20 Tax Facts That Will Blow Your Mind
- Posted on April 18, 2011 at 2:05pm by
Jonathon M. Seidl
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In honor of tax day, Business Insider put together a slide show on the 20 tax facts that will “make your head explode.” Here’s a sample:
1. The IRS has more employees than there are people in Flint, Michigan (106K vs 102K).
2. Americans spend $28 billion and 8 billion hours each year doing their taxes.
3. The number of pages in the tax code has increased 16,775% in the past century.
4. You could fill Dallas with the number of accountants Americans hire to help with taxes each year (over a million).
You can read the rest here.
In related news, the Wall Street Journal did a little thought experiment today, looking at what would happen if Obama’s increase on “rich” taxpayers went to, say, 100 percent of their income. Guess what? It would barely dent the national debt:
Consider the Internal Revenue Service’s income tax statistics for 2008, the latest year for which data are available. The top 1% of taxpayers—those with salaries, dividends and capital gains roughly above about $380,000—paid 38% of taxes. But assume that tax policy confiscated all the taxable income of all the “millionaires and billionaires” Mr. Obama singled out. That yields merely about $938 billion, which is sand on the beach amid the $4 trillion White House budget, a $1.65 trillion deficit, and spending at 25% as a share of the economy, a post-World War II record.
Say we take it up to the top 10%, or everyone with income over $114,000, including joint filers. That’s five times Mr. Obama’s 2% promise. The IRS data are broken down at $100,000, yet taxing all income above that level throws up only $3.4 trillion. And remember, the top 10% already pay 69% of all total income taxes, while the top 5% pay more than all of the other 95%.
We recognize that 2008 was a bad year for the economy and thus for tax receipts, as payments by the rich fell along with their income. So let’s perform the same exercise in 2005, a boom year and among the best ever for federal revenue. (Ahem, 2005 comes after the Bush tax cuts that Mr. Obama holds responsible for all the world’s problems.)
In 2005 the top 5% earned over $145,000. If you took all the income of people over $200,000, it would yield about $1.89 trillion, enough revenue to cover the 2012 bill for Medicare, Medicaid and Social Security—but not the same bill in 2016, as the costs of those entitlements are expected to grow rapidly. The rich, in short, aren’t nearly rich enough to finance Mr. Obama’s entitlement state ambitions—even before his health-care plan kicks in.
Conclusion? The middle class will end up paying for tax increases. Literally.
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Comments (108)
LadyIzShy
Posted on April 18, 2011 at 4:45pmI live RIGHT Next to FLINT MI, the rate of murders that gap is growing. Funny how great these union towns are all doing
Report Post »Carolina Patriot
Posted on April 18, 2011 at 4:09pmIs this a 21st tax fact that will blow your mind??
I finally filed my federal and state income taxes on the 15th. I got a huge shock when I finished preparing them.
It was the refund (pause . . . let the drama build . . . get ready for the huge surprise). I actually got one. The important thing is that I didn’t pay any income taxes to either the state or the federal government in withholding or estimated taxes, but both are sending me money as a refund.
Now, we are clearly middle income folks. Being older, most of it comes from fixed benefit retirements. However, my wife worked as a substitute teacher and made a little spending money. She is also a professional musician and continues to perform in a semi-retired status. We did not have any capital gains income (like folks with fixed payment retirement plans, such as 401K plans), so much to our surprise, the government is going to refund us a right large amount of money we didn’t pay; a “refundable” tax credit.
Now, while I am happy to get a few bucks back from the feds after paying really large tax bills before retiring, I should have had to pay at least a few hundred dollars in taxes. After all, our gross income was about $50,000.
I guess I have joined the “MOOCHER” class, and I don’t like it. The fact that I got even a penny from the government at tax time is a major part of the problem the U.S. has with balancing its budgets. No one who pays no taxes should get a refund. It simply, “Does not compute!”
CP
Report Post »Blackhawk1
Posted on April 18, 2011 at 4:52pmNow you know how 45% of Americans feel that pay no taxes and yet get a refund.
Your Welcome………..
Report Post »Carolina Patriot
Posted on April 19, 2011 at 5:36pmBlackhawk1,
Thank you, I appreciate it; however, if you want to do something about this sort of improper use of taxpayer money, contact your representative and senators and insist that they repeal the Earned Income Tax Credit. That‘s what I’m doing as a person who is receiving it, so there is no reason you, who are paying it, should not do so, too.
The Earned Income Tax Credit is nothing but a gimmick to get votes for the Democrat Party. It’s a pretty expensive gimmick, too.
And, you’re welcome for the advice.
CP
Report Post »riverwomansdaughter
Posted on April 18, 2011 at 3:56pm“He has erected a multitude of new offices, and sent hither swarms of officers to harass our people, and eat out their substance.”
