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I wrote a five thousand dollar check to the IRS yesterday. Yet the Reps have nominated a man who pays a lower income tax rate than I do and they expect me to vote for that greedy, useless pig. It's disgusting.
Your capitol gains income is taxed at exactly the same rate as his it, assuming, of course, one has enough "on-the-ball" to have any.
I wrote a five thousand dollar check to the IRS yesterday. Yet the Reps have nominated a man who pays a lower income tax rate than I do and they expect me to vote for that greedy, useless pig. It's disgusting.
How does the fact that you live paycheck to paycheck, or nearly so, make Mr. Romney a pig? Your failures are yours alone, and if you have not been awake enough to let your money work for you, well that is YOUR FAULT.
When I use the word "system", it's in reference to all the things we are entitled to as citizens that get paid for using tax dollars....public facilities and services, roads, schools, police, fire, rescue squad, etc....
Higher income people driving up the price of homes and creating a burden for lower income people is debatable. What if you're a lower income person that already owns a home and higher income people do actually do drive the price of homes up. It doesn't change what you paid for your home or what your mortgage payments are....it in fact increases your net worth by increasing the equity you have in your home.
If someone is trying to find housing in an area where everyone has a higher income than them and has pushed the price of housing up in that area, then they're shopping in the wrong neighborhood. They're looking for housing that's beyond their means, it's not the fault of all the homeowners in that neighborhood.
Besides all that, what does that have to do with why they should have to pay a higher income tax rate? They're already paying property taxes that based on the value of the high priced home they bought.
Lower income people who already own a home are mostly older people living on lower fixed retirement incomes. Fortunately they also tend to no longer have mortgages to pay, plus many states offer tax breaks to these people.
I was in the position of living in an affordable area which became gentrified and unaffordable. Was I shopping in the wrong area? Should I have to move out because outsiders with more money want to move in? Should poor people have to live as nomads, settling for whatever is rejected by everyone else?
Federal Taxes
Capital Gains Tax = 15%
Corporate Tax = 35%
Death Tax = 35%
International Tariffs = 150%
Property Tax = 15%
Sales Taxes = 10%
Last but not least, I'd pass a federal mandate banning offshore accounts and outsourcing. I'd make companies pay at least %150-percent in tariffs for every job outsourced overseas and things imported back into America. I'd make it more expensive fort hem to do that than pay someone $20 an-hour to do the same thing in America. In addition, I'd make them automatically pay income tax every time they pulse money from one of their offshore accounts.
That way, they'd have to fly all the way to Switzerland or the Cayman Islands to pulse the money out which can cost lots of time and money. Basically, I'd get rid of ALL the tax loopholes - every single one of them. If the wealthy want to donate to charity, that's fine. Don't let them fool you when they say they all do it magnanimously. They do it because of the tax writeoffs and loopholes involved.
Oh hell. Just do it. I'm old enough for social security, and with this I should get a big raise so I can actually retire. Go for it.
Federal Taxes
Capital Gains Tax = 15%
Corporate Tax = 35%
Death Tax = 35%
International Tariffs = 150%
Property Tax = 15%
Sales Taxes = 10%
Last but not least, I'd pass a federal mandate banning offshore accounts and outsourcing. I'd make companies pay at least %150-percent in tariffs for every job outsourced overseas and things imported back into America. I'd make it more expensive fort hem to do that than pay someone $20 an-hour to do the same thing in America. In addition, I'd make them automatically pay income tax every time they pulse money from one of their offshore accounts.
That way, they'd have to fly all the way to Switzerland or the Cayman Islands to pulse the money out which can cost lots of time and money. Basically, I'd get rid of ALL the tax loopholes - every single one of them. If the wealthy want to donate to charity, that's fine. Don't let them fool you when they say they all do it magnanimously. They do it because of the tax writeoffs and loopholes involved.
Your plan is a national cyanide capsule.
Let me help you. America is about the people, their wants and aspirations, not the government, the governing class and their insatiable gluttony.
I lived through the Reagan tax cuts in the 1980s. My neighbors became considerably more affluent during that decade.
You should probably be looking at what your neighbors did right where they became affluent and here you are 25 years later constantly complaining on a message board that you are still too poor to afford anything and still don't have any skills to earn more money.
Yet the Reps have nominated a man who pays a lower income tax rate than I do and they expect me to vote for that greedy, useless pig. It's disgusting.
Yup, damn him for having secretly written the current US Federal tax code for capital gains in his spare time while he was CEO of the Winter Olympics, and for having the gall to abide by the rules of it instead of just sending extra money in.
I think it boils down to lobbyists. People with tons of money to burn can hire armies of lobbyists and smooth talking prostitutes to ensure that they get their taxes cut. The prostitutes are also called Republican Legislators. They don't work for you.
Ok so for everyone lambasting me about something I already know about - effective vs. marginal tax rates... I just did the math. My effective tax rate based on my taxable income is 26.7%. Mitt Romney paid 13.9% and 15.4% in the last two years respectively. Warren Buffett's was somewhere around 11%. So it's still about half the rate I pay.
You should probably be looking at what your neighbors did right where they became affluent and here you are 25 years later constantly complaining on a message board that you are still too poor to afford anything and still don't have any skills to earn more money.
Two things:
1) A lot of my neighbors worked in state government or a nearby college, there were a lot of raises going around. Tenure is awesome for those who have it.
2) Since the college tuition was soaring, the students who lived in this town were considerably more affluent than the students who lived there in the 1970s.
Since I had a lowly private sector job and couldn't afford the soaring tuition, I missed the boat.
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