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Bushes Report Gross Income of $784,219

I don't think it's right that the rich can be taxed at the same rate as the poor.
 
Originally posted by: NightCrawler
How much does a person getting paid $40,000 a year pay in taxes ?
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It probably depends on too much to generalize.
 
I'd bet you would feel really pissed off if you were in the bracket when making that much. :rolls; I'm sure you would send an extra $100,000 in to the IRS as a way of saying "thanks."
 
Originally posted by: iamwiz82
I'd bet you would feel really pissed off if you were in the bracket when making that much. :rolls; I'm sure you would send an extra $100,000 in to the IRS as a way of saying "thanks."
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Huh?
 
Originally posted by: Eli
Originally posted by: iamwiz82
I'd bet you would feel really pissed off if you were in the bracket when making that much. :rolls; I'm sure you would send an extra $100,000 in to the IRS as a way of saying "thanks."
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Huh?
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He bitched that Bush only paid 26%. I bet if the OP only had to pay 26% in taxes he wouldn't be so pissy.
 
Originally posted by: iwantanewcomputer
the surplus under clinton was more because the economy was booming then which is not due to clinton, same as the recession is not do to bush.
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starting a war on iraq based on a bunch of lies certainly won't help the economy.
 
Originally posted by: iamwiz82
Originally posted by: Eli
Originally posted by: iamwiz82
I'd bet you would feel really pissed off if you were in the bracket when making that much. :rolls; I'm sure you would send an extra $100,000 in to the IRS as a way of saying "thanks."
Click to expand...
Huh?
Click to expand...

He bitched that Bush only paid 26%. I bet if the OP only had to pay 26% in taxes he wouldn't be so pissy.
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Isn't that kinda the point, though?

Is it right for someone that makes almost a million dollars in one year to pay 26%, and someone who makes 40,000 to pay 30%(or whatever)?

I don't really know how it all works though.. I am sure they thought of this when they came up with the tax system. 😛

What's more fair? Going by a set percentage, or "discriminating" and taking more from those who make more and less from those who make less?
 
Originally posted by: Eli
Originally posted by: iamwiz82
Originally posted by: Eli
Originally posted by: iamwiz82
I'd bet you would feel really pissed off if you were in the bracket when making that much. :rolls; I'm sure you would send an extra $100,000 in to the IRS as a way of saying "thanks."
Click to expand...
Huh?
Click to expand...

He bitched that Bush only paid 26%. I bet if the OP only had to pay 26% in taxes he wouldn't be so pissy.
Click to expand...
Isn't that kinda the point, though?

Is it right for someone that makes almost a million dollars in one year to pay 26%, and someone who makes 40,000 to pay 30%(or whatever)?

I don't really know how it all works though.. I am sure they thought of this when they came up with the tax system. 😛

What's more fair? Going by a set percentage, or "discriminating" and taking more from those who make more and less from those who make less?
Click to expand...

Yes, given that the person paying didn't cheat the system (which obviously he didn't) it is absolutely fair.

You can minimize your tax liability just as anyone else. It doesn't matter if you make $40k or $400k. Contribute to an IRA (if you made $40k, not $400k), Keogh fund if you're self-employed, find municipal funds that are deductible, etc. Worse would be if you made large investments that had losses, and that could be tax deductible as well.

That's really all there is to it.
 
Originally posted by: Eli
Originally posted by: iamwiz82
Originally posted by: Eli
Originally posted by: iamwiz82
I'd bet you would feel really pissed off if you were in the bracket when making that much. :rolls; I'm sure you would send an extra $100,000 in to the IRS as a way of saying "thanks."
Click to expand...
Huh?
Click to expand...

He bitched that Bush only paid 26%. I bet if the OP only had to pay 26% in taxes he wouldn't be so pissy.
Click to expand...
Isn't that kinda the point, though?

Is it right for someone that makes almost a million dollars in one year to pay 26%, and someone who makes 40,000 to pay 30%(or whatever)?

I don't really know how it all works though.. I am sure they thought of this when they came up with the tax system. 😛

What's more fair? Going by a set percentage, or "discriminating" and taking more from those who make more and less from those who make less?
Click to expand...

Thats because all politicians are rich upperclass bastards. Of course they dont want to fvck themselves out of too much money. Its the middle class that pays for everything and as far as the poor goes well I am poor (fam of 4 $5K total last year) we didnt have to pay any taxes but because we didnt make that much we didnt get that much tax credits either. If I made $11K last year we would of gotten them all but because we didnt the government said screw us stay even poorer you get NOTHING!!!!

 
Originally posted by: funboy42
Originally posted by: Eli
Originally posted by: iamwiz82
Originally posted by: Eli
Originally posted by: iamwiz82
I'd bet you would feel really pissed off if you were in the bracket when making that much. :rolls; I'm sure you would send an extra $100,000 in to the IRS as a way of saying "thanks."
Click to expand...
Huh?
Click to expand...

He bitched that Bush only paid 26%. I bet if the OP only had to pay 26% in taxes he wouldn't be so pissy.
Click to expand...
Isn't that kinda the point, though?

