This editorial cartoon was inspired by an article that I can’t find anymore. I was in Kiplingers, Fortune, Money, Forbes or one of those fancy business magazines. It came out around the time that people were complaining about GE not paying any taxes and it had to do with how CEO’s of major companies have been legally avoiding the taxman through various tax shelters. Anyone who finds that article, let me know.
These are guys that can afford to have full time accountants and finance people figuring out ways to work the loop holes of the tax system to their advantage. Don’t get me wrong, I am not a fan of forking over a larger portion of my paycheck to taxes either. But if it came down to raising my taxes or closing some loopholes that the uber rich can take advantage of…which one do you think I would prefer?
I am not one who thinks we shouldn’t pay taxes. I just think we need better prioritization of the spending of our tax dollars and better controls of out of line politicians.
On the other hand, I agree with conservatives who don’t want the Obama administration to raise taxes on families in the $250,000 range. All too many of those are entrepreneurs with small businesses. But someone in the $500,000+ range, go hire a finance guy to find the latest loophole.
Going to be out of loop for the next few days so talk amongst yourselves, tweet or stumble this if you want, and don’t forget to support the charity challenge.
True. Yet who (in any tax bracket) isn’t going to use the tax system to their advantage? I don’t think many people choose to send the IRS a ‘little something extra’ for it’s time. No matter where the FED got it, chances are it’s taken too much (to be spent on a budget no one seems to have any real intention of balancing). Er, you know, that’s just what I think.
I hope you have a nice break, Bearman – will you be getting some sun after a long winter / hibernation?! 🙂
Wow – that’s a lot of smilies.
Look, another one.
That’s part of the reason why I think they won’t go to a flat tax is because it would put most of the IRS ( ie gov’t jobs) out of work
Damn those uber-rich. I get really annoyed that we regularly have taxes uber-raised & those who can most afford it weasel out of paying their full share. I also get annoyed at the uber-wastage of tax money by the government. Here in Tasmania the government has been cutting funding to health, education, emergency services including police & ambulance services. Then they announce all this uber-spending for sports venues & sponsorship. Not to mention politician’s payrises. Wrong priorities indeed GRRRRR…
This sounds like politicians everywhere.
I don’t mind the uber rich and if I were them I would try to hold onto as much money as the government will allow. It is the government that needs to close the loopholes
I thoight I fouind a loophole but it turned out to be a black hole and it sucked all my money into it.
Ha Ha that black hole’s called the Taxation Office. I thing you guys call it the IRS
Funny in my house, the black hole of money goes by “wife”
Actually I have found a way to avoid paying income taxes. If you have no income you don’t have to pay taxes on it.
True. But I,d feel paid making you pay for all my stuff
That’s my solution! Anybody got a spare dollar?
Yes but you have to come pick it up
With the current price of gas, that’ll take me about 5 miles. . .
Well said, Bearman!
One of the things that annoys me about the “raising taxes over anyone who makes over $250k” is that in areas of the country where the cost of living is much more expensive than other areas, $250k is an average salary that doesn’t go any further than say someone living in FL at $125k. If you own a -small- business, this increase directly affects -you- more than it does the million and billionaire club. The more money you have, there are more ways to hide it in tax shelters and the loopholes for moving money offshore is larger than Uranus! o.O
Enjoy your break, I’m on one too!
Another break for you? I need your schedule. Ha j/k. I agree and something I hadn’t thought of. Wonder how someone lives in NY on $100000 versus a city in Wyoming
People can live extremely well on $100,000 in Mississippi. I don’t know if I could or not but I sure would like to give it a try.
You would take a pay cut?
Hope you have a few nice days off. I am with you on this one. People who are in the top percent can afford to pay taxes but often get away with loopholes and such. I don’t believe the Obama administration has done a good enough job of thinking what they are actually doing. the people in the 250,000 mark are the one who are hiring people as well as being small business owners and entrepreneurs.
Can I see your taxes. Just wondering if I should switch occupations and start renting textbooks. Ha. Wonder if your business will take a hit as more profs sell their materials to students directly in an e-format
They are making the switch but it will take quite awhile. I don’t foresee having any real issue for at least a few years. It may seem like the tech is moving along swiftly but there are still people who are resistant and just plain old old school.
Interesting but random thought. It is said that you can not read as fast online as you can a book and your eyes get strained and tired from looking at the screen. School is hard enough as it is, why make it any harder to consume the material needed by making it digital. While it does make sense to be able to have all your books digitally and in one place, we know that technology can and does mess up. The last excuse a professor will take is my PC crashed with all my books and notes, along with my term paper.
True but if a professor no longer has to try and work through a publishing company or use someone elses textbook, he can make some extra cash on the side
I think it is a best direction by this nice Editorial Cartoon that Why I pay Taxes?I am really impress to watch this well sharing.
Do NOT get me started on taxes.
Are you saying you haven’t filed yet?
Nicely done. Taxes are one subject that will always inspire a debate of epic proportions.
