‘Overtaxed’ Americans a politically useful myth

Doggone/GA

December 3rd, 2012
9:59 am

Personally, I would say it goes 5 times as far as the $50,000 *I* earn
++++++++++++++++

you would be incorrect.

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**You lost the tax argument when you lost the election.

Period.**

I second that motion…

if I remember correctly, I do believe that the right was all aflutter that the mid-term elections were a down-right uprising against the president and how everything that he stood for had been “refudiated” (my favorite palinism) …

if so, what does it mean when the president is reelected and the GOP loses seats in the house???

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The tax argument goes on because the GOP still controlls the house. Winning the presidency does not give the president control of the congress. We don’t have a parliamentery system here.
They will have to make a deal. Or go over the cliff.

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Welcome – you really are jealous aren’t you..

I never knew someone making $250k could buy political influence…is there a Christmas Sale or a GroupOn discount?

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I feel pretty sure if any of you ever put in the personal investment and work required to build a business that generates $250k in income for you, you would have a completely different outlook on whether or not people deserve to keep what they worked for.

You just keep treating them like the enemy, though, and they’ll keep doing what they need to do to run their business even if it means sending you to the house to keep from losing theirs.

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to TaxPayer
December 3rd, 2012
8:35 am
you need to think b4 you speak. 35% fed + 7.6%FICA + 7% sales tax + whatever state income tax … blah blah blah is way over 50%… so you need to work on your math skills

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“7% sales tax + whatever state income tax … blah blah blah is way over 50%”

unless you are spending 100% of your income, then you are not paying 7% of your income on sales tax, mathlete.

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whether or not people deserve to keep what they worked for.

________

That kind of an inflammatory statement. Nobody keeps everything they worked for.
All income is taxed. Question is how much.

Four per cent tax increase is the issue. Not whether one can keep everything they earned. Four per cent is not that big a deal.

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Fair share is a relative term. To be decided by Congress and the President.

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Well, I’d say that company that has 6 million lbs. of M6 artillery propellant is ready to resist any raising of taxes the Alien Muslim Radical Communist wants to put on them. They need a motto: “Raise our taxes and we’ll blow up this whole state.”

Anyhow, I ain’t worried about falling off of this Physical Cliff. I got my secret: Bubba McPherson, about the best tax preparer in this whole state. He gets me over 5,000 bucks back every year and he only charges $250 per page of tax return. Long as I can keep the tax return under 20 pages I’m bound to come out ahead.

Have a good Monday everybody.

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“you would be incorrect.”

Trust me on this, If *I* made $250,000 a year *I* could make it do 5 times what my current salary does

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“ok Miss semantics/half truth then we will play your game … if total “taxes” paid out to any flippin’ gov’t level – local, state, and fed add up to more than 50%…”

you call it semantics … I call it accuracy (and it speaks volumes that you don’t understand the difference)

again, dear … you’re not paying 50% of your income to taxes – particularly if you’re including sales tax and gas tax.

and, considering that 70% of GDP is driven by consumer spending, then EVERYone who buys something is a maker.

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USinUK
If you are a full time resident abroad for a full calendar year, or live there for 330 days out of any consecutive 12-month period, you can exclude up to $91,500 of earned income from U.S. Income Taxation for 2010. If you are married, and both of you earn income and reside abroad, you can also exclude up to another $91,500 of your spouse’s income from taxation.

http://www.globaltaxhelp.com/tax-basics/expat-tax-basics

now what were you saying about personal responsability?

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I’d say that the SONS OF CONFEDERATE VETERANS! overslept this morning.

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Does everybody remember that it is only anything OVER 250,000 that will be taxed at the higher rate?

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rb

Remember, the new tax rate would affect income after the 250k mark has been hit. If I were in that bracket, sorry it would not bother me a bit, but then I always was one to be optimistic, pay my taxes, and not be caught up in the material world…

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Does everybody remember that it is only anything OVER 250,000 that will be taxed at the higher rate?

______

Does not look like it. Reading the comments, you would think the proposal is to take 80 per cent of everything.

