the Air Vent

Because the world needs another opinion

An Important Article on Taxes

Posted by Jeff Id on February 14, 2012

This article on taxes states the truth about Obama’s plans and where America is truly at.  There are too many lies by our politicians these days and the ‘rich don’t pay enough’ is the biggest. If you are an Obama voter, at least do yourself the favor of being educated on what taxes you are demanding.  Most liberals I have met (not all) are woefully ignorant on the subject of taxation.  Of course, until we are taxed, we are all ignorant.

Link here.

Back to data.


9 Responses to “An Important Article on Taxes”

  1. Mark T said

    We are fast approaching the point at which more than 50% of the population will pay no federal taxes whatsoever (local taxes are mostly unavoidable – though the lower 50% do not pay much there, either). Once we hit that mark, my hope for this country will seriously nosedive.

    Mark

  2. diogenes said

    you still have to finance your federaql deficit though….is it conceivable that you can ever bring it back under control?

  3. sean2829 said

    If you think the lower wage earners don’t pay much in Federal income taxes you may be right but they do pay a ton of taxes particularly if you include some of the hidden gems and they earn just enough that they don’t get the earned income tax credit. First of all the payroll deductions is something everyone pays. That’s nearly 14%, almost Romney-Buffet territory. (I include the employer’s portion since those costs tend to hold down wages.) Then there is healthcare. Because of government meddling in the market place, we pay twice as much per capita than almost any other country so the average American family outlay is now $20K per year. (Again, half is paid by the employer but again it holds down wages.) Additionally, the government pays only 80% of the costs for the people it covers and allows providers to pass those costs onto the privately insured. Then there are the excise taxes everyone pays for recurring services, energy and such plus sales taxes on many items. Then throw in all the extra fees an employer pays to the local government and their state just for the privlege of hiring employees. Add all these things up and I think you’ll find that an hourly employee with wages between $35 and $40K probably brings home less than $30K and it costs his employer substantially more than $50 K to have them on the payroll. I wouldn’t be the least bit surprised if an hourly worker earning less than $40k per year didn’t have nearly half of their total earnings end up in somebody else’s pockets.
    Don’t fall into the class warfare trap of saying half the folks don’t pay taxes. It’s better to remind those folks that work very hard for low to moderate wages that a lot of the money they earn is distributed to others in government and health care before it ever makes it into their paycheck. When they understand the full extent of hidden taxation and expenses payed or the worker’s behalf by their employer, they might just start thinking smaller government is a good thing too.

  4. Matthew W said

    I pretty much made the same point:

    http://bacontime.wordpress.com/2011/12/10/poor-journalism/

    The fact is, there will never be enough wealth to tax to eliminate the federal debt.

    It is all about spending !!

  5. Tom B. said

    Scary. So the latest spending to fund the US government is double what Clinton spent. Double. Does anyone believe we are getting twice the benefit? Worse than that, the deficit continues to climb without any obvious end in sight, not even a good plan to reduce the growth. In the first third of this fiscal year, with interest rates at record lows, the INTEREST payments alone on our debt were $169 Billion dollars. Interest alone. (see: http://www.treasurydirect.gov/govt/reports/ir/ir_expense.htm for the monthly list).

    When our economy really starts to recover in a few years, the debt will be 15% higher, what do you think the interest payments will be when interest rates start to recover too?

    Our government (not just Obama) is destroying our future.