Both in how to raise them and how to spend them
I don’t mind paying taxes. We have a decent health care system here and we look after our elderly. These and other things like education, transport etc cost money and I’m happy to contribute
There are def gov’t services that I am happy to pay for. It is when politicians want money for pet projects that only benefit a few or their own ego that I struggle with
The fact that GE didn’t pay any taxes makes me want to shove a microwave up Jack Donaghy’s ass. If only he weren’t so damn loveable and handsome.
Business write offs. Again nothing illegal. They just have the money to buy the loopholes
Er find the loopholes…oops
I agree with you Bearman. Personally, I think it would a Very Good Thing if the rich and super rich would pay up a proper percentage of their income just like the little guys have to. Unless, of course they are personally paying for roads and schools for the masses. Every year the school district cuts teaching positions just to keep out of debt. If that keeps up, the little rug-rats are going to be under everyone’s feet pretty soon. ;`)
True but then there are people like buffet who has all his wealth in stocks. So on paper he is uber rich but since he hasn’t sold the stock and realized a gain then he doesn’t have to pay tax on. There are some who find that appalling but I agree with the current system and think he shouldn’t have to just because a stock price went up
I do my own taxes, and I swear I screw them up every year, but somehow they slip through the gate. I’m just waiting for an auditor to come knocking at my door with a rap sheet.
I have just forwarded them your address…listen for the door
BTW, I blogged about you again on my Bo Lumpkin site and put you in today’s comic on the Gatorhead Site. I’m just reminding you so you don’t get off for less than the $1000 dollars.
Great. If I ever run for office, I am making you my campaign manager
We have a holy tax system here in America (Holy as in full of holes) which is not only flawed, but conceptually deficient. Income Tax is an obsolete concept because it penalizes work. Taxes should be paid on consumption and gains, but not on wages. This is especially true for federal employees like yours truly. Why does the government pays me, then collects taxes on what it pays me, then makes me file a tax form to claim deductions on the taxes I paid, then sends me a check for the amount I initially paid? Income taxes should be eliminated for everyone, but if they don’t want or dare to take that step, at least federal employees should be excempted. Moving money around that is going to end in the same place where it started only benefits the financial institutions that charge to execute said movements.
I would buy that government employees shouldn’t pay taxes if you agree they should make exponentially less than those in the private sector. Recent studies have shown the opposite as a whole (obviously exceptions on specific jobs).
I put your charity challenge on my comic blog for midnight tonight. I hope my very few viewers take you up on it. :`)
I’ll take you up on it. Oh wait. Your viewers are a loyal bunch so I’ll take them all. Thanks for doing this!
Urgh don’t get me started about tax. We just had our budget delivered last night and again the middle class got slugged the most. Australia has one of the highest tax rates in the world, highest inflation rate and highest housing prices yet big corporations (especially banks) dodge these tax bullets.
They are trying to keep the jobs flowing..haha. At least that is what the government always says.
The politicians can fix all that is wrong, but they won’t. They would rather fight about things than fix them. It benefits them. They are responsible for most of the loopholes that the rich have to keep from paying taxes. The politicians then vilify them. Interesting isn’t it?
Have a terrific day. 🙂
Interesting it is the politicians that have better health care than the rest of us, OH and do they still get a pension. I don’t get a pension.
HA! I thought I already commented. It’s still funny the second time around reading it! I must be losing my mind. At least I’m visitibg, and reading! I’m sure that doesn’t make up for not commenting though.
As do I. Sometimes I visit and something strikes me funny or interesting but I don’t always comment.
Well if ya didn’t make so damn much money .. 🙂
I don’t have move to Thailand kind of money.
The airfare is expensive but once you get here you can live cheap cheap cheap. I paid $1.80 for dinner last night and it came wiw a 40 oz. beer, so I had money left for that 2 hour massage and scrub which only cost me $40
But if Rip is now getting paid in Thai currency instead of $$, then you won’t have much money for the $1.80 dinners for very long..haha
I defend whichever side I’m on. I have barely enough so I don’t wanna give any of that up. If I was uber-rich, however, I’d probably be less inclined to wanna let any of my millions go either. It’s a hard situation to gauge. It’s like how I don’t care about pedestrian rights until I become one. 😀
Geez…took you long enough to get over here. Guess you forgot about me when I was on vacation..haha
I don’t know what it is, dawg! I make the rounds everywhere but seem to neglect yours as a last thought. It’s nothing personal. Maybe I should really do the smart thing and subscribe.
I’m the idiot who just tries to remember when everyone updates then forgets their schedule. Hey! Why don’t you update every day so I can never forget?
Just a thought. 😀
subscribe…now…I think I fixed my rss feed. But then again I dont’ know.
A good honest finance guy will make you money in the long run. They know al the tax tricks.
True but either you pay them for their services or you might get stuck with the plan that makes them the most commission.
In Jamaica there’s a hotline for persons to use to report tax dodgers. It seems to be working.
Why…did someone report you…haha j/k
this reminds me of Denny Delvecchio’s comment when he said ” you mean denny paid 746 more dollars in taxes than GE?” haha
Denny needs to make those funny comments here.
Well post here on this topic.I am totally agree with this well collection.
Bush tax cuts have allowed the rich to get richer while knocking several average folks out of the middle class. There are 400 people in America who have a wealth that is more than the combined wealth of 50% of the country. That’s just disgusting.