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Thread: Obama only paid a 26% income tax rate for 2010

  1. #221
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    Re: Obama only paid a 26% income tax rate for 2010

    Quote Originally Posted by Wiseone View Post
    How are you going to ask for proof when you don't provide it for your own statements? Double standards, shame on you.
    What have I failed to prove? Are you saying that Obama didn't only pay a tax rate of 26%?

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    Re: Obama only paid a 26% income tax rate for 2010

    Quote Originally Posted by apdst View Post
    And you can prove both of those contentions, yes?
    Prove that the GOP are hypocrites and Romney does not exploit tax loopholes for his business? Google it. Start with the GOP front runners.. people like Sarah Palin, Huckabee and so on. Plenty of evidence of their hypocrisy. And it is a well known fact that Romney got rich due in large part to off-shore tax havens.

    What are you smoking? Who was it that allowed a payroll tax cut expire last year? The Democrats.
    So what.. payroll taxes are nothing compared to the disaster of the GOP economic policy the last decade plus. Who cares about payroll taxes when there are no jobs. Typical of you right wing hacks, only thinking about taxes taxes taxes... you do know there are other things in life right? And considering the deficit you guys got... taxes should be going UP!

    And yet the rich get richer and richer. Dow is almost at record highs again!

    It's quite obvious that you're not from here and don't have the first damn clue about what really goes on in this country.
    Actually it is quite obvious that you have lost this debate and are now resorting to personal attacks and twisting the facts. Funny how you were no where when Sarah Palin got busted for "tax evasion" not long ago..
    Last edited by PeteEU; 04-25-11 at 05:44 AM.
    PeteEU

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    Re: Obama only paid a 26% income tax rate for 2010

    Quote Originally Posted by apdst View Post
    What have I failed to prove? Are you saying that Obama didn't only pay a tax rate of 26%?
    huh. i guess he does think he needs a tax cut.

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    Re: Obama only paid a 26% income tax rate for 2010

    Quote Originally Posted by PeteEU View Post
    Prove that the GOP are hypocrites and Romney does not exploit tax loopholes for his business? Google it. Start with the GOP front runners.. people like Sarah Palin, Huckabee and so on. Plenty of evidence of their hypocrisy. And it is a well known fact that Romney got rich due in large part to off-shore tax havens.
    of course they will - people will seek out ways to minimize their tax exposure becayse they have strong incentives to do so. thats one of the reasons why raising taxes won't increase revenue.

    the 2012 House Budget, of course, strips all of these loopholes, and forces people to actually pay lower, flatter, but revenue equal rates.

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    Re: Obama only paid a 26% income tax rate for 2010

    Quote Originally Posted by cpwill View Post
    of course they will - people will seek out ways to minimize their tax exposure becayse they have strong incentives to do so.
    Yes, but you forgot... people with money will seek out ways to minimize their tax exposure... normal Americans dont have that luxury.

    thats one of the reasons why raising taxes won't increase revenue.
    No that is false. Raising taxes WILL increase revenue. Problem is the US tax code is filled with loop holes put in place on behave of the rich and big business, so that these can avoid paying taxes.

    the 2012 House Budget, of course, strips all of these loopholes, and forces people to actually pay lower, flatter, but revenue equal rates.
    The Ryan budget right? Stripping loopholes is commendable... the rest of the House Budget on the other hand is so pro big business and the rich that it is not even funny.
    PeteEU

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    Re: Obama only paid a 26% income tax rate for 2010

    Quote Originally Posted by PeteEU View Post
    Yes, but you forgot... people with money will seek out ways to minimize their tax exposure... normal Americans dont have that luxury.
    the more money you have the better your ability to minimize your tax exposure. but regular normal Americans do as well -we take deductions for charitable giving, mortgage interest... whatever Turbo Tax (or the equivalent) tells us we can do to lower our tax bill, we do.

    No that is false. Raising taxes WILL increase revenue.
    I almost wish it was true - it would make life much simpler. but the unfortunate reality over the past 50 years has been that there is little if any connection between tax rates and the amount of income we get in revenue. the main effect tax rates seem to have on revenue appears to be indirect; via it's ability to alter growth in GDP.

    Problem is the US tax code is filled with loop holes put in place on behave of the rich and big business, so that these can avoid paying taxes.
    that is indeed one of the many, many problems with our current tax code.

    The Ryan budget right? Stripping loopholes is commendable... the rest of the House Budget on the other hand is so pro big business and the rich that it is not even funny.
    really. considering that it collects just as much in taxes from them, but cuts their benefits, how do you figure that?

  7. #227
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    Re: Obama only paid a 26% income tax rate for 2010

    Quote Originally Posted by apdst View Post
    What have I failed to prove? Are you saying that Obama didn't only pay a tax rate of 26%?
    Its not so much that you failed to prove something, you just failed to make a point. What is the problem with paying an effective rate of 26%? That seems pretty normal given the other facts set forth. My point is that I don't think you are sufficiently knowledgeable about how income taxes work to make a credible argument of outrage here. You are confusing effective taxes (26%, in this case) with the marginal tax rate (35%)... and don't understand that the last dollars on the Obama tax return were indeed paid at the effective rate of 35%.

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    Re: Obama only paid a 26% income tax rate for 2010

    Quote Originally Posted by apdst View Post
    I'm not disputing how the tax code works. Are you yet another Liberal that is totally missing the ****ing point?
    Spaceman Spiff?
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: Obama only paid a 26% income tax rate for 2010

    Quote Originally Posted by PeteEU View Post
    Yes, but you forgot... people with money will seek out ways to minimize their tax exposure... normal Americans dont have that luxury.



    No that is false. Raising taxes WILL increase revenue. Problem is the US tax code is filled with loop holes put in place on behave of the rich and big business, so that these can avoid paying taxes.



    The Ryan budget right? Stripping loopholes is commendable... the rest of the House Budget on the other hand is so pro big business and the rich that it is not even funny.
    I also seek out way, and so do other Americans....get a clue.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: Obama only paid a 26% income tax rate for 2010

    Quote Originally Posted by Serenity View Post
    this might be the first time I've ever heard a 'conservative' say that someone isn't paying enough in taxes, and it's happened on more than one occasion in this thread.

    hypocrisy is awesome.
    conservatives aren't for not paying taxes any more than we are against government. we are for reasonable taxes and a minimal government. there's a pretty solid difference.

    in the meantime, however, we are also in favor of Leadership. as the President insists that it is wrong of the wealthy to take these deductions, he might sort of - oh, i dunno - "set an example" by not taking them himself.

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