[leshiggitydonatello]

Serious question. Please no trolls.

Why should someone study so hard for the CPA Exam, when they have to give 1/3 to 1/2 or more of their future income to the gov’t? This includes property taxes (even from rent), sales taxes, and other regulations (car registration, etc.). Not to mention the higher cost of goods due to higher regulations like gas, etc. Lots of people don’t ever work and have everything paid for. They live in just as good conditions as anybody that works hard (AC, internet, car, phone, etc.).

[Anonymous]

One more thing lol

@Kricket

You mentioned the 2nd amendment! I am for guns, just cannot afford to buy one right since they are EFFING expensive lol My only concern is, if a loony like that guy in Colorado could purchase that amount of ammunition, then who is to say some “poser American” terrorist could not get their hands on the same thing. I think NRA…..well, I wont say all members but a good portion of them could care less.

We need to make sure American citizens at least are the ONLY ones who can purchase weapons. God forbid some one who really HATES Americans can do exactly what that guy did.

[Mr. Mini]

@Newbie – Romney paid more money in income taxes last year than you will pay in your entire life. You should write Governor Romney a thank you card for paying for all of the government services that I am sure you enjoy (and likely feel entitled to). The top 1% of wage earners pay close to 37% of all taxes. The top 5% pay close to 60% of all taxes. Let's have a real discussion about who is and who is not paying their fair share in taxes. The bottom 50% of earners pay essentially no income taxes and then bitch and complain about high wage earners not paying their fair share. *Facepalm!*

[mla1169]

Ohhhhhh it's Occupy A71! Less smelly (only slightly) than occupy wall street. Easy to tell who gets their talking points from Facebook lOl!

FAR- 77
AUD -49, 71, 84
REG -56,75!
BEC -75

Massachusetts CPA (non reporting) since 3/12.

[Anonymous]

“Romney paid more money in income taxes last year than you will pay in your entire life. You should write Governor Romney a thank you card for paying for all of the government services that I am sure you enjoy (and likely feel entitled to). The top 1% of wage earners pay close to 37% of all taxes. The top 5% pay close to 60% of all taxes. Let's have a real discussion about who is and who is not paying their fair share in taxes. The bottom 50% of earners pay essentially no income taxes and then bitch and complain about high wage earners not paying their fair share. *Facepalm!*”

One year does not account for the YEARS of not paying taxes…if he did then he would not have a problem with releasing the tax returns from 1999-2009. I mean the GOP was just bitching about Obama not being American b/c he is from Hawaii! Hawaii is part of the US, c'mon! They demanded that Obama release his Birth certificate, did he not? lmao Some GOP members need to retake Geography lol Seriously!

Romney is just a prime example of those who are rich do not have to follow the same rules like middle class workers. Just let me try to evade taxes and see if I do not end up in prison.

And believe me when you are worth 250+million in assets, I would GLADLY pay 2-4 million in taxes, that's like me wanting to withdraw $250 from the bank and having to pay a $3 convenience fee. I wast $3 at least once during the week, I could care less.

Why do you think those Super Pacs will write million dollar checks to Romney? Well, b/c to them it is a ‘small' investment for a BIGGER savings, like NO TAXES! Like the whore, Oh I mean, Jenna Jameson said, “when you are RICH, you want a Republican in office!” Its true! The Queen of Porn is onto something :)LOL

Hahahaha I cant I cant!

I know you're a VERY far right Republican but you cannot tell me that the Rich play fair…hell, Kricket is the first one on here to make a legitimate claim on paying taxes.

There needs to be a SET percentage for EVERYBODY. We have to be like parents, everyone gets the same amount, so none of the kids are whining about “she got more than me!” “He has 2, I only got one!”…Nope you all get the same…..all you taxpayers pay the same! No “exceptions” or what they call them, “loopholes”.

