Do tax cuts for the rich hurt you personally?

[hipsterdufus]

You must have already if you are making a statement of fact, so let's see the supporting evidence.

Not at this point.

How do rich people not pay taxes? For instance when they fill up their yatchs how do they not pay the federal fuel tax?

See previous post here:
http://www.debatepolitics.com/showpost.php?p=205618&postcount=10
and here:
http://www.debatepolitics.com/showpost.php?p=205725&postcount=34

 

[Stinger]

See previous post here:
http://www.debatepolitics.com/showpost.php?p=205618&postcount=10
and here:
http://www.debatepolitics.com/showpost.php?p=205725&postcount=34

I read the first and it deals specifically with INCOME taxes, you said rich people get away with paying TAXES, all taxes.

So how does the rich person not pay tax when he fills up his fancy car? Or taxes on the phones lines?

 

[Befuddled_Stoner]

And if the rich person has $100,000 then he will spend $50,000 and if the poor person has $100 he will spend $9.

I think you meant to say 90% of $100, which is =$90

But then the rich person has also invested $30,000 in capital equipment and then employeed the poor person and combined capital and labor to create wealth which is divided into income for the poor person and a return on the investment of the rich person along with the taxes that are paid due to the economic activity.

So in your example, give that $100,000 to 1000 poor people in $100 increments, and they’ll spend $90,000 of it and loose the rest in their couches. Give that $100,000 to a single rich guy, and he’ll spend $80,000 of it and convert the rest into gold coins to fill up his swimming pool. Sounds like the economy would be better off if we gave that money to the poor people.

That rich person may invest $30,000 in capital equipment, which then trickles down to help out poor people, but he won’t spend that money nearly as fast as the poor people would. He’s likely to take weeks or months to carefully consider exactly where he wants to invest that money. The money given to the poor people wends its way through the economy faster because they’re more likely to drop it on everyday purchases.

:rofl you think the Great Depression was caused by an aristocracy?

I think that the Great Depression was caused, in part, because a great deal of wealth was caught up in the upper class. There wasn’t enough economic grease in the lower levels of the economy to cushion the friction caused by the stock market crash.
Aristocracy is a symptom of unhealthy concentrations of wealth amongst too few people.

 

[hipsterdufus]

I read the first and it deals specifically with INCOME taxes, you said rich people get away with paying TAXES, all taxes.

So how does the rich person not pay tax when he fills up his fancy car? Or taxes on the phones lines?

You're right, I should have said the number of rich people paying little or no income tax has grown significantly in the past five years.

 

[ptsdkid]

You're right, I should have said the number of rich people paying little or no income tax has grown significantly in the past five years.

**Poor people pay no taxes, and the number of middle class people paying taxes is either none or very few. Guess that leaves the rich to take up the slack of the slackers in paying the greater amount in taxes.

 

[M14 Shooter]

You're right, I should have said the number of rich people paying little or no income tax has grown significantly in the past five years.

I think we had this conversation.

According to your information it went from 0.18% to 0.22% - so while that its +22% increase, the number of rich peple paying no income tax is very very small.

And, I do believe I mentioned that I didnlt think you could show that this was because of the Bush tax cut because when you;re 'rich', yout tax situation can vary wildly from year to year to year because of investments, purchases, donations, etc.

Further... if 0.18% of the rich were paying no income tax before the Bush tax cuts, it sounds like you shoul dbe arguing that there was a problem with taxes --before-- Bush came into office.

 

[Stinger]

You're right, I should have said the number of rich people paying little or no income tax has grown significantly in the past five years.

OK the ones that don't pay income tax are subject to the AMT, but again why don't they pay income tax if they have all this income?

And what percentage of all income taxes are paid by the top 10% in income earners?

 

[Stinger]

Sorry you're citing responses to a different post than the one you are actually responding to. Please respond in thread order so that I can find the message you are responding to and review your contention. I don't have time to search threads looking for the message you are actually responding to.

 

[Navy Pride]

You're right, I should have said the number of rich people paying little or no income tax has grown significantly in the past five years.

I don't know if that is so but the number of rich people could be that with this great economy more people are getting rich.......