That rate is based on capital gains and loop holes with stock shares. Rather than paying payroll and income taxes, most of those higher ups are paid in stocks/benefits. I read a paper about the specifics, but there are some loops with stock benefits and cashing out and all that bring the effective tax down to 15% or so.
Buffet Tax is just a gimmick to appeal to the masses. Even Bill Clinton agrees that it won't solve anything. Only a fool would think that it would. What I want to know is...It's been all about those whose total family income is $250,000.00 or more up until now. Are they sneaking that little tidbit through while our attention is elsewhere?
I paid more last year than I've ever paid in my life. The only thing that changed was one of my sons was 17 in 2010 so we no longer qualified for the child tax credit on him. THAT was a huge hit since it's a credit that comes off the end of your return. I am not looking forward to paying 2012 taxes when my other boy will be 17.
I paid more last year than I've ever paid in my life. The only thing that changed was one of my sons was 17 in 2010 so we no longer qualified for the child tax credit on him. THAT was a huge hit since it's a credit that comes off the end of your return. I am not looking forward to paying 2012 taxes when my other boy will be 17.
i had done my homework over the years and had my taxes break even, or come close, for almost ten years. the tax codes have changed so fast,that i've owed over a thousand every year since obama took office. that was with me withholding more to try and compensate! isn't he the jerk-off that keeps saying we need to simplify the tax codes?
Simple fix. Adopt the Fair Tax and elect Newt.
I LOL every time I hear these polls about who is a millionare.
I'm guessing some don't know the definition of net worth, and actual salary for the year?
I'm guessing some don't know the definition of net worth, and actual salary for the year?
Newt is nothing but a lib, career politician in conservatives clothing.
The new voting public with all the info online can see through him..........
He knows his constitution historical facts, but his past voting record does not reflect this.
I'm good with the fair tax
I pay a helluva lot more than 15%.... and my CPA says there's next to no real way to lower my tax liability other than contributing to my SEP IRA and making charitable deductions.
But I guess I'm evil and need to pay more to the .gov....
But I guess I'm evil and need to pay more to the .gov....
...where there are two or more gathered in my name...
You should max your SEP out every year as soon as possible.
Yep, but its only a small dent.
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