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Qtec
09-20-2011, 04:55 AM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Last year my federal tax bill -- the income tax I paid, as well as payroll taxes paid by me and on my behalf -- was $6,938,744. That sounds like a lot of money. But what I paid was only<span style='font-size: 14pt'> 17.4 percent of my taxable income</span> -- and that's actually a lower percentage than was paid by any of the other 20 people in our office. <span style='font-size: 14pt'>Their tax burdens ranged from 33 percent to 41 percent and averaged 36 percent. </span></div></div>

Right-Wing Media Defend The Rich Unless The Rich Person Is Named Warren Buffett (http://mediamatters.org/research/201109200002)

Q

LWW
09-20-2011, 05:09 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Qtec</div><div class="ubbcode-body"> <div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Last year my federal tax bill -- the income tax I paid, as well as payroll taxes paid by me and on my behalf -- was $6,938,744. That sounds like a lot of money. But what I paid was only<span style='font-size: 14pt'> 17.4 percent of my taxable income</span> -- and that's actually a lower percentage than was paid by any of the other 20 people in our office. <span style='font-size: 14pt'>Their tax burdens ranged from 33 percent to 41 percent and averaged 36 percent. </span></div></div>

Right-Wing Media Defend The Rich Unless The Rich Person Is Named Warren Buffett (http://mediamatters.org/research/201109200002)

Q </div></div>

That's because the current system is rigged for folks like Buffet.

Obama's plan doesn't change that.

If you want it changed, endorse the FAIRTAX.

Gayle in MD
09-20-2011, 06:22 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Qtec</div><div class="ubbcode-body"> <div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Last year my federal tax bill -- the income tax I paid, as well as payroll taxes paid by me and on my behalf -- was $6,938,744. That sounds like a lot of money. But what I paid was only<span style='font-size: 14pt'> 17.4 percent of my taxable income</span> -- and that's actually a lower percentage than was paid by any of the other 20 people in our office. <span style='font-size: 14pt'>Their tax burdens ranged from 33 percent to 41 percent and averaged 36 percent. </span></div></div>

Right-Wing Media Defend The Rich Unless The Rich Person Is Named Warren Buffett (http://mediamatters.org/research/201109200002)

Q </div></div>


<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Does It Really Cost This Tea Party Congressman $200,000 to Feed His Family?
By Bruce Watson
Posted 7:00PM 09/19/11 Taxes

What do Tea Party congressman feed their families? On Monday, Rep. John Fleming (R-La.), a member of Michele Bachmann's Tea Party Caucus met with MSNBC's Chris Jansing to discuss President Obama's proposed tax increases on the wealthy. Using his own income as an example, Fleming gave an interesting glimpse into the world of Tea Party economic theory ... and economic justifications.

Unlike many of his fellow legislators, Fleming's taxes would rise under the Obama plan. This is because, in addition to his $174,000 congressional salary -- which is far below the minimum threshold for Obama's tax increases -- Fleming also pulls in an impressive $6.3 million from his investments, including several Subway franchise restaurants and UPS stores.

However, Fleming was quick to explain that he only brought home a small portion of his $6.3 million gross income. As he told Jansing, "That's before you pay 500 employees, you pay rent, you pay equipment and food. The actual net income of that was only a mere fraction of that amount." In fact, according to Fleming, he made a comparatively paltry $600,000.

While decidedly less than $6.3 million, Fleming's $600,000 is still nothing to sneeze at: Given the $49,455 that the median American household brought home in 2010, the congressman's yearly income equaled the take-home pay of more than a dozen average families. But, as Fleming noted, even that princely sum was not all it appeared. In order to create more jobs -- and, not coincidentally, expand his business -- Rep. Fleming needed to invest more money: "By the time I feed my family, I have maybe $400,000 to invest in new locations, upgrade my locations, buy more equipment ..."



So, let's see: $600,000 minus $400,000 for reinvestment leaves $200,000 that Fleming has budgeted to "feed his family." In other words, the congressman's yearly food budget is more than the total take home salary for four average families.

And how many people does Fleming's $200,000 feed? Well, the congressman and his wife Cindy have four grown children. Assuming that the pair still has all of their children living under the same roof, the USDA's food allotment under its "Moderate-cost" plan would total $378.90 per week, or $19,702 per year. So, Congressman Fleming is budgeting more than 10 times the average yearly food cost for a family his size.

When Jansing pointed out the vast gap between the average American salary and Fleming's, the congressman responded: "Class warfare has never created a job."

Apparently, however, it puts a lot of food on the table.




See full article from DailyFinance: http://srph.it/nV05nl
</div></div>

This poor, poor baby, lol....

Funny how a pig never knows what a pig he is, even when he's snorting like a pig.

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Sev
09-20-2011, 06:39 AM
Funny how people cant differentiate between a personal income tax and a capital gains tax on investment.

Your comparing apples and oranges.

LWW
09-20-2011, 03:43 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Qtec</div><div class="ubbcode-body"> <div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Last year my federal tax bill -- the income tax I paid, as well as payroll taxes paid by me and on my behalf -- was $6,938,744. That sounds like a lot of money. But what I paid was only<span style='font-size: 14pt'> 17.4 percent of my taxable income</span> -- and that's actually a lower percentage than was paid by any of the other 20 people in our office. <span style='font-size: 14pt'>Their tax burdens ranged from 33 percent to 41 percent and averaged 36 percent. </span></div></div>

Right-Wing Media Defend The Rich Unless The Rich Person Is Named Warren Buffett (http://mediamatters.org/research/201109200002)

Q </div></div>

http://www.bsckids.com/wp-content/uploads/2011/01/ashton-kutcher-punkd.jpg

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">“It’s hard to argue against that. Warren Buffett’s secretary shouldn’t pay a higher tax rate than Warren Buffett. There is no justification for it,’’ Obama said.
Buffett actually was taxed twice on his investment income.

First, Buffett had to make the money he invested. Those earnings were taxed as corporate income, at about a 35-percent rate.

Then, Uncle Sam took another cut when Buffett invested the money and earned a profit. That’s when Buffett paid the 15 percent capital-gains tax rate.

All told, after combining corporate taxes and capital gains taxes, Buffett forked over about 45 percent of his earnings.

Read more: http://www.nypost.com/p/news/national/buffett_math_is_bit_off_7mGzoYiwPfsJcnWaIoptFJ#ixz z1YX0vLXFa </div></div>

Soflasnapper
09-23-2011, 05:47 PM
No, you were punked if you believed this ridiculous claim from... (who is this guy again?).

ASK YOUR ACCOUNTANT, or do the math yourself, if you are able to.

There was no double taxation on the earnings of the investment.

It's a bizarre and incompetent claim. <s>How did you fall for it?</s> Never mind, I KNOW how you fell for it.

GOOD GRIEF!