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Thread: White House Tax Plan Would Ask More of Millionaires

  1. #711
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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Conservative View Post
    vvx, you need to stop when you are way behind. Payroll taxes are SS and Medicare with everyone paying the same rate. That is a loser for you. this is all about income taxes and the passion some have for raising taxes is quite disturbing because what you are saying is that you want send more money to the politicians that have created this mess which makes no sense. Why do you and others care what someone else pays in taxes. There is no logic in this argument, first of all as has been pointed out Buffett and his secretary pay the same tax rate if they make similar ordinary income. Buffett's salary is reported to be 100k and if his secretary is 100k she/he pays the same rate. If she is making 60k she is paying less than Buffett in tax rates. Finally if she is making investment income she pays the same rate as Buffett as well, 15% capital gains, so not sure what you are even talking about but I do know that Buffett and obama are lying.
    I assume you have not taken the time to read Warren Buffet's argument then. It is an interesting way to approach things. Really, it won't take you very long. Give it a shot.

    "To understand why, you need to examine the sources of government revenue. Last year about 80 percent of these revenues came from personal income taxes and payroll taxes. The mega-rich pay income taxes at a rate of 15 percent on most of their earnings but pay practically nothing in payroll taxes. It’s a different story for the middle class: typically, they fall into the 15 percent and 25 percent income tax brackets, and then are hit with heavy payroll taxes to boot."

    Notice that he includes payroll taxes? Maybe you should stop while you are way behind, at least until you read the argument and understand what Warren Buffet is saying.

    Now, if you want to change the system so that payroll taxes are "SS and Medicare with everyone paying the same rate" with no ceilings and on all types of income, hey, I'll support you 100%. Bring on SS / Medicare tax on capital gains! Here here! (Is that not what you meant?)

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by TurtleDude View Post
    payroll taxes-aka the contributions for SS and MC were never intended to be general taxes. try again
    Try reading Warren Buffet's argument.

    "To understand why, you need to examine the sources of government revenue. Last year about 80 percent of these revenues came from personal income taxes and payroll taxes. The mega-rich pay income taxes at a rate of 15 percent on most of their earnings but pay practically nothing in payroll taxes. It’s a different story for the middle class: typically, they fall into the 15 percent and 25 percent income tax brackets, and then are hit with heavy payroll taxes to boot."

    He includes payroll taxes. Whodathunkit?

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by vvx View Post
    Try reading Warren Buffet's argument.

    "To understand why, you need to examine the sources of government revenue. Last year about 80 percent of these revenues came from personal income taxes and payroll taxes. The mega-rich pay income taxes at a rate of 15 percent on most of their earnings but pay practically nothing in payroll taxes. It’s a different story for the middle class: typically, they fall into the 15 percent and 25 percent income tax brackets, and then are hit with heavy payroll taxes to boot."

    He includes payroll taxes. Whodathunkit?
    while I think buffett is an arrogant sanctimonious asshole he also pays far more taxes than most people and if he wants to pay more that is his business But he shouldn't demand others pay even more just because he is cyberfellating obama and the dems



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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Conservative View Post
    vvx, you need to stop when you are way behind.
    Has not stopped you yet

    Payroll taxes are SS and Medicare with everyone paying the same rate. That is a loser for you.
    This is not true. FICA is capped, which means that those who make over the cap pay a lower rate

    this is all about income taxes and the passion some have for raising taxes is quite disturbing because what you are saying is that you want send more money to the politicians that have created this mess which makes no sense. Why do you and others care what someone else pays in taxes. There is no logic in this argument, first of all as has been pointed out Buffett and his secretary pay the same tax rate if they make similar ordinary income.
    Niether Buffett nor his secretary are you, so why do you care what they pay?

