not so golden arches

[dellinger63]

Originally Posted by Danzig

why do we hear complaints about people welfare, but not corporate welfare that's twice the spending? why are we sending hundreds of thousands of dollars to millionaires?

I suppose for similar reasons we don't hear about

Illegal immigrants residing in the U.S. send $50 billion in remittances to their home countries each year, according to the Bureau of Economic Analysis. The World Bank estimates that number is even higher, closer to $120 billion.

Or the fact why we don't hear about the top 1% paying 37% of personal income taxes or the top 20% paying 80% of the personal income taxes.

[somerfrost]

Originally Posted by dellinger63

I suppose for similar reasons we don't hear about

Or the fact why we don't hear about the top 1% paying 37% of personal income taxes or the top 20% paying 80% of the personal income taxes.

I suspect the average person would not complain about paying income tax if they were among the top 1% of earners....oh me, I have to pay such a high rate of taxes that it's gonna take me forever to make my next billion! Really Dell, those poor rick cats!

[Danzig]

Originally Posted by somerfrost

I suspect the average person would not complain about paying income tax if they were among the top 1% of earners....oh me, I have to pay such a high rate of taxes that it's gonna take me forever to make my next billion! Really Dell, those poor rick cats!

yes. poor little rich people, we really should stop picking on them....

i remember when they said romney paid what...11-12% tax? i paid 25% effective rate.
yeah, that makes sense.
people clamor for a flat tax (probably because they haven't thought about it much or looked at what it meant) but those same people gripe at me when i say why should i pay a higher percentage? they invariably say 'but he paid a larger dollar amount'. yes, and ......? if a flat tax says romney should pay 25%, why do i get grief when i mention i pay that, and he pays half that?
ah, inconsistencies, gotta love them. i actually had that conversation most recently at the wellness center. ah, um, uh, you're just jealous of rich people is no explanation for why this is.
why this is, is that people who have money pay to get rules set to keep their money. i can't do that.

and just think, if the wages were corrected for everyone, how much more money would flow from all the non-rich who game the system...

[dellinger63]

Originally Posted by Danzig

yes. poor little rich people, we really should stop picking on them....

i remember when they said romney paid what...11-12% tax? i paid 25% effective rate.
yeah, that makes sense.
people clamor for a flat tax (probably because they haven't thought about it much or looked at what it meant) but those same people gripe at me when i say why should i pay a higher percentage? they invariably say 'but he paid a larger dollar amount'. yes, and ......? if a flat tax says romney should pay 25%, why do i get grief when i mention i pay that, and he pays half that?
ah, inconsistencies, gotta love them...

Mitt Romney made $13.7 million last year (2011) and paid $1.94 million in federal income taxes, giving him an effective tax rate of 14.1%, his campaign said Friday.

He paid an effective rate of 14.1% because the vast majority of income made is investment income on money he has already been taxed on. He also was able to take a significant deduction for money he donated to charity ($4 million) or 29% of total income. So when you add taxes paid and money donated, it comes to a combined effective rate of 43.2% or 18.29% more than you paid.

BTW a person with an effective tax rate of 25% on a yearly income of $50K w/o any deductions including the personal exemption would pay $12,500 and would have to file over 155 years or three lifetimes of taxes to equal what Romney paid in a single year.

Hope that makes everyone crying 'unfair' feel a little bit better going into this Memorial Day weekend.

[jms62]

Originally Posted by dellinger63

He paid an effective rate of 14.1% because the vast majority of income made is investment income on money he has already been taxed on. He also was able to take a significant deduction for money he donated to charity ($4 million) or 29% of total income. So when you add taxes paid and money donated, it comes to a combined effective rate of 43.2% or 18.29% more than you paid.

BTW a person with an effective tax rate of 25% on a yearly income of $50K w/o any deductions including the personal exemption would pay $12,500 and would have to file over 155 years or three lifetimes of taxes to equal what Romney paid in a single year.

Hope that makes everyone crying 'unfair' feel a little bit better going into this Memorial Day weekend.

You realize these people you have such a raging boner for have made their money by breaking down businesses and cutting jobs and shipping jobs out of the country. The money lost from our economy in the way of purchasing power is in the trillions. The ball is being kept in the air by artificially low interest rates. Not much the fed can do if we hit another bad patch. Keep rooting for the scum that put us in this position cause this is America and you can be one of them. The fact that you are not one of them after 50 years notwithstanding.

[Danzig]

Originally Posted by jms62

You realize these people you have such a raging boner for have made their money by breaking down businesses and cutting jobs and shipping jobs out of the country. The money lost from our economy in the way of purchasing power is in the trillions. The ball is being kept in the air by artificially low interest rates. Not much the fed can do if we hit another bad patch. Keep rooting for the scum that put us in this position cause this is America and you can be one of them. The fact that you are not one of them after 50 years notwithstanding.

it's the same mentality that had dirt poor southerners fighting a war for their rich neighbors to be able to keep slaves...while the plantation owners sat on their verandahs watching their world crumble.

[dellinger63]

Originally Posted by Danzig

it's the same mentality that had dirt poor southerners fighting a war for their rich neighbors to be able to keep slaves...while the plantation owners sat on their verandahs watching their world crumble.

Yea it had nothing to do with State Rights v. Federal Rights.

Most of those poor southern dirt farmers loved D.C. telling them how to live.