Top 1% of Americans pay 34% of all taxes

[Almighty Colin]

According to presidential candidate Al Sharpton, "The top one percent in this country pays very much less than ten percent, very much less than five percent."

Sharpton said he thinks the wealthy should pay "somewhere around 15 percent."

But that's so silly because — and I bet most of you don't know this — the IRS says the richest 1 percent of taxpayers already pay 34 percent of all income taxes. Twice what Sharpton wanted them to pay.

Still you may feel the rich should pay even more. It's a tempting thought, since they have so much.

But let's remember the facts: the top 1 percent of Americans — those who earn more than about $300,000 a year — pay 34 percent, more than a third of all income taxes, and the top 5 percent, those making over $125,000, pay more than half.

From:
http://abcnews.go.com/sections/2020/2020/m...l_040123-6.html (http://abcnews.go.com/sections/2020/2020/myths_john_stossel_040123-6.html)



Last edited by Colin at Feb 23 2004, 11:07 AM

[Winetalk.com]

Meni and Al Sharpen...
perfect together
;-)))

[Mike AI]

People who play class envy should be hung!

This country will eventually implode because there is a very small minority who is carrying this country forward.... one day there will not be any tax base left...

[masterp74]

thank god I don't have to worry about being in the top 1%.



Top 8%, maybe..... :matey:

[Carrie]

Flat tax. Flat tax.
FLAT TAX!!









Did I mention I'm in heavy favor of a flat tax?

[Joe Sixpack]

Originally posted by Colin@Feb 23 2004, 08:05 AM
According to presidential candidate Al Sharpton, "The top one percent in this country pays very much less than ten percent, very much less than five percent."

Sharpton said he thinks the wealthy should pay "somewhere around 15 percent."

But that's so silly because — and I bet most of you don't know this — the IRS says the richest 1 percent of taxpayers already pay 34 percent of all income taxes. Twice what Sharpton wanted them to pay.

Still you may feel the rich should pay even more. It's a tempting thought, since they have so much.

But let's remember the facts: the top 1 percent of Americans — those who earn more than about $300,000 a year — pay 34 percent, more than a third of all income taxes, and the top 5 percent, those making over $125,000, pay more than half.

From:
http://abcnews.go.com/sections/2020/2020/m...l_040123-6.html (http://abcnews.go.com/sections/2020/2020/myths_john_stossel_040123-6.html)
How much of your country's wealth do that 1% own?

[Vick]

Originally posted by Joe Sixpack+Feb 23 2004, 03:04 PM--></span><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Joe Sixpack @ Feb 23 2004, 03:04 PM)</td></tr><tr><td id='QUOTE'><!--QuoteBegin--Colin@Feb 23 2004, 08:05 AM
According to presidential candidate Al Sharpton, "The top one percent in this country pays very much less than ten percent, very much less than five percent."

Sharpton said he thinks the wealthy should pay "somewhere around 15 percent."

But that's so silly because — and I bet most of you don't know this — the IRS says the richest 1 percent of taxpayers already pay 34 percent of all income taxes. Twice what Sharpton wanted them to pay.

Still you may feel the rich should pay even more. It's a tempting thought, since they have so much.

But let's remember the facts: the top 1 percent of Americans — those who earn more than about $300,000 a year — pay 34 percent, more than a third of all income taxes, and the top 5 percent, those making over $125,000, pay more than half.

