Who Pays What Taxes In The US

[BSAM]

"Fair share" = the least amount of money it takes to run a government divided by a consumption tax on anyone who buys anything.

 

[Lucrum]

Quote from bigarrow:

How much did Romney pay in social security tax last year, might be part of the problem.

How much did your Mexican roofers pay last year?

 

[bigarrow]

Quote from wildchild:

Mitt Romney paid $3 million in taxes and gave $3 million to charity last year.

How much did you pay?

I am guessing that you didn't pay your fair share.

CallIng the Morman church a charity is a bastardation of the word.
Percentage wise I paid my fair share more than Romney did. My next dollar shouldn't be taxed more than Romneys next dollar. Checkmate.

 

[bigarrow]

Quote from Lucrum:

How much did your Mexican roofers pay last year?

Probably more than you did cowboy.

 

[Yannis]

Quote from bigarrow:

CallIng the Morman church a charity is a bastardation of the word...

Better than giving the money to Obama to hand it to his buddies like Solyndra and the labor unions.

 

[Yannis]

Quote from bigarrow:

...Percentage wise I paid my fair share more than Romney did...

Not true. Do the accounting correctly, put things in their right columns. Otherwise, it's a lie.

 

[bigarrow]

Quote from Yannis:

Not true. Do the accounting correctly, put things in their right columns. Otherwise, it's a lie.

I know what you're talking about and you get my point also Yannis.

 

[Lucrum]

Quote from bigarrow:

Probably more than you did cowboy.

LOL you pay your Mexican roofers six figures?

 

[Yannis]

Quote from bigarrow:

I know what you're talking about and you get my point also Yannis.

It's not just theoretical or ideological: if we abolish or restrict the capital gains tax, investment will plummet and people's pensions/savings will suffer big losses. Not to mention unemployment going up because hiring will be stifled as companies will have a harder time raising money to expand. We need a globally competitive (ie, lower, at least at the marginal side) tax structure or else we will continue to bleed jobs abroad.

 

[Navin Johnson]

Quote from bigarrow:

You pay a higher rate also. The SS is about 15% just to start. So practically all working Americans pay a higher percentage of their income than Romney.
Sorry to muddle the conversation with numbers.

Employees usually pay 50% of the FICA taxes. Employers pay the other 50%. I say usually because the last two years, with the temporary payroll tax reduction, employees have paid 5.65% in FICA taxes (4.2% for Social Security, and 1.45% for Medicare). There is an income limit ($110,100) on the Social Security tax because there is also a benefit limit. There is no wage limit on the Medicare tax.