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

To: michael97123 who wrote (461301)	3/5/2009 10:39:09 AM
From: i-node	Read Replies (1) \| Respond to of 1574679

you believe wealthy pay most of the taxes (true on income tax) but ignore fica, medidcare, state tax, sales tax which takes an ungodly burden from the 50% who now pay no income tax or many others who pay very little. If i am wrong in my characterization of your view i will apologize. Michael I'm a CPA who has prepared thousands of tax returns and been the guy who hands those returns to clients and told them what they owe. Telling a person who made $30,000 last year that he owes $7,000 in taxes because of a flat 15% SE tax rate is the worst part of the job. Before IRS had the teeth to stop it, I set up 100s of S-corporations SOLELY for the purpose of avoiding SE taxes on little guys who were being killed by it. So, I would say I have at least as good a sense of what these flat taxes do to low-earning taxpayers as anyone else on this thread, and probably better. I've seen the damage (and disbelief) first hand when a person living on minimal income is blindsided by these massive flat tax rates. I am also the one person on this thread who consistently acknowledges the $50 Trillion in unrecorded liabilities for Medicare and SS that is ultimately going to result in massive increases in these flat taxes. Nobody else here has expressed the slightest concern. Yet, because I understand what flat taxes do to those who can least afford it, I am concerned about it. This is specifically the reason I have criticized Obama's massive spending. It f*ing has to be paid back! By someone. Sooner or later.