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Thread: White House Tax Plan Would Ask More of Millionaires

  1. #1571
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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by mbig View Post
    Top Earners Averaged $345 Million in 2007, IRS Says
    By Ryan J. Donmoyer - Feb 18, 2010
    Top Earners Averaged $345 Million in 2007, IRS Says (Update1) - Bloomberg

    Your schtick is to blather on and on about the top 400. WHEN AND IF SOMEONE IN THE OBUMBLE ADMINISTRATION actually limits their soak the rich class warfare crap to the TOP 400 then maybe all this nonsense about the top 400 would actually matter.

    what is really disgusting is using what the top 400 have or do or pay in taxes to justify jacking up taxes on those making a couple million to a few hundred thousand.



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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by What if...? View Post
    I care for a very simple reason.

    There has never been, and never will be, a poor tyrant.

    And the primary activity of tyrants that negatively impacts those they tyrannize is the accumulation of wealth and power.

    Tyrants force people to work for them. In the form of rents or taxes.

    They may just want to tell others what to do, but it costs MONEY to satisfy that desire, in the form of wages to men with weapons and their overseers.

    You know, that magic formula that keeps showing up where 1-2% lead another 15-20% to exploit the other 80%.

    Everywhere that it sucks for most to live follows this model.

    I will not apologize for objecting to this country conforming to this model.

    Nor will I miss an opportunity to point this out.
    Good Lord, Man, you are in the wrong country, no one forces you to work for a tyrant, no one put a gun to your head to work for anyone. I was looking for a job when I found the job I had for 35 years and earned every dime I made. Tell me why you think it is your right to tell me what I should do with the money I earn and where I should spend it? Explain to me how spending in the name of compassion that has never generated compassionate results is better use of taxpayer dollars vs. giving that money directly to the poor.

    Forgive me but I will file this post of yours where it belongs, in the circular file beneath my desk. It really is sad to see people like you having the attitude you have. That entitlement mentality that you seem to have will certainly be successful for you in the future.

  3. #1573
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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Catawba View Post
    "Deloitte in 2011 estimated that there were 10,541,0000 US dollar millionaires in the United States."

    Millionaire - Wikipedia, the free encyclopedia





    Wrong again, what Obama seeks to change is the effective tax rates:

    "Behind the arguments of Mr. Obama, Mr. Buffett and others about the inequity of the tax system is the difference between taxpayers’ marginal tax rate, popularly known as their tax bracket, and the effective tax rate they end up paying after subtracting for deductions, credits and other breaks.

    The marginal tax rate is the percentage paid on the last dollar a person earns. The current system has six marginal tax rate percentages — 10, 15, 25, 28, 33 and 35 — and each applies to a progressively higher amount of income. In theory, a wealthy filer pays the lower rates on income within each bracket, but the bulk of their income is taxed at the top 35 percent rate. Middle-class taxpayers generally pay marginal rates of 15 percent or 25 percent.

    But investors like Mr. Buffett pay no more than 15 percent on most of their income because that rate applies to capital gains, dividends and “carried interest,” which is the compensation paid to hedge fund partners and investment managers like Mr. Buffett.

    Another reason many wealthy Americans pay a smaller share of their income in federal taxes is that the Social Security payroll tax does not apply to income above $106,800; most people do not reach the cutoff and pay the tax on all their income.

    Counting income and payroll taxes, Mr. Buffett has said he paid an effective tax rate of 17.4 percent for 2010 compared with an average 36 percent rate for many employees of his company, Berkshire Hathaway."
    http://www.nytimes.com/2011/09/18/us...pagewanted=all




    Yeah, that's the point, those making more that are paying a lesser percentage of their total income in taxes.



    Yes, investment income is taxed at a lower rate. The proposal is to increase the amount taxed on investments so that the rich are not paying a lower tax rate than the middle class.



