Ok Taxing the rich raises its ugly head yet again

[mrcheerful]

with the pukebots. Whats the truth behind the rich pay 50% of the taxes BS anyhow?

[thunder rising]

1. They rake in all the money ... too bad. forget the Freepers, they really don't count.

Do not fear the 29%. Even Hitler had 29% when it was over.

[JerseygirlCT]

2. Well, when you make most of the money

the aggregate amount of taxes would be high. I don't have the figures, but it makes sense.

The thing is, the percentage per person is probably stil lower than your average worker. It's just that 28% of gazillions is higher than 28% of $45,000. Does that make sense?

[Captain Hilts]

3. The top 10% has something like 90% of all wealth. Good deal for them! nt

[EvolveOrConvolve]

4. And many have very little "earned" income

Their income is from investment portfolios, trusts, etc. that can be structured in such a way that they pay as little tax as possible. They also don't pay into Social Security or Medicare unless they have some sort of salaried position, but even then only the first $70K or so is subject to the SS or FICA taxes.

[Captain Hilts]

6. I didn't have room to make that point! Tax code has shifted to favor investors over workers. nt

[EvolveOrConvolve]

8. Yep - and don't even bring up the so called "death tax"

Why should a lower middle class family pay more taxes on their earned income than some spoiled rich brat who inherits 5 million bucks that he/she didn't work for?

[Captain Hilts]

9. @#*! nt

[EvolveOrConvolve]

10. Exactly!

[mrreowwr_kittty]

11. I can't tell you how many times I've had to explain that to people

The GOP has them convinced that Uncle Sam is going to take half the $50K they want to leave to their grandkids.

:banghead:

[Canuckistanian]

13. Right! The rich pay so many taxes "in theory"

There are SO many dodges, sheltering, deferring and outright avoidance of paying taxes.

I WISH I had an accountant on my "staff" who could tell me how to avoid the taxman wherever possible.

The "Death and Taxes" expression only applies to the lower middle-class and below.

The rich have pretty much figured out how to avoid the "Tax" part.

[SoCalDem]

5. the "happiest people on earth", the Danes pay 50% in taxes

BUT..

They have FREE health care
They have FREE elder care
They have 100% PAID maternity/paternity leave
They have 6 weeks paid vacation
They have housing subsidies
They have FREE child care
They PAY students to go to college *for as long as they want

So they 50% they are left with is pretty much theirs to blow on fun things.. Not a bad trade..

We end up spending 115% of what we make and end up owing 30% interest on it , years after we wear it, eat it, drive it..

and stress ourselves to death worrying about how to pay if we get sick.

[mrreowwr_kittty]

7. OMG there was stupid as crap LTTE in my local rag today about that very thing

Some poor dumb plebe was repeating the spin verbatim. Then she added that the rich create all the jobs so we working slobs should fall down in gratitude for that. :banghead:

[mrcheerful]

12. Yeah funny thing about nit witts is they can't seem to grasp

that every tax dollar given to the rich comes out of their pay checks. Either in taxes or higher costs of services and loans.

[mrreowwr_kittty]

14. And it's just as easy to reverse her argument about jobs

Without workers, there'd be no rich people.

[mrcheerful]

19. Not this nit witt she believes business can survive without

customers, In fact she insists that seeings as she runs a water drilling business she will always have customers no matter how hard things get in michigan. Of course the same nit witt has it all planned out that when she retires she can use her off shore money to live the high life in El Salvador. If you ever have the mis fortune to run into a republican from Midland Michigan, run, these are the same people who insist living on toxic waste land makes them stronger.

[mrreowwr_kittty]

20. And global warming will be great because there will be more beachfront property!

Of course, Jeebus is coming back soon to rapture all the good Republicans anyway.

[Lydia Leftcoast]

17. To such people, I suggest a thought experiment

On day one, all the executives and board members fail to show up at your company. Everyone else comes in.

On day two, the executives and board members show up, but all the rank-and-file employees--clerical, IT, food service, cleaning, mail room-- stay home.

On which day does the company get more work done?

[mrreowwr_kittty]

18. Great exercise!

:thumbsup:

[Lydia Leftcoast]

15. The Republicanites also lie and say that corporate income taxes harm businesses

A corporation pays taxes only on its PROFITS, not on its income. In other words, it gets to subtract all the costs of doing business, so that hiring more employees or opening a new plant actually REDUCES its taxes.

Many years ago, I heard someone on NPR talking about Japanese corporations and why they plowed so much money into R&D. The speaker's explanation was that corporate income taxes in Japan (at least at that time, the mid 1980s) were so high that there was no incentive to show a profit. The companies therefore put any extra money they had into R&D, which made the money tax-exempt.

A corporation that isn't making any money doesn't have to pay any income taxes. Taxes alone will not kill it, despite what the Republicanites would have you believe.

[Xenotime]

16. The rich have learned how to bitch and moan so they don't have to be taxed.

[dothan29]

21. ON taxes I agree with Ron Paul

Get rid of the death tax, the payroll tax, the income tax, and the tax on pensions. Do that, sure youd have to cut the heck out of spending, but only for 18 to 24 months, as we would be in line with Dubai (they are tax free) in having the 2nd most attractive tax environment in the word, thus leading to TRILLIONS of new foreign investments in the U.S., thus raising billions in tariffs, user fees, and such.

[kath]

22. It's not "the death tax", dang it - it's the ESTATE tax, and it only applies to very large estates.

Don't fall into the trap of using Repuke language.