$447 bil

[RACER X]

we gots millions of people paying $0 in taxes or even getting huge returns w/o paying a dime into the system, why not delve into their numbers?

[fatbuckRTO]

Originally Posted by RACER X

we gots millions of people paying $0 in taxes or even getting huge returns w/o paying a dime into the system, why not delve into their numbers?

As I've said, I have no problem cutting off the tax credits for people who effectively aren't paying any taxes. Get your refund, or fix your deductions so you're not paying, and that's it. But I think you're exagerating when you say "huge returns." EIC, for instance, was around $300 last I checked, $600 if you have dependents.

As far as "delving into their numbers" any further, well, if the examples I've given aren't enough for you to justify not taxing them, you're gonna have to find your own poor people. Shouldn't be hard these days.

[Papa_Complex]

Originally Posted by RACER X

and at 25% he's still paying $62.5k in taxes vs ? $0 for some people.........

Which is still significantly less than the $330,000 that he should be paying.

[shmike]

Originally Posted by Papa_Complex

Which is still significantly less than the $330,000 that he should be paying.

You guys keep changing my numbers.

In your $1M to $250k example, where did the extra $750k go?

[RACER X]

Originally Posted by Papa_Complex

Which is still significantly less than the $330,000 that he should be paying.

don't ya think somebody paying $62k a yr in taxes is paying enough? while many are paying $0 or even profiting off of taxes.

<crickets>

[Homeslice]

Originally Posted by fatbuckRTO

To answer this question, even though you clearly haven't put nearly enough hard work or determination into deserving an answer, let's look at the budget of just the DoD for this year (not including the wars).

$680 billion. In order for the approximately 313 million people in the US to pay this $680 billion tab, we would all have to contribute $2,172. Now, let's go get that money from a friend of mine,* who has been a roughneck most of his adult life, and started working when he was 15. He has paid into social security, paid his taxes, and worked in rain, sleet, snow, and blistering heat for sometimes 60 hours or more a week. Now he has epilepsy, which had been getting worse over a period of 10 years during which he was still roughnecking. He is finally to a point where his epilepsy is a safety hazard. The state of New Mexico has revoked his driver's license, but refused to pay him social security disability (which, remember, he has paid into all his working life, at this point a little over 15 years). He is forbidden from working as a roughneck by doctors' orders. He's providing for his family of five through the kindness of his extended family and his church.

You want to ask him for that $2,172?

For the thousands like him, and those who are even worse off, who picks up the slack? And that's just for the DoD's bills, not including the wars.

*Actual case file, I can introduce him to you if you'd like.

<crickets>

[pauldun170]

http://news.yahoo.com/blogs/ticket/r...153305241.html

[fatbuckRTO]

Originally Posted by shmike

You guys keep changing my numbers.

In your $1M to $250k example, where did the extra $750k go?

In PC's hypothetical, the CEO made $1 million but only claimed $250K on his taxes. He didn't claim that extra $750K and didn't pay the taxes on it. So he paid $62,500 (25% of $250K) vice $330,000 (33% of $1 million).

I'm not sure why the differences in percentages. Ed was working with 25%, PC with 33%.

[Papa_Complex]

Originally Posted by shmike

You guys keep changing my numbers.

In your $1M to $250k example, where did the extra $750k go?

Tax options, investments, any number of ways that income can currently be 'legally hidden.'

Originally Posted by RACER X

don't ya think somebody paying $62k a yr in taxes is paying enough? while many are paying $0 or even profiting off of taxes.

<crickets>

No.

And I stepped on the crickets.

Originally Posted by fatbuckRTO

I'm not sure why the differences in percentages. Ed was working with 25%, PC with 33%.

I presumed that Ed was stating tax on capital gains, while I was stating 33% income tax. At least that's what it was, for the top tax bracket, last year.

[fatbuckRTO]

Originally Posted by RACER X

don't ya think somebody paying $62k a yr in taxes is paying enough? while many are paying $0 or even profiting off of taxes.

<crickets>

I think by "crickets" you mean "record skip." You can't ask the same question over and over after it has already been answered and then complain that no one is answering you. Well, I suppose you can, but you look like an idiot doing it...