- Oct 26, 2011
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... the above might make sense if the 2003 Bush tax cuts had not created a 14 trillion $$ national deficit, that not even the poor people in America can pay off by themselves.
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... the above might make sense if the 2003 Bush tax cuts had not created a 14 trillion $$ national deficit, that not even the poor people in America can pay off by themselves.
It's class warfare designed to create envy. We are dangerously close to the tipping point where over half the households in the USA are receiving some sort of government check or hand out. Obama's goal is to get us over 50%.
Lets eliminate all deductions.
We should not use the tax system for promoting social structure.
Link?Bam Bam is spouting off again about people who earn a million a year not paying the same percentage as the so called middle class.
Well guess what he's wrong again.
A single filer making 1 million a year would pay in $323,935 or 32.39% of his income.
A single filer earning 50K a year would pay in $8600 or 17.2% of his income.
So you see folks people who make more pay a higher percentage of their income so it's the rest of you who aren't paying their "fair share"
Interesting, that's what the wealthiest Americans want. I wonder why?There should be a flat tax in America, and that is all there is to it.
Bam Bam is spouting off again about people who earn a million a year not paying the same percentage as the so called middle class.
Well guess what he's wrong again.
A single filer making 1 million a year would pay in $323,935 or 32.39% of his income.
A single filer earning 50K a year would pay in $8600 or 17.2% of his income.
So you see folks people who make more pay a higher percentage of their income so it's the rest of you who aren't paying their "fair share"
Bam Bam is spouting off again about people who earn a million a year not paying the same percentage as the so called middle class.
Well guess what he's wrong again.
A single filer making 1 million a year would pay in $323,935 or 32.39% of his income.
A single filer earning 50K a year would pay in $8600 or 17.2% of his income.
So you see folks people who make more pay a higher percentage of their income so it's the rest of you who aren't paying their "fair share"
Glenn Beck explains how the Buffett rule will not cause Buffett to pay more in taxes:
Most Blaze readers have, by now, likely heard President Obamas renewed rallying cries for the implementation of the Buffett Rule,' which he calls a 'common sense' measure that 'does not' incite 'class warfare.' The rule was spawned by billionaire investor Warren Buffett after he penned a New York Time op-ed calling on Congress to raise taxes on Americas top income earners.
While progressives would quickly suggest the reason is because the wealthy are benefiting from an unfair tax system that rewards only the top 1% in actuality, Buffett, along with George Soros and likely even Bill Gates, are not actually earning income. Thus, there is nothing to pay income tax on. Rather, long-time entrepreneurs like Buffett and Soros are likely living off their investments. This is different than earned income such as a salary and is not subject to income tax.
So, while Buffett and Soros both clamor for higher income tax for the wealthy, it is all an empty display as they would not be effected by an income tax increase on the top income-earners anyway. Both rainmen maintain that an income tax increase will neither effect them nor bother them at all. This, Beck said, is the ironic 'truth.' Becks entire article can be found at the following link:
Glenn Beck Slams the Buffett Rule, Saying Warren Buffett Does Not Pay Income Tax Anyway | Video | TheBlaze.com
One more thing, Buffett was complaining how his secretary who earned $60,000 was paying a Federal Income Tax rate of 30%. Although many people believed Buffett, what he said was untrue. Anyone earning $60,000 a year in 2011 would have been allowed a minimum standard deduction of $5,800 plus a personal exemption of $3,700 (more if she had dependents); therefore, she would have taxable income of $50,500 and would owe taxes of $8,744 which is 14.6% of her $60,000 salary.
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By the end of the day tomorrow (Friday the 13th!), approximately 3,000 individual 1040's will have passed my desk this year. Er, the computer screen on my desk. I review them.
There will some, maybe 50, in which the taxpayer's gross income is over $500,000 and their effective tax rate will be under 17%. Run with that little nugget as you will, but it's a fact.
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Bam Bam is spouting off again about people who earn a million a year not paying the same percentage as the so called middle class.
Well guess what he's wrong again.
A single filer making 1 million a year would pay in $323,935 or 32.39% of his income.
A single filer earning 50K a year would pay in $8600 or 17.2% of his income.
So you see folks people who make more pay a higher percentage of their income so it's the rest of you who aren't paying their "fair share"
Bam Bam is spouting off again about people who earn a million a year not paying the same percentage as the so called middle class.
Well guess what he's wrong again.
A single filer making 1 million a year would pay in $323,935 or 32.39% of his income.
A single filer earning 50K a year would pay in $8600 or 17.2% of his income.
So you see folks people who make more pay a higher percentage of their income so it's the rest of you who aren't paying their "fair share"
Is that the truth, the whole truth and you've not omitted anything?
[I know it's not, so you have some time to correct this post]
Bam Bam is spouting off again about people who earn a million a year not paying the same percentage as the so called middle class.
Well guess what he's wrong again.
A single filer making 1 million a year would pay in $323,935 or 32.39% of his income.
A single filer earning 50K a year would pay in $8600 or 17.2% of his income.
So you see folks people who make more pay a higher percentage of their income so it's the rest of you who aren't paying their "fair share"
Your figures in no way take into account the various forms of income.
Bam Bam is spouting off again about people who earn a million a year not paying the same percentage as the so called middle class.
Well guess what he's wrong again.
A single filer making 1 million a year would pay in $323,935 or 32.39% of his income.
A single filer earning 50K a year would pay in $8600 or 17.2% of his income.
So you see folks people who make more pay a higher percentage of their income so it's the rest of you who aren't paying their "fair share"
Mitt makes $56.000.00 a day and paid 13.9%
Not only are they not paying, the Earned Income Credit has become real popular. Do you think Obama should break the news about where that money comes from?
As I said no deductions and a flat tax % on ALL income.
lets say 12%.
You make $100 yiou pay 12% of it in taxes you make 10,000,000 you pay 12% of it.
I hate simple answers to complex scenarios because they never work out. First of all, the government could not possibly operate on 12% taxes, plain and simple, so I must assume that you are not including Fica taxes. Now we include Fica taxes, and the poor and middle class will be taxed at a rate closer to 27% while the very wealthy will only pay 12% to 13%. Top this off with the fact that lower income earners pay the highest percentage of taxes at the state level and the lowest income earners would then be taxed at a combined rate well above 40%, while the wealthiest would be taxed at a rate well below 20%. This is the end game of the nutjobs. They think that this is really a good idea to let the wealthy be taxed the least while the working poor are destroyed. Of course the problem with all of this is that it would completely destroy the economy, but hey, it's still fun to keep screaming how we need a flat tax with no deductions so everyone pays the same amount, even though we all know it's the biggest lie there is.
I heard Obama yesterday wanting the fair share to be paid. But, 47% of America pays no income tax...how is this their fair share?
If one has no income, one should not have to pay income tax.
DUH.
Link?Bam Bam is spouting off again about people who earn a million a year not paying the same percentage as the so called middle class.
Well guess what he's wrong again.
A single filer making 1 million a year would pay in $323,935 or 32.39% of his income.
A single filer earning 50K a year would pay in $8600 or 17.2% of his income.
So you see folks people who make more pay a higher percentage of their income so it's the rest of you who aren't paying their "fair share"