Increasing taxes

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wiseones2cents

Verified User
Ok. We have been hearing alot of talk of increasing taxes. Now believe it or not, but I was one of the first people to suggest the wealthy pay more taxes and they should. It is their moral and patriotic duty to do so.

We all know about the anti-tax man.

http://news.yahoo.com/anti-tax-man-norquist-defiant-fiscal-cliff-edge-003638477--business.html

We know that some people are breaking rank.


http://news.yahoo.com/chambliss-latest-republican-break-anti-tax-lobbyist-195247900.html


And we know that Republicans want to help struggling small businesses which is fine.

http://blogs.marketwatch.com/electi...empt-small-business-owners-from-tax-increase/


Now lets look at the situation. America is in a recession, more or less. How does increasing taxes on the middle class help? It wont. it will make things worse.

Who are the ones that can afford a tax increase? The wealthy. Dont feel sorry for them because they haven't been paying their fair share for decades if not centuries.

Now picture this. The bottom 50% pay no income taxes. THOUGH neither do the top 5%!!!And the top 15% doesn't pay their fair share after exploiting so many loopholes and tax excemptions.

The bulk of the taxable income is coming from those that are after the bottom 50% and before the top 10-15%. Which is the 50-85% group. These pay the majority of income taxes. Especially small businesses with honest bookeepers......It is estimated that the top 5% are hoarding almost 1/2 the total income taxes collected in offshore accounts. These offshore accounts need to be shut down.


Anyways, another problem America has is it is losing jobs to Asia, and these employees payed income taxes. Rather then increasing taxes on the middle class? Increase taxes on the wealthy and create more jobs, thus increasing tax revenue without actually raising taxes. The free market system has proven to be a collosal failure. At least for the west, but not for stock holders. They sold us out for higher profits.
 
Chambliss latest Republican to break with anti-tax lobbyist

http://news.yahoo.com/chambliss-latest-republican-break-anti-tax-lobbyist-014652789.html

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wiseones2cents said:
Ok. We have been hearing alot of talk of increasing taxes. Now believe it or not, but I was one of the first people to suggest the wealthy pay more taxes and they should. It is their moral and patriotic duty to do so.

We all know about the anti-tax man.

http://news.yahoo.com/anti-tax-man-norquist-defiant-fiscal-cliff-edge-003638477--business.html

We know that some people are breaking rank.


http://news.yahoo.com/chambliss-latest-republican-break-anti-tax-lobbyist-195247900.html


And we know that Republicans want to help struggling small businesses which is fine.

http://blogs.marketwatch.com/electi...empt-small-business-owners-from-tax-increase/


Now lets look at the situation. America is in a recession, more or less. How does increasing taxes on the middle class help? It wont. it will make things worse.

Who are the ones that can afford a tax increase? The wealthy. Dont feel sorry for them because they haven't been paying their fair share for decades if not centuries.

Now picture this. The bottom 50% pay no income taxes. THOUGH neither do the top 5%!!!And the top 15% doesn't pay their fair share after exploiting so many loopholes and tax excemptions.

The bulk of the taxable income is coming from those that are after the bottom 50% and before the top 10-15%. Which is the 50-85% group. These pay the majority of income taxes. Especially small businesses with honest bookeepers......It is estimated that the top 5% are hoarding almost 1/2 the total income taxes collected in offshore accounts. These offshore accounts need to be shut down.


Anyways, another problem America has is it is losing jobs to Asia, and these employees payed income taxes. Rather then increasing taxes on the middle class? Increase taxes on the wealthy and create more jobs, thus increasing tax revenue without actually raising taxes. The free market system has proven to be a collosal failure. At least for the west, but not for stock holders. They sold us out for higher profits.
Click to expand...

Let everyone's taxes go up. Fuck it.
 
I'd be interested to know wtf you get your information....is it Maddow or Maher ?
The post is do full of shit, I don't know where to start.....

Heres some FACTS for you....

