Tax cuts. Do liberals understand?

Question

So, apparently, those evil Republicans only favor the rich. So, lets do some math. If a male, like myself, making 30k get a 1,000 dollar tax cut. And, a person making 30 million gets a 100,000 tax cut? Who made out better?

Answer: Surprise: me.

I got to keep 1/30 of my earnings. The rich guy, got to keep 1/300 of his. Tax cuts always seem to favor the rich, when in all actuality those who earn less keep more of what they earn.

Is this such a hard concept to understand? Or is math simply ignored?

Answer 1

Math is ignored.  Liberals tend to react more emotionally.  

Answer 2

Typical repig stupidity.They used to claim tax cuts created jobs,you don't hear that anymore.And if you make 30,000 you don't pay income tax.No wonder your a repig.

Answer 3

Can you please tell us which specific tax proposal from the Republican ticket would give the ratios you quoted here?

Beacause I have a feeling that in the real world tax does not work quite so simplistically

Answer 4

You're just like those people talking about how poor Oil Companies are because they only make a 5% profit.... of 100s of Billions of dollars.

Money is money. Percents have nothing to do with it. THe rich person made out better because he can buy a mansion anywhere in the world with his 29.9 Million dollars. You're barely paying your bills.  

Answer 5

The simply facts are that the same percentage 1/30 of some people's income is a lot more than 1/30 of certain other people's income.

Take away 1/30 of some people's income and they will never notice it.  Take away 1/30 of the income of others and they are facing starvation.

That is the mathematics of reality and real life.

Answer 6

Until you get sick and your insurance company won't help you...then your fucked!

Answer 7

  Who do you think will need the money to pay necesarry bills such as food, gas, housing? If I was making 30 million I would understand that it was my duty as a good human to help my country by paying more taxes. How do you think we are going to pay back all our national debt caused by this war on terror? We all need to help pay for the streets, police, firemen, our military.

The corporations have many loop holes that allow them not to pay taxes or they get tax exclusions and tax credits. It makes them look like they had higer profit when they report their earnings.

The rich and the poor pay almost the same amount of SS tax.  

Answer 8

under Obama

If you earn under $250,000 you'll get a tax cut

If you earn over $250,000 there's a tax rise

only one gets a tax cut.

Answer 9

If only the math were that favorable for the Republicans then I would agree with you.

Answer 10

Meanwhile, they cut the Paris Hilton tax (that's the tax on inheritance that ONLY affected inheritances over $3 million) and capital gains tax (tax ONLY made by people who HAD capital gains, which are the wealthy land owners) as well as creating corporate loopholes so that the top 1% got tax cuts that NONE of us received.

The tax cuts are paid for by cutting funding to programs that most middle class and poor use (public education, special ed. programs, transportation, etc.) and by cutting funding to the states (forcing states to increase the state taxes.)

And that doesn't even take into consideration the enormous increased in interest-laden debt that has been incurred -- they call charging up the nation's debt on the nation's credit cards, where those making the interest are in communist china, fiscal responsibility?  In that sense, the conservatives are actually less fiscally conservative than the most liberal of liberals!

Your made up hypothetical has no bearing in the real world -- where most of the income of the rich (capital gains, for example) doesn't even count as income and is completely untaxed.

Everyone MUST read "The Lawyer and the Waitress," a one-act play by Al Franken, who CLEARLY explains the REAL truth about the Bush tax cuts.

Another poster wrote:  "1.The TOP 10% of all taxpayers (the "rich") pay 80% OF ALL TAXES"

My reply:  But they TOOK IN more than 95% of ALL INCOME, and ALL OF IT, on the hard work of other people.

Answer 11

The problem is the guy making 30 million got a heck of a lot bigger tax cut than 100k.

Answer 12

Yes...I understand math, quite well, in fact.

Let's use your numbers:

You make 30,000 dollars: Filing single, you currently pay just over 4,000 dollars

Rich guy: Makes 30 mil, currently he would pay 10,000,000 of that.

