Informed Opinion

Lehigh Acres, FL

#2385 Jan 20, 2013
Informed Opinion wrote:
<quoted text>Someone needs to tell Mitt Romney, who went 10 years paying 0%, then when in the midst of a presidential campaign found he had to elect not to use all his deductions in order get up to paying 13%, which is less than 1/2 what my family and my neighbors pay.
What about those Falcons.
Called Out

Dallas, GA

#2386 Jan 20, 2013
Informed Opinion wrote:
<quoted text>
Someone needs to tell Mitt Romney, who went 10 years paying 0%, then when in the midst of a presidential campaign found he had to elect not to use all his deductions in order get up to paying 13%, which is less than 1/2 what my family and my neighbors pay.
Income tax right, not capital gains tax?????
Support

Blairsville, GA

#2387 Jan 20, 2013
ME II wrote:
<quoted text>
... the other hand, why should we penalized those who are rich and make them pay higher tax rates? Do rich people utilize the public roadways more than poor people? Do they go to the library more often than the poor? Should we be envious of what other have?
Interesting questions, indeed.
Not many want that! All they're asking for is for everyone to pay the same PERCENTAGE on their TOTAL gross income.

The wealthy DON"T pay withholding on anything above $117,000. They pay 15% max on unearned income. They have tax shelters that do what the name implies. They have special tax deductions most people can't afford to get in to, like Limited Partnerships. They have "investments" that are set up to generate huge losses that more than off-set profits. And then off-shore....

Since: Jan 10

Location hidden

#2388 Jan 20, 2013
Informed Opinion wrote:
<quoted text>
Someone needs to tell Mitt Romney, who went 10 years paying 0%, then when in the midst of a presidential campaign found he had to elect not to use all his deductions in order get up to paying 13%, which is less than 1/2 what my family and my neighbors pay.
Someone needs to learn quite a bit more about taxes before they post...

I was going to elaborate a bit more, but your disingenuous makes it a waste of time...although it is likely you don't know how to properly make the calculation, anyway.

Just Saying...

Since: Jan 10

Location hidden

#2389 Jan 20, 2013
Support wrote:
<quoted text>
Not many want that! All they're asking for is for everyone to pay the same PERCENTAGE on their TOTAL gross income.
The wealthy DON"T pay withholding on anything above $117,000. They pay 15% max on unearned income. They have tax shelters that do what the name implies. They have special tax deductions most people can't afford to get in to, like Limited Partnerships. They have "investments" that are set up to generate huge losses that more than off-set profits. And then off-shore....
Certain people don't know what they're asking for, much less know what they're posting about...Income taxes are based upon taxable income, not gross income.

"The wealthy DON"T pay withholding on anything above $117,000."

ARE YOU SERIOUS? The guy making $150K a year doesn't have withholding tax (is is different from FICA, a fact that seems to be lost on you) on his last earned $33K? REALLY?

The $117K is (again) the wrong number and you're referring to FICA, not federal income tax withholding.

"They pay 15% max on unearned income."

Only if it's long term, not short term.

"They have special tax deductions most people can't afford to get in to, like Limited Partnerships."

Wealth envy rearing it's ugly head again? Also, you might want to educate yourself about LPs...

Since: Jan 10

Location hidden

#2390 Jan 20, 2013
ME II wrote:
<quoted text>
...
The Fair Tax, or VAT, or whatever you choose to term it is intriguing, yet no doubt would be incredibly difficult to accomplish and have adverse effects upon low income earners.
...
The FairTax is not a VAT, the amount is approximately the same as embedded sales taxes that are already paid and ALL people, up to the poverty level, would pay no FairTax, so it would have no adverse effect on low income earners...

Since: Nov 12

Location hidden

#2391 Jan 20, 2013
Bill in Dville wrote:
<quoted text>
The FairTax is not a VAT, the amount is approximately the same as embedded sales taxes that are already paid and ALL people, up to the poverty level, would pay no FairTax, so it would have no adverse effect on low income earners...
Ur wasting ur time and u have been for some time. The numbnuts don't know $hit 'bout taxes and don't care as long as they get some of our $$$.

Since: Jan 10

Location hidden

#2392 Jan 20, 2013
bored monitor wrote:
<quoted text>
Ur wasting ur time and u have been for some time. The numbnuts don't know $hit 'bout taxes and don't care as long as they get some of our $$$.
Perhaps. However, some people want to learn. Some people want to bitch about things, but want to learn.

