The Rich Do Not Pay The Most Taxes, They Pay "ALL" The Taxes! (John Kerry, lawyer)
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Why should anyone have to pay taxes AGAIN on money that THEIR PARENTS earned and has ALREADY BEEN TAXED ONCE as income when their parents earned it??
Pretty good racket when you can keep taxing the same money earned by the same people over and over again.......
If I hire you to mow my lawn, I pay you with money that has already been taxed once.
Should you then not be obligated to pay taxes on the money I pay you for mowing my lawn because it's already been taxed once?
Honestly, the inheritance tax is nothing 99.99% of ANY of the people on this board should be or ever will be worried about. And most generational wealth is sheltered in numerous ways.
In fact, that we spend so much time as a nation DEBATING and dealing with the inheritance tax just goes to show you how much undue influence and control that 0.1% has on the politics and resources in this country.
I don't really care what Obama thinks about who is or is not rich.
I think Americans truly do not understand how GROSSLY disproportionate the share of income, assets, and wealth is amongst the sliver of people within the 1% category. And honestly, even the 1% can't hold a candle to that which the 1% of 1% controls.
Concentration of wealth and income in a few hands is a far greater danger than concentration of higher tax rates.
If I hire you to mow my lawn, I pay you with money that has already been taxed once.
Should you then not be obligated to pay taxes on the money I pay you for mowing my lawn because it's already been taxed once?
Honestly, the inheritance tax is nothing 99.99% of ANY of the people on this board should be or ever will be worried about. And most generational wealth is sheltered in numerous ways.
In fact, that we spend so much time as a nation DEBATING and dealing with the inheritance tax just goes to show you how much undue influence and control that 0.1% has on the politics and resources in this country.
even with the exemption being at 5 million it will still effect small business and farms
the average family farm is not a valueless thing...many grain farmers are farming lots of land that is in the 1000's of acres...and with the value of land being in the 1000's of dollars per acre.
Quote:
I am a grain farmer of 4,500 acres who I work along with my two brothers, father and mother. Family farms have increased in size because it has been necessary to to stay profitable. Profit margins have decreased over the decades, therefore in order for a farmer to stay profitable, they have to produce more of that product. When I graduated college in 2004 i was attending a farmers meeting, and a man read off the closing price for corn on Chicago Board of Trade. It was $2.10 a bushel. Then he read off the archive list of where corn closed for the week in 1974. It read $2.34. So in 30 years the price had basically stagnated. However the rise of inflation for the cost of operation and standard of living had increased drastically.
They send large checks to the IRS? Extremely doubtful. Given their marginal tax rate and adjusting for all their allowable deductions, they're very likely only paying very close to the IRS's reported average of 8.7%.
The known FACTS are NOT on your side.
I have to say, your assumptions about what they pay are not FACTS. You have NO knowledge, ZERO FACTS about their allowable deductions. So you're conclusions, based on ZERO knowledge, are dubious at best.
Why should anyone have to pay taxes AGAIN on money that THEIR PARENTS earned and has ALREADY BEEN TAXED ONCE as income when their parents earned it??
Pretty good racket when you can keep taxing the same money earned by the same people over and over again.......
Let's say Mitt Romney hires his son, and pays him $4M for a project. Would you suggest that his son shouldn't be taxed on that income b/c that money has already been taxed?
Or are you saying the act of doing nothing for your money entitles you to not be taxed on it?
I have to say, your assumptions about what they pay are not FACTS. You have NO knowledge, ZERO FACTS about their allowable deductions.
BS. I DO know that given even the marginal rate at that income level, they are NOT paying a 30+% effective federal income tax rate as that grossly misinformed poster erroneously believes.
WAY too many posting here are math challenged, and have NO clue of which they speak.
BS. I DO know that given even the marginal rate at that income level, they are NOT paying a 30+% effective federal income tax rate as that grossly misinformed poster erroneously believes.
WAY too many posting here are math challenged, and have NO clue of which they speak.
Oh, BS to you too. The post you responded to merely said they were writing large checks. YOU are the one arguing that the are only paying in the neighborhood of 8%. Based on NO knowledge of their specific circumstances. You seem to be truth-challenged.
They send large checks to the IRS? Extremely doubtful. Given their marginal tax rate and adjusting for all their allowable deductions, they're very likely only paying very close to the IRS's reported average of 8.7%.
The known FACTS are NOT on your side.
The following 3 minute Youtube link with Warren Buffet and his secretary proves, that everything you said is untrue, a manipulation, and also a lie. (you must click the blue words bellow the screen to watch the video.)
The subject of this thread is untrue, a manipulation, and a lie. Watch the following 3 minute news story with Warren Buffet and his secretary. (you must click the blue words bellow the screen to watch the news story.
''painfull checks"".... "hurts".........so big it hurts??? what does that mean.....
meanwhile earning 100k get you a std deduction of 12k plus the personal exemption of 3700 per person in the household...meaning a household of a husband and wife can write off 20k right off the top...before any other deductions......meanwhile most are paying every payperiod...which means at the end of the year they certainly wont be writing a "painful check"...and will likely be getting a check BACK
if you understood anything you would know how the min wage HURTS the workingclass....unions are just corporations that do NOTHING for the individual worker...infact they HURT the individual performer....unions are against 'pay for performance" and personal responsibility.....workers tax credits...we already get many....everyone can write off business/job related expenses...to include the price of looking for a job
Any (MAN) who is not a homosexual with a fetish for rich CEO's, would (not) have found those words meaningless.
Chad.
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Extremely doubtful. Given their marginal tax rate and adjusting for all their allowable deductions, they're very likely only paying very close to the IRS's reported average of 8.7%. 
