The people in these income brackets are living on dividend income from investments, which is not taxed as income. Even if you used every exemption available to you, personally, you still wouldn't pay nothing in taxes unless you were living solely on dividends, which is what Mitt Romney and his ilk are doing. That's why he wouldn't release his tax information when he was running for president.
The wealthy would love you to believe it's because you don 't have a great tax lawyer.
Capital gains, (investment income) is not taxed as income. It has a much lower tax rate, and even then is only taxed if you cash it in for cash instead of reinvesting it. If you live on dividends, you don't get taxed on income.
$5.6 Trillion dollars is collected at the local, state, and federal level in taxes each year. Isn't that enough? Be honest with yourselves for a second. Can't everything you people want governments to do this year be done with the $5.6 Trillion collected this year? If not, how much is enough?
Well, somehow we managed to get a government surplus at the end of Clinton's two terms, and I'm sure a tax rate of 39% on incomes of $300K+ helped. And let's not forget that during the boom of the fifities the rate on such incomes was as high as 91%, and even under Reagan, taxes didn't go below 50% on $300K+ until 1987, just in time to start off the recession that cost Bush Senior a second term.
And I'm sure that raising taxes on incomes as high as $300K+ is not even gonna touch YOU, so stop being so anti-tax on the wealthy.
Oh, every single one of your relatives makes over $300,000 a year? Riiiiiiiiiiiiiiiiight. You're so full of shit you're leaking. You just don't want the wealthy to pay higher taxes because you THINK all of your relatives will someday be earning that much, or you truly believe in the trickle-down theory.
In any case, who gives two shits about the relatives of on expatriate who left the country and now enjoys all the benefits of a socialist democracy which he otherwise despises, or at least would despise in the USA?
I didn't say every single one. My brother does. But this is neither here nor there. The point is that there's never enough taxes collected for you morons.
Again, you're full of shit. We "morons" believed there were enough taxes collected when we had a budget surplus.
So what's your beef now that you're no longer an American? Your rich brother? Come on. You'd prefer that he keep his taxes low while the rest of your family pays out the ass? What a criminal mind you have.
You're a trickle-downer, even stupider than I thought. The country has always done better with higher taxes on incomes of $300K+, from 91% during the boom of the 1950's to 50% at the height of the Reagan years to 39% under Clinton (which helped to leave us with a surplus subsequently squandered by GW.) There's not one bit of evidence that lower taxes on incomes of $300K+ has been beneficial to ANYBODY, but obviously you're one of those trickle-downer idiots. You might as well believe in fairies, you moron. The fact of the matter is that when your brother and his ilk pay more the entire country does better. Taxes have to be paid to keep the country running, and it's proven to help ALL of society AND the world when the bulk of those taxes are paid by people earning incomes of $300K+. What is your goddamn problem with this very fact? Are you that much of an asskisser to your brother?
Is that right? I don't believe in state supremacy over the federal government, if that's what you're getting at. Do I believe that Federal law supercedes state law? I do indeed. Do I believe the American state (i.e., country) is superior to all other states (countries)? Absolutely not. So where am I state supremacist? You tell me, asshole.
Just so you know, people in other countries (like Italy for example), use the word "state" to refer to the overarching system of government, whatever that may be. They do not have a separation between "state" and "federal".
Sorry, but this discussion is taking place in the USA, so the term "state" does not have the same meaning as it does internationally. If, however, you mean that I believe in the federal government, I do indeed. There are many things that cannot be successfully run by private industry, which is profit-based. These include clean air, clean water, a well-equipped military, a well-maintained national highway and/or freeway system, and many other non-profit enterprises. That's why a federal government is needed for a country as large as the USA. We've seen what happens when private industry takes over the prison system; to maintain a profit, it must cut corners here and there, which means increased violence, poorly-trained guards, etc. We've also seen what happens when private enterprise industry assumes responsibility for toll roads at the public's expense; the toll roads in Southern California have been operating at a loss and are not expected to even begin to go into the black until 2042. The fact of the matter is that the goal of private industry is to make a profit, and there are certain enterprises that simply aren't capable of doing so, and those are all enterprises that contribute to the public good. That's why a central state (or federal government) is necessary.
No, that's not what it's all about. The people in these income brackets are living on dividend income from investments, which is not taxed as income. Even if you used every exemption available to you, personally, you still wouldn't pay nothing in taxes unless you were living solely on dividends, which is what Mitt Romney and his ilk are doing. That's why he wouldn't release his tax information when he was running for president.
The wealthy would love you to believe it's because you're stupid enough not to use all your exemptions. Looks like you bought into that lie, like many, many others.
OK, it is taxed differently and under the different heading. Actually this makes your pic rather misleading, because when people see it they would assume that those listed paid no taxes on all kinds of income they had, whereas they may have paid zero income tax, but simultaneously paid something in dividend taxes.
