They're dumber'n dogshit, and they vote...

report 0 likes, 0 dislikes   like  dislike

Maybe everyone but me has already read this, but I'm just now working my way through David Cay Johnston's Perfectly Legal, an analysis from 2004 of the way the tax system has been rigged to transfer wealth from the middle class to the super rich since the days of St. Ronnie. It's now available on remainder through Amazon.

The tax protesters have been played for fools and used as tools, and they've taken the rest of us along for the ride. The Koch brothers and their zombie army are eating the liver of the goose that would have laid golden eggs for their grandchildren. It is the main economic story of our age, and the "liberal media" has totally failed to tell it.

report 0 likes, 0 dislikes   like  dislike

Paul Krugman and others at the Times tell it and have been telling it for years. The fact is no one listens until it's too late. But Krugman is a self-professed liberal, so doesn't deserve to be heard. You can't blame "the liberal media."

report 0 likes, 0 dislikes   like  dislike

“Almost 900,000 [Arkansas] taxpayers made less than $50,000.”

Good Lord. What a downer on this already cloudy, dreary, Thursday morning. Hopefully, all of us will one day agree that education provides the best opportunity for us to pull ourselves up off the economic floor. Let’s hope the lotto scholarships and other ongoing efforts to improve education in the Natural State will bear fruit.

report 0 likes, 0 dislikes   like  dislike

The failure of this fact to be conveyed to the masses is a complete failure of the media, which really proves the media is not as liberal as conservatives make it out to be.

What is even sadder is that many of those 900,000 Arkansans making
low income will vote Republican because they don't understand how the GOP tax policies affect them. When Repubs say "Dems want to tax you" that is all people hear. I know the thought of more taxes make me mad too. But when the Dems fail to explain what it's tax policies actually mean for the masses then only the Dems can be blamed. That is if you actually believe the Dems are out to help you, or just out to help their own interests.

report 0 likes, 0 dislikes   like  dislike

The failure of this fact to be conveyed to the masses is a complete failure of the media, which really proves the media is not as liberal as conservatives make it out to be.

What is even sadder is that many of those 900,000 Arkansans making low income will vote Republican because they don't understand how the GOP tax policies affect them. When Repubs say "Dems want to tax you" that is all people hear. I know the thought of more taxes make me mad too. But when the Dems fail to explain what each parties' tax policies actually mean for the masses then only the Dems can be blamed.

I'm so sick of the spineless nature of the Dem Party. The one admirable thing about the GOP is that it knows how to play politics. It's message may be lies, but it's message is clear and they don't cower to the Dems.

report 0 likes, 0 dislikes   like  dislike

"I'm so sick of the spineless nature of the Dem Party."

Me, too, bro. Almost to the point of needing to be hospitalized.

report 0 likes, 0 dislikes   like  dislike

I said it yesterday... both major parties need an economic theory reboot more than the worst nut case ever needed a shock treatment and a lobotomy.

Dems and Republicans are all Chicago School disaster capitalists. Their intent and actions have clearly demonstrated this for decades.

In the last few months i have finally joined the prudent ones... purchased 100 mpg transportation, stocked up on fuel, stocked up on bulk foods - wheat corn rice beans - and a grain mill to grind with, including whole hogs and cows.. and have expanded garden capacity as well as built ready to go chicken and rabbit raising capabilities, canned like there is no tomorrow... and yes, i've stocked up on ammo.

This fraudulent house of cards cannot stand at some point and it doesn't seem like any of the PTB even want it too - it's too late to fix the existing criminal enterprise which permeates most everything now before it collapses, imo.... and there will be major interruptions in food, energy and money supply as things sort out.

If I'm wrong I still eat well and help my friends and neighbors do the same (for a while)... despite my meager income.

Folks best get to know their neighbors and make at least a few worst case several month long food plans. Because there is no jobs plan in any political quarter... and a constant printing going on at treasury - diminishing our dollar value at furious rates.

report 0 likes, 0 dislikes   like  dislike

Max,

Go back and check your data. You state that "Arkansans filed 1,223,637 individual tax returns." but the data you linked to says that is the number of total returns which includes joint returns.