2009----Taxpayers in the top 20% paid 67.9% or the total Fed. income tax liabilities
2009----Taxpayers in the top 15% paid 51.8% of the total Fed. ind. income tax liabilities
2009----Taxpayers in the top 10% paid 39.6% of the total Fed. ind. income tax liabilities
2009----Taxpayers in the top 5 % paid 17.3% of the total Fed. ind. income tax liabilities
2009----Taxpayers in the top 1% paid 22.3% of the total Fed. ind. income tax liabilities

2009....The rest of the taxpayers, the remaining 80%, paid a lousy 31.8% of the taxes.....

http://cbo.gov/publication/43373
Supplemental Tables, Item 2 xls
 
bravo said:
I'd be interested to know wtf you get your information....is it Maddow or Maher ?
The post is do full of shit, I don't know where to start.....

Heres some FACTS for you....

2009----Taxpayers in the top 20% paid 67.9% or the total Fed. income tax liabilities
2009----Taxpayers in the top 15% paid 51.8% of the total Fed. ind. income tax liabilities
2009----Taxpayers in the top 10% paid 39.6% of the total Fed. ind. income tax liabilities
2009----Taxpayers in the top 5 % paid 17.3% of the total Fed. ind. income tax liabilities
2009----Taxpayers in the top 1% paid 22.3% of the total Fed. ind. income tax liabilities

2009....The rest of the taxpayers, the remaining 80%, paid a lousy 31.8% of the taxes.....

http://cbo.gov/publication/43373
Supplemental Tables, Item 2 xls
Click to expand...

I've seen hundreds of different figures which can only mean one thing. The numbers are being cooked. I dont beleive for one minute that the rich pay the most taxes. Traditionally, elites have been exempt of paying taxes. I remember that rich woman in NYC that stated that paying taxes was for poor people. Well since she let the cat out of the bag, they had to make an example of her and audit her. If I am not mistaken, she did time in jail.

What I do know about businesses is the more expenses you have the more you can write off. Therefore the rich write off a shit load of stuff, from private jets, to fancy vacations, to pretty much anything that they can claim as work related. I cant recall what some American was telling me from California but he said you can write off everything and the kitchen sink. I even think he stated you can write off multiple homes. Then you take into consideration an article I read that states they have trillions of dollars stashed away in offshore bank accounts every year. Yup. I doubt they are paying their fair share.
 
bravo said:
I'd be interested to know wtf you get your information....is it Maddow or Maher ?
The post is do full of shit, I don't know where to start.....

Heres some FACTS for you....

2009----Taxpayers in the top 20% paid 67.9% or the total Fed. income tax liabilities
2009----Taxpayers in the top 15% paid 51.8% of the total Fed. ind. income tax liabilities
2009----Taxpayers in the top 10% paid 39.6% of the total Fed. ind. income tax liabilities
2009----Taxpayers in the top 5 % paid 17.3% of the total Fed. ind. income tax liabilities
2009----Taxpayers in the top 1% paid 22.3% of the total Fed. ind. income tax liabilities

2009....The rest of the taxpayers, the remaining 80%, paid a lousy 31.8% of the taxes.....

http://cbo.gov/publication/43373
Supplemental Tables, Item 2 xls
Click to expand...
Who cares? The relevant question is what % of income does each demographic pay. A person making $90k/year, will pay app $25-$30,000/year in taxes, leaving $60,000 to live on.

Now do the math for those who make tens of millions of dollars, and pay 13% in taxes.

Cap gains taxation must go up to 25% immediately.
 
Althea said:
Who cares? The relevant question is what % of income does each demographic pay. A person making $90k/year, will pay app $25-$30,000/year in taxes, leaving $60,000 to live on.

Now do the math for those who make tens of millions of dollars, and pay 13% in taxes.

Cap gains taxation must go up to 25% immediately.
Click to expand...

And it will!!!!
 
wiseones2cents said:
I've seen hundreds of different figures which can only mean one thing. The numbers are being cooked. I dont beleive for one minute that the rich pay the most taxes. Traditionally, elites have been exempt of paying taxes. I remember that rich woman in NYC that stated that paying taxes was for poor people. Well since she let the cat out of the bag, they had to make an example of her and audit her. If I am not mistaken, she did time in jail.