    Wrong again, you are distorting the interview that notion originated from. As Buffett said, he wrote the tax plan. He does reserve the right however to see how Congress might rewrite his proposal.


    In summary, it is very impressive how you number your points, all of which proved untrue unfortunately. But please do try, try again.
    NO ONE PAYS AN EFFECTIVE INCOME RATE OF 36% IN THE USA Given that 35% is the highest marginal rate. If you count all federal taxes maybe the top payers are close to that but its not the middle class. we posted the stuff and the top effective federal rate is around 30% and that is those in the several hundred thousand to a few million

    NOT THE MIDDLE CLASS



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    Re: White House Tax Plan Would Ask More of Millionaires

    Good Lord, Man, you are in the wrong country, no one forces you to work for a tyrant, no one put a gun to your head to work for anyone. I was looking for a job when I found the job I had for 35 years and earned every dime I made.
    and there goes all logic and reason.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Catawba View Post
    Estate taxes are just another of the taxes cut since we began the 30 year experiment with trickle down economics. The Estate tax, before it was cut, did not end motivation for people to do well. There is absolutely no evidence of that claim. One of the problems resulting from that cut, in addition to lowering revenues needed to help prevent debt, is that it concentrates wealth in fewer hands so that our economy loses the consumer base with money to consume that is needed to make our economy tick. We should have learned this before, after the Great Depression, but as with all those who refuse to learn from history, we are doomed to repeat it.





    History has much to teach us in avoiding mistakes already made. We saw how the combination a high disparity of wealth between the classes combined with unregulated speculation led to the Great Depression. And from history we see there is no indication that raising taxes on the wealthy, each time it has been done, has either hurt the economy or increased our debt.
    History shows that if you subsidize dependence, sloth, and parasitic behaviour you increase it which is what the dems want since that corresponds to increased dem voters



  6. #1576
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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by What if...? View Post
    Just exactly what the **** do you mean by that last sentence?
    Well, let's see, what have you been doing the past year? "I have been protesting the capitalistic system that I now want you to hire me to be part of" It really is a shame that you cannot think beyond your own prejudices.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Conservative View Post
    Well, let's see, what have you been doing the past year? "I have been protesting the capitalistic system that I now want you to hire me to be part of" It really is a shame that you cannot think beyond your own prejudices.
    Why do you talk down to people on the forums?

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by EarlzP View Post
    Do you recognize the 1st Amendment? She has every right and a responsibility to stand up for what she believes in even if I did not agree with her and even if you do not agree with her, I under stand why some would be concerned with the occupy wall street movement, I understand why the rich, why Wall Street, why bankers and many others including the Chinese would be concerned.

    When our involvement in Viet Nam was starting I went I did not have to I asked to, why? the protests were going on and I wanted to know why we were there, I never challenged the protestors right to demonstrate against the war, I did not like it much that people going to college were able to avoid their duty to country I mean the colleges would be there when and if they came back, the fact that many rich kids could avoid duty to country is just one reason I think the rich should pick up more of the tax burden, worst then that was rich kids sat at home while the children of the poor died fighting for their country.

    I will bet that the rich are really concerned about the demonstrations and should be
    And private industry has every right to fire her ass.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Jryan View Post
    You really think Bush was a good president. Holy check.

    31 Reasons Why Bush is a Bad President at bengarvey.com
    Bush isn't the topic of this thread but he will go down in history as a much better President than the empty suit in the WH now when actual results are reviewed, not partisan biased media reports that you and others buy. The only person smiling today is Jimmy Carter since he is being replaced by Barack Obama as the country's worst President.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Conservative View Post
    Well, let's see, what have you been doing the past year? "I have been protesting the capitalistic system that I now want you to hire me to be part of" It really is a shame that you cannot think beyond your own prejudices.
    Why would they know? Did she put it on a resume?
    Last edited by What if...?; 10-06-11 at 10:10 PM.
    Anyone wondering what I'm talking about start here:
    The Psychology of Persuasion

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