America’s wealthiest families smash income ceiling, middle-class left far behind

[OnePercenter]

Sigh, you really don't know why that is a ridiculous statement to make?

You don't 'think' it correct? You know that for a fact?

 

[Toddsterpatriot]

You didn't see the imaginary tax on your imaginary income?

Because you lied yet again. The rich did not receive a tax increase under Obama.

Obama didn't add a 39.6% bracket? Why not?

 

[OnePercenter]

Obama didn't add a 39.6% bracket? Why not?

You have an income of $30M with deductions of $29.7M, what is your effective tax?

 

[Toddsterpatriot]

Obama didn't add a 39.6% bracket? Why not?

You have an income of $30M with deductions of $29.7M, what is your effective tax?

Filing single in 2014, you'd pay $82,858.25 with an AGI of $300,000.
Your effective rate is 82858.25/300000. About 27.62%.

 

[OnePercenter]

Filing single in 2014, you'd pay $82,858.25 with an AGI of $300,000.
Your effective rate is 82858.25/300000. About 27.62%.

Total federal tax ÷ total income

 

[dblack]

It seems that what we're really wrestling with, as a nation, is the relationship between economic power and political power. However we define the scope and boundaries of the two, I think keeping them separate is vital. Giving government power over our economic decisions is, essentially, giving the state total control. A government that controls how you spend your money controls anything and everything you do.

 

[Toddsterpatriot]

Filing single in 2014, you'd pay $82,858.25 with an AGI of $300,000.
Your effective rate is 82858.25/300000. About 27.62%.

Total federal tax ÷ total income

Total federal tax ÷ total TAXABLE income

 

[RKMBrown]

Sigh, you really don't know why that is a ridiculous statement to make?

You don't 'think' it correct? You know that for a fact?

First off, if you had personal income you are claiming your tax rates had to change significantly last year. I know this because mine did.

Secondly, if you are talking about corporate income that is a corporate tax, not personal income to you. As we have stated to you thousands of times you are quoting of some dumb asses that were making up dumb ass talking points about Walmart's corporate taxes in relation to revenue, which is ludicrous. Corporate taxes are paid on taxable income not revenue.

 

[OnePercenter]

Total federal tax ÷ total TAXABLE income

If you want to be deceptive.

 

[OnePercenter]

First off, if you had personal income you are claiming your tax rates had to change significantly last year. I know this because mine did.

Secondly, if you are talking about corporate income that is a corporate tax, not personal income to you. As we have stated to you thousands of times you are quoting of some dumb asses that were making up dumb ass talking points about Walmart's corporate taxes in relation to revenue, which is ludicrous. Corporate taxes are paid on taxable income not revenue.

I'm wealthy. I don't have personal income. A corporation pays my expenses.

Your tax rates changed since last year? Why, and what is the difference?

 

[RKMBrown]

First off, if you had personal income you are claiming your tax rates had to change significantly last year. I know this because mine did.

Secondly, if you are talking about corporate income that is a corporate tax, not personal income to you. As we have stated to you thousands of times you are quoting of some dumb asses that were making up dumb ass talking points about Walmart's corporate taxes in relation to revenue, which is ludicrous. Corporate taxes are paid on taxable income not revenue.

I'm wealthy. I don't have personal income. A corporation pays my expenses.

Your tax rates changed since last year? Why, and what is the difference?

Your corporation can only pay for your corporate related expenses. Anything else would have to be reported as income. If you have "no" income at all but money in the bank .. where did the money come from, FYI that is a red flag that usually indicates your millions came from illegal activities, such as selling drugs If you have no assets... you are broke. You can't be wealthy with no assets. If you have assets where did they come from, if not income?

Again your statements make no sense.

 

[Toddsterpatriot]

Total federal tax ÷ total TAXABLE income

If you want to be deceptive.

The actual definition is deceptive? LOL!

 

[Toddsterpatriot]

First off, if you had personal income you are claiming your tax rates had to change significantly last year. I know this because mine did.

Secondly, if you are talking about corporate income that is a corporate tax, not personal income to you. As we have stated to you thousands of times you are quoting of some dumb asses that were making up dumb ass talking points about Walmart's corporate taxes in relation to revenue, which is ludicrous. Corporate taxes are paid on taxable income not revenue.

I'm wealthy. I don't have personal income. A corporation pays my expenses.

Your tax rates changed since last year? Why, and what is the difference?

I don't have personal income. A corporation pays my expenses.

So your rate is in the 30s.

 

[RKMBrown]

First off, if you had personal income you are claiming your tax rates had to change significantly last year. I know this because mine did.

Secondly, if you are talking about corporate income that is a corporate tax, not personal income to you. As we have stated to you thousands of times you are quoting of some dumb asses that were making up dumb ass talking points about Walmart's corporate taxes in relation to revenue, which is ludicrous. Corporate taxes are paid on taxable income not revenue.

