Obama Plans to Name Task Force to Overhaul Tax Code

[HAL 9000 96]

Right cause rich folks making 1 Billion USD per year are so victimized by having their post-tax income reduced by pennies on the dollar. Poor people.

exaggerate much?

Funny... that seems exactly what you and LS are doing. (not unusual)

poor, poor rich people. Victims of liberal plots to make them less filthy rich than just filthy rich.

[Peikko 1,575]

You guys can learn whatever lessons you like. My lesson teaches me that 62% of anything more than $250,000, plus the 65% of $250,000 is way better than 90% of $10,000. Incredible, but true.

Robbery? No, a fair contribution to the society that we all live in. Conservatives as well as libruls, and all those who are not affiliated to any political party ideology.

Edited March 25, 2009 by Madame Cleo

[Ban Hammer 14,149]

Right cause rich folks making 1 Billion USD per year are so victimized by having their post-tax income reduced by pennies on the dollar. Poor people.

exaggerate much?

Funny... that seems exactly what you and LS are doing. (not unusual)

poor, poor rich people. Victims of liberal plots to make them less filthy rich than just filthy rich.

yawn. just remember this as the tax rate catches up to you. i never trust a politician to make an imaginary line and say they are only gonna tax people above this line.

[Peikko 1,575]

Except that is just what the tax codes do do. The lines are drawn, we all know where they lie. Only the figure above each line is taxed at the higher rate. I guess most people don't really understand taxes.

[Peikko 1,575]

Here's how it works. Everyone has a tax free portion, everyone, including the rich. So, until you earn above that portion, you are not taxed. You then go to the lowest tax code. The portion of your income within that tax bracket is taxed at that rate and so on.

So, if you earn say $50,000

No tax portion $5,000

Lowest Tax portion $10,000 @ 10%

Next tax portion $35,000 @ 25%

Only as you breach each tax bracket does the portion above that line get taxed at the higher rate. The lower income earners simply don't reach the higher tax brackets, but that doesn't mean they are not fairly taxed.

[Peikko 1,575]

That's just an example - not sure the accurate figures in the US, used to know the UK ones though.

[Ban Hammer 14,149]

more yawn as someone tries to justify their position.

[Peikko 1,575]

Tries to? No, I just understand it Charles. Good job some people do, eh?

[Ban Hammer 14,149]

too bad you can't understand what i'm saying though - obviously it must be over your head.

[HAL 9000 96]

that's right Charles. Just don't yawn yourself to sleep as you FAIL once again.

[Peikko 1,575]

You are not saying anything, other than you don't know why you should pay taxes.

Woe is you Charles. Some people accept their societal role, and pay their taxes without whining.

[I AM NOT THAT GUY 5,715]

The administration still has not dropped the Cap and Trade proposal, which will amount to a utility tax on all American households, rich and poor.

[I'm Gone 60]

Reform or Overhaul = You pay more taxes. Remember when Reagan reformed the tax code and a lot of the deductions disappeared.

[Ban Hammer 14,149]

that's right Charles. Just don't yawn yourself to sleep as you FAIL once again.

the only fail here is how some don't mind if others are taxed when it does not include them

You are not saying anything, other than you don't know why you should pay taxes.

Woe is you Charles. Some people accept their societal role, and pay their taxes without whining.

more yawn. keep going, you might cure my insomnia.

[Peikko 1,575]

Ears and eyes closed Charles. What do they say? See no evil, hear no evil? Yeah, that's you all right

Edited March 25, 2009 by Madame Cleo