  6. Yes, Tom, you may be right.

    Destruction of the US economy may have been the result of four decades of deceit about Earth’s heat source – the Sun – documented in this one-page summary of key experimental data from precise analysis of:

    1. Solar emissions (neutrinos, luminosity, solar wind),
    2. Meteorites, planets and lunar samples (1969 Apollo Mission), and
    3. Nuclear rest masses (National Nuclear Data Center, Brookhaven Nat’l Lab)

    http://dl.dropbox.com/u/10640850/The_Sun.pdf

    And historical events as the global climate scandal developed (1971-2011):

    http://dl.dropbox.com/u/10640850/Climategate_Roots.pdf

    Leaders of NASA and DOE hid or ignored experimental data that their own agencies funded. While NASA was generating data to support the AGW story, NASA was also hiding isotope data from the Galileo probe of Jupiter that undercut the 1967 Bilderberg model (standard solar model) of Earth’s heat source:

    A friend requested the one-page summary on the Sun so he could ask leading solar physicists to comment on the data. They refused to do so, but claimed the AGW scandal had nothing to do with decades deceit about the Sun.

    They apparently want no blame for AGW policies that closed down CO2-producing industries here, sent the jobs overseas, and left:

    a.) Hundreds homeless, jobless, living on welfare, food-stamps, unemployment, social security, etc., and

    b.) A sharply declining value of the US dollar (i.e., the cost of goods is increasing daily).

  7. steveta_uk said

    I lost a lot of sympathy with the writer when he declared that apparently it is “tax fraud” by the government to actually track what he receives, so he can no longer get away with fiddling his taxes as apparently he could in the good old days.

    That was a very stupid point to make in an otherwise reasonable (but unfortunately fact-free) article.

  8. Mark T said

    If you think the lower wage earners don’t pay much in Federal income taxes you may be right but they do pay a ton of taxes particularly if you include some of the hidden gems and they earn just enough that they don’t get the earned income tax credit. First of all the payroll deductions is something everyone pays.

    They pay payroll taxes, but wind up getting a chunk back – depending upon various credits (not just EIC). If all of your credits and deductions add up to greater than your income tax paid, you are essentially getting a refund on your payroll tax and that threshold is higher than the EIC level.

    The payroll tax is a scam. It is basically a tax on the poor since it caps at around $110,000 (I don’t recall the actual limit). Part of it is Medicare/Medicaid, that does not cap, but it is only 2% or so. The likelihood of me ever reaping much benefit from my “investment”* is very low given my life expectancy (70, if family history is any indicator) and minimum retirement age (67).

    Actually, Steveta_Uk, the author did not say “apparently it is “tax fraud” by the government to actually track what he receives, so he can no longer get away with fiddling his taxes as apparently he could in the good old days.”, he specifically said “To not report that difference is deceptive. Some might call that tax fraud.” Italics mine.

    In other words, telling us that our rates are low without noting the difference is tax fraud according to some. The article is NOT “fact-free” as you state. Indeed, it is quite true, all of it. We are routinely lied to by our government. If ever there was a travesty in the US, it is the machinery in DC robbing us of our future while we blindly re-elect them every year.

    Mark

    * I put investment in quotes because the Supreme Court has ruled that FICA is NOT an investment fund and we do not have a reasonable expectation to recoup any of it, i.e., it is part of the general fund for the government to do with as they please. That it was pitched to the public as a safety net, a retirement investment in case we are unable to invest ourselves, is immaterial, apparently. The law simply was not written that way. This ruling by SCOTUS merely confirms, openly, that it is a pyramid scheme.

  9. Neil said

    The general thrust of the article I agree with. I also agree that simpler tax systems are better and as a USA tax payer but not a USA resident (I am here for work for a few years) I can say you guys have one complicated tax system, personal and corporate! I absolutely support the focus on the spending side. It has lots of noise associated with it, but the failing of govenment is that once they “give” a benefit they almost never take it away. What is lost on most people, but is partially emphasised in the article is that govenment redistribution generally creates no new additional wealth, thats why it is call redistribution. The goal of government should be to create as many rich people as it possibly can. Sure it has to balance the scales a little, but that effort should be focused on giving people the opportunity to be as rich as they can possibly be. Taking money form the productive sector and redistributing it is not value adding. Creating a significant majority who are net zero or negative tax payers is a strategy that will keep the left in power until there is no money left to distribute, they will become the victims of their own success!

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