[Mrs 300]

Yeah, but Mr Mini, his tax liability was reduced because he gave away millions to qualified charitable organizations and that just isn't fair!!!

*Dripping with sarcasm*

REG - 80 (Becker only)
BEC - 76 (Becker only)
AUD - 71, 76 (Becker only)
FAR - 65, 74, 81! (Becker, Wiley Test Bank, Ninja notes & Audio)

CPA Class of 2012 🙂

[mla1169]

Omg a set percentage for everyone? You can't possibly want that. Let's say you make $30k now you pay $0 in income tax. You're willing to scrape together $3k a year and take food off your table? I didn't think so…,.

FAR- 77
AUD -49, 71, 84
REG -56,75!
BEC -75

Massachusetts CPA (non reporting) since 3/12.

[Anonymous]

https://www.washingtonpost.com/blogs/ezra-klein/wp/2012/08/02/why-the-romney-tax-plan-wont-help-economic-growth/

🙂 Enjoy

Damn it Paul, why couldn't you hang in there longer?! Lol

What I love about the primaries, all the candidates poked holes through Romney's stories like a sieve. A sieve he is having trouble patching…

https://www.washingtonpost.com/blogs/ezra-klein/wp/2012/08/02/romneys-defense-of-his-tax-plan-doesnt-add-up/

The posters make some great claims as well!

[jeff]

A couple of points …

1. If you have proof that Romney evades taxes (tax evasion is illegal … tax planning is not) – I believe the IRS has a cash reward available.

2. $3-4MM in taxes on $250MM income? Yes please!!!

3. Flat tax?? Everyone pays the same … everyone pays their fair share?? I agree!!! Yes please!!!

4. Jenna is small fries compared to the huge money flowing in from George Soros … Hollywood … etc.

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[Mr. Mini]

Citing articles from the Washington Post is like citing articles from The Onion.

https://www.theonion.com/articles/obamas-deficitreduction-plan-includes-spending-cut,20195/

[Anonymous]

😮

[Anonymous]

mla1169 Its about being FAIR. (Its fair and unfair at the same time)

A lot of the top earners bitch and moan about “fair shares”, no one can complain if we ALL pay out air share.

Keep in mind: You pay taxes on the income AFTER the 250k threshold. So lets say you make 270k+ you'd pay on the 20k not the other 250k…which is what the tax break would allow BUT the top earners will not let that happen UNLESS they get that additional break, the “claim” it would help them create jobs.

Congress should allow them to have the tax break for one year, and then set a project job growth for that year (since giving them the “tax break” would allow them to “invest” and create jobs)*dripping with sarcasm*. If job growth doesn't meet the quota, it just proves to the middle class the lack of integrity top earners have.

But there also need to be a reform overhaul…doing such is a challenge b/c people don't like change. It is a proven fact, when you have your habits, Im sure you don't want someone changing them.

This is the gridlock we are in…Low earners pay less and the top earners complain b/c they do.

The REAL problem is that people either do not realize that we are all INDIRECTLY connected to one another. It's the truth! Why some Republicans do not want to admit this behooves me.

Those who invest in businesses STILL NEED middle class workers to work for them. Without them, the CEOs better start rolling up their sleeves and “Running their business”.These workers grow the economy, why is this so hard to understand? I do not know why.

We have the tea partyers that throw a wrench in everything, Dems and some Reps are WILLING to compromise on things to get the economy going! We need to get rid of the TP. Those who are going to suffer are not the top earners who pay “more” in taxes, its going to be you, the middle class.

And even if you are being sarcastic Ms 300…it is true. You identified one of many loopholes being used.

Pay millions in charities and get it back with tax credits, so its like you're not paying much of anything. My charities wouldn't get me really anything in tax credits but for someone like Romney 🙂

[Anonymous]

@Mr Mini

I feel the same way when I am watching Foxnews, why they include “news” in their title beats me lol

Its quite amusing but I like to read articles more so to read the comments underneath. That is where the true thinkers are. Whether they agree with me or not, people make some legitimate claims. Maybe they could run the legislative branch, I'm sure they would do a better job.

