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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: cnyndwllr who wrote (125502)	11/24/2009 4:17:39 PM
From: slacker711	Respond to of 542139

In addition, the few charts I've seen that do show the critically important third variable use NET income versus gross income. That's misleading, however, since accounting tricks, depreciation write offs and other tax loopholes allow the very rich to reduce gross income far below their real spendable level of income. The numbers for these tables are from the IRS so they are the reason that they all show AGI. taxfoundation.org That's misleading, however, since accounting tricks, depreciation write offs and other tax loopholes allow the very rich to reduce gross income far below their real spendable level of income. Do you have numbers to back this statement up? Yes, there are a number of deductions that come before AGI, but labeling them all "accounting tricks" is also misleading. For example, stock losses are generally real losses....at least they are in my case <g>. Regardless though, your comments about AGI and the rich doesnt change the fact that the bottom 50% pays very very little in income taxes (even when compared to their share of total income). Slacker

To: cnyndwllr who wrote (125502)	11/24/2009 6:32:47 PM
From: quehubo	Read Replies (1) \| Respond to of 542139

My concern with respect to Obamacare is not whether the present income tax structure is fair, but how the huge liability of Obamacare should be funded. Making the present income tax structure fairer is not going to make an impact on funding healthcare. I like table 1 and show people at work this table when they are thinking someone else is going to be paying the taxes the government is discussing. The top 25% is already paying 68.7% and I suspect the vast majority of these people are not feeling flush enough to pay for the health care of the bottom 75%. I suspect a good deal of the top 25% are struggling to pay their own health care. taxfoundation.org The item I find unfair is the wealthy top 5% paying 20.5% This no doubt is done through 15% on dividend income and capital gains. I suspect the health care system will collapse when tens of millions show up to make appointments and they have little or no cost exposure because their income is too low. Everyone should have some cost exposure for every service.