Why did you give specific numbers for total taxpayers and those making over $200,000 but gave a rounded figure for those making less than $50,000? The number you should have reported is 885,120, which is almost 15,000 less that the number you gave.

The 885K number includes 237,633 joint returns leaving the majority filing as individuals. In the other classes of returns the great majority of those are joint returns. So, how many of the 647K are made up of students or people only seeking part-time work? We don't know do we. Nor do these numbers include the number of people that are paid under the table or with cash that is never reported.

report 0 likes, 0 dislikes   like  dislike

Let us not forget that the top 1% makes 100% of the decisions for the rest of us. If at the end of this, lower and middle-income taxes don't increase in order to give the rich more tax breaks, color me surprised.

report 0 likes, 0 dislikes   like  dislike

What the Hell,

You're straining for gnats. I used the word "individual" because it's the label on the chart to differentiate these numbers from corporate tax returns. The total number of returns is important because the tax increase is applied to the taxable income reported on a return, not to individuals in all case. Of the 1.2 million returns (which represent far more than 1.2 million earners because many are joint returns from two-income families) only a tiny percentage, probably less than 1 percent, would face a tax increase under the Obama plan. It's true. I rounded off 885,000 to almost 900,000 returns, a figure about 1.7 percent higher just for convenience. Actually, my mistake was saying almost 900,000 taxpayers rather than 900,000 tax returns. The 885,000 returns represent around 1.1 million taxpayers because of joint returns. I'm not sure the relevance in whatever your argument may be that some of those people making less than $50,000 might be making more money than they are reporting. Is that supposed to make me sorry for the handful who might have to pay a marginal rate 2 percent higher on their taxable income of greater than $250,000?

report 0 likes, 0 dislikes   like  dislike

The Anti-Poverty Campaign...this Saturday in Little Rock, Capitol Steps, high noon...be there! We are putting our boots on the ground for Arkansans!

Mauricelm-Lei Millere "If you are concerned for unemployment, insurance, healthcare, and those suffering in the abyss of poverty, hunger, and homelessness, be there to make a difference!"




http://www.facebook.com/#!/event.php?eid=1…

report 0 likes, 0 dislikes   like  dislike

The Democrats need to make it as simple as "If they don't pay, you will have to do so if you want a balanced budget". Make it personal. Every give-away to corporate interests just throws more costs over on individuals. Let's face it, there are only two major tax-paying groups-corporations and individual (whether single, family, or Duggars). If you want to be the big bully in the world, you have to pay for it.

And those TV and newspaper ads the energy company front groups are running are funny if they didn't fool so many FAUX watchers. Most of the big US oil companies pay no US income tax although Exxon made $0.40 on every GALLON of gas they sold. What double taxation?-hell, I would settle for single taxation. The local merchant probably pays more business taxes than all the US oil companies combined. And a major chunk of the Defense budget is being spent to protect world-wide oil interests in the Gulf area which is a gift of the American people to the industry.

report 0 likes, 0 dislikes   like  dislike

here's an idea, let's decrease the size of the bloated government....that ought to save us some money.

report 0 likes, 0 dislikes   like  dislike

Many of those 900,000 Arkansans with less than $50,000 adjusted gross income” (AGI) are truly poor, and perhaps most are, but not all are. An elderly couple with Social Security and pension income in 2009, plus modest investment income, could easily have had more than $50,000 in disposable income with no TAXABLE income or so little (less than $16,700) that it would be taxed at only 10 percent.

On the other hand, one can safely bet that most of those with more than $250,000 AGI will have had smarts enough or a high-priced CPA to enable them to have a lot more disposable income than that. Moreover, the odds are that most income of $250,000 or above will be investment income which, under current rules is taxed at a maximum 15 percent – the same marginal rate as a married couple with TAXABLE income of $67,900 or less.

I would suggest that the Democrats push for unearned income and income from investments to be taxed at the same rate as income from wages and salaries and that “wash sale” rules apply to any investment property sold at a loss and then repurchased before the end of the tax year.

report 0 likes, 0 dislikes   like  dislike

Maybe they could make the 20,000 who pay taxes sit inside the newly renovated War Memorial Stadium while the other 1.2 million can sit outside and dictate policy.

