Soak the Rich, Lose the Rich

[Chris]

The BBC reported startling economic equality figures in a recent documentary: the top 200 wealthiest people in the world control more wealth than the bottom 4 billion. But what is more striking to many is a close look at the economic inequality in the homeland of the "American Dream." The United States is the most economically stratified society in the western world. As THE WALL STREET JOURNAL reported, a recent study found that the top .01% or 14,000 American families hold 22.2% of wealth — the bottom 90%, or over 133 million families, just 4% of the nation's wealth.

Bill Moyers Journal . Steve Fraser on Gilded Ages | PBS

 

[elvis]

The BBC reported startling economic equality figures in a recent documentary: the top 200 wealthiest people in the world control more wealth than the bottom 4 billion. But what is more striking to many is a close look at the economic inequality in the homeland of the "American Dream." The United States is the most economically stratified society in the western world. As THE WALL STREET JOURNAL reported, a recent study found that the top .01% or 14,000 American families hold 22.2% of wealth — the bottom 90%, or over 133 million families, just 4% of the nation's wealth.

Bill Moyers Journal . Steve Fraser on Gilded Ages | PBS

What a shame. Karl Marx must be rolling in his grave.

 

[edthecynic]

The rich need their taxes raised.

When Warren Buffett pays taxes at a lower rate than his secretary, something is wrong.

Then his secretay takes one hell of a paycheck home with her.

The wealthy in this country pay 67% of the entire tax base of this country.

1.3 Million Americans contribute more to the tax base than 138 MILLION. That is a FACT.

Even LimpBoy admits the WEALTHY pay no taxes.
It's the upper middle class WAGE EARNER who pays the bulk of the taxes not the wealthy Capital Gains Tycoon.

But it's not as hard to dodge your taxes as LimpBoy would have you believe, CON$ never tell the whole truth.
You need only know how the wealthy pervert the charity deduction and then take advantage of the deduction yourself. You use your "charity" to accumulate and protect your wealth.

The way to outsmart the wealthy and get them to pay their fair share of taxes is to eliminate the charity deduction.

Mrs. Clinton Honest About Taxes
August 7, 2007
CALLER: And, you know, and the way our tax system works, we have an overly complex system, which in and of itself is a problem, but the way our tax system works and the way the tax laws are written, it's based on a few kind of like hinge numbers like adjusted gross income and taxable income, and while the soak the rich -- or however you choose to describe it -- really doesn't come down that way. It really comes down to much lower income levels.

RUSH: It does, exactly, and here's the dirty little secret if you ever to pull it off. It's hard. This is why most people don't understand the tax-the-rich business. You've got to structure your life so you have no "earned" income. I'm out of time. I'll explain that. There's a category called earned income versus other kinds of income. Earned income is what the income tax rate is on. That's how "the rich" do it. They don't have "earned" income.
END TRANSCRIPT

The Truth About Taxes
The Truth About Taxes
August 6, 2007
RUSH: I've told you before: the income tax is designed to keep people like his [Buffett's] secretary from becoming wealthy! There is no "wealth" tax. So this is a big misnomer. ...

But there's no tax on wealth. There is a tax on income, and the tax on income is designed to keep everybody who is not wealthy from getting there.
I'm talking about genuine wealth, not the way Democrats define "rich."

Socialist Annoyed by Host Sniffles
June 14, 2007
RUSH: a lot of people, a lot of people wealthy people set up foundations and they do this to keep the government from getting the money.

 

[oreo]

The rich need their taxes raised.

When Warren Buffett pays taxes at a lower rate than his secretary, something is wrong.

Then his secretay takes one hell of a paycheck home with her.

The wealthy in this country pay 67% of the entire tax base of this country.

1.3 Million Americans contribute more to the tax base than 138 MILLION. That is a FACT.

Even LimpBoy admits the WEALTHY pay no taxes.
It's the upper middle class WAGE EARNER who pays the bulk of the taxes not the wealthy Capital Gains Tycoon.

