I read this in the Star Tribune (local paper) today:

http://www.startribune.com/local/17984759.html

To think that he could have avoided all that grief by working with the IRS.

And he's not the only one.

More on this in the New York Daily News:

http://www.nydailynews.com/news/2008/03/02/2008-03-02_bunch_of_wealthy_deadbeats_owe_new_york_.html

This is from the State of California Franchise Board:

http://www.ftb.ca.gov/individuals/txdlnqnt.shtml

Only the tip of the iceberg.

Did you have to pay taxes this year?

I did.

What do you think of rich people avoiding taxes?

I'm not for anyone cheating on their taxes. If you were rich maybe you could see why they might want to. The government asks for way more from them than from any other segment.

There are reasons for tax laws and those who enforce them. Those who cheat run the risk of being caught and that is a pretty high stakes game considering we are talking about close to 50% of their income. Let'em gamble.

I will continue to vote for those who will lessen my tax burden or more probably against those who promise to increase it.

Let's face it, if it weren't for so many bad government programs and idiotic spending by the dolts in congress we wouldn't need to be taxed so highly. If on our tax paper work there were a spot where we could designate how our money was to be spent I wouldn't have any problem at all. It's giving my money to those who don't deserve it (including the government machine)that steams me the most.

Thank God we don't have to support universal health care with our hard earned money as well.

Are you kidding me?

A lot of them hire tax attorneys to find loopholes in the law so they end up paying nothing or next to nothing.

The 'rich are being overtaxed' argument is absurd.

What percentage of your income do you give to the government to spend on whatever they please? Do you approve of how they spend your money?

What percentage of all US tax revenue comes from the richest 5%?
Still think it's fair? How about the folks in lower brackets? What do they pay?

A consumption tax is the answer. Get rid of the federal income tax (yeah right) and charge taxes based on consumption. Then those who buy plasma TVs with their welfare checks will be paying into the system too (it'd be about time).

I'm not going to defend anyone who buys plasma TVs with their welfare checks. Or anything else stupid like crack.

But here are the facts on taxes:

(From Parade Magazine):

http://www.parade.com/articles/editions/2008/edition_04-13-2008/Intelligence_Report

'A 2004 U.S. Government Accountability Office (GAO) study found that 61% of American corporations, including 39% of large companies, paid no corporate income taxes between 1996 and 2000. Last year, corporations shouldered just 14.4% of the total U.S. tax burden, compared with about 50% in 1940.'

'While companies are getting off easy, thanks to loopholes, ordinary wage earners are getting stuck with the tab.'

You could completely eliminate income taxes for the bottom half of the population, and the Treasury would hardly notice.

Not true for corporations and the wealthy.

And what about the social security and medicare taxes corporations pay for employees.

And what about the taxes that stockholders pay on dividends that have already been taxed. The real total corporate tax is more than just income tax.

Check this opposing view out -

http://money.cnn.com/2008/03/31/news/economy/tax_debate.fortune/index.htm?postversion=2008040211

It warms the cockles of my heart to know that if you were rich you would be different.

Is there anyone else looking at this thread except sympathizers for the rich?

They must all be rich or have been born with silver spoons in their mouths.

According to Warren Buffet, one of the wealthiest men in the country:

'We did an informal office survey by looking at the total tax footprint versus the total income. I earned 46 million and paid a tax rate of 17.5%. My rate was the lowest, the average was 33%, and my cleaning lady paid 40%. The system is tilted towards the rich. The Forbes 400 total net worth has gone from 220 billion to 1.54 trillion, an increase of 7-to-1. You see in legislature that there is lobbying carried on by the powerful over issues such as the estate tax and carried interest for private equity investments. We need to flatten income and payroll taxes, and those making under $30,000 shouldn’t be bothered.'

His statements can be found at:

http://undergroundvalue.blogspot.com/2008/02/notes-from-buffett-meeting-2152008_23.html

Note the statement 'The system is tilted towards the rich.'

Nope, we just aren't trying to convince others of what we would do if we were wealthy. Oddly, most of the wealth in this country belongs to Democrats.

Not sympathizing with the rich just giving credit to what they pay in taxes. The media sites a few good legitimate examples but then applies it across the board.

Nobody should pay taxes.

It's all funny money anyway.

The I.R.S. is just a collection agency for the FED which is a privately owned corporation who is broke. They lost all our money in the stock market.

The money collected in taxes goes to pay for the bankrupt corporation of the United States of America.

The money goes to the Company who owns the Corporation.

There is no money. It's all just debt and paper.

JB

Of course I'd be different. I'd be rich instead of poor!

I'm not a Democrat. Just a poor Independent.

I'm with ya there!

pfft.....i know poor and middle class that cheat on taxes or don't pay at all and get paid under the table


btw....what exactly is a cockle and what warms it???? lol