here is all I want. I pay at 28%, Romney and many other multi-millionaires pay at 15%. Until someone can explain to me how this is fair,I opt for income redistribution. And please do not give me the bogus explaination that the richest are the job creators. The rich have NEVER been richer so where wre the jobs. Not around ,you know why....the middle class creates all the jobe because when they have money they buy things,lots of things thus creating jobs.

buggyone, nope not me. I will just tell them to come to your house.

My house is easy to find. It is the one with the "Occupy The Villages" sign on the front lawn - next to the pink flamingo.

The original post pertained to Obama's State of the Union/aka Campaign speech. Did anyone expect anything less than empty romises, misinformation and populist hyperbole.

Obama's populist assualt on the 1% is just that a populist tactic. According to IRS data there are 8,273 other than Romney who made $10 million in 2009.
So Obama's claim that icrease their taxes will pay for his agenda is bupkus.
We are already have a progressive tax in place and hence Obama will have to broaden out his base to pay for his agenda...meaning you and me.

Another fallacy is that Obama doesn't differentiate between "C" and "S" corporation.."C" corporations havethe ability to spread out the tax base and can pass some 70% tax obligations to customers (GE is a prime example) whereas "S" corporations cannot and they represents many of those making over $250,000. so Obama's class warfare is bogus in many ways.

As to the tax system don't blame corporation or individuals for avoiding taxes we all do. Blame Congress they wrote the laws and guys like Chuck Schummer and charlie Rangel have been attentive guardians.

I am not against the wealthy geting wealthy or the taxes they don't pay but I am against how some of them accumulate their wealth

when people quote what they pay VS anybody else PLEASE provide more info.
You CANNOT compare percentages that some pay on investments to what another may pay on wages.

Rich people (pick a number) do not get their money from nor do they pay taxes on wages earned or paid. The tax rates are different for various tax laws.

I don't understand why people try to keep comparing an apple with a watermelon.

It only stirs the pot of the uninformed!!! But that doesn't seem to stop some from continuing to do so!!

btk

I really don't care what they pay on. It's 15% compared to a middle class earner who pays at 28%. The wealthy make a sham of our tax system. It is not fair and balanced.

Newt has stated he would abolish all income tax on long term capital gains, meaning mr. romney and others like him would pay 0%.

Another interesting FACT about taxes. If you paid federal taxes in the last 3 years you paid more than 30 Fortune 500 companies combined because they paid $0 in taxes.Some even got money back. And to top it off they made $160 billion in profits. Why is this ?

If someone does not know how to properly spell "Republican", what the he-l are they doing posting something on this site?

Geeze...that's a little rough, don't you think? And you have never made a spelling error?:undecided:

Those that walk on water should be care they don't fall off the rocks.

I assume those who are harping about the low 15% rate are willing to have the earnings on their 401-k and other investments that earn interest, pay dividends or realize capital gains would not mind the rate going from 15% to 28% on their investments?

The 15% is not a number just for the "wealthy". It is only another political bone to chew on...or red herring to distract from real issues.

btk

Somebody help me understand. Hasn't the money that has been taxed on Capital Gains already been taxed, when it was originally earned?

Good point sally

Everyone's got to beware of reaching conclusions based on the lies and obfuscations from the administration and the national media. The rich pay much more in taxes than the rest of us, effectively paying about 25%

97% of Americans filing taxes paid 11.9% or less.

Beware False Claims: 'Romney's Tax Rate Is Below That of Most Wage-Earning Americans' | NewsBusters.org

Mitt Romney to pay $6.2M in taxes for 2010-2011

The Tax Foundation - Romney