But it's not as hard to dodge your taxes as LimpBoy would have you believe, CON$ never tell the whole truth.
You need only know how the wealthy pervert the charity deduction and then take advantage of the deduction yourself. You use your "charity" to accumulate and protect your wealth.

The way to outsmart the wealthy and get them to pay their fair share of taxes is to eliminate the charity deduction.

Mrs. Clinton Honest About Taxes
August 7, 2007
CALLER: And, you know, and the way our tax system works, we have an overly complex system, which in and of itself is a problem, but the way our tax system works and the way the tax laws are written, it's based on a few kind of like hinge numbers like adjusted gross income and taxable income, and while the soak the rich -- or however you choose to describe it -- really doesn't come down that way. It really comes down to much lower income levels.

RUSH: It does, exactly, and here's the dirty little secret if you ever to pull it off. It's hard. This is why most people don't understand the tax-the-rich business. You've got to structure your life so you have no "earned" income. I'm out of time. I'll explain that. There's a category called earned income versus other kinds of income. Earned income is what the income tax rate is on. That's how "the rich" do it. They don't have "earned" income.
END TRANSCRIPT

The Truth About Taxes
The Truth About Taxes
August 6, 2007
RUSH: I've told you before: the income tax is designed to keep people like his [Buffett's] secretary from becoming wealthy! There is no "wealth" tax. So this is a big misnomer. ...

But there's no tax on wealth. There is a tax on income, and the tax on income is designed to keep everybody who is not wealthy from getting there.
I'm talking about genuine wealth, not the way Democrats define "rich."

Socialist Annoyed by Host Sniffles
June 14, 2007
RUSH: a lot of people, a lot of people wealthy people set up foundations and they do this to keep the government from getting the money.

Earned income versus investment income has always been taxed differently.

But the FACT REMAINS that the wealthy in this country aka the over 250K crowd still pay 67% of the entire tax base of this country. And that 1.3 MILLION Americans pay more to the tax base of this country than the other 138 MILLION.

The issue of whether it's' earned income or investment income has ABSOLUTELY nothing to do with those facts.

 

[Chris]

Then his secretay takes one hell of a paycheck home with her.

The wealthy in this country pay 67% of the entire tax base of this country.

1.3 Million Americans contribute more to the tax base than 138 MILLION. That is a FACT.

Even LimpBoy admits the WEALTHY pay no taxes.
It's the upper middle class WAGE EARNER who pays the bulk of the taxes not the wealthy Capital Gains Tycoon.

But it's not as hard to dodge your taxes as LimpBoy would have you believe, CON$ never tell the whole truth.
You need only know how the wealthy pervert the charity deduction and then take advantage of the deduction yourself. You use your "charity" to accumulate and protect your wealth.

The way to outsmart the wealthy and get them to pay their fair share of taxes is to eliminate the charity deduction.

Mrs. Clinton Honest About Taxes
August 7, 2007
CALLER: And, you know, and the way our tax system works, we have an overly complex system, which in and of itself is a problem, but the way our tax system works and the way the tax laws are written, it's based on a few kind of like hinge numbers like adjusted gross income and taxable income, and while the soak the rich -- or however you choose to describe it -- really doesn't come down that way. It really comes down to much lower income levels.

RUSH: It does, exactly, and here's the dirty little secret if you ever to pull it off. It's hard. This is why most people don't understand the tax-the-rich business. You've got to structure your life so you have no "earned" income. I'm out of time. I'll explain that. There's a category called earned income versus other kinds of income. Earned income is what the income tax rate is on. That's how "the rich" do it. They don't have "earned" income.
END TRANSCRIPT

The Truth About Taxes
The Truth About Taxes
August 6, 2007
RUSH: I've told you before: the income tax is designed to keep people like his [Buffett's] secretary from becoming wealthy! There is no "wealth" tax. So this is a big misnomer. ...

But there's no tax on wealth. There is a tax on income, and the tax on income is designed to keep everybody who is not wealthy from getting there.
I'm talking about genuine wealth, not the way Democrats define "rich."

Socialist Annoyed by Host Sniffles
June 14, 2007
RUSH: a lot of people, a lot of people wealthy people set up foundations and they do this to keep the government from getting the money.

