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Thousands of wealthy earners manage to zero out tax bills
- ScienceChic
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03 Jun 2012 10:09 #1
by ScienceChic
"Now, more than ever, the illusions of division threaten our very existence. We all know the truth: more connects us than separates us. But in times of crisis the wise build bridges, while the foolish build barriers. We must find a way to look after one another as if we were one single tribe.” -King T'Challa, Black Panther
The truth is incontrovertible. Malice may attack it. ignorance may deride it, but in the end, there it is. ~Winston Churchill
Methinks our tax code needs some work...
Thousands of wealthy earners manage to zero out tax bills
By Allison Linn
More than 35,000 people who had income of more than $200,000 in 2009 paid no federal income taxes that year, according to a new report from the Internal Revenue Service .
Thousands of wealthy earners manage to zero out tax bills
By Allison Linn
More than 35,000 people who had income of more than $200,000 in 2009 paid no federal income taxes that year, according to a new report from the Internal Revenue Service .
"Now, more than ever, the illusions of division threaten our very existence. We all know the truth: more connects us than separates us. But in times of crisis the wise build bridges, while the foolish build barriers. We must find a way to look after one another as if we were one single tribe.” -King T'Challa, Black Panther
The truth is incontrovertible. Malice may attack it. ignorance may deride it, but in the end, there it is. ~Winston Churchill
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- Reverend Revelant
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03 Jun 2012 10:21 #2
by Reverend Revelant
I agree... and get that 48% who paid no taxes involved too! Everyone in this country should pay some share.
Waiting for Armageddon since 33 AD
Replied by Reverend Revelant on topic Thousands of wealthy earners manage to zero out tax bills
Science Chic wrote: Methinks our tax code needs some work...
Thousands of wealthy earners manage to zero out tax bills
By Allison Linn
More than 35,000 people who had income of more than $200,000 in 2009 paid no federal income taxes that year, according to a new report from the Internal Revenue Service .
I agree... and get that 48% who paid no taxes involved too! Everyone in this country should pay some share.
Waiting for Armageddon since 33 AD
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- LadyJazzer
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03 Jun 2012 10:38 #3
by LadyJazzer
Replied by LadyJazzer on topic Thousands of wealthy earners manage to zero out tax bills
Well, surely all that money that they are not paying in taxes will trickle-down in the form of new jobs & businesses?
Nah.... Most likely it will end up as new toys in the driveway, or another vacation to the Cayman Islands...(I hear they have some nice banks there...)
Nah.... Most likely it will end up as new toys in the driveway, or another vacation to the Cayman Islands...(I hear they have some nice banks there...)
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- ScienceChic
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03 Jun 2012 10:47 #4
by ScienceChic
"Now, more than ever, the illusions of division threaten our very existence. We all know the truth: more connects us than separates us. But in times of crisis the wise build bridges, while the foolish build barriers. We must find a way to look after one another as if we were one single tribe.” -King T'Challa, Black Panther
The truth is incontrovertible. Malice may attack it. ignorance may deride it, but in the end, there it is. ~Winston Churchill
Replied by ScienceChic on topic Thousands of wealthy earners manage to zero out tax bills
Don't the elderly who own homes still pay property tax? Why should they or anyone pay income taxes if they have income that is below poverty level?The Liberals GOP Twin wrote:
Science Chic wrote: Methinks our tax code needs some work...
Thousands of wealthy earners manage to zero out tax bills
By Allison Linn
More than 35,000 people who had income of more than $200,000 in 2009 paid no federal income taxes that year, according to a new report from the Internal Revenue Service .
I agree... and get that 48% who paid no taxes involved too! Everyone in this country should pay some share.
"Now, more than ever, the illusions of division threaten our very existence. We all know the truth: more connects us than separates us. But in times of crisis the wise build bridges, while the foolish build barriers. We must find a way to look after one another as if we were one single tribe.” -King T'Challa, Black Panther
The truth is incontrovertible. Malice may attack it. ignorance may deride it, but in the end, there it is. ~Winston Churchill
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- Reverend Revelant
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03 Jun 2012 10:52 #5
by Reverend Revelant
I said something. Anything... and it's not just the below poverty level folks that don't pay anything. Are you telling me that 48% of our population is at the proverty level?
