America: Freedom to Fascism

[Broompilot]

I disagree with you Lane,

Sure the rich do pay the majority of the taxes dollar wise those making more than 100K but they also get the largest deductions such as up to 30K into tax defereed accounts (to large of loop hole) 10 or 12 gift tax without paying any income tax on that amount. They can also purcahse second homes, using the loop hole to sell it and avoid all taxes. It is the loop holes I would love to see stop!

Dumb that I would ever think that the rich do not invest back into the economy, as so do I.

But I have a hard enough time maxing my IRA, my taxes are probably gona be 4 times more than I will put into my IRA. Its unporotunatiate % wise, thus a flat tax would be more fare all the way accross the board and I would no longer have a gripe about loop holes for the rich, or the middle class actually supporting this country and even the poor contrubuting something.

PS by the way the rich sure do seem to sock it to the dissadvantage in fees, higher intrest rates, etc.... thru borrowing. You ask How simple most rich have large stock portfolios, and mutual funds that invest into the banking system that preys on those who can least afford it. (Look into your mailbox and see how many credit card offers are stuffed into it). Thus banking stocks keep rising profiting those large portfolios at the cost of all of society.

Hey Tcall see I do have some Liberal thoughts.....

[greg334]

Broom

you said;'Hey Tcall see I do have some Liberal thoughts.....'

Don't fall for the liberal trap of us against them thing that they like to use when talking about taxes.

I don't really care what Bill Gates pays in income tax becuase it don't matter to me or my family. What matters is what I pay now and if I ever achieve that goal of having wealth equal to Bill Gate's interest of his interest of his Dog's investments, I would hope I would pay as much taxes as the law allows me to do.

I say support the Fair Tax, go to http://www.fairtax.org and learn about it before you say it won't work.

[lanier1]

Predatory lending practices is a different subject altogether. As for my mail box being crammed full of offers from credit card companies that is another case where I don't expect anyone to look out for me but myself. If I am stupid enough to max out every credit card I have and file bankruptcy when I can't make the payments there is noone to blame but myself. Frankly I don't want the government meddling in any part of my life that isn't absolutely necessary.

According to the Treasury Dept. the top 1% of income earners (the filthy rich) earn 16.5% of total income and pay 33.7% of all taxes collected. Bump it up to the top 5% of income earners and they earn 31% of all income and pay 54.1% of all taxes. The bottom 50% of income earners earn 13.9% of all income and only pay 3.6% of the taxes collected.

I too am a proponent of the fair tax as Greg suggests.