Who exactly are the rich that aren’t paying their fair share?

[The Derp]

You have no idea if I believe him or not.
I actually post links to info you don't

Trouble is, you don't seem to believe in anything except trolling.

 

[The Derp]

If all ya got is ambiguous BS, then STFU.

You're the ambiguous BS'ers here who claim to see benefits from the tax cut. You say you'll get to keep more of what you earned, I say prove it, you say it doesn't matter if you prove it or not. Well, yes, it does matter. Because your entire argument hinges on your personal circumstances that you refuse to detail on the board. Obviously because you're not half the person you claim to be.

 

[jc456]

30 years ago people in the top 10% were making close to $60,000/per year, and so started the chant of rich people don’t pay their fare share. Today we’re hearing the exact same thing. So what I’m curious to know is who the rich are? What level of income is needed before you’re considered to not be paying your fair share. Is it still the $60,000 mark or is it anyone that has $1.00 more than you do.

IMHO it's not the income that decides whether you're paying your fair share It's all the deductions only the rich can take so their % of taxes are very low

LOL okay what are these make believe rich only tax deductions?

5 tax deductions that favor the rich
JAY MACDONALD@OMNISAURUS
DECEMBER 7, 2011 in TAXES
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It’s good to be rich


When it comes to tax deductions, it is good to be rich — the richer, the better.

Middle-class America enjoys some of the same tax breaks as the wealthy on things like the mortgage interest on home loans, capital gains on retirement investments and donations made to charity.

However, the rich enjoy these deductions and others to a wildly disproportionate degree when compared to the rest of taxpayers. According to the National Priorities Project, America’s top earners will get an average tax cut of $66,384 in 2011 while the bottom 20 percent will realize an average tax savings of about $107.

Seth Hanlon, director of fiscal reform for the Center for American Progress, says that while all tax breaks are well-intended, the “upside-down” nature of some miss their target.

“Most people don’t see these as being government expenditures, but from an economic and budget point of view, they’re really the same thing as programs that spend money directly,” says Hanlon. “There are ways to reform them to make them work better.”

Many agree, including President Barack Obama, Warren Buffett and Bill Gates.

Here are five tax deductions that help the rich get richer.




The Most Common Overlooked Tax Breaks
Don't miss these tax breaks -- they could save you some cash.

Mortgage interest: a homeownership incentive?

The mortgage interest deduction on your federal tax return is intended to encourage homeownership by giving you a tax break on the interest you pay on your house note.

There is little question it benefits millions of middle-class homeowners as well as the wealthy. But does it provide a compelling financial incentive to own rather than rent? Not so much.

According to a study by The Wharton School at the University of Pennsylvania, mortgage interest deductions for households with incomes between $40,000 and $75,000 average just $523, while households with incomes above $250,000 enjoy an average write-off of $5,459, or more than 10 times as much.

You must itemize on IRS Form 1040 Schedule A to claim the deduction. If you do, you can also deduct the interest paid on a second home. The rich do both, but most of the middle class does neither.

“For millions of taxpayers, therefore, the mortgage interest deduction provides no added incentive to buy a home,” says Hanlon. “It makes no sense in terms of targeting the incentive at the people who need or could use it.”

Capital gains: how the rich get richer

Why does billionaire Warren Buffett pay less income tax than his secretary?

Two words: capital gains.

Long-term capital gains, which derive from the sale of investments such as stocks and bonds held for more than a year, are taxed at 15 percent. That’s well below the 35 percent maximum tax rate on ordinary income such as wages.

The preferential tax treatment of capital gains is widely viewed as regressive because the rich, who derive a disproportionate share of their income from capital gains, pay less than half of the tax rate on that income compared to middle-class wage earne

Buffet pays so little because he only pays himself a 100K a year salary.

If he was not the flaming hypocrite he is he would pay himself 10 million a year and pay the taxes he thinks he should pay

or just give it to the IRS.

 

[The Derp]

I never said how much I make or that my net worth was 19 million dollars did I ? I never said how much I was going to save only that I would save.

That last part there: "only that I would save." needs proof. Which you refuse to dgive So you say you will save, refuse to prove it, and we're supposed to just accept it at face value, why? Because you're so honest you can't even step out from the cover the anonymity USMB provides you? Why are you hiding behind it? If you will see all these personal benefits and gains from the tax cut, show us! Unless you can't. Because you're a fraud and a liar.

 

[The Derp]

10 tax returns 10 years of savings

That is unproven since you refuse to divulge any details. Because you can't. Because you got nothing.

And I said you have no idea what tax bracket I an in now in 2017 so you have no idea what tax bracket I will be in in the future

Yeah, you're keeping that information secret for obvious reasons.

 

[Skull Pilot]

I have been stating facts. You think that is defending him because I refuse to tell outright lies like you.

You haven't stated a fact. You've pretended to be something you're not just to lend your argument credibility it doesn't have.

"I put my income into a calculator and it says I get a cut" isn't a fact. It's a statement of bullshit until you provide proof of what your "income" is. You won't do that because then you'd lose the status of anonymity you hide behind on this board. What a fuckin' coward.

