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Author Topic: Buffet and Taxes  (Read 1449 times)

Offline SaburoS

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Buffet and Taxes
« Reply #30 on: June 29, 2007, 08:25:47 PM »
Quote
Originally posted by Yeager
This conservative believes everyone should pay an equal percent of what they make to the federal system.  Whether its ten thousand dollars or ten billion dollars.  Everyone should pay the same tax.

Same goes for local county and state taxes.  And once you own your property you should no longer be taxed on its value.


Agreed about the flat tax rate.

So the land owner should be able to take up some valuable real estate rent free?
Or are you talking about paying taxes based on the original purchase price?
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Offline SaburoS

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Buffet and Taxes
« Reply #31 on: June 29, 2007, 08:56:06 PM »
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Originally posted by bj229r
Taxes are income based. If you make $1,000,000 but only NEED $50,000 to live on, your goal is to use the vast U.S. tax code and figger out how to shield the rest.

An adult making $10,000 a year isn't going to PAY any taxes, and is probably the recipient of welfare, food stamps..at the very least the Earned Income Tax Credit. The endless litany of 'tax breaks for the rich' for the last 20 years has rewarded us with a system where half the population contributes next to nothing for the tax base, yet has the voting ability to steal money from the  afore-mentioned evil rich people :mad:


The tax code is made with the wealthy in mind (the middle class is not excluded here, just not the same benefit). They are the ones funding congress with soft money donations. Members of Congress make the laws (IIRC). Tax shelters really benefit the wealthy, not the middle class (not to say that there are no shelters for the middle class, just that they are skewed for the wealthy. The middle class ends up getting the short end of the stick as they're the ones usually paying the higher percentage of taxes.
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Men fear thought as they fear nothing else on earth -- more than ruin -- more even than death.... Thought is subversive and revolutionary, destructive and terrible, thought is merciless to privilege, established institutions, and comfortable habit. ... Bertrand Russell

Offline bj229r

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Buffet and Taxes
« Reply #32 on: June 29, 2007, 09:23:45 PM »
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So the land owner should be able to take up some valuable real estate rent free?


What COUNTRY do you come from? In the US, we call that OWNERship:O
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Offline bj229r

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Buffet and Taxes
« Reply #33 on: June 29, 2007, 09:27:02 PM »
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Tax shelters really benefit the wealthy, not the middle class (not to say that there are no shelters for the middle class, just that they are skewed for the wealthy. The middle class ends up getting the short end of the stick as they're the ones usually paying the higher percentage of taxes.


Tax shelters are invariably designed to FORCE you to do something with said money in order to 'shield' it, which is the govt's way to fund stuff they don't want to direct tax dollars to. There are tax shelters for anyone with money to hide---middle class folks (like me) typically haven't an abundant supply of such money
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Offline Elfie

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Buffet and Taxes
« Reply #34 on: June 30, 2007, 12:17:11 AM »
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Originally posted by SaburoS
So let me get this straight....
Someone making $50,000.00 paying $20,000.00 in taxes is as fair as one making $1,000,000.00 paying the same $20,000.00 in taxes?

LOL how's someone making $10,000.00 a year going to pay the same $20,000.00 in taxes?

That's fair, right?


If the top 10% of income earners are paying 65% of the total funds that the feds receive in income tax revenue, how is that fair?

The rich pay far more dollars than I ever will.
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Offline Elfie

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Buffet and Taxes
« Reply #35 on: June 30, 2007, 12:24:56 AM »
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Originally posted by SaburoS
Agreed about the flat tax rate.

So the land owner should be able to take up some valuable real estate rent free?
Or are you talking about paying taxes based on the original purchase price?


I think he is talking about yearly property taxes.

Your second statement makes it sound like you are just renting property that you own. Eh? Maybe you could clarify that one?
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Offline SaburoS

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Buffet and Taxes
« Reply #36 on: June 30, 2007, 12:56:30 AM »
Quote
Originally posted by Elfie
If the top 10% of income earners are paying 65% of the total funds that the feds receive in income tax revenue, how is that fair?

The rich pay far more dollars than I ever will.


It's all about percentage.
If they make 75% of the money, but only paying 65%, they are paying less than you are.
If they are making 55% of the money but paying 65% of the total funds, they are paying more than you are.
The rich are paying less than they should if we are talking about percentages.
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Offline SaburoS

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Buffet and Taxes
« Reply #37 on: June 30, 2007, 01:00:42 AM »
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Originally posted by Elfie
I think he is talking about yearly property taxes.

Your second statement makes it sound like you are just renting property that you own. Eh? Maybe you could clarify that one?


I thought so to but his statement was a bit vague for me.
I just wanted to put it in perspective if he was talking about a one time tax payment at purchase. Kind of like letting someone move into your house making only one rent payment, thinking they were entitled to the place just because they made that one initial payment.
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Men fear thought as they fear nothing else on earth -- more than ruin -- more even than death.... Thought is subversive and revolutionary, destructive and terrible, thought is merciless to privilege, established institutions, and comfortable habit. ... Bertrand Russell

Offline SaburoS

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Buffet and Taxes
« Reply #38 on: June 30, 2007, 01:04:21 AM »
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Originally posted by bj229r
What COUNTRY do you come from? In the US, we call that OWNERship:O


Same as you but in high population, high expense state like California, the state charges property tax on the property you own. I look at it similar to rent.
I know some states charge little to no property tax, is Virginia one of them?
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Men fear thought as they fear nothing else on earth -- more than ruin -- more even than death.... Thought is subversive and revolutionary, destructive and terrible, thought is merciless to privilege, established institutions, and comfortable habit. ... Bertrand Russell

Offline Elfie

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Buffet and Taxes
« Reply #39 on: June 30, 2007, 01:38:20 AM »
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The rich are paying less than they should if we are talking about percentages.


