GOP Favoring the Richest Americans Again.

[NewXD40fun]

Originally Posted by Mark S.

If they did pay proportionately more your argument might hold water, but most of the wealthiest taxpayers take advantage of a number of loopholes and tax credits to keep their payments lower percentage-wise than many middle and low-income taxpayers.

Even though the wealthy take advantage of many of the same loopholes and tax credits that you and I take advantage of the rich STILL pay about 84% of ALL INCOME taxes.
And the top 1% pay 34% of ALL INCOME TAXES.

They pay MORE and at a higher rate than middle and low-income taxpayers.



Tom

[attackrott]

I hate stats like this because they dont mean crap. They are all subjective to were you live. I live in Springfield MO, $ 120K is a lot of money, if you make this and are not stupid you can live very very well, and save and invest. But make that in DC, NY, San Francisco or any high priced city and it is not much. The same is said with $ 26 k, this is not middle class this is poverty if you live in the above cities.

I am all for tax cutes the freaking government takes tooo much and wastes tooo much, I support anything that can help me save and invest more than I am already doing. It is sad that I think statistically anywhere form 1 to 5 present of families are regularly putting money into a retirement account every month. I don’t think this can be blamed on Democrats or Republicans but on the stupid psychology of Americans. This is fine if people want to piss away what they have but then don’t take it away form be because I am wise with what I earn.

It is funny when I hear democrats bash rich people for being rich or having off shore, shelter accounts and the republicans only favoring the rich; most every Democrats in government falls into that rich category. It is not just republicans that are very butt wealthy, these people make the laws you don’t think they know how to get around paying taxes legally.

What about doing away with the death tax,and making private savings accounts. These things will benefit the middle class but the Democrats are so against them. Why.

Junk all this stupid crap, we just need the FAIR TAX. www.fairtax.org Then you can deside how much taxes you pay, and you are rewarded to be wise.

[Mark S.]

Originally Posted by NewXD40fun

Even though the wealthy take advantage of many of the same loopholes and tax credits that you and I take advantage of the rich STILL pay about 84% of ALL INCOME taxes.
And the top 1% pay 34% of ALL INCOME TAXES.

They pay MORE and at a higher rate than middle and low-income taxpayers.



Tom

While the uber-rich may pay 34% of all income taxes, as a percentage of income they often pay less in taxes than low-income wage earners who cannot escape the payroll tax as opposed to the income tax.

[Delija]

Originally Posted by Brickboy240

...I'm not making this stuff up.

Quoting Rush Limbaugh now? Scary!

Originally Posted by Brickboy240

...Now, you want to continue the Estate Tax...

The estate tax...when was the last time you ever heard of anyone actually paying it?

Life insurance (which is 100% NOT taxable) usually pays estate taxes. Good estate planning avoids estate taxes. The richer you are, the more dollars you may pay in taxes, but the poorer you are, the greater percentage of your income is truly taxed.

BTW, do you know what the estate tax exemption is? It keeps changing (going higher) and won't ever effect me, so I am not up to date on it. But I think it's about $4million currently...so even if estate taxes are paid (and they virtually never are....who can liquidate a ranch or a farm or a business, or any taxable valued assets in 90 days?) there's still $4million (or whatever the correct number is) that is not taxed at all.

There are dozens (if not hundreds) of ways to avoid estate taxes. Have you ever heard of a wealthy family becoming less than a wealthy family due to estate taxes? People who are smart enough to accumulate wealth are smart enough to keep it....even if they have to pay someone to show them how.

Peace,
D.

[Brickboy240]

Rush Limbaugh? Well, if he says the same thing, he probably got it from the IRSs website as well. Are the numbers incorrect? If the IRS figures are to be believed, any tax reforms or cuts will never affect the poor...because they pay no income taxes! The media loves to throw out the little phrase "tax cuts that benefit only the wealthy" because it riles up those that are not well off, when in reality, the wealthy ARE paying most of the taxes and the poorest pay no income taxes at all. Intellectual dishonesty, if you ask me. How else can you paint that? I know the class warriors hate to hear that the wealthy are paying the freight for many right now and have since the income tax was instituted, but numbers are numbers and they're hard to argue any other way.

Also, so what if tomorrow, the Govt. decides to tax the wealthy at 3,4,5...maybe 10% more than they do today on their income. How is that goign to affect you in the middle or those at the bottom? Will they be happier, knowing the wealthy are "paying their fair share?" The class warriors can NEVER explain WHAT IS their fair share or justify it. Come on now...the argument sounds good to some, but simply does not hold water for 2 seconds.