From:
http://abcnews.go.com/sections/2020/2020/m...l_040123-6.html (http://abcnews.go.com/sections/2020/2020/myths_john_stossel_040123-6.html)
How much of your country's wealth do that 1% own?[/b][/quote]
Joe - what does that matter?
The top 1% earned it one way or another

I really don't see what it matters

The USA is not a power to the people, fuck the man kind of place

It's a country where you really can achieve and those that achieve are rewarded

What does how much someone owns matter?


edit - p.s. this thread just shows Sharpton is way off base and top wage earners pay more than anyone else in taxes



Last edited by Vick at Feb 23 2004, 03:15 PM

[wig]

Originally posted by Joe Sixpack+Feb 23 2004, 03:04 PM--></span><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Joe Sixpack @ Feb 23 2004, 03:04 PM)</td></tr><tr><td id='QUOTE'><!--QuoteBegin--Colin@Feb 23 2004, 08:05 AM
According to presidential candidate Al Sharpton, "The top one percent in this country pays very much less than ten percent, very much less than five percent."

Sharpton said he thinks the wealthy should pay "somewhere around 15 percent."

But that's so silly because — and I bet most of you don't know this — the IRS says the richest 1 percent of taxpayers already pay 34 percent of all income taxes. Twice what Sharpton wanted them to pay.

Still you may feel the rich should pay even more. It's a tempting thought, since they have so much.

But let's remember the facts: the top 1 percent of Americans — those who earn more than about $300,000 a year — pay 34 percent, more than a third of all income taxes, and the top 5 percent, those making over $125,000, pay more than half.

From:
http://abcnews.go.com/sections/2020/2020/m...l_040123-6.html (http://abcnews.go.com/sections/2020/2020/myths_john_stossel_040123-6.html)
How much of your country's wealth do that 1% own?[/b][/quote]
I do not own nearly enough! :P

Anyone have an idea of the breakdown of the 1%?

There is a big difference between Bill Gates, Warren Buffet, etc and the group that makes 300k+

[PornoDoggy]

Originally posted by Vick@Feb 23 2004, 03:14 PM
How much of your country's wealth do that 1% own?
Joe - what does that matter?
The top 1% earned it one way or another

I really don't see what it matters

The USA is not a power to the people, fuck the man kind of place

It's a country where you really can achieve and those that achieve are rewarded

What does how much someone owns matter?


edit - p.s. this thread just shows Sharpton is way off base and top wage earners pay more than anyone else in taxes[/quote]
Now wait just a minute here ... "what does it matter?" is a much dumber question than I expect to see you post, Vick.

Let's ask the question a different way ... on what % of total income, or what percent of assets taxed do that 1% own that caused them to pay the 34%?

Intelligent discussion of the question WITHOUT that information is impossible.

[PornoDoggy]

Originally posted by Mike AI@Feb 23 2004, 12:09 PM
People who play class envy should be hung!

This country will eventually implode because there is a very small minority who is carrying this country forward.... one day there will not be any tax base left...
Nice rhetoric, but pure USDA Certified Grade A BULLSHIT.

Got any facts to back it up? Can you prove a decline in business startups? Can you show a "brain drain" where the top producers are fleeing the country?

Whine on, brother Mike. Whine on.

[Peaches]

Originally posted by PornoDoggy@Feb 23 2004, 04:50 PM
Got any facts to back it up? Can you prove a decline in business startups? Can you show a "brain drain" where the top producers are fleeing the country?

Whine on, brother Mike. Whine on.
Why are businesses hiring offshore? Why are they physically moving offshore? Do you really think it's a stretch to say that individuals won't start doing the same for the same reasons? :(

[Vick]

Originally posted by PornoDoggy@Feb 23 2004, 03:47 PM
How much of your country's wealth do that 1% own?
Joe - what does that matter?
The top 1% earned it one way or another

I really don't see what it matters

The USA is not a power to the people, fuck the man kind of place

It's a country where you really can achieve and those that achieve are rewarded

What does how much someone owns matter?


edit - p.s. this thread just shows Sharpton is way off base and top wage earners pay more than anyone else in taxes
Now wait just a minute here ... "what does it matter?" is a much dumber question than I expect to see you post, Vick.

Let's ask the question a different way ... on what % of total income, or what percent of assets taxed do that 1% own that caused them to pay the 34%?

