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Tax Returns

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In reply to an earlier post on Aug 7, 2012 5:39:10 PM PDT
Katrina says:
Well, Steve, me, you, and a bunch of other people think the tax code is a mess. Something ain't right when the Millionaires pay less than the Middle Class. I suspect the K Street Lobbyists have influenced the Tax Code more than you or I have. Maybe a good scandal is what it takes.

You like stories? .......Good. Mississippi used to be a 'dry' state. Alcohol was the work of the Devil. Liquor was outlawed. Probably said so in the Bible. Then, one night, the Governor was throwing a Party for all the Big Shots, and lo and behold, the State Police raided the Governors Mansion and found everybody drinking alcohol and carrying-on and such. The Governor, red-faced and outraged, said something like "That's it! We're gonna' have elections in every County to see who wants it, and who don't!" (some counties are now 'wet', some are still 'dry'.) Sooooo,.....maybe somebodys got to have their pants pulled down to get the ball rolling?

In reply to an earlier post on Aug 8, 2012 12:12:02 AM PDT
"We would have had lower unemployment rates if the Republican house had not stymied every effort to improve the economy."

Does your balloon ever land? The Jackass party had majorities in both the House and Senate for two years, the GOP couldn't stop anything. But you just believe anything they tell you, no questions asked, and you accuse others of "falling for propaganda"?
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In reply to an earlier post on Aug 8, 2012 12:15:03 AM PDT
"Well, Steve, me, you, and a bunch of other people think the tax code is a mess. Something ain't right when the Millionaires pay less than the Middle Class."

I hope we can count on your support for a flat tax then? No, wait, that would be TOO fair, can't have that.

In reply to an earlier post on Aug 12, 2012 10:51:25 AM PDT
Katrina says: "It just strikes most people as odd, or, unfair, that if you have a 100 million dollars, you don't pay any taxes. or very little taxes. or, for that matter, less than 14% in taxes. Lots of people that have much less than 100 million dollars, a lot more than 14%."

And yet, even with the republican wags all knowing for a fact that in the year Romney reported (partial information - not his whole return) that he only paid 14%, they still support Romney and his campaign pledge to reduce taxes on the rich even more.

Shocking if his taxes were 14% for those ten years. Inexcusable if his taxes were nothing.

Posted on Aug 13, 2012 10:42:37 AM PDT
Steve in MT says:
Although it's Newsbuster, there is a pretty good explanation of the differences between tax brackets and tax rates.

You may think you pay a higher percentage of taxes than you actually are. Again, this is the best argument for a flat tax, plus it would make it less complicated for our Treasury Secretary to actually pay his taxes.

Posted on Aug 13, 2012 12:12:06 PM PDT
BIgceebin4 says:
Say, ten men go out for a beer and the bill for all ten comes to $100.
If they paid their bill the way we pay our taxes, it would go something like this:
The first four men (the poorest) would pay nothing.
The fifth would pay $1.00
The sixth would pay $3.00
The seventh would pay $7.00
The eighth would pay $12.00
The ninth would pay $18.00
The tenth man (the richest) would pay $59.00
So that's what they decided to do. The men drank in the bar every day and seemed quite happy with the arrangement, until one day the owner threw them a curve.
"Since you are all such good customers," he said, "I'm going to reduce the cost of your daily beer by $20.00."
Drinks for the ten men now cost just $80.00.
The group still wanted to pay their bill the way we pay our taxes, so the first four men were unaffected. They would still drink for free. But what about the other six men - the paying customers? How could they divide the $20 windfall so that everyone would get their "fair share?"
They realized that $20.00 divided by six is $3.33. But if they subtracted that from everybody's share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man's bill by roughly the same amount, and he proceeded to work out the amounts each should pay.
And so:
The fifth man, like the first four, now paid nothing (100% savings).
The sixth now paid $2 instead of $3 (33% savings).
The seventh now paid $5 instead of $7 (28% savings).
The eighth now paid $9 instead of 12 (25% savings).
The ninth now paid $14 instead of $18 (22% savings).
The tenth now paid $49 instead of $59 (16% savings).
Each of the six was better off than before! And the first four continued to drink for free. But once outside the restaurant, the men began to compare their savings.
"I only got a dollar out of the $20" declared the sixth man. He pointed to the tenth man, "But he got $10!"
"Yeah, that's right," shouted the seventh man. "Why should he get $10 back when I got only two? The wealthy get all the breaks!"
"Wait a minute," yelled the first four men in unison. "We didn't get anything at all. The system exploits the poor!"
The nine men surrounded the tenth and beat him up.
The next night the tenth man didn't show up for drinks, so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something important. They didn't have enough money between all of them for even half of the bill!
And that, boys and girls, journalists and college professors, is how our tax system works. The people who pay the highest taxes get the most benefit from a tax reduction, but not on percentage. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas where the atmosphere is somewhat friendlier.
For those who understand, no explanation is needed.
For those who do not understand, no explanation is possible

In reply to an earlier post on Aug 13, 2012 12:29:13 PM PDT
Silly story and back assward!

In reply to an earlier post on Aug 13, 2012 2:13:56 PM PDT
Steve in MT says:
Please, do tell.

In reply to an earlier post on Aug 13, 2012 2:36:46 PM PDT
Karl Towers says:
Excellent, BIgceebin4.
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Discussion in:  Politics forum
Participants:  21
Total posts:  109
Initial post:  Aug 2, 2012
Latest post:  Aug 13, 2012

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