Myths, Lies, and Downright Stupidity 3 (Republicans, taxes)

John Stossel takes a look at several popular beliefs: getting cold will give you a cold; money can buy happiness; chemicals are killing us; we're drowning in garbage, and more. These and more myths are answered when John Stossel puts conventional wisdom to the test.

Category:

Education

Tags:

• Stossel
• Republicans
• government
• taxes

[MrBWB]

Ron Paul would cut the size of government...

[ndes0532]

".........but I can't."

That was so awesome

[Spjungen]

Ugh I WISH Reagan had actually cut government...such a good guy and his message so powerful, so charismatic, so anti-soviet...a man after my own heart.

*sigh*

[Steve83B]

@wcropp1 Long term capital gains is @ 15% for the wealthiest and 0% for those in the smallest income brackets. But short-term easily and quickly gets up to 35%. Due to the risk qualifications for short term trading, mostly wealthy people paying the higher rates.

[emantabrizi]

I cannot stand Al Sharpton. Why does he matter, again?

[politicalmyincorrect]

It's funny because Al Sharpton, a multi-millionaire "holy man", is being audited for tax evasion. 

[spikedpsycho]

@wcropp1 So what, many taxes are based on what people purchase, you buy a meal at McDonalds: sales tax. You may have lots of money but you don't have to buy anything. If you rent property instead of buy a house property taxes are irrelavent.

[wcropp1]

The part about taxes is a little misleading--though Stossel is correct if you're referring *specifically* to income taxes, but that's not the only form of taxation. Non-labor sources of income, such as capital gains, are capped at a fairly low amount relative to what many people make. Payroll tax is regressive and accounts for roughly as much of the federal budget as the income tax does. Individually wealthy people aren't the problem. Finance capital is.

[ashatbulaparanormal]

@snowstorm9091moua sure they do!! vote for us and put more money in our pockets.

[dnganga]

What in the heavens does the dpt of interior do? One could make a tortured excuse/explanation for the EPA and dpt of Labour and dpt of Agriculture, but Interior?

[kmcl11]

Alaska got more money per person than any other state? wtf