1. Come and join our community by registering for free here and start discussing politics! HOP - the political discussion forum

One more time, who pays what in taxes

Discussion in 'Elections & Political Parties' started by dogtowner, Apr 19, 2012.

Page 1 of 2

  1. dogtowner Super Moderator

    Member Since:
    Dec 24, 2009
    Message Count:
    11,170
    Likes Received:
    635
    Trophy Points:
    113
    Location:
    Sec 9 Row J Seat 1 @ VCU home games
    dogtowner, Apr 19, 2012
    #1

  2. PLC1 Super Moderator

    Member Since:
    Apr 20, 2007
    Message Count:
    8,342
    Likes Received:
    210
    Trophy Points:
    63
    Location:
    The Golden State
    It's called a graduated income tax by most of us, but Marxism by others. Personally, I think it is a graduated income tax. Nothing wrong with that.

    Where the issue gets confused is the difference in rates between earned income and capital gains. The latter is taxed at a different rate than earned income.

    Why is that so? Obviously, it is because the people who make up the tax laws get most of their income through capital gains.
    PLC1, Apr 19, 2012
    #2

  3. dogtowner Super Moderator

    Member Since:
    Dec 24, 2009
    Message Count:
    11,170
    Likes Received:
    635
    Trophy Points:
    113
    Location:
    Sec 9 Row J Seat 1 @ VCU home games
    apparently not like you would think.
    dogtowner, Apr 19, 2012
    #3

  4. Gipper Well-Known Member

    Member Since:
    Nov 17, 2009
    Message Count:
    5,743
    Likes Received:
    313
    Trophy Points:
    83
    Location:
    Winter Wonderland
    Yes facts do not seem to matter to libs and leftists. It is apparent to anyone who has bothered to do a little research, that the wealthy currently pay a majority of the income tax. Yet BO and his friends keep demanding they pay their fair share. Apparently "fair share" has a different meaning for those on the left.
    Gipper, Apr 20, 2012
    #4

  5. Arbopa Active Member

    Member Since:
    Dec 5, 2011
    Message Count:
    176
    Likes Received:
    25
    Trophy Points:
    28
    Location:
    Colorado
    What an ignorant statement.

    No, capital gains rates are lower because it is through that process of investing that the economy and new ventures, grow. Thus there is risk, but the government want's people to invest, so they have a lower rate for money earned through investment.

    Raise that rate, investment drops, the economy keeps sinking.
    Arbopa, Apr 20, 2012
    #5

  6. PLC1 Super Moderator

    Member Since:
    Apr 20, 2007
    Message Count:
    8,342
    Likes Received:
    210
    Trophy Points:
    63
    Location:
    The Golden State
    Raise the tax rate on earned income, and the incentive to earn income drops in the same way. Why should the tax on capital gains be different from than on earned income?
    PLC1, Apr 21, 2012
    #6

  7. Pandora Well-Known Member

    Member Since:
    Apr 6, 2008
    Message Count:
    11,704
    Likes Received:
    225
    Trophy Points:
    63
    Location:
    The people's republic of Eugene
    I have to disagree with this list

    a head of household who makes under 30k wont pay taxes, they will get back more than they ever put into it. If you make 10-15k and you are head of household you are going to get back probably 5k.

    Heck my son who is a single guy made 10k last year and got back about 8 hundred in earnd income credit and he doesn't even have a kid.
    Pandora, Apr 21, 2012
    #7

  8. Gipper Well-Known Member

    Member Since:
    Nov 17, 2009
    Message Count:
    5,743
    Likes Received:
    313
    Trophy Points:
    83
    Location:
    Winter Wonderland
    There are many variables that can impact what you pay in income taxes thanks in part to the complex and convoluted tax code.

