Moonglow
Diamond Member
tax avoision, is a way of life. Just ask the rich.
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
Bull pucky.So, you going to think through the logistics and consequences of your bitch? Let's assume that the rich DO decide to pay more in taxes. What are the repercussions? Please take as many aspects of this as possible into account in your answer.
The repercussions of the wealthy paying more is a smaller U.S. debt load.
It is already been established that if you taxed every person who made more than 250k a year at 100%, you would have about 1.4 trillion dollars. That doesn't even cover the deficit of 1.7 (closer to 2 if you listen to the new numbers) trillion let alone the budget. What're the repercussions of bankrupting everyone in the nation that makes over 250k?
What's your answer to that schmart guy? Think that'll go unnoticed and with only a minor effect?
Paying down the debt involves removing money from the economy no matter how you do it shit for brains.Riiiiight. Your income tax goes up, and all other taxes go down because that money's been removed from the economy causing an overall reduction in tax revenues.So, you going to think through the logistics and consequences of your bitch? Let's assume that the rich DO decide to pay more in taxes. What are the repercussions? Please take as many aspects of this as possible into account in your answer.
Repeal the Bush tax cuts.
The deficits go down.
There are smart ways, and stupid ways to do it. Raising taxes depresses national economic activity giving a short term bump for long term loss.Paying down the debt involves removing money from the economy no matter how you do it shit for brains.Riiiiight. Your income tax goes up, and all other taxes go down because that money's been removed from the economy causing an overall reduction in tax revenues.Repeal the Bush tax cuts.
The deficits go down.
There are smart ways, and stupid ways to do it. Raising taxes depresses national economic activity giving a short term bump for long term loss.Paying down the debt involves removing money from the economy no matter how you do it shit for brains.Riiiiight. Your income tax goes up, and all other taxes go down because that money's been removed from the economy causing an overall reduction in tax revenues.
Cutting spending, while reducing the tax burden on the populace leaves money in their pocket to spend or invest as they see fit without any government skimming reducing that overall total.There are smart ways, and stupid ways to do it. Raising taxes depresses national economic activity giving a short term bump for long term loss.Paying down the debt involves removing money from the economy no matter how you do it shit for brains.
Cutting spending also depresses national economy activity.
Ever heard of the Laffer curve? NEWSFUCKINGFLASH: Its maximum isn't at zero. The rich are enjoying the lowest tax rates they've had in generations - yet the economy is still in the toilet. What does that tell you?
Cutting spending, while reducing the tax burden on the populace leaves money in their pocket to spend or invest as they see fit without any government skimming reducing that overall total.There are smart ways, and stupid ways to do it. Raising taxes depresses national economic activity giving a short term bump for long term loss.
Cutting spending also depresses national economy activity.
Ever heard of the Laffer curve? NEWSFUCKINGFLASH: Its maximum isn't at zero. The rich are enjoying the lowest tax rates they've had in generations - yet the economy is still in the toilet. What does that tell you?
Your connection between the low taxrate of the rich and bad economy is a false one. There are so many more things in the mix, that tax rate ALONE for the rich is not the cure. Raise it OR lower it, and it won't make much difference, but it IS a part o the greater whole. Raising it WILL have a negative affect that will be amplified by actions taken on the other sectors of the economy. Same as lowering their tax burdens will have a positive effect that must be amplified by other policies in other areas of the economy.
50% of Americans do not pay income tax.
I have been hearing this mantra from the media and politicians for several weeks now. I have not seen any statistical or logical explanation of this statement.
I am hoping that, in this post, I can wrap my head around this monumental claim. How is it that Congress has allowed a set of rules to evolve that facilitates half of the country not paying income tax?
What I suspect is that the real situation involves a few Orwellian idioms which imply that many of these people are not paying income tax when, in fact, they are.
Let me first explain the Orwellian idioms:
Tax credit: A person with children gets a tax credit. It is applied to the amount owed the IRS for income tax. For each child $1000 credit is added. If that person has three children and owes $1,000 his income tax owed becomes -$2,000 ..(1000x3) 1000 = 2000 .. If this were actually a tax credit he would owe nothing and he would not receive any refund as he had credit for the amount he owed. The IRS ends up paying the man $2000 dollars. This makes the credit not a credit at all but an endowment.
Paid income tax: If a person did not make a payment to the IRS in any given year, he did not pay income tax
Did he pay income tax that year?
My assumption is that in the statement of 50% of Americans do not pay income tax. He is included in not paying income tax as he was not required to write a check to the IRS.
In fact he did pay his income tax for that year. The IRS elected to pay him (not give credit for) $1000/child and he had three children.
He paid $1000 and received $2000 balance.
Please let me know if I am correct in assuming that these people are included in the 50% tally.
