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Millionaires and billionaires pay a 9% - 17% federal tax rate.
And Americans who make $100,000 a year pay a 30%+ federal tax rate.
The person earning income of $100,000 a year is a working man with a W2 form, the millionaire is not being paid an income, your own link tells us that truly wealthy income comes from investments—long term capital gains and dividends; they aren't wage earners like the guy earning a $100,000 salary.
But my friends who make around $100,000 are paying 30%+ federal tax rates.
But you republicans are not satisfied with the above tax rates. Republicans want 0% tax rates on capital gains (so billionaires and millionaires will get 0% federal tax rates.) The following 50 second Youtube link shows republican politicians trying to get 0% tax rates for millionaires and billionaires
It's people like your buddy that cannot do much for Obama so it's people like him that Obama wants to raise taxes on, while people like Buffett get billions in crony capitalist deals from the likes of Obama.
You said above that Americans who make $100,000 a year pay a 8% federal tax rate.
I feel sorry for anyone who believes anything you say. My cousin and my best friends dad make around $100,000 a year, and they both pay 30%+ federal tax rates.
huh???
100k puts you in the 25% or 28% brackets (depending on whether single or married) which means you will pay LESS that that
not only that but taxes are based on your TAXABLE income...which means even though you might make 100k, after the standard/itemized deduction and the personal expemption(s) you would be taxed on 85k....which puts you in the 25% brackets...with an actual tax in the 15% range....then you have all the deductions and payments which can easily bring you down to the 10% or less rate
The person earning income of $100,000 a year is a working man with a W2 form, the millionaire is not being paid an income, your own link tells us that truly wealthy income comes from investments—long term capital gains and dividends; they aren't wage earners like the guy earning a $100,000 salary.
It's people like your buddy that cannot do much for Obama so it's people like him that Obama wants to raise taxes on, while people like Buffett get billions in crony capitalist deals from the likes of Obama.
Seems the democrats on CD hve forgotten the Democrats in Congress unequivocally rejected the Buffet bill!
InformedConsent says that Americans who make $100,000 a year pay a 8% federal tax rate.
Is there any forum member here that makes around $100,000 a year that pays 8% to the IRS?
I know you dream about it, but forum members here who make $100,000 a year are sending a check to the IRS so big it hurts.
You could get income taxes on $100,000 down to near 0% if you are very charitable, have a two or more dependants, and a nearly unaffordable mortgage. It's doable, but you'd have to have an expensive life to make it possible.
What's laughable is the 22% people earning $1.3 million + are supposedly paying. Anyone earning that kind of money and paying that much in taxes should fire their accountant immediately.
Anyway, this is coming from Tax Foundation analysis of raw IRS data so I'm guessing there's just a little bit of some skewing going on.
Wow, so the "rich" includes the top 40% of incomes?
Not a huge feat, that, considering the median household income in this country is a paltry $50k or so.
And why should we care that the "rich" pay more anyway? Is it more unjust that the rich pay more taxes, or that they have been the only group to enjoy real income growth at ALL the past 30 years or so? That the rich have experienced EXPONENTIAL income growth vs. stagnant or declining wages for the middle and lower classes?
Is it more unjust that they pay a higher MARGINAL tax rate while they control vastly disproportionate amounts of all wealth, assets and property in this country?
Honestly, a rich man crying about his taxes garners ZERO f**** from me. You own the country and the politicians, you can suck it up and pay for it all too. Go whine about it down at the yacht club and spare us your tacky complaining.
Do you care about your friends and family who don't have health insurance?
Do you care about American workers making min wage who live in poverty?
Do you care about Americans making $100,000 a year sending "painful" $30,000 checks to the IRS each year?
No. Today you just care about telling the whole world "the rich pay all the taxes."
Why not stop glamorizing and protecting the rich, and join Americas low income and middle class workers. Then we can make these billionaire bastards who are paying 14% federal tax rates, pay the same 30%+ tax rates that regular Americans are paying.
QE began under the Bush Admin. Bernake transcended two administrations. FRB does not answer to the President, any president.
What should the Obama admin have done to fix the problem?
It started under Bush as a emergency action during the financial crisis, and the recession ended in June 2009.
Like everything else Bush started, when Obama took it over he put it on steroids - with no results.
Obama should have freed up the market to allow it to grow, but instead he put his foot on it's throat, and with the ACA and new EPA regs he is in the process of slitting it's throat.
True, mam. Also, when taxes go up, the middle class inevitably becomes the greatest percentage of contributors to the tax coffers as they are the biggest group of the three categories of taxpayers.
When was the last time federal income taxes increased on the middle class?
Most folk are paying a lesser effective tax rate than in any time in modern history.
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