About small business people...

[Ravi]

pb, setting aside the question of if you actually have a business or not, if you make $500,000 a year you would end up paying an additional $4509 assuming the highest tax bracket is raised from 35% to 38% (assuming no deductions).

Here's a link to the IRS 2007 Tax Table. Page 13.

You're a joke. Not only do you not understand that small business don't pay income tax, you also don't even understand the most rudimentary tax law.

http://www.irs.gov/pub/irs-pdf/i1040tt.pdf

 

[The Paperboy]

Good.

People who make over $250,000 should pay more.

Like I said, Chris, at least you're honest.

Here are some facts:

The richest 1 percent of the population earns 16 percent of the income but pays 33% of federal income taxes.

The richest 10 percent earn 33% of the income and pay 66% of the tax.

The poorest 50% pay less than 3%.

The countries income is already very nicely redistributed.

 

[The Paperboy]

pb, setting aside the question of if you actually have a business or not, if you make $500,000 a year you would end up paying an additional $4509 assuming the highest tax bracket is raised from 35% to 38% (assuming no deductions).

Here's a link to the IRS 2007 Tax Table. Page 13.

You're a joke. Not only do you not understand that small business don't pay income tax, you also don't even understand the most rudimentary tax law.

http://www.irs.gov/pub/irs-pdf/i1040tt.pdf

If it will make your day then, yes, Ravi, I am a joke.

Now to my original question: Would you rather have the government spend that $5,000.00 or leave it the individual to spend?

 

[Ravi]

If it will make your day then, yes, Ravi, I am a joke.

Now to my original question: Would you rather have the government spend that $5,000.00 or leave it the individual to spend?

I'm happy either way. I don't mind paying my fair share, after all, I'd never make as much money as I do without all the bennies I get from things our tax money pays for.

 

[The Paperboy]

I'm happy either way. I don't mind paying my fair share, after all, I'd never make as much money as I do without all the bennies I get from things our tax money pays for.

So you'd rather have the government spend the money. Fair enough. I would not. I would like the government to freeze or cut spending and cut taxes for everyone. If they did so revenues would go up and they could start reducing the deficit and debt.

Sorry if you disagree. No reason for name calling though. After all we are all suppose to work together now, aren't we?

 

[Ravi]

So you'd rather have the government spend the money. Fair enough. I would not. I would like the government to freeze or cut spending and cut taxes for everyone. If they did so revenues would go up and they could start reducing the deficit and debt.

Sorry if you disagree. No reason for name calling though. After all we are all suppose to work together now, aren't we?

I tell you what, you stop lying and I won't call you names.

 

[The Paperboy]

I tell you what, you stop lying and I won't call you names.

There ya go again. What is it you feel I have lied about?

 

[Care4all]

Like I said, Chris, at least you're honest.

Here are some facts:

The richest 1 percent of the population earns 16 percent of the income but pays 33% of federal income taxes.

The richest 10 percent earn 33% of the income and pay 66% of the tax.

The poorest 50% pay less than 3%.

The countries income is already very nicely redistributed.

but paperboy, it is disingenuous to ONLY look at the income tax as the only taxes being paid in taxes to our government and looking at it from only what portion of income taxes paid by the top 1% without looking at what portion of the nations earnings or wealth they make or own as well.

income taxes pull in about 1 trillion of the 3.3 trillion they are spending in their yearly budget now...where do you think the rest of the budget revenues come from?

other taxes and borrowing....

to include what portion they pay of income taxes collected only, while not including all federal taxes including FICA, gas taxes, excise taxes, sin taxes, licences and fees that are collected from all of us is just plain wrong.....don't you think?

care

 

[Care4all]

If it will make your day then, yes, Ravi, I am a joke.

Now to my original question: Would you rather have the government spend that $5,000.00 or leave it the individual to spend?

i'd rather them have it, than BORROW IT from china or from the Saudis....when they cut spending enough that they are not borrowing the money to pay our bills for bailouts, etc...THEN, i would rather you have it to spend.



and the 3% hike IS ONLY ON WHAT you net over and above the 250k net....

 

[The Paperboy]

but paperboy, it is disingenuous to ONLY look at the income tax as the only taxes being paid in taxes to our government and looking at it from only what portion of income taxes paid by the top 1% without looking at what portion of the nations earnings or wealth they make or own as well.

income taxes pull in about 1 trillion of the 3.3 trillion they are spending in their yearly budget now...where do you think the rest of the budget revenues come from?

other taxes and borrowing....

to include what portion they pay of income taxes collected only, while not including all federal taxes including FICA, gas taxes, excise taxes, sin taxes, licences and fees that are collected from all of us is just plain wrong.....don't you think?

care

Perhaps. Above my pay grade, I suppose. I think everyone would be better off if:

a. There was a spending freeze. Better yet spending cuts.
b. No tax hikes on anyone or better yet tax cuts for everyone.
c. A lowering of the corporatre tax rate.

I think this would cause new jobs to be created and increase revenue.

And no more frickin' wars.

Just my humble opinion.

 

[editec]

Who would you rather have paying the additional taxes?

People making $250K a year (who have enjoyed huge tax breaks for the last seven years) or the next three generations of Americans?

That is the REAL question.