You're right about at least one thing. Some people don't care and don't want to learn...
Informed Opinion

Lehigh Acres, FL

#2393 Jan 20, 2013
Informed Opinion wrote:
What about those Falcons.
Never mind. I am in mourning.
stop the bull

Winter Haven, FL

#2394 Jan 20, 2013
Bill in Dville wrote:
<quoted text>
If you can't follow or understand, perhaps you should "skip the being clueless and uneducated please", and know what the heck you're talking about, please...
"All anyone wants is for the tax rate on the rich and corporations be the same as a percentage of income as middle class America."
Gee, the last time I checked, the tax rates for all individuals (not corporations, we'll get to that in a second) were the same. We all use the same tax forms and tax tables, don't we? OK, it's been a little while since I checked, are there different tax rates for different people? Wow...
Also, you might want to check what the tax rates are for a standard (C corp) corporation, you'd be surprised (and educated).
"And if you really beleive a FairTax will ever actually happen you don't understand the system."
Never said I BELIEVE (note the proper spelling) that the FairTax will be implemented, but it would be a vast improvement over the current system.
"As for the comment that fair taxs on high end earners would make little difference, we are at a point when ANY increase in revenue could make a huge difference."
2 points:(1) Then why not look at the approx. 50% of households that don't pay ANY federal income tax?(2) If you think we have a revenue problem and NOT a spending problem, nothing I (or anyone else here) say(s) will be adequate for you. You need to learn some things to participate.
BTW, what's a "fairtale"?
I ask you nicely to skip the bullshit, and your answer is ALL bullshit. Always the same bullshit, the tax table is the same for all, bullshit. The real tax rate is determined by loopholes and deductions and rich folks normally pay most tax as capital gains taxes. We are ALL talking about the effective tax rate actully payed, well everyone but you. And the rich and corporations pay LESS.
Sure we need to reduce spending to some degree, and its NOT the result of the people who don't make enough to pay income tax, they pay a hell of a lot of other taxes. You are ALSO including retired people and disabled people in your numbers. Now in your mind people who put in time at the job and retired are the problem!!! But the real problem is spending problems generated by two wars started by you know who. The revenue probles caused by the economic meltdown will go away just as soon as the nation recovers from 8 years of Repubs rule. Bush got a surplus and left a with a huge deficit and unfunded wars. The United States still has the largest economic engine in the world. Gloom and doom is all the Repubs have to sell today, damn shame. We will all be much better off as soon as all the bullshit stops.
Fairtale is code word in the real world for FairTax, I left the y out by mistake, sorry.
Informed Opinion

Lehigh Acres, FL

#2395 Jan 20, 2013
Called Out wrote:
<quoted text>Income tax right, not capital gains tax?????
Capital gains is just another name for income. Some income results from our labor, and some results from our investments,(if we have investments).

A false and arbitrary distinction.

Kind of like saying I drive a motor vehicle and he drives a truck. A truck is just one form of motor vehicle. Capital gains is just one form of income. Payment in Kind is another form. Salary is another.

It's all income, but the folks who obtain their income via capital gains on investments or hedge funds would love to convince those of us who labor that their income is somehow "special" and should be taxed at a lower rate than laborer's wages.

To me, and Warren Buffett, a pretty impressive source, it should've the opposite.

It is impossible not to invest your money unless you out it in your mattress, or PVC pipes buried in the ground. Even if you just leave it in the bank, your investing with the bank and the bank is investing with your money, so "investors" actually need no incentive at all to "invest" - they cannnot "not invest".
Falcons Suck

Albany, GA

#2396 Jan 20, 2013
Informed Opinion wrote:
<quoted text>
Never mind. I am in mourning.
You should be in mourning. Falcons fans are a bunch of animals. The game was only over for a few minutes before one of you freaks stabbed a 49ers fan. Of course we shouldn't be surprised. Any team that would have Michael Vick as their QB would naturally attract animals as fans.
hey man

Eagleville, TN

#2397 Jan 20, 2013
Chill out man
Informed Opinion

Lehigh Acres, FL

#2398 Jan 20, 2013
Falcons Suck wrote:
<quoted text>You should be in mourning. Falcons fans are a bunch of animals. The game was only over for a few minutes before one of you freaks stabbed a 49ers fan. Of course we shouldn't be surprised. Any team that would have Michael Vick as their QB would naturally attract animals as fans.
Seem you should be mad at Philadelphia. Maybe my memory is going, but seems to me Vick never played in Atlanta after being convicted of the crimes. But maybe I am wrong.

