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Old 10-14-2018, 04:16 PM
 
Location: Wooster, Ohio
875 posts, read 651,855 times
Reputation: 1219

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https://www.bloombergquint.com/globa...-taxes-in-2016

Some highlights:
The top 1% paid more than the bottom 90%
The top 50% paid 90% of all income taxes
The top 0.001% (about 1400 people) paid 3.25% of all income taxes
The bottom 50% paid 3% of all taxes
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Old 10-14-2018, 04:25 PM
 
11,689 posts, read 16,437,401 times
Reputation: 16330
And that is what - news?
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Old 10-14-2018, 04:34 PM
 
Location: Aurora Denveralis
2,961 posts, read 1,007,246 times
Reputation: 3776
Quote:
Originally Posted by Threestep View Post
And that is what - news?
It is to those who think the "middle class" is carrying the US on its back.

Whatever "middle class" the speaker happens to consider himself part of, that is.

OTOH, this breakdown is used to make us weep for the poor, poor rich who sometimes have to part with 18% of their earnings each year.
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Old 10-14-2018, 04:51 PM
 
18,235 posts, read 11,645,412 times
Reputation: 11847
Quote:
Originally Posted by mshultz View Post
https://www.bloombergquint.com/globa...-taxes-in-2016

Some highlights:
The top 1% paid more than the bottom 90%
The top 50% paid 90% of all income taxes
The top 0.001% (about 1400 people) paid 3.25% of all income taxes
The bottom 50% paid 3% of all taxes
In other news water is wet.


While low to well into middle income persons pay tons of other taxes (FICA, sales, etc...) they don't pay income rates. Between Earned Income Credit and various other refundable (or not) deductions they actually get back a good amount of other rates/surcharges and other non income taxes they do pay.
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Old 10-14-2018, 04:53 PM
 
Location: NNJ
8,439 posts, read 4,653,285 times
Reputation: 9097
That's pretty obvious... Income taxation doesn't tell the whole story. At lower incomes an increasingly larger percentage of income goes to other taxes.
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Old 10-14-2018, 05:16 PM
 
Location: Truckee California
76 posts, read 16,237 times
Reputation: 157
We need data upon the percentage of income tax each paid versus their actual income.
Including capitol gains which is taxed at a hugely lower rate.

Totally different picture when real facts are involved.
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Old 10-14-2018, 05:57 PM
 
64,507 posts, read 66,075,955 times
Reputation: 42955
Capital gains are not always taxed at hugely lower rates . It depends on the amount of the gain . we paid 23.80% on a capital gain and that triggered the amt tax on all other income . I think it worked out to 29% from dollar one
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Old 10-14-2018, 09:48 PM
 
173 posts, read 50,237 times
Reputation: 515
Quote:
Originally Posted by Threestep View Post
And that is what - news?
The bottom feeders don't pay their fair share.
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Old 10-14-2018, 10:16 PM
 
Location: Aurora Denveralis
2,961 posts, read 1,007,246 times
Reputation: 3776
Quote:
Originally Posted by COJeff View Post
The bottom feeders don't pay their fair share.
You could define that, or just leave it all as a meaningless rant.
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Old 10-14-2018, 10:31 PM
 
1,461 posts, read 328,838 times
Reputation: 1663
Quote:
Originally Posted by Quietude View Post
You could define that, or just leave it all as a meaningless rant.
*Waits patiently for the mention of a flat tax*
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