Earned income versus investment income has always been taxed differently.

But the FACT REMAINS that the wealthy in this country aka the over 250K crowd still pay 67% of the entire tax base of this country. And that 1.3 MILLION Americans pay more to the tax base of this country than the other 138 MILLION.

The issue of whether it's' earned income or investment income has ABSOLUTELY nothing to do with those facts.

Sorry, it has EVERYTHING to do with these facts.

When a person earning 60K a year pays a higher PERCENTAGE of their income to taxes than Buffett, something is wrong.

The tax system is set up so wage earners pay taxes, and the rich avoid them.

 

[oreo]

Even LimpBoy admits the WEALTHY pay no taxes.
It's the upper middle class WAGE EARNER who pays the bulk of the taxes not the wealthy Capital Gains Tycoon.

But it's not as hard to dodge your taxes as LimpBoy would have you believe, CON$ never tell the whole truth.
You need only know how the wealthy pervert the charity deduction and then take advantage of the deduction yourself. You use your "charity" to accumulate and protect your wealth.

The way to outsmart the wealthy and get them to pay their fair share of taxes is to eliminate the charity deduction.

Mrs. Clinton Honest About Taxes
August 7, 2007
CALLER: And, you know, and the way our tax system works, we have an overly complex system, which in and of itself is a problem, but the way our tax system works and the way the tax laws are written, it's based on a few kind of like hinge numbers like adjusted gross income and taxable income, and while the soak the rich -- or however you choose to describe it -- really doesn't come down that way. It really comes down to much lower income levels.

RUSH: It does, exactly, and here's the dirty little secret if you ever to pull it off. It's hard. This is why most people don't understand the tax-the-rich business. You've got to structure your life so you have no "earned" income. I'm out of time. I'll explain that. There's a category called earned income versus other kinds of income. Earned income is what the income tax rate is on. That's how "the rich" do it. They don't have "earned" income.
END TRANSCRIPT

The Truth About Taxes
The Truth About Taxes
August 6, 2007
RUSH: I've told you before: the income tax is designed to keep people like his [Buffett's] secretary from becoming wealthy! There is no "wealth" tax. So this is a big misnomer. ...

But there's no tax on wealth. There is a tax on income, and the tax on income is designed to keep everybody who is not wealthy from getting there.
I'm talking about genuine wealth, not the way Democrats define "rich."

Socialist Annoyed by Host Sniffles
June 14, 2007
RUSH: a lot of people, a lot of people wealthy people set up foundations and they do this to keep the government from getting the money.

Earned income versus investment income has always been taxed differently.

But the FACT REMAINS that the wealthy in this country aka the over 250K crowd still pay 67% of the entire tax base of this country. And that 1.3 MILLION Americans pay more to the tax base of this country than the other 138 MILLION.

The issue of whether it's' earned income or investment income has ABSOLUTELY nothing to do with those facts.

Sorry, it has EVERYTHING to do with these facts.

When a person earning 60K a year pays a higher PERCENTAGE of their income to taxes than Buffett, something is wrong.

The tax system is set up so wage earners pay taxes, and the rich avoid them.

Criss I am an employer & make out weekly paychecks. Of course you & your employer are responsible for paying 15.3% of your gross payroll to social security/medicare. Then your gross pay is scaled on the amount you earn to determine your tax liability--PERIOD.

Investment income is NOT taxed for socialsecurity/medicare taxes as it is NOT considered earned income. If you are one of the millions in the MIDDLE CLASS that has a 401K or other investments (stocks-bonds--etc.) you will be taxed on your capital gains at 15% & so will Warren Buffett.

The point is: This does not make one single difference in the absolute FACT that the wealthy in this country STILL pay 67% of the entire tax base in this country. 1.3 MILLION Americans are paying more to the tax base of this country than the other 138 MILLION.

 

[Chris]

Earned income versus investment income has always been taxed differently.

But the FACT REMAINS that the wealthy in this country aka the over 250K crowd still pay 67% of the entire tax base of this country. And that 1.3 MILLION Americans pay more to the tax base of this country than the other 138 MILLION.

