Gov Christie of NJ

cawacko said:
the top 1% of earners pay 40% of the federal taxes in the country. What percent do you believe they should pay?
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I'm a little bit more focused on how much people who favor the income tax are paying, because they're not paying enough.

I bet there's a limit, and when reached, they'll sound like a TEA partier.
 
Liberty said:
I'm a little bit more focused on how much people who favor the income tax are paying, because they're not paying enough.

I bet there's a limit, and when reached, they'll sound like a TEA partier.
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I thought it would be that way with a lot of things in the USA, but I have watched people keep paying higher and higher prices for gas and cigarettes, well, most everything! It is still worth the cost of living here at this point. When it isn't, anymore, people will start migrating elsewhere, well, those that can, that is.
 
Rana said:
And the people who make more than $250,000 don't want to pay more taxes to help the nation out! I don't get whey it is alright for one group not to give back and not another?

It is all in what position you are in, I guess.
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I believe Cawacko hit the nail on the head pointing out the 40% that people who make ove 250,000 already pay. As he asked.... how much more of the pie should they be responsible for?

Rana .. I will concede that a great deal of the financial crisis was due to Greed...Wall St, Slime Balls in Congress, Racketeers, Predatory Lending.. all this is part of the equation ...along with several other factors that formulated the perfect storm that led us to where we are today. This is not an excuse to allow Government to hijack the earnings of Americans who are of a certain income class.

There is a difference between Civil Service Pensioners of New Jersey and Tax Payers of America.

Lets go over this once more ... New Jersey has a fiscal crisis .... if they dont make cuts they will go broke. So they have to trim Government expendatures to make ends meat. A huge part of the Government Expendatures is the out of whack Benefits and Pensions that State Govt Workers and Board Of Education Workers Recieve. It is a major reaon why the State and its Cities are going broke. Much like Greece and other Euro countries that are in Fiscal Crisis.

What Should a responsible leader do when faced with this problem? This Governor is facing reality. He sees that Pensioners are recieving 80% of what they were making as an active worker and recieving 100 % Health benefits. He would like to alter this a little. He is also asking the Teachers union to pay a little bit more towards their Health Care.

Why is this not the responsible thing to do on his part? Oh..I know the liberal answer ....lets raise taxes on Jerseyites who make over a certain amount...even though Jersey already has one of the highest Tax rates in the Country.. All this does is drive people out of the State and net result is lost revenue.

Yes, the Governor wants to lower Taxes too ... he wants to make New Jersey a Competative State and draw in more Business ...which will bring in more revenue. Its common sense.
 
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Rana said:
And the people who make more than $250,000 don't want to pay more taxes to help the nation out! I don't get whey it is alright for one group not to give back and not another?

It is all in what position you are in, I guess.
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If people who make 250K+ are supposed to sacrifice more for their country, why not everyone? Do you understand the fact that the people making 250K+ are ALREADY giving more of their income to taxes than those below 250K? And only THEY are supposed to "pay more to help the nation out"? Talk about loads of class warfare bullshit. Why pick on a particular economic class to support this country? If one group should "give more" should not all groups "give more"?

The fact is the wealthy pay more than lower income classes already. Yet the brain dead eat up the democratic class warfare shit like it were ice cream. Including the ridiculous claims that the rich derive more from government than the poor. (Right. Since when do the rich have their housing, food, clothing, and child care paid for by government?)

It's time liberal calss warfare assholes stopped this "rich should pay" crap. They already do. Punishing success does little to breed success. Income tax should be the same percentage for everyone, with no loopholes. The rich would still pay more. A person making 250K will pay 5 times what a person making 50K under a flat rate - and that is fair. WHY should a person making 250K pay 10 times as much? How is that equal treatment under the law? It's bullshit and regardless of how you feel about the wealthy, goes against every principle this nation was founded on.