What I do know about businesses is the more expenses you have the more you can write off. Therefore the rich write off a shit load of stuff, from private jets, to fancy vacations, to pretty much anything that they can claim as work related. I cant recall what some American was telling me from California but he said you can write off everything and the kitchen sink. I even think he stated you can write off multiple homes. Then you take into consideration an article I read that states they have trillions of dollars stashed away in offshore bank accounts every year. Yup. I doubt they are paying their fair share.
Click to expand...


Its from the CBO that you pinheads love to quote ad nauseam when it suits your purpose....and the same type of data in dozens of other sites too...


Althea said:
Who cares? The relevant question is what % of income does each demographic pay. A person making $90k/year, will pay app $25-$30,000/year in taxes, leaving $60,000 to live on.

Now do the math for those who make tens of millions of dollars, and pay 13% in taxes.

Cap gains taxation must go up to 25% immediately.
Click to expand...

If you weren't so freakin' jealous and envious you wouldn't care what other people make.....it none of you business what your neighbors get paid.....rich or poor....

I don't care what % of their wealth is taken in taxes.....any money confiscated by government over and above others is wrong....
If you want them to pay 40%, then you should be willing to pay 40% too....fair is fair....

Why should you pay 13 % and someone else pay 25 % or 36% or 40%......Why should anyone subsidize you....?
 
bravo said:
If you weren't so freakin' jealous and envious you wouldn't care what other people make.....it none of you business what your neighbors get paid.....rich or poor....

I don't care what % of their wealth is taken in taxes.....any money confiscated by government over and above others is wrong....
If you want them to pay 40%, then you should be willing to pay 40% too....fair is fair....

Why should you pay 13 % and someone else pay 25 % or 36% or 40%......Why should anyone subsidize you....?
Click to expand...
+1
 
bravo said:
Its from the CBO that you pinheads love to quote ad nauseam when it suits your purpose....and the same type of data in dozens of other sites too....
Click to expand...

I remember an article from Exxon mobile, how they said they were paying their fair share. Basically it was in the billions. After analyzing the data, it seems that the majority of taxes they "supposedly paid" included employee taxed income. In other words the WORKERS paid the majority of income tax that Exxon CLAIMED they payed.

Numbers and Data can be spun to say many things, but the bottom line is the rich HAVE NOT paid their fair share!

http://finance.yahoo.com/news/5-tax-deductions-help-rich-080036333.html

5 Tax Deductions That Help the Rich Get Richer

By Jay MacDonald | Bankrate.com – 15 hours ago

When it comes to tax deductions, it is good to be rich -- the richer, the better.


How Apple Sidesteps Billions in Global Taxes

RENO, Nev. — Apple, the world’s most profitable technology company, doesn’t design iPhones here. It doesn’t run AppleCare customer service from this city. And it doesn’t manufacture MacBooks or iPads anywhere nearby.


Ex-banker says he's giving Wikileaks files on rich
By RAPHAEL G. SATTER, Associated Press Raphael G. Satter, Associated Press 1 hr 37 mins ago
LONDON – A former Swiss banker on Monday supplied documents to WikiLeaks that he alleges detail attempts by wealthy business leaders and lawmakers to evade tax payments.


http://news.yahoo.com/s/ac/20110316...DeW5fdG9wX3N0b3JpZXMEc2xrA2luY29tZXRheGNoYQ--

Income tax chart shows assault on middle class

William Browning Wed Mar 16, 7:43 pm ET

COMMENTARY | Solving our national debt problem might be more of an income dilemma and less about a debt problem. A recent chart compiled from IRS and Tax Foundation data suggests the rich have been paying fewer taxes as compared to the middle class for over 20 years.


P.S.I've known for quite some time that the rich HAVEN'T been paying their fair share of taxes. That is the Bottom Line!!!!!

I have tons more articles to back my position? Shall we continue?
 
wiseones2cents said:
I remember an article from Exxon mobile, how they said they were paying their fair share. Basically it was in the billions. After analyzing the data, it seems that the majority of taxes they "supposedly paid" included employee taxed income. In other words the WORKERS paid the majority of income tax that Exxon CLAIMED they payed.

