[jimbomaybe]

Originally Posted by Proveone

Wrong! Fair tax refers to billionaires, who some pay little to no taxes, to some corporations who pay 8 %, when someone who earns $11,000 a year pays 10%. $44,000 to $95,000 pay 22%. Fair tax means billionaires and corporations should pay what the rest of us pay proportionately. The national debt should be paid buy the billionaires, who received tax breaks, and the people who passed the tax breaks. Stop parroting what you hear on unreliable sources.

The reason for tax deduction is that the deductions represent money spend that benefits the economy, businesses and corporations make huge outlays of money to run and expand their businesses, business create wealth by creating something of value you are willing to pay for, if you save , invest take advantage of the 401s IRAs you are contributing to the economy as well as yourself , people like Bill Gates, Steve Jobs, Jeff Bezos have amassed huge fortunes but have by their efforts made everyone much wealthier

[LonnyP]

I think it has to do with the billionaires paying less taxes than a teacher making 60k a year, or perhaps those that only have to pay into SS up to earnings on 160k, even if they earn 450k.

[Two Bills]

Originally Posted by Dusty_Star

As did Mick Jagger & the Rolling Sones, they went into tax exile in the 1970s because the UK tax was so high on their earnings. I think it has improved since then, but it was high.

Probably overall the same.

In 1974 tax was 98% on incomes over £20,000 (about $220,000 at today's value.)
That's when those who could, left the country.
They kindly left the lights on for us peasants!

Tax allowance 0%..........£12570............................... (approx $15,100)
Then.
Basic rate 20%........£37,700..............................( approx. $45250)
Higher rate 40%........£37,701 to £125,140........ (approx. $150,168)
Additional rate 45%........Over £125,141

There is also National Insurance at 9% on earnings for health care and pensions.
Add 20% Value Added Tax on most services and goods, and you can use any left to pay for your local Council Taxes, mortgage etc.
Food is optional.

Because my wife and I worked hard and saved for our retirement, we still have the privilege of paying tax on our pensions and savings!
But.
We get FREE Health Care!!

[crash]

Originally Posted by MrLonzo

With regard to taxes, I keep hearing the term 'fair share', but I don't know what that means. How much is a 'fair share' in dollars?

A fair share is not a dollar number. If you make $400,000 and pay $40,000 in taxes is it fair that a person making $40,000 pays $10,000. That’s 10% vs $25%. Make it so everyone over a minimum level pays the same percentage. In the above example that would be $60,000 vs $6,000 in the above example at 15% tax.

[paqdkq]

You have got to be kidding me

[Bill14564]

Originally Posted by paqdkq

You have got to be kidding me

With 64 posts and 47 posters, it would be useful to provide a clue as to whom you are replying.

[Cliff Fr]

Originally Posted by golfing eagles

Fair is everybody paying the same rate. Right now the top 10% of earners pay 90% of income taxes. Please tell me how that is "fair".

Your comparing percentage to dollars. Apples to oranges. Someone earning $200,000 a year has a heck of a lot more money left over after paying for necessities than someone making $30,000 a year.

[LianneMigiano]

I was under the impression that the distinction regarding "fairness" referred to how much the businesses were being charged vs. what a typical homeowner was assessed. I thought that the previous attempt to assess businesses a more equitable fire fee was meant to address that inequity - but it didn't win out for some strange reason.

[SHIBUMI]

this is a stupid term.......there is nothing fair in a capitalist system....its ability to pay as we have a progressive tax....BUT, wealthier citizens do not pay more because they are given more deductions from income...

progressive tax is good but better without deductions
the key to taxes is deductions............we need to lower the max tax to 33%band create a simple tax form for the wealthy

We will call it the 1040EZM....ez form for millionaire income
you write your name and social security number and your income, then you pay 33% on that money. Pretty straight forward and progressive. The govt has no business creating deductions
that make it unfair. There is no fair share as the end result of capitalism is income bias. And as such there should be tax bias or more on the wealthy. Capitalism is not the problem, its great,
politicians cater to their donors and thats not fair. Its bribery.

Originally Posted by MrLonzo

With regard to taxes, I keep hearing the term 'fair share', but I don't know what that means. How much is a 'fair share' in dollars?

[HORNET]

There is a rumor out of DC that illegals can apply for a $50 thousand bebit / gift card for free if they qualify to help settle in this country, with government funding

[Bill14564]

Originally Posted by HORNET

There is a rumor ...

You should have stopped right there.

The "facts" that people hear are frequently untrue, the rumors they hear are even less reliable.

[Cliff Fr]

Originally Posted by HORNET

There is a rumor out of DC that illegals can apply for a $50 thousand bebit / gift card for free if they qualify to help settle in this country, with government funding

It is true that NYC is giving out $53 million dollars to illegals there in the form of reloadable debit cards. I'm not sure how many they are giving out.

[manaboutown]

“Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury. There is not even a patriotic duty to increase one's taxes. Over and over again the Courts have said that there is nothing sinister in so arranging affairs as to keep taxes as low as possible. Everyone does it, rich and poor alike and all do right, for nobody owes any public duty to pay more than the law demands.”

― Learned Hand

[Shipping up to Boston]

Originally Posted by Bill14564

You should have stopped right there.

The "facts" that people hear are frequently untrue, the rumors they hear are even less reliable.

Rumors....great song from Timex Social Club

[Caymus]

Originally Posted by HORNET

There is a rumor out of DC that illegals can apply for a $50 thousand bebit / gift card for free if they qualify to help settle in this country, with government funding

So far, the only debit cards are given in NYC.