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Maybe the very greedy and envious.
Still, there are millions of US children from poor families who go to school hungry. That's just unacceptable for a rich country.
No, it's unacceptable behavior on the part of the EXTREMELY irresponsible parents.
There is absolutely NO excuse for the fact that those receiving public assistance have a birth rate 3 times that of everyone else. That's why we have so many hungry kids.
Can't afford to have kids? Use contraception or keep your legs closed.
You should stop pretending the payroll tax doesn't exist and isn't collected only on certain types of income. The fact is the richer you are the lower the % you pay in payroll tax and if all of your income is derived from capital gains then you pay 0. Not to mention your effect tax rate on your income from long term capital gains is 0 for the first 34,000 and only 15% on everything above that. I would imagine you cannot exempt the first 34,000 of your income from taxes and pay a reduced rate on anything you may make that is above that.
How you like them facts.
Your post is TOTAL BS.
Look at the CBO's most recent historical data on the total effective federal tax rates paid by the various income groups:
The top 1% pays a tax rate of 31.2%, while the middle quintile pays a tax rate of only 14.2%. That's LESS THAN HALF the total federal tax rate the rich pay.
The top 1% pays a tax rate of 31.2%, while the middle quintile pays a tax rate of only 14.2%. That's LESS THAN HALF the total federal tax rate the rich pay.
As I said you all forget about payroll taxes scroll down your graphs and you will see a much different story.
The top 400 people have more wealth then the bottom 150 million. The top 1% also have 42%+ of the wealth. So you have a group of people with 42% of the resources that only pays 31.2% of the bills. Theoretically if all things were equal they would pay 42%. The reason they do not is because of the tax reasons stated above. This would not occur if even under a flat tax because under a flat tax on all income if everyone paid X% they would pay in closer proportion to their wealth. Now if you earn money your by working, as most non-wealthy people do, you pay a much higher % in payroll taxes and income taxes then someone who is a coupon clipper, like many of the very wealthy.
"Increase in Capital Gains and Dividend Tax Rates. The tax rate reductions for long-term capital gains and dividends is scheduled to expire in 2010.
In 2011, the maximum long-term capital gains tax rate goes back up to 20% from 15%. A lower 10% tax rate is used by individuals to the extent that they are in the 15% tax bracket. Their long-term capital gains had been tax free since 2008.
In 2011, dividend income (other than capital gain distributions from mutual funds) is taxed as ordinary income at your highest marginal tax rate."
Now everything they say will happen in 2011 didn't because the Bush tax cuts were extended. I stand by my original point about your average Republican being stupid when it comes to taxation.
Last edited by Randomstudent; 08-29-2011 at 10:55 PM..
First of do you even know the differnce between % of income paid and % of total revenue. The middle quintile pays 14.2% of the total taxes but they do not pay a rate of 14.2 percent.
Wow. You are in WAY over your head. Do you even have the slightest idea what tax RATE means?
Yes, in fact, the middle quintile DOES pay a total effective federal tax RATE of only 14.2%. Look again at the CBO's data. The title of the chart is Total Effective Federal Tax RATE.
Quote:
the middle quintile has no where near the wealth of the top quintile. The top quintile has.
The top 400 people have more wealth then the bottom 150 million. The top 1% also have 42%+ of the wealth.
You seem to be unaware that INCOME is taxed, not wealth. And the CBO's data stands. The top 1% pays a total effective federal tax RATE of 31.2%. The middle quintile only pays a total effective federal tax RATE of 14.2%, LESS THAN HALF the tax rate the rich pay.
Wow. You are in WAY over your head. Do you even have the slightest idea what tax RATE means?
Yes, in fact, the middle quintile DOES pay a total effective federal tax RATE of only 14.2%. Look again at the CBO's data. The title of the chart is Total Effective Federal Tax RATE.You seem to be unaware that INCOME is taxed, not wealth. And the CBO's data stands. The top 1% pays a total effective federal tax RATE of 31.2%. The middle quintile only pays a total effective federal tax RATE of 14.2%, LESS THAN HALF the tax rate the rich pay.
First I misread the graph my appologies by that still doesn't change the fact that that graph has absolutely nothing to do with what you quoted me saying.
Might I recommend you scroll down your own graphs as y'all act like payroll taxes dont exist. Those CBO graphs prove my point as the effective payroll tax on the middle is 9,6% and is only 1.6% for the top. Furthermore none of that refutes what I said about captial gains taxes. The fact is wealth isn't taxed. But wealth is the best indicator of capital gains. Once more those 1% who are taxed include people paying the higher earned income rates as well as the lower capital gains rates. If you have someone who is in the top 1% who is working they will pay far more then someone in the top 1% who is a coupon clipper.
You have not refuted a single point I have made. All you have done is gone off on a tangent.
Last edited by Randomstudent; 08-29-2011 at 11:10 PM..
Scroll down your own graphs y'all act like payroll taxes dont exist.
Do you have a reading comprehension problem?
Add the tax rates of the various federal tax rates in the subsequent charts to get the same tax rates as those in the Total Effective Federal Tax Rates chart.
Here, I'll help you...
