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So You Think "The Rich" Aren't Paying There Fair Share"

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posted on Jul, 30 2011 @ 08:02 PM
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so i hear that all the time on this board and i offer the something to ponder and i am going to use the lottery to either prove or disprove the urban myth.

everyone has heard of the powerball its projected jackpot tonite is $133,000 dollars

so if you take the cash option which is $69,800,000 that what you get right?

well not so fast after federal and state taxes you lose half that which leaves you with around $34,450,000 million dollars after taxes.

over $30 million in taxes before you ever see a dime.

so tell me agian who isnt paying their fair share?
edit on 30-7-2011 by neo96 because: (no reason given)



+51 more 
posted on Jul, 30 2011 @ 08:11 PM
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You neglect that with long term money one will have tax shelters in place which will reduce that tax down as close to zero as possible. The analogy of a capital infusion like winning the lottery is completely different than actually having money. Now couple that with the ability to pay a professional to reduce that tax load and most of the rich pay very little tax in general. If you thiink GE went without paying tax but the CEO did and at the rate you claim you are quite wrong and are part of the problem this country has with economics.
seed



posted on Jul, 30 2011 @ 08:11 PM
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I dunno if you are factoring in enough stuff for this to be a totally valid argument here. The way it works as well, is the people that make tons of money should turn around and try to help they're community, regardless. Right now we just have a system that exploits the poor as the rich get richer....and when you're rich, you usually have a warped sense of reality- not all- but most of'em.
edit on 30-7-2011 by JustinSee because: (no reason given)


+10 more 
posted on Jul, 30 2011 @ 08:12 PM
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Yes because its something that the PEOPLE can win and have to pay taxes on. Now when you are a big shot, you dont have to pay taxes. Like Exxon, GE, and many others.

The real rich dont have to pay their fair share and they NEED TO START for the sake of this country. They use the roads and everything else like we do except they dont want to pay anything.

Truly UN-American the wealthy in this country are.

And they fund the right wingers and tea baggers to do their bidding. Its obvious whom the tea baggers and right wingers represent...

And you dont like to hear the truth because all of your posts show you to be the biggest NEO-conservative right winger here.



posted on Jul, 30 2011 @ 08:15 PM
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finance.yahoo.com...

www.usatoday.com...

www.cbsnews.com...

money.cnn.com...

yep yep only all those evil rich people dont pay taxes.



posted on Jul, 30 2011 @ 08:18 PM
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Not so much the rich but these giant corporations that the rich operate. They use every tax exploit possible to pay about 1% of what they should pay. I couldn't do this as an individual, however, corporations seem to be a able to get away with this and many even brag about it.



posted on Jul, 30 2011 @ 08:18 PM
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reply to post by neo96
 


But let's say somebody makes 69.8 million in a business. The tax would not be the same because of all the deductions.

On the other hand, I can't blame rich folks for looking for every deductible possible. Why, after I win the powerball tonight, I am going to open up many businesses and use every deduction I can find so I can recoup some of the 34 million they took from my lottery winnings.



posted on Jul, 30 2011 @ 08:20 PM
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reply to post by jam321
 


a business gets taxed first doesnt matter what the business owner has to pay out in operating costs or else they have to be financially responsible for.


+8 more 
posted on Jul, 30 2011 @ 08:20 PM
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This guy is just trying to start an argument based on half truths and random "evidence". Some of it may be true, but its leaving alot of arguments out of the picture....I dunno...maybe the kid is rich or something.
(and is this crap just based off of lottery winners?)

All I know is rich people are generally crappy, they get greedy and lose sight of what its like to struggle, when they get power it tends to be abused....they LOVE the class system and feel if you couldn't make it, you aren't worth they're spit.
edit on 30-7-2011 by JustinSee because: (no reason given)



posted on Jul, 30 2011 @ 08:22 PM
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Capital gains, taxes. Look it up.



posted on Jul, 30 2011 @ 08:28 PM
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seems to me alot of people are forgetting:

the devaluation of the dollar(inflation) and the "Raise their taxes crowd"
edit on 30-7-2011 by neo96 because: (no reason given)


+6 more 
posted on Jul, 30 2011 @ 08:30 PM
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Originally posted by neo96
finance.yahoo.com...

www.usatoday.com...

www.cbsnews.com...

money.cnn.com...

yep yep only all those evil rich people dont pay taxes.


