Do The Rich Pay Their Fair Share?

[Missourian]

A fair share is to divide the national budget by the number of citizens of voting age, and that is the amount each citizen owes. That's the only formula that calculates a fair share.

Therefore the people who are not paying at least that amount in federal taxes are the only ones that are not paying their fair share.

I'll tell my 85 year old Mom in law to kick in more...

Tell her not to worry about it...someone else is paying more than their fair share to pick up the slack.

Okay, take the entire wealth of the nation, divide by citizens eligible to vote, send me my share each year and the bill for paying the debt off in ten years. That bill I will gladly pay with my generous new income.

The nation has no wealth - again, your rhetoric is empty.

I know you don't pay attention to the posts because you are a very ignorant LIP!!!
READ AGAIN the following:

THE net worth of American households is now 20 percent higher than it was before it began to decline in 2007, the Federal Reserve reported this week. It said the households together were worth $81.5 trillion at the end of the second quarter, higher than ever and up 10 percent from a year earlier.
http://www.nytimes.com/2014/09/20/b...as-rebounded-since-financial-crisis.html?_r=0


Total Assets of ALL households: $95.4 trillion...

Total DEBTS of all households: $14.0 trillion...

NET WORTH: $81.5 trillion.

Net in case you don't have enough financial sense to understand the above...
A) Add up all the assets of all households TOTAL value $95.4 TRILLION!
B) Add up all the debts the households OWE total amount: $14.0 Trillion!
C) When you cash in all the assets and pay off all the debts the amount
LEFT OVER NET WORTH: $81.5 trillion!!!

Private wealth vs. public debt.

Apples...oranges.

The government is 17 trillion dollars in debt.

Every citizens over 18 owes a share of that debt.

 

[PaintMyHouse]

Anyone talking about a "fair share" should be required to give a number. Otherwise, it just means "More".

Fair share? 50% of everything over 500K. Make as much as you like.

How did you determine that is "fair?"

Sharing my little infant. Half for them, half for society that makes such an income possible.

We make income for society possible. You are a parasite, you make nothing possible

I'll help you out. It's your money after we take our cut. Pay to play boys, and this is the only game in town.

 

[kaz]

Warren Buffett says we should tax the rich more while hiring an army of accountants to manipulate a loophole to be paid in capital gains rather than income and keep his taxes artificially low.

Reason #793 for why we need to ban all tax expenditures.

I'm confused, a tax expenditure is a deduction or a credit like for a mortgage. What are you trying to say? You want a flat tax rate?

 

[kaz]

We make income for society possible. You are a parasite, you make nothing possible

I'll help you out. It's your money after we take our cut. Pay to play boys, and this is the only game in town.

Yes, the government mafia will have it's cut. That doesn't contradict what I said, Buckwheat. I didn't say they aren't going to take it, I said you are the parasite

 

[Ernie S.]

Anyone talking about a "fair share" should be required to give a number. Otherwise, it just means "More".

Fair share? 50% of everything over 500K. Make as much as you like.

How did you determine that is "fair?"

Sharing my little infant. Half for them, half for society that makes such an income possible.

Did you share my tuition bills? Did you work sholder to sholder with me on all of those 16 hour days? Did you share my initial investment to start my business? Do you kick in half of the licensing fees? local taxes? insurance payments?

 

[g5000]

Warren Buffett says we should tax the rich more while hiring an army of accountants to manipulate a loophole to be paid in capital gains rather than income and keep his taxes artificially low.

Reason #793 for why we need to ban all tax expenditures.

I'm confused, a tax expenditure is a deduction or a credit like for a mortgage. What are you trying to say? You want a flat tax rate?

I want to ban all tax expenditures. A "loophole" is just a colloquial expression for a tax expenditure.

Simpletons thinks a flat tax rate will fix things, but a flat tax rate is just as susceptible to corruption by tax expenditures as the current tax structure is.

A flat tax rate that does not ban tax expenditures will require as many pages of tax forms and as many accountants to do our taxes as the current system does. It will have as many thousands of pages in the tax code as the current system does.

We could do our taxes on a postcard right now with the current tax brackets if we banned all tax expenditures.

If you had any understanding of our system, a light bulb should be going off in your head right about now.

 

[Ernie S.]

