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American Millionaires: 1,400 Paid No U.S. Income Taxes In 2009

The reason these taxes aren't paid is because of loopholes. Eliminate the loopholes, and you can lower the actual rates. I would favor a flat tax rate if it meant that the loopholes were eliminated. Pay a certain percent of your income -- the same percentage as everyone else, but that's on all income including capital gains (you made the money, you pay the taxes).

There is no way that you can justify a person making millions in income paying less taxes than I do (as far as actual dollar figures). The actual dollar amount they pay should be higher than the dollar amount I pay, because their income is larger than mine.
 
rocket88 said:
The reason these taxes aren't paid is because of loopholes. Eliminate the loopholes, and you can lower the actual rates. I would favor a flat tax rate if it meant that the loopholes were eliminated. Pay a certain percent of your income -- the same percentage as everyone else, but that's on all income including capital gains (you made the money, you pay the taxes).

There is no way that you can justify a person making millions in income paying less taxes than I do (as far as actual dollar figures). The actual dollar amount they pay should be higher than the dollar amount I pay, because their income is larger than mine.
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That would be so with a flat-tax system. . . the reality is that their taxes are incrementally higher than yours per sector of money they earn . . . moot point in restating that - I just agree with you.
 
I can't believe so many people paid no income taxes in 2009. It's as though people lost money that year or something.
 
winston53660 said:
Okay what are my "real" reasons?
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based on your thousands of posts whining about the rich-you are upset that some people are rich and have more than you think they need and others-have less than you think they need
 
rocket88 said:
The reason these taxes aren't paid is because of loopholes. Eliminate the loopholes, and you can lower the actual rates. I would favor a flat tax rate if it meant that the loopholes were eliminated. Pay a certain percent of your income -- the same percentage as everyone else, but that's on all income including capital gains (you made the money, you pay the taxes).

There is no way that you can justify a person making millions in income paying less taxes than I do (as far as actual dollar figures). The actual dollar amount they pay should be higher than the dollar amount I pay, because their income is larger than mine.
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how many people actually making millions of dollars in the USA are paying less actual income tax dollars than you do

but if you make 400K on a salary and they make 450K on dividends they will pay less because investment income is often taxed less. Of course with dividends, in reality they often pay twice
 
TurtleDude said:
based on your thousands of posts whining about the rich-you are upset that some people are rich and have more than you think they need and others-have less than you think they need
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Okelly dookey Dr Phill:roll:
 
TurtleDude said:
I'd bet a million dollars if we doped you up with scopolamine you'd say exactly what I note you would.
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Sorry your Monopoly money is no good.

BTW when I'm put into a drug induced twilight state I'm usually a joker and talk about fine art. Like when my pace maker / defibrillator was installed.
 
rocket88 said:
The reason these taxes aren't paid is because of loopholes. Eliminate the loopholes, and you can lower the actual rates. I would favor a flat tax rate if it meant that the loopholes were eliminated. Pay a certain percent of your income -- the same percentage as everyone else, but that's on all income including capital gains (you made the money, you pay the taxes).

There is no way that you can justify a person making millions in income paying less taxes than I do (as far as actual dollar figures). The actual dollar amount they pay should be higher than the dollar amount I pay, because their income is larger than mine.
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Just want to check something. If you increase capital gains you lower the value of equities as people and corporations invest based on an after tax return. So your increase in capital gains let's say to 30%. That would lower the value of return 15%, let's just say that translates into only a 10% lower value of the stock markets or something like $1 trillion. Yes you would hurt rich, retired living on their saved income, pension plans of state and local workers.

Congratulations on destroying or at least hurting millions of vulnerable Americans.
 
washunut said:
Just want to check something. If you increase capital gains you lower the value of equities as people and corporations invest based on an after tax return. So your increase in capital gains let's say to 30%. That would lower the value of return 15%, let's just say that translates into only a 10% lower value of the stock markets or something like $1 trillion. Yes you would hurt rich, retired living on their saved income, pension plans of state and local workers.

