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Originally posted by Subjective Truth
Is income tax the only tax we pay in America?
Originally posted by Southern Guardian
Originally posted by Subjective Truth
Is income tax the only tax we pay in America?
Well what taxes? Be specific? I hear too many fellas yapping on about things they care not to explain. Its exactly what walking fox stated earlier, its this rhetocal questioning with a motive. Would you care to explain where others prefer just to slip one liners over?
Originally posted by TheOneElectric
I'm glad a President has taken the time to actually try to talk to the American people in such an open setting. I am glad that President Obama took the time to carefully and fully explain the answer to the question that the woman asked of him. I wish more politicians and political leaders would take the time to care this much.
Originally posted by Subjective Truth
This issue is really simple he tried to spin the truth.
We have seen it from both sides a million times and he is a master.
Right vs. left is a game to control
Originally posted by Subjective Truth
You are the one playing the game
I answered your question
theban said...
As a corporate tax accountant I would have to agree with Troy Camplin. Ultimately, corporations are run for profit, after tax profit. period. To a corporation taxes are just another "expense". I can confidently say that the W-2 wage earner is taxed a the highest "effective rate"
Take a $100...
I have $100 to pay you for a days work.
Now, I have to pay employer FICA so I will offer you $92.89
($100/1.0765) because 92.89 + 7.65% FICA = $100 what I have to spend
So you get $92.89 but you have employee FICA taken out at 7.65% leaving you with $85.78 ($92.89 x 92.85%)
Next comes the Federal Income Tax and we'll just stay conservative with 15% tax bracket. Now remember it's 15% of you $92.89 (yes, they effectively tax you on your FICA tax) so now you have roughly $71.85
Now if you live in in a State that assess a state income tax (only 7 states have no income tax) like Oregon set at 9% (of $92.89 = $8.36) so now you have $63.49.
Now say you go an buy a carton of cigarettes with your money, that's what I just did yesterday and it was right around $60. The tax in Oregon is currently $1.18 pack or $11.80 per carton.
I have now received $51.69 benefit in exchange for my $100 worth of labor.
Any questions... send them to
[email protected]
3:34 AM
theban said...
Oh... I forgot to account for the other employer taxes that I would have to deduct first....
FUTA at 0.8% (Federal Unemployment) They extend benefits...
FICA (already included)
State Unenjoyment (usually 1%-2%)
Workers Comp "insurance" I've seen as high as 16% but ...
You get the idea...
eventually you end up paying, directly or indirectly, about 60%-70% in taxes.
Now you know why I chose to become a tax accountant.
Someone once said..
The rich don't get rich by making money.... the rich get rich by not paying taxes.
[email protected]
www.MyEnrolledAgent.com
Originally posted by Subjective Truth
Why not just face the simple truth that you have no idea what her intentions were. Your first post was about trolling. And then when cornered you say well look at her tone. You have to be kidding me right.
Do you really look at the world like this pretending to know what people think.
Your agenda has clouded you vision of things and it has made you resort to trolling to win a fight. You can not win with issues so why not make wild accusations and back them up with nothing.
You are what is wrong with ATS. I am sorry but you do not believe in arguing the issues you only want to inflict pain on the other side.
The point is he will not address simple question.
He always tries to spin everything so you have no idea were he is coming from so that later on he can say that is not what he meant. This is called spinning the truth.
I doubt he even believes what he says half the time.
When will you guys see he is exactly the same as Bush. He loves war and taxes and could care less about the middle class or unemployment.
Benefits run out on the 5th why is he not talking about this? I would say it is the biggest issues right now other than the economy.
Also flag for the OP you sure did bring out the trolls with this one.
[edit on 4-4-2010 by Subjective Truth]
Originally posted by Subjective Truth
I will make it simple for you please post my statement were I show myself as rightwing.
Originally posted by Subjective Truth
And I am not walking away from the argument