When we talk about Tax charged by government on Income of any individual or any company, I would like to prefer Singapore in whole world due to their policy of Tax.
Obama to Propose Buffet Tax on Monday
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Okay, my mistake. I inferred from this part of your statement:
that you meant money would be going where it shouldn't be. That spells corruption to me. Your argument was unclear.
If such a system were to pass, what makes you think that tax revenues would be allocated based off of what consumers purchased, or that we would have any more say into what programs they were used to fund than the current code?
Also, to anyone: on what are the Democrats basing the argument that the super-rich pay less taxes than the middle-class? Is it that their income is often shifted into investments and they are speaking about the lower capital gains tax or something else?
Yes, they are basing this off the assumption that most millionaires pay a lower taxe rate because most of their income is taxed as capital gains... which simply isn't true:
236,000 = Total Returns for Income > $1 million a year
.6% = # of returns that paid no income tax
9% = # of returns that paid 15% tax (capital gains)
90% = Paid 29% tax on average.
Basically, Obama is basing his argument on a tax loophole that only 9% of top earners benefit from. Yet, he wants to raise taxes on 100% of top earners.
It's too easy to avoid paying taxes, that's why it doesn't matter how much the taxable income percentage is raised, as long as you can take corporate money offshore or implement a thousand other tricks to not directly get paid the right amount.
On a site note, the roots of the USA economic/cultural decline does not rely on taxes.
On a site note, the roots of the USA economic/cultural decline does not rely on taxes.
Totally agree.
Close loop holes. Lower taxes for corps to the point that it becomes unprofitable to avoid them.
When someone says "loophole" they assume the gov't owns all your income. Being allowed to keep your income is not a loophole. Parasite!
Another thing. There should be no taxes on corporations. That money eventually goes to shareholders and they're already taxed. No point in taxing the corporation and then taxing the shareholders.
seriously?
Bon Jovi gets tax breaks because he keeps bees on his land. Springsteen gets Farm Aid for hiring an organic farmer to work a portion of his land. The top Billionaires in the world (as Buffet points out) only pay around 18%, while any average income person is paying twice that, including his secretary.
Oil companies get subsidies, as well as hundreds of other major industries that just don't need it.
Sophisticated people and companies get out of paying taxes.
I don't agree at all with taxing people more just because they make more money. Progressive taxation is socialist. I think people lose sight of the fact that we pay taxes for gov't services. Why should someone who makes a few million pay more in taxes than someone who makes $30k? Do they use more gov't services? Unlikely. They have their own doctors. They don't use food stamps. Frequently, they provide their own security. It's less than evident why they should pay more just because they're wealthy. That's discrimination. Plain and simple.
The 50% or so of Americans who pay no income tax are the ones not paying their "fair share". They are the leaches. They use gov't food stamps, gov't housing, gov't medical care, etc.
All you tax the rich fucks think the government exists to act like the Mafia and give to the parasites. They just bud into our business and declare they're owed their "fair share." There should be a cap on how much taxes one has to pay. I don't see why anyone should pay more than $5k or so in federal taxes. That's $400 or so a month and should pay for the courts and defense.
You're the kind of soft-commie moron that has no idea what harm his good intentions can bring. ncmedia explained this best up at the top of this thread:
http://www.wickedfire.com/1455424-post9.html
Read that post and then tell us all how making buffet pay the same percentage in taxes as his secretary is still the right/best/sane thing to do.
And you want to penalize them more than poor people because they have worked harder to earn that level of sophistication?
Cave man.
[ame="http://www.youtube.com/watch?v=G9mY1qotOE8&list=UUun4tg1BecN4PuxwZ6mL3NA&index=1&feature=plcp"]Harry Reid: "Next Question" - YouTube[/ame]
TWS: Leader Reid, when it comes to the Bush tax cuts...why didn't Senate Democrats push through this bill back when you controlled the Senate, the House, and the presidency?
REID: The tax cuts weren't about to expire then. So that's why we're doing it now.
TWS: You could have foreseen this issue two years ago.
REPORTER: What are you talking about? They expired at the end of 2010.
REID: And that's why they were extended one year.
TWS: Why didn't they vote when you could have pushed this bill through and had it signed into law?
REID: Next question
TWS: Leader Reid, when it comes to the Bush tax cuts...why didn't Senate Democrats push through this bill back when you controlled the Senate, the House, and the presidency?
REID: The tax cuts weren't about to expire then. So that's why we're doing it now.
TWS: You could have foreseen this issue two years ago.
REPORTER: What are you talking about? They expired at the end of 2010.
REID: And that's why they were extended one year.
TWS: Why didn't they vote when you could have pushed this bill through and had it signed into law?
REID: Next question
When they loaned out the 1st dollar at 1% interest ... where did that 1% come from?
Any amount of taxation or theft cannot get the system to break even because the denominator is zero.
It is a "solution" and already happening.
Google up "financial repression".
Financial repression - Wikipedia, the free encyclopedia
Very nice to observe in Germany right now. LIBOR scandal anyone ?
The government doesn't have its OWN money. That's our money.
You say that like we owe them a thanks for taking our money and spending it freely.
Percent does not equal dollars.
Can you tell me what 18% of 1 billion dollars is?
Can you tell me what 18% of zero dollars is?
You can also just have an extra kid (for the deduction), and take advantage of the system that way.
Don't think that "loopholes" are just for the "rich".