As for the stabbing. Kinda silly to stereotype millions of people because one person does something stupid. For instance, after reading your post I don't consider everyone in your town to be morons.
Anonymous

Jefferson, GA

#2399 Jan 20, 2013
Falcons Suck wrote:
<quoted text>
You should be in mourning. Falcons fans are a bunch of animals. The game was only over for a few minutes before one of you freaks stabbed a 49ers fan. Of course we shouldn't be surprised. Any team that would have Michael Vick as their QB would naturally attract animals as fans.
last I checked, Vick don't play for Atlanta. Second, Vick fought a dog and the world hates him. Ray Lewis (Ravens) killed a person in Atlanta and he is a world hero. Everyone needs to get their shit straight!
ME II

Dahlonega, GA

#2400 Jan 20, 2013
Informed Opinion wrote:
<quoted text>
Seem you should be mad at Philadelphia. Maybe my memory is going, but seems to me Vick never played in Atlanta after being convicted of the crimes. But maybe I am wrong.
As for the stabbing. Kinda silly to stereotype millions of people because one person does something stupid. For instance, after reading your post I don't consider everyone in your town to be morons.
Obviously you have never been to Albany... or ALL-BENNY as they call it...
ME II

Dahlonega, GA

#2401 Jan 20, 2013
Bill in Dville wrote:
<quoted text>
The FairTax is not a VAT, the amount is approximately the same as embedded sales taxes that are already paid and ALL people, up to the poverty level, would pay no FairTax, so it would have no adverse effect on low income earners...
So it's really not a "fair" tax, since not everyone would pay it, right? And just curious, if we did have a "fair tax" and I walked into a grocery store to buy groceries, how would the cashier determine that I am at or below the poverty level? Just asking?

Since: Jan 10

Location hidden

#2402 Jan 20, 2013
stop the bull wrote:
<quoted text>
I ask you nicely to skip the bullshit, and your answer is ALL bullshit. Always the same bullshit, the tax table is the same for all, bullshit. The real tax rate is determined by loopholes and deductions and rich folks normally pay most tax as capital gains taxes. We are ALL talking about the effective tax rate actully payed, well everyone but you. And the rich and corporations pay LESS.
Sure we need to reduce spending to some degree, and its NOT the result of the people who don't make enough to pay income tax, they pay a hell of a lot of other taxes. You are ALSO including retired people and disabled people in your numbers. Now in your mind people who put in time at the job and retired are the problem!!! But the real problem is spending problems generated by two wars started by you know who. The revenue probles caused by the economic meltdown will go away just as soon as the nation recovers from 8 years of Repubs rule. Bush got a surplus and left a with a huge deficit and unfunded wars. The United States still has the largest economic engine in the world. Gloom and doom is all the Repubs have to sell today, damn shame. We will all be much better off as soon as all the bullshit stops.
Fairtale is code word in the real world for FairTax, I left the y out by mistake, sorry.
"Always the same bullshit, the tax table is the same for all, bullshit."

How is it BS if it's a fact? Because you don't like it and can't figure it out?

"The real tax rate is determined by loopholes and deductions"

The real tax rate is determined by taxable income. Do you know how to arrive at taxable income?

"and rich folks normally pay most tax as capital gains taxes."

What, to you, is "rich"? How much income? Is ANYONE who has capital gains rich?

"And the rich and corporations pay LESS."

Have you ever done ANY research as to the rationale of why the capital gains rate is what it is? Were you paying attention several posts (of mine) ago where it was indicated a household could have gross income of over $100K and be paying an overall tax rate that is LESS than the long term capital gains rate? Or, is that beyond your comprehension level?

Also, I surmise you didn't find out the corporate tax rate. It's higher than what you pay.

"You are ALSO including retired people and disabled people in your numbers."

Correct. Do you know what the % is of those that don't pay any federal income tax? The vast majority of people that don't pay federal income tax are not retirees and disabled people. BTW, lots of retired people pay federal income taxes, as do lots of disable people.

"actully payed"???

Would that, by chance, be "actually paid"? You really should check your posting before submitting, you're looking even worse than you "sound"...

BTW, how's that no withholding on income over $117K thing going? IF you happen to know someone that makes over $117K per year, ask them when their federal withholding stopped. They'll look at you like you have a third eye in the middle of your forehead (in your case, it might be a five head).

"Sure we need to reduce spending to some degree,"

If you don't believe we have a spending problem, either you're hopelessly clueless or haven't been paying attention (maybe both).

"and its NOT the result of the people who don't make enough to pay income tax, they pay a hell of a lot of other taxes."

So does everybody else. However, for MOST people, federal income taxes are the largest tax item they pay.

Since: Jan 10

Location hidden

#2403 Jan 20, 2013
Informed Opinion wrote:
<quoted text>
Capital gains is just another name for income. Some income results from our labor, and some results from our investments,(if we have investments).

...
Both are DIFFERENT types of income and are taxed DIFFERENTLY. Hmmmm. Do you know the rationale why?

"A false and arbitrary distinction."

Only to clueless and uneducated people that don't know the rationale of why they're treated differently for tax purposes

Since: Jan 10

Location hidden

#2404 Jan 20, 2013
ME II wrote:
<quoted text>
So it's really not a "fair" tax, since not everyone would pay it, right? And just curious, if we did have a "fair tax" and I walked into a grocery store to buy groceries, how would the cashier determine that I am at or below the poverty level? Just asking?
Do your own FairTax research, start with the word "prebate". It's been explained ad nauseum in here already.

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