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Obviously you are not wealthy. You see, when you have money, you can find more places to bury it. There are more tax loopholes that you can take advantage of.
There was a study done once. It looked at tax returns, comparing actual gross incomes with the actual dollars each paid in taxes and it found that the more wealthy you were the less the percentage your actual payment was compared to your gross income.
All loopholes of one sort or another.
So, don't feel sorry for them.
Also, another study which I heard on the tv program 'Your Money' CNN, said the wealthy were actually the least resentful of the taxes they paid.
I guess you can only have so many homes, planes, boats, etc. It is not significant and does not appreciably change their lifestyles.
The poorer you are, the more those higher taxes impact your real life - your neighborhood (and thereby the quality of schools your children go to), where and what you eat, how reliable your car is, how often you use your air conditioning, go to the doctors for checkups, the sort of clubs and associations and activities and vacations your family goes on.
The wealthy don't worry much about such things. It only represents numbers that they get on statements once a month. Life goes on.
So what's theirs is yours? Since some people have more money than you, they should pay more? I don't agree with that. Lots of people already do not pay taxes because their incomes are too low. They DO get tax breaks. I'm sure I'd be considered middle class (other than by Bill Clinton's standards, in which case I am wealthy ). I own a small business and of course I take all the deductions I can; it would be stupid not to. And I pay a lot in taxes.
But I don't agree with the Robin Hood mentality. People who are rich are that way because they have either: 1) Inherited the money. If I had inherited money from my relative, what right does the government have to take a part of it? 2) Make good investment choices. 3) Worked hard and become successful by starting a business or whatever. So if you are successful the goverment gets a cut? Not fair.
Obama can talk about it all he wants. He is a socialist our taxes are going to go up, even those of us who are not wealthy.
The electoral map polls in 2004 were pretty accurate to the outcome of the 2004 election. I would expect the same accuracy in 2008.
The magic number to win is 270
As you can see this is why McCain is desperate and made a bold move to pick Palin, but it looks like its not helping his numbers in the electoral math. Virginia is a tie 45% to 45%. Its been decades since Virginia has been this close to becoming blue. North Carolina is in the margin of error as well but I think McCain will win North Carolina.
I agree with this poster. And I am a GOP voter (albeit not very happy with the Palin pick).
Yeah, I guess that depends what your definition of wealthy is. When Clinton was in office, someone who made $50,000 was wealthy. I don't believe for a second that he is not going to raise taxes. He is going to eliminate the tax cuts that Bush has enacted. He is going to raise taxes on small business. Obama WILL raise taxes; he has to to support all his social programs. And not just wealthy, either. And I'm not wealthy - but why should the wealthy pay a disproportionate amount of their income in taxes? Just because they are rich they have to share their money with everyone else? How is that fair?
You're playing semantics.
Obama has been very clear on whose tax cuts will end. The tax rate should be about the same as it was under your hero Reagan.
Corporations need to pay their fair share of taxes too.
I'd bet, dollars to donuts that Obama's tax cuts would actually benefit you.
Not by much and the tax increases on corporations would do enough damage to the economy that the poster would likely be worse off. Obamas tax cuts are mostly give aways to people at or around the poverty level as he will increase the EIC and the amount one claims on dependents. Hes taking money from people in the UMC and up and giving it to people at or around the poverty line. I wouldnt be agaisnt it if poor folk in this country didnt already have a good deal. I know because I have lived it
I spent the last 5 years in a very rural part of the country putting my wife through school driving a bus. We were eligible for food stamps, kids on medicaide and dental, wifes tuition and books more than covered by a pell grants and scholarships (decent state school). For the last 3 years while I was paying in somewhere around $2500 total fed and state income taxes I was getting a return of almost $7000. Thats 4500 a year the government was taking away from high earners and handing to me. My wife graduated summa *** laude and found a great paying job so we had to move. Life is great for us now and it was through the help of these programs that we were able to put her through school and pull ourselves out of a rough spot.
My point is that there is already plenty of programs and income redistribution in place to provide anyone an opportunity to lift themselves out of poverty. There is no need to tax high earners even more and if that happens it will have detrimental effects on the economy .
Quote:
Originally Posted by SLCPUNK
You're playing semantics.
Obama has been very clear on whose tax cuts will end. The tax rate should be about the same as it was under your hero Reagan.
Corporations need to pay their fair share of taxes too.
I'd bet, dollars to donuts that Obama's tax cuts would actually benefit you.
Obama doesn't need to win Ohio or Florida, as long as he wins Virginia or Colorado. Most of the Midwestern states except for MO, IN, and the Great Plains states Obama should win, as well as all of the Northeast/Mid-Atlantic, West Coast, and Hawaii.
Obama doesn't need to win Ohio or Florida, as long as he wins Virginia or Colorado. Most of the Midwestern states except for MO, IN, and the Great Plains states Obama should win, as well as all of the Northeast/Mid-Atlantic, West Coast, and Hawaii.
The bad news for the republicans is that many of the red states are now up for grabs. Just like we've seen three congressional districts-historically red-go blue as of late. Voted right out on their butt. It's certainly a sign of things to come this November.
Yeah, I guess that depends what your definition of wealthy is. When Clinton was in office, someone who made $50,000 was wealthy. I don't believe for a second that he is not going to raise taxes. He is going to eliminate the tax cuts that Bush has enacted. He is going to raise taxes on small business. Obama WILL raise taxes; he has to to support all his social programs. And not just wealthy, either. And I'm not wealthy - but why should the wealthy pay a disproportionate amount of their income in taxes? Just because they are rich they have to share their money with everyone else? How is that fair?
If you read Obama's tax plan, it details that 85% of American households will see a reduction in taxes. Overall tax will increase by $560bn over ten years (remember that double that figure has already been spent in 5 years in Iraq). The $560bn will come from a higher corporate tax (especially by those who have offshore operations), but lower on small businesses. It will also come from a higher tax on those earning over $250k, and from a diversion of funding to the war (once it is ended responsibly), plus a cut in what Obama's administration would deem as inefficient federal programs.
You may not agree with higher corporate taxes, or higher taxes on the top 1% of earners, but at least that money will be invested in R&D, infrastructure, and alternative fuels (also creating jobs). Also, if the majority of Americans are paying less taxes, they well consume more, and therefore business opportunity and profit should still prosper. Now, I know that sounds very idealistic.. but compare those intentions with the past 8 years, and the promise of more from Mccain/Palin.
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). I own a small business and of course I take all the deductions I can; it would be stupid not to. And I pay a lot in taxes.
