In terms of percentage of income, those that make the kind of money Gates and Turner do, pay a lot less than most working people do. Bill Gates DOES NOT give 60 percent of his income to charity. Elton John does. The Gates Foundation, established with seed money given by Gates, raises money from other sources. A huge Irony is that one of the charities The Gates Fdn. supports is involved in addressing AIDS in Africa, while getting a lot of it's funding from investments in drug companies that oppose providing low cost AIDS drugs to Africa.
2007-08-24 06:35:21
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answer #1
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answered by Anonymous
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All the more reason for the Fair Tax Act H.R. 25 / S.R. 1025 replacing all income taxes with a single national sales tax.
The “rich” like Gates, Turner, even Paris Hiltion pay no income tax, SS or Medicare. They have no jobs, they live off interest income. They pay a capital gains tax of 15% of the gain.
The rest of us have 23% taken out of our checks AND we pay corporate taxes hidden in the price of a product.
Under the FairTax they the “rich” would pay the same rate as everyone else on the purchase of new items.
No flat tax, that still taxes income and thus is still an anchor on production, job creation and capital formation.
Those against the FairTax are still using old static evaluations and basing it on income rather than a dynamic analysis. Frequently Asked Questions about the FairTax http://www.fairtax.org/fairtax/faqs.htm
2007-08-24 14:25:33
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answer #2
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answered by Anonymous
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In 1999, The Economist reported that Murdoch ( Fox News owner) had made £1.4 billion ($2.1 billion) in profits over the previous 11 years but had paid no net corporation tax. It further reported, after an examination of what was available of the accounts, that Murdoch would normally have expected to pay a corporate tax of approximately $350 million. The article explained that the corporation's complex structure, international scope and use of offshore havens allowed News Corporation to avoid tax[
Support the Troops = Not paying Tax = No money for weapons!!!!
2007-08-24 13:38:10
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answer #3
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answered by Anonymous
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I don't know about Ted but Bill gets around taxes by giving away almost 60% of his earnings to charities. with that fact going for him, I don't mind if he isn't paying taxes. How much do you give?
2007-08-24 13:34:16
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answer #4
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answered by Alan S 7
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What are you talking about?? Each year both of these individuals pay more in taxes than you've made in all of the years you've worked combined! Try doing a little independent research before you fall for the next lie.
Gates pays over a million dollars a year in property taxes on his house! His federal tax return is so large, the IRS had to dedicate a seperate computer to process it!
2007-08-24 13:33:05
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answer #5
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answered by evans_michael_ya 6
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No. The amount of taxes they pay is not fair, but NOT FAIR TO THEM.
Even if these guys paid 1% of their earnings to taxes, they would still be paying much more than you or I (in real dollars) for the same government.
They are paying thousands of times their "Fair Share".
2007-08-24 15:12:15
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answer #6
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answered by plucente 1
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It is not justice. and the irony is that Republicans and Conservatives defend them while they are paying more taxes than they do. see below what the third richest man in the world has to say about taxes and the rich.
http://business.timesonline.co.uk/tol/business/money/tax/article1996735.ece
2007-08-24 13:39:31
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answer #7
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answered by truth seeker 7
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all the more reason to go to a 10% flat tax no exceptions no loopholes fair for all and all pay
2007-08-24 13:35:35
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answer #8
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answered by Anonymous
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we need to all get together and incorperate that way we could have equal rights and same tax shelters. we can be citizens inc. and make home improvements for no personal expense and get big corp exec saleries and benefits
2007-08-24 13:35:39
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answer #9
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answered by fishshogun 5
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No. It's not fair.
2007-08-24 13:32:56
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answer #10
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answered by Anonymous
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