Only the Rich Pay Taxes - Oxycontin Boy

Discussion in 'Current Events' started by rayboyusmc, Oct 21, 2008.

  1. rayboyusmc
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    rayboyusmc Senior Member

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    U.S. Budget and Economy: Do Only The Rich Pay Taxes?
     
  2. PeterS
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    PeterS Active Member

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  3. Turboswede
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    Turboswede Very Metal

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    It seems like a lot of folks around here think that only the rich pay taxes and that is just false. Am I the only one around here that knows there are other taxes than Federal Income Tax? First off everyone in America who receives a paycheck pays 12.4% in social security (6.2% employee, 6.2% employer) and 2.9% Medicare. That means every working stiff out there pays 15.4% of their GROSS income in federal taxes. In addition the tax only impacts the middle class as it is capped at $102,000.

    In other words, whether you make $102,000 or $204,000 per year, the amount of SSI paid is the same.

    In addition there federal fuel taxes that are paid by everyone that needs to fill their tank and these tend to have a greater impact on the middle classes than the wealthy.

    There are other examples out there as well.
     
  4. WillowTree
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    WillowTree Diamond Member

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    and from which tax pool does the tax exempt status come from doyathink? When "rebates" are given from which pool does this money come from doyathink?
     
  5. Turboswede
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    Turboswede Very Metal

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    ?

    I don't get your point. Tax exempt status is provided to organizations that are not run for a profit (Section 501(c) of the code); I don’t think I mentioned those. Are you saying that Churches and Charities need to be taxed?

    The pool of money is the same ever since the social security trust fund was tapped for federal spending.
     
    Last edited: Oct 21, 2008
  6. strollingbones
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    strollingbones Diamond Member

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    i never feel rich paying taxes
     
  7. Skull Pilot
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    Skull Pilot Platinum Member

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  8. editec
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    editec Mr. Forgot-it-All

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    I pay a higher percentage of my income in taxes than Warren Buffet does, folks and I am living in poverty by any federal state or local standard one cares to apply.

    I am eligible for (and do not accept) every welfare opportunity this nation or my state offers.

    So you wealthy-class pandering crybabies can just go cry me a river but don't expect me to be moved by their so-call plight.
     
  9. rayboyusmc
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    rayboyusmc Senior Member

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    I am looking for a good article that actually looks at what the rich "actually' pay in taxes. When you have a good lawyer, I don't, you can find ways to decrease your heavy load for the richies.
     
  10. Care4all
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    Care4all Warrior Princess Supporting Member

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    The highest earners, top 1% have a tax burden of about 20%...Buffet, richest man in America i believe, paid 19% in taxes he said, when he said that his secretary paid much more of her salary in taxes than he did...
     

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