I think that is what gets folks all outraged and ready to grab the torches and pitchforks.

When you look at the actual dollar amounts that the feds take in, then look at which groups of folks are paying what, the rich put more dollars into the pot than the rest of us. A lot more in fact.

The rich are also the ones with the means to invest money into starting businesses etc which is good for the economy.

The heavier you tax folks, the more they seem to cheat or fudge on the numbers so they don't have to pay as much. Sometimes lowering taxes can actually increase revenue because folks don't cheat as much then.
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Corkyjr on country jumping:
In the end you should be thankful for those players like us who switch to try and help keep things even because our willingness to do so, helps a more selfish, I want it my way player, get to fly his latewar uber ride.

Offline SaburoS

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Buffet and Taxes
« Reply #40 on: June 30, 2007, 01:46:33 AM »
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Originally posted by Elfie
Snip~
The rich are also the ones with the means to invest money into starting businesses etc which is good for the economy.


Not just the rich, but we already have tax breaks for those willing to start up their own businesses. (as it should be)
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Men fear thought as they fear nothing else on earth -- more than ruin -- more even than death.... Thought is subversive and revolutionary, destructive and terrible, thought is merciless to privilege, established institutions, and comfortable habit. ... Bertrand Russell

Offline SaburoS

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Buffet and Taxes
« Reply #41 on: June 30, 2007, 01:50:34 AM »
BTW, what the rich don't end up paying we, the middle class end up taking the brunt for.
I pay 32% (roughly) in combined State and Federal taxes.
The rich pay what percent?

How much do you think the wealthy should pay percentage wise?
How about the middle class?
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Men fear thought as they fear nothing else on earth -- more than ruin -- more even than death.... Thought is subversive and revolutionary, destructive and terrible, thought is merciless to privilege, established institutions, and comfortable habit. ... Bertrand Russell

Offline Elfie

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Buffet and Taxes
« Reply #42 on: June 30, 2007, 01:51:54 AM »
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Originally posted by SaburoS
Not just the rich, but we already have tax breaks for those willing to start up their own businesses. (as it should be)


The rich are the ones with the capital to invest in those sorts of things. A good portion of American citizens just don't have the financing available to do things like that.

I do agree that there should be tax breaks for those willing to start up businesses, it ultimately brings in more tax revenue.
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Corkyjr on country jumping:
In the end you should be thankful for those players like us who switch to try and help keep things even because our willingness to do so, helps a more selfish, I want it my way player, get to fly his latewar uber ride.

Offline SaburoS

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Buffet and Taxes
« Reply #43 on: June 30, 2007, 02:04:45 AM »
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Originally posted by Elfie
The rich are the ones with the capital to invest in those sorts of things. A good portion of American citizens just don't have the financing available to do things like that.

I do agree that there should be tax breaks for those willing to start up businesses, it ultimately brings in more tax revenue.


Well heck, lets just not let the upper class pay any taxes at all then!
I guess you won't mind our middle income being taxed at 60-70%?
There's a tax burden that has to be filled. Who should pay the taxes?
The middle class alone?

I'll ask again...
What percentage rate would you find acceptable for:
1) The upper class?
2) The middle class?
Keep the figures reasonable for this country to function as it is. (just for starts)
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Men fear thought as they fear nothing else on earth -- more than ruin -- more even than death.... Thought is subversive and revolutionary, destructive and terrible, thought is merciless to privilege, established institutions, and comfortable habit. ... Bertrand Russell

Offline Elfie

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Buffet and Taxes
« Reply #44 on: June 30, 2007, 02:33:20 AM »
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Well heck, lets just not let the upper class pay any taxes at all then!


Never implied that.

Quote
I guess you won't mind our middle income being taxed at 60-70%?


Or that.....

Quote
There's a tax burden that has to be filled. Who should pay the taxes?


The rich, (top 10% earners) already pay 65% of that burden. The top 25% already carry 83% of that burden. Just how much more of that burden should they have to carry? Is this fair? Heck no it isn't fair, but then life isn't fair.

As far as your questions go, the first time we were posting at nearly the same time so I didn't see them.

I don't really care what the percentages are because those scumbags in D.C. NEVER ask me when it's time for a tax raise or a break. If they think they need a dime, they just reach in my pocket and take it. To top that, they take my dime and then waste it.

Don't start on the *you voted for them* garbage because I didn't vote for any of those scumbags. I haven't voted since the election where Bush Sr. won. I refuse to vote for any of these scumbags.
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Corkyjr on country jumping:
In the end you should be thankful for those players like us who switch to try and help keep things even because our willingness to do so, helps a more selfish, I want it my way player, get to fly his latewar uber ride.
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