People need food and shelter. He hunts and does not like Obama. Facts Prove Otherwise At some point during our conversation we got into a discussion about taxes, profits and corporations. He has a job and works hard. The 10 percent of households with the highest incomes pay more than half of all federal taxes. My case in point is the conversation I had with this conservative East Texas acquaintance. This individual was not looking for free handouts.
The 10 percent of households with the highest incomes pay more than half of all federal taxes. He did not believe that rich people pay a higher percentage of their income than he does. Some oil platforms are as big as the Empire State Building and cost a bunch of money. The Bible Matthew That is capitalism though. As America slowly abandons those principles, America will see more problems. I told him that there are some individuals in all income levels who get around the tax rates, but on average the rich pay a higher percentage than everyone else. Second, the amount of profit a company makes is deceptive. Given the exposure that the debt creates, carrying large cash reserves should be viewed as an act of fiscal responsibility rather than unnecessary frugality. This individual is a conservative East Texan. He kept harping about corporations bringing in billions of dollars in profit and not paying taxes. While it's true that US corporations have a record amount of cash on their books, as is widely reported, they are also carrying a record amount of debt, which is hardly reported at all. I did find it odd that this individual only mentioned oil company profits. Brooks in an article on Real Clear Politics: Back to the subject of conservatives giving more to charity than liberals, according to Arthur C. We were agreeing about most everything. Buffett, who was the one who falsely stated that rich people pay a lower tax rate than middle class people, has yet to send in any extra tax money to the IRS even though he complains that he does not pay enough. With a high percentage of consumers and all levels of government still drowning in debt, it's very fortunate that at least one sector has cash in reserve. The conversation up to this point had been very non-controversial. Furthermore, a small percentage of rich people actually pay most of the taxes in America. The conversation pretty much ended there. This individual was not looking for free handouts. I finally asked this individual if he knew that what he was saying was leaning towards socialism. He has a job and works hard. Everyone has the opportunity to step out and work hard and start a company or get more education, which then gives someone the chance to make more money for themselves. He is not some Occupy Wall Street nut job protester. Drilling new wells creates jobs by the way.
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