Here's the problem you are running into...30 million in income would have to be a corporation, not an individual.  And according to CTJ, who analyze tax policies better then anyone, current Democratic Presidential nominee Barack Obama's tax plan does not raise taxes on wealthy individuals, only corporations (who, in the tax system, are viewed as a person).  How many people REALLY make over 603,000 dollars individually?  Not very many...even two rich couples will rarely pull that in.  

According to this (http://www.washingtonpost.com/wp-dyn/con... Obama is actually planning to lower the taxes for individuals up to 603,000 dollars.  

  

Answer 13

That's actually very easy for me to understand.  Is that a real tax sitution or are you just making up random nonsense to insult people?

I can show you a real tax situation where Warren Buffett pays a 17% marginal tax rate and his secretary pays a 30% marginal tax rate. THAT my friend is reality and it's backwards.

You also seem to need a lesson in marginal utility.

Answer 14

Oh man I love reading this. Same old liberal garbage. Liberals always say that we will be getting tax cuts throughout the campaign and when they get to office, BAM, you ask them about it and they give you the I really cannot believe you believed me look. And Republicans only favor the rich? Wow someone really needs a history lesson. Trickle down economics works. Cut taxes on the rich, more jobs open up because the money they are saving by not spending in taxes they can spend on employees. Tax the rich to death, and they take it out on everybody else. They own the businesses, they pay the employees. Over taxation, means pay cuts or layoffs for employees and the cost of their services goes up and that of course is a proven fact. So look at it this way, go with Obama's plan, his "promised" tax cuts for the middle class and his insanely high taxes on the rich. When all the goods you buy daily go up you can apply that tax cut you received to that. Either way the rich will get their money back, after hundreds if not thousand jobs are lost, which then means higher taxes on you because all those tax payers are now gone. That really makes a lot of sense. As a small business owner, Obama's plan would be death of me, so he can take his plan and shove it because he will not have my vote. I live in a very liberal state anyways and taxes are way to high as it is. I wish that they only took 37% of my paycheck in taxes. My total taxes are in the area of 50%.  

Answer 15

remember:  you don't tax a government into prosperity.  

The dems problem is that people earning <-$20K> [ie on govt handouts] look around an wonder where THEIR $1000 tax cut is.  So, in order to have these folks not feel bad, congress pushes through a provision that, even if you are a sucking drain on the economy and resources, you too should get  $1000.

How about a tax on consumption, not income?  Flat sales tax, no income tax.  If you make it and don't spend it, you keep it.  novel concept.

Answer 16

You are missing the point completely. The rich guy can afford to pay more in taxes because he earns substantially more. You also forget that we wouldn't have a problem if the rich paid more to their employees. Why? Because they can. If you are only making $30K then how do you survive just with the daily cost of living? Food, roof, clothes, healthcare, etc. That is nothing where I live. In fact if you make $100K a year then you are not rich and you are just barely in the middle class. That's how high the cost of living has become. No one likes to pay taxes but it's a necessity. The rich have their hands out to the government in many ways. $100,000,000 has been paid to the DNC and RNC. Who really paid that money? The answer is us as consumers. The market is not free. If it was then maybe this wouldn't be such a big deal. Trickle down economics has been proven not to work time and again. The facts are out there and your side doesn't have them.

edit: There are many problems. It may be right that you cannot tax a people or business into prosperity unless that money being taxed is being used to benefit them all. It depends on how the tax money is being used. That's the difference. Sending money to Iraq and other countries is not a wise use of our limited funds. A lot of the money we send overseas goes for our many military bases. The car companies in Detroit want help from the government. Who pays for that? It's just not that simple. It's why we democrats get accused of being elitists when we aren't. We just have the ability to think at a higher level because we take time to make the connections. You can do it too.

edit: To me, it seems 50% or more of my income goes to paying taxes and I make under $50,000 a year. I just finished my MBA.

edit: According to the analysis reports I have found, we will do better under Obama than McCain. I think the economy will rebound on Obama. Sometimes we have to go against the grain of what we think. It's counter intuitive. That's what I've seen and I come from a liberal state. It's also a prosperous state, for some. It has changed a bit and we have lost the middle class. Foreclosures are very high here. It affects everyone, renters and homeowners.

edit: The rich have many ways to hide their income and assets. You have no idea obviously. They are protected. It's an obstacle. They can hire accountants and lawyers to help them pay as little of taxes as possible. It's something to consider.

edit: Have you  missed all of the new luxuries such as the $25,000 dessert or dinner for $250,000? It's ridiculous. When is enough enough? Condos in New York going for at least $2.5 million. It's insane.

