FACT CHECK: Are rich taxed less than secretaries?

http://news.yahoo.com/fact-check-ric...070642868.html

http://news.yahoo.com/fact-check-ric...070642868.html Originally Posted by dennisrn

Yeah, I got a chuckle out of this one. The lefties on various sites were beside themselves at the "betrayal" by the media.

I'm sure they'll trot out a completing survey which contradicts this...as soon as they can get the pollsters to design it to get the desired result!

$$ They pay more, but I remember when they posted GWB's return. He paid more then me in $$ but I paid a higher %. Should be a flat tax or sales tax. That way everyone pays their fair share.

I heard the Obama speech saying the rich should be taxed the same as a secretary or plumber. Did he realize he just advocated the flat tax? I think every one rich and now considered rich would vote for that today.

In fact after hearin how Herman Cain's 999 plan would work I'm kind of digging that as wells!

Buffet can claim that he pays a lower rate because he collects most of his income via dividends which are taxed at 15%. So yes, when he combines that with his salary which has a marginal tax rate of 35%, his combined rate will be lower than his secretary because he probably only pays him/her 100k per year.
However, before a corporation pays out dividends, they have to pay a corporate tax on that income, usually around 27% or so, which creates the double taxation you've heard about. So, the dividend income that Buffet receives is actually taxed at around 42%, which is a higher rate than what his secretary pays. And that's just the Federal taxes on that income...

BTW why doesn't Buffet pay the 1 billon in back taxes he's beef fighting the IRS over for the past 5 years? You think that what he's saying now might be in exchange for a better deal?

BTW why doesn't Buffet pay the 1 billon in back taxes he's beef fighting the IRS over for the past 5 years? You think that what he's saying now might be in exchange for a better deal? Originally Posted by Rakhir

He's waiting on his secretary to pay it for him.

The question should be: can the rich AFFORD to pay a higher % of their income in taxes in order to help our economy? And the answer is: yes.

Now, this is your cue to start countering. lol

The question should be: can the rich AFFORD to pay a higher % of their income in taxes in order to help our economy? And the answer is: yes.

Now, this is your cue to start countering. lol Originally Posted by playansa

Yeah, I've heard that point recently. It's a plausible one because they are the only ones that can help us get out of debt without drastically effecting the economy like a tax hike on the middle class and the poor would.

Of course we'll hear the whole welfare, government spending crap again but it never seems like that's a problem when they're the receiving end of all the loop holes and tax breaks.

The question should be: can the rich AFFORD to pay a higher % of their income in taxes in order to help our economy? And the answer is: yes.

Now, this is your cue to start countering. lol Originally Posted by playansa

Yeah, I've heard that point recently. It's a plausible one because they are the only ones that can help us get out of debt without drastically affecting the economy like a tax hike on the middle class and the poor would.

Of course we'll hear the whole welfare, government spending crap again but it never seems like that's a problem when they're the receiving end of all the loop holes and tax breaks.

Yeah, I've heard that point recently. It's a plausible one because they are the only ones that can help us get out of debt without drastically affecting the economy like a tax hike on the middle class and the poor would.

Of course we'll hear the whole welfare, government spending crap again but it never seems like that's a problem when they're the receiving end of all the loop holes and tax breaks. Originally Posted by Rodram

The whole welfare, gov. spending CRAP? Thats a pretty big freakin problem that the libs & this incompitent admin. have. Wasteful spending! How many companies has the oblahblah admin. granted assistance to and they've gone down the tubes? GREEN ENERGY what a freakin joke its not gonna stop with solandrya. So since the rich should pay their "fair share" besides 70% of all taxes why don't they hold g.e. accountable? Oh, but only repubs make deals with special interest groups and lobbyists right? I read that solandrya started with Bush from a fellow poster. It did. The Bush admin. rejected them. Revenue is not the problem, wasteful spending is. I'm not sweating it because the country is awakening and this pitiful liberal agenda is in its last hoorah. HERMAN CAIN, BITCHES!

The whole welfare, gov. spending CRAP? Thats a pretty big freakin problem that the libs & this incompitent admin. have. Wasteful spending! How many companies has the oblahblah admin. granted assistance to and they've gone down the tubes? GREEN ENERGY what a freakin joke its not gonna stop with solandrya. So since the rich should pay their "fair share" besides 70% of all taxes why don't they hold g.e. accountable? Oh, but only repubs make deals with special interest groups and lobbyists right? I read that solandrya started with Bush from a fellow poster. It did. The Bush admin. rejected them. Revenue is not the problem, wasteful spending is. I'm not sweating it because the country is awakening and this pitiful liberal agenda is in its last hoorah. HERMAN CAIN, BITCHES! Originally Posted by RobbThrobb

Robb, make sure that you support Herman Cain with as much cash as you can so your voice is heard. Good Luck!