what is wrong with raising the personal exemption to $250k?

[fskimospy]

it's very hard to be a producer these days.

How would you know?

 

[Attic]

The problem is how much we are borrowing to ramp up that spending.

Yep. I figure there is an answer that works well in the current model of deficit spending and our monetary system. I'm 100% certain men charged with the task will fail.

Can't have men involved in a system that involves printing currency out of nothing and think it won't be abused and corrupted for the benefit of a few at the expense of the many. This is why it was setup in the first place i think.

 

[BUnit1701]

46% of the population pays no federal income tax. That means half of us have to pay all the federal expenses of those that don't.

Not quite. We pay interest on the massive loans which pay for all federal expenses.

 

[Anarchist420]

How would you know?

because i know what occupations are productive vs. which ones are twisting arms with the State.

 

[fskimospy]

because i know what occupations are productive vs. which ones are twisting arms with the State.

Can you list the productive occupations that you have had which give you this insight?

 

[Anarchist420]

Can you list the productive occupations that you have had which give you this insight?

you seem to forget that it doesnt require that much experience to have knowledge.

to answer your question, i guess the answer is no but i am not really 100% sure.

dont forget that being a pro-keynesian public policy analysis is destructive.

 

[networkman]

Everyone should have to pay taxes.

+1

 

[Brovane]

With our system we definately need taxes, but even those making 15k should put some skin in the game. I don't care if it's 1% or 1 dollar a month tbh.

So paying PayRoll taxes like Medi-Care and Social Security but not any income tax means you have no skin in the game?

 

[Engineer]

So paying PayRoll taxes like Medi-Care and Social Security but not any income tax means you have no skin in the game?

There are many people who get back more than they pay in for ALL federal taxes, both income and payroll, through EITC. Heck, they may get back more than they pay back in ALL taxes, period.

Of course, I could say the same with someone welfare too as they get back far more taxpayer money than they give in but that's another story.

 

[1prophet]

Please don't use logic, they think it's perfectly fine that GE got a tax refund and paid negative taxes, but someone making $15K a year should definately be paying...

Obama has no problem with GE, why do you:biggrin:

The Unholy Marriage Of GE And President Obama At The Altar Of Industrial Policy

http://www.forbes.com/sites/beltway...dent-obama-at-the-altar-of-industrial-policy/

The angry Left has been calling for President Obama to fire Jeffrey Immelt from his position as head of the President’s Council on Jobs and Competitiveness. I think that would be a good idea, but for different reasons.


Sen. Russ Feingold, Moveon.Org, and the regular scribes at the Huffington Post see the GE Chairman and CEO as unfit to advise the president because his company invests some of its resources abroad and, despite worldwide profits of $14.2 billion, paid no taxes in 2010. No illegalities are alleged, mind you; GE—like every other U.S. multinational—responds to incentives, including those resulting from tax policy and regulations concocted in Washington.

It's amazing how these profit only, don't have to pay tax ,multinational corporations run to the taxpayer funded US Supreme Court to make them equal to persons before the law and cry to the tax payer funded US Justice and legislatures to protect their corporate rights when they feel they are wronged,

but ask them to do for their country instead of always looking for the US to do for them, and the response is generally along the lines of profit only matters nothing else.

 

[Brovane]

There are many people who get back more than they pay in for ALL federal taxes, both income and payroll, through EITC. Heck, they may get back more than they pay back in ALL taxes, period.

Of course, I could say the same with someone welfare too as they get back far more taxpayer money than they give in but that's another story.

So really what use is it trying to make someone that makes $15k a year pay more in taxes than they get back in benefits?

 

[ElFenix]

It's now 43% and shrinking, not 47% any more. And those people pay taxes, just not the federal income tax. They pay sales taxes, payroll taxes, property (if they have any) taxes, etc.

I do tend to think that the EIC is out of control through and I've actually witnessed abuse of it but also understand that if removed, would those same people be more on the federal welfare doles and not work at all?

http://dmarron.com/2013/08/29/the-47-is-now-43-and-falling/

The reason that many don't pay federal income tax is that we have lowered our rates so much in an attempt to supplement falling wages that we finally went negative and beyond income taxes. Just the consequences of shipping our many of your solid paying middle class jobs. We wanted lower and lower rates and got them....now we bitch about it?

A breakdown of % of income earned vs % taxes (All) paid (looks to me like a pretty close 1 to 1 ration of % income vs % total taxes - about as flat as you're going to get it on ALL taxes paid).

taxes as a percentage of wealth would be far more interesting.