Paying Taxes is Patriotic

[Bobskunk]

...Or so says Joe Biden during the campaign.

However, if you are being appionted to Presidnent Obama's cabinet, paying taxes is optional. I am sure that some of the people in this forum have no problem with tax scofflaws Daschle and Geither, nor with the dozen (and counting) people who were recently lobbyists but are now part of the administration. I know that hiring them is common practice, but promising not to hire them was a bit unusual, and ulitimately dishonest.

What's really amazing is that Daschle is still being considered, especially in light of the witch hunts that he orchestrated against every appointment of President Bush. (look into it. It' pretty bad)

I am curious to know if anyone who supported President Obama is a little concerned over the events of the past couple of weeks. I did not vot for him, so perhaps I cannot be objective, but I can say that I had higher expectations of him. In his defense, these goofballs are not admitting their cheating ways until after they have been chosen. If they were not so self-serving, they could have declined the offers before they became public.

Another issue that concerns me is the stimulus bill and some of the items included in it. When something like this is rushed, a lot of people find the urgent nature of the action a great way to slip in their own bacon.

Seriously, rather than responding with "what about the cost ofBush's war", I would like to know what you all think. I'll agree that we are going to be paying for the war for a long time, but let's separate the issue.

Since I am meandering(sorry) a bit, the recent revelations of Daschle and Geither give me some stress relief as I worry about making an honest mistake in my meager little tax return. Surely, I cannot be expected to do a better job than these people, who can afford to emply professionals. What better evidence do we need to overhaul the IRA and our tax code when half of President Obama's cabinet are either cheats, or incapable of adhering to our tax code. If they are not crooks, then the tax system must be changed for us little people.

 

[scooterbug44]

I (and others) were quite concerned that the guy in charge of the Treasury couldn't figure out his taxes - and said so rather vehemently in threads on that topic.

Anyone who wishes to serve had better pay their taxes and any penalties in full - that goes for ALL elected officials of both parties too!

 

[Lake View Too]

I, too, am very dissappointed with the fact that these two guys were so lax about paying their taxes. I am struggling with whether Obama made a very bad mistake in vetting them. What bothers me more is the recent news that the top 400 richest people in the USA in 2006 made an average of $263,000,000 each, and they paid 17% tax. Something is wrong when the average worker who actually produces something is taxed between 20% to 25% and these people who create and peddle nothing but worthless paper are taxed 17%. When the giant financial institutes can swindle the entire country and then get bailed-out with our hard-earned taxes, it is insanity.

 

[Winnie]

I, too, am very dissappointed with the fact that these two guys were so lax about paying their taxes. I am struggling with whether Obama made a very bad mistake in vetting them. What bothers me more is the recent news that the top 400 richest people in the USA in 2006 made an average of $263,000,000 each, and they paid 17% tax. Something is wrong when the average worker who actually produces something is taxed between 20% to 25% and these people who create and peddle nothing but worthless paper are taxed 17%. When the giant financial institutes can swindle the entire country and then get bailed-out with our hard-earned taxes, it is insanity.

It's all in how you look at it. Much of their income was from capital gains. To me this means they put their money at risk, into the economy to grow business - creating jobs and wealth for many.

This article- Average tax rate drops for wealthiest Americans | Business | Chron.com - Houston Chronicle
after the statistic you site above says:
"The 17.2 percent tax rate in 2006 was the lowest since the IRS began tracking the 400 largest taxpayers in 1992, although the richest 400 Americans paid more tax on an inflation-adjusted basis than any year since 2000."

 

[Miss Kitty]

I, too, am very dissappointed with the fact that these two guys were so lax about paying their taxes. I am struggling with whether Obama made a very bad mistake in vetting them. What bothers me more is the recent news that the top 400 richest people in the USA in 2006 made an average of $263,000,000 each, and they paid 17% tax. Something is wrong when the average worker who actually produces something is taxed between 20% to 25% and these people who create and peddle nothing but worthless paper are taxed 17%. When the giant financial institutes can swindle the entire country and then get bailed-out with our hard-earned taxes, it is insanity.

Isn't this because the top 400 richest people are being taxed on capital gains and not on salaries?

On Mr. Daschle,...how does one not notice they owe the US government, $128,000?

 

[traderx]

...Or so says Joe Biden during the campaign.

However, if you are being appionted to Presidnent Obama's cabinet, paying taxes is optional. I am sure that some of the people in this forum have no problem with tax scofflaws Daschle and Geither, nor with the dozen (and counting) people who were recently lobbyists but are now part of the administration. I know that hiring them is common practice, but promising not to hire them was a bit unusual, and ulitimately dishonest.

What's really amazing is that Daschle is still being considered, especially in light of the witch hunts that he orchestrated against every appointment of President Bush. (look into it. It' pretty bad)

I am curious to know if anyone who supported President Obama is a little concerned over the events of the past couple of weeks. I did not vot for him, so perhaps I cannot be objective, but I can say that I had higher expectations of him. In his defense, these goofballs are not admitting their cheating ways until after they have been chosen. If they were not so self-serving, they could have declined the offers before they became public.

Another issue that concerns me is the stimulus bill and some of the items included in it. When something like this is rushed, a lot of people find the urgent nature of the action a great way to slip in their own bacon.

Seriously, rather than responding with "what about the cost ofBush's war", I would like to know what you all think. I'll agree that we are going to be paying for the war for a long time, but let's separate the issue.

Since I am meandering(sorry) a bit, the recent revelations of Daschle and Geither give me some stress relief as I worry about making an honest mistake in my meager little tax return. Surely, I cannot be expected to do a better job than these people, who can afford to emply professionals. What better evidence do we need to overhaul the IRA and our tax code when half of President Obama's cabinet are either cheats, or incapable of adhering to our tax code. If they are not crooks, then the tax system must be changed for us little people.

But Tommy apologized. In fact, he said he was "deeply" sorry. Isn't that akin to Mommy putting a band-aid on a boo-boo and making it okay?

 

[Lake View Too]

It's all in how you look at it. Much of their income was from capital gains. To me this means they put their money at risk, into the economy to grow business - creating jobs and wealth for many.


I'm trying to get my head around how playing the stock market and creating "derivatives" and "equity swaps" (not super clear on details) is creating jobs. Aren't they simply swapping paper that has only the value they say it's worth.
We are going down the tubes because we don't build anything but paper games. It feels like everybody just let these big banks and Fannie Mae get out of control because they reckoned the US government would bail them out anyway. Opps, they didn't realize the US govt. already owed a trillion dollars.

 

[Lake View Too]

Oops...always proofread your posts.

 

[Winnie]

I'm trying to get my head around how playing the stock market and creating "derivatives" and "equity swaps" (not super clear on details) is creating jobs. Aren't they simply swapping paper that has only the value they say it's worth.
We are going down the tubes because we don't build anything but paper games. It feels like everybody just let these big banks and Fannie Mae get out of control because they reckoned the US government would bail them out anyway. Opps, they didn't realize the US govt. already owed a trillion dollars.

Here is a link to get you started:
Stocks - How Stocks and Stock Investing Affects the US Economy

 

[scooterbug44]

Bobskunk - catch the Daily Show rerun - my generation's news anchor summed it up w/ "pay your pucking taxes" then went on to lamblast him for owing that on his CAR AND DRIVER.