    My daughter lives with us and is single without children. I completed her taxes. Her income was just shy of $12k. She paid slightly under $500 in federal income taxes or about 4%.
    Gipper, Apr 21, 2012
    #8

  9. Pandora Well-Known Member

    Member Since:
    Apr 6, 2008
    Message Count:
    11,704
    Likes Received:
    225
    Trophy Points:
    63
    Location:
    The people's republic of Eugene
    Did you use turbo tax? I did. It worked for tiny tim and it worked for my son :)
    Pandora, Apr 21, 2012
    #9

  10. dogtowner Super Moderator

    Member Since:
    Dec 24, 2009
    Message Count:
    11,170
    Likes Received:
    635
    Trophy Points:
    113
    Location:
    Sec 9 Row J Seat 1 @ VCU home games

    I tend to agree but there are enough single people with no deductions to skew the results.
    dogtowner, Apr 21, 2012
    #10

  11. dogtowner Super Moderator

    Member Since:
    Dec 24, 2009
    Message Count:
    11,170
    Likes Received:
    635
    Trophy Points:
    113
    Location:
    Sec 9 Row J Seat 1 @ VCU home games
    did she even need to file ?
    dogtowner, Apr 21, 2012
    #11

  12. Gipper Well-Known Member

    Member Since:
    Nov 17, 2009
    Message Count:
    5,743
    Likes Received:
    313
    Trophy Points:
    83
    Location:
    Winter Wonderland
    That question never occurred to me. Why do you ask it?

    Pandy, I used H&R Block.
    Gipper, Apr 22, 2012
    #12

  13. dogtowner Super Moderator

    Member Since:
    Dec 24, 2009
    Message Count:
    11,170
    Likes Received:
    635
    Trophy Points:
    113
    Location:
    Sec 9 Row J Seat 1 @ VCU home games
    there is a level below which you do noit need to file. came up some years ago with my daughter and again when I was doing M-I-L's taxes. don't recall the specifics anymore and it might have changed.
    dogtowner, Apr 22, 2012
    #13

  14. Gipper Well-Known Member

    Member Since:
    Nov 17, 2009
    Message Count:
    5,743
    Likes Received:
    313
    Trophy Points:
    83
    Location:
    Winter Wonderland
    I would think she exceeded that with income of nearly 12k. As it is, she paid in only about 4% of her income.
    Gipper, Apr 22, 2012
    #14

  15. dogtowner Super Moderator

    Member Since:
    Dec 24, 2009
    Message Count:
    11,170
    Likes Received:
    635
    Trophy Points:
    113
    Location:
    Sec 9 Row J Seat 1 @ VCU home games
    possible, water over the dam at this point.
    dogtowner, Apr 22, 2012
    #15

  16. Gipper Well-Known Member

    Member Since:
    Nov 17, 2009
    Message Count:
    5,743
    Likes Received:
    313
    Trophy Points:
    83
    Location:
    Winter Wonderland
    Yes.

    She is a secretary in a doctor's office. I don't suppose the doctor paid less in taxes than his secretary....but don't tell the libs....they need class warfare to survive.
    Gipper, Apr 22, 2012
    #16
    Pandora likes this.

  17. Arbopa Active Member

    Member Since:
    Dec 5, 2011
    Message Count:
    176
    Likes Received:
    25
    Trophy Points:
    28
    Location:
    Colorado
    Because capital gains comes from investment, thus from risk. The government want's those with money to 'risk' it.
    Arbopa, May 18, 2012
    #17

  18. PLC1 Super Moderator

    Member Since:
    Apr 20, 2007
    Message Count:
    8,342
    Likes Received:
    210
    Trophy Points:
    63
    Location:
    The Golden State
    but it doesn't want people to work and earn money?
    PLC1, May 18, 2012
    #18

  19. dogtowner Super Moderator

    Member Since:
    Dec 24, 2009
    Message Count:
    11,170
    Likes Received:
    635
    Trophy Points:
    113
    Location:
    Sec 9 Row J Seat 1 @ VCU home games
    yes they want it as it = tax revenue. the problem is their appetite for revenue. its never enough.
    dogtowner, May 18, 2012
    #19

  20. PLC1 Super Moderator

    Member Since:
    Apr 20, 2007
    Message Count:
    8,342
    Likes Received:
    210
    Trophy Points:
    63
    Location:
    The Golden State
    That does seem to be the root of the problem, but an uneven taxation system is not helping either.
    PLC1, May 18, 2012
    #20
Page 1 of 2

Share This Page