Why an Obama Presidency is so important: The poor pay more for Necessities

[Avinash_Tyagi]

Kasz216 said:

Avinash_Tyagi said:

coolestguyever said:
I understand that the poor can't afford to pay a lot but that doesn't mean we should exploit the rich. With all the programs in place for poor people there is becoming less and less incentive to work hard and become rich, you know your going to be taxed through the ass and get no special treatment.

Also another thing to note: Who is it that's donating large amounts of money to charity? Is it the poor guy who is barely getting by?? No its the rich guy with lots of disposable income. Not only are we being taxed, but the more generous rich people also donate to charity like my father.

 

The rich donate for the tax breaks, no other reason, how do I know that, because the only way that the data would be collected on who donates is if people file it in their taxes, if it was done anon, there would be no data on who gave money to charity.

 

We should tax the rich more, and their cap gains as well

I don't think you understand how tax breaks work when you give money to charity.

Please give a detailed description of how you believe it works.

Edit: ah screw it.  Here is how it works.

 

Say I'm rich and I donate 1,000 dollars to charity.  Now I don't need to pay 350 dollars to the government.

Say I'm rich and I donate all my money except 1 dollar to charity.  Now I need to pay 35 cents to the government I get to keep 65 cents.

No matter how much money you donate to charity your tax rate does not change.

Well until soon anyway.  Obama wants to make it that if a rich person donates all their money to charity they'll still owe the government money.

 

 Actually under most caps you can deduct up to 20-30% off of your income tax, considering you make a donation that large, this can in fact reduce your taxable income thereby making you pay less in taxes