Federal tax rates

Seems you are listening to someone and not checking the facts. I paid taxes as a working class person, I get back refunds using standard deductions, middle class and taxed, no where near the 100% you say we pay that would mean we have no money to buy groceries, houses vehicles or anything else. You seem to think the rich should be robbed to support those who won't work and are able too. I have worked hard all my life as a construction worker in chemical plants and refineries, now I am in management and you see me as undeserving of the money I make because I worked hard and made my way up. To be rewarded now by being a manager.

14 Facts you need to check out:

The truth is that we are taxed more than enough already.

The following facts about taxation in the United States for you to consider:

#1 The top 1 percent of all income earners already pay 39.5 percent of all federal income taxes.

#2 When you take all forms of federal taxation into account, the top 1 percent of all income earners pay 28.1 percent of all federal taxes.

#3 The top 20 percent of all income earners in the United States pay approximately 86 percent of all federal income taxes.


So how much more do you think th top 20 percent of income earners should pay of the remining 14% of federal income taxes? You want the top 20% to pay 100% and you pay nothing? Jesus told us to give unto Ceasear what belongs to Ceasear in other words pay our taxes.

others to go with it on this website:

http://endoftheamericandream.com/archives/tax-the-rich-14-facts-you-may-want-to-consider

 

Want more facts:

http://abcnews.go.com/blogs/politics/2011/09/fact-check-the-richtheir-secretaries-and-taxes/

The key numbers: this year those earning over $1 million will pay, on average, 29.1 percent on federal taxes. Those earning between $50,000 and $75,000 will pay 15 percent.

So how is you figure the working people are taxed 100%. How much more do you want the rich to pay of their income that is fair? 50% or more? 21% increase for them then taking a 21% to the middle class making $50000 to $75000 would put them paying 26% tax raite, is that enough for them being robbed of what they earn, the key is no matter the job they earn it.

 

>The truth is that we are taxed more than enough already.

Who is "we," Kemosabe?

>The key numbers: this year those earning over $1 million will pay, on average, 29.1 percent on federal taxes.

The catch is "earning." Capital gains are not salary/earnings.

>So how is you figure the working people are taxed 100%.

On a billionaire's profit and loss statement rounded to the nearest $100K, rounding error would would show zero net income.

Still boggles my mind that people who have to scramble to stay alive can conclude that people born billionaires should only pay 10% on their capital gains.

 

If you aren't being taxed enough - just pay more.

Or do your convictions only go as far as someone else paying more?

 

Horrible idea! This will only cause the poor to suffer more while the wealthy live even more lavishly.

 

Haven't Obama and Buffet been advocating that Buffet pay the same rate as his secretray?

If the rich are supposedly paying less than the middle class wouldn't then paying the same mean that the rich would be paying more?

 

How is that logic even possible?

So the "poor" makes $25,000 a year, and at a 10% tax rate would pay $2,500 - leaving $22,500 for living expenses.

The "rich" who makes $1,000,000 at a 10% tax rate would pay $100,000. That's $97,500 more than the "poor." Seems like the "rich" is paying quite a bit more than the poor -- so I'm failing to see how that causes the poor to suffer more.

So how do you figure that such a system causes the poor to suffer more while the wealthy live even more lavishly? A straight tax rate, no deductions, do charitable contributions, no way to decrease the amount you pay -- you're going to have to explain how that system "penalizes" the poor.

To the contrary: Such a system actually supports Darwin's theory of "survival of the fittest." The biggest caveman took the largest piece of the kill; and the weakest caveman sat back and either figured out a way to get more food, or died. You work harder than the others around you, and you make more money than they do -- and then someone says that because you worked harder, you have to share the fruits of your labor?

Nonsense.

 

The purpose of having money is buying stuff and accumulating power.

The top 1% already owns 90% of everything worth owning (hard assets) and controls both political parties, and I suppose, the UN, the IMF, and the other "initial" outfits.

Someone please explain why, when they own 99% of everything worth owning, why they should want more money or need a "middle class" after we are all their serfs?

