BF2S Forums How much are taxes going to go up now that the Democrats are in power?

CaptainSpaulding71 wrote:

In post #57, topal63 has a nice graph of how congress spends its money.

how come nobody is harping how much congress is spending in the Health and Human Services department?  Why is that so high?  People continually bash defense which is also high, but all i hear is crickets when HHS is brought up. 

Ditto for Social Security.

my best guess as to why these areas are high is due to cost of living increases, healthcare costs ballooning out of control (in part due to limited tort reforms), and the sheer number of people taking part in these programs (baby boomers, etc).

by the way, don't any new taxes imposed on corporations simply get reflected in the price of their goods and services so the money gets shifted around and i get shafted?

Last edited by KEN-JENNINGS (2007-06-21 15:06:25)

Bertster7 wrote:

Mason4Assassin444 wrote:

By law in America, paying income taxes is voluntary. Look that one up.

Tell that to Wesley Snipes.

topal63 wrote:

I doesn't matter what you believe (that corporations; or big public corp.s; are evil or whatever), crap I am a corporation (a Bushism: actually my business is incorporated, with little or no veil of protection, through my corporate entity), and I am heavily taxed (or rather I am in the highest possible US tax bracket). Technically on a pie chart I fall in the lndividual Income Tax area (being that I own a small business).

http://i14.tinypic.com/4vq26ap.jpg
Your "50% corp. tax responsibility in the 40's" comment does not stand up as a valid criticism of the tax-base. "Back in the 40's," all that means is that back then large corporations accounted for more personal wealth (and more Fed. revenue); and that, now more personal wealth is distributed (in small businesses; like mine).
______________

From: http://www.ustreas.gov/press/releases/js1287.htm (FROM THE OFFICE OF PUBLIC AFFAIRS - April 1, 2004)

Fact Sheet:
Who Pays The Most Individual Income Taxes?

The individual income tax is highly progressive – a small group of higher-income taxpayers pay most of the individual income taxes each year.

    * In 2001, the latest year of available data, the top 5 percent of taxpayers paid more than one-half (53.3 percent) of all individual income taxes, but reported roughly one-third (32.0 percent) of income.

    * The top 1 percent of taxpayers paid 33.9 percent of all individual income taxes in 2001.  This group of taxpayers has paid more than 30 percent of individual income taxes since 1995.  Moreover, since 1990 this group’s tax share has grown faster than their income share. 

    * Taxpayers who rank in the top 50 percent of taxpayers by income pay virtually all individual income taxes.  In all years since 1990, taxpayers in this group have paid over 90 percent of all individual income taxes.  In 2000 and 2001, this group paid over 96 percent of the total.   

    * The President’s tax cuts have shifted a larger share of the individual income taxes paid to higher income taxpayers.  In 2004, when most of the tax cut provisions are fully in effect (e.g., lower tax rates, the $1,000 child credit, marriage penalty relief), the projected tax share for lower-income taxpayers will fall, while the tax share for higher-income taxpayers will rise.   

    * The share of taxes paid by the bottom 50 percent of taxpayers will fall from 4.1 percent to 3.6 percent. 

    * The share of taxes paid by the top 1 percent of taxpayers will rise from 30.5 percent to 32.3 percent.

    * The average tax rate for the bottom 50 percent of taxpayers falls by 16 percent as compared to a 12 percent decline for taxpayers in the top 1 percent.
______________

50% of the public only accounts for between 3 to 4% of all taxes collected. The other 50% is responsible for 96 to 97% of all taxes.

Where that money goes, from: http://www.federalbudget.com/
http://i14.tinypic.com/4pan81u.png

So obviously - it makes little sense to go after the 50% that amounts to 3-4% of the collected tax base. They (the Federal Government) are either going to tax the upper 50% more (or less; as in a tax cut) and/or learn how to spend money in a more efficient way.

CameronPoe wrote:

CaptainSpaulding71 wrote:

tax increases on people making > $200k does not only mean cigar chomping billionaires but small business people, mom&pop stores, your lawn service, etc.  These guys will be impacted so they might not hire a few extra people to work for them, leading to unemployment.  this unemployment leads to need for more unemployment benefits and therefore more taxes.

Cry me a river. Those guys are more interested in employing people in shit poor countries in the back of beyond. Outsourcing FTW.

Harmor wrote:

blisteringsilence wrote:

CameronPoe wrote:

Cry me a river. Those guys are more interested in employing people in shit poor countries in the back of beyond. Outsourcing FTW.

The day you figure out how to outsource my lawn care, let me know. The little bastard down the street charges me $40 to mow and weedeat, once a week.

At least he does a good job.

On the other side, I'd like to find a nice indian to do the same work for $5.

Don't worry, soon you'll have a Roomba-like robot that will mow your lawn once a week automatically - a little doggie door on the side of your house will be where the robot will enter/exit.