So people who earn a million a year pay a lower tax rate than the middle class

[Skull Pilot]

Bam Bam is spouting off again about people who earn a million a year not paying the same percentage as the so called middle class.

Well guess what he's wrong again.

A single filer making 1 million a year would pay in $323,935 or 32.39% of his income.

A single filer earning 50K a year would pay in $8600 or 17.2% of his income.

So you see folks people who make more pay a higher percentage of their income so it's the rest of you who aren't paying their "fair share"

 

[Meister]

I heard Obama yesterday wanting the fair share to be paid. But, 47% of America pays no income tax...how is this their fair share?

 

[Uncensored2008]

Obama bin lying...

 

[Zander]

It's class warfare designed to create envy. We are dangerously close to the tipping point where over half the households in the USA are receiving some sort of government check or hand out. Obama's goal is to get us over 50%.

 

[healthmyths]

Bam Bam is spouting off again about people who earn a million a year not paying the same percentage as the so called middle class.

Well guess what he's wrong again.

A single filer making 1 million a year would pay in $323,935 or 32.39% of his income.

A single filer earning 50K a year would pay in $8600 or 17.2% of his income.

So you see folks people who make more pay a higher percentage of their income so it's the rest of you who aren't paying their "fair share"

YOU ARE ASKING dummy supporters to comprehend REALITY here!
321,294 total tax returns over $ 1 million at average of $10,483,240
Total tax payments actual receipts to IRS...
$249,019,686,000 on gross income of $1,068,330,120,000 or 23%!
taxes paid on gross income:
In a recent Census report there are 110,000,000 households in the United States. What this data tells us is that 55,000,000 households are living on $46,000 or less a year.
In 2009 people making $50,000 under $75,000 filed 19,196,461 tax returns
their gross income $1,180,014,000,000
they paid in taxes: $92,652,392,000 or a total of 7.8%

NOW for the Obama dummies 23% taxes paid by 321,294 EVIL millionaires VERSUS
7.8% of 19 million filers making $50 to $75,000..
WHICH PAID MORE % of income?????

 

[g5000]

Bam Bam is spouting off again about people who earn a million a year not paying the same percentage as the so called middle class.

Well guess what he's wrong again.

A single filer making 1 million a year would pay in $323,935 or 32.39% of his income.

Actually, the 2011 tax bracket for a person making $1 million is 35%.

But there are people who make $1 million who only pay 15%, and that is who Obama is talking about.

The part he is leaving out is that he is conflating income tax with capital gains tax.

If you invest in equities and hold them for less than a year, you are taxed at the income rate. If you hold them for more than a year and then sell them, you are taxed at the capital gains rate of 15%.

Basically, Obama is saying the capital gains tax should be raised for people who make more than a million bucks from their investments.

He never, ever phrases it that way, though. He's a populist and wants the rubes to believe he is talking about some CEO earning a million bucks in income and not paying his "fair share".

 

[Skull Pilot]

Bam Bam is spouting off again about people who earn a million a year not paying the same percentage as the so called middle class.

Well guess what he's wrong again.

A single filer making 1 million a year would pay in $323,935 or 32.39% of his income.

A single filer earning 50K a year would pay in $8600 or 17.2% of his income.

So you see folks people who make more pay a higher percentage of their income so it's the rest of you who aren't paying their "fair share"

YOU ARE ASKING dummy supporters to comprehend REALITY here!
321,294 total tax returns over $ 1 million at average of $10,483,240
Total tax payments actual receipts to IRS...
$249,019,686,000 on gross income of $1,068,330,120,000 or 23%!
taxes paid on gross income:
In a recent Census report there are 110,000,000 households in the United States. What this data tells us is that 55,000,000 households are living on $46,000 or less a year.
In 2009 people making $50,000 under $75,000 filed 19,196,461 tax returns
their gross income $1,180,014,000,000
they paid in taxes: $92,652,392,000 or a total of 7.8%

NOW for the Obama dummies 23% taxes paid by 321,294 EVIL millionaires VERSUS
7.8% of 19 million filers making $50 to $75,000..
WHICH PAID MORE % of income?????

I was using adjusted gross income not total income out of habit from years of financial planning work but regardless of the calculation people who earn more pay a higher percentage.

 

[B. Kidd]

Warren Buffets secretary makes 400K per year. She doesn't qualify for the write-offs and loopholes that her boss does. No wonder she pays more in taxes then him!
No one ever mentions that. The devil is always in the details.

 

[Wry Catcher]

Bam Bam is spouting off again about people who earn a million a year not paying the same percentage as the so called middle class.

Well guess what he's wrong again.

A single filer making 1 million a year would pay in $323,935 or 32.39% of his income.

