rumpelstiltskin: I don't get the idea that this guy is complaining so much about his tax burden

In fact he asks why should people who make more than he does pay so much less than he does. He doesn't mind his taxes, just wonders why those who earn even more than he does pay so much less.

We'll all have a tax rate of 102% if Fartbama gets his way.

Translation - WHAAAAAAAAAAAAAAAA

/ tough shiat one percenter

EnviroDude: Give Obama 4 more years and we will all pay 102%, unless you are a Wall Street executive or a democrat congressman.

xl5150: We'll all have a tax rate of 102% if Fartbama gets his way.

I see you both got the memo.

Cubansaltyballs: EnviroDude: Give Obama 4 more years and we will all pay 102%, unless you are a Wall Street executive or a democrat congressman.


LoL

That's shocking. I thought he was going to raise all our taxes so he could pay his brown-shirts over at Acorn to seize all our guns and euthanize our grandparents?

Since none of that happened, that must mean it's only a matter of time, right?

No. Actually all of that has already happened but you are not aware it happened cause you don't watch Fox news.

Cubansaltyballs: Since none of that happened, that must mean it's only a matter of time, right?

He's lulling us into a false sense of security!

dahmers love zombie: Fark. Thirty goddamn seconds.

If you were as succinct as Bob16, you could have beaten him.

I pay precisely 100% of my taxes in taxes.

SOCAILISMM!!1!!!

By: James B. Stewart The New York Times

When will the liberal media stop with its liberal propaganda trying to force its liberal agenda down our throats?

Candygram4Mongo: what_now: Yet Mr. Ross told me that he paid 102 percent of his taxable income in federal, state, and local taxes for 2010.

If I told you I had a unicorn would you write a story about it?

Sometimes, if the answer to a question makes no sense at all, it may be that you are asking the wrong question.

A better question: what percentage of Mr. Ross' total income is considered taxable?

This. Mr Ross is either an attention whore or a moron. If he felt he really had a valid point to make he'd let us know his income and tax burden in dollars.

Arkanaut: EnviroDude: Give Obama 4 more years and we will all pay 102%, unless you are a Wall Street executive or a democrat congressman.

xl5150: We'll all have a tax rate of 102% if Fartbama gets his way.

I see you both got the memo.

Memos aren't necessary. Just listen to Obama biatch and you'll see that he doesn't want to reduce your tax rate to Romney's level, he wants to jack Romney's up to yours. What passes Obama's "fair" test isn't bring tax rates to reasonable levels for everyone, it's that everyone is bleeding from the ass.

Barfmaker: That doesn't mean Mr. Ross pays more in taxes than he earns. His total tax as a percentage of his adjusted gross income was 20 percent, which is much lower than mine.

In other words, this article is about nothing.

And we're done. Rich guy with a lot of deductions plays semantic games while downplaying the fact that he pays a hell of a lot less, as a percentage of income, than the average schmoe - and then whines about it.

Fark him. Start cutting off the financial legedemain schmucks like this use to claim "BIG GUVMINT TAKES ALL ME MONIES!" while they squirrel away vast sums that the government can't touch, and we'll all be better off.

I read this story yesterday. It was full of journalist math, but here's how I understood it:

I made $1,000,000, and I had $700,000 in deductions.
But they were deductions that aren't allowed.
My tax bill was $306,000.
Socialism!!!

jjorsett: Memos aren't necessary. Just listen to Obama biatch and you'll see that he doesn't want to reduce your tax rate to Romney's level, he wants to jack Romney's up to yours. What passes Obama's "fair" test isn't bring tax rates to reasonable levels for everyone, it's that everyone is bleeding from the ass.

Federal taxes are at their lowest in decades. Especially for the wealthy.

I know AM radio and FOX haven't let you know.

