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I earn 60k..pay NOTHING in federal tax...but get clobbered by the state and especially the local...the property tax on my tiny 1400sf house on a tiny 60x100 lot....12k a year that alone is 20% of my GROSS
That is crazy...but of course our myoptic colleagues on the left only see what they want to see....the collective hive...damn that individual for wanting to get ahead...
I earn 60k..pay NOTHING in federal tax...but get clobbered by the state and especially the local...the property tax on my tiny 1400sf house on a tiny 60x100 lot....12k a year that alone is 20% of my GROSS
I love this. You pay NOTHING in federal tax? You're one of the "takers" as Fox News likes to call you guys. And your problem exactly is???
That's where we're not coming together. That's in reference to the straight up cuts that resulted from the July dust-up. Obama's position here hasn't changed .... 3:1 spending: taxes .... this article is just slicing up the package to play up the sensationalism... easy to do, sells papers. All media sources do it, regardless of political slant.
Again, the difference is what is counted as a cut vs. soemthing that would have occurred regardless....there is always sensationalism to selel papers, but few honest economic discussions
Not really.
Many stocks do not pay dividends, or the dividends are very small compared to the Capital Gains.
Also, an Estate will generally include real estate. No taxes are paid on the gains on the RE until it is either sold, in which case if the person bought another house no taxes are paid on the gain, or when it passes in the Estate, in which estate taxes then are paid.
Yea, and I consider myself a realist..when you add state and local taxes, effective tax rate is already 50% for many...
Who do you think feels the pinch of more of those taxes (since you're conveniently including local and state taxes)? Someone making $250K or
someone making $50K? How about someone making $25K, since they are more likely to be among those who end up paying zero in federal income tax, the convenient target of the right wingers?
80%????? EIGHTY PERCENT????? HAHAHA. That flushing sound would be millionaires leaving the country or at least placing the money into swiss or carribean accounts. Our tax income will probably drop. 80% is unrealistic, I can't even see the greatest income distribution advocate outside of karl marx suggesting that. Really you have to restart the poll with a realistic percentage to get a good response.
Exile on Main Street anyone? Millionaires (like the Stones) didn't move out of Britian for no reason.
Also, an Estate will generally include real estate. No taxes are paid on the gains on the RE until it is either sold, in which case if the person bought another house no taxes are paid on the gain, or when it passes in the Estate, in which estate taxes then are paid.
false
the estate is 'valued' by the government and then taxed
you might have to sell(quick dump) the house just to pay the taxes
FWIW - US Income Tax applies to US citizens no matter where they live. They do not have anywhere to run to so they might as well stay here and pay the taxes.
bailing out FAILED banks -- the alternative is a massive bank failure, driving the nation into depression
bailing out FAILED car companies -- that was a success. It raised more revenue than it cost.
forcing loans to companies that they knew would go bankrupt (the current news) -- a very minor item
extending unemployment -- ah, so having people destitute improves the economy?
omnibus spending -- that's merely procedural
a huge amount of money on bombs and missiles in libya, solmlia, and pakistan, bombing civilians -- not all that much money, with successful results
an unstimulating stimulus -- actually, the CBO and private economists disagree with your assessment. It was stimulative but %788B in stimulus, with $300B in tax-cuts, with the remaining $500b spread out over two years couldn't negate a 6% drop in GDP.
obamacare -- this saved government money
lot's of bad decisions -- yea, listening to Republicans
One must count state and local taxes, otherwise one could be taxed at a rate greater than 100%.
With an 80% tax rate on any income over $1,000,000, depending on where you live...[/quote]
This argument demonstrates your understanding of tax rate structure. Or, are you arguing against an idea that has never existed (an 80% tax rate?).
Quote:
Originally Posted by workingclasshero
agreed
I earn 60k..pay NOTHING in federal tax...but get clobbered by the state and especially the local...the property tax on my tiny 1400sf house on a tiny 60x100 lot....12k a year that alone is 20% of my GROSS
I think you make for an excellent candidate who should be paying more... the "leaches" as many right wingers would like to call you... after all, you are among those who is among half of Americans with zero federal income tax! Now, what if everything were like your property tax? Would that make your day? I can see you getting excited about the idea.
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