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Finally, the third and most important aspect is that conservative tax policy is also a huge contributor to this income tax story.
conservatives want lower income taxes on rich people, but when conservatives go to the American people to sell lower taxes, they say lower income taxes for EVERYONE.
This means that every time conservatives lowered the income tax bill of the well to do, they lowered the income tax bill of everyone else, this resulted in fewer people paying federal income taxes, which greatly contributed to the reality we have today.
Ok, then lets go with higher taxes for "everyone". At least everyone will pay into the system they use. Everyone will pay for the roads and infrastructure.
OP and CNBC are claiming that people earning $30,000 a year are part of the put-upon, oppressed and overtaxed rich. People shouldn't complain about wage stagnation because they're already rich.
Well, no one in America is poor...they are just temporarily disgraced millionares.
Quote:
Originally Posted by EddieB.Good
After years of people pointing out that most Americans pay more than JUST INCOME TAXES, it's amazing to see the same clown show propping up more of the same half-truths.
Wingnut zealots don't care about truth. They are there to start a conflict in order to have their beliefs tested constantly so the conflict never stops. This faith in things that have been disproven over and over has no grounding, but as long as there is conflict they are too busy for the introspection to see how hollow their lives really are.
It does not look to be getting better. The CBO said that since 2010, new taxes have been added which will raise rates for everyone, with the biggest increase hitting the 1-percenters. They could end up with their highest federal tax rate since 1997 this year.
I remember the horrors of that high tax year of '97. It was hell. We had to cut the servants' pay to minimum wage (or was it minimum wage already?)
Please help! I'll be the one with the big sign, "Will work for derivatives!"
You can do whatever you want with statistics like this. In this case they added all the money going to SS recipients in the bottom 40% along with EIC, Child Tax Credit, disabilities etc. This is just another version of Romney's 47% dont pay taxes and then he discovers its a good part of the Tea Party base thats in that 47%.
This says that the top 40% of wage earners pay 106% of income taxes. You only need to earn $32,000 a year to be in the top 40% of income earners in the United States. Heck, only 25% of people in this country have incomes of more than $50,000/year. Does CNBC and OP seriously consider a $15/hour wage "wealthy?"
This has got to be one of the most ridiculous things I've read all week. And wow, the comments section on CNBC makes the posters around here seem like geniuses.
If that does not show the wage stagnation of the last 30-40 years in this country than I don't know what does.
The fact that $32,000 puts you in the top 40% of wage earners in the country should scare any rationally thinking person. Especially if you're a mom or dad.
And of course the top 1-20% will pay the bulk of taxes. The top quintile is the only one who has seen their wages keep up with inflation. The bottom of the top 20 percent less so. And the top 20% of households also own 80% of the wealth in the whole country. Meanwhile, inflation adjusted, the rest of the country's income has declined. And don't let the government lie to you about that.
So of course the people with the great bulk of wealth and most of the income will pay most of the FEDERAL income taxes. Who else will pay them? People who need food stamps to eat? Now of course most other taxes are regressive and the poor do pay them and it hurts them a lot more than Federal income taxes hurt the wealthy.
And this also goes back(the tax refunds) to what I've said on another thread. The serfs will be sheltered, fed, clothed and given necessary medical care. If not through gainful employment with reasonable benefits than through taxes. Either way the "job creators" will pay. There's no way around it. The powers that be don't want revolution, at least not yet, and they don't want mass murder and genocide, at least not yet.
Use the right terminology. Since the US uses progressive income tax, there is no way the top income earners won't pay a larger percentage of the income they earn which means the more you earn the higher percentage of your earnings the government takes.
I am using the right language. Yes that is what the words "progressive income tax" means.
To me typing the words "progressive income tax" and then typing top income earners pay a larger percentage of the income they earn is redundant.
Excellent! When is IRS gonna refund all the federal income taxes I've paid over the years? And I'm perfectly OK with getting just those taxes back. They can keep the state and local taxes.
If that does not show the wage stagnation of the last 30-40 years in this country than I don't know what does.
The fact that $32,000 puts you in the top 40% of wage earners in the country should scare any rationally thinking person. Especially if you're a mom or dad.
And of course the top 1-20% will pay the bulk of taxes. The top quintile is the only one who has seen their wages keep up with inflation. The bottom of the top 20 percent less so. And the top 20% of households also own 80% of the wealth in the whole country. Meanwhile, inflation adjusted, the rest of the country's income has declined. And don't let the government lie to you about that.
So of course the people with the great bulk of wealth and most of the income will pay most of the FEDERAL income taxes. Who else will pay them? People who need food stamps to eat? Now of course most other taxes are regressive and the poor do pay them and it hurts them a lot more than Federal income taxes hurt the wealthy.
And this also goes back(the tax refunds) to what I've said on another thread. The serfs will be sheltered, fed, clothed and given necessary medical care. If not through gainful employment with reasonable benefits than through taxes. Either way the "job creators" will pay. There's no way around it. The powers that be don't want revolution, at least not yet, and they don't want mass murder and genocide, at least not yet.
It also shows the inflation figure is bogus as with with COL raises pegged to an artificially low number.
And when the number gets too high the government finds a cheaper item to take it's place.
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