Intelligent discussion of the question WITHOUT that information is impossible.[/quote]
Flattery will get ya everywhere PD :awinky:

Obviously you and I have different viewpoints on this (which is a good thing)

My feeling is when you start looking at the taxation of top wage earners and then want to increase it (why else would this be an issue if the next step is an increase in taxation - or a revolution :awinky: or a ploy to get Sharpton eyes and votes)
and re-distribution of wealth happens (see raising taxes and entitlements and I am referring to undeserved entitlements) we've started down a slippery slope

and I know that's drifting a little from the topic

But it does come back to my "So what how much someone owns or earns" - the top 1% still bear the burden when you look at money TAKEN


and Serge has always made a good point, it's great to pay those taxes -

[OldJeff]

Originally posted by PornoDoggy@Feb 23 2004, 03:47 PM
Let's ask the question a different way ... on what % of total income, or what percent of assets taxed do that 1% own that caused them to pay the 34%?

Intelligent discussion of the question WITHOUT that information is impossible.
This looks like 2 different things to me.

% of total income

% of assets

For % of total income check the tax brackets

assets should not be taxed, not now, not ever, nor should estates, It is sickening to see people pay taxes on the money that their parents already paid taxes on.

Taxing assets is punishing people for saving money.

I agree with FLAT TAX, FLAT TAX

[Joe Sixpack]

I weep for the extremely wealthy.

I really do.

I can't imagine the suffering.





Last edited by Joe Sixpack at Feb 23 2004, 01:28 PM

[JR]

Originally posted by OldJeff+Feb 23 2004, 01:21 PM--></span><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (OldJeff @ Feb 23 2004, 01:21 PM)</td></tr><tr><td id='QUOTE'><!--QuoteBegin--PornoDoggy@Feb 23 2004, 03:47 PM
Let's ask the question a different way ... on what % of total income, or what percent of assets taxed do that 1% own that caused them to pay the 34%?

Intelligent discussion of the question WITHOUT that information is impossible.
This looks like 2 different things to me.

% of total income

% of assets

For % of total income check the tax brackets

assets should not be taxed, not now, not ever, nor should estates, It is sickening to see people pay taxes on the money that their parents already paid taxes on.

Taxing assets is punishing people for saving money.

I agree with FLAT TAX, FLAT TAX[/b][/quote]
:okthumb:

exactly. imagine how difficult it would be the play the Class Warfare card when everyone is being taxed an equal % of their income.

i am all for it. its much better than a system that ultimately punishes poor people because wealthier people are always going to get around everything.

[Winetalk.com]

Originally posted by Joe Sixpack@Feb 23 2004, 04:27 PM
I weep for the extremely wealthy.

I really do.

I can't imagine the suffering.
you can't because you are a pauper with mentalitet of the poor man.

[Joe Sixpack]

Originally posted by Serge_Oprano+Feb 23 2004, 01:31 PM--></span><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Serge_Oprano @ Feb 23 2004, 01:31 PM)</td></tr><tr><td id='QUOTE'><!--QuoteBegin--Joe Sixpack@Feb 23 2004, 04:27 PM
I weep for the extremely wealthy.

I really do.

I can't imagine the suffering.
you can't because you are a pauper with mentalitet of the poor man.[/b][/quote]
I am happy with my life. I have everything I need.

Can I offer you some tissues so you can cry about taxation?

[Winetalk.com]

Originally posted by Joe Sixpack+Feb 23 2004, 04:33 PM--></span><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Joe Sixpack @ Feb 23 2004, 04:33 PM)</td></tr><tr><td id='QUOTE'>Originally posted by -Serge_Oprano@Feb 23 2004, 01:31 PM
<!--QuoteBegin--Joe Sixpack@Feb 23 2004, 04:27 PM
I weep for the extremely wealthy.

I really do.

I can't imagine the suffering.
you can't because you are a pauper with mentalitet of the poor man.
I am happy with my life. I have everything I need.