And all those folks who don't pay income tax make up for it in consumer taxes,utility taxes, gas taxes and the myriad fees for doing a damn thing now days. If you think ANYBODY get off without paying you are kidding yourself.
Your posts show you have no clue as to how money is really handled in large amounts and likely never will but will defend to the death those who continue to profit at your expense, amazing.
seed



posted on Jul, 30 2011 @ 08:32 PM
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reply to post by mustard seed
 


hardly we are talking federal and state income taxes here and people are paying 50% of their incomes towards those two.

plus every other stupid tax


+19 more 
posted on Jul, 30 2011 @ 08:33 PM
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I got accused of being a communist, for saying the rich should pay more taxes. By a brother mason of all people! (keep in mind that is one of the reasons politics is kept out of the lodge)

He never listened to the rest of what I was saying, he only heard that one sentence and assumed.
I was like wtf yo?

I was simply saying that while the rich can afford to pay higher taxes than the working class, because it does not impact their cost of living, as it does the working class. They can afford to live in luxury, well beyond their means.

While those who actually have to work, can not afford tax increases, because of the cost of living.

How the hell does that make me communist? Now if I said take from the rich and give it to the working class, that I would understand, but I never said jack about that. I simply said if any one should pay more taxes, it should be those who can afford to do so, because the rich are not going to have to decide between groceries or gas.

I lost all respect for the fella, he is clearly one of those types who only hears what they want to, and that is half the problem with society. People only hear what they want.



History only repeats, because we let it.



posted on Jul, 30 2011 @ 08:34 PM
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The rich do not pay nearly enough to 'justify' themselves. Yes, some select individuals donate heavily. Still, there is much to be paid.

Thinking otherwise is ignorant.



posted on Jul, 30 2011 @ 08:35 PM
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Originally posted by pplrnuts


And they fund the right wingers and tea baggers to do their bidding. Its obvious whom the tea baggers and right wingers represent...


That's just dumb. At its onset, the tea party movement was truly a grass roots movement.


Also, the Democrats take in PLENTY of money from corporations:
abcnews.go.com...


Feb. 8, 2010
During his State of the Union address, President Obama decried the potential for a crush of corporate money – even foreign money – to enter the American political system in the aftermath of the recent landmark Supreme Court ruling that alters who can contribute to candidates.

But tax forms recently made public show that Democrats have not been immune from collecting corporate funds to help its politicians gain an electoral edge. The Democratic Governors Association vacuumed up $11.6 million in contributions -- mostly from corporations and unions -- during the second half of 2009. For the year, DGA raised $23.1 million, a record.

The contributors included hefty checks from nearly every top lobbying firm in Washington, and from such multi-national giants as Exxon Mobil, which pitched in $50,000. The DGA even accepted funds from the American subsidiaries of companies with foreign ownership. More than $25,000, for instance, came from Diagio, the giant European liquor producer that makes Guiness, Smirnoff, Johnnie Walker and other major brands, which is based in London.




I'm so tired of the Republican Party and the Tea Party being portrayed as in the pockets of "the rich" and corporations, when the Democrat Party is JUST THE SAME.

BOTH PARTIES take lots of money from special interest groups and are beholden to "the rich" and corporations.



posted on Jul, 30 2011 @ 08:37 PM
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Originally posted by neo96
so i hear that all the time on this board and i offer the something to ponder and i am going to use the lottery to either prove or disprove the urban myth.

everyone has heard of the powerball its projected jackpot tonite is $133,000 dollars

so if you take the cash option which is $69,800,000 that what you get right?

well not so fast after federal and state taxes you lose half that which leaves you with around $34,450,000 million dollars after taxes.

over $30 million in taxes before you ever see a dime.

so tell me agian who isnt paying their fair share?
edit on 30-7-2011 by neo96 because: (no reason given)


Yeah, I'd be just fine with that. The only problem I have is giving it to the failed US Gov't. I don't want my money to become Blood Money. But "id have no problem at all spending my 30ish million on the poor and needy. Hell, I only need 2 million
the poor can have the rest. Homes and food for all of Africa!



posted on Jul, 30 2011 @ 08:37 PM
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Originally posted by neo96
so i hear that all the time on this board and i offer the something to ponder and i am going to use the lottery to either prove or disprove the urban myth.

everyone has heard of the powerball its projected jackpot tonite is $133,000 dollars

so if you take the cash option which is $69,800,000 that what you get right?

well not so fast after federal and state taxes you lose half that which leaves you with around $34,450,000 million dollars after taxes.

over $30 million in taxes before you ever see a dime.

so tell me agian who isnt paying their fair share?
edit on 30-7-2011 by neo96 because: (no reason given)


If you are given over 30 million dollars and cry because some of the money went to taxes then you are one greedy SOB. Oh and it's their not there.



posted on Jul, 30 2011 @ 08:42 PM
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reply to post by buster2010
 


and taxing the hell out of someone else instead of yourself is hell of alot greedier.



posted on Jul, 30 2011 @ 08:44 PM
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reply to post by neo96
 


The only people who come close to 50% tax are NOT the "rich" Your figures, your premise and your logic all fail completely using this analogy
seed




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