The only missing piece is to know what percentage was paid to the USA treasury. The political right wing has always claimed the middle class and the poor were not Americans because they don't pay the amount of taxes that pay the debt of the USA government.
It is important to note the percentage of income tax paid because it proves the middle class and poor proportionately pay more than the million-billionaires. The middle class and poor want respect. They work for a living which should be valued by Wall Street and the USA wealthy.
Warren Buffet made a political statement in support of the middle class and poor when comparing his percentage income to that of his secretary. The percentage is a statement of support in tax reform. There are plenty of loopholes that need to be closed and there needs to be a tax increase for those that can afford it AND pay far less dollar to dollar of the middle class and poor. These monies are exceptionally important to assist in paying the national debt that grew due to two wars not paid for and a huge economic crash that required federal monies stimulus to encourage the economy to recover.
The Recovery Act is also in need of respect. The Recovery Act did stop the economic decline and the enormous return from record losses in employment. The Recovery Act is often stated to be a worthless effort. That is a blatant lie. States were able to find funding over the following years to complete or start a return of construction jobs. The construction sector was hit the heaviest in the 2008 collapse.
But, the Recovery Act is never recognized for it's monetary stimulus from the first day of it's passage.
January 28, 2016
By Angie Drobnic Holan
...During the campaign, (click here) the independent Tax Policy Center researched how Obama's tax proposals would affect workers. It concluded 94.3 percent of workers would receive a tax cut under Obama's plan based on the tax credit to offset payroll taxes. According to the analysis, the people who wouldn't get a tax cut are those who make more than $250,000 for couples or $200,000 for a single person. Obama said he intended to raise taxes on those high earners, a promise he reiterated during the State of the Union, and that revenue would offset the stimulus tax cut....
Warren Buffet never apologized for paying a smaller percentage from his income to taxes. His percentage was legal and allowed by the IRS rules and regs. His stated percentage of income tax in relation to his secretary was an enormous statement about the unfairness of the tax regulations and it's favored status of the wealthy.
Basically, Warren Buffet said the USA income tax regulations were rigged to benefit the wealthy. AKA, "Bought and Paid for corruption of our political system."
May 17, 2016
By CBS
New York, NY - Donald Trump (click here) told the Federal Election Commission (FEC) that his income for 2015 exceeded $557 million, and he says his net worth remains "in excess of $10 billion dollars."
It is important to note the percentage of income tax paid because it proves the middle class and poor proportionately pay more than the million-billionaires. The middle class and poor want respect. They work for a living which should be valued by Wall Street and the USA wealthy.
Warren Buffet made a political statement in support of the middle class and poor when comparing his percentage income to that of his secretary. The percentage is a statement of support in tax reform. There are plenty of loopholes that need to be closed and there needs to be a tax increase for those that can afford it AND pay far less dollar to dollar of the middle class and poor. These monies are exceptionally important to assist in paying the national debt that grew due to two wars not paid for and a huge economic crash that required federal monies stimulus to encourage the economy to recover.
The Recovery Act is also in need of respect. The Recovery Act did stop the economic decline and the enormous return from record losses in employment. The Recovery Act is often stated to be a worthless effort. That is a blatant lie. States were able to find funding over the following years to complete or start a return of construction jobs. The construction sector was hit the heaviest in the 2008 collapse.
But, the Recovery Act is never recognized for it's monetary stimulus from the first day of it's passage.
January 28, 2016
By Angie Drobnic Holan
...During the campaign, (click here) the independent Tax Policy Center researched how Obama's tax proposals would affect workers. It concluded 94.3 percent of workers would receive a tax cut under Obama's plan based on the tax credit to offset payroll taxes. According to the analysis, the people who wouldn't get a tax cut are those who make more than $250,000 for couples or $200,000 for a single person. Obama said he intended to raise taxes on those high earners, a promise he reiterated during the State of the Union, and that revenue would offset the stimulus tax cut....
Warren Buffet never apologized for paying a smaller percentage from his income to taxes. His percentage was legal and allowed by the IRS rules and regs. His stated percentage of income tax in relation to his secretary was an enormous statement about the unfairness of the tax regulations and it's favored status of the wealthy.
Basically, Warren Buffet said the USA income tax regulations were rigged to benefit the wealthy. AKA, "Bought and Paid for corruption of our political system."
May 17, 2016
By CBS
New York, NY - Donald Trump (click here) told the Federal Election Commission (FEC) that his income for 2015 exceeded $557 million, and he says his net worth remains "in excess of $10 billion dollars."
In a press release, the GOP presumptive nominee said he had filed his personal financial disclosure (PFD) Monday and called it "the largest in the history of the FEC."
He also took the opportunity to slam Bernie Sanders for requesting "an extension for his small report" and went on to say that it showed the difference between a business man "and the all talk, no action politicians that have failed the American people for far too long."
The Center for Public Integrity's Dave Levinthal first reported Sanders' request for an extension in late April....
