Thread: Senate fails to advance Buffett rule

Originally Posted by Hare

Where on earth are you getting your numbers? 11 hours?

Figure it out and get back to me.

how long do you think it will fund the government???...LMFAO

Originally Posted by Rapunzel52

Figure it out and get back to me.

how long do you think it will fund the government???...LMFAO

Asking someone to hunt down the source of your own flawed numbers is not a good practice.

Seeing as various estimates project revenues to fall anywhere between 30 and 40 billion, around 7 to 10 days.

Originally Posted by Hare

Asking someone to hunt down the source of your own flawed numbers is not a good practice.

Seeing as various estimates project revenues to fall anywhere between 30 and 40 billion, around 7 to 10 days.

Doesn't seem like enough.

Originally Posted by muciti

My effective tax rate was roughly 27%.

However that of course was after i got deductions for various things. If you take what made and what i paid in total taxes it was much less.

I do not understand the second part of your comment. What was much less?
Your effective tax rate is simply your tax paid divided by your gross income. That is what you paid divided by what you made.

ie: You paid $20,000 and your gross income was $120,000 your EFFECTIVE tax rate is ~16%

Your "tax bracket" is not your effective tax.

The issue I have with the story that came out about Obama's secretary is that they used his Effective tax rate and her Tax Bracket when they reported the story. Apples and Oranges...

Originally Posted by Blue_State

Doesn't seem like enough.

Like i said, just a stepping stone for Barry to confiscate all the wealth he can. Anyone who votes for this man is either an idiot or a Marxist.

Originally Posted by Chiefgator

I do not understand the second part of your comment. What was much less?
Your effective tax rate is simply your tax paid divided by your gross income. That is what you paid divided by what you paid.

ie: You paid $20,000 and your gross income was $120,000 your EFFECTIVE tax rate is ~16%

Your "tax bracket" is not your effective tax.

The issue I have with the story that came out about Obama's secretary is that they used his Effective tax rate and her Tax Bracket when they reported the story. Apples and Oranges...

Warren really doesn't pay income tax. He already paid income tax on the money he's investing quite a while ago...he's basically only paying a dividend tax... or capital gains.
Of course he's for the Buffett rule, it doesn't effect him.

Originally Posted by Hare

Asking someone to hunt down the source of your own flawed numbers is not a good practice.

Seeing as various estimates project revenues to fall anywhere between 30 and 40 billion, around 7 to 10 days.

You should be unabashedely ashamed of a post like that.

That you are not is indicative of the cancer amongst us.

7-10 days. Out of a total of over 3700. Oh yeah, this really counts

Ron White nailed it.

Originally Posted by Rapunzel52

Warren really doesn't pay income tax. He already paid income tax on the money he's investing quite a while ago...he's basically only paying a dividend tax... or capital gains.
Of course he's for the Buffett rule, it doesn't effect him.

yes..... I know......

Originally Posted by Gimmesometruth

I just read your argument and your math, you can't see how your argument for a flat tax would cause you to have less wealth.

You are the perfect example of a person who argues against their own self interest.

Yes. Yes I would have to pay more. As would EVERYONE else. Our country is in massive debt and I am willing to pay my share. I will always put the interests of the United States ahead of my own. I am not that selfish. I have no problem admitting that.

Originally Posted by AdamT

No, that is incorrect. Obviously it depends on how you define middle class, and of course there's a large variation between what people pay given their particular situations. The middle quintile pays, on average, around 14%. That's a higher rate than Romney pays some years, and of course there are some people in that middle group who pay more than 14%. There are also plenty who don't pay anything at all as a result of the EITC and other credits.

But I think it's safe to say that NO middle class American is paying a 30% tax rate. That would be mathematically impossible given that the 28% bracket doesn't start until you have $140k in income (married filing jointly).

And yet Obama is pushing that the middle class does. Are you saying he is full of ****?