Numbers and Data can be spun to say many things, but the bottom line is the rich HAVE NOT paid their fair share!

http://finance.yahoo.com/news/5-tax-deductions-help-rich-080036333.html

5 Tax Deductions That Help the Rich Get Richer

By Jay MacDonald | Bankrate.com – 15 hours ago

When it comes to tax deductions, it is good to be rich -- the richer, the better.


How Apple Sidesteps Billions in Global Taxes

RENO, Nev. — Apple, the world’s most profitable technology company, doesn’t design iPhones here. It doesn’t run AppleCare customer service from this city. And it doesn’t manufacture MacBooks or iPads anywhere nearby.


Ex-banker says he's giving Wikileaks files on rich
By RAPHAEL G. SATTER, Associated Press Raphael G. Satter, Associated Press 1 hr 37 mins ago
LONDON – A former Swiss banker on Monday supplied documents to WikiLeaks that he alleges detail attempts by wealthy business leaders and lawmakers to evade tax payments.


http://news.yahoo.com/s/ac/20110316...DeW5fdG9wX3N0b3JpZXMEc2xrA2luY29tZXRheGNoYQ--

Income tax chart shows assault on middle class

William Browning Wed Mar 16, 7:43 pm ET

COMMENTARY | Solving our national debt problem might be more of an income dilemma and less about a debt problem. A recent chart compiled from IRS and Tax Foundation data suggests the rich have been paying fewer taxes as compared to the middle class for over 20 years.


P.S.I've known for quite some time that the rich HAVEN'T been paying their fair share of taxes. That is the Bottom Line!!!!!

I have tons more articles to back my position? Shall we continue?
Click to expand...



Your articles are bullshit, partisan, left-wing nonsense....all anyone needs to do is research the IRS, CBO or other US. Government figures......
Even the Obama administration can't use the IRS or CBO to cook the books in their favor....facts are facts and no amount of left-wing propaganda will change the numbers.....

There will always be some businesses and individuals that are exceptions to rule in any year to cherry-pick from, but given to entire picture,

the rich are paying the greater bulk of taxes collected by the federal government....

See for yourself, access the government websites, not partisan sites, the data is there for all to see....
 
bravo said:
Your articles are bullshit, partisan, left-wing nonsense....all anyone needs to do is research the IRS, CBO or other US. Government figures......
Even the Obama administration can't use the IRS or CBO to cook the books in their favor....facts are facts and no amount of left-wing propaganda will change the numbers.....

There will always be some businesses and individuals that are exceptions to rule in any year to cherry-pick from, but given to entire picture,

the rich are paying the greater bulk of taxes collected by the federal government....

See for yourself, access the government websites, not partisan sites, the data is there for all to see....
Click to expand...

Your a collosal idiot. Everyone, even the IRS knows that the rich are tax cheats!!!!

http://www.dailyfinance.com/2012/09/11/irs-pays-whistleblower-104-million/

How about this one? Maybe you can tell us where all that money is going!!!

http://www.nytimes.com/2011/11/26/business/global/26iht-tax26.html?_r=0

The United States lost the most tax revenue in absolute terms — $337 billion

The figures do not include income from criminal behavior like smuggling or the illegal drug trade

WOW you are taking a beating in these debates.lol

I have studied all the data for over a decade and I call B.S. The rich have been paying less and less taxes every year. It is time for them to start paying their fair share!

http://news.yahoo.com/s/ac/20110316/...9tZXRheGNoYQ--

Income tax chart shows assault on middle class

William Browning Wed Mar 16, 7:43 pm ET

COMMENTARY | Solving our national debt problem might be more of an income dilemma and less about a debt problem. A recent chart compiled from IRS and Tax Foundation data suggests the rich have been paying fewer taxes as compared to the middle class for over 20 years.

