Comments for NYT Gets Taxing the Rich Story Right at http://www.cepr.net , comment 1 to 9 out of 9 comments http://www.cepr.net Sat, 25 May 2013 23:56:58 +0100 FeedCreator 1.7.3 http://www.cepr.net/index.php/blogs/beat-the-press/nyt-gets-taxing-the-rich-story-right#comment-11699 Who pays matching FICA? Who pays the corporate profits tax? Who captures the benefit from the Muni bond exemption? - Floccina Thu, 22 Sep 2011 07:38:51 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/nyt-gets-taxing-the-rich-story-right#comment-11690 Yes Jethro, the case for progressive taxation is a strong one. - Kat Thu, 22 Sep 2011 02:44:57 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/nyt-gets-taxing-the-rich-story-right#comment-11684 Warren Buffett - you can't even be serious about this discussion, can you ? ME: 10% on my $2M is $200,000 and now I am down to $1,800,000 Buffett: 10% on his $40B is $4B and now he is down to $36B Of course he doesn't have a problem with this concept !!!! Any idiot can see this... Get serious and stop talking about the anomalies in society. Buffett is a freakin smurf for crying out loud, a Disney character. He is not living in the real world...... - Jethro Wed, 21 Sep 2011 18:01:53 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/nyt-gets-taxing-the-rich-story-right#comment-11674 @frankenduf But it is not the average person that is defending a regressive tax policy, unless your definition of "average" includes the pundit class. It is time to put the Thomas Frank away. The real mystery to me is not that lower and lower middle income voters have been duped into voting against their best interests, it is that the reasonably comfortable have been duped into believing that they somehow are not working class. My definition of working class is you have to work for a living. Period. You don't have wealth that will support you in a period of protracted employment. No amount of education is going to save you. Unfortunately, "liberal" publications such as the NYT have helped to spread this lie. - Kat Wed, 21 Sep 2011 07:18:23 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/nyt-gets-taxing-the-rich-story-right#comment-11673 Seems like a thoughtful position should be that your taxes on capital gains and dividends should be taxed at the same rate as the rest of your earnings. So the lower income people would pay a lower percentage rate than the rich. - jumpinjezebel Wed, 21 Sep 2011 07:15:06 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/nyt-gets-taxing-the-rich-story-right#comment-11671 [i]"All I’m saying is that those who have done well, including me, should pay our fair share in taxes to contribute to the nation that made our success possible. We shouldn’t get a better deal than ordinary families get."[/i] - Bill H Wed, 21 Sep 2011 06:52:58 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/nyt-gets-taxing-the-rich-story-right#comment-11669 Actually, the highest marginal taxes are paid by middle-class retirees.I am 70 years of age, and am self-employed part time. My AGI is ~$54,000/yr. At that income, I must pay, in addition to my regular tax, a tax on 85% of my SS benefits( for every marginal dollar of income, I pay a tax on $1.85). My total marginal income tax rate is: 25%(regular rate) +21.3%(85% on SS) +12.4%(self-employment tax) +7.5%(state income tax) = 66.2% total marginal income tax rate. - bmz Wed, 21 Sep 2011 06:35:41 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/nyt-gets-taxing-the-rich-story-right#comment-11665 Usually, the media refers to the tax paid as a percentage of "taxable income" as defined in the Internal Revenue Code. But that is not the income received for services or on capital. It is after all kinds of deductions, exemptions, and credits, such as the mortgage interest deduction. The interest deduction a person might have for owning several houses has nothing to do with his "gross income". The actual tax paid as a percentage of gross income would be much less than the media usually refers to. - steve Wed, 21 Sep 2011 05:42:31 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/nyt-gets-taxing-the-rich-story-right#comment-11661 yeah, and how do u explain average people defending a regressive tax system for the rich?- my guess is learned helplessness - frankenduf Wed, 21 Sep 2011 04:06:26 +0100