Again, we're talking about federal taxes.

I personally know a family that's a perfect example.

He was unemployed for most of last year, on unemployment, food stamps and Medicaid for their three kids.

Just got a three grand refund on their 2011 taxes. Not only did they pay ZERO in federal taxes, they actually got a free check back along with free food and free healthcare for the year... and probably this year as well. Although he's working now they still get to keep the free food and healthcare.

For all the libs, here is a simple concept when talking about confiscating more of what other people have.

IT'S NOT YOUR MONEY!!!!

The government NEVER does with less, only we do. The government doesn't need more money, they need to spend LESS!

Stop the thievery.

DK why is this a liberal problem? I guess you think conservatives do not want taxes levied. Maybe your right. Lets just tax the poor,they dont pay enough anyhow. Oh yea and the middle class or what is left of us,tax us too. But the rich and big business no,no,no. They pay enough according to you. Thats where you and I disagree. I do not think they pay enough.

Some people don't pay anything and continue to just take take take. Everyone else pays too much. How about getting rid of the IRS and everyone pays a flat tax with no deductions or loopholes?

It totally is a liberal thing. Take more from those who have and redistribute to those who have not. Great way to get votes a?

You don't think the rich pay their far share? Well that's just sour grapes in my book. How about you keep what you earn and I keep what I earn?

So if you look at the basic premis of all this, tell me friend, how much of what I earn belongs to you and why?

Maybe old Herman had the right idea 9 9 9 to everyone . Just think of the money that would be saved without the IRS . How many people do they employ.

Ever heard the left in government support a flat tax?

Let me break it down in simple terms for those on the left.

I'd really like to hear an answer.

So let's take out the middle man which of course is the government.

A guy is a muli-millionaire, plenty of money, big house and beautiful cars.

Another guy a few miles across town is dirt poor and barly making it. His car is a wreck and may even loose his house.

How much of what the millionaire earns belongs to the guy across town and why?

I'd really like an answer from you lefties. How much and why?

Originally Posted by djplong

dklassen - Yeah, all those freeloaders paying sales taxes, excise taxes, phone taxes, meals taxes, social security taxes, medicare taxes.

It's easy to make 'the poor' look like freeloaders when you concentrate on the taxes they don't pay - like scolding someone who walks for not paying the gas tax.

Yes, 'the rich' are paying most of the income taxes - BUT they are paying a smaller percentage of their income in those taxes than they have in decades.

Please explain how the Buffet rule, which the President is traveling the country touting, will help anyone.

Please explain why not looking at Ryans budget (on which I have a TON of questions and negative thoughts) to see if there is anything there to cut, WHICH BY THE WAY, BOTH parties feel has to be done !

Originally Posted by waynet

I'm a retired 65 year old that pays taxes....federal,state,sales and others.My federal tax rate is 28% and each year I pay at that rate. I have no real deductions so I use the short format 28%. If this President or any president wants millionaires to pay at 30% I am all for it. I do not care how they earn their money leg al or illegal. I want them to pay their fair share. Is this too much to ask? I don't care if itmeans nothing to the federal deficit,all I want is that they pay their fair share. And while we are at it how about all those job creating companies paying something,anything,a little some taxes.

THIS, based on what you posted, should really make you "happy"...

"President Obama chose not to subject himself to his own proposed Buffett Rule, paying only a 20.5 percent federal tax rate instead of the 30 percent rate called for under the proposal he has been talking about all week.

The Buffett rule would apply to those making $1 million, and Obama did not quite make $1 million last year – he clocked in at $789,674. But he made enough to be considered comparably rich to those making a million, and still paid a rate ten points below the threshold he is proposing.

What’s more, he paid a lower rate than Vice President Biden, who made less than half what Obama did. Biden paid a 23.2 percent rate on $379,035 in income.

Some of the difference is due to deductions for charitable contributions – the Obamas contributed substantially more last year than the Bidens."

Obama Fails to Apply the Buffett Rule to Himself | The Blog on Obama: White House Dossier

Buffit rule is NOT going to level the field. We need total tax reform, for sure, but to travel the country an make this a grand saviour is misleading and wrong.

People keep some on purpose, confusing marginal and total income tax rate. The 28% tax rate is only on the portion of income above a fixed amount. Some income is taxfree, then a portion at a higher rate, and so forth.

People don't pay the 28% on all their income just the portion at the high bracket. Their actual tax rate is much lower, because that compares the tax paid/AGI. It is double speak..

