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GOP plan to extend tax cuts for rich adds $36 billion

TurtleDude said:
if the top 2% of tax payers weren't paying so much of the taxes they would not get such a big tax cut
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In 1962 the rich paid 91 percent tax. Now they're only paying 35 percent. That's a tax cut for the rich of 56 percent. All because they bribed congress and are still doing it today.

Don't cry for the idle rich who now have money to burn... Cry for the millions who work hard, get no breaks, and barely eke out a living.

ricksfolly
 
ricksfolly said:
In 1962 the rich paid 91 percent tax. Now they're only paying 35 percent. That's a tax cut for the rich of 56 percent. All because they bribed congress and are still doing it today.

Don't cry for the idle rich who now have money to burn... Cry for the millions who work hard, get no breaks, and barely eke out a living.

ricksfolly
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so what-

tell me Rick what did the rich pay in income taxes for the first 120 years of this nations existence

tell me Rick what good will come by telling most of the population that they don't have to pay any more taxes despite the deficit-only the top 2% will have to pay for an irresponsible government

tell me Rick what good will come from making the rich pay more

a) more jobs for those out of work?

b) less government irresponsibility

c) less class warfare

no Rick, the only good that comes is that dems can tell their minions that the evil rich will get stuck

right now the top 1% pay 40% of the income tax and make slightly less than 23% of the income. THe average tax rate on them is several percentage points higher than the next few percent

the bottom 50% pay an average tax rate of 3% which is 8 times lower than the top 1%

why don't people who want the rich to pay more stop pretending its good for the country (I have yet to see anything other than tax cuts won't help-we don't see tax hikes will help) and stop saying its fair because no one can claim that with a straight face

why don't you all just be honest and admit that you like income redistribution and the power dems get by pandering to class warfare


The Tax Foundation - Summary of Latest Federal Individual Income Tax Data
 
ricksfolly said:
In 1962 the rich paid 91 percent tax. Now they're only paying 35 percent. That's a tax cut for the rich of 56 percent. All because they bribed congress and are still doing it today.

Don't cry for the idle rich who now have money to burn... Cry for the millions who work hard, get no breaks, and barely eke out a living.

ricksfolly
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Right on! They bribe them. They get trade agreements that take jobs out of the US. Many of them profit from wars and the suffering and loss of American soldiers and families. They hide their money so they don't have to pay taxes.

They eff it up every time. National debt by U.S. presidential terms - Wikipedia, the free encyclopedia
 
Re: Dem vs Rep Tax Cut Plan in Graph form!

This chart nonsense is misleading because it does not take into consideration a number of factors that go along with keeping the tax rate low on those who create the jobs and start the businesses and spend the most in retail purchases that do have the dreaded trickle down effect.

The top few percent of money earners pay the vast majority of the taxes and those at the bottom pay little or nothing. Even the psychological effects on investors are effected by the prospect that taxes are not going up, it means there can be more and or fresh money available to be invested creating an atmosphere conducive to growth, and new jobs and that translates to high revenues coming into the treasury.

The one thing the Left never gets is the more you take away the less there is to use in a recovery and the whole dumb ass notion that you can spend you way out o debt with money you don't have for projects that don't work is crazy on it's face.
 
Magill said:
Right on! They bribe them. They get trade agreements that take jobs out of the US. Many of them profit from wars and the suffering and loss of American soldiers and families. They hide their money so they don't have to pay taxes.

They eff it up every time. National debt by U.S. presidential terms - Wikipedia, the free encyclopedia
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yeah its amazing the top 1% avoid taxes yet they still pay 40% of the income taxes and all the death taxes

how much of the FIT burden should they carry

your rant is pathetic
 
Re: Dem vs Rep Tax Cut Plan in Graph form!

Councilman said:
The one thing the Left never gets is the more you take away the less there is to use in a recovery and the whole dumb ass notion that you can spend you way out o debt with money you don't have for projects that don't work is crazy on it's face.
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Trickle down economics is a known failed policy. It has never worked...and yet...the Republicans keep wanting to try it.
 