Can I offer you some tissues so you can cry about taxation?[/b][/quote]
no, you are NOT happy....
Happy people from Australia do not go on the boards looking for faults in the country 8000 miles away from them to justify their pathetic existance.

You prove it over and over again, day after day...

Happy people, like ScottPB for example, just don't give a fuck
;-))))

[Hubby]

Originally posted by OldJeff+Feb 23 2004, 01:21 PM--></span><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (OldJeff @ Feb 23 2004, 01:21 PM)</td></tr><tr><td id='QUOTE'><!--QuoteBegin--PornoDoggy@Feb 23 2004, 03:47 PM
Let's ask the question a different way ... on what % of total income, or what percent of assets taxed do that 1% own that caused them to pay the 34%?

Intelligent discussion of the question WITHOUT that information is impossible.


% of total income

For % of total income check the tax brackets

[/b][/quote]
Those #s have nothing to do with assets owned. Those are strickly Income Tax #s. So it really doesn't matter what is owned, that isn't what is being represented here. Just what has been earned for the year.

[Joe Sixpack]

Originally posted by Serge_Oprano+Feb 23 2004, 01:36 PM--></span><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Serge_Oprano @ Feb 23 2004, 01:36 PM)</td></tr><tr><td id='QUOTE'>Originally posted by -Joe Sixpack@Feb 23 2004, 04:33 PM
Originally posted by -Serge_Oprano@Feb 23 2004, 01:31 PM
<!--QuoteBegin--Joe Sixpack@Feb 23 2004, 04:27 PM
I weep for the extremely wealthy.

I really do.

I can't imagine the suffering.
you can't because you are a pauper with mentalitet of the poor man.
I am happy with my life. I have everything I need.

Can I offer you some tissues so you can cry about taxation?
no, you are NOT happy....
Happy people from Australia do not go on the boards looking for faults in the country 8000 miles away from them to justify their pathetic existance.

You prove it over and over again, day after day...

Happy people, like ScottPB for example, just don't give a fuck
;-))))[/b][/quote]
Yes I am happy.

Sorry if that pisses you off.

:P

[Winetalk.com]

Originally posted by Joe Sixpack+Feb 23 2004, 04:42 PM--></span><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Joe Sixpack @ Feb 23 2004, 04:42 PM)</td></tr><tr><td id='QUOTE'>Originally posted by -Serge_Oprano@Feb 23 2004, 01:36 PM
Originally posted by -Joe Sixpack@Feb 23 2004, 04:33 PM
Originally posted by -Serge_Oprano@Feb 23 2004, 01:31 PM
<!--QuoteBegin--Joe Sixpack@Feb 23 2004, 04:27 PM
I weep for the extremely wealthy.

I really do.

I can't imagine the suffering.
you can't because you are a pauper with mentalitet of the poor man.
I am happy with my life. I have everything I need.

Can I offer you some tissues so you can cry about taxation?
no, you are NOT happy....
Happy people from Australia do not go on the boards looking for faults in the country 8000 miles away from them to justify their pathetic existance.

You prove it over and over again, day after day...

Happy people, like ScottPB for example, just don't give a fuck
;-))))
Yes I am happy.

Sorry if that pisses you off.

:P[/b][/quote]
you are happy only when you are on drugs...and it doesn't piss me off,
I just don't give a fuck...
I AM TRULY HAPPY
;-)))

[Nickatilynx]

The key to happiness and the meaning of life -

"I don't give a fuck"

Been saying it for years ;-))))

[Carrie]

Assets, post-tax savings, etc should have nothing to do with it.

Take the income that you EARNED during the year.
For every $1 that you earned, pay $0.15 in taxes.
Period, you're done... simple.
The people who aren't making much don't pay much, but they still pay. The folks making a lot pay a lot. Either way, they're both paying 15% of what they've EARNED.