Yes, the estate tax keeps changing and who can really understand most of our tax code to begin with. Its confusing, lop-sided and unnecessarily complex. The whole thing needs to be thrown out, but that will never happen, because like the illegal immigrant problem - too many of the powers-that-be make too much money the way the system works right now and theres no incentive for them to reform it. It doesn't mean its a bad or unpopular idea, it just means true, meaningful tax reform will never see the light of day.

The Govt. would not have to take in half of the income tax monies it does today, if it could truly reign in spending and only spend monies on what it is mandated to do so in the Constitution. Another thing that will never see the light of day, because those in the system tend to protect the system and the status quo.

Sad, but true.

All of this aside, to whine about wealthy people on this forum does none of the class warriors any good and never will. Like the gun control issue, 99% of it is emotionally based, not rooted in fact.

-Brickboy240

[Delija]

Originally Posted by Brickboy240

Rush Limbaugh? Well, if he says the same thing, he probably got it from the IRSs website as well.

No, I just meant that Limbaugh often says "I'm not making this stuff up" just to make his audience think he's about to tell them something completely outrageous. The thing is, half the time (or more) he IS making it up!

Peace,
D.

[Waldo]

The rich deserve tax cuts, they pay an unfair proportion of their taxes.

I am in what this article considers middle class.

If Republicans overwhelmingly favor the rich then why is it that in a Republican controlled government top executives are being prosecuted for money related crimes that happend during a democrat administration?

Perhaps Reno turned a blind eye?

[Brickboy240]

You got me.

Remember, the Enron execs did the lion's share of their dastardly deeds during the Clinton years. So did Ivan Boesky (spelling?), Global Crossing, Tyco and millionaire tax cheat Marc Rich (who was pardoned by Clinton...amazingly right after Denise Rich gave a nice donation to Clinton's AR library). The popular belief is that the Republican party is the party of the rich and for the rich, but if you look around, the Democrats have plenty of wealthy in their ranks and have given favor to wealthy people that have skirted the law on just as many occaisions.

Both parties are up for sale, seek out wealthy coprorate interests and are concearned with protecting their system first...don't kid yourselves.

- Brickboy240

[NewXD40fun]

Originally Posted by Mark S.

While the uber-rich may pay 34% of all income taxes, as a percentage of income they often pay less in taxes than low-income wage earners who cannot escape the payroll tax as opposed to the income tax.

Maybe you should read this report by the Congressional Budget Office to see the error of your ways.

http://www.cbo.gov/ftpdocs/57xx/doc5...edTaxRates.pdf



Many thanks to the Rush Limbaugh web site for this informative and factual link.


Tm

[Delija]

Originally Posted by Brickboy240

Ivan Boesky (spelling?),
Marc Rich (who was pardoned by Clinton...amazingly right after Denise Rich gave a nice donation to Clinton's AR library). The popular belief is that the Republican party is the party of the rich and for the rich, but if you look around, the Democrats have plenty of wealthy in their ranks and have given favor to wealthy people that have skirted the law on just as many occaisions.

Boesky?....I think it was during the Bush Sr. term that he was prosecuted. Maybe even Reagan. The crimes were committed during Reagan's term for sure. Besides, what is the relevance? All these characters were big Republican backers. Michael Milkin, Ken Lay, Bernard Ebbers, the guy from Tyco who's name I can't spell...all of them.

Marc Rich...his pardon had nothing to do with his wife's donation. I can't say how, but I know first hand what happened. Doesn't make it any less onerous, but the only significant difference is it had nothing to do with Clinton himself or any donations. I don't even know if Clinton had a clue as to who Rich was. He had been a fugitive for so long.

As for the Democrats having wealthy supporters as well as the Republicans...no kidding? LOL. The stereotypes and misconceptions are endless as to what a Democrat and what a Republican are.

XDFunny has mentioned at least 1000 times that the Dems are "gun grabbers". When I pointed out that the most outspoken "gun grabber" today is Michael Bloomberg (Republican mayor of NY), not a word in response from XDFunny. (No surprise there).

Things are different in different parts of the country. We have a government set up to represent those people. If the people in Massachusetts are more "liberal" than the people in North Dakota, wouldn't it make sense that their representatives would have different positions on different issues?

Bloomberg is the mayor of NY. If he was the mayor of Houston, I'm sure he'd be either 'pro-gun" or at least silent on the issue. That would be his job.

Of course the chances of a Jewish billionaire getting elected to anything in the deep south is not very likely.

Just as a complete incompetent like GWB could not get elected as dog catcher in a place like Boston, NY, Chicago, LA, SF, ....anyplace where the majority of people can speak in complete and grammatically correct sentences. And know how to eat with utensils. LOL

Originally Posted by NewXD40fun

Many thanks to the Rush Limbaugh web site for this informative and factual link.

Where's the "smiley" for vomiting?

Peace,
D.