9 Things The Rich Don't Want You To Know About Taxes

[guido911]

guido said;

The rich are being "horribly mistreated"? How about the lower/middle class getting a free ride on the rich folk's backs. Sheesh, Sheen sees the point. All of us should have at least some skin in the game. However, you appear okay with almost half of us paying no income tax while hitting up the other half for more money.

And for finality, stop with your dumb@ssed understanding of what I pay in taxes. I am not Buffett or any other millionaire/billionaire. After the meager deductions I still qualify for, I pay much higher tax rate than your uninformed and ignorant brain believes.


And now for something entirely different - reality!!

Ahhh...the name calling again!  Yeah, team.  Good to know we can always count on guido to revert.  At least there is one point of stability in this world!

I wonder sometimes how someone can get through a college education with no better comprehension skills?  Oh, wait, there IS the George W. Bush example...

As has been explained so many times before, the poor are not exempt from income taxes as the RWRE would have you believe.  You know this for a fact, and yet persist in the misinformation and lies!  And the percentage they pay is on a par with anything you pay - unless of course most of what they buy is from GE.

As for your tax situation - well, I am sorry you only get a 14% break over what I and so many on a W-2 have to pay on every penny over the $106,000 or so...  

And as for the rest of the other 15% or so break, well I submit that is your own ignorance (see, not the only one who can do name calling!) for not listening to me about ISO's.  I hand it to you on a silver platter, and all you can do is blather the RWRE script!  What are we gonna do with you??  Buy you books, send you to school, and what?  Become a lawyer....  well, we tried!

As for paying the same rates as the rich??  Would that the bulk of the middle class could get by at such low rates!!  Your failure to learn how to "game the system" does not constitute either uninformed or ignorant on my behalf!  I DO understand how they game the system.  (And yes, I admit, I would love to be there with you!  Class envy, and all that...)

The big problem is that Warren Buffet, Bill Gates, and John Bogle, among hundreds of others of the richest have been saying for years how unfair the system is.  And they are the ones that can be believed.  Not Murdoch/Rove/Cheney, LLC.

Calling me a liar? Did you read my link which says almost half do not pay federal income tax. Do you disagree or have an alternative source? If not, shut the hell up. And while we are at it, are you telling us that you earn a six figure income and pay more in FICA/tax than I do? And in your mind I am the economic moron?

Oh, and because some uber-rich think the tax system is unfair ipso facto makes it so? You are a real dumbass.

[nathanm]

Calling me a liar? Did you read my link which says almost half do not pay federal income tax.

And yet they pay more in total tax as a percentage of their income. Quit your whining.

[heironymouspasparagus]

He is a whiner.  What can ya say....

Calling you a liar?  Depends on whether you embrace the lies of the extremist RWRE who have this particular point in their script 24/7, and then repeat it!  With the exception of GE and a few other select corporations, the pass through income taxes are paid NOT by the corporation, but by the people who buy their product.  This is such simple Econ 101, I cannot believe you are so unable to comprehend.  These same people, who are in the bottom 50% of the incomes in this country may well not have a tax due on the 1040 - in fact, several of those who I help from time to time with their tax forms are in that category.

The TRUTH, though, is that they indeed DO pay income tax in this country, and many at a greater rate than if they could pay only the tax from the tax tables in the 1040 instructions. 

And while I cannot pay more than you, yes, I pay as much FICA tax as you do.  So there.... naw, naw, naw, naw, naw!!  And it IS a much greater percentage of my income than what YOU have to pay.  (Source; your comments about being one of the rich...)

But wait!!  You have a corporation to hide in, so if you were at all intelligent, you would pay yourself a nominal salary, say, $50,000 per year.  Enough to be a reasonable wage to keep the IRS off your back, but not enough so you would be stuck like those poor suckers who have to work for a living, paying on the whole $106,000 of salary.

Just another 50,000 or so where you get to enjoy the benefit of that cute little 14% tax break.  Or putting it in dollars, over $7,000 in extra money you get to avoid paying taxes on!!  Is this a great country or what??  Now that I think it through, yeah, I bet I do pay more in FICA than you do, in absolute terms, as well as percentages!