Sounds like our government has taken lessons from King George…
Report Post »Moment of Clarity
Posted on April 18, 2011 at 3:42pma flat tax would put a huge spike in the unemployment roles, what with all those IRS workers, accountants and H&R BlockHeads out of work …
Report Post »Hisemiester
Posted on April 18, 2011 at 3:36pmBanjarmon @ 2:37 Great post. Am sending it to all I know. Thanks!
Report Post »mrsmileyface
Posted on April 18, 2011 at 3:23pm************
Let me tell you how it will be
There’s one for you, nineteen for me
‘Cause I’m the taxman, yeah, I’m the taxman
Should five per cent appear too small
Be thankful I don’t take it all
‘Cause I’m the taxman, yeah I’m the taxman
If you drive a car, I’ll tax the street,
If you try to sit, I’ll tax your seat.
If you get too cold I’ll tax the heat,
If you take a walk, I’ll tax your feet.
Don’t ask me what I want it for
If you don’t want to pay some more
‘Cause I’m the taxman, yeah, I’m the taxman
Now my advice for those who die
Report Post »Declare the pennies on your eyes
‘Cause I’m the taxman, yeah, I’m the taxman
And you’re working for no one but me. The Beatles.
woodyb
Posted on April 18, 2011 at 3:18pmSince corporations are considered as individuals, how much more in taxes would GE be required to pay under Obozo’s plan??????????????
Report Post »Non-sequitur
Posted on April 18, 2011 at 3:40pmCorporations only pay taxes on money they do not reinvest. That’s like you paying your rent, gas, car payments, food and everything else and only paying taxes on the money you put in the bank.
The tax system is awesome, isn’t it? Shows again that corporations are people, but better.
Report Post »ccr
Posted on April 18, 2011 at 2:53pmDon’t you find it “interesting” that the Dems have the higher rate of lawmakers who have tax issues/don’t pay? Yet THEY are the ones to always promote a tax increase? With the examples of Geithner and Rangel……what more could we ask for “do what we say, not what we do“ or ”just shut up and pay”?
Report Post »Sinista MACE
Posted on April 18, 2011 at 2:52pmHere’s the fact about taxes.
The entire tax system operates on 90% BLUFF.
When you wake up and refuse to participate in the ponzi scheme scam, then their ENTIRE FACADE COLLAPSES.
Report Post »Armed Patriot
Posted on April 18, 2011 at 3:03pm@ Sinista MACE “Here’s the fact about taxes. The entire tax system operates on 90% BLUFF. When you wake up and refuse to participate in the ponzi scheme scam, then their ENTIRE FACADE COLLAPSES.”
Solution: Dont pay your taxes. Wake up with your house and all belongings confiscated for taxes, fines, etc and YOUR entire facade collapses. With the boot of government squarely on your throat while they steal your money, there is little option other than revolt.
Report Post »Sinista MACE
Posted on April 18, 2011 at 3:14pmI understand that is the solution, but be very careful what you say, you cannot advocate the non-payment of taxes, that is a violation of Federal Law, and they can prosecute you for it.
The problem with your scenario is that you assume that if there is a tax revolt, that the American public at large is going to ALLOW the Federal Government and IRS, rich banks, etc., to come and take ANYTHING from them and their neighbors.
We already have people on the left advocating the non-payment of mortgages in order to create another economic crisis. It’s not a far extension to assume that a tax revolt is next from the people on the right.
Report Post »Sinista MACE
Posted on April 18, 2011 at 3:18pmAnyway, the IRS can only take certain things, you can hoard and hide things from them, and if you have a mort, the house is the bank’s anyway. So they‘ll be taking the bank’s house.
If they come for your house that you own, your facade collapses that you owned your land in the first place, because they couldn’t tax you for land that you own.
But for all that to occur, you have to assume that the tax burden is ours to begin with, when the fact is that the acts creating these unconstitutional institutions of thieves weren’t ratified by all the states anyway, and is essentially operating outside of the Constitution.
Report Post »Davy Crockett
Posted on April 18, 2011 at 2:49pmFair Tax
Report Post »DangerClose
Posted on April 18, 2011 at 2:46pmThe problem of revenue doesnt lie in the top 1%, it lies in the bottom 50% that pay no taxes and is the biggest recipient of handouts.
Report Post »Non-sequitur
Posted on April 18, 2011 at 3:15pm50% of Americans don’t pay: federal payroll taxes, gas taxes, sales taxes, utility taxes and many other taxes?
Really?
Report Post »Sinista MACE
Posted on April 18, 2011 at 3:30pmAre you serious?
What about the super mega rich?
People making over 250k aren’t rich…
If that was the case, the president would cut his own salary in half, he makes over 250K a year as president!
The bottom 50% can’t afford any new taxes..what do you want them to do, eat mudcakes like Ethiopians?
