Taxing those who make money

[Darkwind]

And if your incentives punish productive people then they will stop being productive.

You're right. My wife and I will both quit our jobs if they raise taxes, because we don't need money to live.



The rich have the luxury of being able to quit their jobs if the tax rates get too high for them. The poor and middle class, on the other hand, are forced to work that much harder when taxes go up for them, to make up the lost income.

For every CEO that retires a year early because tax rates went up, there is someone chomping at the bit behind him to start their career as a CEO 1 year earlier.

You are a graduate student and can't tell the difference between having a job and being productive?

You can have a job and not be productive. Perhaps you need to take a few human psychology classes.

 

[Darkwind]

“Conservatives say if you don’t give the rich more money, they will lose their incentive to invest. As for the poor, they tell us they’ve lost all incentive because we’ve given them too much money.” — George Carlin.

I know of no conservative who says we should be giving the rich money. A ludicrous statement.

It is a telling mindset that thinks that being allowed to keep what you earn is somehow synonymous with being given something.

 

[NYcarbineer]

The top 1% of incomes own 90% of everything. They need to pay taxes. I applaud Barry for going after off-shore tax cheats.

The top 1% already pay more than the 99%. Get a fucking clue. Stop whining about what the guy next door has and mind your own business. This obsession with who earns most, this petty jealousy, is pathetic.

What's pathetic is the rich whining about having to pay more taxes than the poor.

boohoo, says the rich bitch, I pay more taxes than my gardener, my housekeeper, my nanny, my driver, and my dog walker combined!!!!! waaaa waaa waaaaa

 

[NYcarbineer]

Obviously yu cant tax people who dont make money. They dont have it.
But your point is good. Taxes set up incentives. And if your incentives punish productive people then they will stop being productive.
This isn't terribly complicated. But you would think the current administration would have realized this by now.

The current administration's tax policy has been a net cut in taxes. What the FUCK are you jabbering about?

 

[Mr Natural]

Some guy who's making $10 million a year only gets to keep half.

How's he going to get by on that?

 

[Darkwind]

Obviously yu cant tax people who dont make money. They dont have it.
But your point is good. Taxes set up incentives. And if your incentives punish productive people then they will stop being productive.
This isn't terribly complicated. But you would think the current administration would have realized this by now.

The current administration's tax policy has been a net cut in taxes. What the FUCK are you jabbering about?

When George Bush enacted an across the board tax cut, he didn't have to refer to it as a "Net" cut in taxes. Because a "Net" cut in taxes is a dishonest way of trying to make a political point.

 

[NYcarbineer]

Obviously yu cant tax people who dont make money. They dont have it.
But your point is good. Taxes set up incentives. And if your incentives punish productive people then they will stop being productive.
This isn't terribly complicated. But you would think the current administration would have realized this by now.

The current administration's tax policy has been a net cut in taxes. What the FUCK are you jabbering about?

When George Bush enacted an across the board tax cut, he didn't have to refer to it as a "Net" cut in taxes. Because a "Net" cut in taxes is a dishonest way of trying to make a political point.

You're a fucking idiot. jeezus christ.

It's funny that when Reagan cut taxes in 81 and then raised them in 82, every single fucking conservative I ever confronted with that fact responded that still the NET result was lower taxes.

 

[uscitizen]

These types of threads will keep rising in number till around April 15th.

 

[NYcarbineer]

Some guy who's making $10 million a year only gets to keep half.

How's he going to get by on that?

A guy making 10 million and paying half in taxes has a fool for a financial advisor.

 

[Gadawg73]

Misty, ONLY foster kids with disabilities get social security.
Internet and e-mail myths are rampant.

 

[Darkwind]

The current administration's tax policy has been a net cut in taxes. What the FUCK are you jabbering about?

When George Bush enacted an across the board tax cut, he didn't have to refer to it as a "Net" cut in taxes. Because a "Net" cut in taxes is a dishonest way of trying to make a political point.

You're a fucking idiot. jeezus christ.

It's funny that when Reagan cut taxes in 81 and then raised them in 82, every single fucking conservative I ever confronted with that fact responded that still the NET result was lower taxes.

When Reagan cut taxes, he said he cut taxes. He didn't have to explain how he cut taxes. Everyone knew he had. He didn't have to make disclaimers like, "A net cut in taxes" and then launch into a song and dance routine with the new math to show how he is helping everyone.

When he raised taxes, he didn't come out and say there was a "Net increase in taxes". He didn't launch into a song and dance and have to show convoluted economic models and split hairs on how the taxes were increased. Everyone knew that the taxes went up.

Along comes you and your song and dance and new fuzzy math with funny looking economic models....

Yet the best you can do is claim that this administration has a "net cut" in taxes.

