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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: DuckTapeSunroof who wrote (358349)	2/12/2003 5:33:19 PM
From: Bill	Read Replies (1) \| Respond to of 769670

Exercised stock options are treated as current income at the time of exercise, and are fully taxable whether they are sold or not. The other "shelters" you mention deal neither with individuals nor earned income. Some aren't even legal. You've gone down this road before and have struck out every time. The top 5% don't pay 67% of the taxes by loopholing!

To: DuckTapeSunroof who wrote (358349)	2/12/2003 5:37:48 PM
From: Steve Dietrich	Read Replies (3) \| Respond to of 769670

here's a useful study on effective tax rates from the CBO: cbo.gov When one considers payroll taxes, the tax code isn't very progressive at all. And if one considers the amount of taxes one pays based on the amount of wealth they own, the tax code is actually regressive. It continues to amaze me the Republicans say "you can't get a tax cut if you don't pay taxes" yet they refuse to cut payroll taxes which are paid by everyone who works and then eliminate the estate tax which is paid by virtually no one. Steve

To: DuckTapeSunroof who wrote (358349)	2/12/2003 6:43:56 PM
From: Srexley	Read Replies (1) \| Respond to of 769670

"have you ever availed yourself of the oil depletion allowance?" No. Explain how this is available to an individual's Federal Income tax. Is this oil that is depleted in my car? I would like to get in on this one. "Written off a 'business lunch?" My business has. And it is 25% of the amount that is deductable. How does an individual write this off without breaking the law? Keep the 2% rule in mind when you answer. "Do you domicile yourself on a nice sunny island so all your earned interest and dividends are tax-free" I am an individual citizen in the United States. Please explain how I can legally avoid paying my Federal income tax with this feature. It sounds nice, and I like sunny islands. "Do you (like Microsoft)" I'm not a corporation (although I have one). Sounds like you may be confusing Federal Income tax with corporate tax. It appears that you, as most demos that like to argue their causes like to confuse the issue to attempt to make your case. Nothing you have stated even seems to be related to one's Federal Income tax, and NONE OF IT explains how the top 10% of income earners pay the lions share of the taxes.