The issue of whether it's' earned income or investment income has ABSOLUTELY nothing to do with those facts.

Sorry, it has EVERYTHING to do with these facts.

When a person earning 60K a year pays a higher PERCENTAGE of their income to taxes than Buffett, something is wrong.

The tax system is set up so wage earners pay taxes, and the rich avoid them.

Criss I am an employer & make out weekly paychecks. Of course you & your employer are responsible for paying 15.3% of your gross payroll to social security/medicare. Then your gross pay is scaled on the amount you earn to determine your tax liability--PERIOD.

Investment income is NOT taxed for socialsecurity/medicare taxes as it is NOT considered earned income. If you are one of the millions in the MIDDLE CLASS that has a 401K or other investments (stocks-bonds--etc.) you will be taxed on your capital gains at 15% & so will Warren Buffett.

The point is: This does not make one single difference in the absolute FACT that the wealthy in this country STILL pay 67% of the entire tax base in this country. 1.3 MILLION Americans are paying more to the tax base of this country than the other 138 MILLION.

They aren't paying enough.

We have the widest inequity of wealth of all the industrialized nations.

At one point the top 26 hedge fund managers were averaging $826 million dollars a year in income.

This is money they stole from hard working people's IRAs.

 

[elvis]

Sorry, it has EVERYTHING to do with these facts.

When a person earning 60K a year pays a higher PERCENTAGE of their income to taxes than Buffett, something is wrong.

The tax system is set up so wage earners pay taxes, and the rich avoid them.

Criss I am an employer & make out weekly paychecks. Of course you & your employer are responsible for paying 15.3% of your gross payroll to social security/medicare. Then your gross pay is scaled on the amount you earn to determine your tax liability--PERIOD.

Investment income is NOT taxed for socialsecurity/medicare taxes as it is NOT considered earned income. If you are one of the millions in the MIDDLE CLASS that has a 401K or other investments (stocks-bonds--etc.) you will be taxed on your capital gains at 15% & so will Warren Buffett.

The point is: This does not make one single difference in the absolute FACT that the wealthy in this country STILL pay 67% of the entire tax base in this country. 1.3 MILLION Americans are paying more to the tax base of this country than the other 138 MILLION.

They aren't paying enough.

We have the widest inequity of wealth of all the industrialized nations.

At one point the top 26 hedge fund managers were averaging $826 million dollars a year in income.

This is money they stole from hard working people's IRAs.

yeah every single one em, eh scumfuck?

 

[edthecynic]

Then his secretay takes one hell of a paycheck home with her.

The wealthy in this country pay 67% of the entire tax base of this country.

1.3 Million Americans contribute more to the tax base than 138 MILLION. That is a FACT.

Even LimpBoy admits the WEALTHY pay no taxes.
It's the upper middle class WAGE EARNER who pays the bulk of the taxes not the wealthy Capital Gains Tycoon.

But it's not as hard to dodge your taxes as LimpBoy would have you believe, CON$ never tell the whole truth.
You need only know how the wealthy pervert the charity deduction and then take advantage of the deduction yourself. You use your "charity" to accumulate and protect your wealth.

The way to outsmart the wealthy and get them to pay their fair share of taxes is to eliminate the charity deduction.

Mrs. Clinton Honest About Taxes
August 7, 2007
CALLER: And, you know, and the way our tax system works, we have an overly complex system, which in and of itself is a problem, but the way our tax system works and the way the tax laws are written, it's based on a few kind of like hinge numbers like adjusted gross income and taxable income, and while the soak the rich -- or however you choose to describe it -- really doesn't come down that way. It really comes down to much lower income levels.

RUSH: It does, exactly, and here's the dirty little secret if you ever to pull it off. It's hard. This is why most people don't understand the tax-the-rich business. You've got to structure your life so you have no "earned" income. I'm out of time. I'll explain that. There's a category called earned income versus other kinds of income. Earned income is what the income tax rate is on. That's how "the rich" do it. They don't have "earned" income.
END TRANSCRIPT

The Truth About Taxes
The Truth About Taxes
August 6, 2007
RUSH: I've told you before: the income tax is designed to keep people like his [Buffett's] secretary from becoming wealthy! There is no "wealth" tax. So this is a big misnomer. ...