Anyone talking about a "fair share" should be required to give a number. Otherwise, it just means "More".

Fair share? 50% of everything over 500K. Make as much as you like.

How did you determine that is "fair?"

Sharing my little infant. Half for them, half for society that makes such an income possible.

We make income for society possible. You are a parasite, you make nothing possible

I'll help you out. It's your money after we take our cut. Pay to play boys, and this is the only game in town.

Gotcha, Guido.

 

[kaz]

Anyone talking about a "fair share" should be required to give a number. Otherwise, it just means "More".

Fair share? 50% of everything over 500K. Make as much as you like.

How did you determine that is "fair?"

Sharing my little infant. Half for them, half for society that makes such an income possible.

Did you share my tuition bills? Did you work sholder to sholder with me on all of those 16 hour days? Did you share my initial investment to start my business? Do you kick in half of the licensing fees? local taxes? insurance payments?

Government built roads so our employees can get to the office. Which they paid for with our money. Don't you think that's just as important as all the things you mentioend? Don't they deserve half our earnings for that?

 

[kaz]

Warren Buffett says we should tax the rich more while hiring an army of accountants to manipulate a loophole to be paid in capital gains rather than income and keep his taxes artificially low.

Reason #793 for why we need to ban all tax expenditures.

I'm confused, a tax expenditure is a deduction or a credit like for a mortgage. What are you trying to say? You want a flat tax rate?

I want to ban all tax expenditures. A "loophole" is just a colloquial expression for a tax expenditure.

Simpletons thinks a flat tax rate will fix things, but a flat tax rate is just as susceptible to corruption by tax expenditures as the current tax structure is.

A flat tax rate that does not ban tax expenditures will require as many pages of tax forms and as many accountants to do our taxes as the current system does. It will have as many thousands of pages in the tax code as the current system does.

We could do our taxes on a postcard right now with the current tax brackets if we banned all tax expenditures.

If you had any understanding of our system, a light bulb should be going off in your head right about now.

I agree with what you are saying, but you're wrong that the correct term for what Buffett does is "tax expenditure." Buffet is changing a tax rate with his gimmick. Think about the term "expenditure." Things like tax deductions for government marriage, mortgage deduction, medical bills, those are tax expenditures

I'm not arguing that makes it better, just that you're using the wrong term

 

[Toddsterpatriot]

You cannot discuss privately held wealth ... it isn't yours to be shared.

Reality is a prickly thing, isn't it? You can't use it to justify your blather.

The wealth isn't shared but the national debt is? Interesting.

Tell you what, let's adjust the national debt shares based on income. Go...

The national debt was incurred, in the name of ALL the people, with your permission. Sorry --- you owe the same amount I do.

My wealth, on the other hand, was earned by my actions - you don't get any, because you don't deserve it.

Debt you want shared evenly, but not income. Got it.

What a deal for the rich eh? As usual...

My wealth is of my doing, not yours. YOU have no claim to it and it is irrelevant to your situation. If you want wealth comparable to mine, earn it yourself.

You make it here, we allow that, you owe some of it back to us. It's a pay to play game so stop bitching about the bill, it should be far higher.

You make it here, we allow that

Da, comrade. LOL!

 

[healthmyths]

I'll tell my 85 year old Mom in law to kick in more...

Tell her not to worry about it...someone else is paying more than their fair share to pick up the slack.

Okay, take the entire wealth of the nation, divide by citizens eligible to vote, send me my share each year and the bill for paying the debt off in ten years. That bill I will gladly pay with my generous new income.

The nation has no wealth - again, your rhetoric is empty.

I know you don't pay attention to the posts because you are a very ignorant LIP!!!
READ AGAIN the following:

THE net worth of American households is now 20 percent higher than it was before it began to decline in 2007, the Federal Reserve reported this week. It said the households together were worth $81.5 trillion at the end of the second quarter, higher than ever and up 10 percent from a year earlier.
http://www.nytimes.com/2014/09/20/b...as-rebounded-since-financial-crisis.html?_r=0


Total Assets of ALL households: $95.4 trillion...

Total DEBTS of all households: $14.0 trillion...

NET WORTH: $81.5 trillion.

