Posted on 01/24/2012 9:27:43 PM PST by Steelfish
Removing deductions on the “wealthy” rather than raising rates is exactly the philosophy Daniels espoused in his response. Only trouble is, Obama got to exactly that an hour earlier.
How do you get around paying the 15% of you Income that is taken out for FICA? If you add that in, then your effective tax rate is 20%. That's a lot higher than Buffett's or Romney's.
Barky knows that. The leftist objective is never to grow the economy, it's always about trying to alleviate their painful feelings of envy, a mental byproduct of being too vain. If everyone has less, they will feel less envious and more important. Leftism is a race to the bottom driven by envy. Leftists would rather make $25k/year if their neighbor makes $15k than make $100k if their neighbor makes $125k. They'd rather live in poverty than let someone else have a bigger piece of cake. Leftism is usually rooted in childhood trauma over birthdays and Christmas, exasperated if their father is absent.
If Buffet’s secratary only makes $60k then she needs to move on. The job of sec for someone at that level is worth at least twice her wage. I’m not surprised to hear that he is so cheap with his salary offeeings..
Yeh that will create a lot of jobs. Not.
If you drop dead before you can collect then it is tax. The same can be said if they start means testing. Everyone's effective tax rate will be different. If live to 80, I'll come out on the plus side
It is a tax now. If you are too naive to understand that, then maybe you are on the wrong forum. FICA is a TAX.
It is a TAX on YOUR INCOME.
It is AN INCOME TAX.
It only applies to the first $108,000 of YOUR income.
The money you are putting in now is being spent now.
It is NOT A RETIREMENT ACCOUNT.
IT IS A TAX.
Is that clear enough for you?
It was a tax then, and it's a tax now.
It's certainly NOT an investment, a "lock-box"..or a donation!!
It's plain and simple a tax on the working class....and designed to tax more money from the working class, so the ruling class can do what they want to with said monies.
BTW, my Pop never collected a dime of it. I expect the same thing to happen to me.
I always make a point of bringing it up when the Tax Cuts for the Rich crap starts to fly out of a Liberals pie hole.
Liberals lie, it's their nature. http://www.mtgriffith.com/web_documents/taxcutfacts.htm
Just a clarification.
The link refutes the Liberal lies about the Bush Tax Cuts.
It is a tax and there is no obligation they have to pay. If your a working stiff and happen to live long enough, you're likely to get a good chunk of FICA taxes back.
There are tax loop holes are there for the working stiff if they want to take them. I see posts on a fairly regular basis that people cashed in their 401K and took the penalty because they read some tin foil post about the government grabbing 401K's.
I had a relative start drawing at 62 as soon as he was diagnosed with an irregular heart beat.
You bet it is.
So you now must admit that if you pay 5% in regular Federal Income tax and 15% of your gross earnings as FICA income tax, that your effective tax rate is significantly higher than the tax rate paid by Romney and Buffett.
Can you admit that?
Come on, it's the truth. You can admit the truth, can't you?
There are tax loop holes are there for the working stiff...
So your answer to the tax disparity is to look for loopholes?
Even if you were able to reduce your income tax rate down to 2%, you'd still be paying a higher rate on your income than Romney or Buffett.
If the rate is the question, then your rate is higher, evo.
That is how the game is played unfortunately. Why isn't there any push for a flat tax or fair tax? Everybody is fat dumb and happy with the tax breaks they have become accustomed to..
That wasn’t my point...but you’re absolutely right.
I supposed I should have said “$1,000,000 in taxable salary income”
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.