Dishonesty is a used car salesman. Or a hack carrying water for a political party.

 

[MIPS]

Who benefits the most from taxing those who work for their money? How will Americans work hard to produce wealth if they are going to loss nearly half their money every April 15th? Moreover, why?

I'm not sure what you mean by "nearly half" My wife and I both work hard, and after all our deductions and credits we are paying less than 7.5% in income tax. (she pays FICA, I don't because I'm a graduate student and research assistant. I have no idea why graduate student income is exempt from FICA)



In fact, a married couple, filing jointing, with no kids, who makes $500,000 a year, and takes the standard deduction and two exemptions, will pay 30.4% of their income in federal income, social security, and medicare taxes.

The same couple making $250,000 year pays 28.2% - that includes income and FICA taxes.

30.4% is not exactly "nearly half". Its actually close to a quarter than a half.

Even a couple making $1,000,000 will pay 33.4% - this is much close to 1/3 than 1/2


check you math buddy

Check yours, what about all the other taxes you pay? like sales taxes, excise taxes, property taxes, pass through taxes (the higher cost of goods and services you pay because producers pass the cost of taxes along to the consumer), capital gains taxes, transfer taxes, alcoholic beverage taxes, tobacco taxes, air transportation taxes, utility taxes, insurance taxes, not to mention inflation, just to name a few.

Just because you don't receive a bill in the mail for these taxes they still come out of your hide. It's quite likely if you're the typical American that you do pay nearly 50% of what you make just to be governed.

 

[NYcarbineer]

When George Bush enacted an across the board tax cut, he didn't have to refer to it as a "Net" cut in taxes. Because a "Net" cut in taxes is a dishonest way of trying to make a political point.

You're a fucking idiot. jeezus christ.

It's funny that when Reagan cut taxes in 81 and then raised them in 82, every single fucking conservative I ever confronted with that fact responded that still the NET result was lower taxes.

When Reagan cut taxes, he said he cut taxes. He didn't have to explain how he cut taxes. Everyone knew he had. He didn't have to make disclaimers like, "A net cut in taxes" and then launch into a song and dance routine with the new math to show how he is helping everyone.

When he raised taxes, he didn't come out and say there was a "Net increase in taxes". He didn't launch into a song and dance and have to show convoluted economic models and split hairs on how the taxes were increased. Everyone knew that the taxes went up.

Along comes you and your song and dance and new fuzzy math with funny looking economic models....

Yet the best you can do is claim that this administration has a "net cut" in taxes.

Dishonesty is a used car salesman. Or a hack carrying water for a political party.

Did Reagan raise taxes in 1982?

Did Reagan raise the payroll tax in 1983?

 

[SwingVoter]

Who benefits the most from taxing those who work for their money? How will Americans work hard to produce wealth if they are going to loss nearly half their money every April 15th? Moreover, why?

Americans worked very hard in the high tax Clinton years, and we balanced the budget and had 4% unemployment.

I'm not worried about working until May just to pay Washington, I'm concerned about working into my 80s just to pay China for the debt created under Republicans like Bush.

 

[SwingVoter]

Did Reagan raise the payroll tax in 1983?

Reagan increased the retirement age for Social Security, something no President since has had the balls to do.

 

[Truthmatters]

Allthe years the right LONG for to return the % had a huge tax rate.

Go look at the tax rate during the "golden years" the cons long for the 1950s

Remember when we had the BEST schools in the world?

That was when the 1% had huge tax rates.


http://www.truthandpolitics.org/top-rates.php

 

[NYcarbineer]

Who benefits the most from taxing those who work for their money? How will Americans work hard to produce wealth if they are going to loss nearly half their money every April 15th? Moreover, why?

I'm not sure what you mean by "nearly half" My wife and I both work hard, and after all our deductions and credits we are paying less than 7.5% in income tax. (she pays FICA, I don't because I'm a graduate student and research assistant. I have no idea why graduate student income is exempt from FICA)



In fact, a married couple, filing jointing, with no kids, who makes $500,000 a year, and takes the standard deduction and two exemptions, will pay 30.4% of their income in federal income, social security, and medicare taxes.

The same couple making $250,000 year pays 28.2% - that includes income and FICA taxes.

30.4% is not exactly "nearly half". Its actually close to a quarter than a half.

Even a couple making $1,000,000 will pay 33.4% - this is much close to 1/3 than 1/2


check you math buddy

Check yours, what about all the other taxes you pay? like sales taxes, excise taxes, property taxes, pass through taxes (the higher cost of goods and services you pay because producers pass the cost of taxes along to the consumer), capital gains taxes, transfer taxes, alcoholic beverage taxes, tobacco taxes, air transportation taxes, utility taxes, insurance taxes, not to mention inflation, just to name a few.