The way it is now though...
You people over here take $0.15 of every dollar that you earn, let us hold it for you, and then we'll give you back $0.25 for every dollar at the end of April.

You folks over here, you pay your $0.25 per every dollar and let us hold it for you - at the end of April you won't get anything back, but you won't owe anything more, either.

You guys over there - you have nice houses and shiny cars. Fuck you. You take $0.34 out of every dollar and give it to us. And be happy about it.

This system is total bullshit.
I did my taxes today. Question after question after question. Digging up receipts. Going out to check the mileage on my van. Figuring up the "office space" in my home. How much my home has depreciated. Applying that to the office space. Giving the gov't full information on my children. Answering questions that were so personal I expected them to demand a full report of my bowel movements and number of sexual encounters with my husband for the past year.
Screw that.

Past the Name, address, and SS# section of the form, it should have three lines:
1. Enter your TOTAL income for the year: ________
2. Deduct 15% from the TOTAL income: ____-15%
3. This is the TOTAL tax you owe for 2003: _______

Badabing. Done. Write check, put form and check in envelope, stick a stamp on it and mail it off. 5 minutes.

[Almighty Colin]

Originally posted by Carrie@Feb 23 2004, 07:52 PM
Take the income that you EARNED during the year.
For every $1 that you earned, pay $0.15 in taxes.
Period, you're done... simple.
What do you think about deductions? Interest on real estate, etc.

Why 15%? By my estimate a 20% flat income tax with no deductions whatsoever would be required to maintain the current size of government. I'm all for a smaller government though.

Even 15% is not 15% with state and county sales taxes and so on.

[Almighty Colin]

Originally posted by Carrie@Feb 23 2004, 07:52 PM
I did my taxes today. Question after question after question. Digging up receipts. Going out to check the mileage on my van. Figuring up the "office space" in my home.
So you think there should be no business expenses? If I have a low profit business in which I spend $100,000 to make $106,000 I should pay taxes on the $106,000 and not the $6,000?

[OldJeff]

With a flat tax yu would pay 15% of the 6,000 Colin, that is the income from that low profit business

[Almighty Colin]

Originally posted by OldJeff@Feb 24 2004, 09:13 AM
With a flat tax yu would pay 15% of the 6,000 Colin, that is the income from that low profit business
I understand what a flat tax is.

What I am pointing out is that Carrie mentions a flat tax and that she doesn't like going through all her receipts, figuring out car mileage, etc. Those are the costs of doing business though. If you have a home office that is a legitimate cost of doing business. Carrie's flat-tax won't change that.

[PornoDoggy]

Originally posted by Colin+Feb 24 2004, 09:55 AM--></span><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Colin @ Feb 24 2004, 09:55 AM)</td></tr><tr><td id='QUOTE'><!--QuoteBegin--OldJeff@Feb 24 2004, 09:13 AM
With a flat tax yu would pay 15% of the 6,000 Colin, that is the income from that low profit business
I understand what a flat tax is.

What I am pointing out is that Carrie mentions a flat tax and that she doesn't like going through all her receipts, figuring out car mileage, etc. Those are the costs of doing business though. If you have a home office that is a legitimate cost of doing business. Carrie's flat-tax won't change that.[/b][/quote]
Please refrain from clouding the issue with relevant facts.

[Dravyk]

Originally posted by Colin@Feb 24 2004, 08:34 AM
Why 15%? By my estimate a 20% flat income tax with no deductions whatsoever would be required to maintain the current size of government. I'm all for a smaller government though.
Does it matter? If it were to cover the government now, then Bush willl find more ways to further increase the massive deficit so that a higher tax percentage will be required anyhow. :D

[Vick]

Pssss
Try this one on for size

National Sales Tax instead of income tax - gets revenue from .....
oh let's say those who don't "normally" pay taxes

[Dravyk]

Originally posted by Vick@Feb 24 2004, 02:03 PM
Pssss
Try this one on for size

National Sales Tax instead of income tax - gets revenue from .....
oh let's say those who don't "normally" pay taxes
Damned, radicals! :P