Every person should be able to deduct a standardized amount equal to base standard of living, then pay the same percentage on any and all income in excess of that base. (maybe make a single additional deduction for retirement investments up to $X per year) If we were to adopt such a system, even setting the rate at the current lowest rate, net revenues would go up because a ton of money currently hidden behind the myriad of loopholes would be subject to the same 12% rate. Plus, the government would save massive amounts of the money they currently spend trying to track and enforce a ridiculously complex tax code.

But the libs cannot STAND the thought of treating the wealthy equally. They are so full of their economic penis envy they cannot see straight.
 
Good Luck said:
If people who make 250K+ are supposed to sacrifice more for their country, why not everyone? Do you understand the fact that the people making 250K+ are ALREADY giving more of their income to taxes than those below 250K? And only THEY are supposed to "pay more to help the nation out"? Talk about loads of class warfare bullshit. Why pick on a particular economic class to support this country? If one group should "give more" should not all groups "give more"?

The fact is the wealthy pay more than lower income classes already. Yet the brain dead eat up the democratic class warfare shit like it were ice cream. Including the ridiculous claims that the rich derive more from government than the poor. (Right. Since when do the rich have their housing, food, clothing, and child care paid for by government?)

It's time liberal calss warfare assholes stopped this "rich should pay" crap. They already do. Punishing success does little to breed success. Income tax should be the same percentage for everyone, with no loopholes. The rich would still pay more. A person making 250K will pay 5 times what a person making 50K under a flat rate - and that is fair. WHY should a person making 250K pay 10 times as much? How is that equal treatment under the law? It's bullshit and regardless of how you feel about the wealthy, goes against every principle this nation was founded on.

Every person should be able to deduct a standardized amount equal to base standard of living, then pay the same percentage on any and all income in excess of that base. (maybe make a single additional deduction for retirement investments up to $X per year) If we were to adopt such a system, even setting the rate at the current lowest rate, net revenues would go up because a ton of money currently hidden behind the myriad of loopholes would be subject to the same 12% rate. Plus, the government would save massive amounts of the money they currently spend trying to track and enforce a ridiculously complex tax code.

But the libs cannot STAND the thought of treating the wealthy equally. They are so full of their economic penis envy they cannot see straight.
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Oh, I would love the wealthy to be treated equally, let's just do a flat tax for all! No deductions, nothing, you just pay 15% of what you make, why don't the rich like that one?
 
cawacko said:
the top 1% of earners pay 40% of the federal taxes in the country. What percent do you believe they should pay?
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The top 1% have orders of magnitude more money than 99% of the rest so let them suck it up and pay. They have experts to find them write-offs for every gain they make and they're still crying... all the way to the bank.
 
christiefan915 said:
The top 1% have orders of magnitude more money than 99% of the rest so let them suck it up and pay. They have experts to find them write-offs for every gain they make and they're still crying... all the way to the bank.
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“In large part this is due to the large increase in the concentration of income, rather than a more progressive tax system,” said Joel Slemrod, the director of the Office of Tax Policy Research at the University of Michigan Business School.

they always fudge the truth!
 
Rana said:
“In large part this is due to the large increase in the concentration of income, rather than a more progressive tax system,” said Joel Slemrod, the director of the Office of Tax Policy Research at the University of Michigan Business School.

they always fudge the truth!
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Yeah, let's looks at this realistically, who suffers more,the person who makes $25,000 and pays 10% taxes or a person who makes $1,000,000,000 and pays 39% taxes? Which one is affected more? which one do you believe pays more? and if you are not any happier after the first $75,000, why do you need the extra (warning sarcasm alert)
 
Rana said:
Yeah, let's looks at this realistically, who suffers more,the person who makes $25,000 and pays 10% taxes or a person who makes $1,000,000,000 and pays 39% taxes? Which one is affected more? which one do you believe pays more? and if you are not any happier after the first $75,000, why do you need the extra (warning sarcasm alert)
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I hate when I can't sleep!
 