    Buffett's salary is reported to be 100k and if his secretary is 100k she/he pays the same rate. If she is making 60k she is paying less than Buffett in tax rates. Finally if she is making investment income she pays the same rate as Buffett as well, 15% capital gains, so not sure what you are even talking about but I do know that Buffett and obama are lying.
    Salary is not the same thing as income. Further, the issue is how much of each's income is of what type. Effective tax rate = amount paid in taxes divided by the income. Since they are talking about effective tax rates, they are in fact correct. How many times do you need to have people explain this to you?
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by vvx View Post
    I assume you have not taken the time to read Warren Buffet's argument then. It is an interesting way to approach things. Really, it won't take you very long. Give it a shot.

    "To understand why, you need to examine the sources of government revenue. Last year about 80 percent of these revenues came from personal income taxes and payroll taxes. The mega-rich pay income taxes at a rate of 15 percent on most of their earnings but pay practically nothing in payroll taxes. It’s a different story for the middle class: typically, they fall into the 15 percent and 25 percent income tax brackets, and then are hit with heavy payroll taxes to boot."

    Notice that he includes payroll taxes? Maybe you should stop while you are way behind, at least until you read the argument and understand what Warren Buffet is saying.

    Now, if you want to change the system so that payroll taxes are "SS and Medicare with everyone paying the same rate" with no ceilings and on all types of income, hey, I'll support you 100%. Bring on SS / Medicare tax on capital gains! Here here! (Is that not what you meant?)
    You need to separate income taxes from payroll taxes as there is no comparison. Payroll taxes are supposed to go to SS and Medicare not to general expenses even though that is where that money is going now.

    SS and Medicare come back to the middle class so that argument is bogus. Income taxes however get back to the people in the form of services and right now about 65 million people(47% of 140 million income earners) don't pay ANY FIT.

    If you continue to buy SS/Medicare as being part of the tax burden then you are fighting a losing argument.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by vvx View Post
    Try reading Warren Buffet's argument.

    "To understand why, you need to examine the sources of government revenue. Last year about 80 percent of these revenues came from personal income taxes and payroll taxes. The mega-rich pay income taxes at a rate of 15 percent on most of their earnings but pay practically nothing in payroll taxes. It’s a different story for the middle class: typically, they fall into the 15 percent and 25 percent income tax brackets, and then are hit with heavy payroll taxes to boot."

    He includes payroll taxes. Whodathunkit?
    payroll taxes were never intended to be either totally progressive or a general revenue tax

    its as as idiotic as saying that its wrong that say a drivers' license fee is not progressive

    FICA was never intended to be what it is now



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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by TurtleDude View Post
    payroll taxes-aka the contributions for SS and MC were never intended to be general taxes. try again
    Are they a federal tax? Oops, try again.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Conservative View Post
    His point is perfectly clear, he is promoting class warfare and you continue to buy the lies of this Administration. You have so much passion for an expanded central govt. and all the waste, fraud, and abuse that govt. creates. The question is why?
    Rhetoric and spin, the tools for those who don't have facts and logic on their side.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by Conservative View Post
    You need to separate income taxes from payroll taxes as there is no comparison. Payroll taxes are supposed to go to SS and Medicare not to general expenses even though that is where that money is going now.

    SS and Medicare come back to the middle class so that argument is bogus. Income taxes however get back to the people in the form of services and right now about 65 million people(47% of 140 million income earners) don't pay ANY FIT.

    If you continue to buy SS/Medicare as being part of the tax burden then you are fighting a losing argument.
    Libs tend to ignore reality in their desire to justify more class warfare and more taxes on the rich

    its actually 51% now that don't pay income taxes.

    and trying to use FICA or SS "Taxes" to justify this class warfare nonsense is idiotic as you noted



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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by TurtleDude View Post
    while I think buffett is an arrogant sanctimonious asshole he also pays far more taxes than most people and if he wants to pay more that is his business But he shouldn't demand others pay even more just because he is cyberfellating obama and the dems
    Why are you spending so much time cyberfellating the republicans?

    So how easy it is to make such a stupid argument and how easy it is to beat?
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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