Thread: Federal taxes lowest since 1950

especially for retirees but also for the rest of us saving for short-term needs 1-5 years outside of retirement accounts...no wonder Birch distrusts bonds so much-but even he has a wad of cd's stored for that place in NC.

http://www.financialsense.com/contri...lation-dilemma

Effective tax rate for the Median Taxpayer in the USA,
compared to the effective tax rate for the richest 400 Americans in the USA, since 1955:




The campaign to INCREASE MILLIONAIRE TAX RATES:
http://wealthforcommongood.org/campa...ire-tax-rates/

Yet another plot to stiffle success and re-distrubute money to those that don't EARN it.

So, how about this:

IRS Code:
Your Earnings(over $30k) X 0.20 (AKA 20%) = Your Taxes
No Deductions, no exceptions, for no one...

Thoughts?

P.S. oh yeah, don't we have the highest Corporate Taxes in the world? Any we wonder why businesses go somewhere else...

Originally Posted by RealMoneyIssues

Yet another plot to stiffle success and re-distrubute money to those that don't EARN it.

So, how about this:

IRS Code:
Your Earnings(over $30k) X 0.20 (AKA 20%) = Your Taxes
No Deductions, no exceptions, for no one...

Thoughts?

P.S. oh yeah, don't we have the highest Corporate Taxes in the world? Any we wonder why businesses go somewhere else...

My friend, seems you are just on the wrong side of the dollar, that's all...
(I highlighted our pal Leslie using one of her favorite colors... (jaded) green)

2007- http://www.tvguide.com/news/tv-star-salary-40637.aspx

2010- eh... +/- a few mill.... yawn
http://www.tvguide.com/News/Top-TV-Earners-1021717.aspx

NEWS ANCHORS (salary per year)
Katie Couric, CBS Evening News $15 million
Matt Lauer, NBC Today coanchor $12 million
Diane Sawyer $12 million
Meredith Vieira, NBC Today coanchor $10 million
Brian Williams $8 million
Anderson Cooper $5 million
Keith Olbermann, MSNBC anchor $4 million
Harry Smith, CBS The Early Show coanchor $3 million
Ernie Anastos, New York City local news anchor $2 million
Lesley Stahl, CBS 60 Minutes correspondent $1.8 million
Sr producer for network newsmagazine $250,000-$400,000
Average local TV news anchor $75,500
Broadcast news associate entry level $30,000

Originally Posted by crws

My friend, seems you are just on the wrong side of the dollar, that's all...
(I highlighted our pal Leslie using one of her favorite colors... (jaded) green)

2007- http://www.tvguide.com/news/tv-star-salary-40637.aspx

2010- eh... +/- a few mill.... yawn
http://www.tvguide.com/News/Top-TV-Earners-1021717.aspx

NEWS ANCHORS (salary per year)
Katie Couric, CBS Evening News $15 million
Matt Lauer, NBC Today coanchor $12 million
Diane Sawyer $12 million
Meredith Vieira, NBC Today coanchor $10 million
Brian Williams $8 million
Anderson Cooper $5 million
Keith Olbermann, MSNBC anchor $4 million
Harry Smith, CBS The Early Show coanchor $3 million
Ernie Anastos, New York City local news anchor $2 million
Lesley Stahl, CBS 60 Minutes correspondent $1.8 million
Sr producer for network newsmagazine $250,000-$400,000
Average local TV news anchor $75,500
Broadcast news associate entry level $30,000

Not sure what all of that had to do with the original thought, but I am not the brightest bulb in the fixture...

Still think if we all paid our "fair" share then all taxes would be "fair"... Not sure on the corporate side, except we're the highest and that can't be good for business (at least if we want to keep them here).

Although a sales tax (and no income tax) is a thought too...

Coincidence maybe...
your tag line about corporate taxes was a Leslie Stahl 60 minutes story this weekend.
See what you think of this, all politics aside, merely from a economic perspective-
Many good clips.

http://www.cbsnews.com/8301-504803_1...-10391709.html

The full report here, as linked within above...
http://www.cbsnews.com/video/watch/?id=7009217n

The Washington 1098 was voted down, btw.

I will check out the clips later at my leisure.

Thanks for the info !!

Originally Posted by RealMoneyIssues

P.S. oh yeah, don't we have the highest Corporate Taxes in the world?

No.

the lowest rates, of course, are Iceland and Greece. Both fine countries that have wonderful balanced budgets, wouldn't you say?


The U.S. is not the highest at all- it's in the middle of the pack, and it's lower than most as a percentage of GDP.

Attachment 10844

And this one:

Attachment 10845

Source: Congressional Budget Office.

http://www.cbo.gov/ftpdocs/69xx/doc6...rporateTax.pdf


Once again you're caught up in a falsity perpetuated by the very, very rich.

No, our corporate taxes are NOT the highest in the world.

That's why businesses go to Ireland to pay taxes..

Originally Posted by James48843

Once again you're caught up in a falsity perpetuated by the very, very rich.

Any you are using charts from 2002 and a CBO report from 2005.

Got anything newer?

Originally Posted by James48843

You can't say taxes are higher. I WISH taxes were higher for the richest- so that we could balance the budget. We need to balance the budget. But as you can see in that $1 million a year income example, taxes are lower today by a long way than they've ever been since before the great depression.

I missed this comment from you in February... I wish I could go find it right now, but I remember reading an article that stated that even if you taxed 100% of the rich's income, you would still not be able to balance the budget.

We

cannot

tax

our

way

out

of

this

mess...


CUTTING SPENDING is the only way...

(BTW, if you compared this to your own budget, we wouldn't be having this argument.)

Originally Posted by peterson82

That's why businesses go to Ireland to pay taxes..

BINGO