Rana said:
“In large part this is due to the large increase in the concentration of income, rather than a more progressive tax system,” said Joel Slemrod, the director of the Office of Tax Policy Research at the University of Michigan Business School.

they always fudge the truth!
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Just because they're in the higher bracket doesn't mean they actually pay the rate. I'd like to know how the IRS categorizes millionaire returns as "nontaxable",

"What you owe depends on a lot more than just how much income you make. Among about 650,000 American tax filers with $500,000 to $1 million in income, 1,646 were categorized by the IRS as "nontaxable" returns in 2007, for example, meaning they paid no income tax. Chalk it up to the way Congress wrote the rules, and the way accountants learn to navigate those rules."

http://www.csmonitor.com/Business/2010/0412/Tax-day-101-Who-pays-no-income-taxes-on-April-15
 
Rana said:
Oh, I would love the wealthy to be treated equally, let's just do a flat tax for all! No deductions, nothing, you just pay 15% of what you make, why don't the rich like that one?
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That would hurt the lower income too much.

for those who have not seen this yet....

It is time for this country to become fiscally responsible. The national debt has increased every fiscal year since 1960. What has happened to the responsibility of the two parties? Both like to point the blame at the other, but in reality neither have been responsible fiscally. It is time for a change. Let’s begin with our tax code. It should be simple enough that the average person can understand it. It should not be filled with thousands of loopholes and deductions. Let us push for the flat tax with a standard deduction and nothing more.

Start with a standard deduction of $30k (adjusted for inflation annually) for each adult and then tax every dollar over that $30k at 20%. This is simple, easy to understand, fair and progressive. It protects the low-income individuals and couples from paying federal income taxes. It provides the middle-income families a lower effective tax rate than the wealthy. This plan would encompass ALL income, including earned income, capital gains and dividend income.

A person making $30k pays an effective rate of 0%.

A person making $50k pays an effective rate of 8%.

A person making $100k pays an effective rate of 14%.

A person making $200k pays en effective rate of 17%.

A person making $1mm pays an effective rate of 19.4%

Everyone has the same deduction and takes it. Which causes the effective tax rate to increase the more you make.

To reduce the national debt I would propose we add an additional temporary bracket to the flat tax. Every dollar over $1 million (again adjusted for inflation annually) would be taxed at 30% rather than 20%. The additional 10% would be mandated to pay down the debt.
It is our responsibility to pay our own way and not dump trillions of dollars of debt on future generations. We need to begin electing leaders that are fiscally responsible. The future of our nation depends upon it. We are our own worst enemy. It will be our ever-increasing debt that leads to our demise. We must act now.
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For those that have seen it and are tired of me posting it... bite me... I will keep posting it until everyone sends it to their Senators and Rep. :)
 
Rana said:
Oh, I would love the wealthy to be treated equally, let's just do a flat tax for all! No deductions, nothing, you just pay 15% of what you make, why don't the rich like that one?
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I am 100% in favor of a flat tax, except I see the need for 2 deductions. The ffirst, a standard deduction. The first 25K (50K for married couple) pays no taxes. Additionally, make up to 5K annual contribution to a retirement fund deductible. Then 12% on all - and I do mean ALL - income above the standard deduction. (Maybe make an exception for one-time life insurance benefits up to 500K or something similar).

End result: a truly FAIR tax system that is far easier, thereby far less expensive, to administrate.

I can NOT support the democratic taxation policies. Highly progressive systems are patently unfair, no matter how you argue that the rich should pay more because they can afford to. That excuse is pure bullshit. However, progressive rates aside, as many point out, the progressive rates are a fucking democratic party LIE - because for every percent they tack onto the rates paid by the wealthy, they find ways to allow deductions, exceptions, or shelters for two percent, all the while denouncing the republicans for favoring the wealthy with their tax breaks. (another democratic party lie.)
 
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