50% of Americans don't pay federal income tax

[Thunder22]

Choke on this:

Nearly half of US households escape fed income tax - Yahoo! Finance

And Obama is raising the rate on "the wealthy" again.

1 term. Don't be surprised.

[Naz24]

unbelievable. it is just crazy what's going on these days. Nevermind the increase on capital gains. Did you know that one of the reasons why the market went to crap in the late 80s is because of the capital gains tax? everybody took their money out right before the law took hold causing the stock market to collapse.


great move obama

[Quicksilver]

There are at least 10 other
presidents who only served one term.

Originally Posted by Thunder22

Choke on this:
And Obama is raising the rate on "the wealthy" again.
1 term. Don't be surprised.

[Thunder22]

Originally Posted by Quicksilver

There are at least 10 other
presidents who only served one term.

And your point is?

[Quicksilver]

Nothing has ever change in terms of leadership.
And nothing ever will no matter how long anyone
is in office. It's a self defeating rulership.

Point#2 Either their incomes were too low, or they qualified for
enough credits, deductions and exemptions to eliminate their liability.
That's according to projections by the Tax Policy Center, a Washington research organization.

That means everyone of us are doing it so I'm sure no rocks can be thrown.

OBTW Feel like you aint paying enough?
There's a line on the tax for to have more taken
out. Have at it.

Originally Posted by Thunder22

And your point is?

[Thunder22]

Originally Posted by Quicksilver

Nothing has ever change in terms of leadership.
And nothing ever will no matter how long anyone
is in office. It's a self defeating rulership.

Point#2 Either their incomes were too low, or they qualified for
enough credits, deductions and exemptions to eliminate their liability.
That's according to projections by the Tax Policy Center, a Washington research organization.

That means everyone of us are doing it so I'm sure no rocks can be thrown.

OBTW Feel like you aint paying enough?
There's a line on the tax for to have more taken
out. Have at it.

[Thunder22]

Originally Posted by Quicksilver

Nothing has ever change in terms of leadership.
And nothing ever will no matter how long anyone
is in office. It's a self defeating rulership.

Point#2 Either their incomes were too low, or they qualified for
enough credits, deductions and exemptions to eliminate their liability.
That's according to projections by the Tax Policy Center, a Washington research organization.

That means everyone of us are doing it so I'm sure no rocks can be thrown.

OBTW Feel like you aint paying enough?
There's a line on the tax for to have more taken
out. Have at it.

did you read the article?

Here's another one:

Obama taxing the wealthy even more. So don't you worry Barry, your namesake is already taking care of making me pay more so that more lower income people can suck at the teat of the federal government.

Upper-income people would lose tax cuts in Obama plan - USATODAY.com

[Thunder22]

Try this story on for size:
__________________________________________________ _____
This is a story that I heard on the radio about 10 men who had dinner and paid for it in the same manner as you would pay your income tax. A Professor of Economics from the University of Georgia created this to help explain the Income Tax and how cutting taxes works.

It seemed that 10 men decided to have a business lunch once a week. They always met in the same restaurant and the bill was always, $100.00, for all 10 men. If each man was responsible for his share of the bill that would be, $10.00, each. The men decided to divide the bill based upon their ability to pay. Using an agreed upon formula the following payment arraignment was worked out based upon income.

Men 1-4 who made the least amount of money paid nothing.

Man 5 paid $ 1.00

Man 6 paid $ 3.00

Man 7 paid $ 7.00

Man 8 paid $12.00

Man 9 paid $18.00

Man 10 paid $59.00

After several weeks the owner of the restaurant told the men that because they were such good customers he was reducing the bill by $20.00. Their delimina was how to divide up the, $20.00. If each person got the same amount then the first 4 men would be getting money back but they never paid anything for the dinners. After much discussion and no resolve the owner offered the following suggestion which they all agreed to.

Original Payment New Payment $ Amount Saved % Saved

Men 1-4 paid $ 0.00 $ 0.00 $0.00 0%

Man 5 paid $ 1.00 $ 0.00 $1.00 100%

Man 6 paid $ 3.00 $ 2.00 $1.00 33%

Man 7 paid $ 7.00 $ 5.00 $2.00 28%

Man 8 paid $12.00 $ 9.00 $3.00 25%

Man 9 paid $18.00 $14.00 $4.00 22%

Man 10 paid $59.00 $50.00 $9.00 15%

Once out side the men began to argue about the settlement. Man 5 said he only got, $1.00, while Man 10 received, $9.00. Men 1-4 were upset because the received nothing. They said that the cut only benefited the rich and the poor got nothing. They were upset so they beat up Man 10 and left him. The next week they met for lunch as usual except man 10 did not show up. When the new bill arrived the men discovered that between them they did not have enough money to pay even half of the bill.

In this story we see a simplified version of the Federal Income Tax. According to an article in the "New York Times" 80% of the taxes are paid by 20% of the people highest income people. Any time you have a tax cut the people who pay taxes are going to get the money. The next time you hear of a tax cut and the media tells you that the wealthy are getting all the money, remember they are paying the taxes.

[Quicksilver]

Sorry my friend. Mr. Obama is not my namesake.
If he's taxing you, then he's taxing me also.
The difference between you and I is I don't let it worry me... "Why"?
Let me repeat for the record...........

Nothing has ever change in terms of leadership.
And nothing ever will no matter how long anyone
is in office. It's a self defeating rulership.

Originally Posted by Thunder22

did you read the article?

Here's another one:

Obama taxing the wealthy even more. So don't you worry Barry, your namesake is already taking care of making me pay more so that more lower income people can suck at the teat of the federal government.

Upper-income people would lose tax cuts in Obama plan - USATODAY.com

[Thunder22]