Our Federal Income Tax has become way too "progressive." Since retiring two years ago I haven't paid a dime in income tax and in fact have been getting $2,000 back at a child tax credit. All my income is capital gains and dividends taxed at 15% but with all the deductions, no income tax. My income is approximately the same as when I was working, in excess of the social security maximum. I take the standard deduction.

When I was working I was paying around $10,000 a year as well as $8,000 in FICA tax.

How long can this go on? And the Democrats claim the "rich" don't pay enough? How about the upper middle class?

I don't think capital gains or dividends should be taxed more, so in your case I'm fine with it. The child tax credit, in your case is silly, but they need to buy votes anywhere they can.

Frankly, consumption should be taxed and capital investment or earned income shouldn't be.

Phil you must have entered into the bottom 47 percent group. One constantly hears from the democrat...." tax the rich". If one looks at the GAO website, the top 5 percent of the wealthy, already pay a full 70% of all income taxes in America. Do they want them to pay 100 percent of all income taxes??? The bottom 1/2 of Americans (47%) pay no income tax, nothing, zip, nada. America is $15,000.000.000.000.00 in debt, but still, two months ago, the silly government gave the University of Colorado at Boulder,a $850,000.00 grant to study the effects of "global warming" on prairie dogs. Will it ever ever end? - Millet (389 ABO-)

Millet, yes it will end, once we hit the debt crisis we have coming. Not until then, the public does not care to hold our politicians accountable. The only thing that matters is who's team someone plays for.


Just wait until the interest rate on our debt rises, then we are in serious trouble.

http://www.eliminateincumbents.org/

The only way to go in this day & age...

Phil, in reality corporations do not pay taxes. The customers of the corporations wind up paying their taxes. Like all businesses, corporations have to recoup all their costs of doing business, or they will not long survive. When the cost of doing business goes up for corporations, the price of their products, or services is increased, which are payed by the people who use their services, or buy their products. Like everything else, corporate taxes actually falls on whoever is last in the line.- Millet (387 ABO-)

Kill 99% of all foreign aid! Only give it to those countries that stick their necks out for the USA.

Kill 99% of all welfare (entitlements?) and social programs. Only those that are willing to work the jobs we can provide will get a PAYCHECK.

Kill 99% of all grants. Only those that can pass a smell test qualify. If it stinks it doesn't qualify.

Kill 99% of all paroles and probations. Most of them come back quickly anyway! Too many activities and not enough hard labor.

Kill 99% of all tax breaks. Everyone pays taxes!!! It's a bill! It has nothing to do with you having a job. It is your right and priviledge to pay taxes.

I could go on but I'm sure I've riled enough people now.

Happy New Year

AND

make sure you vote next year!

Margaret Thatcher once said that socialism is fine until you run out of others peoples money. Are we there yet? Not quite but when we do arrive, there will be another crises that will dwarf the financial crises of 2008. I think Europe is almost on the brink to financial ruin, but we are not that far behind.

I paid over $22,000 in federal estimated income tax year so far this year and will pay much more next year.

All my life I've heard extremist and some not so extreme speak of a coming civil war in America.

I just never thought the lines would be drawn between those that pay taxes and those that don't?

Mr. Texas excluded of course!

Solution: If you don't pay taxes you don't vote.