FACT CHECK: Are rich taxed less than secretaries?

[The Troll]

But they will be contributing more because they will be buying more expensive things.  Also everyone will be paying and not just a select few and it will be impossible for anyone to cheat.

  What ever you say, Grass Hopper!

[Henry Hawk]

When President Obama says that the rich don't pay their share of taxes, he is lying, distorting, and demagoging.
   
Here are the facts according to the IRS:

• Those making more than $1 million pay 24% of income in  taxes
• Those making $200,000 to $300,000 pay 17.5%
• Those making $100,000 to $125,000 pay 9.9%
• Those making $50,000 to $60,000 pay 6.3%
• Those making $20,000 to $30,000 pay 2.5%

And what of millionaires who pay no taxes?

There are 1,470 of them.  They represent six-tenths of one percent of all those with million dollar incomes in the U.S.  If we assume that they make an average income of $2 million a year each, taxing them at the same rate as other millionaires (24.4%) would yield $367 million, which would increase Treasury income tax revenues by 30 one-hundredths of one percent or one-third of one-tenth of one percent!

[The Troll]

When President Obama says that the rich don't pay their share of taxes, he is lying, distorting, and demagoging.
   
Here are the facts according to the IRS:

• Those making more than $1 million pay 24% of income in  taxes
• Those making $200,000 to $300,000 pay 17.5%
• Those making $100,000 to $125,000 pay 9.9%
• Those making $50,000 to $60,000 pay 6.3%
• Those making $20,000 to $30,000 pay 2.5%

And what of millionaires who pay no taxes?

There are 1,470 of them.  They represent six-tenths of one percent of all those with million dollar incomes in the U.S.  If we assume that they make an average income of $2 million a year each, taxing them at the same rate as other millionaires (24.4%) would yield $367 million, which would increase Treasury income tax revenues by 30 one-hundredths of one percent or one-third of one-tenth of one percent!

  Damn Hawk,  I guess you never heard of creative tax avoidance.  The rich and corporations use it to extremes.  Why is it that GE didn't pay any taxes on the millions and millions of dollars they made last year.  You're brain dead. 

  Plain a simple you don't know a damn thing you are talking about.    I sure wish there was a symbol for a dumb ass.   

[Henry Hawk]

  Damn Hawk,  I guess you never heard of creative tax avoidance.  The rich and corporations use it to extremes.  Why is it that GE didn't pay any taxes on the millions and millions of dollars they made last year.  You're brain dead. 

  Plain a simple you don't know a damn thing you are talking about.    I sure wish there was a symbol for a dumb ass.   

YEAH,  the FACTS from the IRS are probably wrong...

[Exterminator]

• Those making more than $1 million pay 24% of income in  taxes
• Those making $200,000 to $300,000 pay 17.5%
• Those making $100,000 to $125,000 pay 9.9%
• Those making $50,000 to $60,000 pay 6.3%
• Those making $20,000 to $30,000 pay 2.5%

Based on your information, the following could also be true:

Those making $30,001 to $49,999 pay 30%
Those making $60,000 to $99,999 pay 39%
Those making $125,001 to $199,999 pay 15%
Those making $330,001 to $999,999 pay 2%

I'm just filling in the holes since whomever you plagiarized this from left quite a few income ranges out.  The mental midget who wrote this tripe also calculates the tax on income as though it is a tax on salary whereas people making large quantities of annual income typically earn most of it in deferred income on which they pay no taxes.

[me]

  Damn Hawk,  I guess you never heard of creative tax avoidance.  The rich and corporations use it to extremes.  Why is it that GE didn't pay any taxes on the millions and millions of dollars they made last year.  You're brain dead. 

  Plain a simple you don't know a damn thing you are talking about.    I sure wish there was a symbol for a dumb ass.   

Ask Obama the CEO is his buddy ya know.

[Exterminator]

Ask Obama the CEO is his buddy ya know.

Because GE's relationship with the government just started when he got into office; right? 

[me]

Because GE's relationship with the government just started when he got into office; right? 

You figure it out, you're the one with all the brains.

[Henry Hawk]

 
Very interesting....

http://www.wealthwire.com/news/finance/1971

Wealth Wire  BET Founder: Obama, Stop Attacking the Wealthy 

Why is our country beginning to demonize anyone who has obtained success? ...
It's all over the media these days. High rank and sustainable fiscal success are suddenly qualities of a stereotypical "bad" person. But, why?...


On yesterday's "FOX News Sunday" program, BET founder Robert Johnson explained how Obama is sending the wrong message to hard-working Americans with his recent financial decisions.


According to Johnson, this is no good strategy for someone in a leadership position. Leaders should want to encourage competitive behavior in a capitalistic economy. "Demeaning success" is no way to get the sector of hard-working Americans to like you, let alone re-elect you int office.


Johnson elaborates:
"And by attacking me it is not going to convince me that I should take a bigger hit because I happen to be wealthy. You know, it is the old -- I think Ted and Fred and I we both sort of take the old Ethel Merman approach to life. I've tried poor and I tried rich and I like rich better. It doesn't mean that I am a bad guy.


"I didn't go in to business to create a public policy success for either party, Republican or Democrat. I went in business to create jobs and opportunity, create opportunity, create value for myself and my investors. And that's what the president should be praising, not demagoguing us simply because Warren Buffet says he pays more than his secretary. He should pay the secretary more and she will pay more."


Additionally, Johnson emphasized our county's need to change its mentality about our economy – focusing more directly on the global community. Until we do so, we will remain stuck in the rut (recession) we're in.

[Bo D]

[Henry Hawk]

So raising taxes will create JOBS?...

We had around 5% unemployment during the Bush years AFTER those tax cuts...

The reason we have had Job loss is NOT because we cut taxes...maybe it has something to do with we have the second highest corporate tax rates in the world and some of the heaviest regulations in the world...We have had extremely strong Unions to deal with, that other countries do not deal with.....is it right or wrong?....all I know is these are facts, and Investors jobs are to make a profit, they are not charities, and our government is NOT supposed to be either.

also, the top 25% of the wage earners currently pay around 86% of all the federal taxes......so, continue to raise them during a down economy and only THEN will you guys see what a real recession/depression will do to us.

Of course this is the same ol record playing on here, but THAT is the way it is, from my perspective.

[Exterminator]

We're really not interested in hearing a perspective on corporate taxes from someone who can't spell corporate.

[Henry Hawk]

you have a mouse in your pocket?

and WHAT are you talking about?...

[Bo D]

We're really not interested in hearing a perspective on corporate taxes from someone who can't spell corporate.

Someone once asked me why I pick out one phrase of a post to pick on.

It's as if someone were to write a very passionate, fact-filled essay on why global warming is a myth. They present very pertinent data and arrange in in a logical manner. But then in summary they write "As proof, they now can't grow grapes in England."



Kind of destroys the whole point ....

[Bo D]

So ... which president said this? ....

"We're going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share. In theory, some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying ten percent of his salary, and that's crazy. [...] Do you think the millionaire ought to pay more in taxes than the bus driver or less?"

...............................

Ronald Reagan!!! June 6, 1985

Now, just in case you all think that he was misquoted, here's the video ....

http://www.youtube.com/watch?v=cgbJ-Fs1ikA&feature=player_embedded