Is it right for someone that makes almost a million dollars in one year to pay 26%, and someone who makes 40,000 to pay 30%(or whatever)?

I don't really know how it all works though.. I am sure they thought of this when they came up with the tax system. 😛

What's more fair? Going by a set percentage, or "discriminating" and taking more from those who make more and less from those who make less?
Click to expand...

Thats because all politicians are rich upperclass bastards. Of course they dont want to fvck themselves out of too much money. Its the middle class that pays for everything and as far as the poor goes well I am poor (fam of 4 $5K total last year) we didnt have to pay any taxes but because we didnt make that much we didnt get that much tax credits either. If I made $11K last year we would of gotten them all but because we didnt the government said screw us stay even poorer you get NOTHING!!!!
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That mentality won't get you very far.
 
Originally posted by: Descartes

Yes, given that the person paying didn't cheat the system (which obviously he didn't) it is absolutely fair.

You can minimize your tax liability just as anyone else. It doesn't matter if you make $40k or $400k. Contribute to an IRA (if you made $40k, not $400k), Keogh fund if you're self-employed, find municipal funds that are deductible, etc. Worse would be if you made large investments that had losses, and that could be tax deductible as well.

That's really all there is to it.
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Wait, I don't agree with that at all. I don't automatically think it's fair because it's the current policy.

That was the whole premise of my question, "Is the system fair?" What would be more fair? Taking more from those who make more and less from those who make less, or taking a set percentage from everybody?
 
Originally posted by: Eli
Originally posted by: Descartes

Yes, given that the person paying didn't cheat the system (which obviously he didn't) it is absolutely fair.

You can minimize your tax liability just as anyone else. It doesn't matter if you make $40k or $400k. Contribute to an IRA (if you made $40k, not $400k), Keogh fund if you're self-employed, find municipal funds that are deductible, etc. Worse would be if you made large investments that had losses, and that could be tax deductible as well.

That's really all there is to it.
Click to expand...
Wait, I don't agree with that at all. I don't automatically think it's fair because it's the current policy.

That was the whole premise of my question, "Is the system fair?" What would be more fair? Taking more from those who make more and less from those who make less, or taking a set percentage from everybody?
Click to expand...

I was asserting that the current policy is fair.

Of course, fairness is far too much of a moral/philisophical question, and there are plenty of countries with economic systems to accommodate everyone.

If a set percentage was taken everyone would complain that the system helps the wealthy, and with the current system you have the lower-income people complain that the higher-income people have bigger tax breaks (which isn't necessarily true). If people took a little time to investigate ways to make their money work for them they'd realize how benevolent the system can really be.
 
Originally posted by: Descartes
Originally posted by: Eli
Originally posted by: Descartes

Yes, given that the person paying didn't cheat the system (which obviously he didn't) it is absolutely fair.

You can minimize your tax liability just as anyone else. It doesn't matter if you make $40k or $400k. Contribute to an IRA (if you made $40k, not $400k), Keogh fund if you're self-employed, find municipal funds that are deductible, etc. Worse would be if you made large investments that had losses, and that could be tax deductible as well.

That's really all there is to it.
Click to expand...
Wait, I don't agree with that at all. I don't automatically think it's fair because it's the current policy.

That was the whole premise of my question, "Is the system fair?" What would be more fair? Taking more from those who make more and less from those who make less, or taking a set percentage from everybody?
Click to expand...

I was asserting that the current policy is fair.

Of course, fairness is far too much of a moral/philisophical question, and there are plenty of countries with economic systems to accommodate everyone.

If a set percentage was taken everyone would complain that the system helps the wealthy, and with the current system you have the lower-income people complain that the higher-income people have bigger tax breaks (which isn't necessarily true). If people took a little time to investigate ways to make their money work for them they'd realize how benevolent the system can really be.
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Yeah, I see.
 
Originally posted by: Amused
Originally posted by: funboy42
Its the middle class that pays for everything
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Will this myth ever die?

http://www.taxfoundation.org/prtopincome.html

The top 1% of income earners in the US pay 33.71% of the taxes.

The top 5% pay 53.8% of the taxes.

The top 10% pay 65.72%

The wealthy in this country bear a vastly disproportionate burden of the taxes.
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Hmm.. Interesting. Thanks.
 
Originally posted by: iamwiz82
I'd bet you would feel really pissed off if you were in the bracket when making that much. :rolls; I'm sure you would send an extra $100,000 in to the IRS as a way of saying "thanks."
Click to expand...

If I made $800,000 a year I would gladly give 40% to the government if it meant balancing the budget and paying soldiers who fought in wars.

Sadly many live under the delusion that they will be rich one day and that will never occur.

90% of the people here will never make more then $100,000 a year so paying 40% would never be an issue for them.

This is why the rich get richer and the poor get screwed.

 
Not that much different from myself. Supposedly in the 25% tax bracket. After deduction, etc, the effective tax rate is at 17% according to TurboTax.
 
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