I've decided everyone should be taxed exactly the same. No more progressive taxation.

[SmileyRose]

From the poorest to the richest we should all pay taxes by the same rules.

The government decides it takes $9,500 (or whatever) per person for basic necessities of life.

I pay the following and the billionaires should pay exactly the same.

2.9% Medicare tax on every single penny I earn - I pay half and my employer volunteers to pay the other half.

12.4% Social security tax on every single penny I earn - I pay half and my employer volunteers to pay the other half

15% federal income tax on every penny I earn above the deduction the government allows for basic necessities of life.

Total I pay is 23.3% on every penny I earn. I have no extra deductions.

***

Now if the uber rich have their little noses all bent out of shape because life is just so fucking unfair for them then by all means, let's take away all their deductions and have them pay by the same rules as the rest of us.

And since the Supremes have decided corporations are people they can share the joy as well. No deductions - just cough up 23.3% on the gross sales - before expenses, just like me.


You wanna see how fast the teabaggers start squealing when they realize how they'd be fucked beyond all reason if they had to pay the same as me?

[Warpy]

1. You can live on $9500 a year?

Wow. I'm seriously impressed. You get shelter, food, clothing, healthcare and transportation to and from work on $9500.

You must be a god.

[SmileyRose]

3. LOL

Well the IRS and the people who decide how much is good for the disabled and old folks seem to think a ridiculously low amount is plenty.

But seriously, I just picked a number out of my ass because I could not remember the standard deduction.


:)

[Fumesucker]

4. $5,700 for 2009 single individual.. n/t

[SmileyRose]

7. Oh wow

so the geezers getting $763 a month before medicare premium deductions should be living high off the hog!!


:sarcasm:










Sorry peoples - I'm in a mood.

[hfojvt]

17. but there is also an exemption of $2,300 or so

and the disabled may have an extra exemption. At least the blind and the elderly used to. And then tax is only 10% for money above that for the first $8,000 and then 15% up to about $15,000. But the standard deduction and the personal exemption and other deductions (like IRAs, which I take, which also gives me form 8880) and the EIC. That really brings the average tax rate down.

For 1996, using real data, people making under $5,000 paid an average income tax rate of 3.91%. Those making under $10,000 paid 4.21. Under $15,000 paid 6.15%, under $20,000 paid 7.37%, whereas those making over $200,000 paid 25.3%, over $500,000 paid 30.1% and over $1,000,000 paid 30.9%.

That was in 1996.

By 2005, those making over $200,000 paid only 20.2%. Over $500,000 paid 23.9%. Over $1,000,000 paid 24.6% and over $10,000,000 paid 20.9%.

Your system would be worse than now (if worse is defined as paying more taxes) but better than what prevailed in 1996 - to say nothing of the 1970s which I think we should go back to. The good old days, doncha know?

[Fumesucker]

19. You're leaving out FICA

Most people pay more in Social Security than they do in income taxes.

[hfojvt]

21. but not the wealthy

her argument was sort of that the wealthy would be much worse off with her system, but she does not come close to Clinton rates for the wealthy even without FICA.

[Fumesucker]

24. I was pointing out that your figures were not an accurate portrayal of what people pay..

FICA is massively regressive..

[merqz]

31. Social Security also has a disparate impact (negative) on African Americans

Because of, among other things, the increased death rates prior to retirement age, and other factors, african americans pay more into SS vs. what they get out vs. whites (iow the ratio of paid-in/received is higher for them)

[JSK]

5. The IRS doesn't make tax law

They enforce it.

[Fumesucker]

6. You missed this part of the sentence..

"and the people who decide how much is good for the disabled and old folks seem to think a ridiculously low amount is plenty"

[Taitertots]

14. I'm very close to that, little more money and less health care

Share a house, buy cheap food, live close to work and college, ride a motorcycle, home brew beer, grow food, shop for deals, and don't buy into conspicuous consumption.

For $9500, I'd probably move into a trailer with my roommates, ride a bicycle, the trailer park close to here is on a bus route, stop drinking beer, and go on a diet.

[FreakinDJ]

2. Your making too much sense again

[seabeyond]

8. the only thing to point out in your post, is the teabaggers are probably you

their yelling about taxing the rich is irrelevent since they arent the rich and it is counter to their very own interest

as for the rest

carry on

[rocktivity]

9. "The bare necessities of life" should be based on median income

($50,233.00 in 2007). Since half of Americans earn less, that's where the tax rates should start rising.