 

Boggles my mind how people think capital gains should be taxed. Sell a house that you had some funds i and make a $5000 profit pay Capital Gains, rich or poor. Do away with capital gains and death taxes.

 

The we includes me, maybe not you maybe you didn't pay taxes, I sure did and everytime I put fuel in my vehicle I pay federal taxes. Everytime I buy food I pasy Federal taxes on the fuel the trucker buys. Capital Gains are taxable to a certain amount. Sell a house pay capital gains.

Leave an inheritence:

http://en.wikipedia.org/wiki/Estate_tax_in_the_United_States

Tentative taxThe tentative tax is based on the tentative tax base, which is the sum of the taxable estate and the "adjusted taxable gifts" (i.e., taxable gifts made after 1976). For decedents dying after December 31, 2009, the tentative tax will, with exceptions, be calculated by applying the following tax rates:

Lower Limit Upper Limit Initial Taxation Further Taxation
0 $10,000 $0 18% of the amount
$10,000 $20,000 $1,800 20% of the excess
$20,000 $40,000 $3,800 22% of the excess
$40,000 $60,000 $8,200 24% of the excess
$60,000 $80,000 $13,000 26% of the excess
$80,000 $100,000 $18,200 28% of the excess
$100,000 $150,000 $23,800 30% of the excess
$150,000 $250,000 $38,800 32% of the excess
$250,000 $500,000 $70,800 34% of the excess
$500,000 and over $155,800 35% of the excess

--Internal Revenue Code section 2001(c), as amended by section 302(a)(2) of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (H.R. 4853), Pub. L. No. 111-312, ___ Stat. ___ (Dec. 17, 2010).

The tentative tax is reduced by gift tax that would have been paid on the adjusted taxable gifts, based on the rates in effect on the date of death (which means that the reduction is not necessarily equal to the gift tax actually paid on those gifts)."


revmwc:
Again the rich pay a higher rate for death taxes. Yet you see them never paying enough.

A flat tax would be fair for all everyone paying the same tax rate.

The rich die and leave a large estate, Here is the IRS rule:

http://www.irs.gov/businesses/small/article/0,,id=164871,00.html

Most relatively simple estates (cash, publicly traded securities, small amounts of other easily valued assets, and no special deductions or elections, or jointly held property) do not require the filing of an estate tax return. A filing is required for estates with combined gross assets and prior taxable gifts exceeding $1,500,000 in 2004 - 2005; $2,000,000 in 2006 - 2008; $3,500,000 for decedents dying in 2009; and $5,000,000 or more for decedent's dying in 2010 or later (note: there are special rules for decedents dying in 2010.)

Over and over again we see the rich taxed at greater rates and for more things than the middle class and poor.

 

Perhaps to you it is.

However in my Christian walk money has other purposes.

Perhaps your outlook is your problem.

 

>and when the rich spend money

Does anyone think that a person with 10 billion in invested assets spends as much as two times on consumer goods as the guy with only two billion? The very rich DON'T spend much of their money. They buy and keep assets. They buy politicians.

How will the 10% get the last 10% of hard assets? The housing crash is a part of their plan. For most of the 90%, their house is their only major asset. When their house is repo'd they have nothing the 10% want except maybe the gold in their teeth.

 

WORKING CLASS

0 $10,000 $0 18% of the amount
$10,000 $20,000 $1,800 20% of the excess
$20,000 $40,000 $3,800 22% of the excess
$40,000 $60,000 $8,200 24% of the excess
$60,000 $80,000 $13,000 26% of the excess
$80,000 $100,000 $18,200 28% of the excess
$100,000 $150,000 $23,800 30% of the excess

MIDDLE CLASS

$150,000 $250,000 $38,800 32% of the excess
$250,000 $500,000 $70,800 34% of the excess

START OF "RICH"


$500,000 and over $155,800 35% of the excess

 

See you don't even have the middle class correct. Middle class according to the President and DEMS are those who make $40,000 to $100, 000 after that they are considered the rich. But notice what you posted the rich still pay higher than anyone else with 35%