Answer 17

I understand it very well, The infrastructure of the country is in shams and we owe money to China, the war is raising the level of the deficit. My question to you is how are we going to pay for all that and lower taxes. Bush senior as I remember said "Read my lips no more taxes" that obviously was a lie.

Answer 18

Dude - Obama is the one who wants to give the person making $30K a tax cut. McCain doesn't. He wants to give the $30 million guy a $5 million tax cut.

Answer 19

And how much were they paying BEFORE the tax cut ? Was it the case that you were paying more on the dollar in taxes on that 30K than the guy making 30 million was ? The answer is yes.

Yet another way to look at is BEFORE the tax cut  the 1000K was 1/30 of your earnings, the guy that had 30 million was paying 100,000,  that was only 1/300 of his earnings.

Get it ?????? Didn't think so. Leave the thinking to the liberals in the future O.K. ?

Answer 20

Why give that $100,000 tax cut to a billionaire that doesn't need it?  When instead, you could either use that money to give 100 more people at a lower income that extra $1,000 they could really use to buy more groceries and things they really need.

Or why not use it to pay off the trillions in debt that Bush racked up while in office.  Bush used his tax cut mentality and racked up more debt between that and his Iraq War than all of the previous US presidents COMBINED.  And didn't Bush state at the beginning of his presidency that he would balance the budget, make the economy better, and the tax cuts would result in more money coming in thus reducing the deficit?  Let's see what really happened:

The federal deficit is the largest it's ever been.  Clinton's balanced budget Bush took and put the US WAY in the red.  And guess what, our good economy under Clinton is now in shambles under Bush.

It's nice to receive tax cuts, but at some point you have to pay the bills and not just keep on handing out money.  The bigger that federal deficit gets, the more interest it racks up, just like a credit card account.  Sooner or later it has to get paid.  Right now, people like Bush and McCain keep passing the bill to the next generation.  That next generation is mine and I don't want to have to work until I die to pay for the bad spending habits of McCain, Bush Jr, Bush Sr., and Reagan.

We need someone back in the presidency that can balance the budget like Clinton did.

Under McCain, the top 1% would get more money back than the the other 99% combined would.

Answer 21

Ummm, how much does a 30K income actually pay in taxes?

IT AIN'T MUCH  

Answer 22

Obama would be removing the Bush capital gains tax cuts which are essentially only paid by the wealthy.

Answer 23

Liberals despise individual prosperity, private property ownership, and the family. Private property and individual wealth is integral to individualism, and the enemy of the liberal. Liberals believe that wealth is static - anyone who makes money must be stealing it from someone else. Liberals dream of a return to a centralized, 1940's urban environment. We all ride the bus from a small, dirty, big city apartment to an 8-5 union job. Yet, the liberal typically chooses a career which produces nothing of value - lawyer, bureaucrat, "activist", etc. - and uses government to extract the wealth of others.

Answer 24

obama is giving tax cuts on the middle class. keeping taxes on the elite rich.

Answer 25

It is when Liberals Dont take the time to really know what they are talking about instead of just repeating what they hear.

Answer 26

First of all, your argument makes no sense at all.  Why would a poor person get a 1,000 dollar tax cut, or 1/30 of his income, and the wealthy only get a 1/300 tax cut?  Its like comparing apples and oranges.

However, I get the ignorant argument youre badly making, and that is that the gross DOLLAR amount that the wealthy get is more, and that the middle class benefit more at a lower DOLLAR amount.

Good thing the only entity making that argument EVER, is the straw man the right wing creates.   Every one else, including liberals, uses percentages.    

Why dont you read the book "Perfectly Legal" by David Cay Johnston, it will open your eyes as to how rich people routinely drop their taxable incomes below average working men, and how they hide it.

Edit- Steel, most of what you claim is fact is completely contrary to actual fact.  Stop perpetuating your propaganic lies until you actually have any kind of data to back yourself up.