Also, a smokescreen is saying that the poor, even though they pay no income taxes pay other taxes. Apples and Oranges. Compare the same tax. We are in danger as a Nation when more than 50% pay no income tax and will therefore vote for tax increases on the minority..

Darryl,

How much of the millionaire's wealth belongs to the dirt-poor person with the bad car and the house in foreclosure? None, of course. No one says it does.

How much tax should the millionaire pay vs the dirt-poor person? Chances are the dirt-poor person pays no income tax. If the millionaire has invested his money correctly with the advice of a tax counselor, he probably pays a very low percentage in income tax.

How much does the middle-class person with a job that pays $75,000 pay in income tax? Probably around 25%.

The Buffet Rule is trying to have the tax code be more equitable for the millionaires and the middle-class.

Originally Posted by Bavarian

People keep some on purpose, confusing marginal and total income tax rate. The 28% tax rate is only on the portion of income above a fixed amount. Some income is taxfree, then a portion at a higher rate, and so forth.

People don't pay the 28% on all their income just the portion at the high bracket. Their actual tax rate is much lower, because that compares the tax paid/AGI. It is double speak..

Also, a smokescreen is saying that the poor, even though they pay no income taxes pay other taxes. Apples and Oranges. Compare the same tax. We are in danger as a Nation when more than 50% pay no income tax and will therefore vote for tax increases on the minority..

Love it when someone who knows about this stuff, especially the financial aspect, makes a post.

I believe it was in 2009 when the Committee on Joint Taxation said that 30% of households actually MADE MONEY on the tax system...MADE MONEY !!

This is because the US uses the tax code to actually distribute funds, with credits, etc.

I think, and THINK is the operative word, that we need wholesale tax reform and why we have not been addressing it for years is beyond me.

Please come back on your opinion on this.
-
And the Buffet rule does absolutey zero to attack the problem. It is a political ploy.....it does not even address any EARNED INCOME at all...CEO'S pay is not involved..sports stars, movie stars...not touched....ONLY the investors who mainly invest in the bonds that help cities, etc. It will not touch any financial problem we have and should it ever pass, AND the President KNOWS it will not yet he travels talking about, the market will suffer as those involved will simply move their funds. Economists on both sides of the aisle agree that this is a foolish attempt at politics.

A small gem from an article...

"Supporters of the rule have acknowledged that the projected revenue from the “Buffett Rule,” which the Democratic-led Senate is expected to vote down, is “not even a meaningful small amount.”

Obama Family Tax Shelter | Washington Free Beacon

I suppose those of you who are on here favoring it better get to your fellow Dems quickly before they officially vote it down

The Democratic Senate better read this poll before voting. Americans favor the Buffet Rule by a wide margin.


Americans Favor

I am so glad somebody brought up the polls on this issue...

"Obama’s prioritization is no mystery: The populist Buffett Rule polls well. This explains its inclusion in countless presidential speeches and statements. White House reporters, tiring of the theme, have proposed a Jimmy Buffett Rule (three-drink minimum) and a Buffet Rule (Newt Gingrich would be an obvious candidate). "

This man is absolutely bonkers over anything that might get votes...the country does not seem to matter...


"Three years into his presidency, Obama has not introduced a plan for comprehensive tax reform — arguably the most important vehicle for fixing the nation’s finances and boosting long-term economic growth. His opponents haven’t done much better, but that doesn’t excuse the president’s failures: appointing the Simpson-Bowles commission and then disregarding its findings, offering a plan for business tax reform only, and issuing a series of platitudes. The Buffett Rule, rather than overhauling the tax code, would simply add another layer."

Rebuffing Obama’s ‘Buffett Rule’ - The Washington Post

AND those in the senate who do not poll well, KNOW the real facts of the bill and what effect it will have !!!

Ignoring his OWN appointed commitee was serious,and again, this was one thing I "thought" I would like just like the health care debate but he turned his back on BOTH for politics only.

Darryl,
How much of the millionaire's wealth belongs to the dirt-poor person with the bad car and the house in foreclosure? None, of course. No one says it does.

You totally miss the point. No one says it does? Of course they do, including you.

It takes a massive amount of errorgance and dishonesty to deem what another person earns is too much or too little and then presume to redistribute it how they see fit in the name of fairness. IT'S NOT YOURS!

That's the problem with liberals, they think the government owns the money first and they are the arbitrators of fairness and all that is good. They are nothing but crooks, republicans and democrats.

I'll say it again, the government NEVER does with less, they want more and more and more and you happily support them... the crooks.