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I can guarantee you that a millionaire isn't a millionaire due to his "income". They will be happy to have you think they are progressive by allowing the government to tax their income. "Tax me here, but don't look over there".
That's how they get the liberal attack dogs off their backs, by asking government to raise taxes on the rich. They know they have accountants who will just find loopholes to deduct their way around any new increases, Heck, they probably bought senators who will add new loopholes for them.
you STILL DONT get it do you? i am not saying that they are under reporting deductions, what i am saying is THEY WILL FIND NEW ONES. my premise isnt false, your deduction of my premise is what is false. and it isnt just deductions either, as you left out much of what i posted, including passing the cost of the higher taxes onto others, cutting expenses, etc.
as i said before these people are not stupid otherwise they would not be rich. they will find ways to avoid paying the higher taxes. in fact here is one way i overlooked, tax free foundations. look it up you might get an education.
Exactly. They are not stupid. If they knew about more deductions to claim, they would have. A 3% raise to their top marginal rate is not going to send them hunting for a deduction that's been there all along.
What does it matter if these people are millionaires or not, they still need to mind their own business, and quit trying to use the power of government to ram their ideology down throats of everyone.
If you, or anyone else thinks they should pay a 25% or 35% tax rate, then calculate it and pay it. No one is forcing these wealthy people to take tax deductions. Obama and Biden are good examples of this, if they think their fair share is 30%, then stop taking deductions. Obama only paid a 20% tax rate, while his secretary pays a higher rate.
The problem with liberals is, if they get a single thought freaking in their head, they run to government and try to force everyone else to adopt that same thought, or face the wrath of government fines and punishments.
How is that any different than any policy ever enacted. Name me one law this country has passed that had 100% support. Either that or you can admit that your entire point is nonsense.
Aside from that, the point of this isn't discussion isn't about the rich contributing more to make themselves feel good. It's a discussion on the merit of the argument against raising taxes on the rich. The very group on whose behalf that people like you are fighting for are telling you that you're full of chit!
Unless of course you're one of those people that calls any tax theft, in which case, the Constitution is there to tell you that you're full of chit...
i know EXACTLY how taxes work. remember i have tax accounting training. if a business makes $500,000 per year, they are taxed at a particular rate, in this case 35% at this point. but they dont PAY that rate, as they have deductions, allowances, and loopholes they can use to LOWER their taxable income, the reducing the amount of tax they pay. if you were to raise their tax rate to 38%, the business owner might tell you they are fine with you doing that, and then turn around and tell their accountant to cut expenses, find another deduction, allowance, or other loophole they can use to lower their tax payments, or they will pass the costs onto their customers.
for example, lets take a full service hotel for instance. this includes a full service restaurant and bar, and perhaps live entertainment. now lets say you raise the tax rate this hotel pays each year. the owners have several options to reduce the costs of the higher taxes;
1: they can raise room rates
2: they can increase food and beverage prices
3: they can cut back on or eliminate the live entertainment
4: they can shorten the hours of the restaurant and bar
5: they can cut back on the amenities in the rooms
6: they can do a combination of all of the above.
and yes i have worked in the hotel business for 25 years so i know what they can and will do to maintain their profit margins. and these are only a FEW of the things i can think of that a hotel can do to cut costs.
What libs fail to realize is that all the restaurants and hotels are competing with each other. If we lowered their tax burden they would have more money available to compete with and would do the opposite of 1-5, which actually ends up by -- spreading the wealth around, to the local community and beyond.
Exactly. They are not stupid. If they knew about more deductions to claim, they would have. A 3% raise to their top marginal rate is not going to send them hunting for a deduction that's been there all along.
you need to go talk to some rich people. i have, and i know what they would do.
Quote:
Originally Posted by OICU812
What libs fail to realize is that all the restaurants and hotels are competing with each other. If we lowered their tax burden they would have more money available to compete with and would do the opposite of 1-5, which actually ends up by -- spreading the wealth around, to the local community and beyond.
yep, thats the thing that liberals forget. they think about step one, but forget about everything else. "we have to raise taxes on the rich". the rich then turn around and cut expenses, including JOBS.
liberals dont understand that pro growth tax codes, regulations, etc. benefit EVERYONE, not just a few.
How is that any different than any policy ever enacted. Name me one law this country has passed that had 100% support. Either that or you can admit that your entire point is nonsense.
Only nonsense if you are a freaking big government lib.
If you think you should pay higher taxes, then go ahead and pay more, STOP TAKING DEDUCTIONS!
If you can't think of any worthwhile way to spend your money, and think that some nameless faceless bureaucrat could find better use for it, pay higher taxes on your own, and STOP TAKING DEDUCTIONS!
And if you still think you aren't paying enough, cut a check to the US Treasury.
But don't assume everyone else is as clueless as you, as to best invest, donate, or manage their money too.
Only nonsense if you are a freaking big government lib.
If you think you should pay higher taxes, then go ahead and pay more, STOP TAKING DEDUCTIONS!
If you can't think of any worthwhile way to spend your money, and think that some nameless faceless bureaucrat could find better use for it, pay higher taxes on your own, and STOP TAKING DEDUCTIONS!
And if you still think you aren't paying enough, cut a check to the US Treasury.
But don't assume everyone else is as clueless as you, as to best invest, donate, or manage their money too.
Got it... you're one of those "any tax is theft" types.
Got it... you're one of those "any tax is theft" types.
no, he is like i am, government needs money to operate, and do what they are constitutionally required to do. taxes are fine, excessive taxation on the other hand hurts everyone.
no, he is like i am, government needs money to operate, and do what they are constitutionally required to do. taxes are fine, excessive taxation on the other hand hurts everyone.
Lol... so what's your argument then when the people on whose behalf you're fighting are saying that asking for more from them isn't excessive taxation?
you need to go talk to some rich people. i have, and i know what they would do.
yep, thats the thing that liberals forget. they think about step one, but forget about everything else. "we have to raise taxes on the rich". the rich then turn around and cut expenses, including JOBS.
liberals dont understand that pro growth tax codes, regulations, etc. benefit EVERYONE, not just a few.
Remember the old days, when those filthy rich gas station owners hired five high school kids to pump your gas, check the oil, tires, wipers etc...? Now we have taxed and regulated them so much, that they automate most of it and no one is checking tires. Remember when Obama claimed we could save million of barrels of oil, just by checking tire inflation? Think about how many accidents were prevented, and how much oil we saved, when people had a quick safety check done at each fill-up?
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- spreading the wealth around, to the local community and beyond.
