How much should the rich pay?

Isn't that the bill that got Bush 41 in trouble because of his "read my lips, no new taxes" speech.

That was one of the things that got him unelected.

Still trying to dodge the truth CJ? I will admit, as I did previously (you missed it), that George H. W. Bush did sign the Omnibus Budget bill written by a democratic congress (not George Bush). In that Omnibus bill was the luxury tax. Afterwards, (you're in denial of this) Bush worked to repeal that tax (see the links I posted) over the opposition of the democrats. So you see it was a democrat tax and that cannot be denied except by a utter idiot . Here is a salient point; taxes hurt an American business as was predicted by the conservatives. Clinton had to force a bipartisan repeal to try to bring the industry back to life.

Important points in this chapter:
The Luxury Yacht tax was in the democratically written Omnibus Budget Bill.
George H W Bush signed the Omnibus Budget Bill.
Bush did not have a line item veto.
After signing the Omnibus Budget Bill, Bush worked to repeal the luxury tax but was stopped by the democrats in Congress.
The yacht industry tanked in the United States as people like John Kerry went overseas to buy their yachts.
Bill Clinton was able to repeal the luxury tax with the help of a GOP controlled Congress with bipartisan support.
Taxes hurt industry and put regular Americans out of work.
Democrats still want to raise taxes despite the lesson from history.

Yes, that is exactly what happened. The democrats approached Bush and promised a spending reduction of 3/1 for a tax increase in their budget bill. Bush bought into their bullshit and signed off on the tax increase (breaking his promise). Later the democrats did not do any spending reduction.
http://en.wikipedia.org/wiki/Read_my_lips:_no_new_taxes

The budget in 1990: 5,734,000,000,000 dollars
1991: 5, 930,000,000,000 dollars
1992: 6,242,000,000,000 dollars
1993: 6,587,000,000,000 dollars

See any promised reduction? Yes, I used the word promised as in broken promises by the democratic party.

Still trying to dodge the truth CJ? I will admit, as I did previously (you missed it), that George H. W. Bush did sign the Omnibus Budget bill written by a democratic congress (not George Bush). In that Omnibus bill was the luxury tax. Afterwards, (you're in denial of this) Bush worked to repeal that tax (see the links I posted) over the opposition of the democrats. So you see it was a democrat tax and that cannot be denied except by a utter idiot . Here is a salient point; taxes hurt an American business as was predicted by the conservatives. Clinton had to force a bipartisan repeal to try to bring the industry back to life.

Important points in this chapter:
The Luxury Yacht tax was in the democratically written Omnibus Budget Bill.
George H W Bush signed the Omnibus Budget Bill.
Bush did not have a line item veto.
After signing the Omnibus Budget Bill, Bush worked to repeal the luxury tax but was stopped by the democrats in Congress.
The yacht industry tanked in the United States as people like John Kerry went overseas to buy their yachts.
Bill Clinton was able to repeal the luxury tax with the help of a GOP controlled Congress with bipartisan support.
Taxes hurt industry and put regular Americans out of work.
Democrats still want to raise taxes despite the lesson from history. Originally Posted by JD Barleycorn

are you going to dance around the entire truth? sure you are. Boat sales were on a downward spiral before the lux tax went into law ..

Here, let me help...


According to the manufacturers association, new boat sales, which reached a high of 749,020 in 1988, dropped to 504,100 in 1990 and are expected to drop even more sharply this year. .

Mr. McMichael's father, who founded the business, said this season is the worst he can remember.
"Everything hit at once," he said. "The luxury tax plus the recession left boat dealers with large inventories of boats they can't sell while they owe the banks millions of dollars in outstanding loans."


see the recession part JLSD? ... that is a large part of the scenario that you dont know... study up.

Hmmm, you are using an example of state sales tax to make a point about federal income tax? . Originally Posted by nwarounder

Yes, in fact I am.

You really have to combine all taxes to have an understanding in just how the whole tax system works in this country.

See if a poor person that makes 10k buys a car that cost 10k and pays $700 in sales tax , he is paying 7% of his gross income in sales tax. Do you understand what a regressive tax is.

