Just In Time for Tax Day by Kwicko

REAL WORLD EVENT DISCUSSIONS

Just In Time for Tax Day

POSTED BY: KWICKO
UPDATED: Wednesday, April 20, 2011 12:34
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VIEWED: 751
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Sunday, April 17, 2011 6:44 AM

"We'll know our disinformation program is complete when everything the American public believes is false." -- William Casey, Reagan's presidential campaign manager & CIA Director (from first staff meeting in 1981)

http://www.altweeklies.com/aan/9-things-the-rich-dont-want-you-to-know
-about-taxes/Story?oid=3971382

"Although it is not true that all conservatives are stupid people, it is true that most stupid people are conservatives." - John Stuart Mill

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Sunday, April 17, 2011 6:57 AM

AURAPTOR

America loves a winner!

Stopped reading this obviously biased and slanted tripe at #1...

Quote:
When it comes to state and local taxes, the poor bear a heavier burden than the rich in every state except Vermont, the Institute on Taxation and Economic Policy calculated from official data. In Alabama, for example, the burden on the poor is more than twice that of the top 1 percent. The one-fifth of Alabama families making less than $13,000 pay almost 11 percent of their income in state and local taxes, compared with less than 4 percent for those who make $229,000 or more.

The tax BURDEN is greatly shifted towards the Rich, not the poor. The wealthy pay far more of all taxes than do the poor.

The Left loves to play this game of semantics, ignoring the total revenue raised by taxes comes primarily from the rich ( who numbers are far less than everyone else )

The 'rich' pay far and away more than their 'fair share', yet we continue to get this noise from the big govt - socialist types who spin reality every which way but towards honesty.

Tax Burden of Top 1% Now Exceeds That of Bottom 95%

http://www.taxfoundation.org/blog/show/24944.html

" I do not love the bright sword for its sharpness, nor the arrow for its swiftness, nor the warrior for his glory. I love only that which they defend. "

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Sunday, April 17, 2011 8:37 AM

DREAMTROVE

The rich pay no tax. Tax is on wages. The rich don't work, and have no wages, they have capital. There are various forms of interest which are nontaxable, and many ways to reduce any occurring tax burden from interest to zero.

If you are a high wage earner and consider yourself rich, you are mistaken. All desk jockeys are slaves. Some slaves get to hold the whip. Makes 'em feel big.

The largest tax burden falls on the middle class, those who pay regressive taxes on property and consumable goods, as well as on the mortgages which they pay, etc. They are taxed many times on the same money.

Inflation is a tax on those holding dollars. If you're truly rich, you hold very few dollars. Interest is a tax on those holding debt. The middle class holds a lot of debt, but the rich and poor generally do not hold any.

The second best economic position to rich is poor. I would not want to be in the middle. I think it's good to keep your income under your deductions, and receive any other benefits of labor in a non-tangible form, and then get yourself as much free time as possible.

That's what a ship is, you know - it's not just a keel and a hull and a deck and sails, that's what a ship needs.

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Sunday, April 17, 2011 1:30 PM

KWICKO

The top 1% also control more wealth than the bottom 95%.

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Sunday, April 17, 2011 4:54 PM

DREAMTROVE

Quote:
Originally posted by Kwicko:
The top 1% also control more wealth than the bottom 95%.

Yes, this is getting to the very sticky point I keep trying to make:

The rich (those with wealth, top 1%) and the top 1% wage earners are *not* the same people.

I know people from both group. Those who own the most wealth do their best to make sure their yield does not show up as income (those with say 100 million) Those with maybe a couple million actually don't bother having any income at all. They have normal incomes, pulling off just a few percent to pay all their bills, leaving the rest in the bank. Neither group works. These guys pay no taxes. None.

The top wage earners (last time I checked, 1% was 200k or so) are people who work their fingers to the bone, 60-80 hours a week, and live a decent lifestyle, but by no means like kings. They are taxed through the nose.

This is part of my reason for remaining poor. What's the incentive to become a top wage earner, and how do you do it? You get a terminal degree, about 100-200k in debt, and then get a way overtime job, doctor, lawyer, financial analyst, etc. and then you are going to be taxed on the same money about 5 times and so instead of taking home 10 times what I do and living like a king you take home a couple times as much and you have a great deal less free time.

Some wage earners might be rich, but even CEOs, overwhelmingly, earning like 150-600k, and really working for it, and the fate of the company rests on their shoulders. A close friend of mine was a CEO, worked himself to death, literally.

When Obama said "the rich earn 250k" and McCain said "maybe 5 million" I would said "McCain is closer:" Anyone "earning" 5 million is some robber baron corporate raider with a golden parachute. You can tax that if you want (I would much more favor a return to the constitutional tariff structure)

We don't *need* more taxation gumming up our economy. The price of everything we buy is already 75% tax. The cost of creating a job is around 75% taxes, bennies and expenses related to creating the position. It's no wonder the economy doesn't work.

