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+--- Thread: IRS: Nearly 1,500 millionaires paid no federal income tax in 2009 (/showthread.php?tid=121612)
Re: IRS: Nearly 1,500 millionaires paid no federal income tax in 2009 - rjmacs - 08-08-2011
hal wrote:
the flat tax that I could get behind: anyone earning over $1M (or why not $863,000/yr) shouldl be paying, say..., 3% of the GROSS (not just taxable income) before they even call the accountant. So those guys that manage to NOT pay taxes would AT LEAST be paying a solid 3%...
Except if it's truly a 'flat tax,' then EVERYONE pays 3%, and that is ALL that ANYONE pays in income tax, period. And the bottom line is: for the purposes of reasonable living standards, $750 is a lot LESS affordable to someone making $25,000/year than $24,000 is to someone making $800,000 a year.
Re: IRS: Nearly 1,500 millionaires paid no federal income tax in 2009 - Dennis S - 08-08-2011
Guarantee: If the government ever passes a flat tax, YOU will be paying more than you are now.
Re: IRS: Nearly 1,500 millionaires paid no federal income tax in 2009 - Mac1337 - 08-09-2011
rjmacs wrote:
Except if it's truly a 'flat tax,' then EVERYONE pays 3%, and that is ALL that ANYONE pays in income tax, period. And the bottom line is: for the purposes of reasonable living standards, $750 is a lot LESS affordable to someone making $25,000/year than $24,000 is to someone making $800,000 a year.
This logic is motivated by the notion that taxes must hurt equally. Solely collecting enough revenues is not enough. Tax'em until they cry. Then you know you have hit the right rate. You are subscribing to the from-each-according-to his ability philosophy
Re: IRS: Nearly 1,500 millionaires paid no federal income tax in 2009 - cbelt3 - 08-09-2011
Well, what I learned in the cafeteria in Elementary school is that the definition of 'fair' is everyone gets treated the same. The fat kid gets the same size piece of cake as the skinny kid. And then when they explained percentages to me, I figured it was the same thing.
How litle did I realize that a Progressive Tax would have given the fat kid a piece of crust with no icing, and me, the incredibly skinny kid, a big piece of cake with the icing flower on it. Silly me !
Re: IRS: Nearly 1,500 millionaires paid no federal income tax in 2009 - Mac1337 - 08-09-2011
I am beginning to like you, cblet3!
Re: IRS: Nearly 1,500 millionaires paid no federal income tax in 2009 - john dough - 08-09-2011
But the reality is, not only do the wealthy pay less income tax (they have ways to "hide" income) but the poor pay more of their income as tax. Sucks that the fat kid has most of the cake and most of us are left with not much more than crumbs.
Nice to be folksy and aw-shuck about this, but we are not talking about fat kids that don't get icing, we are talking about millionaires evading tax while hard working people are paying more tax (compared to how much they bring in), and they do not have a choice whether to pay it or not. If I did not know better, it would sound like you are sliding in a talking point (but you would not do THAT, would you?)
While I do not believe in a progressive tax, I DO believe that many loopholes that the wealthy enjoy should be abolished and that the wealthy are enjoying the benefits of making their money in America without paying for their fair share.
Re: IRS: Nearly 1,500 millionaires paid no federal income tax in 2009 - Dennis S - 08-09-2011
Dakota has been told on here that the less taxes the rich pay, the more he pays, and he seems to like it that way. Pretty stupid or pretty weird.
Re: IRS: Nearly 1,500 millionaires paid no federal income tax in 2009 - haikuman - 08-09-2011
If those Millionaires had to pay/contribute to SS after the first $106K/$108K, SS and Medicare might be solvent me thinks ... ? I think there is a cutoff number for earnings and having to pay/contribute to SS .. ?
Rudie
Re: IRS: Nearly 1,500 millionaires paid no federal income tax in 2009 - Mac1337 - 08-09-2011
Dennis S wrote:
Dakota has been told on here that the less taxes the rich pay, the more he pays, and he seems to like it that way. Pretty stupid or pretty weird.
When rates have come down, they have come down for everybody. When they raised the upper brackets, they didn't touch mine. So either way you are wrong.
Re: IRS: Nearly 1,500 millionaires paid no federal income tax in 2009 - cbelt3 - 08-09-2011
john dough wrote:
While I do not believe in a progressive tax, I DO believe that many loopholes that the wealthy enjoy should be abolished and that the wealthy are enjoying the benefits of making their money in America without paying for their fair share.
Exactly. Flat tax. No exceptions. Have a nice day. Here's your tax return, now pay a flat percent of what you earned. On EVERYTHING. Exemption ? Nah. Deduction ? Nah.
You made $10,000 last year ? Give us $1,000.
You made $100M last year ? Give us $10M.
You've got 32 children ? That's nice. Give us 10% of your earnings.
You've got a mortgage ? That's nice. Give us 10% of your earnings.
You got stock dividens ? That's nice. Give us 10%.
You sold stock and made a profit ? That's nice. Give us 10%
You're a corporation ? That's nice. Give us 10% of your earnings. That's the "Profit" stuff. yeah. that stuff. No, boobs for your secretary are not a Business Expense. Oh. she's a Porn star ? OK, the cost is income to her. Give us 10%. Nipples first, please.
You collection a pension, social security, welfare, workfare, penguinfare. That's nice. Give us 10%
You're a highly paid and compensated tax lawyer ? Sorry. Go get a real job. Here's a shovel, you're obviously familiar with what comes out of the back end of a horse.
I think if most Americans would Do. The. Math. they would find out that it will mean they will pay less overall, and have less to worry about.
Imagine ! Doing your taxes in all of 10 minutes ?