The super MEGA rich in league with the Elite Bankers are the ones who’re robbing everyone else blind and pitting the nouveau riche against the poor…
Report Post »Blackhawk1
Posted on April 18, 2011 at 4:44pmNon-sequitur
No dumb dumb, they pay NO Federal Income taxes. Matter of fact if they file they get money back that they never paid in. Earned Income Credit is another name for a Welfare Check from the IRS.
Report Post »stinkybisquit
Posted on April 18, 2011 at 2:42pm“4. You could fill Dallas with the number of accountants Americans hire to help with taxes each year (over a million).”
Report Post »That sounds tempting… (No offense, Dallas.)
Mainer forever
Posted on April 18, 2011 at 2:40pm@ Revere1 that web site Battlefield 315…What a RIOT!!! Thanks for sharing it.
Report Post »Two Party Scam
Posted on April 18, 2011 at 2:37pmQuite a discussion broke out over the questions surrounding taxation, theft and redistribution, and so I thought it would be good to set down some basic principles on the subject. This is to prevent the “guiding principle” from becoming a charge of theft for any tax I might find distasteful.
1. The point is not that taxation is theft, but rather that taxation can be theft. Obviously, in Scripture, there is legitimate taxation (Rom. 13:7), which would not be theft, and illegitimate taxation, which is (Matt. 17:25-27). If that is the case, then there is a line that a state must not cross, and it is incumbent upon both rulers and citizens to know where that line is, and why it is there.
2. In biblical law, the fact that the civil rulers can steal is indisputable. Ahab stole Naboth’s vineyard (1 Kings 21:7), and it would not alter the facts of the case if it had been done under cover of zoning regulations or land reform. How hard would it be for a Michael Moore kind of filmmaker to make Naboth out to be a greedy “landowner” who cared more about the “land of his fathers” than he did about “the good of the people.“ And by ”people,“ we of course mean ”Ahab.” Ahab’s a people.
3. If a state can steal, then the question becomes “how do we tell?” Anybody who wants to give the authorities an automatic pass because what they did was perfectly legal is a naif who ought to have his drivers licence revoked. Anybody who resents giving any portion of his income for legitimate civic purposes is a scofflaw. So, where is the line?
4. The line will of necessity have to be enforced by the rulers of the people, and this is why one of the first principles is that the rulers of the people are not qualified for their task unless they are men who hate covetousness.
“Moreover thou shalt provide out of all the people able men, such as fear God, men of truth, hating covetousness; and place such over them, to be rulers of thousands, and rulers of hundreds, rulers of fifties, and rulers of tens”
(Ex. 18:21).
“The prince that wanteth understanding is also a great oppressor: but he that hateth covetousness shall prolong his days” (Prov. 28:16).
But we are currently governed by men who love covetousness.
5. Determining the line between legitimate taxation and illegitimate thieving taxation is not necessarily an easy task. It can be complicated. I acknowledge that it could be a challenging task for men who fear God. And so this is why we must be led by men who fear God. And it is also why I deny that it can be done by our current gaggle of miscreants, buffoons, knaves, poltroons, scoundrels, and then, of course, there’s the Democrats.
6. One approach to answering the question would be Samuel’s dire warning to the Israelites, when they asked for a king “like the other nations.” He said that if they did that, the result would be an unthinkable level of taxation . . . at ten percent. And here we are, looking back longingly at ten percent levels like they were the leeks of Egypt or something. When the state takes more than ten percent, then the state is claiming more than God claims in the tithe. When this happens, if the state has not done something overweening or despotic, then wait ten minutes.
7. While the ten percent ceiling is a good rule of thumb, a better approach would be to measure by what God tells the civil government to do. The state is God’s deacon (Rom. 13:4), and God never leaves His deacons without instructions. A deacon is, by definition, under authority. We should measure his appropriations and expenditures over against what he was told to do. When servants use the master’s resources for tasks unassigned by him (Luke 12:46-47), what is the result? When the Lord comes back to evaluate His deacons in the Congress, what will He do? He will not be indiscriminate; the punishments will fit the crimes. Some He will cut in sunder, and others will simply be beaten with many stripes. This will not happen because our rulers are not His deacons; rather, it will happen because they are.
8. The assigned task that was given to the civil rulers was to punish the wrongdoers (Rom. 13:4). It most emphatically was not to level the economic playing field. Anybody who can read the New Testament and think that it is the under-deacons role to preemptively make sure that the servant with ten talents is left with only three, and the one who hid his one talent is given two more to hide, is radically out of touch with the spirit of the Bible.
9. The U.S. Constitution is an “express powers” document. With regard to the risks involved in letting sinful men rule over other sinful men, this is a wise and biblical approach. It means that those who rule can only do what was laid down for them beforehand to do. That which is not required of them is prohibited to them. This is in the spirit of the Bible — civil rulers can rule, and they can tax us for that rule, and in exchange, they need to be able to show us from the Bible how that task they have undertaken is legitimate. If they need funds for the cops to chase down the murderers, this is easy to do, and no one who is biblically informed would begrudge it. If they need funds to send Charlie Rangel to the Bahamas, the authorization is a bit more murky.