You want to tax the rich, tax the rich, but recognize that the rich do not have incomes. They have wealth.

But also, it better have a damn good reason, because the govt.'s track record on what it does with taxes is war.

20% tariff on all imports, like it used to be, will be enough to pay for all infrastructure repair and all aid to the poor, and the actual defense of the actual USA, and I don't see that govt. needs to do anything else.

That's what a ship is, you know - it's not just a keel and a hull and a deck and sails, that's what a ship needs.

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Sunday, April 17, 2011 8:20 PM

RIONAEIRE

Beir bua agus beannacht

Remember that thread about how GE and other corporations pay 0 taxes? This reminds me of that, my dad and I were discussing it on the way to church this morning, rutting corporations, they get what they want by supporting a candidate, they give him some money and in turn they get a free ride on taxes, so its like they give a dollar to someone's campaign and they keep 50 dollars because they are let off the hook and don't have to pay taxes, obviously the monitary amounts are on a much larger scale but you get the point. Yuck.

"A completely coherant River means writers don't deliver" KatTaya

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Monday, April 18, 2011 7:35 AM

DREAMTROVE

Quote:
Originally posted by RionaEire:
Remember that thread about how GE and other corporations pay 0 taxes? This reminds me of that, my dad and I were discussing it on the way to church this morning, rutting corporations, they get what they want by supporting a candidate, they give him some money and in turn they get a free ride on taxes, so its like they give a dollar to someone's campaign and they keep 50 dollars because they are let off the hook and don't have to pay taxes, obviously the monitary amounts are on a much larger scale but you get the point. Yuck.

"A completely coherant River means writers don't deliver" KatTaya

There are 300,000 corporations in America. Of those, on long term economics, GE is ranked #1 out of 300,000. It's not exactly a statistical mean.

Also, worth noting that GE has been minting its own money for half a century.

I'm familiar with how the system works. I think that if GE could be held accountable for its pollution, and were not part of our military industrial complex, I wouldn't have much of a problem with it. A change in management. I figure they're completely invincible, so it wouldn't be a bad business to own, except that I don't have half a trillion to spare.

GE's biggest threat is actually copycats. A lot of companies overseas have figured out what they do, and are trying to compete.

Maybe we could get them on our side on the Fracking issue. They're very powerful, and very local to here of course. They've gone multi-national, but their local presence is more than it ever was.

That's what a ship is, you know - it's not just a keel and a hull and a deck and sails, that's what a ship needs.

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Monday, April 18, 2011 11:50 AM

AURAPTOR

America loves a winner!

Quote:
Originally posted by Kwicko:
The top 1% also control more wealth than the bottom 95%.

So, it's not about raising revenue to run the govt, but instead, mainly about what's 'fair' and how to redistibute the wealth, huh?

Just so that we're clear on things.

" I do not love the bright sword for its sharpness, nor the arrow for its swiftness, nor the warrior for his glory. I love only that which they defend. "

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Monday, April 18, 2011 1:19 PM

KWICKO

Quote:
Originally posted by AURaptor:
Quote:
Originally posted by Kwicko:
The top 1% also control more wealth than the bottom 95%.

So, it's not about raising revenue to run the govt, but instead, mainly about what's 'fair' and how to redistibute the wealth, huh?

Just so that we're clear on things.

Hey, YOU were the one who brought "fairness" into the discussion, claiming that the rich pay far more than their fair share, claiming that they pay more than the bottom 95% combined. I pointed out that they OWN more than the bottom 95% combined. Seems to me, if you want to be "fair" about it, and you have 1% of the population that owns 45% of the wealth of the nation, that 1% should be paying 45% of the taxes. As it is, they're paying less than 41%, and that is ONLY income taxes, and doesn't take into account any other taxes at all. When it's broken down by income levels and who pays what percentages of ALL taxes (property, sales, income, payroll, etc.), you'll find that the top 1% pays less than 16%, while the middle class typically pay more than 22% of their entire income in taxes.

You whinge and whine and wheedle and pewl about taxes on the rich not being "fair", and then you whine when someone else brings up fairness. Seems you're very confused, even about your own deeply-held convictions!

"Although it is not true that all conservatives are stupid people, it is true that most stupid people are conservatives." - John Stuart Mill

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Wednesday, April 20, 2011 12:34 PM

AURAPTOR

America loves a winner!

You're intentionally distorting the issue.

What's FAIR is that those who produce the most pay to fund the govt the most, but not be burdened to pay for EVERYONE.

Two separate issues. The proper function of govt, and how much the "rich" own.

If it takes X to run the govt,and the " rich" still have some $ left over after they pay their taxes... .screw them, raise their taxes even MORE , and give that $ away ( after making govt employees wealthy too ) to the poor.

" I do not love the bright sword for its sharpness, nor the arrow for its swiftness, nor the warrior for his glory. I love only that which they defend. "

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