Why are people on FB so misinformed when talking about politics.

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deleted5

Active member
‎"$1.94M paid in taxes. Is that his fair share? Let's do a quick, back-of-the-envelope calculation...

The US federal govt spends approximately $3T per year. With 300M people in America, this amounts to a tab of $10,000 for each American. Therefore, it appears that not only did Mitt Romney pay his fair share, but also the fair share of 193 other Americans. What kind of audacity does it take for you to look at somebody who paid for 193 other people and say he didn't pay his own fair share?"
 
what an insanely ironic thread for you to create haha

if i'm to understand what you are saying here, you think that all americans should pay an equal share of the tax burden, or $10,000 each according to your research?

so basically, we ignore pretty much every important factor such as say...the amount that each person makes annually....in this hypothetical idea of yours?

Joe who lives in the projects should pay 10,000 even though he makes $13,000 annually, and Mitt Romney should also only pay 10,000 even though he makes millions?

 
something someone posted on fb i didn't not write that nor do i agree with it. comment to that was you are so fucking out of touch with the world it amazes me.
 
in looking at his "fair share" it doesn't matter how many people it would account for if it were divided up equally among every person in the U.S. What matters is how large his income is in relation to the incomes of the rest of the people in the U.S.

given that his income is so much exponentially larger than the normal person, of course he should be paying taxes that amount to X number of "regular" people's tax bill.

193 normal people's tax bills added up is still jack shit compared to the taxes a millionaire should owe. It's not about the dollar amount that the millionaire pays, that's not important here, it's about the Percentage of Income that each person pays.

If someone who makes 100,000 a year has to pay 20% (for simplicity sake) that amounts to 20,000 in taxes.

If a millionaire who makes 2,000,000 also pays 20%, it comes out to 400,000 a year. Each person's overall income, and more importantly Disposable Income, is reduced by the same factor: 20% or 1/5 in our example here. That's fair. Each person is impacted equally.
 
so if everyone should pay the same amount...you're inferring everyone should make the same amount??? you damn red blooded commie.
 
understood, that person you're referencing is an idiot then. my apologies to you

anyway, my example above is for anybody who is of the same mind set as your facebook friend.
 
not at all, i'm saying if everybody were to pay the same % in taxes of their respective incomes, the amounts would obviously differ, but it would impact everybody in the same way %-wise and thus I would consider that to be "fair"
 
well he is already digging a bigger hole by saying he's better then Obama because
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he owns a tee shirt printing company that his parents gave him money for.
 
Listen here while I drop some knowledge on DOUBLE TAXATION, preferential tax rates for capital gains and investment income, and our progressive tax structure.

(1) Double Taxation - When a company earns income it is taxed at 35%. When those profits are redistributed to shareholders (owners) they are taxed AGAIN. At first glance, a person says "OMG they are only paying 15% of their income towards taxes." In reality of the dollar made in the business they are only able to keep about 55 cents [calculation: 1-.35=.65*(1-.15)=.5525]. HOWEVER, when a person is paid ordinary income (ie. wages) they are taxed at following the IRS progressive tax rates (see below). From the business perspective, compensation expense is fully detectable, and thus, NOT TAXED before being redistributed to the recipient.

(2) Preferential Tax Rates for Long-Term Capital Gains and Qualified Investment Income - In order to mitigate the effects of double taxation explained above, we allow preferential tax rates. If we didn't, profits redistributed to business owners could be taxed at an effective rate of nearly 60%. People say, "OMG this only benefits the rich!" WRONG! If you make less than $35,350 in taxable income (income after deductions and exemptions) you pay 0% tax on those gains. If you make over that amount you pay 15%.

(3) Progressive Tax Structure - Some one above mentioned a "flat" tax rate structure where everyone pays, for example only, 20% of their income to taxes. Rich people pay more, poor people pay less, but we all pay the same percent. That is NOT what we have, rather we use a progressive structure. The more you make, each additional dollar is taxed at a higher rate, according to the IRS tax brackets. Here is an example: We have John and Sue, both work normal jobs earning normal wages (ordinary income). After deductions and exemptions John is left with $5,000. Sue is left with $100,000. John ends up in the 10% marginal tax bracket and pays $500, or 10% of his taxable income. Sue ends up in the 28% marginal tax bracket and pays $21,460, or 21.4% of her taxable income. US voters and politicians have decided that it is more "equitable" (ie. fair) to have a proportionally larger portion of the tax burden paid by high income individuals.

/end tax lesson

I don't know if I have accomplished anything but I hope this at least opens one person's eyes to how tax is a little more complicated then he paid 14.2% and I paid 20% and made less money. If you have any other questions or intelligent discussion related to the issues I am happy to partake. And yes, I am bored as fuck.
 
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