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My main problem is not in paying taxes - it the fact that
1. We have no say in how our tax dollars are spent
2. Govt spends our money in some ridiculous ways
3. Too many people abuse the system and refuse to work.
Take the old story:
5 people are stranded on a deserted island - they are all equally able bodied.
4 of the people work gathering food, fish, making shelter, etc.
The 5th person refuses to do any work
The question: Should the 5th person be given food, shelter, etc.
If you are really seriopus that would mean that many should have no say in how taxes are sepnt. Doi you seious want your say based on the taxes you personally pay. that would mean most likel;y your say ends once you vote. Your example is based on a uncivil society ;so move to that island becuase it isn't going to happen anyhwere in the western world.Cam eclose in geramny ;but no cigar.
Lets take a look at what the numbers really mean. Fact the top 1% make 21% of the total income. They pay 34% of the income tax. The income tax makes up 46% of the total revenue for the Federal Government.
Tells me that the top 1% pay only 16% of the total revenue, while making 21% of the total income. Maybe the top 1% should pick it up a little.
The massive operation involved some 300 special agents across the country and is expected to result in numerous indictments on tax evasion and money laundering charges.
These raids are the latest salvo in an expanding war by the IRS (http://buffalo.bizjournals.com/sanantonio/related_content.html?topic=IRS - broken link) on what it perceives as a new wave of abusive financial products in the form of foreign and domestic trusts designed to avoid U.S. income tax liabilities. We previously reported on the IRS' attack on secret offshore credit cards, which are marketed to those interested in concealing their financial operations from the prying eyes of the government. [For the article, IRS Tracking Unreported Income Through Offshore Credit Cards, see the San Antonio Business Journal, Feb. 2, 2001, or see (http://www.strasburger.com), or (sanantonio.bcentral.com/sanantonio/stories/2001/02/05/focus2.html (http://sanantonio.bcentral.com/sanantonio/stories/2001/02/05/focus2.html - broken link)). The foreign trusts targeted in the new IRS raids are closely related to the secret credit cards.
I strongly disagree with the OP's statement. Not only do the wealthy have access to loopholes unavailable to most Americans which enables them avoid paying taxes and/or to cheat tax system, they have knowledge of and access to offshore banks that the average American is not even aware exists.
Additionally, they employ a brigade of tax attorneys that assist them to successfully hide money and evade paying taxes on multiple billions of dollars being hidden in offshore bank accounts. A number of executives of UBS were recently indicted for aiding and abetting such schemes, ordered to change their laws and pay restitution. While the above excerpt is from 2001, the crackdown continues.
Oh I agree there certainly must be if you have a big enough income, but not for the average business owner.
I was a little stunned by that statement.
I know a lot of people who strive to live in a class above that in which they were raised.
My Mom grew up dirt poor (some days only dandelions for dinner) - she strove for a better life. I grew up on the low end of middle-class - strove for a better life. Are we unusual from the norm?
I went back and re-read what I wrote. What I meant and said wrong was that no one strives to live BELOW the level in which they were raised. My goof!
And yes.. we all do strive to live better.. but the way things are going in this country right now, I'd be happy if I could just stay middle class..as i'm finding it a struggle just to maintain and though I work as hard as my parents did, I have nowhere near what they had at my age (ie: savings, comfortable middle income lifestyle) despite doing all the right things.
I went back and re-read what I wrote. What I meant and said wrong was that no one strives to live BELOW the level in which they were raised. My goof!
And yes.. we all do strive to live better.. but the way things are going in this country right now, I'd be happy if I could just stay middle class..as i'm finding it a struggle just to maintain and though I work as hard as my parents did, I have nowhere near what they had at my age (ie: savings, comfortable middle income lifestyle) despite doing all the right things.
Dear Mommy,
based on your exploits posted in other threads, you did NOT do all the right things.
based on your exploits posted in other threads, you did NOT do all the right things.
Actually I did the fundamentals correctly. I worked hard, saved for a down payment on a house. I did make some errors in judgement and had a lack of knowledge. For example; not being aware of how credit works. (I thought NOT having any lines of credit.. or no CC,w as a good thing.. I was wrong. ) and also i was nieve in what was going on in the market with mortgages..etc. I didn't see the collapse coming. I just assumed that with established credit after 2 years I could refinance into a fixed rate at or below what I was paying (6.95% - it was an ALT A loan). Had I established lines of credit prior to purchasing my house I would have been able to buy that house at a rate similar.. or more likely BETTEr than the initial rate for the first 2 years and I would have been fine. My mistake was giong ahead with the purchase of the home with the ARM. Lessons learned..
And so that everyone knows...I didn't just walk away. I short sold to a nice young couple that is very happy with the place...they are enjoying the fruits of my labor. as well as their own
But the point was..we work hard and aren't looking to have the biggest house, the best cars or wear designer clothes. We don't live a lavish lifestyle and aren't really trying to either.
I do believe that had my father been alive when I purchased the house, he might have been able to school me and guide me. We never talked money in our household and I really never got an education on how money works. My dad may have known better and might have advised me not to do it and why. But alas, my father had passed away.
I had a crash course .. and learned a harsh lesson. BTW.. I was hit twice in this economy.. First with the collapse of the housing market adn all my savings and homeownership dream smashed and second in the hit our busienss has taken (the one with my husband). We'll survive and it will pick up again when the economy does..but boy .. what a whallop we have been taking!
For those who keep claiming that high income earners are not paying their fair share
Data for calendar year 2003 released in October 2005 by the Internal Revenue Service. The share of total income taxes paid by the top 1% of wage earners rose to 34.27% from 33.71% in 2002. Their income share (not just wages) rose from 16.12% to 16.77%. However, their average tax rate actually dropped from 27.25% down to 24.31%
*Data covers calendar year 2003, not fiscal year 2003
- and includes all income, not just wages, excluding Social Security
.
The problem with this argument is two-fold:
1. It ignores the resource-level being supplied to the gov't vs the resource level available to the payer. When you look at % of assets, the Middle Class pay the greatest %, followed by the Working Poor.
The Rich skate.
2. It also ignores other "fees" (license renewal, etc) that have become so popular in the past 2 decades and property taxes and FICA.
Again, in descending order of burden: Middle Class, Working Poor, Rich.
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as well as their own