But there's no tax on wealth. There is a tax on income, and the tax on income is designed to keep everybody who is not wealthy from getting there.
I'm talking about genuine wealth, not the way Democrats define "rich."

Socialist Annoyed by Host Sniffles
June 14, 2007
RUSH: a lot of people, a lot of people wealthy people set up foundations and they do this to keep the government from getting the money.

Earned income versus investment income has always been taxed differently.

But the FACT REMAINS that the wealthy in this country aka the over 250K crowd still pay 67% of the entire tax base of this country. And that 1.3 MILLION Americans pay more to the tax base of this country than the other 138 MILLION.

The issue of whether it's' earned income or investment income has ABSOLUTELY nothing to do with those facts.

But it is a cooked "FACT!"
If you were observant, you would see two things in the disclaimer for that "fact."

First it is AGI which stands for ADJUSTED Gross Income and the truly wealthy can adjust their taxable income to ZERO.

For example, I don't know if you are old enough to remember, but when Nelson A Rockefeller was appointed Vice President he made his tax return public. Now there is no denying the Rockefeller family are truly wealthy by any standard, and on a 7 figure income he had not one red cent of taxable income.

And second they do not count payroll taxes in that "ENTIRE TAX BASE" your "fact" is only INCOME tax AFTER adjustment.

According to the latest CBO report on table 1 page 18, the Share of Total Federal Tax Liabilities of the top 1% for 2008 was 20.7%, down from 21.1% in 2007. The top 5% was 36.7% down from 37.0% in 2007 and the top 10% was 48.3% down from 48.5% in 2007.
Only 2% of the population has a taxable income of $250k or more so your 67% "fact" is completely outrageous.

[PDF download] A P A P E R

 

[edthecynic]

Earned income versus investment income has always been taxed differently.

But the FACT REMAINS that the wealthy in this country aka the over 250K crowd still pay 67% of the entire tax base of this country. And that 1.3 MILLION Americans pay more to the tax base of this country than the other 138 MILLION.

The issue of whether it's' earned income or investment income has ABSOLUTELY nothing to do with those facts.

Sorry, it has EVERYTHING to do with these facts.

When a person earning 60K a year pays a higher PERCENTAGE of their income to taxes than Buffett, something is wrong.

The tax system is set up so wage earners pay taxes, and the rich avoid them.

Criss I am an employer & make out weekly paychecks. Of course you & your employer are responsible for paying 15.3% of your gross payroll to social security/medicare. Then your gross pay is scaled on the amount you earn to determine your tax liability--PERIOD.

Investment income is NOT taxed for socialsecurity/medicare taxes as it is NOT considered earned income. If you are one of the millions in the MIDDLE CLASS that has a 401K or other investments (stocks-bonds--etc.) you will be taxed on your capital gains at 15% & so will Warren Buffett.

The point is: This does not make one single difference in the absolute FACT that the wealthy in this country STILL pay 67% of the entire tax base in this country. 1.3 MILLION Americans are paying more to the tax base of this country than the other 138 MILLION.

Like all CON$, you present your "stats" in the most deceptive way humanly possible!!!

If you are one of the millions in the middle class who owns stock, you have a tiny drop of such capital assets compared to the truly wealthy.

Table 5: Concentration of stock ownership by wealth class in the United States, 2001
Wealth class - Percent of all stock owned
Top 1% = 33.5%
Next 19% = 55.8%
Bottom 80% = 10.7%

From Wolff (2004). Includes direct ownership of stock shares and indirect ownership through mutual funds, trusts, and IRAs, Keogh plans, 401(k) plans, and other retirement accounts. All figures are in 2001 dollars.

