Obama's Millionaire Tax

Why do you get so caught up on the percentage? Buffet said today that he paid $7,000,000 in federal taxes last year. He's saying that he paid at 15% cap gains rate. If his poor old secretary paid 35% and made $100,000, her contribution to this financial black hole that you seem to love so much is $35,000. Do the math old buddy. She'll have to work for 200 years to equal what old Buffy paid in one (And that assumes perpetual present value of money).

If you believe in PEOPLE being treated as equal in this world as is possible, then we should contribute somewhat equal amounts to this government. The dream is based on your POTENTIAL in this country to make a pile of money. No start ups are guaranteed anything--just a chance. When your uncle takes that potential away, then there is no use in trying, and people don't invest.

I was watching Olberman talking to a guest the other night and within a span of 30 seconds, they were both bitching about those rich freakin corporations AND then they were bitching about there being no new manufacturing jobs. WTF?

I hope that one day you and your party will wake up and realize that when people, investors and corporations invest here and make some damn good profits here that we are a world better off that those profits being made by some government boss in the Peoples Republic of China. Did you know they buy more Lambos than we do?

 

http://www.taxfoundation.org/taxdata/show/250.html#Data
Some actual data for the discussion.

 

H8R, I don't necessarily disagree with your assessment however, even if we successfully get the wealthy's rates increased it still isn't a fair scenario where such a large portion of the population doesn't pay anything at all. Of course, as it is now, the middle class ends up paying the most in appearance but is that correct? I read where those making over a million or so ends up paying something like 80 or 90% of all income taxes. My figures may be off since it's been awhile since I read that but whatever it is doesn't seem fair to me.

Maybe a flat tax would be a better plan if everyone paid a flat 15% or so. No deductions allowed. Presently, according to the chart that I'm linking to the wealthy do in fact pay at a larger rate. It's all those pesky deductions that save most, especially the wealthy.


http://www.bargaineering.com/articles/federal-income-irs-tax-brackets.html

 

If there was a way to down size the size of the IRS and the costs that go with it, I'm all for it. Flat tax gives me that and I'll sing along.

 

Buffet pays corporate gains taxes. He probably doesn't even have an income. His asst. probably pays income taxes which is a higher tax rate. If Buffet paided income taxes I bet he'd be paying a shitload more than his asst.

 

I believe Buffet said his asst. paid a higher % of income tax then he did.

 

And...

Buffet doesn't have an "income" in the taxable sense of the word. "Income tax" is based on earnings. He takes profits and dividends. Hence, he pays a lower rate on capital gains, plus he saves that marvelous "payroll tax" Ponzi scheme fundraiser we lowly plebians get stuck with.

 

Does he pay his assistant more than a $100K?


I think you need to grow a brain of your own and stop believing everything you hear in the CONTEXT they want you to hear it in.

Do YOU know how much that hypocrite (WB) 'pays' himself?!?!?

Obviously, you do not otherwise it wouldn't take much brain power to understand why that handjob is paying so little. That billionaire who thoroughly enjoys sucking it up to Obama pays himself $100K/yr.

Nice eh?
The same asshole who wants EVERYONE else to pony up pays himself a skimpy $100K/yr, when his net worth is in the billions. "I think everyone ELSE needs to pony up!!!" Me? Eh not so much. ......what party always seems to be in lock step with that mindset btw?


Sheep, the whole lot of you.

 

Let's not get out of control here. Obama's net worth is somewhere around 10.5 million. I believe his Presidential salary is what?, $200,000.00? I think that's right.

Warren Buffet's estimated salary for the past five years is about 50 million. Last year he took 10 million as income from investments. His salary is based on the past years success or failure of all his investments. Overall, his take home pay is about 497th in the world. He's pretty much a cheapskate compared to his net worth.

 

I wonder if TTT Geithner is paying income tax this year? How much does that clown make printing money all day long?

 

Fixerated®

 

Cite, please.

OBTW, your autobiography is on The Family Channel tonight, 8pm Central

 

Not to mention that he still lives in his small old house, doesn't dress to the nines, and is basically pretty damn frugal.

But, because HIS common sense doesn't fall in the NO TAX FOR THE RICH JOB CREATORS, he's obviously a lefty, communist kook.

 

I seriously doubt you'll find any ink stains on his fingers.

 

The rich pay nearly all of the taxes. The more money you make, the higher percentage of that money you have to give to the government. It's a fact.

Let's say you made a lot of money from 2000-2010. You paid a lot of taxes on that money. Probably more than 50%.

In 2011, you choose to take some of your money and risk it by investing in a start-up company. The new company does well, and makes a lot of money. You then get to take your share of that money out of the company as a dividend payment, AKA "return on investment". The rate for dividends is around 15%

In summary: if you earn $1,000,000, the government lets you keep $500,000.

If you invest some of what they let you keep and it makes money, they take another 15%!

Who thinks this is fair??

The government and the media want you to think that rich and greedy are mutually exclusive, they are not.

There are thousands of wealthy CEOs who belong in jail. They belong there for being corrupt, not for being rich. The President and the media do not want you to make that distinction.

 

I agree its a big smoke screen to keep the focus off the real problem.WELFARE!!!!WTf
That needs some work I believe.
I'm not an economist or claim to know much about specifics,but for those who could shed some light on ,say,no income tax and up the sales tax accordingly.That way even the bloodsuckers pay their share.Just a thought.

 

http://www.nytimes.com/2011/08/15/opinion/stop-coddling-the-super-rich.html

I tend to believe this guy a lot more than any of you. Call me crazy...

 

This isn't about solutions, it's about getting re-elected. So he pisses off a couple hundred thousand people (those that make more than $1million) but be gains the support of the other 275 million people that don't make that money.

 

According to Buffy, they won't be pissed either. Apparently, they are just waiting on a little direction.

 

I want to know why we can't get the budget FIXED BEFORE we raise taxes? Then, you raise taxes and pay down our debt. Instead, all I hear is, "SPEND SPEND SPEND". It's f'ing pissing me off!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Of course, if you start an org and suggest such a crazy idea (ahem, Tea Party), those that want to SPEND SPEND SPEND try to make you out to be some crazy racist instead of facing the real issue. *sigh* Our country is over folks, we can never escape the future we're heading towards.