More class warfare bullsh@t.
LOTS of people don't pay their taxes.
It's just tougher to demagogue a guy making 40k who doesn't cough up his tribute to Caesar.
The people pushing this rhetoric ARE millionaires and billionaires.
They're playing the dumb masses for suckers.
Some Millionaires Not Paying Taxes: Good for Them or Good Grief?
SodaHead News
2011/08/09 20:00:00
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With our economy seemingly on the verge of another major meltdown and the new debt ceiling deal firmly in place with no new revenue-generating tax hikes on the nation's highest earners, you might be curious to know about this little tidbit that ABC News dug up over the weekend.
As it turns out, according to the IRS and ABC News,1,470 American millionaires paid … wait for it … no federal income tax in 2009.
What the..what?!
It seems those folks were able to use a series of deductions, write-offs, subsidies and loopholes, as well as donating to charity, investing in local and state government bonds and making most of their cash overseas.
And while they're only a fraction of the nation's 230,000 millionaires, at a time when we're borrowing nearly 40 cents of every dollar we spend because not enough tax revenue is coming in, every penny adds up.
It's not like those almost 1,500 millionaires didn't pay any taxes, they just didn't pay any to our government because they likely wrote checks to foreign governments from their overseas investments.
They've got plenty of company, as fully 46 percent of American households will not pay federal income taxes this year or receive refunds. But they're off the hook because of low incomes, credits for children and other dependents and exemptions.
As it turns out, according to the IRS and ABC News,1,470 American millionaires paid … wait for it … no federal income tax in 2009.
What the..what?!
It seems those folks were able to use a series of deductions, write-offs, subsidies and loopholes, as well as donating to charity, investing in local and state government bonds and making most of their cash overseas.
And while they're only a fraction of the nation's 230,000 millionaires, at a time when we're borrowing nearly 40 cents of every dollar we spend because not enough tax revenue is coming in, every penny adds up.
It's not like those almost 1,500 millionaires didn't pay any taxes, they just didn't pay any to our government because they likely wrote checks to foreign governments from their overseas investments.
They've got plenty of company, as fully 46 percent of American households will not pay federal income taxes this year or receive refunds. But they're off the hook because of low incomes, credits for children and other dependents and exemptions.
Top Opinion
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abubincrazy 2011/08/09 20:37:09
When will American people take to the streets?
Fairness would be everyone working paying their share.
If they bent their energies to helping America, and Americans: THAT would be NEWS!!
Eliminate monopolies, abolish the patent system.
Many VERY wealthy people pay no income taxes at all because they don't EARN an income. Some of them have inherited wealth, and they invest as explained in the article.
Some have built and sold successful businesses, and are sitting on a pile of cash, NOT income.
Others--like Warren Buffet--recognize very little income in order to avoid high income taxes, but have tremendous investment wealth. They pay taxes at a lower rate on those investments. THEN Warren turns right around and calls for higher income taxes!
Mr. Buffet, your SUCH A F$%^#NG HERO!!