LiberalViewer: Fox News Says Taxpayers Pay No Taxes?

[democracy1st]

Run time: 03:35 https://www.youtube.com/watch?v=HYKo_R8_DSY   Posted on YouTube: March 14, 2010 By YouTube Member: LiberalViewer Views on YouTube: 4198   Posted on DU: March 15, 2010 By DU Member: democracy1st Views on DU: 1998

 
OVER 100 MORE examples of Fox News Bias at http://www.youtube.com/view_play_list?p=A3BD2524FE99BD4D


If you thought Fox News would try to be more accurate in its business programming where misreporting is more likely to have financial consequences, you'll be disappointed by the false Republican talking point masquerading as news information I heard from Jonathan Hoenig, an Ayn Rand follower and author of "Greed is Good: The Capitalist Pig Guide to Investing," who appeared on the Fox News business program "Cashin' In" this weekend.

The Fox News clips in this video come from the program "Cashin' In" broadcast on March 13, 2010 (which I have not been able to find available online).



The audio clip of Eric Westervelt's National Public Radio story titled "Greek Workers Strike Over Austerity Plan" comes from the NPR webpage you can find at http://www.npr.org/templates/story/story.php?storyId=124559264



And, finally, the Social Security OASDI information about the limits on the amount of earnings subject to taxation for a given year that I show in this video comes form the webpage at http://www.socialsecurity.gov/OACT/COLA/cbb.html

[Tx4obama]

1. Great video! K&R n/t

[creekboy]

2. Niel Cavuto...

Runs Fox business. He is a world class idiot.

[ProfessorGAC]

3. Cavuto, Like Me, Has MS

So, it's hard for me to admit i wish him all the worse. I have sympathy and empathy for anyone who suffers from it. But, i wouldn't feel bad if his got worse.

He's not just a world class idiot; he's also a liar.
GAC

[Mumblefratz]

4. Excellent video, good work, K&R nt

[AlbertCat]

5. How many subsidized corporations paid a fair share of taxes?

Corporate welfare is tenfold the amount of personal welfare.


I once had some dim credulous Repug tell me that less than 50% of "taxpayers" pay 100% of taxes. I doubted him so he got indignant and shot back "What about 50% paying 100% do you not understand?" I said I understood what he said, I just didn't believe it. "I went to the IRS site.... it's there! It's on the IRS site. Go look it up." I said I would. what section was it under? "Huh?" I asked what heading was this info to be found under? The IRS site is a big site, y'know. What was this info under? He didn't know (because he obviously had never been to the IRS site). So when I got to a computer, I indeed went to the IRS site and discovered under the section labeled "Tax Gap"....

The main data is from 2001!!!! (so how can they know what's going on now? 9 years later?)

The % of unpaid taxes is(was) 16.3% That means 83.7% of taxes are paid....by all taxpayers. Not 100% by 50%.

The biggest gap is in under-reported taxes....from individual business income. Not those on welfare. (here's the chart: http://www.irs.gov/pub/irs-news/tax_gap_figures.pdf )

[butterfly77]

6. This greedy bastard comes on Fox ...

every week blaming the poor and minorities for all of the worlds' problems. He looks like the guy on mad magazine.

[davidhilton]

7. Fox business news has no obligations except to misinform their followers -

and get paid well while doing it.

[Plucketeer]

8. Fox Business News

Dedicated to giving viewers the business! :sarcasm:

[tclambert]

9. But if 36% of taxpayers pay no taxes, they would not be tax payers . . .

It does not compute. Norman, please correlate. Bleep, bleep, bleep, bleep, boooooooooop.

[Cicada]

10. "Don't pay taxes" meaning

The federal "personal income tax" reported via Form 1040 is for some offset by various credits, such as the child credit, earned income tax credit etc. But those who have their "personal income tax" reduced to zero still pay taxes - such as another "income tax" called the Social Security tax, the Medicare tax, and other taxes such as sales tax, gas tax, car tax, alcohol tax, real estate tax (including the amount their rent pays for the property tax liabilities of landlords), etc. The poor pay a high rate of their income in state and local taxes while the rich pay close to zero percent of their income for sales tax, car tax, property tax etc. It kind of evens out. Taking all taxes together, all fed taxes and all state and local taxes, tax liabilities are actually pretty close to flat as a percentage of income. So this "34% pay no taxes at all" is a scam. It ignores payroll taxes, excise taxes, sales taxes. personal property taxes, real estate taxes (passed through by landlords) etc.