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50 % ++++Taxation...

Highball
Kristov and Dirj took great delight in declaring me criminally insane for saying that we are somewhere between 55-65 % taxed to death in America.

Boortz on his radio show today mentioned that there is a 22 % enbedded tax on anything and everthing you buy...as determined by several MIT researchers, and independent economists...

I paid 28 % tax off the top. I pay 9% state income tax.
That all adds up to a bit over 50 %....

I want them please to bombard me again with all their reasurrences again from the goverment sites..I am feeling myself back sliding into my 65 % mode again.....
Plus...by the way...ANY money demanded by the goverment is a 'tax'...no matter the slick-sounding phrases used to make the snit slide down our throats easier....
Say...for example...manditory insurance on a vehicle/drivers license/hunting license/fees for this...fees for that...
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Comments

79 comments

Date Votes
  • dlrjj
    quote:Originally posted by Bloviator
    [br
    I was kidding with him once before he sold his business, that I paid more taxes than he did, he immediately said "no".
    On every $1.00 of profit he made, he paid .78 or 79 cents in taxes [:0]. Now you have to consider this guy had the best of the best CPA's (several!) and a battery of tax attorneys to help keep his tax burden down to ONLY the above mentioned amount!


    I have had exactly the same thing happen myself, and likely for the exact same reason. If he has, as you stated, top accountants working for him, then you can be certain that they were able to minimize the "profit" that he was showing in any given year.

    That would not effect the taxes like property, SS, and excise taxes that he paid at all, so he still has a tax bill. It is quite common for those taxes to be a large percentage compared to the profit, if the profit has been able to be kept low. Your statement was that he paid $.79 in taxes for every dollar of profit he showed, and I would guess that that is VERY likely to be the case.

    I'm also curious what the year might have been since we were still dealing with a top rate of 70% until the 80's, when it was lowered while RR was in office. If it was during that time period, a high income person could have easily paid that when state and local taxes were added to the Federal Income Tax. The punitive nature of those taxes is why they were lowered.[:)]

    I'm somewhat surprised that he did not pay more in taxes than he had in profits, Exxon will pay roughly twice as much in taxes as they make in profits this year.[:)]

    BTW, Ford and GM will pay taxes this year on all kinds of property, etc. I wonder what percent that is of their income, since they both lost considerable amounts of money?[:)]
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  • stanman
    quote:I'm up in the top bracket of every tax
    quote:dropping the top bracket from 35% down to the 28% that highball is paying.
    quote: I'd invite you to the Big Canyon Country Club, where I am a member, for a round of golf and lunch
    MY toilets are cast of gold and the air FILLS with the scent of ROSE PETALS when I use them!![:0]
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  • Hunter Mag
    quote:BY DLRJJ But let's say that they don't. The original statement was that we pay 65% in taxes, and that was upped by several people to 75% or more. You have declared that my statement that we don't pay anywhere near that in taxes because your duplicative (I did not say duplicitous) methods of counting brings you to 45% and change. Please explain how that makes the statement that we don't pay anywhere near 65% incorrect, unless by your mathematical methodology, 45% has become a larger number than 65%.

    I really don't care what you pay in taxes, what K pays, or what Bill Gates pays. The statement was that WE pay 65% in all forms of taxes, and we quite clearly don't, even by YOUR estimates. What one individual pays is in no way indicative of what we pay collectively, and that was the original, and clearly incorrect, assertion I addressed. We have had top end Federal tax rates as high as 95% in past years and the Brits have had a top rate of 98%, but we don't currently pay any of those, so they just don't apply either.

    The 65% figure was pure claptrap, and by a huge margin of error, and that was easily established. If you bother to read my signature, you'll maybe begin to understand that I'm not the least bit a fan of taxes; I just don't care for off-the-wall inaccurate claims of fact.

    Since you have a problem with comprehension this will be my last attempt to tell you that your estimates of 18% or 30% tax rates are too low, also I never said 65-75% is too high. Some pay 1% and some pay 75% depends on how much you make. Sheeez IRS-101 here!! However the government collects more than 18% or 30% on average from the average worker. Sorry but this is as simple as I can put it.
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  • dlrjj
    They are not my estimates, they come from many reliable sources, not some off the wall nutjob site. They are also not for a total of 18%, just in case YOU have a problem with comprehension, and they never were in any portion or part. Nor did I claim that YOU said 65%, I pointed out that you would not accept the statement that I made that 65% was way off base, and that there are provable figures to support that idea.

    I clearly related to YOUR figure of 45%, and even gave YOU the benefit of doubt when I pointed out that even those figures did not make my original contention that the posted figure of 65% by ANOTHER poster was way off base.

    I gave you real figures, but you don't seem to like them, even though they come from the only sources that actually HAVE data related to the numbers involved. If you honestly feel that the IRS and related types of agencies etc. at all levels have no idea how much they receive, then so be it, but don't contend that I even implied that YOU said 65% when I did not. I clearly stated that the original statement was for 65%, and the original statement was made, surprise surprise, in the first post.
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  • joeaf1911a1
    Quote: " I do not support illegal immigration but I do not support turning this country into an armed camp in order to prevent it."
    Here I must disagree with you. If a "armed camp" is needed to stop
    this invasion of 12,000,000 to 20,000,000 illegal immigrants then I am all for a "armed camp". Immigration must be done legally and with rules
    followed completely.
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  • dlrjj
    quote:Originally posted by joeaf1911a1
    Quote: " I do not support illegal immigration but I do not support turning this country into an armed camp in order to prevent it."
    Here I must disagree with you. If a "armed camp" is needed to stop
    this invasion of 12,000,000 to 20,000,000 illegal immigrants then I am all for a "armed camp". Immigration must be done legally and with rules
    followed completely.
    Dang Joe, I sure don't disagree with the idea behind what you said, but I sure don't want to see an armed guard at every street corner and at every bus stop. If we get to that point, what point is there?[:)]
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  • Warpig883
    dlrjj has it nailed down pretty good
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  • HAIRY
    Gee, I got my refund back already. And the rate I pay? 0.85%.

