capitalism, the seizure of private wealth, and implementation of class warfare is a "legitimate movement worthy of bi-partisan support." Quit trying to get us to drink the kool-aid, bro.

Show me where these are the stated goals of this movement? You should educate yourself.

[JPD]

Originally Posted by neil0311

As one of her "ilk" I get a bit tired of self-appointed guardians of enlightenment like yourself slinging around insults. It never ceases to amaze me how people who talk about "diversity" and "freedom" are the first to want to ridicule dissent when it doesn't conform to their view of political correctness.

Signed,

A Nit-Wit

I guess you were blind to all the insults in that opinion piece you so strongly agree with.

Please find a post where I've said anything at all about "diversity" or "freedom."

[arjay57]

Originally Posted by JPD

And that is precisely why Occupy Wall Street is a legitimate movement worthy of bi-partisan respect and not the type of ill-informed scorn coming from that nit-wit on the Marietta Daily Journal op-ed page, and her ilk.

I don't know if there should be a lifetime cap on taxes. It's an interesting proposal, but we both know it'll never happen, except probably for billionaires once they write it into law for themselves.

I said earlier that while these protesters are somewhat off base, I respect them for getting off their duffs and standing up for their views. Our financial system is obviously far from perfect and we ought to have some good vigorous discussions about it.

We can't do that, of course, as long we're talking about "the rich" and "the poor" as if they are monolithic classes in society. Billionaires are in a very different situation from the wage earning people I'm talking about. You can't compare the school superintendent or the doctor or the manager of a non-profit making $500,000 a year with some hedge fund manager who makes that much every hour.

[MathmanMathman]

Originally Posted by LAB6120

Read my post above yours about how some millionares(the ones bringing in income) avoid paying income taxes.
And here's a list of corporations that paid no income taxes last year:
BANK OF AMERICA-got a $1.9 billion refund last year.
WELLS FARGO-paid nothing
GOLDMAN SACHS-paid a measly 1.1% in taxes
EXXON MOBILE-paid no income tax and actually got a $156 million rebate from the IRS.
BOEING-nothing
GENERAL ELECTRIC-got a 4.1 billion refund.
There are also alot of other companies who pay a lot less than the Standard 35% tax rate those include:
AMAZON-paid 4.3%
GOOGLE-paid 2.3% Google shifts most of its income through Ireland and Netherlands.
And one of my favorite, Rudolf Murdoch's NEWS CORPORATION-juggles money through its 152 subsidiaries in tax havens from the British Virgin Islands to Hong Kong. There are more corp's that pay nothing-do a little research instead of listening to the rhetoric.

Yet you guys want to go around blaming the 47% of poor people who dont pay any fed income tax-Its not like I am cheating the system-I dont purposely go out and look for loopholes not to pay taxes-I use the standard deduction and child tax credit and inturn get a refund. If you guys are so enthusiastic about paying federal taxes-claim "0" or give them extra. Otherwise, I will continue to do what the law allows and get my refund.

I'm fine with that. Personally, I think no corporation or business should pay any income taxes. Only people should pay income taxes. Do that and a lot of companies will relocate to the US.

[JPD]

Originally Posted by MathmanMathman

I'm fine with that. Personally, I think no corporation or business should pay any income taxes. Only people should pay income taxes. Do that and a lot of companies will relocate to the US.

Corporations ARE people.

[onemanarmy]

Originally Posted by JPD

Corporations ARE people.

Yep, according to the SCOTUS....