:headbang:
rocktivity

[obxhead]

10. Actually many teabaggers do pay the same taxes as you and I do.

The majority of the teabaggers faux noise loves to show us are the "average joe" and pay the same taxes you and I do. They are simply delusional and think one day they will be the elite and therefore must fight for breaks they will never actually receive.

[The Magistrate]

28. And Imagine, Sir, Every Dime Of It Goes To Lazy Negroes....

A lot of 'anger at taxes' is based on misconceptions and outright delusions about what is done with tax monies....

[obxhead]

29. That is very true.

I love the people that actually get government aid in one form and rail vehemently against all other forms they don't qualify for as well.

[The Magistrate]

30. Yes, Those Types Are A Hoot, Sir, But Remember: They Earned Every Penny They Get From The Government

Not like those welfare cheats and foreigners....

[Lagomorph]

32. Well, actually....

I've gotten tired of them building bombs, fitting them with expensive electronics, then tossing them out of airplanes to land on any adobe hut they can find. We've spend trillions of dollars blowing up adobe huts.

This is a small thing, but it makes me crazy. There is a section of elevated road sitting a couple miles from here. It's been disconnected at both ends and sits roughly 20 feet in the air, with no means for access. On it sits three porta-potties from one of the local contractors. They've been sitting there for three years. There is no way to remove them or service them, unless they were to build an access ramp to the roadway. I can only wonder what that is costing me in rental fees.

[wtmusic]

11. Building a business has no tax advantage over buying a winter home in the Bahamas?

Deductions serve a purpose. They provide jobs, they move the economy.

Your "playing by the same rules as the rest of us" would be disastrous for the rest of us.

[SmileyRose]

12. Deductions do indeed serve a purpose. - job and wage creation for the rest of us?

Sometimes - but mostly not.


Regardless, I'd like to see the Republicans and Teabaggers alike sit in front of America and defend why the 95% of Americans deserve to be punished through taxation...............

[wtmusic]

15. The idea of deductions is sound, implementation is not.

I'm getting a tax deduction of $7,500 to buy an electric car (wouldn't buy the car without it). One of the many ways deductions can be used as an instrument for the common good.

What the IRS needs to address is loopholes, and Obama is aggressively moving to do that.

Obama vows to close tax loopholes

"(AXcess News) Washington - President Barack Obama vowed to close tax loopholes on foreign investments Monday, even going so far as to threaten banks with action if they didn't cooperate in identifying American foreign investments.

The Democratic administration of President Obama will pursue American businesses and individual taxpayers who use foreign loopholes in investing abroad to avoid paying federal income taxes. The move will affect major US companies such as Caterpillar.

In a public address Monday, President Obama said the US tax system is "full of corporate loopholes" and that later this week his administration would release budget plans which would recoup some $210 billion from taxpayers over the next decade."

http://axcessnews.com/index.php/articles/show/id/17936

[Cirque du So-What]

13. I'm not letting them off the hook that easily

Allowing Chimpolini's tax cuts to expire will add $700 billion (yes, with a 'B') to federal coffers over the next 10 years, and no matter how good it may feel to tweak the fucking teabaggers' noses, I don't concede anything on the progressive taxation front.

[Ruby the Liberal]

16. Every charity in the country would fold within months.

[marybourg]

18. So the tractor dealer who spends 40 million on wholesale

tractors to earn 41 million gross on them will be taxed on the 40 million? Get real!

[lostnfound]

20. Don't forget sales tax. Shouldn't that apply to purchase of stocks as well?

Hahaha.

[ileus]

22. the rich don't have income, they have capital gains.

[Fire1]

25. Exactly. n/t

[Lagomorph]

23. Now add state taxes....

utility taxes
real estate taxes
gasoline taxes
disposal taxes
...

[Fire1]

26. Capital gains tax and

by real estate tax, I assume you mean, property tax, and luxury tax.

[Lagomorph]

33. Right...and all those taxes...

they roll into the retail price of many things you buy or rent.

[Lagomorph]

34. Sliced Bagel Tax...

Candy Tax
Tanning Tax
Pole Tax (strip clubs)
911 Tax
Cow Flatulence Tax
The Mix-Tape Tax
Flush Tax
The Jock Tax
Sparkler Tax
....

[WVRICK13]

27. Stop It

You know how much sound logic confuses the RW.