That basic concept has brought prosperity to Pine Bluff.

report 0 likes, 0 dislikes   like  dislike

A question for Max or anybody else that knows: Would the tax hike on capital gains and dividends hit us all, or just those above the $250,000 threshold?

report 0 likes, 0 dislikes   like  dislike

Max: Would the tax hike on dividends and capital gains apply to all income levels or just those above the $250,000 threshold?

report 0 likes, 0 dislikes   like  dislike

Sorry for the double post. Good thing there's no tax on ineptitude.

report 0 likes, 0 dislikes   like  dislike

"(4) Cut domestic spending. Yes, it's painful... but we've over-promised. Let's not be third-graders about this and shake our heads with eyes closed repeating "there's no deficit problem, there's no deficit problem!

The end result? Still lower taxes and a balanced budget. If Bill Clinton and Newt Gingrich can do it, anybody can."


EXCEPT when Bill Clinton and the Disgraced Former Speaker of the House Newt Gingrich did it taxes were at the level they will be if the cuts are allowed to expire on the top income earners in this county.

and your #4?
Really?
Worry about deficits but don't worry about the cost of extending the tax cuts for the top income earners in this country?
How does that work?
The Rs would have us believe that only spending for the 95% of us who do not earn over $250,00 causes deficits.

report 0 likes, 0 dislikes   like  dislike

Clearly the axe-handle comment of the day:

>>Nor do these numbers include the number of people that are paid under the table or with cash that is never reported.<<

Perhaps the author of this low-reaching statement can provide us with info on the people who are off the records.

report 0 likes, 0 dislikes   like  dislike

Here's a reality check for you:
(1) Cut everyone's taxes.
They did.
(2) END THE WARS
By definition, there is no war.
(3) Stop the bailouts.
They stopped the Bush bailouts.
(4) Cut domestic spending.
The only actual proposal here; fire the policeman, fireman, medical people & teachers.


“The biases the media has are much bigger than conservative or liberal. They're about getting ratings, about making money, about doing stories that are easy to cover.”
Al Franken

report 0 likes, 0 dislikes   like  dislike

Yes, unearned income like capital gains should be taxed at the same rate as earned income.

The current system is just another way for people who inherit wealth to pay less in taxes than the working man and woman. That's some trickle-down economics for you.

report 0 likes, 0 dislikes   like  dislike

I suggest we try trickle up economics for a while. We have decades of proof trickle down doesn't work.

It just makes uber-wealthy feel entitled to tax shelters.

report 0 likes, 0 dislikes   like  dislike

"Yes, unearned income like capital gains should be taxed at the same rate as earned income.
The current system is just another way for people who inherit wealth to pay less in taxes than the working man and woman. That's some trickle-down economics for you."

Or Roland, it could be a working man like me who earned money, paid taxes on it, and saved and invested that money. Tax it like income and you take away any incentive to risk it, and thus put it to work for the greater economy.

You don't hurt the rich guys you hate so much. You hurt the working stiffs and retirees who live on fixed incomes.

report 0 likes, 0 dislikes   like  dislike

Scrapper,

Economics 101- class in session.

I have NEVER heard someone say "I got a tax break, I am going to hire someone".

Demand for products is the only thing that causes hiring.

And "for the greater economy" is absolute total BS. "Cut me a tax break and I will do generous things" is the little scam the economic Elites have been claiming for decades.

Admit it up front and quit claiming some "noble intent", as the Queen of Mean Leona Helmsly was quoted and never denied. "Paying taxes is for little people".

report 0 likes, 0 dislikes   like  dislike

Citizen: Reading 101-class in session.

No where did I claim a tax break is going to result in someone being hired, nor did I make any reference to doing generous things.

But yes, more money in my pocket means I have more to spend and thus that helps the economy. Last time I checked, this is the same reason Obama has floated stimulus packages. And money I invest in stocks helps companies raise capital which in turn helps the economy. At least that's what I learned in economics.

And since you're so schooled on the subject, maybe you can answer the question I posed earlier: Will a tax hike on dividends and capital gains hit everyone, or just those who make more than $250,000? If it's the former, then to claim this is just a tax on the rich is a bullshit lie.

report 0 likes, 0 dislikes   like  dislike