What is paid in dividend taxes doesn't even come close to what would be paid in income taxes if dividends were rightly taxed as income. That makes a huge difference in the overall taxes actually paid.
And Mitt Romney is supposedly the leading contender (http://abcnews.go.com/blogs/politics/2014/10/romney-leads-scattered-2016-gop-field-clinton-still-dominates-the-democratic-race/) for the GOP presidential nomination in 2016. If I have to spend another election cycle staring at that smug, pompous assface, I may start punching holes in walls.
Although come to think of it, I can't stand any of the other likely GOP candidates, either. Some I hate even more than Mittens. So I may end up punching some holes no matter who runs!
"If I have to spend another election cycle staring at that smug, pompous assface, I may start punching holes in walls." Print some portraits of him and use on a shooting range or in darts games. Really soothes the nerves. I have tried it.
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timeasmymeasure
no subject
Date: 2014-10-21 10:24 am (UTC)no subject
Date: 2014-10-21 07:13 pm (UTC)no subject
Date: 2014-10-22 10:16 pm (UTC)The wealthy would love you to believe it's because you don 't have a great tax lawyer.
no subject
Date: 2014-10-22 06:41 am (UTC)no subject
Date: 2014-10-22 09:55 pm (UTC)no subject
Date: 2014-10-21 12:15 pm (UTC)no subject
Date: 2014-10-21 03:44 pm (UTC)no subject
Date: 2014-10-21 05:21 pm (UTC)no subject
Date: 2014-10-22 11:05 am (UTC)$5.6 Trillion dollars is collected at the local, state, and federal level in taxes each year. Isn't that enough? Be honest with yourselves for a second. Can't everything you people want governments to do this year be done with the $5.6 Trillion collected this year? If not, how much is enough?
no subject
Date: 2014-10-22 09:54 pm (UTC)And I'm sure that raising taxes on incomes as high as $300K+ is not even gonna touch YOU, so stop being so anti-tax on the wealthy.
no subject
Date: 2014-10-22 10:24 pm (UTC)no subject
Date: 2014-10-22 10:27 pm (UTC)So you live in Italy. I doubt that a tax increase on incomes of $300K+ is going to touch any members of your family, either, so stop whining.
no subject
Date: 2014-10-22 11:37 pm (UTC)no subject
Date: 2014-10-22 11:50 pm (UTC)In any case, who gives two shits about the relatives of on expatriate who left the country and now enjoys all the benefits of a socialist democracy which he otherwise despises, or at least would despise in the USA?
no subject
Date: 2014-10-23 04:46 am (UTC)no subject
Date: 2014-10-23 04:56 am (UTC)So what's your beef now that you're no longer an American? Your rich brother? Come on. You'd prefer that he keep his taxes low while the rest of your family pays out the ass? What a criminal mind you have.
no subject
Date: 2014-10-23 07:48 am (UTC)no subject
Date: 2014-10-23 08:03 am (UTC)You're a trickle-downer, even stupider than I thought. The country has always done better with higher taxes on incomes of $300K+, from 91% during the boom of the 1950's to 50% at the height of the Reagan years to 39% under Clinton (which helped to leave us with a surplus subsequently squandered by GW.) There's not one bit of evidence that lower taxes on incomes of $300K+ has been beneficial to ANYBODY, but obviously you're one of those trickle-downer idiots. You might as well believe in fairies, you moron. The fact of the matter is that when your brother and his ilk pay more the entire country does better. Taxes have to be paid to keep the country running, and it's proven to help ALL of society AND the world when the bulk of those taxes are paid by people earning incomes of $300K+. What is your goddamn problem with this very fact? Are you that much of an asskisser to your brother?
no subject
Date: 2014-10-23 03:15 am (UTC)no subject
Date: 2014-10-23 04:47 am (UTC)no subject
Date: 2014-10-23 04:57 am (UTC)no subject
Date: 2014-10-23 07:49 am (UTC)no subject
Date: 2014-10-23 07:55 am (UTC)no subject
Date: 2014-10-23 09:20 am (UTC)no subject
Date: 2014-10-23 10:47 pm (UTC)no subject
Date: 2014-10-23 01:01 pm (UTC)no subject
Date: 2014-10-22 02:21 pm (UTC)no subject
Date: 2014-10-22 10:14 pm (UTC)The wealthy would love you to believe it's because you're stupid enough not to use all your exemptions. Looks like you bought into that lie, like many, many others.
no subject
Date: 2014-10-23 12:07 pm (UTC)no subject
Date: 2014-10-23 10:50 pm (UTC)no subject
Date: 2014-10-22 04:25 pm (UTC)Although come to think of it, I can't stand any of the other likely GOP candidates, either. Some I hate even more than Mittens. So I may end up punching some holes no matter who runs!
no subject
Date: 2014-10-23 12:05 pm (UTC)no subject
Date: 2014-10-23 12:08 pm (UTC)Print some portraits of him and use on a shooting range or in darts games. Really soothes the nerves. I have tried it.