10. In the Hebraic parallelism cited above (Prov. 28:16), a prince who does not hate covetousness, besides ruining himself, is also oppressing the people. And when it comes to understanding the nature of this oppression, trust the feedback you get from a welder who attends the academically-disreputable tea parties, and not the sycophantic musings of the prince’s hired economic brains, who can write learnedly of this and that. Oppression is as oppression does.
Report Post »LadyLirpa
Posted on April 18, 2011 at 5:57pmWhat? You just quoted a bunch of crap from the bible. What on earth could that possibly have to do with taxing a secular nation? You’re a troll.
Report Post »wodiej
Posted on April 18, 2011 at 2:34pmFlat tax, everyone pays.
Report Post »poster
Posted on April 18, 2011 at 2:34pmThere will never be a flat tax. A politician’s power resides in the tax code. They manipulate the code to get “donations” from those requesting changes to the code. It’s that simple. What do you think most lobbyists do? They lobby for favorable changes (for their clients) in the tax code.
Report Post »TeaPartyPatriot
Posted on April 18, 2011 at 2:32pmDo you have NO INTEGRITY, NO ETHICS, NO CONSCIENCE and NO BRAINS?
If you answered YES then you get to save THOUSANDS on your tax bill with “innocent mistakes”. Here’s how:
Just take THE TIMMY TAX lunatic-left LOOPHOLE. Like TAX CHEAT Treasury Secretary and Head of IRS tiny tim geithner, don’t pay $34,000 in owed taxes until your tax cheating is exposed by the media. And don’t forget to claim the non-existent Geithner Camp Deduction for sending your kids to summer camp. (NB: all lunatic-left socialist d-crats can just make-up any deductions they want; these phony deductions are now called “geithners”.)
Want an even smaller tax bill?
Then invoke THE REPROBATE RANGEL RULE. Like TAX CHEAT charlie rangel, who has been protected for years by “culture of corruption” leader pelosi, “forget” about paying taxes on foreign rental income of $10,000 AND receive special, sweetheart IRS treatment that includes NO PENALTY for failing to pay taxes!
D-crats love to tax you to death, then tax your death, all while wasting your tax dollars on crony capitalist bonuses, bailouts, abortions, pork, socialist welfare and THEMSELVES. But, like lunatic-left liberal d-crat TAX CHEATS geithner, rangel, olbermann, mccaskill, daschle, killifer, solis, kirk, sebelius and millions more, they hate to pay taxes, and they’ll cheat the government out of every penny they can.
That’s “change you can deceive in.”
Report Post »Aunt Nee Nee
Posted on April 18, 2011 at 2:31pmThe Founding Fathers were smart men. The original Constitution FORBAD a federal income tax because they knew that once politicians could put their hands into the citizens’ pockets, there would be no end to the abuse! It’s time to repeal the 13th amendment, shred the IRS code, and implement the Fair Tax. NO MORE INCOME TAX!!!
Report Post »Aunt Nee Nee
Posted on April 18, 2011 at 2:35pmCORRECTION: Repeal the 16th (sixteenth) Amendment, not the 13th. My bad!
Report Post »felina g
Posted on April 18, 2011 at 2:31pm“V: Remember, remember, the fifth of November, The gunpowder treason and plot. I know of no reason why the gunpowder treason should ever be forgot.”
Report Post »Nobamazone
Posted on April 18, 2011 at 2:28pmNational sales tax, PERIOD! NO IRS, no tax forms, no loop holes, no tax breaks, no tax exempt
Report Post »you buy it, you pay a tax on it, just like a state sales tax
how can it be more fair than that? you have more, you buy more, you buy more, you pay more, you buy less, you pay less….. you pay your fair share.
Obviously this is way too simple for the those in power, or more likely, they hate it because it takes away a big part of their power!
ReneePA
Posted on April 18, 2011 at 2:40pmThat is absolutely the way to go. Fair Tax Now!
Report Post »chfields62
Posted on April 18, 2011 at 3:46pmFair tax all the way!! This way everybody pays, not just 50%………….
Report Post »develdog84
Posted on April 20, 2011 at 10:14amThe fair tax is the best. But there should be some exemptions, like flea markets, yard sales, and places like the Good Will that will allow the poorest to avoid some of the tax on necessities.
Report Post »be sure to support Hermon Cain for pres. He supports the fair tax
REVENANT
Posted on April 18, 2011 at 2:23pmIn theory, the tax system is a mechanism to fund the government. In today’s practices, it’s a vehicle of theft, and redistribution of wealth.
Report Post »ares338
Posted on April 18, 2011 at 2:15pmAll of this was created to feed an industry. The tax industry. Lawyers, accountants, H&R Block, etc.
