% of us paying taxes now 49.65 in '84 14.8

[dogtowner]

so a Billionaire...who has more money then the last 7 or 8 combined...said he paid a lower tax rate...because he wants look good?

so what you are saying now is...you pay less then 15% in taxes...and that you think its odd I do...( with no idea what my income is of course)...but yet taxes are just way to high...yet you seem be be saying half don't pay any...and the rest pay less then 15%...so what is low enough...half a percent?

Didn't Buffett say he paid more like 14% ? he makes his money the same way Romney does. so if Romney is paying more its because he wants to.

most people have deductions that lower the taxable income so that the effective rate paid is less than the stated rate. even the standard deduction anyone gets has this effect.

the point is you talk about rates nobody pays and ignore the actual rates paid when shown that research.

raising taxes does not work, see the post I just made regarding UK acting surprised when their increase dropped revenue.

 

[Arbopa]

No I am not, no I don't make money off Capital Gains...see I do this thing where I actually go to work, and I actually work...And thats the point...Money made by Rich people is not taxes like it use to be...meaning that there overall tax Rate is lower...and I have a hard time saying that a person making 500 Million a year, should pay a lower percent of his taxes then a guy working hard and making 30,000 a year ( no I make more then 30,000 I just use that as a example) Capital Gains taxes use to be much higher...they where lowered ( of course no spending was offset to make up lost income...raising debt)

Capital gains tax is lower because it is a risk based investment. See, they don't have to take the risk with their money, they can just sit on it. For this, they get a lower rate than if they were not risking their money.

If you jack that rate up, they pull money out of those investments. Bad for the economy, less capitol being invested.

 

[dogtowner]

Capital gains tax is lower because it is a risk based investment. See, they don't have to take the risk with their money, they can just sit on it. For this, they get a lower rate than if they were not risking their money.

If you jack that rate up, they pull money out of those investments. Bad for the economy, less capitol being invested.

or they could just take the investment elsewhere.

 

[Alias]

I just read Obama wants to lower the corporate tax rate. I wonder what OWS thinks about this?

 

[Arbopa]

so he wants to lower the rate on corporations but raise it (dividends taxes) on a huge chunk of citizens. Big effect on retiree's.

hmm.. doesn't he claim that's the sort of stuff the 'other side' does?

 

[dogtowner]

I just read Obama wants to lower the corporate tax rate. I wonder what OWS thinks about this?

only to some companies (like most of the rest of his tax breaks).
he hopes people only read the headline because you don't even have to get to the fine print to see it stinks.

 

[pocketfullofshells]

Didn't Buffett say he paid more like 14% ? he makes his money the same way Romney does. so if Romney is paying more its because he wants to.

most people have deductions that lower the taxable income so that the effective rate paid is less than the stated rate. even the standard deduction anyone gets has this effect.

the point is you talk about rates nobody pays and ignore the actual rates paid when shown that research.

raising taxes does not work, see the post I just made regarding UK acting surprised when their increase dropped revenue.

again you act like taxes the only think that effects the econ..Clinton raised taxes..the econ boomed..thus if you raise taxes the econ booms...without looking at anything else, I have proven my case thus bow down. of course there was a lot more to it..and you would point them out...yet for counter claim you ignore them.

also if Mitt and Buffet are paying 14% and 15% taxes..you already have your wish..a 15% tax rate. So realy the only thing you want the is for the rest us to pay more taxes. or you have to admit that today the rich pay a lower percent of taxes then the rest..

ps this keyboard sucks and will be returned in about 10 min.

 

[dogtowner]

again you act like taxes the only think that effects the econ..Clinton raised taxes..the econ boomed..thus if you raise taxes the econ booms...without looking at anything else, I have proven my case thus bow down. of course there was a lot more to it..and you would point them out...yet for counter claim you ignore them.

also if Mitt and Buffet are paying 14% and 15% taxes..you already have your wish..a 15% tax rate. So realy the only thing you want the is for the rest us to pay more taxes. or you have to admit that today the rich pay a lower percent of taxes then the rest..

ps this keyboard sucks and will be returned in about 10 min.

sorry about your keyboard, my mouse is acting up....

lets just assume for the sake of argument that you and I are in the 28% range. we both know that portions of that are taed at the lower rate as applicable, then we both have deductions either standard or itemized. I happen to be itemized and wound up paying an effective rate of 11%. That's less than Romney and Buffett.

and I didn't say 15% that was Gen. I said Fair Tax.

 

[GenSeneca]

or you have to admit that today the rich pay a lower percent of taxes then the rest..

Or you could simply admit the Progressive INCOME TAX is not the same thing the CAPITAL GAINS TAX, that each one of those tax system has it's own marginal rates.

Anyone, rich or poor, who derives their money through capital gains is going to pay a lower rate compared to their Progressive income tax counterpart who earns their money through paychecks.

 

[dogtowner]

Or you could simply admit the Progressive INCOME TAX is not the same thing the CAPITAL GAINS TAX, that each one of those tax system has it's own marginal rates.

Anyone, rich or poor, who derives their money through capital gains is going to pay a lower rate compared to their Progressive income tax counterpart who earns their money through paychecks.

and say, doesn't that capital gain represent companoies who write those paychecks ?
hmmmmm why yes it does.

 

[Cruella]

What about the ATM? (Alternative Minimum Tax)

 

[dogtowner]

What about the ATM? (Alternative Minimum Tax)

its more fun to pretend that people actually pay the published marginal rate.

 

[Dr.Who]

Yes having people who presently receive money from the government as a result of filing an income tax return does represent an increase in taxes for that person. But everyone should pay their fair share.

The people who presently pay no income tax are actually being screwed because too many favors are going to the rich cats who allegedly pay high rates. The people who do not pay taxes are paying for it in other ways - insideous and secret ways.

Eliminate favoritism and just tax everyone one low fair rate and we will all be better off.

Does Romney really pay less at 15% on capital gains? Well as a stockholder he is actually part owner of a company (as is anyone with a 401K which represents more than half of the money in the stock market). As an owner of that company any money he receives his companies stock was already taxed once and then taxed again when the stock "paid" him. He actually paid 15% plus another corporate percent.

It would be fine to tax capital gains at a higher rate if the double taxation were eliminated.