Yeah, I'm with you on this. I have relatives that earn in the top 1%
easily and they have basically a second full time job managing shell
corporations and all sorts of other nonsense for no other reason than
to try to hold on to what they've earned.
If you earn a few million a year in this country, you could nearly end
up broke if you just stuck it in the bank and paid on a straight 1040
form. Hell if you top a few hundred k a year you could be in that
situation.
The entire system is a farce, it's pretty much engineered the need for
evasion and fraud.
Somehow penalizing those who earn more shakes the very foundations of
capitalism. It's scary how many people think that is o.k. to do.
On 7/28/06, dfsavgny <[EMAIL PROTECTED]> wrote:
> --- In AsburyPark@yahoogroups.com, Chris <[EMAIL PROTECTED]> wrote:
> >
> > The only fair share with any taxation is a flat percentage. Ask why
> > _that_ is so hard to understand.
> >
> > No breaks, no exceptions, just a plain percentage, nice and fair. You
> > make more, you pay more, it's simple.
> >
> Progressive tax rates do more than that. Higher earners pay at a higher
> rate. $.40 of every dollar I earn goes to income taxes. How much do you
> want? I think the argument is that when sales taxes are considered,
> lower income earners pay a higher percentage of their incomes in total
> taxes because they have to spend a higher percentage of their income on
> essentials. What everyone forgets is the taxes us rich folks pay on
> cigars and champagne. What about the luxury tax on nice cars? Remember
> when the UK had an 85% tax rate? Why earn more if it all goes to taxes?
> Great way to kill an economy. Remember the statistics. the top 50% of
> income earners paid 94% of ALL income taxes in 2003, and 96% in prior
> years. The statistics are similarly one-sided for the upper brackets as
> well. The AMT was devised to catch RICH folks to pay a minimum tax.
> That really went well. Now it catches most middle-income people.
>
>
>
>
>
>
>
> Yahoo! Groups Links
>
>
>
>
>
>
>
Yahoo! Groups Links
<*> To visit your group on the web, go to:
http://groups.yahoo.com/group/AsburyPark/
<*> To unsubscribe from this group, send an email to:
[EMAIL PROTECTED]
<*> Your use of Yahoo! Groups is subject to:
http://docs.yahoo.com/info/terms/