Just because you don't receive a bill in the mail for these taxes they still come out of your hide. It's quite likely if you're the typical American that you do pay nearly 50% of what you make just to be governed.

You don't pay 50% if you then deduct the value of what you got back. For example, I pay town taxes every year, about .40% of my income, but in return I get a fulltime crew of town employees taking care of my roads, bridges, etc., etc., etc.

 

[Skull Pilot]

Who benefits the most from taxing those who work for their money? How will Americans work hard to produce wealth if they are going to loss nearly half their money every April 15th? Moreover, why?

I'm not sure what you mean by "nearly half" My wife and I both work hard, and after all our deductions and credits we are paying less than 7.5% in income tax. (she pays FICA, I don't because I'm a graduate student and research assistant. I have no idea why graduate student income is exempt from FICA)



In fact, a married couple, filing jointing, with no kids, who makes $500,000 a year, and takes the standard deduction and two exemptions, will pay 30.4% of their income in federal income, social security, and medicare taxes.

The same couple making $250,000 year pays 28.2% - that includes income and FICA taxes.

30.4% is not exactly "nearly half". Its actually close to a quarter than a half.

Even a couple making $1,000,000 will pay 33.4% - this is much close to 1/3 than 1/2


check you math buddy

You act as if federal income taxes are the only taxes people pay.

 

[NYcarbineer]

[When George Bush enacted an across the board tax cut, he didn't have to refer to it as a "Net" cut in taxes. Because a "Net" cut in taxes is a dishonest way of trying to make a political point.

Obama tax cuts in the stimulus package:

Tax cuts for individuals
Total: $237 billion

$116 billion: New payroll tax credit of $400 per worker and $800 per couple in 2009 and 2010. Phaseout begins at $75,000 for individuals and $150,000 for joint filers.[27]
$70 billion: Alternative minimum tax: a one year increase in AMT floor to $70,950 for joint filers for 2009.[27]
$15 billion: Expansion of child tax credit: A $1,000 credit to more families (even those that do not make enough money to pay income taxes).
$14 billion: Expanded college credit to provide a $2,500 expanded tax credit for college tuition and related expenses for 2009 and 2010. The credit is phased out for couples making more than $160,000.
$6.6 billion: Homebuyer credit: $8,000 refundable credit for all homes bought between 1/1/2009 and 12/1/2009 and repayment provision repealed for homes purchased in 2009 and held more than three years. This only applies to first-time homebuyers.[39]
$4.7 billion: Excluding from taxation the first $2,400 a person receives in unemployment compensation benefits in 2009.
$4.7 billion: Expanded earned income tax credit to increase the earned income tax credit — which provides money to low income workers — for families with at least three children.
$4.3 billion: Home energy credit to provide an expanded credit to homeowners who make their homes more energy-efficient in 2009 and 2010. Homeowners could recoup 30 percent of the cost up to $1,500 of numerous projects, such as installing energy-efficient windows, doors, furnaces and air conditioners.
$1.7 billion: for deduction of sales tax from car purchases, not interest payments phased out for incomes above $250,000.
[edit] Tax cuts for companies
Total: $51 billion

$15 billion: Allowing companies to use current losses to offset profits made in the previous five years, instead of two, making them eligible for tax refunds.
$13 billion: to extend tax credits for renewable energy production (until 2014).
$11 billion: Government contractors: Repeal a law that takes effect in 2012, requiring government agencies to withhold three percent of payments to contractors to help ensure they pay their tax bills. Repealing the law would cost $11 billion over 10 years, in part because the government could not earn interest by holding the money throughout the year.
$7 billion: Repeal bank credit: Repeal a Treasury provision that allowed firms that buy money-losing banks to use more of the losses as tax credits to offset the profits of the merged banks for tax purposes. The change would increase taxes on the merged banks by $7 billion over 10 years.
$5 billion: Bonus depreciation which extends a provision allowing businesses buying equipment such as computers to speed up its depreciation through 2009.

American Recovery and Reinvestment Act of 2009 - Wikipedia, the free encyclopedia

Feel free to post all of Obama's tax increases.

 

[The Rabbi]

Obviously yu cant tax people who dont make money. They dont have it.
But your point is good. Taxes set up incentives. And if your incentives punish productive people then they will stop being productive.
This isn't terribly complicated. But you would think the current administration would have realized this by now.

The current administration's tax policy has been a net cut in taxes. What the FUCK are you jabbering about?

No, what the fuck are YOU jabbering about? This administration has raised taxes, and proposes even more tax increases.
And whatever taxes they have cut are not serving to make anyone more productive, or to change the incentive to save and invest--unless the change is to discourage them.