Waiting for Armageddon since 33 AD
Replied by Reverend Revelant on topic Thousands of wealthy earners manage to zero out tax bills
Science Chic wrote:
Don't the elderly who own homes still pay property tax? Why should they or anyone pay income taxes if they have income that is below poverty level?The Liberals GOP Twin wrote:
Science Chic wrote: Methinks our tax code needs some work...
Thousands of wealthy earners manage to zero out tax bills
By Allison Linn
More than 35,000 people who had income of more than $200,000 in 2009 paid no federal income taxes that year, according to a new report from the Internal Revenue Service .
I agree... and get that 48% who paid no taxes involved too! Everyone in this country should pay some share.
I said something. Anything... and it's not just the below poverty level folks that don't pay anything. Are you telling me that 48% of our population is at the proverty level?
Waiting for Armageddon since 33 AD
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- LadyJazzer
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03 Jun 2012 11:06 #6
by LadyJazzer
Replied by LadyJazzer on topic Thousands of wealthy earners manage to zero out tax bills
I think the article said that "Thousands of WEALTHY EARNERS managed to escape taxes." I don't remember that saying much about the elderly... Surely, there are some, but since property taxes are local, and income taxes are federal...(and, in most cases, some state), that's rather an "apples and oranges" comparison...
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- FredHayek
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03 Jun 2012 11:16 #7
by FredHayek
Thomas Sowell: There are no solutions, just trade-offs.
Replied by FredHayek on topic Thousands of wealthy earners manage to zero out tax bills
And why didn't Pelosi, Obama, & Reid do anything about this when they were in charge? Maybe because they like to have it as something to bash Republicans about? Or maybe they are all talk and no action.
Thomas Sowell: There are no solutions, just trade-offs.
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03 Jun 2012 11:23 #8
by LadyJazzer
Replied by LadyJazzer on topic Thousands of wealthy earners manage to zero out tax bills
Maybe because the teabaggers have an agenda to kill ANYTHING proposed by Pelosi, Obama & Reid, no matter what it is. They're more interested in political gain than the good of the country, and are certainly celebrating their handywork this week.
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- Rick
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03 Jun 2012 11:27 #9
by Rick
The left is angry because they are now being judged by the content of their character and not by the color of their skin.
Replied by Rick on topic Thousands of wealthy earners manage to zero out tax bills
What did the Tea Party have to do with Obama's first two years?LadyJazzer wrote: Maybe because the teabaggers have an agenda to kill ANYTHING proposed by Pelosi, Obama & Reid, no matter what it is. They're more interested in political gain than the good of the country, and are certainly celebrating their handywork this week.
The left is angry because they are now being judged by the content of their character and not by the color of their skin.
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- ScienceChic
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03 Jun 2012 11:38 #10
by ScienceChic
"Now, more than ever, the illusions of division threaten our very existence. We all know the truth: more connects us than separates us. But in times of crisis the wise build bridges, while the foolish build barriers. We must find a way to look after one another as if we were one single tribe.” -King T'Challa, Black Panther
The truth is incontrovertible. Malice may attack it. ignorance may deride it, but in the end, there it is. ~Winston Churchill
Replied by ScienceChic on topic Thousands of wealthy earners manage to zero out tax bills
Even something is a burden when you are only making $15,000/year. I know, I've been there and done that. Usually, the point of making people pay into something is so they have a vested interest in the outcome of what they pay into, and so they take on more responsibility - I get that and agree with it. But there has to be a limit of what to expect from those who would have to forego food in order to pay taxes.
No, I'm not saying that 48% of the pop. is at or below poverty level, that's why I said that we tax code revisions need to be made - those making over poverty level, and especially those making $200K+, shouldn't be able to claim so many deductions that they pay nothing. But those making below poverty level (and whatever that amount is set at is a topic for yet another debate), should not have to pay, IMO.
No, I'm not saying that 48% of the pop. is at or below poverty level, that's why I said that we tax code revisions need to be made - those making over poverty level, and especially those making $200K+, shouldn't be able to claim so many deductions that they pay nothing. But those making below poverty level (and whatever that amount is set at is a topic for yet another debate), should not have to pay, IMO.
"Now, more than ever, the illusions of division threaten our very existence. We all know the truth: more connects us than separates us. But in times of crisis the wise build bridges, while the foolish build barriers. We must find a way to look after one another as if we were one single tribe.” -King T'Challa, Black Panther
The truth is incontrovertible. Malice may attack it. ignorance may deride it, but in the end, there it is. ~Winston Churchill
Please Log in or Create an account to join the conversation.
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