Politics & Current Events
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Re: Obama paid higher tax rate than Romney
Huh. well maybe we both need new accountants.
WRT the bolded, that's fair. But, why don't we hear about getting more of the middle class and below to pay taxes that they aren't paying? Instead, the mantra is to stick it to the rich. At least *they* are paying something.
I think you know the answer to that 2V lol. What politician is going to talk about raising taxes on the middle class in an election year? The same way no one (or very few) is going to talk seriously about significant changes to SS, Medicare, military spending, etc.
Its politics and it's frustrating, especially when as I said (in my opinion) the answer is going to have to be multi-pronged, not just "raise the taxes on the rich."
2V-
I may need to hand in my liberal card... I think we need at least a skittle tax. Every American has to pay at least $10 to the federal gov't (that's a bag of skittles a month).
Then go to progressive taxes of nothing if you make less than 125% of the poverty rate, but then 10, 12.5, 15, 20, 25% tax brackets that would be semi flat tax... no deductions, no charitable, no mortgage etc, but lower overall rates
Above Us Only Sky
lol @ skittle tax.
The thing is..isn't it basically always an election year...for someone?
Maybe we should all just pack it in.
I'm with Mrs Becky - you need to be looking at raising tax revenues from both the middle class AND the 'rich' - but how you do campaign on raising taxes and actually win?
Perhaps there should simply be less available 'write off's or exemptions. At least that wouldn't be 'raising taxes' from a talking soundbyte during an election.
Sure, thats what's so frustrating and I don't disagree with your final sentence lol.
Anything you can achieve through hard work, you could also just buy.
The whole tax code is so messed up.
I think everyone should pay taxes of some sort - with the exception of those families with very low incomes. If they pay taxes or don't get a refund, they're just going to need assistance in another form (welfare, foodstamps, whatever) because it is darned near impossible to live off of many jobs in this country. I have no problem with someone making under 30k, even, in most areas paying no tax. I couldn't fathom living off of $1600 a month or whatever a 30k job pays.
I do think that there is no excuse for those in the 50-75k segment mentioned not to pay taxes. Maybe they need to rearrange their lifestyle or something if they can't live off of that. That's the income range I'm in, and I do pay taxes, so there's that.
I think the idea of a progressive tax code (if I'm using the right term) makes the most sense. Romney shouldn't be paying a lower rate than I am, but I should be paying a higher rate than someone making less than me and someone making more than me should pay more. Especially when your investments are doing most of your earning. I think income earned from actually working should be taxed less than income earned from picking the right investments or whatever.
And I had too much wine with dinner to back up my claim, so.... PI!
Anything you can achieve through hard work, you could also just buy.
Of course, both are 1 percenters, has anyone ever argued otherwise? But I doubt that Obama's 20% tax rate is lower than his secretary's rate - where do you get that one from?
how does anyone even know what his secretary (and who is his secretary? Doesn't he have more than one?) pays in taxes? I doubt his or her tax returns have been publicly released.
I agree with this, and my effective tax rate this year was -4.8%. And I filed exempt for the last couple months of the year. I don't see how that's really fair.
I also paid no income tax to the state, and my state is royally f*cked financially. But I pay for that at the back end as a public university student. No, the $129 I got back from the state does not make up for the classes I can't get into.
Oh, that is fantastic. This...this is wine. Yeah. Look what all these idiots are drinking. Look at these dicks! Obviously it's not really delicious, like hot chocolate or Coke, but for wine...brilliant.
Exactly. I am still angry over this revelation....for aarious reasons.....because it happens, because it doesn't look like anything is being done/will be done to fix it and because I didn't even know it was happening.
The government pays others for absolutely no reason, but it sits around and whines about the rich not paying enough. If it wasn't so pathetic it would be hilarious.
Exactly. I am still angry over this revelation....for aarious reasons.....because it happens, because it doesn't look like anything is being done/will be done to fix it and because I didn't even know it was happening.
The government pays others for absolutely no reason, but it sits around and whines about the rich not paying enough. If it wasn't so pathetic it would be hilarious.
The idea behind the EIC is to encourage people to work and help cover the expense of FICA which everyone pays on the 1st dollar earned up to 107k/yr.
However, I agree, you shouldn't be able to get back more than you paid, just carry the credits forward to the next year.
Our code is really screwed up, but if I were in charge of fixing a large number of Big 4 accountants and many enrolled agents would be unemployed.
Above Us Only Sky
Be careful, folks. A lot of you are sounding like... me.
Muahahahahaha!
No old people hate in this post yet :-)
Above Us Only Sky
Heh. Just wait.
But seriously, who needs fogey hate when more liberal folks are calling for a broadening of the tax base and reformation of the tax code to eliminate credits and deductions? {{swoon}}
2V - after finishing our taxes this year, H announced that we needed to have another child so as to reduce our taxes. LOL
Off on a tangent, but 2V, you may not be saving money in taxes by not having children, but you are saving money in every other conceivable way lol!
And I can be counted as another liberal who thinks the tax base should be broadened and credits etc should be removed - as long as its for everyone, rich and poor alike.
Oh, I know Reeve. This topic just got the b(i)tter of me. ;-)
But, of course. Liberals want the tax base broadened and elimination of loopholes. It means more for us to tax and spend, spend, spend! Bwahahahahahaaaaaa!
seriously, I could be a fiscal conservative if their plan to deal with the deficit didn't begin with "First we cut everyone's taxes..."
That would be fine plan for the day after we've gotten rid of our debts. Even then it should be preceded with "First we cut the budget and use realistic revenue projections that don't assume huge growth to ensure that our budget will not exceed our revenue"
But, of course. Liberals want the tax base broadened and elimination of loopholes. It means more for us to tax and spend, spend, spend! Bwahahahahahaaaaaa!
seriously, I could be a fiscal conservative if their plan to deal with the deficit didn't begin with "First we cut everyone's taxes..."
That would be fine plan for the day after we've gotten rid of our debts. Even then it should be preceded with "First we cut the budget and use realistic revenue projections that don't assume huge growth to ensure that our budget will not exceed our revenue"
I think we do hear it, quite a lot in fact. It seems the last year has been a running battle between the MSNBC wing with its "99% vs the 1%" angle while the Fox/Rush wing fought back with "I am the 53%", as in "You 99%ers are probably non-taxpaying bums but I pay taxes so I'm better than you".
2V I've been complaining about this for years. Yes it's annoying that there are millionaires who pay an extremely small percentage in taxes. But they get way too much of the spotlight. It's just the rich are an easier target.
My inlaws all get back more than they pay in taxes. They brag about it too and it annoys the shiit out of me. We don't have kids and we always, always have paid quite a bit into taxes. My inlaws would qualify as lower-middle to middle-middle class. They do all have several kids. I don't know if that is what gets them huge refunds or what. But it's definitely not a refund for overpaying. It's getting back more than they paid.
But Sandsonik I agree that first there needs to be talk of cutting spending, THEN we can cut taxes. I'd love to see an end to people getting back more than they've paid but I don't know that either candidate wants to go there.