 

[Fatality]

[ame=http://www.youtube.com/watch?v=hUokMbJC3P8]YouTube - Ten Years After - I'd Love To Change The World[/ame]

"Everywhere is freaks and hairies
Dykes and fairies, tell me where is sanity
Tax the rich, feed the poor
Till there are no rich no more"


nutters who hate rich people are just ******* envious welfare recipient beggars who would love to be rich but arent willing to do what it takes to get there. being poor is a matter of choice, so is being rich

 

[editec]

Such income and asset disparity is not healthy in a democratic republic.

But it is certainly indicative that we live in a shamocracy.

The wealthy control the very government that most of you clueless conservatives think is out of control.

Out of control?

Don't make me laugh,

This is the most controlled government in the world.

It's controlled by the very people you idiots worship...the stupendously rich.

If you don't like what your government is doing, blame the people you worship.

They control the damned thing, after all

 

[ozzmdj]

Such income and asset disparity is not healthy in a democratic republic.

But it is certainly indicative that we live in a shamocracy.

The wealthy control the very government that most of you clueless conservatives think is out of control.

Out of control?

Don't make me laugh,

This is the most controlled government in the world.

It's controlled by the very people you idiots worship...the stupendously rich.

If you don't like what your government is doing, blame the people you worship.

They control the damned thing, after all

 

[edthecynic]

YouTube - Ten Years After - I'd Love To Change The World

"Everywhere is freaks and hairies
Dykes and fairies, tell me where is sanity
Tax the rich, feed the poor
Till there are no rich no more"


nutters who hate rich people are just ******* envious welfare recipient beggars who would love to be rich but arent willing to do what it takes to get there. being poor is a matter of choice, so is being rich

You do know that Libs earn on the average 6% more income than the envious CON$, don't you????

[ame="http://www.youtube.com/watch?v=H3L1uZ3Chtg"]YouTube - Steppenwolf MONSTER 2008[/ame]

America, where are you now
Don't you care about your sons and daughters.
America, we need you now
We can't fight alone against the Monster.

 

[KittenKoder]

YouTube - Ten Years After - I'd Love To Change The World

"Everywhere is freaks and hairies
Dykes and fairies, tell me where is sanity
Tax the rich, feed the poor
Till there are no rich no more"


nutters who hate rich people are just ******* envious welfare recipient beggars who would love to be rich but arent willing to do what it takes to get there. being poor is a matter of choice, so is being rich

You do know that Libs earn on the average 6% more income than the envious CON$, don't you????


America, where are you now
Don't you care about your sons and daughters.
America, we need you now
We can't fight alone against the Monster.

If that's true, then why are the "libs" for paying more taxes? If they were making more money then why do they feel the need to force themselves to do the right thing in the first place?

 

[edthecynic]

YouTube - Ten Years After - I'd Love To Change The World

"Everywhere is freaks and hairies
Dykes and fairies, tell me where is sanity
Tax the rich, feed the poor
Till there are no rich no more"


nutters who hate rich people are just ******* envious welfare recipient beggars who would love to be rich but arent willing to do what it takes to get there. being poor is a matter of choice, so is being rich

You do know that Libs earn on the average 6% more income than the envious CON$, don't you????


America, where are you now
Don't you care about your sons and daughters.
America, we need you now
We can't fight alone against the Monster.

If that's true, then why are the "libs" for paying more taxes? If they were making more money then why do they feel the need to force themselves to do the right thing in the first place?

It is true, the stat comes from the CON$ themselves when they boast about how generous they are.
A better question is why are CON$ so upset with Libs taxing themselves???

RealClearPolitics - Articles - Conservatives More Liberal Givers
March 27, 2008
Conservatives More Liberal Givers
By George Will

Although liberal families' incomes average 6 percent higher than those of conservative families, conservative-headed households give, on average, 30 percent more to charity than the average liberal-headed household ($1,600 per year vs. $1,227).

 

[KittenKoder]

You do know that Libs earn on the average 6% more income than the envious CON$, don't you????


America, where are you now
Don't you care about your sons and daughters.
America, we need you now
We can't fight alone against the Monster.

If that's true, then why are the "libs" for paying more taxes? If they were making more money then why do they feel the need to force themselves to do the right thing in the first place?