Report Post »BetterDays
Posted on April 18, 2011 at 2:23pmThe machinery of Debt is fed, but it is not the source, that source would surprise you beyond belief as to exactly whom controls and profits most on the FED, IRS, IMF debt machine. Hint, think way outside of the box.
Report Post »SgtB
Posted on April 18, 2011 at 3:07pm@ Ares, the FairTax would stop all of it too.
@ Betterdays, are you implicating the international banking cartel and the Rothschilds? We need to find a way to make them pay us interest.
Report Post »BetterDays
Posted on April 18, 2011 at 2:15pmI read the whole article, applase for BetterDays, not so much I guess?
I like the last image and question, just how did this administration manage to spend over SEVEN TRILLION dollars?
And just a side note to irritate the so called non religious trolls, Secular Humanism, I.e., the social justice theology is a religion, so says the US supreme court in a decision from 1961.
“In the 1961 case of Torcaso v. Watkins, Justice Hugo Black wrote in a footnote that:
Among religions in this country which do not teach what would generally be considered a belief in the existence of God is Buddhism, Taoism, Ethical Culture, Secular Humanism, and others.”
Report Post »Quote from Supreme Courts opinion.
SgtB
Posted on April 18, 2011 at 3:04pm3.7 trillion, otherwise known as a shade under $12,000 per person in the US. I’m not subtracting anyone either. Even the little babies are included in my per person figure.
Report Post »3,700,000,000,000
308,000,000
ConservativeFeminist
Posted on April 18, 2011 at 2:10pm~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Enough is enough. Has everyone become an active member of their local Tea Party?
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Report Post »Khthulhu
Posted on April 18, 2011 at 2:23pmI have.
Report Post »CatB
Posted on April 18, 2011 at 2:23pmI have .. in fact I am “active” in many … both in Florida and in the summer when I vacation in Michigan!
Report Post »conversationcanwork
Posted on April 18, 2011 at 2:26pmlol, nope.
Report Post »CatB
Posted on April 18, 2011 at 2:35pmconversationcanwork
Posted on April 18, 2011 at 2:26pm
lol, nope.
____________________________
lol dope
Report Post »LadyLirpa
Posted on April 18, 2011 at 5:55pmThere’s no such thing as a conservative feminist.
Report Post »Snowleopard {gallery of cat folks}
Posted on April 18, 2011 at 2:08pmSo lets just go to a flat tax system which is easy to figure out how much you owe:
How much you made * % of rate = payment.
Instead of Obamas How much you made = send it.
Revere1
Posted on April 18, 2011 at 2:12pmThe liberals have been spreading falsehoods about taxes for a long time. They would have everyone believe that the rich don’t pay any taxes and you can solve all problems by taxing the rich. Not a chance. Libs have been itching to raise taxes on the middle class too. http://www.battlefield315.com/2011/02/liberal-taxes-explained.html
Report Post »Sharon
Posted on April 18, 2011 at 2:17pmI couldn’t agree more!
Report Post »Gold Coin & Economic News
Posted on April 18, 2011 at 2:19pmHere’s a tax fact – I’m sick of the government stealing from me and then wasting the money!
Report Post »CatB
Posted on April 18, 2011 at 2:22pmFLAT TAX .. yes! No deductions … you have a child pay for it …not my problem .. .make it flat and EASY!
Report Post »CultureWarriors
Posted on April 18, 2011 at 2:26pmSnowleopard your suggestion would be the intelligent thing to do. Unfortunately, Congress will just do the opposite.
Report Post »harumph
Posted on April 18, 2011 at 2:31pmBrilliant. Forwarding… now.
Report Post »Thank you.
J.C. McGlynn
Posted on April 18, 2011 at 2:35pmHey, SnowLeopard: If I don’t pay my taxes, like Tim Geithner or C. Wrangle, think I can get a federal job too?
Report Post »Darmok and Jalad at Tanagra
Posted on April 18, 2011 at 2:36pmEvery politician should have to do their taxes, live on CSPAN, with no help from anyone, and be audited right after they are done. If they can do this, error free, then the tax code isn’t too hard. But, it should be like a test, pass or fail. If they fail, the IRS should be right there and levy their penalty. All of this should be out in the open and it should be an annual event. If our leaders can’t understand and follow the tax code, how can we.
Report Post »Mainer forever
Posted on April 18, 2011 at 2:37pmRevere1 That web sit Battlefield 315 is a RIOT!!! Thanks for sharing
Report Post »lovenfl3
Posted on April 18, 2011 at 2:39pmWe need the fair tax so every American has skin in the game. It would put an immediate end to the great dividers http://www.youtube.com/watch?v=5nTMaT_9QGo class warfare game that is tearing this country apart.
Report Post »sleazyhippo
Posted on April 18, 2011 at 2:48pmI heard on C-SPAN this morning that the IRS has obtained record levels of illegally unpaid taxes – many from off shore banks – this year. The average unpaid taxes enforcement IRS agent returns 30 times their salary to the treasury every year, and this administration has been a bulldog on law enforcement.
