View Poll Results: Do the Rich Pay Their Fair Share?

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  • Yes

    82 45.30%
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Thread: Do the Rich Pay Their Fair Share of Taxes in the United States?

  1. #721
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    Re: Do the Rich Pay Their Fair Share of Taxes in the United States?

    Quote Originally Posted by haymarket View Post
    Again, I must insist that when you assign my views to me and tell the world what it is that I believe, please do me the small courtesy of providing those views for us in the form of my quotes and the posts you are linking to. I hope that courtesy is not too much to ask of you.
    Quote taken from YOUR post #658 on this thread:

    "But I am saying that in addition to that reality, I would support all Americans who earn dollar one to pay 5% federal income tax on that. And I would raise ALL tax brackets by 5 points each. In addition I would treat all income the same and get rid of the favorable discriminatory rates for things like capital gains and inheritance. Just tax it as income according to the applicable schedule"

    Do I need to refresh you memory further, or can you figure it out on your own?
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

  2. #722
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    Re: Do the Rich Pay Their Fair Share of Taxes in the United States?

    Quote Originally Posted by MoSurveyor View Post
    As far as I know there is still a $250k ($500k joint) exclusion for the primary residence and everyone gets this including the rich. How many middle class couples do you know who will see $500k out of the sale of their home??? LOL!
    Thank you, I stand corrected, as I had not sold a home since before the 1997 tax law changes, prior to that it was a ONE TIME exclusion of up to $125K, ONLY allowed for those age 55 or older, allowing for the untaxed proceeds of that asset to help in retirement.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

  3. #723
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    Re: Do the Rich Pay Their Fair Share of Taxes in the United States?

    Quote Originally Posted by ttwtt78640 View Post
    In your "fair" plan will only "the rich" pay a higher rate on capital gains/dividend income? If the "common man" sells their home it may well generate a CG of six figures, especially considering a lifetime of accumulated prior CG "rollovers" are likely to be involved.

    the only consistency you will get from several of the tax hike fans on this forum is that they support any and all schemes, ploys or machinations that will cause the rich to be taxed even more

  4. #724
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    Re: Do the Rich Pay Their Fair Share of Taxes in the United States?

    Quote Originally Posted by Republic Now! View Post
    Err, the logic of long term capital gains getting a lower rate has nothing to do with the effort put into obtaining the income and everything to do with incentivizing investment.

    What exactly is unfair about the methods in which long term capital gains are taxed?
    I do not feel I should subsidize the gambling of anyone else. Why would you?
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  5. #725
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    Re: Do the Rich Pay Their Fair Share of Taxes in the United States?

    Quote Originally Posted by ttwtt78640 View Post
    Quote taken from YOUR post #658 on this thread:

    "But I am saying that in addition to that reality, I would support all Americans who earn dollar one to pay 5% federal income tax on that. And I would raise ALL tax brackets by 5 points each. In addition I would treat all income the same and get rid of the favorable discriminatory rates for things like capital gains and inheritance. Just tax it as income according to the applicable schedule"
    Okay. That is my position. And what does that have to do with what you claimed I believed?

    now explain why ANY differences in taxation should result from two citizens making the SAME pay. What IS a "fair" a taxation policy? You seem to "zoom in" on ONLY the "uber rich" and can not justify why two citzens, both making EXACTLY $50K, should NOT pay EXACTLY the same amount to IRS. Some tax "breaks" you deem "fair", while others you do not; what makes YOU the decider of what is "fair" or should be gov't "social policy" included in the tax code?
    What you quoted me saying and what you claimed I believed are not the same.
    Last edited by haymarket; 06-17-12 at 10:41 PM.
    __________________________________________________ _
    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

  6. #726
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    Re: Do the Rich Pay Their Fair Share of Taxes in the United States?

    Quote Originally Posted by haymarket View Post
    I do not feel I should subsidize the gambling of anyone else. Why would you?
    there we have it-investing is no different than feeding money into a slot machine

    when one has that sort of "understanding" about investment capital, its no wonder one would have such a disdain of investment and the good it does

  7. #727
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    Re: Do the Rich Pay Their Fair Share of Taxes in the United States?

    Quote Originally Posted by haymarket View Post
    I do not feel I should subsidize the gambling of anyone else. Why would you?
    Well, if you use a ridiculous hyperbolic phrase to describe it, then sure it sounds silly. Of course, just about anything can be dismissed that way.

    A better statement would be that we're incentivizing investment in the US economy, which is more accurate as opposed to "subsidizing gambling," since the only real similarity between investment and gambling is the risk.
    Last edited by Republic Now!; 06-17-12 at 10:44 PM.
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  8. #728
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    Re: Do the Rich Pay Their Fair Share of Taxes in the United States?

    Quote Originally Posted by Republic Now! View Post
    They are capital gains taxes. They are taxed at a lower rate than other forms of income. It's also important to point out that these low tax rates only apply to long-term investments.
    Yep, those who's income comes primarily from investments (like Romney), pay a lower total tax rate on their income than the working class who have to pay full taxes on all their income.

    I agree with Reagan, they should be taxed at the same rate as earned income.



    "For two years, thanks to Republican icon Ronald Reagan, capital gains and earned income were treated equally."

    "As Citizens for Tax Justice has noted, Reagan’s tax increase did not cause investment to fall, as many anti-tax ideologues had predicted."

    FLASHBACK: Reagan Raised Capital Gains Taxes To The Same Level As Wage Taxes For First Time | ThinkProgress
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  9. #729
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    Re: Do the Rich Pay Their Fair Share of Taxes in the United States?

    Its funny watching welfare socialists slurp Reagan without understanding the whole package.

  10. #730
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    Re: Do the Rich Pay Their Fair Share of Taxes in the United States?

    Quote Originally Posted by TurtleDude View Post
    there we have it-investing is no different than feeding money into a slot machine

    when one has that sort of "understanding" about investment capital, its no wonder one would have such a disdain of investment and the good it does
    SIX can be three plus three.
    SIX can be eight minus two.
    SIX can the four plus two.
    SIX can be twelve divided by two.

    Its still six no matter how you do the math.

    And its still risk and you are asking me to subsidize it regardless if it is investing in stocks or rollin the dice at Vegas. Risk is risk is risk. No taxpayer should have to subsidize it for another.
    __________________________________________________ _
    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

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