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Hewlett-Packard Company Message Board

  • cap_pig11 cap_pig11 Jan 15, 2013 3:59 PM Flag

    Only in America....


    could the rich people - who pay 86% of all income
    taxes - be accused of not paying their "fair share" by people who
    don't pay any income taxes at all.

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    • Only #$%$s who thinks it is fair that zillionaire hedge fund managers like Romney pays 12% total tax rate while their house cleaners pay higher tax rates in payroll and sales taxes.

    • if you include state taxes, payroll taxes, gas taxes, sales taxes etc etc the rich pay the smallest percentage in taxes of any class including those in poverty,

      it is a fact that is to confusing for the tea baggers to understand because it isn't black and white

      • 1 Reply to dumb.ivan
      • Those wing nut talk show hosts, like Limpball and Beck, are multi-millionaires themselves who have put their own interest ahead of USA. They are not #$%$ and surely understands the following:

        Payroll and sales taxes are regressive, and the dirty little secret is that over the last several decades they have made up a greater and greater share of federal revenues. In 1950, payroll and other federal retirement contributions constituted 10.9 percent of all federal revenues. By 2007, the last “normal” economic year before federal revenues began falling, they made up 33.9 percent. By contrast, corporate income taxes were 26.4 percent of federal revenues in 1950. By 2007 they had fallen to 14.4 percent. So who has skin in the game?
        inancial sharks typically take their compensation in the form of capital gains rather than salaries, thus knocking down their income-tax rate from 35 percent to 15 percent. But that’s not the only way Mr. Skin-in-the-Game benefits: the 6.2 percent Social Security tax and the 1.45 percent Medicare tax apply only to wages and salaries, not capital gains distributions.

29.08+1.07(+3.82%)3:25 PMEDT