Report Post »showmerancher
Posted on April 18, 2011 at 2:51pmObama’s flat tax idea is even more simple:
1. Enter your gross earnings for the year ____________ .
Report Post »2. Send it in. We’ll redistribute it equally among you.
Sinista MACE
Posted on April 18, 2011 at 2:54pmThe definition of taxes is TAKING.
TAKES=TAXES.
Why are you willing to be robbed?
Report Post »sWampy
Posted on April 18, 2011 at 2:55pmWe don’t need to go completely flat tax, with zero deductions, we just need to make sure the deductions make since. Let people deduct they health care, primary residence house note, grocery bills, gas to get to work, car insurance, car note they use to get to work, tuition for their kids, retirement savings. Don’t let them deduct crap like vacations thinly disguised as a business expense, don’t let them deduct vacation homes, boats, jet ski’s, don’t let them write off sports tickets, concerts, ballets, meals at restaurants, lawyer fees, attorney fees.
docvet
Posted on April 18, 2011 at 2:57pmUh, FairTax. Uh, FairTax. Uh, FairTax, NOW!
Report Post »Armed Patriot
Posted on April 18, 2011 at 2:58pm@ J.C. McGlynn “Hey, SnowLeopard: If I don’t pay my taxes, like Tim Geithner or C. Wrangle, think I can get a federal job too?”
Yes, making license plates.
Report Post »SgtB
Posted on April 18, 2011 at 2:59pmActually Snowleopard, we already have a flat tax in place. You notice that 15% that comes out for Soc. Sec./ medicare? That is a flat tax, and it has done nothing but increase since it was put in place. I suggest that you look into the FairTax. It is a one page tax plan that would only charge taxes on new goods or services for final sale. It would erase all taxes except for excise taxes, like those found on cigarettes and gas (I’d like to see those gone as well). It would cause a short term spike in the economy prior to its date of enactment due to the run on the market to buy goods that would soon be federally taxable. So its good in the short term because it would cause consumer spending to increase. But the best part is that it doesn’t tax savings or gifts ever. This means that foreign capital will be drawn to the US because the investors would not be taxed. Also, another long run benefit is that ALL products will incur the tax. This means that goods made in China will be taxed at the register just the same as the goods from USA. Currently, the tax system incorporates taxes into those US made products already, driving up the cost of US goods. This will make US exports less costly and we all know that we need to reconcile our trade deficit in order to grow the country’s wealth. Bottom line is that the Fair Tax is better than a flat tax. Did I mention that it would do away with annual filing and the IRS? Accountants could go back to doing what they do best, making people money, not telling them how much they lost. There is also a prebate system so that no person pays federal tax until they have bought the things that they need to take care of themselves. If this sounds good to you, then do your own homework on the subject and start telling others about it.
Report Post »Sinista MACE
Posted on April 18, 2011 at 3:20pmYou’re all deluding yourselves if you think ANY tax is a good tax.
How about NO TAXES.
How about I decide how to spend my own fruit of MY labor…
Report Post »Snowleopard {gallery of cat folks}
Posted on April 18, 2011 at 3:22pm@SgtB:
The fair tax, thanks I shall check into it.
@Gold Coins
@CatB
Agree here with both of you.
@Culture Warriors:
You again hit upon the crux of the problem most americans have with the government; we get it ,they have a lack of intelligence for most of them on how the real world works, and combinded for the most part on a lack of morality on the fact they work for us, not the other way around.
@JC McGlynn:
Probably, try for POTUS, there should be a vacancy in 2012.
Report Post »Snowleopard {gallery of cat folks}
Posted on April 18, 2011 at 3:23pm@Banjamon:
In response to the list you posted:
Old saying for the times “Taxes, taxes as far as the eye can see; and the government demands more from me.”
Report Post »Snowleopard {gallery of cat folks}
Posted on April 18, 2011 at 3:24pm@Revere1
Great video.
Report Post »SLEAZYHIPPOs ILLEGITIMATE OFFSPRING
Posted on April 18, 2011 at 3:33pmBut momma if taxes were more fair wouldn’t there be a decrease in tax avoidance behavior and therefore no need for 106,000 IRS agents????? Seems to me momma if the IRS just investigated congress and government officials leading the treasury we could recoup most of those funds anyway….Love ya momma !!!
Report Post »MAJORMINOR
Posted on April 18, 2011 at 3:40pmObama’s Planned Tax Reform … The New 1040
How much did you make this year? $ ___________________
SEND IT IN
(We can then determine what you require for your needs and possibly send it to you)
Broke O’Bama
Report Post »Anonymous T. Irrelevant
Posted on April 18, 2011 at 3:48pmDid I read wrong or have an illusion? As I was reading the story, I could have SWORN I read “Would you like a glimpse of Obama’s taxes?” with a link. I decided I would finish reading and come back to it, but when I went back to look, it was gone. I KNOW I saw that, because I was going to see what he paid to charities. Maybe I finally am going crazy.
