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Offline leakingpen

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« Reply #15 on: August 03, 2004, 10:38:47 AM »
sales tax, no, those are regressive by nature.  i am in favor for a flat tax FOR INDIVIDUALS.  not for coorporations.

(btw, those who think that the rich dont get off easy...  do you know the total amount of tax paid in 2003 by dick cheney?  im talking fica, medicare, income tax both federal and state?  11.7 percent.  i paid about 34 if you add all those up.  what about you?
« Last Edit: December 31, 1969, 05:00:00 PM by leakingpen »
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Offline Paco

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« Reply #16 on: August 03, 2004, 11:02:33 AM »
<blockquote id="quote"><font size="1" face="Verdana" id="quote">quote:<hr height="1" noshade id="quote"><i>Originally posted by leakingpen</i>
<br />sales tax, no, those are regressive by nature.  i am in favor for a flat tax FOR INDIVIDUALS.  not for coorporations.

(btw, those who think that the rich dont get off easy...  do you know the total amount of tax paid in 2003 by dick cheney?  im talking fica, medicare, income tax both federal and state?  11.7 percent.  i paid about 34 if you add all those up.  what about you?
<hr height="1" noshade id="quote"></blockquote id="quote"></font id="quote">

Going one better, John F'n Kerry's wife paid only 11.5% taxes in the same year.  Oh, her income that year?  $5.1M.  I'd think it would be safe to say that she's in the 35% bracket.  If JF'nK wants to raise our taxes, he should start with his wife (lol).

Flax tax for everyone would be my preference.  If businesses are included, they can afford to hire more people, pay better salaries and expand more rapidly.
« Last Edit: December 31, 1969, 05:00:00 PM by Paco »
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Offline Cochise

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« Reply #17 on: August 03, 2004, 11:20:56 AM »
<blockquote id="quote"><font size="1" face="Verdana" id="quote">quote:<hr height="1" noshade id="quote"><i>Originally posted by leakingpen</i>
<br />sales tax, no, those are regressive by nature.  i am in favor for a flat tax FOR INDIVIDUALS.  not for coorporations.

(btw, those who think that the rich dont get off easy...  do you know the total amount of tax paid in 2003 by dick cheney?  im talking fica, medicare, income tax both federal and state?  11.7 percent.  i paid about 34 if you add all those up.  what about you?
<hr height="1" noshade id="quote"></blockquote id="quote"></font id="quote">

Well, here are the numbers I found for Dick Cheney for 2003:

Wages etc.: $813,226
Taxes Owed: $253,067

That's 31.1%.  And that's JUST income tax, no FICA, Medicare, etc.  

Source:
http://www.whitehouse.gov/news/releases ... 413-5.html

I don't make up the numbers, I just present them.

I think about the taxes I pay creatively.  For example, I picture my FICA going to my grandmother or to my older brother who sometimes uses food stamps to get by.  He is a Sgt. of some flavor in the US Army stationed at Ft. Bragg.  I picture my medicare going to my grandmother's healthcare.  Finally, I picture my income tax going to my older brother's salary or to the new found freedoms being discovered in Iraq.

I guess it all depends on how you look at it.
« Last Edit: December 31, 1969, 05:00:00 PM by Cochise »
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Offline Ryandetailer

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« Reply #18 on: August 03, 2004, 02:10:00 PM »
I think of taxes as my payment for my freedoms. It just burns my hide when I see people avoid taxes, like there the only ones that have to pay. But I also don't like my pocket getting opened and stripped by congress either!
I hope that we can get some fiscal responsibility soon.