But if you don't believe it, go find us some facts to prove otherwise.

jjorsett: Arkanaut: EnviroDude: Give Obama 4 more years and we will all pay 102%, unless you are a Wall Street executive or a democrat congressman.

xl5150: We'll all have a tax rate of 102% if Fartbama gets his way.

I see you both got the memo.

Memos aren't necessary. Just listen to Obama biatch and you'll see that he doesn't want to reduce your tax rate to Romney's level, he wants to jack Romney's up to yours. What passes Obama's "fair" test isn't bring tax rates to reasonable levels for everyone, it's that everyone is bleeding from the ass.

Someone sounds butthurt.

Can someone in the 1% really be described as having a financial "plight?"

Cubansaltyballs: what_now: If I told you I had a unicorn would you write a story about it?

I got a blowjob from Jennifer Anniston and Rachel McAdams last night.

at the same time or seperately?

I like how he added the charities he donated to.
/aww i feel bad for him

Red Shirt Blues: If you scroll down to the second table labeled "Effective Individual Income Tax Rate" you'll see it hasn't changed all that much.

Your "Tax Policy Center" appears to be full of shiat.

Top marginal rate 1979: 60%
Top marginal rate 2007: 35%

Capital gains rate 1979: 28%
Capital gains rate 2007: 15%.

And the "Tax Policy Center" says
Effective Federal Tax rate 1979: 27.5%
Effective Federal Tax rate 2007: 25.1%

Explain

jbuist: what do you need explained? The effective tax rate hasn't change much since 1979 and 2007

Explain how you can slash tax rates on income and capital gains and not lower the "effective tax rate".

I know conservatives are resistant to facts, but jeez, seriously. This is math.

jbuist: Reduce the allowed deductions.

Which allowed deductions were reduced?

jbuist: Or if the upper marginal rate only affects a very small portion of the population it won't have much change on the overall effective tax rate.

We're not talking about the overall rate. I specified the top rates.

You're guessing and grasping for straws.

jbuist: You seem to feel as though the top marginal rate has a drastic impact on the actual effective rate.

If it does not, please explain.

As I said to another apologist "We're not talking about the overall rate. I specified the top rates."

jaytkay: jbuist: what do you need explained? The effective tax rate hasn't change much since 1979 and 2007

Explain how you can slash tax rates on income and capital gains and not lower the "effective tax rate".

I know conservatives are resistant to facts, but jeez, seriously. This is math.

No chicanery here. It works like this: (Note that this is vastly simplified)

For both time periods, marginal tax rate = Total AGI / Total tax (MFT 30)

In 2007, your taxable income is AGI - mortgage interest - medical bills over 7.5% - charity up to 10% - miscellaneous crap over 2.5%, and the tax is assessed on that income amount according to the 2007 rate schedule.

Back in 1979, taxable income was AGI - everything mentioned above and - a whole bunch of other crap that was available to people with financial planning resources. Tax was assessed on this lower number at higher rates.

The changes to the IRC that occurred in the Reagan era lowered the bracket rates while eliminating many targeted deductions., causing the total taxable income to rise.

TL;DR: 60% != 35%, but 60%(52.5%) == 35%(90%)

That said, this whole mess is a result of the ongoing attempt to use the tax code as an instrument of social policy rather than a means of generating revenue. It may be an adjust to the taxing of income rather than a transaction based model, but I'm not going to stake a claim there.

How does this guy get by on -2% income? Quite well, it turns out.

GoodyearPimp: How does this guy get by on -2% income? Quite well, it turns out.

Of course if you bothered to RTFA you'd know he gets by on 80% income. Hint: never trust a Fark headline.

Sounds like someone is bad at math. According to their math I can add up the % I paid to the feds, state, and other incomes. Even with the little bit I make I bet it'd be a really high %.

But, rich farkers pay a ton of taxes. Super rich 1% farkers pay a ton of taxes on paper, not so much in reality.

jbuist: The effective tax rate hasn't change much since 1979 and 2007.

2.4% is kind of a lot, actually.