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wade said: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.
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.
eric said: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 said: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.
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 said:So what percent of income is "fair" to pay in taxes Wade?
wade said: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.
wade said:The tax rate should never be greater than 50%. State taxes should be credited against federal at something like 75-80%.
Wade.
eric said: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 !
Avatar4321 said: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?
It's the distribution I have a problem with
wade said: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.
wade said: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.