[Meni]

We are the richest country in the world right?
I can tell when I visit the ghettos and trailer parks

Lets worry about banning gay marriages, and fixing Iraq
and censoring radio and tv that is "indecent"
and forget about umemployment and social issues
sure oprano is full of rich guys
godbless you guys
you still have pests in your walls

[Peaches]

Originally posted by Meni@Feb 24 2004, 03:05 PM
We are the richest country in the world right?
I can tell when I visit the ghettos and trailer parks
And the vast majority of people living in them are doing so by "choice". i.e. they made a choice to have kids they couldn't afford, they made a choice not to learn a skill or get an education, they made a choice to be a drug addict/alcoholic, they made a choice not to have health insurance, they made a choice to buy a big screen TV instead of saving for a nicer place to live, etc.

America IS the land of opportunity for those who truly want it. Why in the world should my tax dollars go towards giving these people something they never worked for? :unsure:

[Meni]

when I grow up I wanna live in a slum with a rent a center tv


Yes I know my enemies They're the teachers who taught me to fight me Compromise, conformity, assimilation, submission Ignorance, hypocrisy, brutality, the elite All of which are American dreams

[Vick]

Originally posted by Meni@Feb 24 2004, 02:24 PM
when I grow up I wanna live in a slum with a rent a center tv

When I grow up I want to own the rent-a-center that rents TV's to poor ignorants fucks

Of course I don't want to have to staff it myself, that's a position for someone else

he he he

[Meni]

I just hope they don't ban gay marriages
then my holy union with mikew will be voided
then I can't take the viper in our divorce
or the house
or the tv
or the pest control
provided by Alco Pest Control, Coconut Creek FL

[Torone]

Did y'all ever stop and think how many taxes you pay besides your own income taxes?

You pay 15%
You spend what's left.
You're paying the merchant's income taxes, whatever gasoline taxes are involved, his ad valorem taxes, his share of his employee taxes, his self-employment taxes, ad infinitum, ad nauseum. A pack of cigarettes would still cost about $.025 without all the taxes.

[PornoDoggy]

Originally posted by Vick+Feb 24 2004, 02:31 PM--></span><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Vick @ Feb 24 2004, 02:31 PM)</td></tr><tr><td id='QUOTE'><!--QuoteBegin--Meni@Feb 24 2004, 02:24 PM
when I grow up I wanna live in a slum with a rent a center tv

When I grow up I want to own the rent-a-center that rents TV's to poor ignorants fucks

Of course I don't want to have to staff it myself, that's a position for someone else

he he he[/b][/quote]
When the revolution comes, I will personally firebomb your store.

That's assuming that [Labret] doesn't pop a cap in my head as he has said he will do ... silly college boy.

[Vick]

Originally posted by PornoDoggy+Feb 24 2004, 11:55 PM--></span><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (PornoDoggy @ Feb 24 2004, 11:55 PM)</td></tr><tr><td id='QUOTE'>Originally posted by -Vick@Feb 24 2004, 02:31 PM
<!--QuoteBegin--Meni@Feb 24 2004, 02:24 PM
when I grow up I wanna live in a slum with a rent a center tv

When I grow up I want to own the rent-a-center that rents TV's to poor ignorants fucks

Of course I don't want to have to staff it myself, that's a position for someone else

he he he
When the revolution comes, I will personally firebomb your store.

That's assuming that [Labret] doesn't pop a cap in my head as he has said he will do ... silly college boy.[/b][/quote]
Will the revolution then replace my store?

Is there insurance after the revolution?