Re: Dem vs Rep Tax Cut Plan in Graph form!

disneydude said:
Trickle down economics is a known failed policy. It has never worked...and yet...the Republicans keep wanting to try it.
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and jacking up the taxes of the few so that the many keep electing irresponsible spenders is gonna flush this country down the toilet. at least trickle down economics allows winners to win

its time to make those who want cradle to grave nanny state socialism to start paying for it rather than expecting 2% of the taxpayers to fund all of their cravings
 
Re: Dem vs Rep Tax Cut Plan in Graph form!

TurtleDude said:
and jacking up the taxes of the few so that the many keep electing irresponsible spenders is gonna flush this country down the toilet. at least trickle down economics allows winners to win

its time to make those who want cradle to grave nanny state socialism to start paying for it rather than expecting 2% of the taxpayers to fund all of their cravings
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And yet history has shown us that everytime a Republican gets in and promotes trickle down economics, they leave office with huge deficits....and leave the Democrats to come in and clean up their mess.
 
Re: Dem vs Rep Tax Cut Plan in Graph form!

disneydude said:
And yet history has shown us that everytime a Republican gets in and promotes trickle down economics, they leave office with huge deficits....and leave the Democrats to come in and clean up their mess.
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yeah Obama is doing a great job as did Carter

stop the nonsense-its so patently obvious that what you are saying has no basis in fact
 
Re: Dem vs Rep Tax Cut Plan in Graph form!

TurtleDude said:
yeah Obama is doing a great job as did Carter

stop the nonsense-its so patently obvious that what you are saying has no basis in fact
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Carter didn't leave us with half of the deficits that Reagan did....check your history.

As for Obama....the verdict is still out. If he doesn't do better, then he deserves criticism as well. GWB left us with a hell of a mess....I don't expect it to be turned around over night. You obviously are either oblivious to the mess that GWB left or refusing to acknowledge it. If Obama leaves as big of a mess...you can guarantee that I won't be covering for him.
 
Re: Dem vs Rep Tax Cut Plan in Graph form!

disneydude said:
Carter didn't leave us with half of the deficits that Reagan did....check your history.

As for Obama....the verdict is still out. If he doesn't do better, then he deserves criticism as well. GWB left us with a hell of a mess....I don't expect it to be turned around over night. You obviously are either oblivious to the mess that GWB left or refusing to acknowledge it. If Obama leaves as big of a mess...you can guarantee that I won't be covering for him.
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lets see-Bush recklessly spent money

so the dem solution is to spend trillions more

sounds like a great idea

and raising taxes only on the rich is going to create a house of cards that fails

the rich do not have a duty to pay for all the crap that the majority of voters allowed to happen
 
Re: Dem vs Rep Tax Cut Plan in Graph form!

TurtleDude said:
I am gone for the night but you need to learn the difference between effective rates and marginal rates

get back to me when you figure that out
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and then there is average tax rate....
Fool.com: Tax Rates: Marginal vs. Effective [Ask the Fool] December 19, 2001

Allowing the Bush Tax Cuts to expire is not a tax increase, it is the cessation of a tax gift to those who have the higher incomes.
Tax cuts NOW will not generate new jobs; no matter how much you beat that dead horse, it isn't going to get up.
What will generate jobs is more consumers, but without jobs, we have fewer consumers. Wall Street encouraged shipping jobs overseas, congress let them, the middle class is paying the price. Like you say, the poor don't pay taxes, so the middle class gets to pay for the rich getting richer.
The business world hates uncertainty, so they are holding back. Consumers are holding back as well, except for essentials that we all need, food and shelter, etc. Rich consumers, like you and me, COULD spend more. I certainly have in the last 3 years, and will continue doing so. I will never be listed in Forbes Magazine for being one of the really rich, but I can live without that. Money is meant to be in circulation to be most effective, and life is meant to be enjoyed as well, even if it means spending money..
Hoarding money just doesn't give me the thrill it does some people....
 
Re: Dem vs Rep Tax Cut Plan in Graph form!

TurtleDude said:
NExt year's tax will be the highest effective tax rate in US History.
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Of course it will, that's because when low wage earners are taken off the tax rolls, the effective rate will go up. That mathematics for you. :mrgreen:
 
TurtleDude said:
no Rick, the only good that comes is that dems can tell their minions that the evil rich will get stuck

right now the top 1% pay 40% of the income tax and make slightly less than 23% of the income. THe average tax rate on them is several percentage points higher than the next few percent

the bottom 50% pay an average tax rate of 3% which is 8 times lower than the top 1%

The Tax Foundation - Summary of Latest Federal Individual Income Tax Data
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According to the official budget report for 2008 in my 2010 world almanac, there are only two separate categories, individual and corporation income tax, nothing else. You're either making it all up, or have conflicting records.

