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Its not abuse to post facts. You might not want to hear it, but thats not my problem. Did I hurt your feelings by posting facts like, 51% of americans pay ZERO?
Why dont we post some more facts to make you angry
The average tax rate for a family of four is 4.7%.
Um, corporations dont make money on stocks, stockholders do, ironically many of them middle class americans Stocks are a liabilities to corporations, not an asset.
Just goes to show the enormous wage discrepancy.
That 51%; what percentage are middle class? That must mean that 47% of the middle class are essentially funding the country (2% wealthy, who know all the loopholes and how to hide money don't count). But you want them to pay more...!
Along with historically low taxes on the middle class, they are also historically low for the wealthy. Who has more to contribute? If that sounds too 'liberal' for you, then I would be very happy with just a flat tax with no loopholes; no sending money off-shore to foreign bank accounts, etc.
That 51%; what percentage are middle class? That must mean that 47% of the middle class are essentially funding the country (2% wealthy, who know all the loopholes and how to hide money don't count). But you want them to pay more...!
The bottom 50% pay a TOTAL of about 12-13% of the expenses for the nation, no where close to "funding the country"..
Quote:
Originally Posted by Fox Terrier
Along with historically low taxes on the middle class, they are also historically low for the wealthy.
The tax rate is histically low because it increases the tax liability for them. If you encourage the "wealthy" to invest, it increases their profits, and thus it increases how much they pay in taxes.
Quote:
Originally Posted by Fox Terrier
Who has more to contribute? If that sounds too 'liberal' for you, then I would be very happy with just a flat tax with no loopholes; no sending money off-shore to foreign bank accounts, etc.
Fine with me!
What the hell does "who has more to contribute" have to do with the discussion? Clearly that would again be discussing wealth, and we DO NOT TAX WEALTH..
I think the best thing to do with the income taxes paid by rich people is to eliminate tax loopholes and complexity that allow them to pay less than they might correctly pay.
Eliminating tax loopholes is really a tax code simplification issue. I could tolerate a modestly progressive tax code, but it has to be far less complex than it is now. It is ridiculous that with a home mortgage, children, a few charitable donations, some capital gains, etc. it takes me many hours with Turbotax to complete a federal tax return.
We should stop creating tax related reasons for people, rich or poor, to do strange things they wouldn't ordinarily do. All typical income tax deductions used today by people of average income levels should be eliminated or phased out.
The payroll tax should not be capped for ordinary income.
Corporate tax should be eliminated. Corporations should have no incentive to hide income, spend more than they should to manipulate their balance sheets, nor hide money overseas.
I think the best thing to do with the income taxes paid by rich people is to eliminate tax loopholes and complexity that allow them to pay less than they might correctly pay.
Eliminating tax loopholes is really a tax code simplification issue. I could tolerate a modestly progressive tax code, but it has to be far less complex than it is now. It is ridiculous that with a home mortgage, children, a few charitable donations, some capital gains, etc. it takes me many hours with Turbotax to complete a federal tax return.
We should stop creating tax related reasons for people, rich or poor, to do strange things they wouldn't ordinarily do. All typical income tax deductions used today by people of average income levels should be eliminated or phased out.
The payroll tax should not be capped for ordinary income.
Corporate tax should be eliminated. Corporations should have no incentive to hide income, spend more than they should to manipulate their balance sheets, nor hide money overseas.
Perfect example, hedge fund managers.
They are allowed to pay the capital gains tax rate of 18% on their income taxes, even when making millions or billions.
I think the best thing to do with the income taxes paid by rich people is to eliminate tax loopholes and complexity that allow them to pay less than they might correctly pay.
Eliminating tax loopholes is really a tax code simplification issue. I could tolerate a modestly progressive tax code, but it has to be far less complex than it is now. It is ridiculous that with a home mortgage, children, a few charitable donations, some capital gains, etc. it takes me many hours with Turbotax to complete a federal tax return.
We should stop creating tax related reasons for people, rich or poor, to do strange things they wouldn't ordinarily do. All typical income tax deductions used today by people of average income levels should be eliminated or phased out.
The payroll tax should not be capped for ordinary income.
Corporate tax should be eliminated. Corporations should have no incentive to hide income, spend more than they should to manipulate their balance sheets, nor hide money overseas.
I agree with all of this, especially the line I bolded. Wish I could rep you twice.
Why should they do that? Do you have any reason to believe that they would choose to take lower profits instead of simply passing on costs?
The point of this thread was to find out what the wealthy and wealthy corporations can do in our country's time of need. They certainly can CHOOSE to take lower profits if they wanted to aid the nation.
I doubt very much that it will cause them go hungry for even a millisecond.
So income and wages are different in your opinion?
The bottom 50% pay a TOTAL of about 12-13% of the expenses for the nation, no where close to "funding the country"..
Well, if 51% pay NO income tax (according to you) and 50% pay 12-13%, doesn't that make 101%? Who are these secret people that pay the balance?
The tax rate is histically low because it increases the tax liability for them. If you encourage the "wealthy" to invest, it increases their profits, and thus it increases how much they pay in taxes.
Yes, isn't that something like the trickle-down theory? It doesn't seem to have worked very well...
What the hell does "who has more to contribute" have to do with the discussion? Clearly that would again be discussing wealth, and we DO NOT TAX WEALTH..
I'm a little confused (or you are). Are you saying that someone can have no income but be wealthy at the same time? Yes, I suppose some can, and they sure know how to work the system. Live off the interest on your 'wealth' and watch the rest of the country go to crap. Maybe for the uber wealthy interest income is not taxable, unlike for the rest of us.
not a single example of a corporation paying taxes that arent passed along to their customers....
come one people think policy thru to its natural conclusion.
hmm...
I think I gave you more than a few.
Were they all incorrect?
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Stocks are a liabilities to corporations, not an asset.
huh?