Net in case you don't have enough financial sense to understand the above...
A) Add up all the assets of all households TOTAL value $95.4 TRILLION!
B) Add up all the debts the households OWE total amount: $14.0 Trillion!
C) When you cash in all the assets and pay off all the debts the amount
LEFT OVER NET WORTH: $81.5 trillion!!!

Private wealth vs. public debt.

Apples...oranges.

The government is 17 trillion dollars in debt.

Every citizens over 18 owes a share of that debt.

GREAT!!! Subtract the 18 trillion from the $81.5 trillion STILL leaves MORE ASSETS then debt by $63.5 trillion!
BIG woo!!!

 

[healthmyths]

Warren Buffett says we should tax the rich more while hiring an army of accountants to manipulate a loophole to be paid in capital gains rather than income and keep his taxes artificially low.

Reason #793 for why we need to ban all tax expenditures.

I'm confused, a tax expenditure is a deduction or a credit like for a mortgage. What are you trying to say? You want a flat tax rate?

I want to ban all tax expenditures. A "loophole" is just a colloquial expression for a tax expenditure.

Simpletons thinks a flat tax rate will fix things, but a flat tax rate is just as susceptible to corruption by tax expenditures as the current tax structure is.

A flat tax rate that does not ban tax expenditures will require as many pages of tax forms and as many accountants to do our taxes as the current system does. It will have as many thousands of pages in the tax code as the current system does.

We could do our taxes on a postcard right now with the current tax brackets if we banned all tax expenditures.

If you had any understanding of our system, a light bulb should be going off in your head right about now.

I agree with what you are saying, but you're wrong that the correct term for what Buffett does is "tax expenditure." Buffet is changing a tax rate with his gimmick. Think about the term "expenditure." Things like tax deductions for government marriage, mortgage deduction, medical bills, those are tax expenditures

I'm not arguing that makes it better, just that you're using the wrong term

YOU are 100% correct! The government counts the following deductions and considers ALL income their income!
So there for when you take a deduction to the Federal government that is an "Expenditure"!

The Top 20 Tax Expenditures - Business Insider

1. $171 billion in 2012 was deducted from taxes for... health insurance for EMPLOYEES!!
2. $138 billion for employees pensions!
3. $87 billion employees mortgage interest deductions
4. $24 billion for child care credit
5. $33 billion charitable contributions
6. $27 billion deductions of health care items
7. $66 billion capital gains (Obama took $122,000 off his taxes from this!)

NOTICE that 1, 2, 3,4,5 items are for individuals... i.e. employee insurance ..deduction... employee pensions.. etc...

 

[Ernie S.]

Anyone talking about a "fair share" should be required to give a number. Otherwise, it just means "More".

Fair share? 50% of everything over 500K. Make as much as you like.

How did you determine that is "fair?"

Sharing my little infant. Half for them, half for society that makes such an income possible.

Did you share my tuition bills? Did you work sholder to sholder with me on all of those 16 hour days? Did you share my initial investment to start my business? Do you kick in half of the licensing fees? local taxes? insurance payments?

Government built roads so our employees can get to the office. Which they paid for with our money. Don't you think that's just as important as all the things you mentioend? Don't they deserve half our earnings for that?

At least half for roads. We get fire and police too. I guess that takes care of the rest.

 

[PaintMyHouse]

We make income for society possible. You are a parasite, you make nothing possible

I'll help you out. It's your money after we take our cut. Pay to play boys, and this is the only game in town.

Yes, the government mafia will have it's cut. That doesn't contradict what I said, Buckwheat. I didn't say they aren't going to take it, I said you are the parasite

You can say anything you like, and you'll be just as wrong as usual.

 

[PaintMyHouse]

The wealth isn't shared but the national debt is? Interesting.

Tell you what, let's adjust the national debt shares based on income. Go...

The national debt was incurred, in the name of ALL the people, with your permission. Sorry --- you owe the same amount I do.

My wealth, on the other hand, was earned by my actions - you don't get any, because you don't deserve it.

Debt you want shared evenly, but not income. Got it.

What a deal for the rich eh? As usual...

My wealth is of my doing, not yours. YOU have no claim to it and it is irrelevant to your situation. If you want wealth comparable to mine, earn it yourself.

You make it here, we allow that, you owe some of it back to us. It's a pay to play game so stop bitching about the bill, it should be far higher.

