"Middle-class families shouldn't pay higher taxes than millionaires and billionaires,

piece-itpete · #1 10-13-2011, 12:21 PM

... Obama said. "That's pretty straightforward. It's hard to argue against that."

It's also hard to argue against ice cream, or puppies.

The class war continues:

"It is wrong that in the United States of America, a teacher or a nurse or a construction worker who earns $50,000 should pay higher tax rates than somebody pulling in $50 million." -Obama

And that very well may be true, unfortunately for the left, that is not what's happening in the good old US of A:

....

"This year, households making more than $1 million will pay an average 29.1% of their income in federal taxes, including income taxes, payroll taxes and other taxes, according to the Tax Policy Center, a Washington think tank.

Households making between $50,000 and $75,000 will pay an average of 15% of their income in federal taxes.

Lower-income households will pay less. For example, households making between $40,000 and $50,000 will pay an average of 12.5% of their income in federal taxes. Households making between $20,000 and $30,000 will pay 5.7%."

....

And yeah, the capitol gains has a lower rate. In aggregate it doesn't matter.

When pushed to back up his bosses wildly inflated claims, Geithner says:

"So it really depends on what is your profession, where's the source of your income, what's the specific circumstances you face, and the averages won't really capture that."

So the champion of big business bailout, bails

http://www.usatoday.com/money/perfi/...1?csp=obinsite

Pete

simi · #2 10-13-2011, 01:17 PM

No idea where they are getting those numbers. They take damn near 35% of my paycheck, and give back very little when I file..

merrylander · #3 10-13-2011, 01:19 PM

Then you want to read Farad Zakaria's piece in Time this week and I would trust his research long before a Washington think tank - now there's an oxy-moron for ya.

piece-itpete · #4 10-13-2011, 01:43 PM

But then, Geithner would've pointed out their inaccuracies for sure.

Simi, it's just the Federal tax paid, no SS, Medicare etc. Heck I suspect that if we added all taxs across the board, payroll, sales, fees etc there'd be open revolt in the streets!

Pete

simi · #5 10-13-2011, 01:53 PM

Sorry.. I consider SS and medicare to be a tax with a different name. We are forced to pay it. We have no choice. It doesn't get used for it's real purpose they take it for. It gets lumped in with the rest of the money they steal from us.. .

piece-itpete · #6 10-13-2011, 02:09 PM

We are in perfect agreement

Pete

simi · #7 10-13-2011, 02:11 PM

BTW, look out the window.. there is a revolt in the streets.. ABOUT TIME!!!!!

piece-itpete · #8 10-13-2011, 02:14 PM

Ach, there goes the agreement

Ever see 'Fritz the Cat'?

Pete

merrylander · #9 10-13-2011, 02:19 PM

Quote:

Originally Posted by simi

Sorry.. I consider SS and medicare to be a tax with a different name. We are forced to pay it. We have no choice. It doesn't get used for it's real purpose they take it for. It gets lumped in with the rest of the money they steal from us.. .

Yeah but in Canada for the same tax plus $54 per month I got healthcare, all I get here for $96.80 a month is one flu shot a year.

simi · #10 10-13-2011, 02:23 PM

I hear you Rob.. In Germany they take half your paycheck.. but they also give you healthcare and child care... Well worth the price..

I've heard of Fritz and seen one or two pieces, but never looked into him..