Do you agree that all the Bush tax cuts should expire? Or just those on the lower income bracket?
Originally Posted by WTF
I know this will probably cause you to go into a coughing fit, but I would support expiration of the Bush tax rates. (They've been in place for a decade. They are the current rates. Just because the gutless GOP Congress wouldn't make them permanent doesn't change the fact.) Catch your breath. Now for the rest of the statement: if they were part of a comprehensive revision of the tax code and every dime of the difference went to retiring the current debt (no fair using them for new spending). If you read between the lines that means scrapping the current tax code and a balanced budget amendment.
Do you know the difference between a regressive tax and a progressive tax.
Originally Posted by WTF
I assume that is a rhetorical question. And because I said I wouldn't remind you again that the subject under discussion was FEDERAL INCOME TAXES, I won't justify it with an answer.
You sir, do not have a clue as to how the tax system works.
Originally Posted by WTF
I guess I missed learning about the tax system while I was filling out all those tax returns in the over 35 years of my working life. And apparently you, sir, don't have a clue how to argue a point in a civil manner. Let me help you: "Jim, your example of a family earning $50,000 not paying taxes is not accurate. Blah, blah, family of four, blah, blah. Also, I will bring in the irrelevant, but necessary to prove my point, discussion of payroll taxes and 'contributions'."
Of course, I didn't do their taxes for them, I was cranking out a response before jumping in the shower to go to work, where I work behind a firewall and don't have time to play with ECCIE posts. And, I didn't say a family of four. Subtract the child deductions. Or make it a family of six, I don't care. The point is that - according to the CBO - in 2006 (the last year of presented data) the bottom two quartiles paid -5.6% (that's negative five point six percent) of all federal income taxes paid.
http://cbo.gov/publications/collecti...stribution.cfm
Bottom line, even if it is 1% of income, everyone gets the benefits of living in this country, and should pay
something towards it's maintenance.
Spare me the "where are they going to get the money to pay the tax?" mantra. According to the Census bureau, the average family in 2005 with income below the poverty level:
-lived in a house or apartment equipped with air conditioning and cable TV
- had a car (a third of the poor have two or more cars)
- had two color televisions, a DVD player, and a VCR
- if there were children in the home (especially boys), the family had a game system, such as an Xbox or PlayStation
- the household had a microwave, refrigerator, and an oven and stove
- other household conveniences included a clothes washer, clothes dryer, ceiling fans, a cordless phone, and a coffee maker
Now, obviously that doesn't apply to everyone below the poverty level or the systemically poor, but this doesn't even compare to the gut-wrenching poverty I saw overseas while I was serving in armed forces.
Sorry, it took so long to get back to you, but my computer hard drive took a hard crash and had to be replaced. And yes, I paid the taxes on it.