Wow!!!!!

[nbdysfu]

He spanked edwards like a newborn, and then edwards tried to sue him for malpractice.

 

[Mr. P]

Kerry and his wife paid the taxes as determined by out tax codes. Since that income was mostly divident income, it was taxed at the capital gains tax rate. Kerry knows his tax changes will cost him $, but he still intends to implement them because he believes it's the right thing to do.

It is not unreasonable for a person to utilize the tax shelters that are available and legal, and at the same time seek to have those shelters removed in the pursuit of fairness.

Wade.

So what percent of income is "fair" to pay in taxes Wade?

 

[eric]

It is not unreasonable for a person to utilize the tax shelters that are available and legal, and at the same time seek to have those shelters removed in the pursuit of fairness.

In my book that makes no sense at all. If I care about a cause, then I contribute to it, not wait until I am forced to by law, even if I am the one pushing for that law. Come on, lets face the facts, Kerry doesn't want to pay higher taxes, and could really care less about the average man, it is just a good ticket to run on. That is what it is all about, and anyone who can not see this is just plain naive.

 

[wade]

In my book that makes no sense at all. If I care about a cause, then I contribute to it, not wait until I am forced to by law, even if I am the one pushing for that law. Come on, lets face the facts, Kerry doesn't want to pay higher taxes, and could really care less about the average man, it is just a good ticket to run on. That is what it is all about, and anyone who can not see this is just plain naive.

That's pure BS. I want the tax rates to be increased on the upper income brackets. This will probably mean a reduction in my family income. But that does not mean that I'm going to pay extra taxes that everyone else does not have to pay if the tax rates are not increased.

 

[Mr. P]

That's pure BS. I want the tax rates to be increased on the upper income brackets. This will probably mean a reduction in my family income. But that does not mean that I'm going to pay extra taxes that everyone else does not have to pay if the tax rates are not increased.

Yes it does..wade.

 

[eric]

That's pure BS. I want the tax rates to be increased on the upper income brackets. This will probably mean a reduction in my family income. But that does not mean that I'm going to pay extra taxes that everyone else does not have to pay if the tax rates are not increased.

The reason you want it raised is so that more money will flow into the federal government for so called "good purposes", well if you feel so strongly, why not check the little box on the tax return and give the government a donation.

Kerry is a hypocrite, plain and simple. Hey I am in the highest bracket and pay more in taxes than many people earn. I try and pay as little tax as possible, I feely admit it, because at least I am honest with myself.

You want to be charitable go ahead, stop trying to force me to also. I will choose which charities to support, and I do support many, by the way.

This is where me and Kerry differ, he feels the same way, but just lies to win the support of blue collar America !

 

[wade]

So what percent of income is "fair" to pay in taxes Wade?

It depends on the level of income. I think for a family of four there should be no tax on the first $25 to $30 thousand of income. At $100 thousand, the tax rate should be such that about $20-25 thousand in taxes are being paid. At $1 million, something around $250-330 thousand, at $10 million something around $3.5-4 million, at $50 million, something around $25 million. The tax rate should never be greater than 50%. State taxes should be credited against federal at something like 75-80%.

To come up with realistic numbers you really have to set the point where the maximum tax rate will come into play, the point where taxes will start to be levied, and then set a curve to generate the needed tax revenue.

Wade.

 

[eric]

How about a much more fair tax structure -

A FLAT TAX !!!!

Why should I be penalized for my hard work and abilities ?

 

[Mr. P]

It depends on the level of income. I think for a family of four there should be no tax on the first $25 to $30 thousand of income. At $100 thousand, the tax rate should be such that about $20-25 thousand in taxes are being paid. At $1 million, something around $250-330 thousand, at $10 million something around $3.5-4 million, at $50 million, something around $25 million. The tax rate should never be greater than 50%. State taxes should be credited against federal at something like 75-80%.

To come up with realistic numbers you really have to set the point where the maximum tax rate will come into play, the point where taxes will start to be levied, and then set a curve to generate the needed tax revenue.

Wade.

That's what we do now..and it's not "fair"..We're penalizing the high income earners for the benefit of the lower..ever read "Atlas Shrugged"?

 

[eric]

Starting to smell like socialism.

 

[Avatar4321]

The tax rate should never be greater than 50%. State taxes should be credited against federal at something like 75-80%.
Wade.

Holy crap. the tax rate shouldnt be greater than 10%. to even think that people should have to work anywhere close to half a year to pay off their federal taxes and then be asked to pay a bunch of state taxes on top of that is ridiculous.

God doesnt even demand that much money. Why the heck should the government be entitled to it?

 

[Mr. P]

Starting to smell like socialism.

Exactly what it is Eric.

