Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
No wonder the people with money and influence don't feel connected to the rest of the population. It's as if they live in a foreign country at the top of the world, like their own private Switzerland, at heights so rarified they can't imagine life down below. Here's the article.
No wonder the people with money and influence don't feel connected to the rest of the population. It's as if they live in a foreign country at the top of the world, like their own private Switzerland, at heights so rarified they can't imagine life down below. Here's the article.
That's a very small slice of the rich. Most people Americans would consider rich pay more in taxes both in absolute dollar amounts as well as in percentage of income.
Read down a bit
"Certainly, many people who earn at least $1 million a year pay an effective rate of less than 30%. But they still pay a higher percentage than most people further down the income ladder."
That is because those down the line, who make very little pay, pay a smaller amount or no federal income tax. They pay FICA, state, local and sales tax however. The article the op posted is very much true.
That's a very small slice of the rich. Most people Americans would consider rich pay more in taxes both in absolute dollar amounts as well as in percentage of income.
Most rich people, and by rich I mean the top 0.1%, don't have incomes. This is a folly of the mainstream media. This is what Buffett doesn't want you to know.
No wonder the people with money and influence don't feel connected to the rest of the population. It's as if they live in a foreign country at the top of the world, like their own private Switzerland, at heights so rarified they can't imagine life down below. Here's the article.
Great idea for you. Trade places with one of those wealthy and pay their taxes since they pay so much more less then you and not their fair share.
They pay your taxes, and let us see the real truth, and i think we already know, the answer, so save it.
Hey my son will love to trade places with you this year, infact i will notify him that your going to pay his taxes, and he will be very happy to pays yours, since you pay more then him, he may even become your friend after that.
I respect people who made their own way, no matter how much income they make, then those who take freebies from our system, and don't have a care in the world about it.
Are your trying to keep the whole Country poor, because it is my wealthy friends who are the ones who give very freely and winningly of themseves to those who are in need. Not those who are poor.
And i don't care what they own, you act kind of jealous when you say those things, no matter how you slice it.
[quote=Kerby W-R;23860779]No wonder the people with money and influence don't feel connected to the rest of the population.
Yes. The extremely wealthy (not those making $250,000 + that are usually included) are different. They generally take a LOT more risks in order to make their money in investments in the American economy; unlike those very wealthy government employees who are protected by the safety net and perks that government jobs provide at tax payer's expense.
Read down a bit
"Certainly, many people who earn at least $1 million a year pay an effective rate of less than 30%. But they still pay a higher percentage than most people further down the income ladder."
That is because those down the line, who make very little pay, pay a smaller amount or no federal income tax. They pay FICA, state, local and sales tax however. The article the op posted is very much true.
Ehhh, I DID read the entire article. And no matter how you slice it, the rich as a whole pay more of their income in taxes, regardless of how you measure it. The rich pay less as a % in FICA taxes, but more in income tax, and they certainly do pay sales tax like everyone else.
From the article:
...using a very broad measure of income, and counting federal income and payroll taxes, the average effective federal tax rate for people making between $40,000 and $50,000 was 12% last year, according to estimates from the Tax Policy Center, an independent research group.
By contrast, the rate for those making more than $1 million was 20.1%.
No wonder the people with money and influence don't feel connected to the rest of the population. It's as if they live in a foreign country at the top of the world, like their own private Switzerland, at heights so rarified they can't imagine life down below. Here's the article.
Demonizing the rich is one of the basic distraction tactics for Obama. He does not want people to look at his failing Presidency so he distracts their attention. Same goes for racial tensions they create. This divides and angers the black race which causes a diversion of attention from Obama's failed policies.
Most rich people, and by rich I mean the top 0.1%, don't have incomes. This is a folly of the mainstream media. This is what Buffett doesn't want you to know.
Of course they have incomes...they just don't have earned income. The capital gains tax scheme that the GOP so ferociously defends is why they don't pay much in the way of taxes.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
