math problem,don't remember how to do percent - Page 2 - PeachParts Mercedes-Benz Forum

Autoputzer · #1 12-02-2019, 08:30 AM

Quote:

Originally Posted by Mxfrank

You know, I bet Buffet included SS and medicare when he calculated his own tax rate. So I'm sure it's apples and apples.

There was no "trump tax cut" for mere mortals. For the commoners all that happened was their withholding was repacked into their weekly paychecks. Biggest raise they every got. So sad.

The effective tax rates calculated by the Berkeley study are reasonably accurate. If you want to be as stupid as Forbes or the conservative think tanks, you can observe that the study didn't reflect earned income credit. We should probably check into popular billionaire hardship perks like carried interest, and see if those were included. If we keep following those kinds of tangents, we'll never have to discuss the thorny problem of rapacious wealth accumulation.

OASDI and Medicare are technically mandatory insurance premiums, not income taxes, and they're levied only on earned income. Almost all of Buffet's income is "unearned." He does pay himself a salary of about $100k/year, which he pays OASDI and Medicare taxes on. Buffet pays roughly the same OASDI and Medicare premiums as his secretary, and he receives roughly the same OASDI and Medicare benefits as his secretary. That seams roughly fair to me.

Wealth accumulation is not a "thorny problem," unless you're a militant socialist who wants a nation of peasants who are dependent on government for their survival, and therefore grateful for and obedient to said government.

oldsinner111 · #2 12-02-2019, 10:09 AM

another way

Capt. Mike · #3 12-02-2019, 12:05 PM

Quote:

Originally Posted by Autoputzer

OASDI and Medicare are technically mandatory insurance premiums, not income taxes, and they're levied only on earned income. Almost all of Buffet's income is "unearned." He does pay himself a salary of about $100k/year, which he pays OASDI and Medicare taxes on. Buffet pays roughly the same OASDI and Medicare premiums as his secretary, and he receives roughly the same OASDI and Medicare benefits as his secretary. That seams roughly fair to me.

Wealth accumulation is not a "thorny problem," unless you're a militant socialist who wants a nation of peasants who are dependent on government for their survival, and therefore grateful for and obedient to said government.

Pretty sure it is a tax. I bet somewhere along the line the SCOTUS said so too.

It works like a tax, the Congress can change the tax rate and the payments whenever they want, it is a tax. It is a payroll tax, not a sales tax, not an income tax, not an excise tax, but it is a tax.

Everybody calls it a tax.

Air&Road · #4 12-02-2019, 05:35 AM

And yet still, those 10%ers provide 70% of the countries tax revenues. Bunch of slackers!

Get your head out folks. They’re carrying you. Not only are they providing the vast majority of the tax revenue, but those are the folks making jobs. I’ve never seen a poor guy make jobs for anyone.