 

[wade]

The reason you want it raised is so that more money will flow into the federal government for so called "good purposes", well if you feel so strongly, why not check the little box on the tax return and give the government a donation.

Kerry is a hypocrite, plain and simple. Hey I am in the highest bracket and pay more in taxes than many people earn. I try and pay as little tax as possible, I feely admit it, because at least I am honest with myself.

You want to be charitable go ahead, stop trying to force me to also. I will choose which charities to support, and I do support many, by the way.

This is where me and Kerry differ, he feels the same way, but just lies to win the support of blue collar America !

No, once the tax revenues are sufficient to work down the debt and provide a mimimal level of universal health care, I'd be happy with leaving the federal budget at about the level it's at right now. It's the distribution I have a problem with.

There are two basic simple theories of the economics. The trickle down theory, which is generally embraced by the Republicans, and the Trickle up theory, which is generally ignored by all. I believe in the trickle up theory.

Basically, the idea in the trickle down theory is if you put more $ in the hands of the wealthy they will invest it, creating jobs, and this will create consumers who will then buy more goods and services, growing the ecomomy.

The idea in the trickle up theory is that if you put more $ in the hands of the non-wealth, they will have more $ to spend. The wealthy, being motivated to get those $ from the non-wealthy will create the means to do so (by creating new businesses, growing existing businesses, and generally compete for those $), thus growing the economy. If the wealthy deserve to be wealthy, they should have no problem getting the $ from the non-wealthy.

The problem with the trickle down theory is that, in this new global economy, there is no gaurantee that increasing the $ in the hands of the wealthy will result in investment in this country. In fact as we have seen, they are highly motivated to invest elsewhere. If, on the other hand, wealth is put in the hands of the non-wealthy, it is just about gauranteed that it will be spent within our country's economy.

Wade.

 

[wade]

Holy crap. the tax rate shouldnt be greater than 10%. to even think that people should have to work anywhere close to half a year to pay off their federal taxes and then be asked to pay a bunch of state taxes on top of that is ridiculous.

God doesnt even demand that much money. Why the heck should the government be entitled to it?

No, state taxes would be credited against federal taxes - it'd be between the fed and the states to determine the balance. States should be encouraged to keep the taxes down naturally, so less than a 100% credit should be given.

So in this system, someone earning, lets say $200,000 might have a fed. tax bill of $50,000 and a state tax bill of $10,000 and would pay $52,000 in tax - $42,000 to the Fed and $10,000 to the state - a total tax rate of 26%.

 

[eric]

Wade I appreciate your effort, but I assure you there is no need to lecture me on the subject of economics. I know the topic quite well, and play the game even better.

Now tell me what prompted you to believe that trickle down economics is what I was inferring. I wasn't debating economics, but on the contrary, what is fair.

America was built on capitalism, not socialism, and statement like

It's the distribution I have a problem with

lead me to believe you don't like capitalism. If that is the case then go elsewhere and stop trying to change the very principles this country was founded on !

 

[Bonnie]

Kerry and his wife paid the taxes as determined by out tax codes. Since that income was mostly divident income, it was taxed at the capital gains tax rate. Kerry knows his tax changes will cost him $, but he still intends to implement them because he believes it's the right thing to do.

It is not unreasonable for a person to utilize the tax shelters that are available and legal, and at the same time seek to have those shelters removed in the pursuit of fairness.

Wade.

That is not only unreasonable it's absolutely ridiculous.

 

[musicman]

The problem with the politics of envy is that it celebrates the penalizing of others, even when that translates into no gain for oneself.

A quick refresher: Jealousy and spite are CHARACTER FLAWS.

 

[fuzzykitten99]

It depends on the level of income. I think for a family of four there should be no tax on the first $25 to $30 thousand of income. At $100 thousand, the tax rate should be such that about $20-25 thousand in taxes are being paid. At $1 million, something around $250-330 thousand, at $10 million something around $3.5-4 million, at $50 million, something around $25 million. The tax rate should never be greater than 50%. State taxes should be credited against federal at something like 75-80%.

To come up with realistic numbers you really have to set the point where the maximum tax rate will come into play, the point where taxes will start to be levied, and then set a curve to generate the needed tax revenue.

Wade.

So wade...can you tell me based on these figures...where is my incentive to work harder and earn more money, only to hand nearly half of it over to the government, instead of me keeping what I earned, and distributing it how I please? I want to be a teacher, maybe eventually a professor at a university. They make more than I do now. But at your figures, with my hubby's income and mine if I were to be making even minimum salary for a teacher, we'd be paying $20-25k in taxes. Why punish hard work?

 

[fuzzykitten99]

so wade...do you plan on answering my question?