Isn't it Rich, Being Rich? (Cavuto)

FOX News ^ | 10/14/03 | Neil Cavuto

[abnegation]

Cavuto ping!

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[cspackler]

I never thought I'd post a reply like this, but...

DAMN!

[MJY1288]

That guy Cavuto knows how to rant :-)

[riri]

Cavuto is the man.

[bonfire]

Cavuto strikes again!

[Consort]

Some of the e-mails to him about his Rush comments were vicious.

[sirshackleton]

I have a great tax plan, that should soothe all of the "the rich don't pay enough" dingbats. The "poor" pay nothing, the "middle class" pay 1% and the "rich" pay 2%. Now whose ever "rich" pays taxes at a rate double that of all other taxpayers. Everyone should be happy, no? ;)

[fuquadukie]

That should *DAMN*.

[Right_in_Virginia]

Take a look at the tax tables, you ingrates. Read the charts, you trough-feeding, social-program pushing pimps. The very boondoggles you hold dear are funded by the so-called ingrates you sneer.

OMG..I just adore Neil Cavuto!

[halfdome]

It would be more fair if the rich paid the same percentage of their income as the poor and middle class do. And of course, if they were taxed at the same rate, they would be paying far more than the poor and middle class do. Obviously, 10% (or whatever percentage) of $200,000 is a lot more than 10% of $18,000, or $45,000. I get tired of the spin that the rich pay so much more in taxes -- of course they do, but they still pay a smaller percentage of their income in taxes, after deductions, etc.

[Looking for Diogenes]

Wait, you mean you think Arianna Huffington isn't paying enough taxes? But the author is saying that the 'rich' are already paying more than their fair share!

/sarcasm

[cspackler]

I get tired of the spin that the rich pay so much more in taxes -- of course they do, but they still pay a smaller percentage of their income in taxes, after deductions, etc

Huh? Have you looked at the tables lately? The tax rates range from 10% to 38.6%. Those in the dreaded "top 1 percent" pay a much higer rate of their income that the bottom rungs. Where do you get your theory?

[tonyinv]

But its not 10% its 35%. Its still more..more in dollars and more in percentage. Fair is not defined by how much each person is left with when the tax man is done.

A "fair" percentage tax system would see each tax payer pay the same percentage, regardless of income level.

There is no getting around it, the rich pay more in taxes in the end. Regardless of the various loopholes they can hire someone to find for them, they pay more taxes both as a percentage and dollar amount.

What we need is a Flat tax with no deductions. It's time EVERYONE start paying their share of the federal burden.

[halfdome]

I was using 10% as an example. I know it's not 10%. I agree with you that everyone should pay the same percentage, regarless of income level. That's what I meant to say. Of course, the rich pay more in dollar amount. I don't know that they pay more as a percentage. When I have my taxes done each year, I end up paying far less as a percentage of my income than people with fewer deductions than I have. But I am paying more in taxes than someone with no deductions, obviously.

[stayout]

We have in the United States what is euphemistically called a "progressive" tax system. Briefly put, the more one makes, the more one's tax rate goes up as well. So, the rich pay more in absolute dollars and as a raw percentage of their income.

Sorry to say this, but your poor understanding of how the tax system operates contributes to the class wars in that it allows someone like Joe Lieberman to claim the "wealthy" aren't paying "their fair share."

[The Duke]

OMG..I just adore Neil Cavuto!

But his head ... it's so damned BIG!

[goodnesswins]

Ever think that those "DEDUCTIONS" they take are CREATING JOBS???? (and RISKING their MONEY?) There's something to be said about INCENTIVIZING Capitalism.....the poor have an incentive to NOT be POOR. But, then, we live in America, where being POOR means you own a TV, a Car, A VCR, Refrig, a couple of toilets, and maybe even a computer and a fax machine (at least that's what a niece told us - "she's poor"...)

[eeman]

As several other poster have pointed out, the top rate is about 36 percent. So the "rich" are paying are paying higher tax rate. As for deductions, they are phased out with higher income rates. For instance, you cannot qualify for a Roth IRA above an income of 160,000 per year. I don't know where you are coming up with the notion that the "rich" are exploiting everyone else via deductions.