If someone is making $5,000 a week, I think they'll get by making only $4,820 a week, don't you?

 

[The Paperboy]

Who would you rather have paying the additional taxes?

People making $250K a year (who have enjoyed huge tax breaks for the last seven years) or the next three generations of Americans?

That is the REAL question.

If someone is making $5,000 a week, I think they'll get by making only $4,820 a week, don't you?

The new taxes will not even come close to covering the trillion Obama proposes to spend let alone reducing the deficit and debt.

I would be OK to pay more tax if it went to reducing the deficit and debt. But it won't.

Sigh.

 

[NOBama]

message deleted by NObama

 

[Care4all]

Perhaps. Above my pay grade, I suppose. I think everyone would be better off if:

a. There was a spending freeze. Better yet spending cuts.
b. No tax hikes on anyone or better yet tax cuts for everyone.
c. A lowering of the corporatre tax rate.

I think this would cause new jobs to be created and increase revenue.

And no more frickin' wars.

Just my humble opinion.

there are many people who think like you,

and there are many who do not...

mainly because it is not reality nor can it be for quite some time with the depth of our deficit, even with fiscal restraint. Our national debt that president bush inherited was 5.6 trillion....that's 5.6 trillion accumilated debt in our entire country's history, since its existance paperboy!!!!

AS we speak, our national debt is now nearing $11.5 TRILLION DOLLARS.

in just 8 years $6 trillion has been added to the national debt, DOUBLING our accumilated (in our history) debt... we were spending about $250 billion to $300 billion in interest payments on that debt, yearly....yes, just the interest payments and NOW that we are over 11 trillion, the payments could go to $500 billion a year on just those interest payments for this national debt...

this ON TOP of the fact that we are nearing the time when SS surplusses will no longer be coming in for our congress to use, but instead a time when the federal budget will be hit with having to pay back the THE 6 TRILLION DOLLARS it borrowed from SS.

AND lastly all of this at a time when our economy is in the crapper and bringing in even less in revenues making our deficit grow larger even if major cuts were made.

SOOOOO, basically this is why i do not jump on to your theory....

NOT that the ideas aren't good and utopian....cuz they are imo as well...BUT they just don't fit in with the reality of what we are facing right now...in my opinion, it will probably take a tax hike on all of us, once we are out of our economic recession mess, along with major cuts, for many many decades, to get us out of this mess.

hope that answers some of your questions on why some of us, at least me, thinks differently!!!

care

 

[The Paperboy]

there are many people who think like you,

and there are many who do not...

mainly because it is not reality nor can it be for quite some time with the depth of our deficit, even with fiscal restraint. Our national debt that president bush inherited was 5.6 trillion....that's 5.6 trillion accumilated debt in our entire country's history, since its existance paperboy!!!!

Yes, and Bush, Obama, McCain, Pelosi and Reid and the rest of the asylum added another trillion while we were all out at the movies this summer.

So now do you agree with increasing spending by another trillon as Obamas has promised?

 

[Care4all]

Yes, and Bush, Obama, McCain, Pelosi and Reid and the rest of the asylum added another trillion while we were all out at the movies this summer.

So now do you agree with increasing spending by another trillon as Obamas has promised?

Actually paperboy, it was an additional 7 trillion over 10 years for Mccain's campaign promise plans and an additional 5.2 trillion over 10 years for Obama's campaign promise plans according to some FACT CHECK thingy....

THEY BOTH, thru their tax plans and promises were going to add TRILLIONS to the national debt.

care

 

[bk1983]

Just checked with the wife. 100 shares.

OK, listen, Columbo. Are you prepared to put your money where your mouth is?

How about we make a nice heafty wager that I can produce tax documents that prove exactly what I say? Not only that I will provide you with my web site, phone number and maybe even some clients.

If you're ready let me know and I will PM you.

Now either put up or shut up.

P.S. By the way Sherlock, my two consultants are independent contractors and the wife is not on the payroll. I am the only employee which is why I could care less how many shares the corp has. I pay myself a salary and the rest is taken as S Corp Profit from Schedule E (Line 32).

I have a simple idea, why not give me the name of your corporation? I can then verify the information myself? also, you said earlier you had 3 employees, which is it 2 or 3? why would someone be stupid enough to want to share sensitive tax documents yet unwilling to even give me the name of their corp? you can end this argument once and for all. but since you are a fraud I know you will not. so are you saying you have a 100 shareholders?

 

[bk1983]

I have a simple idea, why not give me the name of your corporation? I can then verify the information myself? also, you said earlier you had 3 employees, which is it 2 or 3? why would someone be stupid enough to want to share sensitive tax documents yet unwilling to even give me the name of their corp? you can end this argument once and for all. but since you are a fraud I know you will not. so are you saying you have a 100 shareholders?

awaiting answer..

 

[jillian]

awaiting answer..

No one is going to give you that kind of information regardless of their bona fides. And rightfully so.

If we're wrong about him, we're wrong. If we're right, we're right. But he doesn't have to prove anything by violating his own privacy.

 

[Ravi]

There ya go again. What is it you feel I have lied about?

That small businesses pay tax. That you will pay an additional 8,000 a year in tax. That a 3% tax increase on personal income will hurt small business.