What Do You Mean I Can't!

Fyron · #1 April 26th, 2004, 09:56 PM

Quote:

Just curious, AT, where did you get your figures from (the $25k/30%, $250k/2.5%)?

Most likely his butt. That, or some political pundit pulled them out of his butt and AT is just reiterating them. Those earning $250k pay a LOT more than 30% of their income in taxes. It is just those that earn in the millions that can hire those really high priced accountants that can scam their taxes to avoid paying most of them... but there are very few such people, so it is not really that big of a loss...

[ April 26, 2004, 20:56: Message edited by: Imperator Fyron ]

narf poit chez BOOM · #2 April 26th, 2004, 10:06 PM

Gee, nothing like being nice and polite, eh Fyron?

Cyrien · #3 April 27th, 2004, 04:32 AM

Intersting you should mention those wealthy few that can exlude themselves Fyron.

As of 1995, Federal Reserve research found that the wealth of the top one percent of Americans is greater than that of the bottom 95 percent. Three years earlier, the Fed's Survey of Consumer Finance found that the top one percent had wealth greater than the bottom 90 percent.

Imagine if those top 1% actually paid their taxes instead of having access to all the nice tax shelters that they can artificially construct.

Why it might even be...

The United Nations Development Program (UNDP) reported in 1998 that the world's 225 richest people now have a combined wealth of $1 trillion. That's equal to the combined annual income of the world's 2.5 billion poorests people.

UNDP calculates that an annual 4 percent levy on the world's 225 most well-to-do people (average 1998 wealth: $4.5 billion) would suffice to provide the following essentials for all those in developing countries: adequate food, safe water and sanitation, basic education, basic health care and reproductive health care. At present, 160 of those individuals live in OECD countries; 60 reside in the United States.

The wealth of the three most well-to-do individuals now exceeds the combined GDP of the 48 least developed countries.

Just some food for thought. And remember just because it is a few people that can exlude themselves doesn't mean it is just a little money you are talking about.

[ April 27, 2004, 03:39: Message edited by: Cyrien ]

Atrocities · #4 April 27th, 2004, 04:38 AM

Quote:

Originally posted by Imperator Fyron:

quote:
Just curious, AT, where did you get your figures from (the $25k/30%, $250k/2.5%)?

Most likely his butt. That, or some political pundit pulled them out of his butt and AT is just reiterating them. Those earning $250k pay a LOT more than 30% of their income in taxes. It is just those that earn in the millions that can hire those really high priced accountants that can scam their taxes to avoid paying most of them... but there are very few such people, so it is not really that big of a loss...

Now now fyron. Time to step away from the key board and come down. It is my fault for not posting the link to the site that I read these figures from. I am bad, and I have angered you. That is understandable. But lets try and keep things civil and on the polite side of the fence.

Thanks.

Kamog · #5 April 27th, 2004, 06:25 AM

Wonder how much % taxes Bill Gates pays... is it really low or really high? His wealth alone must exceed the GDP of quite a few poor countries.

Fyron · #6 April 27th, 2004, 07:14 AM

Quote:

Just some food for thought. And remember just because it is a few people that can exlude themselves doesn't mean it is just a little money you are talking about.

I was more refering to those worth millions, rather than those worth billions. It only takes 40 people making $25k a year to equal one person making $1m. There are a few orders of magnitude greater than 40 people making that $25k per each person making $1m. In this light, the people in the millions not paying much taxes due to loopholes are just a drop in the ocean.

An interesting, but unrelated, read on the history of taxes in the US.

Renegade · #7 April 27th, 2004, 10:44 AM

I don't understand the anger directed at the rich.
Really it isn't that important because it will never change. It is how the economics of the world have always been. 95% of the population are poor and do the dieing, labor, and day to day grind that the 5% rich do not have to do.

I agree with that tax reform is needed and that those who make less pay more and that is not right.