Originally Posted by Guest

Chances are that most of us are in the 22-28 percent tax brackets.

Mitt Romney in 2012 revealed he paid around the 15 percent range.

We have no idea of what percent Trump pays.

If WE have to pay in the 22-28 percent brackets, can anyone explain why some who make so many times more than US pay a lesser percent in income taxes?

Fair tax should mean the more you earn, the more you are taxed - up to maybe around 35-40 percent - and no money could be hidden in offshore accounts or phony corporations.

IT IS TRULY SIMPLE- We all think WE should get and others should pay. Our deduction is fair but a deduction we can't take is unfair.

First of all, if you are in the 28% bracket, YOU DO NOT PAY 28% OF YOUR INCOME IN TAX-that is only on your last dollars that you pay 28% AND ALL OF YOUR DEDUCTIONS COME OF AT THAT 28% RATE,

For most people, one of the largest taxes you paid was social security=that was 7%. Few know it buy your employer paid the same as you did-for you. I WAS SELF EMPLOYED AND PAID 13%. Perhaps, you had a 401K, a 403B etc. THAT WAS TAX FREE INCOME. As I said, I am living off TAXED savings, YOUR/MY IRA grows free of taxes.
RUDE SURPRISE-You/I will pay tax on the appreciated asset.
IT IS A GOVERNMENT SLIGHT OF HAND.

You believe some should pay as high as 40%. In my best years, I have paid MORE THAN THAT PLUS A 6% STATE TAX,PLUS 13% TO SOCIAL SECURITY. It truly cost me twenty cents to earn a dollar. when, have I paid enough?
53% to Fed, 6% to state, 13% to social security, 10,000 in real estate tax on a 1200 sq foot home. 53%+6%+13%=ON MY LAST DOLLARS I WAS ALLOWED TO KEEP TWENTY FIVE CENTS AND WHAT THEY ALLOWED ME TO KEEP PART OF THAT PAID MY REAL ESTATE TAX .

Re: Rhomney and 15%
You do not seem to understand that. 15% is the top tax rate on stock dividends. TO GET THAT YOU ACCEPT THE STOCK MARKET RISK. If, you are in as your report a 28% top tax bracket if, you purchase a bond with a 4% yield-LESS RISK THAN STOCK-WE ARE TOLD, you net 4%-28%=2.88%. You still have market risk when interest rates change-go up. You have the risk on many bonds where the issuer can call your bonds. Yet, another crocked deal many are surprised that they accepted. If, interest rates go up you either loose money when you sell the bond or hold it to maturity and you get less interest than new bonds pay. If, interest rates go down the issuer has the right to issue new bonds at lower interest rates and use that money to pay off your bond-you have no say in the matter.

WE ALL WANT SERVICES AND NO ONE WANTS TO PAY.
OH OBAMA'S UNPAID TAB IS TEN TRILLION DOLLARS. FORTY TWO PERCENT OF THE NATIONAL DEBT IS OWNED BY SOCIAL SECURITY

too long to read
[I'll read a 20 page link or watch a 2 hour video if it's unbiased, contains quotes, has references and well written]

Originally Posted by Guest

We are not using the "Fair" tax method of taxation. We would be taxed fairly IF we were using the Fair tax/Sales tax method. Right now, some pay none, some pay more than ten percent and others know how to use the itemizing method to their advantage and pay a less percentage. Even if a rich man pays a low percentage, he is likely paying more than you or me. My brother and I make almost the same amount, but I ended up paying less than him. The rich pay their fair share of taxes, whether by income tax, property tax or sales tax. They spend more than us, so they will always pay more sales tax. They own more than us so they will always pay more property tax. Personally, I do not think it is anyone's business how much money Trump makes. Anyone wishing to see his taxes other than IRS are just looking for something to slur him with. It only makes one look little and cheap to have such obvious envy and resentment against their betters.

I think we all agree that we need to reform our tax code. For those who are not aware, our current tax code is 86,000 pages.
By the way, when we talk tax code we are talking income tax. They have so many ways to pluck the chicken that he does not realize he is bald. Look at your cell phone bill
over a third of it is TAXES.
Cain pitched a 9-9-9 flat tax. He proposed keeping the mortgage deduction. First of all that is no longer a SIMPLE flat tax. It favors a special group. Also, the original proposal was written by Steve Forbes who wrote it would need to be 12-12-12.
THERE ARE SOME VERY SIMPLE facts that have always prevented a FAIR TAX. People all think they should get and someone else should pay for it-THAT IS TRUE THROUGH HISTORY. Our government uses the tax code to favor their supporters. An interesting line in the tax code was written to make Starbucks a manufacturer giving them a lower tax bite. Manufacturer status??? They roast coffee.

