Politics and Taxes, Don't Confuse me with the Facts

Would we rather bull-doggedly hang on to one political candidate and party or the other even when faced with the facts that reality is not about either one but instead, it's about knowledge or the lack of it? Many are feeling extreme emotions regarding Mother Jones' leaking the contents of a recent Romney speech. It portrayed the 47 % of those in USA who do not pay taxes as feeling like victims, wanting the government to take care of them and feeling entitled. Not paying taxes is mostly about the knowledge of how not to pay taxes and using that knowledge, and we are all guilty at one time or another.

Who doesn't pay taxes, and can we honestly say they all feel entitled and like victims and want the rest of us to foot their bill?

1. 22 % of the 47 % who did not pay 2011 income taxes were the elderly who were living on social security. Entitled? Victimized? Want the rest of us to take care of them?

2. Over two dozen of the Fortune 500 corporations did not pay income taxes. Entitled? Victimized? Want the rest of us to take care of them?

3. Many of all income levels do not count their income (which may be in addition to their main job or not)  any of the following: yard sale proceeds, freelance work online or in person, mowing lawns, home repair for other people, babysitting, and Amazon and eBay sales. Do you? Don't answer out loud. Just answer to yourself.

4. Around 17 % of the 47 % who did not pay 2011 income taxes were students or low income workers. Entitled? Victimized? Want the rest of us to take care of them? Wow, I remember my first job at McDonald's at age 17. I worked 40 hours a week at $1.20 per hour, and I was also a full-time student at Pensacola Junior College. I paid Social Security and Medicare Payroll Taxes, but always paid very little income tax. Thank goodness, or I never would have been able to transport myself back and forth to work and college. I would have had to quit both.

5. Who else doesn't pay taxes? Read a fair-minded, logical, non-emotional description of those who don't have to pay taxes and other such information:

http://money.howstuffworks.com/personal-finance/personal-income-taxes/are-some-people-exempt-from-taxes1.htm

http://www.ehow.com/about_5417525_not-pay-federal-income-tax.html

Quit blaming a political party, a government official and such. Don't get upset about Romney's comments about the 47% who do not pay taxes ... neither agreeing with him in anger or disagreeing with him in anger.  Get educated on what is legal and what is not. Knowledge is power. Share that knowledge like I am here. Stand up on your own feet and take what is rightfully yours by the law. Let us teach each other to question our uninformed preconceptions but with the facts, not conjecture, not blanket statements, and not emotionally-filled insults.

* Source of photo: http://chronicle.augusta.com/news/metro/2011-12-03/downtown-augusta-fireworks-parade-celebrate-christmas-season

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Compare/Contrast McCain and Obama's Economic Policies

The following are not the opinions, statements or beliefs of Super Technologies, Inc.

Have you read all the blog posts regarding the upcoming USA elections? Wow, it is absolutely exciting.

I'd like to respond to one that I just read which was attempitng to summarize Obama's economic policy by stating that as a restaurant patron, he would not give the waiter a tip and instead, give it to a homeless person down the street.

Not quite, but I'll give proof at the end of this post.

My thoughts:

Seems the McCain economic policy...might be...give the $10 tip to the manager in the hope it would stimulate more business for the restaurant and more income for the waiter. Trickle down economics.

Here's what the Obama campaign is saying about the tax plan:
1. 95 percent of workers receive a tax cut of $500; $1,000 for
working couples/families.
2. Tax cuts for low- and middle-income seniors, homeowners, uninsured, families sending a child to college or looking to save and accumulate wealth.
3. Cut corporate taxes for firms that invest and create jobs in the United States, and provide tax credits to reduce the cost of healthcare and to reward investments in innovation. No capital gains tax for small businesses.
4. Dramatically simplify taxes by consolidating existing tax credits.
5. No family making less than $250,000 will see their taxes increase. Families making more than $250,000 will pay either the same or lower tax rates than they paid in the 1990s. Tax relief for middle class families is larger than the revenue raised by tax changes for families over $250,000.

The full details are located at:
http://www.barackobama.com/pdf/taxes/Factsheet_Tax_Plan_FINAL.pdf

Here's a comparison between McCain's and Obama's positions, taken from the attachment:

...Both candidates pledge to lower taxes overall, but the key point to the debate is who will be paying the bills.

Sen. Obama favors tax cuts for middle-class workers and tax increases for top earners -- families that make more than $250,000 and individuals making more than $200,000 a year. He wants to extend most of the 2001 and 2003 Bush tax cuts, but raise the top two marginal rates to 36% and 39.6%.

Sen. Obama wants to eliminate taxes on seniors making less than $50,000 a year and to provide a "Making Work Pay" tax credit of 6.2% of the first $8,100 in wages (about $500) for individuals earning less than $75,000 a year. Outside analysts estimate that the top 1% of wage earners would see an average tax increase of $19,000.

Sen. McCain wants to permanently extend all 2001 and 2003 Bush tax cuts, raise the personal exemption for each dependent from $3,500 gradually over several years to $7,000 and keep the top tax rate at 35%, leaving "upper-income taxpayers" with "the most to gain under McCain's plan," according to a report by Deloitte Tax. The nonpartisan Urban-Brookings Tax Policy Center estimates that the top 1% would see a tax cut of more than $125,000.

http://online.wsj.com/article/SB12249714007486

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