Tell you what you post your Name Address SSN and full PDF of your last 20 years of tax returns so we know how much you'll be losing

And I was referring to what i say about Trump that you call defending him. You say his net worth is Zero but a credible source says it's 3 billion

 

[Skull Pilot]

10 tax returns 10 years of savings

That is unproven since you refuse to divulge any details. Because you can't. Because you got nothing.

And I said you have no idea what tax bracket I an in now in 2017 so you have no idea what tax bracket I will be in in the future

Yeah, you're keeping that information secret for obvious reasons.

YEah because I will not post my info in the web

 

[Skull Pilot]

You have no idea if I believe him or not.
I actually post links to info you don't

Trouble is, you don't seem to believe in anything except trolling.

Saying you're full of shit when you say Trump's net worth was zero and proving it with a link to a credible source is trolling now?

 

[The Derp]

And I can say the very same thing about everything you post here as well.

I'm not making any claims about myself on these boards. I don't do that because I know it's stuff you can't prove on the internet, and because no one cares. So I work within the parameters of actual facts and averages. Things that can be verified. Like median household income. That can be verified. Skull Pilot's household income cannot be verified. So you saying you will get a tax cut isn't a truthful statement because it can't be verified as true.

 

[Skull Pilot]

And I can say the very same thing about everything you post here as well.

I'm not making any claims about myself on these boards. I don't do that because I know it's stuff you can't prove on the internet, and because no one cares. So I work within the parameters of actual facts and averages. Things that can be verified. Like median household income. That can be verified. Skull Pilot's household income cannot be verified. So you saying you will get a tax cut isn't a truthful statement because it can't be verified as true.

You're saying you're going to be paying more in taxes so prove it

 

[The Derp]

Tell you what you post your Name Address SSN and full PDF of your last 20 years of tax returns so we know how much you'll be losing.

I'm not the one making claims about my after-tax income. YOU ARE. I can make an argument against these tax cuts without invoking any personal information from anyone. You are unable to do that, relying purely on anecdotes that you expect others to approach with the same gullibility you have.

 

[The Derp]

YEah because I will not post my info in the web

And since you won't do that, you can't credibly claim you will personally benefit. Which means this entire conversation has been a bunch of bullshit from you.

 

[Skull Pilot]

Tell you what you post your Name Address SSN and full PDF of your last 20 years of tax returns so we know how much you'll be losing.

I'm not the one making claims about my after-tax income. YOU ARE. I can make an argument against these tax cuts without invoking any personal information from anyone. You are unable to do that, relying purely on anecdotes that you expect others to approach with the same gullibility you have.

No you just claim to know what I'll be paying in taxes in the future as in this quote. So since you say you know that my taxes will be going up then prove it Asshole

Most middle class workers will end up paying more in taxes by 2027. Your highly emotional argument means nothing. The wealthy "keeping more of what they earned" results in higher fees, excise taxes, health care costs, education costs, and energy costs for you.

So you support raising your own taxes because you think the wealthy will trickle down their gain.

 

[Skull Pilot]

YEah because I will not post my info in the web

And since you won't do that, you can't credibly claim you will personally benefit. Which means this entire conversation has been a bunch of bullshit from you.

you stated that you knew my taxes would be going up so prove it

 

[The Derp]

Saying you're full of shit when you say Trump's net worth was zero and proving it with a link to a credible source is trolling now?

His net worth is zero. He has no cash on hand. Forbes is estimating his worth based on the worth of the assets he holds, not because he has a $3B cash money bin like Scrooge McDuck that he swims around in.

What Skull Pilot thinks wealth actually is:

 

[The Derp]

You're saying you're going to be paying more in taxes so prove it

If you make the median household income of $56K, you will be paying more in taxes by 2027.

 

[Skull Pilot]

Saying you're full of shit when you say Trump's net worth was zero and proving it with a link to a credible source is trolling now?

His net worth is zero. He has no cash on hand. Forbes is estimating his worth based on the worth of the assets he holds, not because he has a $3B cash money bin like Scrooge McDuck that he swims around in.

What Skull Pilot thinks wealth actually is:

So you do not know what net worth is.

Net worth is not cash on hand you MORON it is the value of your assets minus your liabilities

 

[Skull Pilot]

You're saying you're going to be paying more in taxes so prove it

If you make the median household income of $56K, you will be paying more in taxes by 2027.

That's not what you said

You said I support raising my own taxes implying that you know how much I will be paying in taxes so prove it.

 

[The Derp]

No you just claim to know what I'll be paying in taxes in the future as in this quote. So since you say you know that my taxes will be going up then prove it Asshole

That's because I am assuming you're an average, middle-class working nobody who makes the average median household income. That's what I'm basing my statement below on, and always have been. Until you can prove that you aren't an average, middle-class working nobody, you get lumped into the general average worker.

So put up or shut up.

 

[The Derp]

you stated that you knew my taxes would be going up so prove it

Because I assumed you were an average working class nobody. Am I wrong about that? I doubt it.