It also says the max tax rate is 35 percent, 2 percent more than than the next lower level, nothing about the max tax being even lower after all the questionable shelters, and other legal tricks kick in, loop hole experts only the rich can afford.

ricksfolly
 
ricksfolly said:
According to the official budget report for 2008 in my 2010 world almanac, there are only two separate categories, individual and corporation income tax, nothing else. You're either making it all up, or have conflicting records.

It also says the max tax rate is 35 percent, 2 percent more than than the next lower level, nothing about the max tax being even lower after all the questionable shelters, and other legal tricks kick in, loop hole experts only the rich can afford.

ricksfolly
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you obviously missed the obvious point

the top 1% pay much more tax than their fair share and the rate at which they are taxed is higher than any other group.

so with all those loopholes the envious and spiteful haters of the wealthy whine about, the rich still pay way too much tax while those in the whining classes pay too little

what are these loopholes you talk about? do you labour under the delusions that the majority of the top 1%-those making in the 400K to about a million a year have the big loopholes that you think exist for guys like Gates and Buffett
 
TurtleDude said:
the top 1% pay much more tax than their fair share and the rate at which they are taxed is higher than any other group.
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How do you determine that the top 1% are taxed more than their fair share?
 
pbrauer said:
How do you determine that the top 1% are taxed more than their fair share?
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well geez the top 1% don't use 40% of the services paid for by income taxes or ALL the stuff paid for by the death confiscation taxes

they make 22% of the income and pay 40% of the income tax

now the most obvious definition of fair is paying for what you use

on that paradigm the Rich are overtaxed

the second would be that each person keeps the same amount of the next dollar they earn--again the top 1% face the highest average tax rate

so those are two rather objective definitions of a subjective concept
 
TurtleDude said:
well geez the top 1% don't use 40% of the services paid for by income taxes or ALL the stuff paid for by the death confiscation taxes

they make 22% of the income and pay 40% of the income tax

now the most obvious definition of fair is paying for what you use

on that paradigm the Rich are overtaxed

the second would be that each person keeps the same amount of the next dollar they earn--again the top 1% face the highest average tax rate

so those are two rather objective definitions of a subjective concept
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The rich are NOT overtaxed. That's rhetoric bull****. Republicans want to tell those lies because they do not want to be taxed because they believe they are above taxation, the law, and middle class America.

They are not... as such they can go **** themselves.
 
Vader said:
The rich are NOT overtaxed. That's rhetoric bull****. Republicans want to tell those lies because they do not want to be taxed because they believe they are above taxation, the law, and middle class America.

They are not... as such they can go **** themselves.
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Fair enough if you do not think they pay enough. What would you consider to be enough total taxes as a percent of their income.
 
TurtleDude said:
well geez the top 1% don't use 40% of the services paid for by income taxes or ALL the stuff paid for by the death confiscation taxes

they make 22% of the income and pay 40% of the income tax

now the most obvious definition of fair is paying for what you use

on that paradigm the Rich are overtaxed

the second would be that each person keeps the same amount of the next dollar they earn--again the top 1% face the highest average tax rate

so those are two rather objective definitions of a subjective concept
Click to expand...

All those numbers you cite are based upon AGI (Adjusted Gross Income), so they don't actually show how much these people actually earn.
 
Vader said:
The rich are NOT overtaxed. That's rhetoric bull****. Republicans want to tell those lies because they do not want to be taxed because they believe they are above taxation, the law, and middle class America.

They are not... as such they can go **** themselves.
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you are making stuff up again. I want some evidence to your claims
 
pbrauer said:
All those numbers you cite are based upon AGI (Adjusted Gross Income), so they don't actually show how much these people actually earn.
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find some other numbers that suggest otherwise

do you admit or deny that the top 1% pay far more income tax than any other group

do you admit or deny that the top 10% of the tax payers pay more than half the income taxes

do you admit or deny that the top 1% pay almost all or all of the death tax (which is what the death tax advocates have been saying)

do you admit or deny that the top 1% do not use as much in services funded by the income tax as they pay
 
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