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

To: Alex MG who wrote (762432)	1/8/2014 7:35:26 PM
From: average joe	Read Replies (1) \| Respond to of 1573848

"In view of what they hear from the experts, the people cannot be blamed for their ignorance and their helpless confusion. If an average housewife struggles with her incomprehensibly shrinking budget and sees a tycoon in a resplendent limousine, she might well think that just one of his diamond cuff links would solve all her problems. She has no way of knowing that if all the personal luxuries of all the tycoons were expropriated, it would not feed her family—and millions of other, similar families—for one week; and that the entire country would starve on the first morning of the week to follow . . . . How would she know it, if all the voices she hears are telling her that we must soak the rich? No one tells her that higher taxes imposed on the rich (and the semi-rich) will not come out of their consumption expenditures, but out of their investment capital (i.e., their savings); that such taxes will mean less investment, i.e., less production, fewer jobs, higher prices for scarcer goods; and that by the time the rich have to lower their standard of living, hers will be gone, along with her savings and her husband’s job—and no power in the world (no economic power) will be able to revive the dead industries (there will be no such power left)." Ayn Rand

To: Alex MG who wrote (762432)	1/8/2014 7:41:48 PM
From: jlallen	Respond to of 1573848

LOL!!! How do you know what money paid, you moron? Typical pinhead....long on accusations...short on facts. Did your Mom have any kids who were not brain damaged???

To: Alex MG who wrote (762432)	1/8/2014 11:38:04 PM
From: TimF	Respond to of 1573848

in the only tax release the phony fucker Romney would release he only paid 13% in fed taxes. 1 - We aren't talking about Romney, we are talking about paying taxes. There are over 130 million tax return filed. At least about half of those are net federal income tax payers. Romney is one person, not all tax payers or even all rich tax payers. 2 - Its unfortunate that anyone has to pay as much as 13%. 3 - That's his average effective federal income tax rate. Not his marginal income tax rate (which is higher) and not his total tax rate or total federal tax rate. 4 - Romney paid less than the average person with his income, but not then low end workers, they pay less then he did. He paid a similar rate in federal personal income taxes as the average person in the middle quintile paid for all federal taxes. Just considering federal income taxes he paid more than the average for the 90-95th percentile, and almost as much as the average person in the 95-99th percentile. Of course his income was above the 99th percentile, which is why I say he paid a bit less then what's typical for someone at his level, but he paid a higher percentage of his income in federal income taxes than most Americans pay. And apparently (although I would need more data to be 100% sure) a higher percentage of his income in all federal taxes (and probably in all federal state and local taxes) then most Americans pay. SOURCE: TPC, Table T12-0018 Effective Federal Tax Rates by Cash Income Percentile; 2011, February 2012. Compiled by PGPF. NOTE: Individual income tax rates for the lowest and second lowest quintiles are negative and are netted against the payroll tax rate. A quintile is one fifth of the population. Calculations assume that employees also pay the employer portion of payroll taxes in the form ofreduced wages. The breaks are (in 2011 dollars): 20% $16,812; 40% $33,542; 60% $59,486; 80% $103,465; 90% $163,173; 95% $210,998; 99% $532,613; 99.9% $2,178,886. pgpf.org 5 - One of the important reasons he paid "such a low amount" was his massive charitable contributions. Also I'm pretty sure some of his income comes from long term capital gains (where the effective rate is more since they are not adjusted for inflation), probably some is from dividends (a 2nd tax on money that's already taxed), and it wouldn't surprise me if some comes from tax free bonds (where he's effectively obviously the other years he paid NOTHING* 1 - Not even remotely obvious. There is no reason to think that at all. 2 - The subject is taxes, not Romney. Specifically it was your quote of Holmes about taxes being the price to pay for civilization. That not quite true, there are other ways to maintain civilization without taxes, but communism doesn't work, and trying it results in somewhere between a really bad situation and pure disaster, and anarcho-capitalism is totally untried. For practical reasons I'll stick with a system that pays taxes, despite the injustice of any tax, but only a small fraction of tax income that government's receive in the US is needed to maintain civilization. Depending on certain assumptions what you throw under that umbrella it would be somewhere between less than 1 percent to as high as maybe 15 percent (a bit more in war time, but if your talking about "maintaining civilization in the US", you wouldn't have to include every war the US has gotten in to.