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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: American Spirit who wrote (159448)	1/31/2003 12:51:11 AM
From: TimF	Read Replies (1) \| Respond to of 1583677

Working class people in this country usually pay more than the rich. That statement is not true. Even with the tax breaks that the rich are better able to take advantage of the rich pay more in taxes, both as an absolute amount as a percentage of income. If you object to the tax breaks feel free to campaign against them, you will probably find me fighting with you, at least as long as the tax breaks go away in exchange for lower rates. Tim

To: American Spirit who wrote (159448)	1/31/2003 7:00:44 AM
From: i-node	Read Replies (1) \| Respond to of 1583677

Also if you're that rich you can shelter enormous amounts through trusts, foundations and you can buy a huge life insurance policy. If you're really clever you can take your money offshore. There are also other tax dodges like buying cattle and having a money-losing ranch or farm. These three statements are reflective of a total lack of knowledge about our system of income taxes. I'm not going to bother to correct you. But I promise, you DO NOT have the knowledge to discuss this subject area with me. Working class people in this country usually pay more than the rich. This statement is ridiculous on its face. I recognize you don't have any true knowledge of the federal tax system, but this statement is absurd. If a man makes a million bucks in a year, he's going to pay more than $300,000 -- he may pay a LITTLE less, but he isn't going to walk away with $250K in tax liability. I defy you to point to a circumstance where a man makes a million dollars and doesn't pay at least $250K in income taxes. Most working class people won't pay this in their lifetimes.