Or will all my big screen TV's belong to the people? :P

[Joe Sixpack]

Originally posted by Vick+Feb 24 2004, 11:06 PM--></span><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Vick @ Feb 24 2004, 11:06 PM)</td></tr><tr><td id='QUOTE'>Originally posted by -PornoDoggy@Feb 24 2004, 11:55 PM
Originally posted by -Vick@Feb 24 2004, 02:31 PM
<!--QuoteBegin--Meni@Feb 24 2004, 02:24 PM
when I grow up I wanna live in a slum with a rent a center tv

When I grow up I want to own the rent-a-center that rents TV's to poor ignorants fucks

Of course I don't want to have to staff it myself, that's a position for someone else

he he he
When the revolution comes, I will personally firebomb your store.

That's assuming that [Labret] doesn't pop a cap in my head as he has said he will do ... silly college boy.
Will the revolution then replace my store?

Is there insurance after the revolution?

Or will all my big screen TV's belong to the people? :P[/b][/quote]
You'll be executed as an enemy of the people.

[Vick]

To quote Axl Rose

I see ya standing there
You thing you're so cool
Why don't you just fuck off

You get nothing for nothing if that's what you do
Turn around bitch I got a use for you
Besides you ain't got nothing better to do
and I'm bored

[Carrie]

Originally posted by PornoDoggy+Feb 24 2004, 10:56 AM--></span><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (PornoDoggy @ Feb 24 2004, 10:56 AM)</td></tr><tr><td id='QUOTE'>Originally posted by -Colin@Feb 24 2004, 09:55 AM
<!--QuoteBegin--OldJeff@Feb 24 2004, 09:13 AM
With a flat tax yu would pay 15% of the 6,000 Colin, that is the income from that low profit business
I understand what a flat tax is.

What I am pointing out is that Carrie mentions a flat tax and that she doesn't like going through all her receipts, figuring out car mileage, etc. Those are the costs of doing business though. If you have a home office that is a legitimate cost of doing business. Carrie's flat-tax won't change that.
Please refrain from clouding the issue with relevant facts.[/b][/quote]
OldJeff:
"With a flat tax yu would pay 15% of the 6,000 Colin, that is the income from that low profit business"

Thanks Jeff!
It's nice to be busy for the day and have someone else throw some common sense into PD's never-ending eye-rollers.

[Vick]

and I've already given the answer to this challenge in this thread

National Sales Tax ......

[PornoDoggy]

Originally posted by Carrie+Feb 25 2004, 02:23 AM--></span><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Carrie @ Feb 25 2004, 02:23 AM)</td></tr><tr><td id='QUOTE'>Originally posted by -PornoDoggy@Feb 24 2004, 10:56 AM
Originally posted by -Colin@Feb 24 2004, 09:55 AM
<!--QuoteBegin--OldJeff@Feb 24 2004, 09:13 AM
With a flat tax yu would pay 15% of the 6,000 Colin, that is the income from that low profit business
I understand what a flat tax is.

What I am pointing out is that Carrie mentions a flat tax and that she doesn't like going through all her receipts, figuring out car mileage, etc. Those are the costs of doing business though. If you have a home office that is a legitimate cost of doing business. Carrie's flat-tax won't change that.
Please refrain from clouding the issue with relevant facts.
OldJeff:
"With a flat tax yu would pay 15% of the 6,000 Colin, that is the income from that low profit business"

Thanks Jeff!
It's nice to be busy for the day and have someone else throw some common sense into PD's never-ending eye-rollers.[/b][/quote]
I understood what Colin meant when he said "[your] flat-tax won't change that" as meaning that you are STILL going to have to fill out all the forms and do all the calculations, computations, and mean, nasty, terribly intrusive things you are doing right now/just did. So, the issue that I was addressing wasn't how much Colin would pay taxes on - it's the fantasy that taxes will EVER be as simple as you (or I, or anyone else) would like them to be.

I don't think it is that hard to understand - it's not anything complicated like the party affiliations of past presidents...