And, with the realization that this doesn't even make it in one ear to be able to go out the other, others may benefit - it is not just the uber-rich that think the tax system is unfair.  The vast majority of the people in this country feel likewise.  And they are right!  It IS class warfare, but not the way the RWRE wants you to believe.  It IS redistribution of wealth, again, not the way the RWRE wants you to believe.

But the 'regular' people in this country don't have the resources to buy their own Congress like "your kind" does.  And that IS wrong!

Ahhhh, what sweet endearments - would have thought that attending law school would helped with a vocabulary and methods to create a reasoned argument or at least make a case.  But hey, if name calling is all you got,...go for it!!

What is so amazing is that you actually think it IS fair, and you DO feel "entitled" (THAT'S what is meant by entitlement!) because you are just sooo special....  Like the other top 1%ers.

[guido911]

And yet they pay more in total tax as a percentage of their income. Quit your whining.

You going to answer my questions about three pages back or punk out?

[Conan71]

It IS class warfare, but not the way the RWRE wants you to believe.  It IS redistribution of wealth, again, not the way the RWRE wants you to believe.

If wealth redistribution is such a great success, why are so many people chronically under-employed, unemployed, and living in poverty?

[Gaspar]

If wealth redistribution is such a great success, why are so many people chronically under-employed, unemployed, and living in poverty?

Everyone has learned to eat for a day. . .no one has to fish.

[RecycleMichael]

Give a man a fish and he can eat for a day.
Give a man a job and he can eat for an hour, usually between noon and one.

[Red Arrow]

Give a man a fish and he can eat for a day.
Give a man a job and he can eat for an hour, usually between noon and one.

But at least he can vary his diet.

I would get tired of fish all the time.

[Gaspar]

[nathanm]

You going to answer my questions about three pages back or punk out?

I see no question directed at me "about three pages back."

[guido911]

I'm curious Nate, what is the most you have ever paid in federal income tax? Is it in the six figure area? Doubtful since you are so quick to want to tax people even more who pay that in tax. Try something for me. Think about writing a 6 figure check to the U.S. Treasury not once, but every year you work through retirement. This is what many many people do--and they aren't earning millions a year in taxable income. Do you think that is fair?

I personally cannot fathom how someone could even think that another person that is already paying 5 to 10 times as much as you in fed taxes is not paying enough. The only conclusion I can reach is that sort of thinking is rooted in envy. Pretty sad.

Here ya go Nate.

[heironymouspasparagus]

By that so completely warped and twisted logic, then the nephew who pays about $380 per year should be my gauge so that I should never have to pay more than about $1200 (about 3 times the income).  Wow, would I love that!! 

So, if I should only pay 1,200, then guido should only have to pay about $3,800 on that $400,000 income (about 3 or 4 times the income?).  Or less than 1%.  Yeah, that would be so much more fair.  I'm ready for that - let's get it started.

10 times what the lower income pays at a 1% rate - nice!

[guido911]

By that so completely warped and twisted logic, then the nephew who pays about $380 per year should be my gauge so that I should never have to pay more than about $1200 (about 3 times the income).  Wow, would I love that!! 

So, if I should only pay 1,200, then guido should only have to pay about $3,800 on that $400,000 income (about 3 or 4 times the income?).  Or less than 1%.  Yeah, that would be so much more fair.  I'm ready for that - let's get it started.

10 times what the lower income pays at a 1% rate - nice!

Who are you bleating at?

[nathanm]

Here ya go Nate.

No, I have never had to pay $100,000 in tax in a year. That would be a greater than 100% tax for me. The absolute number is unimportant. What is important is the percentage of income and/or wealth. Besides, 6 figures in income tax is piddling. You can complain when it's over a million. After all, I know someone who pays 7 figures in income tax most years.

Personally, each time I get a raise and see my tax go up, I'm happy. Why? Because I made more money.

[guido911]

The absolute number is unimportant. What is important is the percentage of income and/or wealth.

Well of course to you the percent is more important than the total paid because you have ZERO context/understanding of what it is like to pay big money, which is my entire point. How many years would it take you to even pay 100K in taxes, yet still argue that the rich are not paying enough? I find your type to be nothing more than jealous ingrates.   

As for six figure taxes being "piddling", write the check then.