Again. Bottom line is that the rich have NOT payed their fair share, regardless of the bullshit by economists that also benefit from these fudged numbers.
 
wiseones2cents said:
Your a collosal idiot. Everyone, even the IRS knows that the rich are tax cheats!!!!

http://www.dailyfinance.com/2012/09/11/irs-pays-whistleblower-104-million/

How about this one? Maybe you can tell us where all that money is going!!!

http://www.nytimes.com/2011/11/26/business/global/26iht-tax26.html?_r=0

The United States lost the most tax revenue in absolute terms — $337 billion

The figures do not include income from criminal behavior like smuggling or the illegal drug trade

WOW you are taking a beating in these debates.lol

I have studied all the data for over a decade and I call B.S. The rich have been paying less and less taxes every year. It is time for them to start paying their fair share!

http://news.yahoo.com/s/ac/20110316/...9tZXRheGNoYQ--

Income tax chart shows assault on middle class

William Browning Wed Mar 16, 7:43 pm ET

COMMENTARY | Solving our national debt problem might be more of an income dilemma and less about a debt problem. A recent chart compiled from IRS and Tax Foundation data suggests the rich have been paying fewer taxes as compared to the middle class for over 20 years.

Again. Bottom line is that the rich have NOT payed their fair share, regardless of the bullshit by economists that also benefit from these fudged numbers.
Click to expand...


Well, you're in a different debate sonny....
I never said people didn't cheat on taxes, even guys like you.....as a matter of FACT, I distinctly said that there are always exceptions to the rule....
Are you really stupid enough to think raising tax rates will stop cheating?....Tax evasion is a totally different subject.

Of course there is a shadow economy....it started in 1776 or before.....millions of people just like you, think its perfectly ok to get paid under the table, in cash, waiters and waitresses just pocketing tip money, bartering, flea markets, garage sales, uncollected sales tax, etc....their are hundreds of ways to avoid taxes.....overseas tax havens are but one....and available to you as well as the richest....

None of that changes the numbers....the richest in the US pay the bulk of tax revenue collected.....its IRS data....its CBO data.....its public knowledge to anyone that
takes the time to look it up....
The only one taking a beating on this is you.....along with being neo-nazi Jew hater, you're a liar and desperate to find anything to spin your bullshit on this issue.......

I posted the figures from the CBO.....its an undeniable fact the richest in the US pay the bulk of tax revenue collected, 20% paying almost 70% of the taxes......and those numbers have nothing to do with the tax evaders or any shadow economy......the facts are what they are, ....right now...today...this minute....
 
bravo said:
If you weren't so freakin' jealous and envious you wouldn't care what other people make.....it none of you business what your neighbors get paid.....rich or poor....

I don't care what % of their wealth is taken in taxes.....any money confiscated by government over and above others is wrong....
If you want them to pay 40%, then you should be willing to pay 40% too....fair is fair....

Why should you pay 13 % and someone else pay 25 % or 36% or 40%......Why should anyone subsidize you....?
Click to expand...
And if you weren't so ignorant, you'd be able to follow along.

Because cap gains taxation is so low, the overwhelming majority of uber wealthy use loopholes to have salary declared as cap gains. Further, it leads to predatory investment practices, as well as skewed hiring/firing practices.


I have no reason to be envious of anyone.
 
Althea said:
And if you weren't so ignorant, you'd be able to follow along.

Because cap gains taxation is so low, the overwhelming majority of uber wealthy use loopholes to have salary declared as cap gains. Further, it leads to predatory investment practices, as well as skewed hiring/firing practices.


I have no reason to be envious of anyone.
Click to expand...

You can not 'declare' your salary as capital gains.....you either have one or the other or both.....capital gains has a legal definition...
 
bravo said:
You can not 'declare' your salary as capital gains.....you either have one or the other or both.....capital gains has a legal definition...
Click to expand...
Bullshit. Hedge fund managers do it every year.

CEOs take salary via stock shares, which is taxable as cap gains.
 
I Love America said:
Do you know why CEO pay moved to stock options? My guess is you don't.
Click to expand...
There may have been a time when it was supposed to represent performance, which would be reflected in increased share price.

However, it is more about tax avoidance, as we see incompetent CEOs getting tens of millions of dollars/bonuses, despite piss poor performance.

Do you know why it's a bad trend? My guess is you don't.
 
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