Congratulations on destroying or at least hurting millions of vulnerable Americans.
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well you have to realize that many worship the guy who claimed that jacking up said taxes "was fair" even if it led to less taxes.

people who don't have the thrift or wherewithall to invest tend to get upset that others do
 
TurtleDude said:
well you have to realize that many worship the guy who claimed that jacking up said taxes "was fair" even if it led to less taxes.

people who don't have the thrift or wherewithall to invest tend to get upset that others do
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It is just annoying that it seems folks could care less about the economic impact of their political views. I guess most don't care as they and their families have saved nothing so who cares if the market is destroyed.
 
washunut said:
It is just annoying that it seems folks could care less about the economic impact of their political views. I guess most don't care as they and their families have saved nothing so who cares if the market is destroyed.
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many are essentially vandals. if they cannot have wealth, damn it-no one else should either
 
TurtleDude said:
that assumes the bank goes belly up-try again, its only covered to 200K and again that ignores the fact that every millionaire pays more income taxes than over 80Million Americans
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Ah, a DOUBLE-FAIL.

It's $250K -- if you were really who you say you are, you'd know that.

And Millionaires play a smaller percentage of their income that the average American.
 
TurtleDude said:
speaking of fail

WE ARE TALKING ABOUT THE AMOUNT GUARANTEED BY THE GOVERNMENT AT BANKS
NOT WHERE THE TOP TAX RATES HIT

this is the sort of idiocy that happens when someone wants to attack another poster and cannot wait to read what was said
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Uh 250k is what the FDIC covers in the average account.

also as I pointed out already what the FDIC covers can be unlimited in certain non interest accounts.
 
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hazlnut said:
Ah, a DOUBLE-FAIL.

It's $250K -- if you were really who you say you are, you'd know that.

And Millionaires play a smaller percentage of their income that the average American.
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You are lying about millionaires

the very richest billionaires pay a lower rate ONLY BECAUSE CAPITAL GAINS ARE TAXED AT A LOWER RATE

the group that pays the highest effective rate are those making between 380K and 5 millions

and BFD that the rate was raised to 250K last year-I am not a banker

and anytime you want to put some money up rather than constantly make snide comments about what you think I am, do so. Put up or shut up

I tire of your constant attacks by someone who cannot handle the fact that I make more than he does
 
winston53660 said:
Uh 250k is what the FDIC covers in the average account.

also as I pointed out already what the FDIC covers can be unlimited in certain non interest accounts.
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you are right-on some accounts.

how common are they?
 
hazlnut said:
Ah, a DOUBLE-FAIL.

It's $250K -- if you were really who you say you are, you'd know that.

And Millionaires play a smaller percentage of their income that the average American.
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do you mean someone who makes $1 million per year or someone who is 55 has a house that is paid off worth $500K and a 401K worth $600K. Both he and his wife worj with a combined income of $120K and pay taxes on their house of about $8K. Pretty typical in many parts of the country, but demonized by folks like you.
 
winston53660 said:
How common is it for the average person to have 250k in savings account?
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non responsive but slim to none

most average people if they have that much have that in equity or retirement accounts
 
TurtleDude said:
non responsive but slim to none

most average people if they have that much have that in equity or retirement accounts
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I'm not the totally rich lawyer guy that was dead wrong in the first place.:lamo

I'm just the poor guy waiting for his heart to give out.
 
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winston53660 said:
I'm not the totally rich lawyer guy that was dead wrong in the first place.:lamo
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yeah you are the guy who makes up claims that the rich should pay more taxes because it costs the federal government more to protect their homes etc
 
TurtleDude said:
yeah you are the guy who makes up claims that the rich should pay more taxes because it costs the federal government more to protect their homes etc
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LOL - why would it even cost the government a single dime when they alone could employ the entire police force at a whim?
 
TurtleDude said:
yeah you are the guy who makes up claims that the rich should pay more taxes because it costs the federal government more to protect their homes etc
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And I showed you quite clearly and lucidly where they get more protection via the Federal government in the banking system.
 
Aunt Spiker said:
LOL - why would it even cost the government a single dime when they alone could employ the entire police force at a whim?
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good point-ask winston who constantly tries to justify making the rich pay even more taxes

he believes that our national defenses (army, navy, USAF) spend more money protecting my property than his!!
 
winston53660 said:
And I showed you quite clearly and lucidly where they get more protection via the Federal government in the banking system.
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Only if the bank fails and certainly not at the rate where one millionaire pays more federal income taxes than 100 million
 
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