Still not understanding why 50% of people shouldn't pay squat and the rich folk should carry us. The top 1% of earners paid 37% of all fed taxes in 2009. approx From 90% to 99% paid 30%, 51% to 89% paid 30% and the bottom 50% paid less than 3%. The math doesn't add up, if you have 150 million tax payers and 15 million of them pay almost 70% of the taxes and you are going to ask them to pay more why wouldn't the other 135 million be asked to pony up as well. Even if the income levels are lower and you make the tax increase smaller on them(%wise) the sheer number of people contributing would certainly make a difference. In theory anyway...I'm sure in reality the money would just get pissed away as usual. http://www.forbes.com/sites/beltway/2012/01/31/the-facts-on-tax-rates-who-pays-what/
My profit margin was 17.8% last year. With the tax/fee/licensing we have to go through. On top of $4+/gal fuel im not even going to start on insurance. This administration is going to be the demise of small business. Ten years ago before i bought my father out. He used to shoot for a 40% profit margin. He actually achieved it a few years. The best I've done is 22% I've been in business alone now for 4 years Sent from my DROID RAZR using Tapatalk 2
ftr I 'm not too fond of the idea of paying more taxes I just don't understand why when the topic of raising taxes comes up many people just feel it shouldn't mean them, only rich folks.
In the last 4 years what new regualtions have been added? Serious question 10 years ago was that before the Bush tax cut or after?
Vendetta, you did say you have freedom from religion so yes it appears you did say that. You have freedom from congress passing laws regarding religion but not freedom from religion. Semantics I guess. Sent from my DROIDX using Tapatalk 2
How much tax is enough for the rich. I talked to the owner where i work. American success story. Started in his garage and now has a multi million dollar operation that his sons now run. He has a couple businesses now. He is in the 36% bracket and said that added with state taxes, he pays 50% in taxes. Imo,Demanding,50% of ones income regardless of income is nothing more than robbery. Especially when you fundamentally disagree with how it is being spent. That is a big reason the rich are against more taxes. They hate how it gets "redistributed" I agree with a progressive tax rate, however,i don't feel punishing success is positive for the future of this country. There's no doubt the poor need more of their money to live than the rich, but again, how much is enough and when will the responsible spending start? Sent from my DROIDX using Tapatalk 2
I agree. People who think just because a person has more money they should pay a higher percent of taxes should be ashamed of themselves. My wife and I ain't ever going to be higher than middle class here in Prince William county but you will never here me say that I believe people with more money should be pounded with a higher tax rate.
As of 2013 i need to be licensed and bonded for demolition. To work for MNDOT my insurance requirements more than doubled. Property tax is up 270% in last 5 yr. 103% this year alone. The list goes on. I gross more and more every year. Work more hrs/days. Take home less. It is really frustrating. Sent from my DROID RAZR using Tapatalk 2
I agree here. To me someone paying more taxes just because they have more money would be similar to this... I am going to take this semester off and get a "D" in my class. At the end of the semester my professor agreed to take Billy's "A" and give me a cut of his grade. Yahooo we both get "B's"
Welcome to a down economy. Blame people like hostess who, instead of raising wages a little, decided to go bankrupt and dump the pensions on the US gov't. The people that pay "squat" as you put it, make "squat". Some are freeloaders, no doubt, many are not. Many are living on fixed income, etc. I'm not sure what you're trying to say. Are you saying as a business owner you're entitled to make a lot of money? I think you get an assload of deductions, so while you might have $1 mil in sales, you're not going to get taxed on that. If you make a million in profit (read that as less deductions), whats the issue? My response was based on your statement regarding someone with $1mil in income vs someone with $35k. It'll take both. I have freedom from religion as far as politics is concerned. Also, I have the right to choose my religious beliefs, and don't feel that you have the right to impose yours (or any part thereof) on me. That was what I meant by it.
I had a federal agent show up at my house. Because of my chickens. He said that even tho' I don't sell eggs across state lines or have anywhere near the number of hens to need a federal license..... that I was still on the Fed's radar. He officially put me on the list of 'food producers'. Hence, my teeny egg selling business is now under the watch of the Feds. As a 'food producer' I am under the jurisdiction of Homeland Security. If for any reason the Feds wanted to shut me down or take over or force me to give away my eggs or whatever.. I would be legally required to comply. It's a new set of regs, thanks to the Obama Admin. Control the food, control the people.
Let me lay out what corporate taxes look like and why the government shouldn't raise taxes any higher. Let's say a corporation's bottom line says $1,000,000.00 after all expenses. Uncle Sam will take 1/2 of that, so you take 500,000.00 away from the company's ability to grow. For the people that want more taxes paid you are taking away a companies ability to grow and to add more jobs. With more jobs there will be more income tax paid by the new hires. Higher taxes only retards economic growth and actually creates a smaller tax base. With lower tax rates companies have more resources to grow and create more jobs equals more people making money thus spending more money creating more jobs. If companies can reinvest and grow is the only way for the government to claim more revenue not by increasing the percentage of the tax.
Vandetta. Im grossing more. Clearing less. Working more. Not the economy. It cost me almost $90/hr to have a operator on a mndot site. That is total BS. Sent from my DROID RAZR using Tapatalk 2
Vendetta In the article I linked it gave a pretty shocking comparison. A millionaire making 100x the amount of a secretary(35k-40k) pays 400x the taxes as the secretary. Like I said the math doesn't add up.
The only issue I have with a flat tax rate is the burden that would be added to those that live in poverty,and some are there because of reasons beyond their control. A flat tax rate would be in the 20-25% range by what I have seen reported. This would be a huge hit on someone that only makes $20,000 a year trying to raise a family. Someone making $100,000,this would be a little more in line. Someone making $10,000,000,a very minute amount,so from this standpoint,I do agree with a progressive system,I just don't believe 50% is even remotely moral,especially when those dollars are spent as they are today. The problem as I see it now is that the government is trying to tax business which never works. You either drive the business under,increase layoffs or force them into a lower tax area. The business if able to stay afloat will just pass those taxes onto the consumer. I really liked what Romney was trying to do. Get rid of the waist,IE,big bird. Close the loopholes,lower the base rate and offset that with eliminating deductions. Much simpler system.
Our corporate taxes are more than sufficient, high in my opinion. It's the individual tax rates that have not grown exponentially like the slice of the American pie in a small group of hands has. My personal belief, raise individual taxes, lower corporate taxes, give rich business owners a reason to reinvest in their company, rather than siphon the all profits into their piggy banks while leaving the company burdened in debt. Example: Hostess