@Jeff

“1. If you have proof that Romney evades taxes (tax evasion is illegal … tax planning is not) – I believe the IRS has a cash reward available.”

That is why we call them “legal loopholes”

I think Romney is just being greedy, he doesn't want us lower wage earners to get a slice of the “Not Paying Taxes This Year” pie! So not fair! This has to be the reason why he wont release those returns from 1999-2009!

And yes I am with you all the three reiterated points you made. Fair is fair!

For example, when you go to the grocery store the food prices are SET for EVERYBODY. Not one price if you make 30k or a different price if you make 300k. It's the same.

[jeff]

Romney's 99-09 tax returns are as irrelevant to the future of the U.S. as Obama's college records.

True?

How easily we take our eye off the ball …

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[Anonymous]

We should bring in a Chinese guy to be our next President.

[littlenumberrobot]

I am new to all of this. Getting a real job out of college introduced me to both preparing tax returns and paying my own. Grew up with conservative parents, so I have that mindset, but I am learning more on my own now with real life experience(listening to someone else talk about poilitics is different than seeing it affect my own paycheck). Being in tax at my firm, I see W-2's have withholdings more than my annual salary. I have seen the following story float around in emails, not sure where it came from though it would be appropriate for this thread. It made me think a bit more about the whole tax structure.

“Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this:

The first four men (the poorest) would pay nothing. The fifth would pay $1. The sixth would pay $3. The seventh would pay $7. The eighth would pay $12. The ninth would pay $18. The tenth man (the richest) would pay $59.

So, that’s what they decided to do.

The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve. “Since you are all such good customers,” he said, “I’m going to reduce the cost of your daily beer by $20.” Drinks for the ten now cost just $80.

The group still wanted to pay their bill the way we pay our taxes so the first four men were unaffected. They would still drink for free.

But what about the other six men – the paying customers? How could they divide the $20 windfall so that everyone would get his ‘fair share?’

They realized that $20 divided by six is $3.33. But if they subtracted that from everybody’s share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man’s bill by roughly the same amount, and he proceeded to work out the amounts each should pay.

And so:

The fifth man, like the first four, now paid nothing (100% savings).

The sixth now paid $2 instead of $3 (33%savings). The seventh now pay

$5 instead of $7 (28%savings). The eighth now paid $9 instead of $12 (25% savings). The ninth now paid $14 instead of $18 (22% savings).

The tenth now paid $49 instead of $59 (16% savings). Each of the six was better off than before. And the first four continued to drink for free. But once outside the restaurant, the men began to compare their savings.

“I only got a dollar out of the $20,” declared the sixth man. He pointed to the tenth man, “but he got $10!” “Yeah, that’s right,”

exclaimed the fifth man. “I only saved a dollar, too. It’s unfair that he got ten times more than I did!” “That’s true!!” shouted the seventh man. “Why should he get $10 back when I got only two? The wealthy get all the breaks!” “Wait a minute,” yelled the first four men in unison.

“We didn’t get anything at all. The system exploits the poor!”

The nine men surrounded the tenth and beat him up.

The next night the tenth man didn’t show up for drinks, so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something important. They didn’t have enough money between all of them for even half of the bill.”

Back to work I go………………

CA CPA - All because of the journey listed below
-----------------------------------------------------------------------
FAR - 53('10), 8/25/12 79 PASSED!
REG - 66('11), 69('12), 12/06/12 77 PASSED!!
BEC - 58('10), 74('12), 01/05/13 77 PASSED!!!
AUD - 43('11), 66('12), 69('13), 74('13) 7/29/13 85 PASSED!!!!!

(Combinations of Roger, Yaeger, Wiley Book, Wiley TB, & NINJA Notes)

Ethics 90%

[Author]

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