9 Things The Rich Don't Want You To Know About Taxes

Discussion in 'Economics' started by Covertibility, Apr 14, 2011.

  1. 9 Things The Rich Don't Want You To Know About Taxes

    1.Poor Americans do pay taxes.
    2.The wealthiest Americans don’t carry the burden.
    3.In fact, the wealthy are paying less taxes.
    4.Many of the very richest pay no current income taxes at all.
    5.And (surprise!) since Reagan, only the wealthy have gained significant income.
    6.When it comes to corporations, the story is much the same—less taxes.
    7.Some corporate tax breaks destroy jobs.
    8.Republicans like taxes too.
    9.Other countries do it better.

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    A lot of data in the article, so post away even if you didn't read it, we know who you voted for.
     
  2. good post. thanks
     
  3. How the rich pay no taxes

    Eleven shelters, dodges, and rolls -- all perfectly legal -- used by America's wealthiest people.
    http://money.msn.com/taxes/latest.aspx?post=26d490bd-7317-4f93-8b43-e1da1151ea5f&GT1=33005

    For the well-off, this could be the best tax day since the early 1930s: Top tax rates on ordinary income, dividends, estates, and gifts will remain at or near historically low levels for at least the next two years. That's thanks in part to legislation passed in December 2010 by the 111th Congress and signed by President Barack Obama.



    "This is clearly far and away the most generous tax situation that's existed," says Gregory D. Singer, a national managing director of the wealth management group at AllianceBernstein (AB) in New York. "It's a once-in-a-lifetime opportunity."
     
  4. get rid of all tax loopholes and slap a 30% tax on everyone over the first 20k they make and you can link that 20k to inflation. bam! problem solved. rich can't avoid taxes through loopholes, poor don't get screwed on the money they need for simple cost of living. why is everyone so against this idea when it makes complete sense.
     
  5. Obviously you voted for the one who promised free candy to those who don't work or at best, work a few actual hours per week in a union-protected "job."

    This is mostly garbage, and has been refuted many times before. Yes, corporate welfare is bad, but so is welfare to entitlement junkies. You want to find fraud, waste and abuse, go to Medicare, SSI (anyone can be "disabled" and live on the dole if you hire the right lawyer or apply often enough), etc. This is another case of choosing selective data and brainwashing econ illiterates who wouldn't know a logical or statistical fallacy if it came to their door and delivered them food stamps.

    Whatever you and the useful idiots who post this stuff are, you're certainly not traders who know what it means to make and keep an honest dollar.
     
  6. +1
     
  7. richie90

    richie90

    +1


     
  8. Since tomorrow is April 15th, it is a good time to look at our corporate tax rates. As the graphic below shows, the change in corporate tax rates over the past half century is astounding.

    Corporate Taxes as a Percentage of Federal Revenue
    1955 . . . 27.3%
    2010 . . . 8.9%

    Corporate Taxes as a Percentage of GDP
    1955 . . . 4.3%
    2010 . . . 1.3%

    Individual Income/Payrolls as a Percentage of Federal Revenue
    1955 . . . 58.0%
    2010 . . . 81.5%
     
  9. You are utterly full "usefulness."
     
  10. That should've been "useless." OK, whatever.
     
    #10     Apr 14, 2011