A man making 10 million that bought a 100k car would pay 7k in sales tax, yet that would only be .0007% of his gross income.

That is why we have a progressive tax system.

I get that you want the wealthier to pay more than the poor, but even the bible doesn't suggest that a wealthy person should tithe 20% of their income and a poor person should tithe 10% to support the church. . Originally Posted by nwarounder

Who gives a shit what the Bible says? The church does not have regressive taxes! Therefore it does not need to off-set those with progressive taxes.

Learn how symbiotic these taxes are and get back with me.

If a flat tax was adopted, I would however have no problem with a state that wanted to have a higher tax rate or progressive tax rate based on the price of the vehicle. Originally Posted by nwarounder

Why do some of you have no problem with the State telling you wtf to do but you piss your pants if the Feds try?

I want neither the Feds nor the state telling me what is right or wrong. I have the good sense to know that myself.

are you going to dance around the entire truth? sure you are. Boat sales were on a downward spiral before the lux tax went into law ..

Here, let me help...
Originally Posted by CJ7

JD likes to give credit to the President in charge if he is a Republican. If there is a Democrat in office, he gives credit to the GOP congress.

All these Tea Folks are the same. Reagan bla bla bla...great great great. Anything that went bad under Reagan was congress's fault. Cut taxes and life will be all good....don't mess with our Medicare!

They have no linear thought process. All they offer are excuses. Oh and out and out lies.

Yes, in fact I am.

You really have to combine all taxes to have an understanding in just how the whole tax system works in this country.

See if a poor person that makes 10k buys a car that cost 10k and pays $700 in sales tax , he is paying 7% of his gross income in sales tax. Do you understand what a regressive tax is.

A man making 10 million that bought a 100k car would pay 7k in sales tax, yet that would only be .0007% of his gross income.

That is why we have a progressive tax system.




Who gives a shit what the Bible says? The church does not have regressive taxes! Therefore it does not need to off-set those with progressive taxes.

Learn how symbiotic thes taxes are and get back with me.




Why do some of you have no problem with the State telling you wtf to do but you piss your pants if the Feds try?

I want neither the Feds nor the state telling me what is right or wrong. I have the good sense to know that myself. Originally Posted by WTF

percentages fuck with their minds

percentages fuck with their minds Originally Posted by CJ7

Whew, you guys are right! All I know is I pay my tax lawyer 10-20 grand a year so I can pay less taxes than a person that makes ten to twenty times less than I do. You can do the math and the percentages all day long. I thought I was being nice to the less fortunate by suggesting a tax rate or different method that would require I pay more than what I do now. But hey, if you guys are okay with it, I'll just keep my cash and feel good about it.

Whew, you guys are right! All I know is I pay my tax lawyer 10-20 grand a year so I can pay less taxes than a person that makes ten to twenty times less than I do. You can do the math and the percentages all day long. I thought I was being nice to the less fortunate by suggesting a tax rate or different method that would require I pay more than what I do now. But hey, if you guys are okay with it, I'll just keep my cash and feel good about it. Originally Posted by nwarounder

LOL


just fire your lawyer.

LOL


just fire your lawyer. Originally Posted by CJ7

Can't, he's my golf partner, LOL

Can't, he's my golf partner, LOL Originally Posted by nwarounder

I had an entire firm on retainer (for the business) for 12 years .. civil, corporate, real estate you name it .. one Perry Mason-Libowitz handled my divorce ... after 18, doing open wallet surgery on those guys was my favorite sport

I think that if you are one of the 40% who don't pay taxes at all then you should not have a say in how much the "rich" should pay.

I think that you are one of the 40% who don't pay taxes at all then you should have any say in how much the "rich" should pay. Originally Posted by TheDaliLama

you who?

Sorry....I found my glasses and corrected my remark.

I think that if you are one of the 40% who don't pay taxes at all then you should not have a say in how much the "rich" should pay. Originally Posted by TheDaliLama

I understand the angst, but it is not really fair, for the unemployed and the poor may get a job and rise up to taxpayer status.