[chodadog]

There seems to be this common belief that the rich people of the world pay next to nothing in taxes 'caues of the countless loopholes their accountants take advantage of. And while i'm sure their accountants are doing absolutely everything within the boundaries of the law to serve their client, the fact remains that rich people are paying the bulk of the taxes. Yet poor people will continue to whine about how much tax they pay, and bitch about how the rich pay nothing, until the end of time.

Many poor people are poor for a good reason. They're stupid.

[chodadog]

Originally posted by Vick@Feb 24 2004, 11:25 PM
and I've already given the answer to this challenge in this thread

National Sales Tax ......
I agree. A GST (goods and services tax) is a great idea, in my opinion. Rich people buy more stuff, and use more services. Thus, they pay more taxes. They have one in Australia, but it's only 10 percent. Hike it up, and cut income taxes, i say.

[Rolo]

I had this great idea, that we would just get a bill for whatever we used, and not have some other people make us pay % of our total income.
Then I realized that paying tax is not about making an efficient
economy, but about handing over your power/freedom/money too politicians, so they can control your life.

Tax is evil - no matter which form it takes... :(

[Meni]

I'm all set now!!
woohoo
I'm setting up a Religion
yeah baby
only in America!

[Meni]

wow what song just popped in my head?
"send me money, send me green, heaven you meet, make a contribution and you'll get the better seat.... bow to Leper Messiah"

[Vick]

god money i'll do anything for you
god money just tell me what you want me to
god money nail me up against the wall
god money don't want everything he wants it all


god money's not looking for the cure
god money's not concerned about the sick among the pure
god money let's go dancing on the backs of the bruised
god money's not one to choose

[gregtx]

Originally posted by Vick@Feb 24 2004, 11:25 PM
and I've already given the answer to this challenge in this thread

National Sales Tax ......
I hear ya.. I preach this as well.. it would be so much easier for the IRS to police businesses.. vs induvidual.. and the more you make the more you spend.. the more taxes you pay.. but I"m sure CPA lobbyist groups.. and other people who benefit from the current IRS/TAX situation .. would never want anythign that would take away from thier jobs... H&R block would go bankrupt not being able to file its millions of 1040EZ's ;-)



Last edited by gregtx at Feb 25 2004, 05:08 PM

[VooMan]

Originally posted by gregtx@Feb 25 2004, 08:07 PM
but I"m sure CPA lobbyist groups.. and other people who benefit from the current IRS/TAX situation .. would never want anythign that would take away from thier jobs... H&R block would go bankrupt not being able to file its millions of 1040EZ's ;-)
And God help the president who is in office when this happens...

Mind you, I am also in favor of a flat tax on consumption, but imagine the headlines: President puts millions of government employees out of work! H&R Block, along with hundreds of thousands of accountants are looking for jobs. The economy is in the toilet, spending is down... The Dow is crumbling... blah blah blah...

[JR]

Originally posted by VooMan+Feb 25 2004, 07:18 PM--></span><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (VooMan @ Feb 25 2004, 07:18 PM)</td></tr><tr><td id='QUOTE'><!--QuoteBegin--gregtx@Feb 25 2004, 08:07 PM
but I"m sure CPA lobbyist groups.. and other people who benefit from the current IRS/TAX situation .. would never want anythign that would take away from thier jobs... H&R block would go bankrupt not being able to file its millions of 1040EZ's ;-)
And God help the president who is in office when this happens...

Mind you, I am also in favor of a flat tax on consumption, but imagine the headlines: President puts millions of government employees out of work! H&R Block, along with hundreds of thousands of accountants are looking for jobs. The economy is in the toilet, spending is down... The Dow is crumbling... blah blah blah...[/b][/quote]
accounting in relation to filing personal income taxes is a massive industry that should not exist in my opinion.

[VooMan]

Heh, I aced my tax classes, but I hated financial accounting. :)

In our opinion, based on the information provided to us by the corporation of Dewey, Cheatem, and Howe, on 12/31/20XX the financial statements provided herein, are about right, give or take...