"I wonder how long I could stay out of jail if I yearly spent 150% of my yearly earnings and labelled it "deficit spending"." Cochise

I liked that saying
« Last Edit: December 31, 1969, 05:00:00 PM by Ryandetailer »
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Offline leakingpen

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« Reply #19 on: August 03, 2004, 03:04:48 PM »
agreed ryan.  i make it a habit NOT to take deductions that i could take.

and cochise.  thats his gross agusted income (agi)
cheney made over 2 million in 2003, but the majority of it falls under gains in terms of interest on accounts and stock and property that is untaxable. in large part becuase of the tax cuts.  its been estimated that he would have paid almost half a million out of an agi of 1.5 million without the tax cuts bu$hco enacted.
« Last Edit: December 31, 1969, 05:00:00 PM by leakingpen »
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Offline Cochise

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« Reply #20 on: August 03, 2004, 05:05:09 PM »
<blockquote id="quote"><font size="1" face="Verdana" id="quote">quote:<hr height="1" noshade id="quote"><i>Originally posted by leakingpen</i>
<br />i make it a habit NOT to take deductions that i could take.
<hr height="1" noshade id="quote"></blockquote id="quote"></font id="quote">
In theory, the deductions are there for you to take so that you pay a fair amount of tax.  I'm not understanding proclaiming an unfair tax amount while not taking deductions that are offered.

<blockquote id="quote"><font size="1" face="Verdana" id="quote">quote:<hr height="1" noshade id="quote">
and cochise.  thats his gross agusted income (agi)
cheney made over 2 million in 2003, but the majority of it falls under gains in terms of interest on accounts and stock and property that is untaxable. in large part becuase of the tax cuts.  its been estimated that he would have paid almost half a million out of an agi of 1.5 million without the tax cuts bu$hco enacted.
<hr height="1" noshade id="quote"></blockquote id="quote"></font id="quote">
Well, I am not as privy to Mr. Cheney's financial assets as some are.  I can go only by the numbers that I have.  

How does your income tax to AGI percentage compare?  I have found that the amount taken for FICA and Medicare is pretty scary when compared to what I am paying just for taxes.  For example, I paid 19% in federal income taxes, and 8% in FICA/Medicare for a total of 27%.  Although the FICA/MC is only half the size of the federal tax, I have a feeling that I will never see that money when my time comes [:(]
« Last Edit: December 31, 1969, 05:00:00 PM by Cochise »
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Offline leakingpen

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« Reply #21 on: August 04, 2004, 01:44:56 PM »
cochise, as stated, 34.  i have no deductions other than my personal.
« Last Edit: December 31, 1969, 05:00:00 PM by leakingpen »
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Offline Cochise

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« Reply #22 on: August 04, 2004, 02:27:35 PM »
I thought your 34 was with FICA and Medicare.  I was wondering what it was without the FICA and Medicare.
« Last Edit: December 31, 1969, 05:00:00 PM by Cochise »
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Offline leakingpen

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« Reply #23 on: August 04, 2004, 03:37:14 PM »
ohh, sorry.  i believe 26. ill have to double check.
« Last Edit: December 31, 1969, 05:00:00 PM by leakingpen »
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Offline Ryandetailer

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Flat Tax proposed
« Reply #24 on: August 02, 2004, 07:24:06 AM »
This might just be a pipe dream but, it has the chance a being a real deal. I would totaly change the economics of the States, and it would get the bureaucrats in a tizy. Both of those are well need changes to the system.


http://www.drudgereport.com/rnc.htm

“If you own property, stock, or, say, one hundred acres of farmland and tax time is approaching, you don’t want to make a mistake, so you’re almost obliged to go to a certified public accountant, tax preparer, or tax attorney to help you file a correct return. That costs a lot of money. Now multiply the amount you have to pay by the total number of people who are in the same boat. You can’t. No one can because precise numbers don’t exist. But we can stipulate that we’re talking about a huge amount. Now consider that a flat tax, national sales tax, or VAT would not only eliminate the need to do this, it could also eliminate the Internal Revenue Service (IRS) itself and make the process of paying taxes much easier."



http://www.fairtax.org/origins.asp

"Simply put, the FairTax replaces the way we're currently taxed - based on our annual income - with a tax on goods and services. The FairTax is a voluntary “consumption" tax: the more you buy, the more you pay in taxes, the less you buy, the less you pay in taxes.
It's simple."
« Last Edit: December 31, 1969, 05:00:00 PM by Ryandetailer »
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