If not, how is it that the Federal Government has gotten us to a point that only half of our citizens pay income tax.
You obviously don't understand the Laffer Curve. There is a balance point that you must find that achieves maximum benefit for lowest burden.Cutting spending, while reducing the tax burden on the populace leaves money in their pocket to spend or invest as they see fit without any government skimming reducing that overall total.Cutting spending also depresses national economy activity.
Ever heard of the Laffer curve? NEWSFUCKINGFLASH: Its maximum isn't at zero. The rich are enjoying the lowest tax rates they've had in generations - yet the economy is still in the toilet. What does that tell you?
Your connection between the low taxrate of the rich and bad economy is a false one. There are so many more things in the mix, that tax rate ALONE for the rich is not the cure. Raise it OR lower it, and it won't make much difference, but it IS a part o the greater whole. Raising it WILL have a negative affect that will be amplified by actions taken on the other sectors of the economy. Same as lowering their tax burdens will have a positive effect that must be amplified by other policies in other areas of the economy.
If lowering taxes is always a good thing then logically the ideal rate of taxation to get a good economy and good government is zero.
Is that what you are saying?
Here let me help you.Laffer curve - Wikipedia, the free encyclopedia
You obviously don't understand the Laffer Curve. There is a balance point that you must find that achieves maximum benefit for lowest burden.Cutting spending, while reducing the tax burden on the populace leaves money in their pocket to spend or invest as they see fit without any government skimming reducing that overall total.
Your connection between the low taxrate of the rich and bad economy is a false one. There are so many more things in the mix, that tax rate ALONE for the rich is not the cure. Raise it OR lower it, and it won't make much difference, but it IS a part o the greater whole. Raising it WILL have a negative affect that will be amplified by actions taken on the other sectors of the economy. Same as lowering their tax burdens will have a positive effect that must be amplified by other policies in other areas of the economy.
If lowering taxes is always a good thing then logically the ideal rate of taxation to get a good economy and good government is zero.
Is that what you are saying?
Here let me help you.Laffer curve - Wikipedia, the free encyclopedia
Yet you only said:Ever heard of the Laffer curve? NEWSFUCKINGFLASH: Its maximum isn't at zero
without qualification.Same as lowering their tax burdens will have a positive effect that must be amplified by other policies in other areas of the economy.
Yeah they do. They pay a portion of the propery tax.....It's figured into their monthly rent.Historically there has always been a large (40% > ) number of Americans that do not pay income tax. Its because they don't have much INCOME. The bottom half of income earners have less than 2.5% of the nation's wealth. YOU CAN'T SQUEEZE BLOOD FROM A FUCKING STONE NO MATTER HOW MUCH YOU HATE IT.
Hey did you know millions of Americans don't pay any property taxes, either? And people who don't drive cars don't pay the gasoline tax, how dare they!
It should read almost 50% and the figure comes from the IRS
50% of Americans don't pay any property taxes! OMG!!!!
Yeah they do. They pay a portion of the propery tax.....It's figured into their monthly rent.
Think progress?.....No wonder you people strive to be bottom feeders......You can't even site credible sources, let alone live your lives fiscally responsible.
YOU SHUSH! You're using real historical fact - we don't need that when we can just use our brains to think about what sounds right!
You can't even site credible sources, let alone live your lives fiscally responsible.
No one is saying higher taxes on the rich causes job growth. If anything, the chart posted would tend to suggest the rate of taxation on the rich has very little affect on overall economic growth either way.Now, show us where higher taxes on the rich leads to job growth, siting legitimate sources, and not some whiney progressive, give me something for nothing site.
I guarantee you're helping pay those property taxes.Yeah they do. They pay a portion of the propery tax.....It's figured into their monthly rent.
I guess my landlady has been forgetting to figure mine in because property taxes have gone up twice in the 4 years we've been renting this place - and our rent hasn't changed.
Jeez, I sure hope she's remembering to pay them for me. Since, as you say, they are my taxes to pay, I guess if they don't get paid the city can confiscate my property, right? Certainly wouldn't make sense for the city to confiscate her property for taxes she doesn't have to pay!
By your logic I could just as reasonably claim that even though every year a few thousand bucks get sent to the IRS with my name on it - I don't actually pay any income taxes, my employer does.
Well no shit but I'm also helping to pay her fucking grocery bill, what's your point?I guarantee you're helping pay those property taxes.
And, I never said they are "your taxes to pay", dumbass.......Any landlord with a brain uses a portion of all collected rent to help offset the tax.
In our case, we paid cash outright for all of our rental properties. We don't carry a note on any of them......Our rent collection goes to basic upkeep, trash service, property taxes etc......
When you've got money it surely is.Yep, capitalism is a beautiful thing!