Taxed too much?

This is what happens when you appease the masses and not solve problems: Obama runs on a platform of soaking the rich instead of deficit reduction. Now that the pres got his tax on Millionaires and Billionaires (yahoo), here is what he has done to us: It will cause a loss of nearly $4 trillion in tax revenues over 10 years – compared to the projected revenues if Congress had simply done nothing and allowed all the Bush tax cuts on the books in 2012 to expire. He ran on a “no gonads” strategy. The 47% feel good but the problem is not solved. The millionaire tax soved nothing. There are not enough of them out there. More tax payers have to pay more.

as a person you are worth more than that......have a great evening.

Munster, i understand your sentiment, but there are people out there that manage and run companies that are worth every penny they receive. believe it or not, it does take a certain acumen to make a business successful. unlike the governemnt that can simply raise taxes, institute fee's and penalties or borrow money to continue their endeavor, businesses must generate sales to not just survive but to grow. the owners of the corporation (stockholders), namely the board of directors usually determine the compensation packages for upper management. frankly, i don't think you or any employee should have a say in what they make. you should be paid what you have negotiated. quite possibly you and others that feel the way you do should (have) invest(ed) in your education and developed the skillset that will make you attractive enough for someone to offer you that kind of compensation package. until then you should accept that you have not attained that worth level pertaining to employment. as

scrappile, thank you for your thoughtful reply. unfortunately, the flat tax could not take into consideration the consumption taxes that you mentioned since we all consume at different levels. it seems to me that income levels have created the great divide for many of our citizens on the left and possibly in the middle and right. you do have a point in suggesting an all encompassing singular tax. i think that many who have enjoyed the relative lack of the financial burden of supporting the government would be astonished at the percentage that they would have to pay to cover past debt as well as the current level of spending. in that scenario, i contend that americans as a whole would demand the end to the pork and wasteful spending...unless we intend to all roll over and allow the legislated confiscation of our property, investments, savings and earnings. free money is as addictive as any drug and unfortunately our politicians are the dealers and the voters the addicted.

Households making between $40,000 and $50,000 will face an average tax increase of $579 in 2013, according to the Tax Policy Center's analysis. Households making between $50,000 and $75,000 will face an average tax increase of $822.

LTS: If you go only flat tax, not flat tax on top of gas taxes, hidden federal taxes, like the one on candy bars. Maybe it would work but the .01 to 1 % of earners will never let this happen.

As far as the 47% of earners who pay no income tax, like Mr. Ron Paul says "That is almost halfway to being constitutional." My point will still focus on a smaller percentage of earners paying income taxes while the govt. grows and grows. And we still elect pseudo "smaller govt." reps like bill johnson, who only see a smaall window of cuts, mostly to those who have no voice or lobbyist. ! example: should Romney pay 15 % on income that comes from our U.S. Navy protecting Iranian oil being shipped to China, so he can get a dividend check? I do not believe so, in fact that should be taxed at pre Reagan rates, just for the sake of decency. Have a Blessed day.

*moment

a bake sale sound pretty appetizing at the monet...great idea!

Munster, good morning. i tend to disagree with you about their motives. but i do agree that they take advantage of the deductions and labeling of income. so it is really a case of "do as i say and not as i do" scenario. bottom line is that unless we get spending under control and begin to actually pay as we go verses the debt sinkhole we have created, all of the class-taxation will do nothing but lead to a permanent poverty class with no incentive for achievement or advancement. that is one reason why i support a flat tax with no deductions as well as pay as we go. when that happens you will see the rampant wasteful and palm-greasing spending subside or a revolution by the taxpayers. you may just become a tea-party suporter then. remember your s.s. and pension money is income and should be subject to taxation. after all it is income!

good morning moderation! please find an answer to your question. "An estimated 201.5 million U.S. citizens age 18 or over will be eligible to vote Nov. 2, although many are not now registered. Of these, about 55 million are registered Republicans. About 72 million registered Democrats." there are 72 million that could give extra, depending on amount, which could put a dent in some of the national spending. it is clear here as well and i hope you have a great year as well as enjoy the warmth of your fireplace.

lts- I bet you are in support of a 'morning after pill' this morning, huh? Also you said recently "if the charitable nature of folks on the left were so great, voluntary giving would put a pretty big dent in the social aspect of our spending excesses". do you have any numbers that makes this clear? Speaking of clear, it is 19, and mostly clear, here. It is time to load the fireplace. have a great 1/2/13

Hello, scrappile- it is good to hear your keyboard.

scrappile, soon the bottom 47% and our children will pick-up the money owed from your described exponential expansion of government. the gratuitous lining of the pockets extends to the less than wealthy as well. with many super-low income folks not only avoiding any taxes but getting a check just for their ability to fill out a 1040-ez form. just for discussion sake, do you support a true flat-tax for all income with no deductions? that would be fair...would it not? btw...did you all hear the clinking sound of the can being kicked down the road?????

The problem with most of the super wealthy and income tax equations is a large percentage of them pay capital gains taxes, plus there are many little gimmicks such as those hedge fund managers only pay 15%, when they should be paying the same as those who are not eligible for the bush installed, "qualified dividends", face it and find it for your self, the top 0.01% of earners pay 40% less of the federal income tax revenues than they did in 2001. since the size and scope of govt. has grown exponentially since that time, just who is picking up the tax burden.... SUCKERS!!!!

$ instead of #.

Taxed too much?

Fiscal Cliff?

Time for Pay Raises?

On December 27, 2012, Obama signed Executive Order 13635.

Executive Order -- Adjustments of Certain Rates of Pay

whitehouse.gov/the-press-office/2012/12/27/executive-order-adjustments-certain-rates-pay

sorry but this is too good. someone making #30,000 a year may be paying more up front but given the average deductions that they are eligible for, they most likely will end up paying less than 5% actual federal income tax, with some getting a refund. take a moment and talk with a local accountant about this. naturally when you add in state and local taxes it will increase. but i assumed you were referring only to federal income taxes. buffet did not mention state or local tax rates.

another thing, warren buffet has played you for a fool. so has bill gates and mark zuckerberg. they are three of the biggest "legal" tax cheats in modern america and yet you and some democrats paint them as tax heroes. do some research about them and they are avoiding and tax sheltering their fortunes now and post-mortem.

munster, you really should reconsider your postion on this subject...especially regarding the french.