I'm wealthy. I don't have personal income. A corporation pays my expenses.

Your tax rates changed since last year? Why, and what is the difference?

I don't have personal income. A corporation pays my expenses.

So your rate is in the 30s.

Nope, he claims his tax rate is around 1%.

 

[initforme]

What is the point? The system isn't set up for middle class or lower class people to climb no matter how hard they are willing to work. Might as well just accept it.

 

[Toddsterpatriot]

First off, if you had personal income you are claiming your tax rates had to change significantly last year. I know this because mine did.

Secondly, if you are talking about corporate income that is a corporate tax, not personal income to you. As we have stated to you thousands of times you are quoting of some dumb asses that were making up dumb ass talking points about Walmart's corporate taxes in relation to revenue, which is ludicrous. Corporate taxes are paid on taxable income not revenue.

I'm wealthy. I don't have personal income. A corporation pays my expenses.

Your tax rates changed since last year? Why, and what is the difference?

I don't have personal income. A corporation pays my expenses.

So your rate is in the 30s.

Nope, he claims his tax rate is around 1%.

Yeah, I remember his lies. Let's see him explain how a corp. pays 1%.

 

[OnePercenter]

Your corporation can only pay for your corporate related expenses. Anything else would have to be reported as income. If you have "no" income at all but money in the bank .. where did the money come from, FYI that is a red flag that usually indicates your millions came from illegal activities, such as selling drugs If you have no assets... you are broke. You can't be wealthy with no assets. If you have assets where did they come from, if not income?

Again your statements make no sense.

One of my corporations is a family trust that derives it's income from investments. What is the business of a family trust?

Your tax rates changed since last year? Why, and what is the difference?

 

[mikegriffith1]

Mindless, silly class-warfare propaganda.

While you're at it, why not also launch a crusade over the academic performance gap, because the smart, dedicated students continue to vastly outperform the less-dedicated, less intellectually inclined students--and surely that is unfair, somehow.

Or, how about a crusade against the continuously huge gap between talented, dedicated athletes and part-time/less-talented/less-dedicated athletes, not to mention people who wish they did more athletics but just don't find the time to do so?

Let's mandate that no student can earn higher than a B and that no student can be given less than a D, hey?

And, let's declare that no basketball player can score more than 10 points per game, that no baseball player can get more than 1 hit per game, that no sprinter can run faster than 14 seconds per 100 meters, etc.

People have different work ethics, different skills, different levels of dedication and motivation, etc., and to whine about the fact that some people do very well at earning money while others do not is to ignore human nature.

 

[RKMBrown]

Your corporation can only pay for your corporate related expenses. Anything else would have to be reported as income. If you have "no" income at all but money in the bank .. where did the money come from, FYI that is a red flag that usually indicates your millions came from illegal activities, such as selling drugs If you have no assets... you are broke. You can't be wealthy with no assets. If you have assets where did they come from, if not income?

Again your statements make no sense.

One of my corporations is a family trust that derives it's income from investments. What is the business of a family trust?

Your tax rates changed since last year? Why, and what is the difference?

When your "family trust corporation" distributes assets to your family they pay income tax.

Extrapolating from this context... when you claimed low effective tax rates what you were really doing is "deferring" taxes on income to some later time by not distributing accruing assets of the family trust. IOW your trust is acting like a 401k where you don't have to pay taxes till you take the money out for personal use. The business of your family trust is to grow the family trust for later withdrawals.

Since last year? Huh? Who's talking about next years taxes?

 

[Toddsterpatriot]

Your corporation can only pay for your corporate related expenses. Anything else would have to be reported as income. If you have "no" income at all but money in the bank .. where did the money come from, FYI that is a red flag that usually indicates your millions came from illegal activities, such as selling drugs If you have no assets... you are broke. You can't be wealthy with no assets. If you have assets where did they come from, if not income?

Again your statements make no sense.

One of my corporations is a family trust that derives it's income from investments. What is the business of a family trust?

Your tax rates changed since last year? Why, and what is the difference?

When your "family trust corporation" distributes assets to your family they pay income tax.

Extrapolating from this context... when you claimed low effective tax rates what you were really doing is "deferring" taxes on income to some later time by not distributing accruing assets of the family trust. IOW your trust is acting like a 401k where you don't have to pay taxes till you take the money out for personal use. The business of your family trust is to grow the family trust for later withdrawals.

Since last year? Huh? Who's talking about next years taxes?

A family trust is simply an ordinary trust in which beneficiaries are members of the trust grantor’s family. Although trust assets are not taxed unless they earn income, trust income is generally taxed in the same way as personal income. Under some circumstances, however, you can use a family trust to obtain tax advantages.