HuffPost Live: Vets on the Farm
Every problem is a job.
Washington is ‘more corrupt than it’s ever been’
Cenk Uygur and Dylan talk about Washington’s continued inability to get anything done in Congress, even when polls clearly show that’s American citizens want.
Marijuana and hydroponic organic farming
Dylan thanks Tommy Chong and marijuana growers everywhere for making hydroponics mainstream.
Putting Our Money Where Our Mouth Is After 780 hours of political cable news, 6000 hours of live financial television, 45 cities, 2 national jobs tours, 277,963 signatures to amend The Constitution, 245 pages of book and a promotion tour for Greedy Bastards, I was exhausted.
Dylan Ratigan Mad as Hell His Epic Network Moment We've got a real problem...this is a mathematical fact. Tens of trillions of dollars are being extracted from the United States of America.
Im Mad As Hell How About You Yesterday, on TV, I exploded. I spent two minutes giving a primal yell at our political system, demanding the extraction of our money and dignity end. It was my most heartfelt and emotional moment on television, ever.
Ron Paul Exclusive Whos Regulating Washington "I want the government to live up to their promises." Listen to Dylan's exclusive interview with Rep. Ron Paul.
Deepak Chopra Leads Meditation at Occupy Wall Street Deepak Chopra joined us at Occupy Wall Street in New York's Zuccotti Park on Monday night, and led a two minute meditation with the General Assembly.
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Question: If tax cuts are extended to households making up to 250000, the wealthiest would receive a tax cut on that portion, correct? But if the tax cuts are extended to the wealthiest, would they receive a tax cut on the 250000, portion, as well as an editional tax cut making over that amt? Thanks for the sight.
What I've heard people say is that the US has the highest "corporate tax rate" in the world, and that's what's stifling economic growth. This article only addresses personal income taxes. I don't believe anyone when they're trying to get more money for themselves, but could they be right about the corporate tax rate? I already know we can't compete on the labor market with slave owners, but maybe there's a distinction in saying "corporate tax rate" that makes what they're saying at least partially true?
Yes we do have a hig corporate rate with loop holes like swiss cheese,That is why exxon paid 45billion in taxes zero of that to the U.S. the rich now have a monopoly on our goverment and the country if they have their way which looks like they will since every bad thing that is the working mans fault because he no longer has representation that is only for the rich,so a box and a bowl of rice for everyone!!!!
Dylan, what about corporations? "The US has the highest corp tax rate in the world!" May be, but when you factor in the reality that only 7% of corporations pay tax!
Also, lets be real on income taxes on the RICH. Warren Buffet is worth about $30 Billion, right? As the world's top investor, you would have to assume at least 5% earnings or about $1.5 Billion. Because of capital gains, deferred compensation, etc. he pays income tax on a very small percentage of his total income. That is the elephant in the room, RICH people pay NO income tax on the majority of their income!
We are fast becoming a nation where 95% of us compete for the right to "serve" the other 5%. We either don't make enough or can't afford a "creative" accountant to help us with our taxes. Before outsourcing (free trade) I honestly never cared that the rich didn't pay their fair share percentage wise. But now the rich do not want the rest of us to even make a decent living. At some point we need to say enough is enough!
Load of shizzle… the lower 47% do not pay income tax at all… and the top 10% pay 70% of all taxes collected… how much is too much?
I would be wary of accepting pieces from Zero Hedge at face value. A few of comments on this one:
First, I don't know anyone who claims that the U.S. has "the highest tax rate in the industrialized world". That's just a straw man. I think pretty much everyone who talks about this topic is aware that Sweden, for example, has a higher top personal income tax rate (they may not be aware though that Sweden has a lower corporate income tax rate than we do — that's true of most industrialized countries).
Second, I'm skeptical of Buffett's claim that he pays taxes at a lower rate than his secretary. Has any journalist confirmed this by auditing both Buffett's and his secretary's returns? In any case, if Buffett wanted to pay more in taxes, he could easily do so by selling his BRK shares, paying cap gains taxes on them, and then donating the net proceeds to the Gates Foundation. Instead, he donates the shares to avoid the cap gains tax.
Third, does the quote about the effective tax rate of the top 400 earners refer only to federal income taxes or all federal taxes? The Congressional Budget Office, taking all federal taxes into account (income, excise, social insurance/payroll taxes, portion of corporate income taxes that gets passed on to individuals), demonstrated that federal taxes are progressive ( http://www.cbo.gov/publications/collections/tax/2… ). Quote:
"The federal tax system is progressive–that is, average tax rates generally rise with income. Households in the bottom fifth of the income distribution (with average income of $18,400, under a broad definition of income) paid 4.0 percent of their income in federal taxes. The middle quintile, with average income of $64,500, paid 14.3 percent of that income in taxes, and the highest quintile, with average income of $264,700, paid 25.1 percent."
I hope when tax reform comes they do away with all deductions. Just figure out what rates are needed to fund the government and the debt and charge people accordingly. Of course rates must be progressive since lower incomes have no excess income while in upper brackets most of the income is not needed to maintain the standard of living, as much higher than average as it is. Then it must be figured out how to prevent people and their lawyers from "hiding" income. The rates could be lower than current ones if everyone really paid tax on all their income, like the middle class does.