NJ Governor Chris Christie tells it like it is

[sanjuro_ronin]

It's deducted automatically, but when you file taxes in April, many people get credits and deductions that are worth more than the taxes they paid. So they either get ALL of their taxes back, or in some cases, like Earned Income Credit (mostly for single moms), they get more back than they paid in.

AH, I see.
And how does one qualify for these credits?

[MasterKiller]

AH, I see.
And how does one qualify for these credits?

Various tax incentives.

Making less than a certain amount
Having X number of kids
College tuition reimbursement
Medical claims
Small business losses
blah blah blah

There are about a million things you can claim.

[BJJ-Blue]

Isn't it a bit weird to punish people for being successful?

Man, you're starting to sound like Rush Limbaugh, Glenn Beck, and Neil Boortz!

Seriously, this is exactly why socialism always fails. Why produce if it's just going to be taken from you and given to others who are not producing?

[Lucas]

i dont get back what i pay in personally. i get like 400 bucks back from fed when i file, and then owe state like 500 its stupid. federal alone takes 130 out of every check, thats 2300 a year. i dont own a home, no kids, not in school, dont make that much but enough that they want to rape my ass. total with holdings every month with medicare and all that jazz is around 600 bucks i dont see anything back cuz the state takes any return i get from feds plus some. i dont make that much money in the first place.

[MasterKiller]

Man, you're starting to sound like Rush Limbaugh, Glenn Beck, and Neil Boortz!

Seriously, this is exactly why socialism always fails. Why produce if it's just going to be taken from you and given to others who are not producing?

But the last thing rich people want is a flat tax. To get the same income, the rate would have to be around 19 or 20%. Not to mention, since the majority of corporations in America currently pay no taxes at all, they would suddenly get hit, forcing much higher prices in the market.

[BJJ-Blue]

i dont get back what i pay in personally. i get like 400 bucks back from fed when i file, and then owe state like 500 its stupid. federal alone takes 130 out of every check, thats 2300 a year. i dont own a home, no kids, not in school, dont make that much but enough that they want to rape my ass. total with holdings every month with medicare and all that jazz is around 600 bucks i dont see anything back cuz the state takes any return i get from feds plus some. i dont make that much money in the first place.

If you work and make enough to support yourself without Gov't aid, you'll get screwed. IMO, it's really that simple. The only way to solve it is to not vote Democrat until they start moving back to the center (as they were when JFK was a Democrat).

The Democrats really did used to be the Party for the "working man". Now they are the Party for the non-working man.

But the last thing rich people want is a flat tax. To get the same income, the rate would have to be around 19 or 20%. Not to mention, since the majority of corporations in America currently pay no taxes at all, they would suddenly get hit, forcing much higher prices in the market.

I don't agree that most corporations don't pay taxes. Remember, we have some of the highest corporate taxes (if not the highest) in the world.

And the flat tax would not affect corporations at all, as it would only be applied to individual income taxes. Of course those persons who hold stock in corporations would have to pay taxes on their market/capitol gains.

Are you for or against a Flat Tax? I myself am, if ALL of a person's income is added up and they pay the flat rate on all of it. No tax shelters, no varying rates on different types of incomes, etc.

[MasterKiller]

I don't agree that most corporations don't pay taxes. Remember, we have some of the highest corporate taxes (if not the highest) in the world.

http://www.reuters.com/article/2008/...49465620080812

The Government Accountability Office said 72 percent of all foreign corporations and about 57 percent of U.S. companies doing business in the United States paid no federal income taxes for at least one year between 1998 and 2005.

And the flat tax would not affect corporations at all, as it would only be applied to individual income taxes. Of course those persons who hold stock in corporations would have to pay taxes on their market/capitol gains.

Yes it would. Most flat tax models have an individual bracket and a corporation bracket.

Are you for or against a Flat Tax? I myself am, if ALL of a person's income is added up and they pay the flat rate on all of it. No tax shelters, no varying rates on different types of incomes, etc.

Personally, I'd rather see a federal income tax. Taxing spending instead of working seems more fair to me.

[MasterKiller]

http://www.forbes.com/2010/04/01/ge-...ate-taxes.html

The most egregious example is General Electric ( GE - news - people ). Last year the conglomerate generated $10.3 billion in pretax income, but ended up owing nothing to Uncle Sam. In fact, it recorded a tax benefit of $1.1 billion.