You make it here, we allow that

Da, comrade. LOL!

Entirely true. Without society there would be no capitalism.

 

[Spare_change]

I am...

You cannot discuss privately held wealth ... it isn't yours to be shared.

Reality is a prickly thing, isn't it? You can't use it to justify your blather.

The wealth isn't shared but the national debt is? Interesting.

Tell you what, let's adjust the national debt shares based on income. Go...

The national debt was incurred, in the name of ALL the people, with your permission. Sorry --- you owe the same amount I do.

My wealth, on the other hand, was earned by my actions - you don't get any, because you don't deserve it.

Debt you want shared evenly, but not income. Got it.

What a deal for the rich eh? As usual...

LIke a genuine Nazi, you don't care who owns the wealth or who owns the debt.

Same ol' story, I guess ... logic doesn't enter into it. As long as they get a piece of your action, they're happy. That way, they don't have to create their own action.

 

[Spare_change]

The national debt was incurred, in the name of ALL the people, with your permission. Sorry --- you owe the same amount I do.

My wealth, on the other hand, was earned by my actions - you don't get any, because you don't deserve it.

Debt you want shared evenly, but not income. Got it.

What a deal for the rich eh? As usual...

My wealth is of my doing, not yours. YOU have no claim to it and it is irrelevant to your situation. If you want wealth comparable to mine, earn it yourself.

You make it here, we allow that, you owe some of it back to us. It's a pay to play game so stop bitching about the bill, it should be far higher.

We ALLOW that?????? Interesting ....

That's correct. The ability to make money, AKA options for greed, are controlled by the society in which you live. A man alone on an island can make not a dime. For him to do so requires what society provides. Capitalism doesn't work in a vacuum.

You've gone from ludicrous to just plain silly.

When do they bring the meds around?

 

[Spare_change]

I don't know about you, but I'm paying my bills.

I pay mine as well, but the US doesn't because it doesn't tax enough.

Hey, PMS! Pay as much as you want. That is your right. Just leave my wallet alone.

Not a chance in hell. See above.

And should you wish to leave because you feel it's unfair, we'll help you pack. See ya.

But ... but .... if he leaves, who is going to pay YOUR 'fair share'?

You can't have it both ways ....

I already pay more than my fair share, I'm not that rich.

How do you determine what your fair share is? I mean, if you pay more than that, you must know what it is.

 

[Spare_change]

The rich pay MORE more than their fair share. All the drivel saying otherwise is just ignorance on display by ignorant people.

Only the Right prefers to appeal to ignorance of Capitalism regarding being Taxed what one is worth in favor of the Socialism of equality.

Drunk already?

so, according to the Right, the wealthiest need the affirmative action of socialism via equality simply because they are not worth it under capitalism; some on the left get it.

...zoomed past silly, went straight to stupid.

 

[g5000]

Warren Buffett says we should tax the rich more while hiring an army of accountants to manipulate a loophole to be paid in capital gains rather than income and keep his taxes artificially low.

Reason #793 for why we need to ban all tax expenditures.

I'm confused, a tax expenditure is a deduction or a credit like for a mortgage. What are you trying to say? You want a flat tax rate?

I want to ban all tax expenditures. A "loophole" is just a colloquial expression for a tax expenditure.

Simpletons thinks a flat tax rate will fix things, but a flat tax rate is just as susceptible to corruption by tax expenditures as the current tax structure is.

A flat tax rate that does not ban tax expenditures will require as many pages of tax forms and as many accountants to do our taxes as the current system does. It will have as many thousands of pages in the tax code as the current system does.

We could do our taxes on a postcard right now with the current tax brackets if we banned all tax expenditures.

If you had any understanding of our system, a light bulb should be going off in your head right about now.

I agree with what you are saying, but you're wrong that the correct term for what Buffett does is "tax expenditure." Buffet is changing a tax rate with his gimmick. Think about the term "expenditure." Things like tax deductions for government marriage, mortgage deduction, medical bills, those are tax expenditures

I'm not arguing that makes it better, just that you're using the wrong term

It is possible Buffet is employing a deferral on his investment income and than buying an option on the value of his deferred stake from another financial institution, giving him the right to buy back the stake at its current value in the future. Since this introduces an element of risk, voila! An income is turned into a capital gain!