• People who chose to pay no income tax.

    From BOB KLAHN@1:123/140 to ALL on Mon Apr 14 05:52:20 2014

    A column by Paul Krugman added a bit more to the non-taxpayer
    theme of the republicans. As you may recall, Mitt Romney made a
    big deal about 47% of Americans paying no taxes. Which was a lie
    to begin with, but that's another matter.

    However, that figure included those who don't hold jobs so they
    don't have to pay income taxes, including those retired on
    social security with low incomes. Then there are those like
    military personnel in the war zone, but a lot of them will start
    paying income taxes under republican rules if they get passed,
    as only those in combat units will be exempted.

    I knew Paul Ryan wanted to reduce taxes for the rich, including
    eliminating the estate tax. What I hadn't known is, Paul Ryans
    tax plan included eliminating capital gains taxes, and taxes on
    dividends. Since the very rich seldom are very rich because of
    earned income, those changes could lead to the .1% becomeing
    part of those paying no federal taxes on their incomes.

    Now right wingers like to tout the rich as paying most of the
    income taxes, yet Paul Ryan wanted to wipe out all taxes on
    income for the very rich. Even those who hold positions as
    executives in companies could chose to receive a token salary,
    thus avoiding taxes even on that income.

    Imagine the Walton family, whose entire fortune is built on
    inherited wealth, and Forbes, and how many others, never paying
    another penny of tax on their incomes, and then passing that
    same benefit to their heirs.

    OTOH, maybe that's a good idea, maybe that will be what it takes
    to get it through to the American people that the rich are
    actually drastically under taxed.

    BOB KLAHN bob.klahn@sev.org http://home.toltbbs.com/bobklahn

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