I don't know how many times in the past few hours I've heard the replay of our President trying to sell his deficit reform bill by saying "Middle-class families shouldn't pay higher taxes than millionaires and billionaires," From my 30+ years experience in dealing with tax issues, wealthy clients pay substantially more in taxes than the middle class. I know for certain that many "wealthy" people would be very happy to pay the same taxes as most middle-class families
There are many households with incomes under $50,000 who pay no taxes and even receive bonus refunds (refunds in excess of any taxes they paid). Why is it "fair" that they pay no taxes? It is only "unfair" in the minds of some politicians when "wealthy" people don't. And who defines "fair share" and "wealthy"?
Finally, a report exposing the lies of the President's speech shows up as a top story on a major Internet site today. You can read the article here. The government's own statistics indicate the President doesn't have a clue about tax issues.
Tuesday, September 20, 2011
Tuesday Tirade
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5 comments:
Oh, Catch. Your rant is so f***ked up. I don't know how I'm going to get you straightened out. I think you need to read more "Dreams From My Father," and less "Atlas Shrugged."
Crock: Now, now. No cursing allowed in my comment section. You're just all riled up because I didn't write a Titillating Tuesday post.
That's right. Titillation is always better than tirades.
I copy and paste (BBC Online)...
"A report in this week's Economist newspaper... states that in the four years to 30 June last year, Mr Murdoch's News Corporation and its subsidiaries paid only A$325m (£128m) in corporate taxes worldwide. That translates as 6% of the A$5.4bn consolidated pre-tax profits for the same period.
By comparison another multi-national media empire, Disney, paid 31%.
The corporate tax rates for the three main countries in which News Corp operates - Australia, the United States and the UK - are 36%, 35% and 30% respectively"
Or to change the subject, I think the new profile pic is lovely :D
white: Webcams make self-portraiture easy. None of that one-handed shakey camera for me.
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