► Should Billionaire John Paulson be taxed just like y’all? Print E-mail

Should Billionaire John Paulson be taxed just like y’all?

 
Many Republican Presidential candidates have vowed to reduce the capitol gains tax from 15% to Zero if elected. For the most part the only folks who earn enough to live on income derived from capitol gains are millionaires and billionaires.
 
The Republican candidates would have us believe that billionaires are the quintessential “job creators.” This claim is pure hyperbole (BS)!
 
John Paulson is a billionaire Hedge Fund operator. Johnny’s meager earnings for 2010 were $4.9 billion. Johnny’s income was taxed at a whopping rate of 15% verses (a) 25% for my grandson Greg, (b) 28% for my grandson Alex and 33% for my son-in-law Dave.
 
Textbox 1 below shows Paulson’s income was equal to or more than the annual household income for all households in various cities. Textbox 2 compares Paulson’s income and tax liability against several states.
 
Once the Republicans take over the Whitehouse and U.S. Senate, Paulson’s federal tax liability for 2013 will decrease to a manageable and equitable Zero Percent.
 
Hot damn Delmas! That’ll mean that Johnny will be able to create lots of new jobs, right? Here tell he’s gonna need at least 7 more servants for his luxury homes and at least 4 or 5 folks to maintain his yacht and drive his multiple limousines. Goshes and Gollies and Gee Whillickers, sure hope I lands one of those $7.50 an hour jobs Randall.
 
And who do y’all think will have to pay the $735 million in federal taxes that Johnny ain't gonna be paying in 2013? It damn sure gonna be you! And its only fair since you ain't no Job Creator like Johnny Baby is.
 
And finally, Johnny the Super Patriot is a finalist for the “Leona Helmsley Tax Cheat” Award for 2011. Remember billionaire hotelier Leona when she rightfully said “Only the little people pay taxes.”
 
Textbox 1 – Paulson’s Income + Federal Taxes v. Cities
City
Median House-
Hold Income
Households
Total
Income
Est. Fed
Tax
Paulson
Fed. Tax
New Orleans
$36,258
113,935
$4.1 billion
$1.02 billion
$735 million
Toledo
$35,753
125,376
$4.9 billion
$1.22 billion
$735 million
Miami
$29,812
158,236
$4.7 billion
$1.17 billion
$735 million
Orlando
$43,196
95,126
$4.1 billion
$1.02 billion
$735 million
 
 
 
 
 
 
 
Textbox 2 – Paulson’s Income + Federal Taxes v. States
State
Median House-
Hold Income
Households
Total
Income
Est. Fed
Tax
Paulson
Fed. Tax
Alaska
$66,712
234,779
$15.5 billion
$3.87 billion
$735 million
Montana
$42,222
372,497
$15.8 billion
$3.95 billion
$735 million
North Dakota
$47,898
273,035
$13.1 billion
$3.27 billion
$735 million
South Dakota
$45,048
314,674
$14.2 billion
$3.55 billion
$735 million
Vermont
$51,219
250,375
$12.8 billion
$3.20 billion
$735 million
Wyoming
$54,500
208,629
$11.3 billion
$2.82 billion
$735 million
 
 
 
 
 
 

 

 
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