9 Things The Rich Don't Want You To Know About Taxes

[PoliticalChic]

2. "...income tax is less than half of federal taxes and only one-fifth of taxes at all levels..."
Does this make sense to you? I'm sure it does, and to the other dolts who 'thanked' you...

You're such a pleasant person with whom to converse.

Income tax accounts for an average of 12.24% of adjusted gross income for the nation as a whole

While other Federal taxes make up the other half of Federal taxes.

Therefore, now follow carefully, 'all taxes' would amout to 61.2055% of the adjusted gross income of the nation as a whole.

So, folks spend over 61% of their AGI in taxes?
Is that your precis?

No, my precis is income tax is less than half of federal taxes and only one-fifth of taxes at all levels. Social Security, Medicare and unemployment insurance taxes (known as payroll taxes), gas taxes, sales taxes, utility taxes and other taxes would make up the other 4/5ths of the taxes at all levels.

1. "You're such a pleasant person with whom to converse. "

If you have a problem with being referred to as a dolt, and you should, refrain from tossing the reference to sheep in your opening.

Civil begets civility.

2. Why would you leave out so much of the remedition that I provided?

Could it be that,
as the average citizen hardly spend 61%+ on taxes, you post fails on the face of it.

3. "...with whom to converse..."
I rarely see a phrase as grammatically correct as this. Well done.

I look forward to future posts.

 

[Nic_Driver]

2. Why would you leave out so much of the remedition that I provided?

Could it be that,
as the average citizen hardly spend 61%+ on taxes, you post fails on the face of it.

Becasue I never claimed the average citizen spends 61%+ on taxes.

My claim is simple and factual, reread it before you post again please.

Income tax is less than half of federal taxes and only one-fifth of taxes at all levels.

 

[PoliticalChic]

2. Why would you leave out so much of the remedition that I provided?

Could it be that,
as the average citizen hardly spend 61%+ on taxes, you post fails on the face of it.

Becasue I never claimed the average citizen spends 61%+ on taxes.

My claim is simple and factual, reread it before you post again please.

Income tax is less than half of federal taxes and only one-fifth of taxes at all levels.

Link?

 

[Dont Taz Me Bro]

9 Things The Rich Don't Want You To Know About Taxes

For three decades we have conducted a massive economic experiment, testing a theory known as supply-side economics. The theory goes like this: Lower tax rates will encourage more investment, which in turn will mean more jobs and greater prosperity—so much so that tax revenues will go up, despite lower rates. The late Milton Friedman, the libertarian economist who wanted to shut down public parks because he considered them socialism, promoted this strategy. Ronald Reagan embraced Friedman’s ideas and made them into policy when he was elected president in 1980.

For the past decade, we have doubled down on this theory of supply-side economics with the tax cuts sponsored by President George W. Bush in 2001 and 2003, which President Obama has agreed to continue for two years.

You would think that whether this grand experiment worked would be settled after three decades. You would think the practitioners of the dismal science of economics would look at their demand curves and the data on incomes and taxes and pronounce a verdict, the way Galileo and Copernicus did when they showed that geocentrism was a fantasy because Earth revolves around the sun (known as heliocentrism). But economics is not like that. It is not like physics with its laws and arithmetic with its absolute values.

Tax policy is something the framers left to politics. And in politics, the facts often matter less than who has the biggest bullhorn.

1. Poor Americans do pay taxes.

2. The wealthiest Americans don’t carry the burden.

3. In fact, the wealthy are paying less taxes.

4. Many of the very richest pay no current income taxes at all.

5. And (surprise!) since Reagan, only the wealthy have gained significant income.

6. When it comes to corporations, the story is much the same—less taxes.

7. Some corporate tax breaks destroy jobs.

8. Republicans like taxes too.

9. Other countries do it better.



The Mad Men who once ran campaigns featuring doctors extolling the health benefits of smoking are now busy marketing the dogma that tax cuts mean broad prosperity, no matter what the facts show.

So Umm just a thought but don't you find it strange that close to every political leader both Left for the most part and Right are in fact the "RICH" that you're whining about?

Do you really think it's strange that the laws are the way they are given that it is the Government leadership that creates those laws who also happen to be the rich you're crying about?

He doesn't think. That's the problem.

 

[Nic_Driver]

2. Why would you leave out so much of the remedition that I provided?

Could it be that,
as the average citizen hardly spend 61%+ on taxes, you post fails on the face of it.

Becasue I never claimed the average citizen spends 61%+ on taxes.

My claim is simple and factual, reread it before you post again please.

Income tax is less than half of federal taxes and only one-fifth of taxes at all levels.

Link?

There's no link to common knowledge, sorry.

 

[PoliticalChic]

Becasue I never claimed the average citizen spends 61%+ on taxes.

My claim is simple and factual, reread it before you post again please.

Income tax is less than half of federal taxes and only one-fifth of taxes at all levels.

Link?

There's no link to common knowledge, sorry.

As I assumed....

The 'fact,' then remains in the realm of propaganda designed to obfuscate and mislead.

 

[syrenn]

3. In fact, the wealthy are paying less taxes.

The Internal Revenue Service issues an annual report on the 400 highest income-tax payers. In 1961, there were 398 taxpayers who made $1 million or more, so I compared their income tax burdens from that year to 2007.

Despite skyrocketing incomes, the federal tax burden on the richest 400 has been slashed, thanks to a variety of loopholes, allowable deductions and other tools. The actual share of their income paid in taxes, according to the IRS, is 16.6 percent. Adding payroll taxes barely nudges that number.

Compare that to the vast majority of Americans, whose share of their income going to federal taxes increased from 13.1 percent in 1961 to 22.5 percent in 2007.

(By the way, during seven of the eight George W. Bush years, the IRS report on the top 400 taxpayers was labeled a state secret, a policy that the Obama administration overturned almost instantly after his inauguration.)

Paying "less" in taxes is MORE then paying nothing in tax's. So until everyone pays the same in taxes, the ones who dont pay tax's shouldn't complain.

Just saying.

 

[Nic_Driver]

Yep and the sky isn't really blue either, that's another liberal lie.


Wow, you're an easy target for Fox Noise aren't you?

 

[Nic_Driver]

So until everyone pays the same in taxes, the ones who dont pay tax's shouldn't complain.

The right wants to maintian the status quo that's worked so well for them as they redistributed the wealth upwards.

 

[PoliticalChic]

Yep and the sky isn't really blue either, that's another liberal lie.


Wow, you're an easy target for Fox Noise aren't you?

You post clearly counter-intuitive nonsense and, because it fits a left wing worldview, yo choose to believe it.

I live in a fact and data driven universe.

Join me sometime.