Report Post »JacobG
Posted on April 18, 2011 at 4:05pmWhy can’t we just make taxes voluntary. If the government ACTUALLY had good programs, that helped people, I might contribute. Basically doing your taxes would be more like a gigantic fund-raiser, where we have to list of how many dollars we wanted to contribute to their proposed budged items. I definitely would contribute to military funds on my own if asked.
Report Post »This would make the people in charge of the budget instead of Washington. Maybe as a first step, we have a flat tax rate, and we at least decide what percentage of our taxes go where. Why do we let Washington decide what is done with the money anyway?
Sinista MACE
Posted on April 18, 2011 at 5:17pmTaxes are technically voluntary.
The thing is, we agree to pay them, and if you don’t pay, they use the strong arm of “color of law” to come after you, and they’ll take it.
Report Post »independentvoteril
Posted on April 18, 2011 at 7:06pmI have a young nephew who is at his first real job after college.. he was a Obama man.. not so sure about the hope and change thing.. when we paid $35K in taxes this year cause he’s SINGLE therefore thought to NOT have any use for his money
Report Post »Darmok and Jalad at Tanagra
Posted on April 18, 2011 at 8:02pm@independentvoteril
I worked with a guy that loved Clinton and literally ran around yelling “We are going to make all those rich white Bas###ds pay” That year when Clinton retroactively raised taxes back to 18 days before he took office, 1 Jan 1993, he found out that he owed $800 in taxes. He actually sat there with this dumb look on his face saying “How can I owe taxes, I ain’t rich?” I looked at him and said, “He made everyone of those rich ”White” Bas####ds pay, didn’t he, welcome to the rich, fella”. I just wish I had a camera to get the expression on his face. (this guy and his wife each earned about 20k each, but he wasn’t rich, he was from Compton)
Typical Dem though, everyone is rich and the Govt deserves all their money, just not MY money.
Absolute true story, no fabrication or embelishment.
Report Post »nptden
Posted on April 18, 2011 at 8:16pmFlat Tax= less expense to do your tax + less IRS agents decreasing the Govt budget.
Report Post »wildbill_b
Posted on April 18, 2011 at 9:28pmSnowleopard {gallery of cat folks}
So lets just go to a flat tax system which is easy to figure out how much you owe:
What if you really don’t owe anything are only being tricked into voluntarily paying it?
What if really they can’t “impose” an “income tax” on your pay and as more of you learn it and rebut them, they realize their 70 year grasp on your wallet is coming to and end and so put out all this info about the “flat tax” to get you to vote to allow them to “lawfully” tax you where as now they can’t?
Plain and simple the “income tax” is and always has been an excise tax on corporate activity. But of course, we all know corporations don’t like giving up 15,000,000,000 yearly profit so the “lawyers” all got together and made up a whole new dictionary of commonly used words and gave them special definitions in “legal” proceedings and then forgot to tell you the words DON’T mean what you think they do and you mistakenly comply?
They tell you this right in statute which you are taught is “too difficult” for you to understand? For example:
Indiana IC 1-1-4 plainly states:
Rules
Sec. 1. The construction of all statutes of this state shall be by the following rules, unless the construction is plainly repugnant to the intent of the legislature or of the context of the statute:
(1) Words and phrases shall be taken in their plain, or ordinary and usual, sense. **Technical words and phrases having a peculiar and appropriate meaning in law shall be understood according to their technical import.**
ANY word which is specifically defined within the code is a “technical word” which is no longer to be used in its “plain, or ordinary and usual sense”. IF the definition says “The term ”green“ shall be construed to mean and include ”blue”, anywhere within that technical definitions scope in the code the word “green” does NOT mean green but DOES mean “blue”.
Just saying.
Report Post »Cemoto78
Posted on April 18, 2011 at 10:30pmIf there was ever a time in history to revamp the tax codes it’s now. Flush all the crazy special interest deductions and come up with an easy 2 page tax code. You made X amount of money and you get taxed at X%. Plain and simple. no tax breaks because you decided to get a sex change, color your hair, buy a purple shoe and brown one, get a haircut from an illegal immigrant, whatever. You would be surprised how much revenue would be brought in if the tax code was fair and simple. And for you entitlement rich losers who are sucking off the teat of government, oh yes you will have to pony up some tax money too for all the freebies your getting. Maybe then you’ll decide getting a job rather than playing the victim is more worth it.
Report Post »sooner12
Posted on April 18, 2011 at 10:57pmThe Liar-in-Chief knows that these numbers and results are true; he just doesn’t care. He keeps playing the have-nots against the haves who, by the way, create the jobs in this country. Just remember, it’s the small businesses that are the backbone of this economy and these are the ones Obami is attacking; as the above numbers indicate.