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why I should have to file in the US when I use no US resources.

you’re starting to sound Republican

because you are still a US citizen that’s why…you can always renounce your citizenship…

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Aren’t the taxes in the UK higher than the taxes in the US

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“after some three decades of such policies, we are shocked to find ourselves increasingly in debt?”

Nope.

And no one on this blog has ever outlined how to cut about 40% of our spending to balance the budget.

bookman parrot

‘you need to think b4 you speak. 35% fed ”

Who pays 35% of their income in fed income tax?

No one.

They pay 35% of earned income over $380K after deductions.
You really ought to be careful with the ‘idiot’ charges…

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http://www.latimes.com/business/la-fi-hy-november-auto-sales-20121202,0,4849712.story

Chrysler, Ford, General Motors, Nissan, Hyundai and Volkswagen on Monday all reported rising November auto sales.

It appeared to be the highest annual sales rate since February 2008, said Jesse Toprak, an analyst for auto information company TrueCar.com.

Clearly, what we should do now that Americans are beginning to feel confident enough to replace their older cars, and unemployment is just barely below 8%, is to start cutting the programs that scores of millions use, because if we don’t those Americans will start getting uppity.

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USinUK

You just need to tell bloggers here that you make $400K a year.

Then they’d be pushing for a tax cut for you and telling you it’s yours and you’re a job creator and you did it all on your own and it’s an injustice you have to pay both the Brit and American governments.

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“ok idiot 35% fed”

oh … and one more thing, dearest … before you start calling other people idiots and/or telling them to bone up on their math skillz, you might want to learn how marginal tax rates work.

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“You just need to tell bloggers here that you make $400K a year.”

no, but I did stay in a Holiday Inn … or some such.

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Who pays 35% of their income in fed income tax?

No one.

ooh oooh ooooh. Maybe “bookman parrot” has decided to lump in the FICA / Med and call those “federal income taxes” and came up with “35%”, even though we’re not supposed to because it’s not like the people who depend on those funds, or pay only those particular income taxes, are humans?

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By the way, ever thought about the fact that the one thing that can be said of ALL the posters on this forum with near absolute certainty is that none of them are part of the 1%?

Interesting to ponder and to remind ourselves every so often. It’s a fact that’s not without its effects in conditioning the discussions we can have here.

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anyone up for a little squeeeeeeeeee???

http://www.bbc.co.uk/news/science-environment-20572775

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“citizens of this country in almost every economic group pay a significantly smaller share of their income in taxes — state, local and federal — than they did 30 years ago.”

Thanks to Ronald Reagan and conservative voter resolve, and virtually no thanks to the Democrats. You want high taxes – move to California, New York, or Illinois. Leave us alone.

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While progressives attack the Bush tax cuts and President Barack Obama wants to let them expire for families making over $250,000, figures released by the IRS show the wealthiest 1% actually paid more in taxes after the Bush tax cuts were passed, and the bottom half of taxpayers actually paid less in income taxes.

According to IRS data, the “richest 1% paid $84 billion more in taxes in 2007 than they had in 2000,” a 23% increase. In addition, their “share of the overall income tax burden grew, climbing from 37% in 2000 to 40% in 2007.” All this occurred even though their rates went down.

The IRS numbers also found the bottom half of taxpayers “paid $6 billion less in income taxes in 2007 than they had seven years earlier,” which is a 16% decrease, and “their share of the total income tax burden actually went from 3.9% to 2.9%.”

Further, as Investors Business Daily noted, the Bush tax cuts also pushed millions of people off of the tax rolls entirely because Bush “doubled the per-child tax credit to $1,000 and lowered the bottom rate to 10%.”

But, don’t let the truth get in the way of your conservative bashing!

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“figures released by the IRS show the wealthiest 1% actually paid more in taxes after the Bush tax cuts were passed, and the bottom half of taxpayers actually paid less in income taxes. ”

Now post how much of the country’s wealth each group controlled during the same timeframe.

