General Election Poll

**Nuckle** · 10-23-12, 02:48 PM

Originally Posted by deathgodusmc

Its probably 99% of the thought process behind it.

I just do not get it. I admire people that have figured out a way to make $11,000,000 per year. Make no mistake about it, if I do not get to that level it will not be from a lack of effort. Most likely my risk taking will restrict me from getting there but I will not stop trying. As the tax rates increase I would most likely continue my quest but not without some severe hate.

It is interesting though how I am supposed to care about the tax rate of a person making XX,XXX even though they could give two shits about my tax rate if I were making XXX,XXX of X,XXX,XXX. Rich people file bankruptcy too. Fuck them I suppose, they deserve it. Their house is nicer than mine.

Bottom line is that is seems like when people become the ones they thought needed a tax increase before they move to the next bracket up looking for the money.

**Nuckle** · 10-23-12, 02:51 PM

Originally Posted by deathgodusmc

Im actually fine with what i pay right now. What i would like to see changed is the damn rule book. I shouldn't need an accountant to go thru all my shit with a fine tooth comb trying to remember all the damn changes that happen every year. Britannica doesn't have a book with as many pages in it as the irs guide lines. Thats why the system is so fucked up.

I too can live with what I am paying now but feel like what I am paying is more than fair. I also would love to see a flat and fair tax that did away with the IRS all together. I hate it for the accountants but risks are risks.

**deathgodusmc** · 10-23-12, 02:55 PM

Originally Posted by Nuckle

I too can live with what I am paying now but feel like what I am paying is more than fair. I also would love to see a flat and fair tax that did away with the IRS all together. I hate it for the accountants but risks are risks.

I would love a flat tax. That would make it simple.

**Fovezer** · 10-23-12, 02:56 PM

Originally Posted by Nuckle

We probably will never agree on what "fair share" means. 35% on $377,000 is $131,950 in taxes. 25% on $139,350 is $34,837. The tax percentage for $377,000 is the same as it is for a zillion in earnings. Whos the 1%?

Uh, that's not how taxes are calculated... The top tax bracket, 35%, for 2012 starts at $388,351. If you make that much, your tax rate would be 29.02%. Only earnings above $388,351 are taxed at 35%. Plus, those who make "zillions" get most of it through capital gains, and that is only taxed at 15%, regardless of amount.

**Nuckle** · 10-23-12, 03:01 PM

Originally Posted by Fovezer

Uh, that's not how taxes are calculated... The top tax bracket, 35%, for 2012 starts at $388,351. If you make that much, your tax rate would be 29.02%. Only earnings above $388,351 are taxed at 35%. Plus, those who make "zillions" get most of it through capital gains, and that is only taxed at 15%, regardless of amount.

My mistake and you are correct. So I guess if you make zillions per year your total rate is slightly higher than someone making $388,351. That actually helps my argument though.

**Nuckle** · 10-23-12, 03:06 PM

....and before you lead me further down your nitpick. My point is that volume of taxes paid is more important than actual percentage. That being said I would like to see the loop holes closed. Maybe a slight increase on capital gains and a compromise of not being allowed any deductions if more than X% of your earnings is from capitol gains alone.

**deathgodusmc** · 10-23-12, 03:09 PM

I say tax the poor. Those sons a bitches are getting a free ride with welfare and food stamps anyway.

**-Lazarus-** · 10-23-12, 03:29 PM

Originally Posted by Fovezer

Uh, that's not how taxes are calculated... The top tax bracket, 35%, for 2012 starts at $388,351. If you make that much, your tax rate would be 29.02%. Only earnings above $388,351 are taxed at 35%. Plus, those who make "zillions" get most of it through capital gains, and that is only taxed at 15%, regardless of amount.

Uh, that's not how those that make zillions get most of it. Those that make zillions get most of it through real estate, and that is taxed at 0% until you cash it in - not even the gains they make on real estate are taxed if they reinvest them year over year. Oh and if one of their real estate deals goes belly up they can claim it as a loss on their tax return and GET MONEY BACK! Screw the stock market - my retirement plan is in real estate. If you are smart you can make zillions no matter what the economy looks like. OR, if you're a politician and you're smart, you can engineer a crash in real estate prices and then buy up as much of it as you can after the folks have lost their investments...

Oh and good luck getting the Dems to change that tax plan. You'll find that most politicians are heavily invested in real estate, and with good reason - they legislated their own success...