It is true, the stat comes from the CON$ themselves when they boast about how generous they are.
A better question is why are CON$ so upset with Libs taxing themselves???

RealClearPolitics - Articles - Conservatives More Liberal Givers
March 27, 2008
Conservatives More Liberal Givers
By George Will

Although liberal families' incomes average 6 percent higher than those of conservative families, conservative-headed households give, on average, 30 percent more to charity than the average liberal-headed household ($1,600 per year vs. $1,227).

Your question is easy to answer, because it's the same reason I don't want the rich to be taxed more (they already pay most of the taxes collected) ... it will take away funds from programs that do actually help as well as force prices up.

 

[garyd]

First ed you are comparing apples to oranges. It is mostly libs who are second generation wealthy. It is even more interesting to note that our current tax structure doean't penalize inparticular old money but makes the generation of more wealth far more difficult and far more time consumng. So basically it is the left passing laws the let them hang on to their wealth while preventing anyone else from being able to catch up.

 

[oreo]

Sorry, it has EVERYTHING to do with these facts.

When a person earning 60K a year pays a higher PERCENTAGE of their income to taxes than Buffett, something is wrong.

The tax system is set up so wage earners pay taxes, and the rich avoid them.

Criss I am an employer & make out weekly paychecks. Of course you & your employer are responsible for paying 15.3% of your gross payroll to social security/medicare. Then your gross pay is scaled on the amount you earn to determine your tax liability--PERIOD.

Investment income is NOT taxed for socialsecurity/medicare taxes as it is NOT considered earned income. If you are one of the millions in the MIDDLE CLASS that has a 401K or other investments (stocks-bonds--etc.) you will be taxed on your capital gains at 15% & so will Warren Buffett.

The point is: This does not make one single difference in the absolute FACT that the wealthy in this country STILL pay 67% of the entire tax base in this country. 1.3 MILLION Americans are paying more to the tax base of this country than the other 138 MILLION.

They aren't paying enough.

We have the widest inequity of wealth of all the industrialized nations.

At one point the top 26 hedge fund managers were averaging $826 million dollars a year in income.

This is money they stole from hard working people's IRAs.

We are not a socialist nation. If you are one then move to one--which is commonly 3rd world countries & see how you like it.

People who take risks in this country--are rewarded for it. Because it is they that are doing the hiring--investing in new technology--etc.etc. If you penalize these Americans for their success so they can give their hard earned work to you--they will leave this country in groves only to find a country that welcomes them.

THERE HAS NEVER BEEN A POOR PERSON-- EVER-- THAT HAS EMPLOYED ANOTHER POOR PERSON.

 

[edthecynic]

If that's true, then why are the "libs" for paying more taxes? If they were making more money then why do they feel the need to force themselves to do the right thing in the first place?

It is true, the stat comes from the CON$ themselves when they boast about how generous they are.
A better question is why are CON$ so upset with Libs taxing themselves???

RealClearPolitics - Articles - Conservatives More Liberal Givers
March 27, 2008
Conservatives More Liberal Givers
By George Will

Although liberal families' incomes average 6 percent higher than those of conservative families, conservative-headed households give, on average, 30 percent more to charity than the average liberal-headed household ($1,600 per year vs. $1,227).

Your question is easy to answer, because it's the same reason I don't want the rich to be taxed more (they already pay most of the taxes collected) ... it will take away funds from programs that do actually help as well as force prices up.

But that's not true. I've already shown that it's the upper middle class WAGE EARNER who pays the bulk of the taxes not the truly wealthy. As even LimpBoy admits the Rich/Wealthy pay NO taxes by perverting the "charity" deduction.

If you want the people who are paying most of the taxes now to get a tax break you need to eliminate all charity deductions. Once these phony funds and foundations start paying taxes, the middle class can have their taxes cut.

Also, once the wealthy are paying taxes they won't let their government political puppets waste their tax money. Right now they don't care how much of the middle class' money their government puppets piss away, but as soon as it's THEIR money that's wasted they will put an end to the overspending.