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Changing from Mitt to Newt
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mrgybe



Joined: 01 Jul 2008
Posts: 2444

PostPosted: Thu Feb 02, 2012 6:59 pm    Post subject: Reply with quote

All perfectly legal............but maybe a little hard to swallow for those he accuses of not paying their "fair share".


http://www.forbes.com/sites/greatspeculations/2011/08/17/how-buffett-saves-billions-on-his-tax-return/

http://www.forbes.com/sites/janetnovack/2011/10/12/warren-buffets-effective-federal-income-tax-rate-is-just-11/
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stevenbard



Joined: 11 Nov 1993
Posts: 3604

PostPosted: Thu Feb 02, 2012 10:52 pm    Post subject: Reply with quote

Does anybody wonder why all these guys who spent their entire lives making money give it away? Altruism has nothing to do with it. They continue to control the assets, and don't have to give it to the fools who run this government.

A flat tax takes this all away from the ultra wealthy. They then truely pay their fair share. (at least I hope they no longer will be able to control their gifts to themselves)
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DanWeiss



Joined: 24 Jun 2008
Posts: 1889
Location: Connecticut, USA

PostPosted: Thu Feb 02, 2012 11:40 pm    Post subject: Reply with quote

The merits of a progressive tax structure are sound, if not palatable to all. But to claim a flat tax is the best way to resolve a stymied tax role ignores all the presently available deductions and exceptions. Simply remove the deductions that I and many others employ, force each person to pay according to a progressive structure not terribly different than the basic model now, and we would be close to resolving the nation's revenue problem.

Flat tax is simplistic at best.

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pueno



Joined: 03 Mar 2007
Posts: 2349

PostPosted: Fri Feb 03, 2012 10:48 am    Post subject: Reply with quote

DanWeiss wrote:

Flat tax is simplistic at best.

And perhaps that's why it appeals to a certain segment of a certain discourse community.
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boggsman1



Joined: 24 Jun 2002
Posts: 3328
Location: at a computer

PostPosted: Fri Feb 03, 2012 10:57 am    Post subject: Reply with quote

pueno wrote:
DanWeiss wrote:

Flat tax is simplistic at best.

And perhaps that's why it appeals to a certain segment of a certain discourse community.

Speaking of taxes, US corporations paid 12.1% in taxes in 2011, the lowest level EVER!!! We already know that the rich pay around 18%, and cap gains are 15%. These are all very very very low levels of taxation. The poor dont pay any FED taxes, it seems the only people who pay taxes are the middle class. A flat tax will actually raise taxes on almost everyone.
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mrgybe



Joined: 01 Jul 2008
Posts: 2444

PostPosted: Fri Feb 03, 2012 12:16 pm    Post subject: Reply with quote

The average effective income tax rate for all Americans - 11%. The average affective rate for those making $1million plus - 25%

http://www.usatoday.com/money/perfi/taxes/story/2012-01-19/romney-tax-rate/52682372/1
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boggsman1



Joined: 24 Jun 2002
Posts: 3328
Location: at a computer

PostPosted: Fri Feb 03, 2012 12:22 pm    Post subject: Reply with quote

More low tax data, why do all the right wingers always complain about taxes when they are so low? Because cap gains, and carried interest is 15%, when you add it all up, people in the US pay low taxes.
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techno900



Joined: 28 Mar 2001
Posts: 1347

PostPosted: Fri Feb 03, 2012 12:46 pm    Post subject: Reply with quote

Boggsman said:
Quote:
More low tax data, why do all the right wingers always complain about taxes when they are so low? Because cap gains, and carried interest is 15%, when you add it all up, people in the US pay low taxes.


Again, I think you missed the point. At least from my perspective, right wingers don't complain about paying taxes, they complain about how the taxes are spent and wasted.

Yes, comparatively, we do pay low taxes, but that's because many of us (conservatives) don't want a socialistic government like the countries with high taxes.
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mac



Joined: 07 Mar 1999
Posts: 4650

PostPosted: Fri Feb 03, 2012 12:49 pm    Post subject: Reply with quote

flat tax, flat earth.
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boggsman1



Joined: 24 Jun 2002
Posts: 3328
Location: at a computer

PostPosted: Fri Feb 03, 2012 1:03 pm    Post subject: Reply with quote

techno900 wrote:
Boggsman said:
Quote:
More low tax data, why do all the right wingers always complain about taxes when they are so low? Because cap gains, and carried interest is 15%, when you add it all up, people in the US pay low taxes.


Again, I think you missed the point. At least from my perspective, right wingers don't complain about paying taxes, they complain about how the taxes are spent and wasted.

Yes, comparatively, we do pay low taxes, but that's because many of us (conservatives) don't want a socialistic government like the countries with high taxes.

Too late for that . We have Medicare, Social Security, Insurance, Emergency Rooms, a 20 TRILLION dollar Tax payer funded bailout.and many other parts of our GOVT that are "Socialism". Australia is much more "socialistic" than the Us and the quality of life there is excellent. Canada is also "socialistic", with higher taxes than US, and quality of life there is excellent.
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