    Great to be retired and collecting four pensions. I thank all of you taxpayers. Keep up the good work; I depend upon it. [:D][:D]
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  • COLT
    dlrjj The year and him I got into the tax disscussion was sometime in the early mid 80's. Being in Texas, and his incorporation was in Texas...we did/don't have state income tax.
    Yes, I would imagine his accts. could/did manipulate the "profit" he showed earned...[;)]
    ...see, I did come back and read it...no problem![:D]


    ani-texas-flag-1.gif
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  • RunForest
    quote:Originally posted by kristov
    I'm up in the top bracket of every tax so here is what I am paying:

    Federal Income Tax............35.00%
    California State Income Tax....9.30%
    Social Security Tax*.............1.75%
    Medicare Tax.......................1.45%
    Total tax burdern...............47.5%




    Kristov - I live in California and as far as I knew the state rate was higher ?
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  • Highball
    I see the problem here.
    The objection was to the "We pay 65% taxes"...the book keeper mentality instantly flipped out.Gathering figures like a madman, he disproved for all time that such a statement was impossible.

    What I should have said is..."The PRODUCTIVE people are paying 65%"...as I know full well that the guy flipping hamburgers 'biggy sizing that' generally get something called "Earned Tax Credits" that transalates into a couple grandof my money being funneled into his pockets...

    The problem with those that support big government is...fewer and fewer people are productive...so they have to juggle figures faster and faster...to convince you that you are taxed entirely too low...and the next 1% tax will bring nirvana...
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  • dheffley
    quote:Originally posted by Highball
    The problem with those that support big government is...fewer and fewer people are productive...so they have to juggle figures faster and faster...to convince you that you are taxed entirely too low...and the next 1% tax will bring nirvana...



    Truer words were never spoken, and many don't like to admit it, but ALL politicians regardless of party affiliation continue to move us in that direction.[V]
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  • Hunter Mag
    I've seen several comments that the rich don't pay any taxes yet they are in the highest tax brackets there are. Also most seem to hate the rich and think they're scum of the earth yet everyone wishes they were rich.
    Just an observation..............
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  • kristov
    quote:Originally posted by stanman
    quote:I'm up in the top bracket of every tax
    quote:dropping the top bracket from 35% down to the 28% that highball is paying.
    quote: I'd invite you to the Big Canyon Country Club, where I am a member, for a round of golf and lunch
    MY toilets are cast of gold and the air FILLS with the scent of ROSE PETALS when I use them!![:0]






    I'm guessing that you won't be joining highball and I for lunch? I tossed out my gold toilets a few years back and switched to platinum fixtures.
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  • kristov
    quote:Originally posted by RunForest
    quote:Originally posted by kristov
    I'm up in the top bracket of every tax so here is what I am paying:

    Federal Income Tax............35.00%
    California State Income Tax....9.30%
    Social Security Tax*.............1.75%
    Medicare Tax.......................1.45%
    Total tax burdern...............47.5%




    Kristov - I live in California and as far as I knew the state rate was higher ?


    You are correct forest because their is an additional "bonus" tax for those with incomes over the $1 million level. I'm not there...Sad to say [V].
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  • kyplumber
    When you pay taxes, you support terrorism.

    [:D]
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  • Dak To 68
    Post all the stats you want, stats can, and most often are, be manipulated to give a certain impression desired by the composer. They seldom tell the whole, or accurate, story. I have no problem with taxation, I realize they are necessary in our society. I do, as Kodiakk does, have a problem with what's done with the money, and the unfair burden on the common man. Don't post a bunch of "stats" to prove the "rich" pay their share. According to stats posted here on this subject I'm in the upper 5% of income in the U.S., the very low end of that 5%, and I sure don't feel or live like I'm rich, and I know my tax situation. I hate to think that 95% of the population makes less than I do, and I have a hard time believing that.
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  • HAIRY
    It's all Bush's fault! LOL
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  • joeaf1911a1
    Originally posted by joeaf1911a1

    Quote: " I do not support illegal immigration but I do not support turning this country into an armed camp in order to prevent it."
    Here I must disagree with you. If a "armed camp" is needed to stop
    this invasion of 12,000,000 to 20,000,000 illegal immigrants then I am all for a "armed camp". Immigration must be done legally and with rules
    followed completely.

    Dang Joe, I sure don't disagree with the idea behind what you said, but I sure don't want to see an armed guard at every street corner and at every bus stop. If we get to that point, what point is there?
    By a "Armed camp" I meant at the borders. If we cant control our borders from illegal invaders and utilize our existing laws on immigration we are dead ducks. Check out just how many hospitals, emergency rooms, and schools are in bad shape due to this illegal influx. Same reason our hospital plans have increased our costs, and
    local school taxes have increased rapidly along with prison costs.
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