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In the 2009-10 tax year, more than 16,000 people declared an annual income of more than £1 million to HM Revenue and Customs. This number fell to just 6,000 after Gordon Brown introduced the new 50p top rate of income tax shortly before the last general election. It is believed that rich Britons moved abroad or took steps to avoid paying the new levy by reducing their taxable incomes.
Last night, Harriet Baldwin, the Conservative MP who uncovered the latest figures, said: “Labour’s ideological tax hike led to a tax cull of millionaires. Far from raising funds, it actually cost the UK £7 billion in lost tax revenue. “Labour now needs to admit that their policies resulted in millionaires paying less tax and come clean about whether they would reintroduce this failed policy if they were in power.” Mr Osborne argued earlier this year that the 50p rate was deterring entrepreneurs from coming to Britain.

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Down in Albany – 11:02 – “According to IRS data, the “richest 1% paid $84 billion more in taxes in 2007 than they had in 2000,” a 23% increase. In addition, their “share of the overall income tax burden grew, climbing from 37% in 2000 to 40% in 2007.” All this occurred even though their rates went down. ”

well DUH. If their investments WEREN’T doing better in 2007, before the recession hit, than they did in 2000, when we were in the middle of a recession, then they’d have to be the worst investors of all time.

sheesh.

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we should all pay the same tax rate thats fair

60% as told by Obama in his book Dreams Of My Father

then we can have universal single payer health care and have growth of 4-5% each year

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As Republicans do recall correctly, there are indeed two sides to the fiscal equation–taxes and spending. The equation is not where the problem lies. It’s with the Republican perversion of the equation. They cut taxes on one side of the equation and then increased spending on the other side of the equation and went about their business as though they had just done the country a great favor by doubling down on the dumb. Now the bills they generated from boths sides of the equation are mounting and they complain about the fact that they did it to themselves and have to pay for it. I have my trusty bag of ear plugs are ready, cons. Whine away as you pay.

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I love the siamese in the BBC clip. It looks totally put out by all of the attention paid to the cubs & pups.

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The gop are blowing the 14 election early.

Ain’t that the truth.

Gawd bless ‘em, but I have grown to love the rabid right wing…

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Good morning Bro’,

Wasn’t that an exciting game?

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RB — “I feel pretty sure if any of you ever put in the personal investment and work required to build a business that generates $250k in income for you, you would have a completely different outlook on whether or not people deserve to keep what they worked for.”

I feel pretty sure that you don’t know any of us well enough to be able to speak for us.

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Did ya hear, the Romneys are apparently down in the dumps after their electoral rejection?

Don’t ever let em tell you the super rich aren’t just like you and me.

/somthin

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Corbin

Yeah, it was one for the ages. Gotta tip my hat to Georgia for their performance.

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Corbin – LOVE that!!! love the pic of them all huddled on the deck, poor sweet things!

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Finally – the Prince and Princess are pregnant. I knew if the rags kept reporting it, one day it would be true! I have decided, there isn’t alot of people on the right side of the political fence that are really good in math. They can’t figure tax rates, nor are they good at adding votes. Poor things.

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“Nothing gets the libbies to salivating like Daniel Craig.”

there.

fixed yonder typo

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Nothing gets the cons whining like the prospect of paying their debt.

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Fiscal Cliff SHEETZ!

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Every con since November –

‘dang that pesky electorate, them “people,” that rabble.
they don’t know what they want. If the world just recognized my genius,’

Pinky & the Brain cons

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Obama doesn’t have a cut spending plan , he has a raise taxes plan, he is asking the repubs for their cut spending plan with specifics…sounds reasonable….

@ Bro: sounds to be reasonable to deduct some part of charitable giving….

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Sure they do but Grover and Rush haven’t told them yet

Either that, or those two haven’t issued out the testicular fortitude yet.

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It is a fantasy that Barack Obama wants to spare the middle class.

The top 1% earns 17% of the income and pays 37% of the taxes.

Top 5 pay 50%

Top 50% pay 95%. So 50% pay nothing. Mr Bookman never really tells us the whole truth.

Let’s take away every dollar from the hated rich (top1%) and it does nothing to pay down our National Debt and will run the government for 84 days.

The Fiscal Cliff is another “distraction” by this administration. The cliff is the 86 Trillion in unfunded liabilities for SS and Medicare.

The Obamacare taxes start in ernest this year. 2.3 % for medical device manufacturer’s, 20% reduction in Medicare payments to providers.

We are ALL going to have to pay and anyone who tells you different is LYING.

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