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You just restated my point. A man making $5,000,000 a year through exploiting loopholes in the system pays nothing, yet the kid saving for his first car working 20 hours a week every day after school pays more?
Except for the matter that the wealthy pay more in taxes...I believe the figure is over 50% now of eligible American households that do not pay federal income tax....
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You... don't see a problem with this? I'm just asking when the rich will do their part. Oh wait... They won't. They've got the majority party in the house in their pockets.
The problem I see is where some pay a higher percentage than others,now if you want to discuss something being unfair,that would be it.
About 47 percent will pay no federal income taxes at all for 2009. Either their incomes were too low, or they qualified for enough credits, deductions and exemptions to eliminate their liability. That's according to projections by the Tax Policy Center, a Washington research organization.
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In recent years, credits for low- and middle-income families have grown so much that a family of four making as much as $50,000 will owe no federal income tax for 2009, as long as there are two children younger than 17, according to a separate analysis by the consulting firm Deloitte Tax.
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The result is a tax system that exempts almost half the country from paying for programs that benefit everyone, including national defense, public safety, infrastructure and education. It is a system in which the top 10 percent of earners -- households making an average of $366,400 in 2006 -- paid about 73 percent of the income taxes collected by the federal government.
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The bottom 40 percent, on average, make a profit from the federal income tax, meaning they get more money in tax credits than they would otherwise owe in taxes. For those people, the government sends them a payment.
Nearly half of US households escape fed income tax - Yahoo! Finance (http://finance.yahoo.com/news/Nearly-half-of-US-households-apf-1105567323.html?x=0 - broken link)
Or it's more like... One tenant pays little to no rent through a hole in the contract and have a massive income and complains about it being too high while the tenants with the lowest income pay more rent and get no maintenance services while they're at it and would willingly pay more to have them... however, they wish the rich prick would actually pay his fair share so the landlord can afford to give them their maintenance services back.
So how does your fairy tale square with the fact that the top 10% of earners are paying 70% of the total federal income taxes collected? What would be a fair proportion of the total for them to pay, if 70% isn't enough? 80%? 100?
You just restated my point. A man making $5,000,000 a year through exploiting loopholes in the system pays nothing, yet the kid saving for his first car working 20 hours a week every day after school pays more?
You... don't see a problem with this? I'm just asking when the rich will do their part. Oh wait... They won't. They've got the majority party in the house in their pockets.
Please name a single tax loophole that is available to the wealthy that is not available to the middle class. I am far from wealthy, and yet the most I have ever paid in income taxes has an effective yearly rate of 10.5%.
Maybe instead of complaining about the wealthy taking advantage of 'loopholes' you could educate yourself on the tax system and take advantage of them yourself. Don't punish someone else because you didn't take the time to study the American tax system and they did.
So how does your fairy tale square with the fact that the top 10% of earners are paying 70% of the total federal income taxes collected? What would be a fair proportion of the total for them to pay, if 70% isn't enough? 80%? 100?
The top 10% earn more than the entire federal budget! Nobody wants to screw anyone over.. I believe its good to be rewarded for hard work and creativity. But its about taking fair responsibility for America's fiscal need - tax those who can afford it and cut spending not to screw anyone over either.
Please name a single tax loophole that is available to the wealthy that is not available to the middle class. I am far from wealthy, and yet the most I have ever paid in income taxes has an effective yearly rate of 10.5%.
Maybe instead of complaining about the wealthy taking advantage of 'loopholes' you could educate yourself on the tax system and take advantage of them yourself. Don't punish someone else because you didn't take the time to study the American tax system and they did.
This is a good point,what are the SPECIFIC tax loopholes ONLY available to the fabled rich?
The landlord is very irresponsible with the rent money that they collect.
They realize that they will lose the property if they do not get more money.
They raise your rent for additional revenue, but not the other tenant because you earn more money.
Then they spend that extra money irresponsibly.
They come back to you for more revenue.
How long will you continue paying more?
This is exactly the position we are in with our government.
This is a typical nonsense statement - you are comparing a $14tn debt that has been created by decades of policy (from both parties) to 'renting an apartment from a landlord'???? And in your situation the 'irresponsible landlord' is the government, and the 'tenant' is the poor taxpayer!!
Please don't compare a $15tn economy with a single market transaction - its downright ridiculous.
This is a good point,what are the SPECIFIC tax loopholes ONLY available to the fabled rich?
I can't believe you need this explained but: reforming the tax code isn't about the individual, it is about a fair system. If the $1m profit that a hedge fund manager can be written off as a 'capital gain', or a private Gulf Stream can be considered a corporate asset and tax deduct then this isn't a fair system. If I could afford a Gulf Stream or make $1m from hedge funds then it would apply to me too.
My wife and I pay taxes (to the US and UK government) on what we earn - so how can GE pay zero taxes on $15bn? It wouldn't be so bad if they actually employed more people but they actually cut 5% of the workforce!
Oh, and BP just announced a $6bn profit for the last P&L - I wonder what the tax bill will be against the 'goodness' for society this will bring - I'm so excited
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