Middle Quintile: 3% Effective individual income tax rate 9.4% Effective Social Insurance (payroll taxes) tax rate 0.8% Effective corporate income tax rate 0.9% Effective excise tax rate
Added together, it equals a 14.1% TOTAL effective federal tax rate. And with more accurate rounding of the CBO's extensive data, 14.2%. Hence the word TOTAL in the chart's title.
And again, 14.2% is LESS THAN HALF the total tax rate the rich pay.
With such a horrendous lack of understanding of what's going on in the world around you, PLEASE tell me you don't vote.
Add the tax rates of the various federal tax rates in the subsequent charts to get the same tax rates as those in the Total Effective Federal Tax Rates chart.
Here, I'll help you...
Middle Quintile: 3% Effective individual income tax rate 9.4% Effective Social Insurance (payroll taxes) tax rate 0.8% Effective corporate income tax rate 0.9% Effective excise tax rate
Added together, it equals a 14.1% TOTAL effective federal tax rate. And with more accurate rounding of the CBO's extensive data, 14.2%. Hence the word TOTAL in the chart's title.
And again, 14.2% is LESS THAN HALF the total tax rate the rich pay.
With such a horrendous lack of understanding of what's going on in the world around you, PLEASE tell me you don't vote.
It is you who have the reading comprehension problem. Please tell me how anything you have posted thus far has anything to do with the following quote which you responeded to. As I said you quoted me and then went off on some unrelated inexplicable tangent. Just like a typical rightwinger you have a talking point and then try to parrot in situations that have a remote connection to what is being discussed. As a result you end up looking like an idiot. Furthermore As I said the top 1% has a lot of people with earned income. The wealthiest 400 families do not. As a result those wealthiest 400 with an income made up of mostly capital gains pay an 18% rate as is noted in the OP.
Second because I know it will anger you I vote every time and live in a battleground state. How you like them apples. You on the other hand should perhaps consider passing on voting if all you can do is find one fact and then repeat it regardless of whether it has relevance to whats been said.
Quote:
Originally Posted by Randomstudent
You should stop pretending the payroll tax doesn't exist and isn't collected only on certain types of income. The fact is the richer you are the lower the % you pay in payroll tax and if all of your income is derived from capital gains then you pay 0. Not to mention your effect tax rate on your income from long term capital gains is 0 for the first 34,000 and only 15% on everything above that. I would imagine you cannot exempt the first 34,000 of your income from taxes and pay a reduced rate on anything you may make that is above that.
How you like them facts.
If that is too much let me make it really simple for you the top 1% includes people making 250K a year in salary. Those people are taxed at a higher rate because they earn their income. That is why the top 1% pays a higher tax rate. It is because people at the bottom of the top 1% are paying a high earned income tax rate. Now what about the cream of the top 1%. Many of those people do not work. they derive their income from long term capital gains. Long term capital gains is taxed at 0-15% depending on how much you make. Thus the highest rate you can pay on your long term capital gains is 15%. As a result the top 400 families who do not earn their income but rather aquire it through capital gains pay a much lower tax rate then the rest of the top 1%.
Last edited by Randomstudent; 08-29-2011 at 11:54 PM..
Second because I know it will anger you I vote every time and live in a battleground state. How you like them apples. You on the other hand should perhaps consider passing on voting if all you can do is find one fact and then repeat it regardless of whether it has relevance to whats been said.
Ask yourself WHY capital gains would be taxed at 15%... WHY would the government want to encourage investment in the American economy?
Keep in mind that that's 15%. Now add federal excise taxes and federal corporate income tax. They're STILL taxed at a HIGHER rate then the middle quintile.
With such a horrendous lack of understanding of what's going on in the world around you, you shouldn't be voting. Then again, the Democrats count on votes from gullible and easy to manipulate people like you. Look at how easily you all fell for Obama's 'Hope and Change' that was really just a scam to get you to elect the Wall Street banksters puppet.
It is you who have the reading comprehension problem. Please tell me how anything you have posted thus far has anything to do with the following quote which you responeded to.
You tried to claim the rich only pay a 15% federal tax rate. I posted the CBO's data that the top 1% pay a total effective federal tax rate of 31.2%, while the total effective federal tax rate the middle quintile pays is LESS THAN HALF of that at 14.2%.
Are you moving the goalpost from Obama and the Dems' claim that 'the rich' is everyone earning $250k and over? Is it now only the top 400?
Most non-rich people, including those "not paying anything" pay a fair amount in payroll tax, something people living off capital gains avoid. Furthermore the constitution specifically allows for taxes on income no matter what the source. The stupidity of rightwings in referencing the Constitution when they are saying things that have nothing to do with the Constitution is astouding.
Quote:
Originally Posted by Randomstudent
You should stop pretending the payroll tax doesn't exist and isn't collected only on certain types of income. The fact is the richer you are the lower the % you pay in payroll tax and if all of your income is derived from capital gains then you pay 0. Not to mention your effect tax rate on your income from long term capital gains is 0 for the first 34,000 and only 15% on everything above that. I would imagine you cannot exempt the first 34,000 of your income from taxes and pay a reduced rate on anything you may make that is above that.
How you like them facts.
oh please
the bottom 50% of EARNERS pay nearly nothing in federal income tax, and manY get back MORE than they originally had deducted from their checks back to include payroll
I earn 60k and get EVERYTHING back fed income and fed payroll
which I have shown line by line here:
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scroll down your graphs and you will see a much different story.