Avoiding taxes is nothing new for General Electric. In 2008 its effective tax rate was 5.3%; in 2007 it was 15%. The marginal U.S. corporate rate is 35%.

[Drake]

Man, you're starting to sound like Rush Limbaugh, Glenn Beck, and Neil Boortz!

Seriously, this is exactly why socialism always fails. Why produce if it's just going to be taken from you and given to others who are not producing?

If you make that correlation again, I swear the internet will start getting very intense for you.

[Lucas]

Anonymous!!!!

[David Jamieson]

Why produce if it's just going to be taken from you and given to others who are not producing?

why feed your family? Why bother having kids, they are just a burden on your wallet? Why have schools and hospitals and libraries and parks?
Why have a unified society on many levels?
Why care about your fellow citizens or your fellow humans at all?
To those who cannot help themselves, let them perish right?
To those who are unable to lift themselves up, deny them the tools to do so!

On the other hand, you can be upright and think beyond your small circle and look at the greater society as a whole and want to contribute to it altruistically and with great efforts.

Socialism has many favourable aspects. It has aspects that are not favourable, but for me, that is all the political and transitional to communism stuff which is where it becomes about control of a populace more than the common good.

moderation in all things is the way.

[BJJ-Blue]

Personally, I'd rather see a federal income tax. Taxing spending instead of working seems more fair to me.

I'm all for that idea too. But don't you mean a Federal Sales Tax?

The most egregious example is General Electric ( GE - news - people ). Last year the conglomerate generated $10.3 billion in pretax income, but ended up owing nothing to Uncle Sam. In fact, it recorded a tax benefit of $1.1 billion.

Avoiding taxes is nothing new for General Electric. In 2008 its effective tax rate was 5.3%; in 2007 it was 15%. The marginal U.S. corporate rate is 35%.

You are correct.

But you do know that their CEO is in bed with the community organizer's Administration, right? In February 2009, Jeffrey Immelt was appointed as a member to the President's Economic Recovery Advisory Board to provide the President and his Administration with advice and counsel in fixing America's economic downturn. So I guess the community organizer feels a guy whose company is the poster child for a corporation dodging taxes is the guy to turn around this country. So if the guy in charge of the economic recovery feels that corporations don't have to pay taxes, on whose backs do you think he will tell the President to fix the economy with?

This is exactly why I despise the community organizer, the rampant hypocracy. He is always blasting the rich for not paying their fair share, then he appoints a CEO of a corporation that doesn't pay near their fair share to an important economic position.

[BJJ-Blue]

If you make that correlation again, I swear the internet will start getting very intense for you.

Ok, you're strarting to sound like Sarah Palin.

[BJJ-Blue]

On the other hand, you can be upright and think beyond your small circle and look at the greater society as a whole and want to contribute to it altruistically and with great efforts.

I have. I don't mind helping those who help themselves. But we are not doing that. We are seeing politicans buy votes with my, MKs, Drake's, etc tax dollars. And that's wrong. If they really wanted to help people rise out of poverty with a helping hand, why are there more people in poverty now than before the Great Society was implemented? Why is the illigitimacy rate higher now than before? Why are we now 3-4 generations deep in welfare and the recipients still want even more money?

[MasterKiller]

I'm all for that idea too. But don't you mean a Federal Sales Tax?

Yeah, I meant sales tax.

But you do know that their CEO is in bed with the community organizer's Administration, right? In February 2009, Jeffrey Immelt was appointed as a member to the President's Economic Recovery Advisory Board to provide the President and his Administration with advice and counsel in fixing America's economic downturn. So I guess the community organizer feels a guy whose company is the poster child for a corporation dodging taxes is the guy to turn around this country. So if the guy in charge of the economic recovery feels that corporations don't have to pay taxes, on whose backs do you think he will tell the President to fix the economy with?

This is exactly why I despise the community organizer, the rampant hypocracy. He is always blasting the rich for not paying their fair share, then he appoints a CEO of a corporation that doesn't pay near their fair share to an important economic position.

When 57% of corporations DO NOT pay their fare share, it's hard to get public sector help from a source that does.