I am like most of you on this board....

[healthmyths]

 

[Delldude]

Rich aren't paying their fair share...

 

[leftwinger]

Stain were upset on 21% corporate tax rate (was 28% before Trump). Obiden didn’t change it? Yet they chirp. I’m no expert, but business hired and grew on that 7% extra. I know. I lived it.

Therefore income Tax revenue went up pre-flu launch. Things were going steady upwards DEC 2019.

 

[1srelluc]

Rich aren't paying their fair share...

They just have better tax lawyers than you do.

I think it's every American's duty to keep as much of their wealth from the tax man as possible.

 

[DBA]

These are overgrown kids talking about the "rich" not paying their fair share. They don't have a clue because they don't make enough money to know. Accountants will tell you that their working wealthy clients(not ultra-wealthy) pay the lion share of taxes.

 

[Toddsterpatriot]

I am like most of you on this board....​

But you're worse at math. Much worse.

 

[Independent thinker]

These are overgrown kids talking about the "rich" not paying their fair share. They don't have a clue because they don't make enough money to know. Accountants will tell you that their working wealthy clients(not ultra-wealthy) pay the lion share of taxes.

It's mind boggling to me that many of the close to 50% who don't pay any federal income taxes at all complain about the rich not paying their fair share. I personally don't think zero is a fair share.

 

[Toddsterpatriot]

Stain were upset on 21% corporate tax rate (was 28% before Trump). Obiden didn’t change it? Yet they chirp. I’m no expert, but business hired and grew on that 7% extra. I know. I lived it.

Therefore income Tax revenue went up pre-flu launch. Things were going steady upwards DEC 2019.

The corporate tax rate was 35% before Trump.

 

[healthmyths]

Rich aren't paying their fair share...

So what should the rich pay if they are already paying 97% of the taxes? Again I'm not making statements with out proof. What is your Proof that aren't paying their fair share, i.e. "WHAT EXACTLY IS THEIR FAIR SHARE??? Come on tell me!
They match your SS/Medicare payments. They actually pay double on dividends which you don't seem to understand less than know! Here are the facts regarding double taxation on dividends!
Double Taxation
This occurs because the corporation first pays taxes on its profits. Then, when dividends are distributed to shareholders, those dividends are taxed again at the shareholders' individual income tax rates. To avoid double taxation, one option is to structure the business as a “flow-through” or “pass-through” entity

What Double Taxation Is and How to Avoid It

If you own a business, the last thing you want is to get taxed on your income twice. We explain double taxation and how to avoid it.

smartasset.com

Now for your simple mind... Corporations pay taxes on profits. Then if there is $$ left over for dividends, the stockholders that receive the dividends...THEY HAVE TO REPORT THE DIVIDENDS AS TAXABLE INCOME!

 

[1srelluc]

It's mind boggling to me that many of the close to 50% who don't pay any federal income taxes at all complain about the rich not paying their fair share. I personally don't think zero is a fair share.

Given how the bulk of our tax money is grifted away with things like Trillion dollar plus infrastructure bills that net nothing while our air traffic control systems date from the 80s it's no small wonder folks want to keep their money away from the IRS and states like CA and NY.

 

[leftwinger]

Does the math work? Do rich end up paying “it” in COGS?

The corporate tax rate was 35% before Trump.

Hard to find using censored Google. But. Buried in an article complaining,

2017 tax law drastically cut the statutory corporate tax rate from 35 to 21 percent. It also expanded tax breaks for corporate expenses characterized as capital investment and expanded other ways to minimize U.S. tax liability.

 

[Delldude]

Now for your simple mind...

Look asshole, that is a comedic reference to the left.

Sorry if I triggered you.............

 

[leftwinger]

Plan floated. Replace IRS with ERS. Eliminate Income Tax on individuals? Replace it wit tarriff revenue?

Maybe….but seems like someone has to find $4T$5T$7T to keep feeding the deep state and corruption.

Cold it be done? How about 401K or IRA never taxed dollars?

 

[Toddsterpatriot]

Does the math work? Do rich end up paying “it” in COGS?


Hard to find using censored Google. But. Buried in an article complaining,

2017 tax law drastically cut the statutory corporate tax rate from 35 to 21 percent. It also expanded tax breaks for corporate expenses characterized as capital investment and expanded other ways to minimize U.S. tax liability.

It also expanded tax breaks for corporate expenses characterized as capital investment and expanded other ways to minimize U.S. tax liability.

Didn't expand them, capital investments were always deductible but allowed a portion to be immediately written off.

 

[Winston]

View attachment 1109209

Why do you address income taxes and Social Security taxes in the same post. It is absolutely disingenuous to state that the top 50% of taxpayers paid 97% of the income taxes when income taxes only account for 49% of total government revenue. 35% of total revenue comes from the payroll taxes.

Nor is it even topical to make the statement that employers paid part of those Social Security taxes. You don't think they factor that in that when calculating compensation? Those employers no more pay those taxes than they pay corporate income taxes, which comes in at eleven percent of total revenue. How many times have we heard it, corporations just pass those taxes on to consumers. Not totally true, however, it is true, that employers simply reduce compensation to employees to cover their share of the payroll tax.

Finally, 93% of the population pays the payroll tax on 100% of their earnings. The other seven percent up against the cap. The top five percent, they might pay the payroll tax on a third of their income. The top one percent, not even a fifth.

Fiscal Data Explains Federal Revenue

Check out @FiscalService Fiscal Data’s new federal revenue page! #FederalRevenue

fiscaldata.treasury.gov

https://www.ssa.gov/policy/docs/chartbooks/fast_facts/2023/fast_facts23.pdf

What Kinds of Revenue Does the Government Collect? | Bipartisan Policy Center

In fiscal year (FY) 2024, the U.S. federal government collected approximately $5 trillion in revenue. Knowing from what sources the federal government generates its…

bipartisanpolicy.org

 

[Mac-7]

Rich aren't paying their fair share...

That was not a serious post

The rich pay more than anyone else

 

[Independent thinker]

Given how the bulk of our tax money is grifted away with things like Trillion dollar plus infrastructure bills that net nothing while our air traffic control systems date from the 80s it's no small wonder folks want to keep their money away from the IRS and states like CA and NY.

I'm actually against raising the SALT cap. That's one thing that has really helped out with floods of people moving out of those blue high taxed states. High tax rates from those blue states should not be subsidized by the federal government as tax deductions. If those blue states want to tax their residents to death then let them. It also doesn't make much sense to me that Trump is now talking about higher tax rates for the rich but then wants to raise the SALT cap.

 

[Delldude]

That was not a serious post

The rich pay more than anyone else

#12

 

[Winston]

It's mind boggling to me that many of the close to 50% who don't pay any federal income taxes at all complain about the rich not paying their fair share. I personally don't think zero is a fair share.

Then this should surprise you.

MSN

 

[Toddsterpatriot]

It is absolutely disingenuous to state that the top 50% of taxpayers paid 97% of the income taxes when income taxes only account for 49% of total government revenue. 35% of total revenue comes from the payroll taxes.

It's not like payroll taxes are funding other government spending today, right?