Originally Posted by Guest

I think we all agree that we need to reform our tax code. For those who are not aware, our current tax code is 86,000 pages.
By the way, when we talk tax code we are talking income tax. They have so many ways to pluck the chicken that he does not realize he is bald. Look at your cell phone bill
over a third of it is TAXES.
Cain pitched a 9-9-9 flat tax. He proposed keeping the mortgage deduction. First of all that is no longer a SIMPLE flat tax. It favors a special group. Also, the original proposal was written by Steve Forbes who wrote it would need to be 12-12-12.
THERE ARE SOME VERY SIMPLE facts that have always prevented a FAIR TAX. People all think they should get and someone else should pay for it-THAT IS TRUE THROUGH HISTORY. Our government uses the tax code to favor their supporters. An interesting line in the tax code was written to make Starbucks a manufacturer giving them a lower tax bite. Manufacturer status??? They roast coffee.

The Democrats in mass hysteria scream tax the rich.
In the real world-not in OBAMALAND. If they were not to raise taxes on the top 1% but just simply take everything they have-IT WOULD NOT PAY THE TEN TRILLION DOLLAR OVERDRAFT(addition to the national debt) that obama will leave on the desk for the next president to deal with.

Our current tax code is based on discrimination. When you treat one group differently from another group, especially worst then it's discrimination. The more you make the higher the tax percentage. All citizens should pay at the same rate/percentage or it is discrimination. A "Fair" tax, or sales tax is equal for everyone.

Those that cry about the rich not paying enough are just guilty of wealth envy and should be ignored. Sure they pay at the lowest percentage that's legal. I do too. I am middle class and after deductions and exemptions, I end up paying a net of 3% in federal taxes. Is that right? Sure, as long as it is legal it's right.

Originally Posted by Guest

Wrong, MDLIB, it is only right that the very rich, not just Trump, pay a higher percentage of their income in tax just as we, middle class, pay more in percentage than those making less than us.

Why should they pay a lesser percent in income tax than the middle class?

I don't give a hoot if the dollar amount is a lot more than the dollar amount I pay. I care about that the uber-rich pay a lesser percentage of income than I do. Ditto for big corporations.

You are PARROTING what the democrats are feeding you.

First of all throughout history, everyone wants but no one wants to pay.

The math is deliberately complex so that few people understand it. First of all you object to use of deductions.
I was in my own business. I assume you worked for someone other than yourself. AS TO FAIR-first social security. You paid 7% are your aware that your employer paid an equal amount for you. Whatever that amount was IT WAS TAX FREE INCOME TO YOU. Self employed, I paid 13%. If, you had a 401K, a 403B plan whatever match you got WAS TAX FREE INCOME. Same was true for whatever your boss paid for medical insurance, retirement plan etc it was all tax free to you.

You object to low tax rates for corporations. First of all our corporate tax rates are among the highest in the world.
Reason our companies, corporations, are buying foreign corporations and thus paying tax to foreign countries rather than in the US. More important RE EVIL CORPORATION OWNERS. If, you have a retirement plan, a 401k 403b etc-YOU TOO ARE AN EVIL CORPORATION OWNER.

The top tax rate on corporate dividends is 15% less than the 28% you claim you pay. I AM ONE OF THE EVIL HOLDERS OF DIVIDEND STOCKS. THE OPPORTUNITY WAS THERE FOR ALL OF US.

The return on them has been quite good. THE REASON FOR THAT IS THE MANIPULATION OF INTEREST RATES BY OUR GOVERNMENT. Just because the have a fancy name-quantitative easing-they have created a house of cards. WILL THEY HAVE THE NERVE TO CALL IT WHAT IT IS WHEN IT EXPLODES-THE OBAMA BUBBLE.

Originally Posted by Guest

You are PARROTING what the democrats are feeding you.

First of all throughout history, everyone wants but no one wants to pay.

The math is deliberately complex so that few people understand it. First of all you object to use of deductions.
I was in my own business. I assume you worked for someone other than yourself. AS TO FAIR-first social security. You paid 7% are your aware that your employer paid an equal amount for you. Whatever that amount was IT WAS TAX FREE INCOME TO YOU. Self employed, I paid 13%. If, you had a 401K, a 403B plan whatever match you got WAS TAX FREE INCOME. Same was true for whatever your boss paid for medical insurance, retirement plan etc it was all tax free to you.

You object to low tax rates for corporations. First of all our corporate tax rates are among the highest in the world.
Reason our companies, corporations, are buying foreign corporations and thus paying tax to foreign countries rather than in the US. More important RE EVIL CORPORATION OWNERS. If, you have a retirement plan, a 401k 403b etc-YOU TOO ARE AN EVIL CORPORATION OWNER.

The top tax rate on corporate dividends is 15% less than the 28% you claim you pay. I AM ONE OF THE EVIL HOLDERS OF DIVIDEND STOCKS. THE OPPORTUNITY WAS THERE FOR ALL OF US.

The return on them has been quite good. THE REASON FOR THAT IS THE MANIPULATION OF INTEREST RATES BY OUR GOVERNMENT. Just because the have a fancy name-quantitative easing-they have created a house of cards. WILL THEY HAVE THE NERVE TO CALL IT WHAT IT IS WHEN IT EXPLODES-THE OBAMA BUBBLE.

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