[quote=HockeyDad]The topic was Federal Income Tax.[/quote]

I'm quite aware of that. By just using Federal Income Tax though it skews the overall tax burden results, something those on the right are doing in an attempt to make a political point rather than a sound fiscal policy suggestion.

[quote=wheelrite]

not to mention, The cost of preparing for each audit was about $5k each,,,[/quote]

Either you don't keep good records or that figure is a lie.

[quote=wheelrite]Btw,

Fuzz and Brewha,,

you do realize Obama is proposimg eliminating your Mortagage Interst deduction and Fuzz,your State income Tax deduction too.[/quote]

I don't think I am special.

[quote=wheelrite]My point is Our resident Bleeding Hearts think it's not about them..

[/quote]

Another strange misperception on your part.

[quote=HockeyDad]You made the assumption that they own a home and pay state income taxes.[/quote]

Are you making an assumption that we don't?

[quote=HockeyDad]Actually I think that 47% of households don't pay Federal Income Tax is an IRS published statistic.

You're trying to blur it with talk of property and sales taxes that some little old lady pays.

Why should a disabled vet or a little old lady or kids whose parents were killed not have to pay their fair share of taxes?

[/quote]

You can't bring up 'fair' if you don't believe in the concept. Besides what would be fair for a person on a limited income above and beyond the other taxes they are responsible for? Let's say they take in 15k a year in a fixed income. What you are advocating is taking more from that person who is barely making it while not asking someone who takes in 1000% more.

[quote=FuzzNJ]I'm quite aware of that. By just using Federal Income Tax though it skews the overall tax burden results, something those on the right are doing in an attempt to make a political point rather than a sound fiscal policy suggestion.[/quote]

Well DUH!

If anyone made sound fiscal policy decisions we wouldn't have $15 trillion in debt!

[quote=HockeyDad]Your preferred method of achieving equity and balance is to use punishment. You just don't want to call it that because it makes you look like a greedy baztard.[/quote]

Punishment = paying taxes.

Oh – now I see the “point”.

And that would be "godless, greedy baztard". (just helpin ya out).

It is a privilege for an American to support his country. That’s why so many serve and give their lives. It is sad that you see people doing their part as punishment.

[quote=wheelrite]Social Security is already Taxed and Clinton increased that Tax.

[/quote]

I thought you said poor people don't pay taxes?

[quote=wheelrite]

A College loan is just that a loan,pay it back...

[/quote]

duh. One issue is that congress thought that the private banking industry could do a 'better' job than government with regards to student loans and let them make the rules as to how much interest they could charge making a college loan much much more difficult to repay.

[quote=wheelrite]

Billionaires have already payed income tax on the money they've invested.That's why they pay Cap Gains...

[/quote]

Yes, capital gains at a rate of 15%, not the 35+ that other income is taxed at. Sure, they paid taxes on the money they invested, why should the money earned from that investment be taxed at a lower rate. It's still income.

[quote=wheelrite]

Which poor person employs you ?[/quote]

Ah yes, the job creator argument. How has that been working out?

[quote=FuzzNJ]You can't bring up 'fair' if you don't believe in the concept. Besides what would be fair for a person on a limited income above and beyond the other taxes they are responsible for? Let's say they take in 15k a year in a fixed income. What you are advocating is taking more from that person who is barely making it while not asking someone who takes in 1000% more. [/quote]

I've been the one saying "fair" is a load of crap. It has no practical definition in the conversation.

[quote=wheelrite]well that's where we differ,,

I believe that the Majority of people are honest.

[/quote]

lmao. Let's all hands and sing Pollyanna.

[quote=FuzzNJ]Yes, capital gains at a rate of 15%, not the 35+ that other income is taxed at. Sure, they paid taxes on the money they invested, why should the money earned from that investment be taxed at a lower rate. It's still income.

[/quote]

I think it is already a done deal that short term capital gains, long term capital gains, and dividends will soon be taxed the exact same as any other income.

I also do not think that will satisfy the bloodlust for the rich to pay their fair share.

[quote=tailgater]The longer this lasts, the more obvious it is that OWS simply wants the governement to take care of them.

[/quote]

This is true only if one ignores 95% of what the people are actually saying.

[quote=Brewha]Punishment = paying taxes.

Oh – now I see the “point”.

And that would be "godless, greedy baztard". (just helpin ya out).

It is a privilege for an American to support his country. That’s why so many serve and give their lives. It is sad that you see people doing their part as punishment.[/quote]

If punishment = paying taxes, you want increased punishment for the more successful.

God bless America, and thank you for your service. It is a shame that you see people doing their part as not being good enough.

[quote=HockeyDad]Rich, upper class, middle class, lower class have no actual definition. The best you can go off is IRS and Census statistics.

Occupy Wall Street talks about the evil top 1%. Those evil doers are households making more than $380K.

[/quote]

There is very little talk of 'evilness' of individual people, it's more of a demand for equal justice under the law and economic system. A shift from a corporate centered economy to a citizen centered one.

[quote=HockeyDad]

A lot of people who think they are middle class are easily top 20% or even top 10%. [/quote]

I'm glad you brought that up. People have studied that. Figure 4 from the academic piece linked below deals with the subject and it's interesting to say the least. The entire piece is full of great info.

http://sociology.ucsc.edu/whorulesamerica/power/wealth.html 

At what point have I done my part plus about 4 other peoples part as well?

[quote=HockeyDad]Perhaps I'll rewrite in terms you can understand.

The US fairs the successful.[/quote]

The US has the most millionaires, over 5,000,000 of them. We also have the most billionaires. Corporate profits have never been higher.

Yes, they are so severely punished, how will they ever survive.

[quote=HockeyDad]Your preferred method of achieving equity and balance is to use punishment. You just don't want to call it that because it makes you look like a greedy baztard.[/quote]

aaahahahahahahaha, you can't even be serious here. Seriously, swear that you are being serious and I'll respond.

[quote=MikeyRavioli]Lets leave the business owners and CEO's out of it for a minute.

Equity and balance or punishment?

Three guys work for the same company, all on the books, none of them is the owner.

One guy works in an entry level position in the whse and makes $26k a year. On that he is taxed about 19% and at the end of the year he gets a couple of hundred bucks refund.

The next guy is his department supervisor and makes $52k a year. On that he is taxed about 25% and at the end of the year pretty much breaks even.

The next guy is the Director that has responsibility for that dept among others and makes $110k a year. On that he is taxed about 32% and at the end of the year owes a few grand.

No matter how you view it - by total dollar amount, by percentage, - the more succesful you are the more you pay.

[/quote]

And that's the definition of a progressive income tax.

[quote=FuzzNJ]The US has the most millionaires, over 5,000,000 of them. We also have the most billionaires. Corporate profits have never been higher.

Yes, they are so severely punished, how will they ever survive.[/quote]

What you meant to say is they should be punished some more.