Report Post »Secret Squirrel
Posted on April 19, 2011 at 10:12pm……..
Report Post »Obama is a multimillionaire, yet he paid 25% tax rate.
He didn’t pay his “fair share” why are you asking me to pay more?
Obama gets much more benefit from government programs than I do.
He has a limo, driver, jet plane, chef, wardrobe, house, lots of vacations, plays golf instead of working.
develdog84
Posted on April 20, 2011 at 10:02amThe fair tax would be better. It would catch all the black market drug dealers and such, as well as the ones in the gray market that don’t report there income.
Report Post »BMG
Posted on April 22, 2011 at 10:54amI suggest you check out Fairtax.org or The Book, ‘The Fair Tax Book’ by Neal Boortz and John Linder.
A VAT is an *ADDITIONAL* tax on every step of production. If someone picks cotton it is taxed because it was ‘improved’ when it was picked. Spin it into thread…‘improved’, taxed again. Dye it different colors…‘improved’, taxed again. Turn it into a pair of socks…‘improved’, taxed again. The corporation at the end of this line of ‘improvements’ pays all that extra tax when they receive the finished product because those taxes were passed along to each new link in the production chain and then they put that extra cost in the price of their finished product when they sell it to the consumer. That extra cost is not called a tax then. It isn‘t on the receipt as ’VAT tax‘ it is never ’seen’ by the public. That is exactly why politicians love it. Because, just like our current system, the people never see the money leaving their wallets through taxation. They only see the cost of a pair of socks jump from $5 to $6 and think it’s just raising costs and not an oppressive tax by our Government. As you can see, VAT is not a sales tax on corporations, it is a regressive tax on every single person in the country because the corporations only pass that extra tax burden on to you and I. If you want some real damage done to our economy push for a VAT tax because that is what would happen if it were ever instituted. Don’t think so? Simply look at the mediocrity of the economies of every country involved in the European Union which are required to institute a VAT if they want to join the EU.
For those of you advocating a FLAT Tax, it is true that a FLAT tax would be preferable to a VAT. But a FLAT Tax would still be an *ADDITIONAL* tax because it does not eliminate our current system.
The FAIR Tax would be real tax reform that would help our economy. It would eliminate our current tax system (get rid of the IRS and all taxes including capitol gains taxes, death taxes and embedded taxes) and *REPLACE* it with a national sales tax of 23%. The average tax-payer under our current system submits about 25% to the IRS, NOT including non-IRS related taxes like property tax and capitol gains tax, etc. When you figure in all the other taxes we pay it is estimated that the average tax payer is paying something closer to 45%. The FAIR Tax would eliminate all those ‘other’ and ‘embedded’ taxes leaving the tax payer with a 23% national sales tax and nothing more. Economists have shown that it would draw in the same amount of revenue for the Federal Government while at the same time bringing fairness and transparency to the system.
The Federal Government’s revenue stream would be enhanced by the collection of the FAIR Tax by EVERYONE that buys any good or service (except for essential items and second-hand items – a house is taxed the first time it is bought but not thereafter). That means that the 50 million tourists that visit us each year would be paying into our tax system just like all the rest of us as would 30 million illegal aliens, black markets, etc. All citizens would also receive a rebate calculated by family size up to the poverty level.
The FAIR Tax will also enhance our ability to compete in the global market thereby returning off-shore business to our borders. Recently proponents of the FAIR Tax interviewed executives from 200 international companies. They asked if the FAIR Tax was instituted in the US how would that affect their company. 80% of the executives said they would increase their business with the US (because their tax burden would be reduced). The other 20% said that they would move their headquarters here.
There is also the fact that 300-500 BILLION dollars are spent each year for us to simply comply with our current tax code. Under the FAIR Tax system, that money would be free to enter our economy in other ways.
The current options we have for taxation are:
Our current system (which is about 45% per average taxpayer which includes embedded, federal and state taxes).
A FLAT Tax (which is variable % tax in addition to our current system).
A VAT (which is a variable % tax in addition to our current system).
Or the FAIR tax (which is a 23% consumption-based tax ***INSTEAD*** of our current system).
Now some of you out there are going to whine that the FAIR Tax is some kind of regressive tax on the poor (You want regressive taxation? Just look into the VAT!). But those that say that don’t explain that there is a built in cost of living rebate in the FAIR Tax which refunds the cost of the basic necessities thereby making the tax burden on poor people no more than they are currently carrying under our current system.
Those of you not seriously considering the FAIR Tax are essentially saying that the average taxpayer should be paying 45% or higher (with the addition of a FLAT or VAT Tax) rather than the 23% (TOTAL) under the FAIR Tax.
You‘re willingly saying that you’d rather pay double in taxes instead of supporting the FAIR Tax.
Waiter: “Sir, your bill is $20.00 for that lunch.”
Report Post »You: “No Sir! I’d rather pay $40.00, thank you very much!”