A single filer earning 50K a year would pay in $8600 or 17.2% of his income.

So you see folks people who make more pay a higher percentage of their income so it's the rest of you who aren't paying their "fair share"

Is that the truth, the whole truth and you've not omitted anything?

[I know it's not, so you have some time to correct this post]

 

[g5000]

Warren Buffets secretary makes 400K per year.

Income.

She doesn't qualify for the write-offs and loopholes that her boss does. No wonder she pays more in taxes then him!
No one ever mentions that.

No one ever mentions Buffet makes capital gains, not income. Different part of the tax code. It is important to Obama that you do NOT understand that. He wants you to be ignorant.

And I would bet a million dollars Buffet pays more in taxes than his secretary. Want to take me up on that?

 

[SniperFire]

Bam Bam is spouting off again about people who earn a million a year not paying the same percentage as the so called middle class.

Well guess what he's wrong again.

A single filer making 1 million a year would pay in $323,935 or 32.39% of his income.

A single filer earning 50K a year would pay in $8600 or 17.2% of his income.

So you see folks people who make more pay a higher percentage of their income so it's the rest of you who aren't paying their "fair share"

Obama gets a free pass by the media to lie, so he freely does it each and every day.

Must be an Affirmative Action thing.

 

[g5000]

“I don’t pay hardly any payroll taxes,” Buffett said. “Gov. Romney hardly pays any payroll taxes, Newt Gingrich hardly pays any payroll taxes. Debbie pays lots of payroll taxes.”

Warren Buffett and His Secretary Talk Taxes - ABC News

Understand now, Kidd?

 

[uscitizen]

Lets eliminate all deductions.
We should not use the tax system for promoting social structure.

 

[g5000]

Warren Buffets secretary makes 400K per year.

And yet in the interview I linked above, she said, “I just feel like an average citizen. I represent the average citizen who needs a voice.”

$400,000 a year is NOT average. Not even close.

 

[g5000]

Lets eliminate all deductions.
We should not use the tax system for promoting social structure.

You could eliminate all deductions and Warren Buffet would still pay a lower rate than his secretary.


People clearly do not understand the finer points.

And Obama likes it that way.

 

[Intense]

I heard Obama yesterday wanting the fair share to be paid. But, 47% of America pays no income tax...how is this their fair share?

Not only are they not paying, the Earned Income Credit has become real popular. Do you think Obama should break the news about where that money comes from?

 

[Wry Catcher]

Bam Bam is spouting off again about people who earn a million a year not paying the same percentage as the so called middle class.

Well guess what he's wrong again.

A single filer making 1 million a year would pay in $323,935 or 32.39% of his income.

A single filer earning 50K a year would pay in $8600 or 17.2% of his income.

So you see folks people who make more pay a higher percentage of their income so it's the rest of you who aren't paying their "fair share"

Obama gets a free pass by the media to lie, so he freely does it each and every day.

Must be an Affirmative Action thing.

You get away with making outrageous statements everyday, must be a pass given to all fools.

 

[uscitizen]

I heard Obama yesterday wanting the fair share to be paid. But, 47% of America pays no income tax...how is this their fair share?

Not only are they not paying, the Earned Income Credit has become real popular. Do you think Obama should break the news about where that money comes from?

As I said no deductions and a flat tax % on ALL income.

lets say 12%.

You make $100 yiou pay 12% of it in taxes you make 10,000,000 you pay 12% of it.

 

[Rozman]

Bam Bam is spouting off again about people who earn a million a year not paying the same percentage as the so called middle class.

Well guess what he's wrong again.

A single filer making 1 million a year would pay in $323,935 or 32.39% of his income.

A single filer earning 50K a year would pay in $8600 or 17.2% of his income.

So you see folks people who make more pay a higher percentage of their income so it's the rest of you who aren't paying their "fair share"

How about the fact that this person might live in the NYC area.
How about that fact that that's where the job or business is that is the reason
why they make that kind of money...Now think about all the other taxes that person
will have to pay...Granted that person might have chose to live in a high tax state but how much do we need to pay to make the Libs happy....

I already know the answer to that unfortunately....
We will never pay enough in taxes to satisfy the left.

 

[Intense]

I heard Obama yesterday wanting the fair share to be paid. But, 47% of America pays no income tax...how is this their fair share?

Not only are they not paying, the Earned Income Credit has become real popular. Do you think Obama should break the news about where that money comes from?

As I said no deductions and a flat tax % on ALL income.

lets say 12%.

You make $100 yiou pay 12% of it in taxes you make 10,000,000 you pay 12% of it.

Totally agree. I think the Percentage should be the same for Each of us, including Earned through work and Capital Gain, in relation to Personal Income Tax.