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Thread: What purpose did the tax cut for the wealthiest serve?

  1. #71
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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by Catawba View Post
    As with most of the working class, I pay a higher percentage of my total income than do the top 1% of income earners. As more and more of the working class are being forced into poverty, the closer we get to the point we did after the 1920's, when the working class said enough and supported a progressive tax system. I am willing to bet we see this reflected in the November election.
    sorry that claim has no support--the two page union funded talking points that claim that had no verifiable data supporting it

    the top one -4percent is the only group that is paying more of the income tax burden than their share of the income. 60% or so of the taxpayers pay less federal taxes than they receive in federal benefits.



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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by Иосиф Сталин View Post
    Sorry, I did this the wrong way.

    I'll be posting it right. Just give me a sec.
    As oppsed to tax cuts for ALL Americans? As opposed to allowing those that have earned their income keep more of their income? As in...here we go again...another thread about the evil rich by the whiny poor that dont think it is fair that the rich dont pay even MORE of the poors 'fair share'?

    Weve heard from liberal democrats who have explained that the primary reason the weatlhy folk are sitting on their wallets is that the Obama policies have devasted investment into the private sector. Ask Steve Wynn. Perhaps if there wasnt such uncertainty as to what the government was planning on doing with the resources they HAD there wouldnt be such a hesitancy to invest. Or do you think that traditionally the wealthy folk in this country just stuff their gold under their mattresses and dont invest to help their income grow? Tax cuts ARENT working because most people are uncertain. People arent spending.

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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by Catawba View Post
    So, it is your claim that the working class is not pulling their load.
    Anyone that does not pay federal income tax is 'not pulling their load'.

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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by Catawba View Post
    As with most of the working class, I pay a higher percentage of my total income than do the top 1% of income earners.
    Doubtful.
    If you're paying more than 4-5% of your gross in Federal income tax, you're doing something wrong.

  5. #75
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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by TurtleDude View Post
    sorry that claim has no support--the two page union funded talking points that claim that had no verifiable data supporting it

    the top one -4percent is the only group that is paying more of the income tax burden than their share of the income. 60% or so of the taxpayers pay less federal taxes than they receive in federal benefits.
    A bull**** claim that you have never once backed up.
    Last edited by Catawba; 08-12-11 at 02:19 PM.
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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by Councilman View Post
    First off the liberals are trying to create a them and us situtation not based in reality.
    No, the working class is being dumped on while the rich are making record profits, and you think the rich are the ones that need to continue getting tax cuts.

    Next:

    That means they are paying more than their fair share. Obama is trying to get riots under way here do he can declare Marchall, play Dictator
    Declare "Marchall?" Congress would be carrying out the will of the people they represent, as a majority of the country agree that it is time to end the tax cuts for the wealthy.

    No need to declare "Marchall" to get that done.
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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by Catawba View Post
    No, the working class is being dumped on while the rich are making record profits, and you think the rich are the ones that need to continue getting tax cuts.
    Better ask The Obama about that, given that He forced the Democrats to extend those cuts.

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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by PzKfW IVe View Post
    Anyone that does not pay federal income tax is 'not pulling their load'.
    If you are speaking of the rich that pay no federal income tax, I agree. If some lower middle class and the poor are paying no federal income tax it is because their load is already too big as a percentage of their income. Thanks to trickle down economics, which ain't been trickling down, 1 in 7 Americans are now poor. How do you tax poor people more to pay trillions for unfunded wars?
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by PzKfW IVe View Post
    Doubtful.
    If you're paying more than 4-5% of your gross in Federal income tax, you're doing something wrong.
    Billionaires' guide to U.S. taxes shows Top 400 pay lower rates than you

    “This is clearly far and away the most generous tax situation thatīs existed,” says Gregory D. Singer, a national managing director of the wealth management group at Alliance- Bernstein LP in New York. “Itīs a once-in-a-lifetime opportunity.”

    The 400 U.S. taxpayers with the highest adjusted gross income paid income taxes at an actual, or “effective,” rate of just under 17 percent in 2007, down from almost 30 percent in 1995, according to the Internal Revenue Service. The effective rate for the 1.4 million people in the top 1 percent of taxpayers dropped to 23 percent in percent the year before. That means the top 400 pay a lower rate than the next 1,399,600 or so, Bloomberg Businessweek reports in its April 11 issue.

    Much of the top 400īs income is from dividends and capital gains, generated by everything from appreciated real estate to stocks and the sale of family businesses. As Warren Buffett has said, since most of his income is from dividends, his tax rate is less than that of the people who clean his office."


    Read more: Billionaires' guide to U.S. taxes shows Top 400 pay lower rates than you - Personal Finance - MiamiHerald.com
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: What purpose did the tax cut for the wealthiest serve?

    Quote Originally Posted by Catawba View Post
    If you are speaking of the rich that pay no federal income tax, I agree.
    Out of the >300,000,000 people in the US, mow many of them qualifty as "rich" and then pay $0 in federal income taxes?

    If some lower middle class and the poor are paying no federal income tax it is because their load is already too big as a percentage of their income.
    It doesnt matter -why- someone isn't pulling their load - the fact that they are -not- pulling their load remains.
    If you believe that people living here have a responsibility to contribute - contextually, to pay federal income tax - to society so that they may reap the benefits of same, then that responsibility exists regardless of how hard it might be to contribute.

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