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Old 10-10-2011, 04:34 PM
 
Location: NC
4,100 posts, read 4,502,611 times
Reputation: 1372

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Quote:
Originally Posted by SoCalCroozer View Post
Oh what garbage. Do you spew this crap in public among intelligent informed fellow Americans? Who pays what taxes is a moot point when 20% of the population owns 97% of all private wealth in this country.
thank you
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Old 10-10-2011, 04:35 PM
 
2,409 posts, read 3,034,746 times
Reputation: 2032
Quote:
Originally Posted by swagger View Post
Google. About 10 seconds.

The Tax Foundation - Summary of Latest Federal Individual Income Tax Data

This is what's wrong with the kids these days. They have the most amazing tools available to them, but they're too lazy to spend a sixth of a minute to use them.

The top 1% pay 38.02% of the income tax collected. WORTH BILLIONS
The top 10% pay 69.94% of the income tax collected. WORTH MILLIONS
The top 25% pay 86.34% of the income tax collected. WORTH A MILLION
The top 50% pay 97.3% of the income tax collected. 97.3%
The bottom 50% pay 2.7% of the income tax collected. WORTH LESS THAN 20K

That 1% sure is evil! Blast them and their piddly 38%!
Why the hell should someone making less than $20K or whatever the bottom 50% makes be taxed at the same rate as a billionaire? LMAO! Makes no sense.
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Old 10-10-2011, 04:41 PM
 
Location: the very edge of the continent
88,684 posts, read 44,444,073 times
Reputation: 13583
Quote:
Originally Posted by RCCCB View Post
The top 10% pays 70% of the taxes. The bottom 90% need to pay their fair share IMO.
Absolutely agree!
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Old 10-10-2011, 04:41 PM
 
Location: SWUS
5,419 posts, read 9,172,583 times
Reputation: 5850
Quote:
Originally Posted by SoCalCroozer View Post
Why the hell should someone making less than $20K or whatever the bottom 50% makes be taxed at the same rate as a billionaire? LMAO! Makes no sense.

If I understand correctly, it's not that they are taxed at the same rate, it's that people with more money can afford to find more loopholes. Steve Jobs was worth nearly $9 billion, yet his actual pay from Apple for a year was one dollar... despite having tons and tons of assets. There often is much less "income" coming in from employment than there is money coming in from capital gains. Capital gains are taxed at a lesser rate.


My understanding, anyway. I do not profess to be an expert, but perhaps we should make it illegal for people to own or partially own companies
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Old 10-10-2011, 04:42 PM
 
Location: the very edge of the continent
88,684 posts, read 44,444,073 times
Reputation: 13583
Quote:
Originally Posted by SoCalCroozer View Post
Why the hell should someone making less than $20K or whatever the bottom 50% makes be taxed at the same rate as a billionaire?
Because they receive the same protection, and even more government benefits and services than do the billionaires.
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Old 10-10-2011, 04:43 PM
 
Location: SWUS
5,419 posts, read 9,172,583 times
Reputation: 5850
Quote:
Originally Posted by Nafster View Post
Oh poor you.

I feel so sorry for you that you feel you're paying to many taxes on your $1,000,000 + pay check every year.

I'm so sorry that you actually only get to make $950,000 instead of $1,000,000. Let's start a fundraiser to get you your $50,000 back!

*If you're going to make stupid claims, at least cite a source.

Thanks.

It'd actually be taxed down FAR more than $50k... that'd be in the top income tax bracket I think, so they'd be getting taxed closer to 35-40%. That's MAYBE $700k brought in after doing a million dollars' worth of work. How is that fair?
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Old 10-10-2011, 04:49 PM
 
29,981 posts, read 42,825,880 times
Reputation: 12828
Quote:
Originally Posted by Nafster View Post
Oh poor you.

I feel so sorry for you that you feel you're paying to many taxes on your $1,000,000 + pay check every year.

I'm so sorry that you actually only get to make $950,000 instead of $1,000,000. Let's start a fundraiser to get you your $50,000 back!

*If you're going to make stupid claims, at least cite a source.

Thanks.

It is obvious from you post that you likely don't pay federal income taxes or you would understand we have a progressive tax rate based upon percentages of income.

Quote:
Originally Posted by SoCalCroozer View Post
Why the hell should someone making less than $20K or whatever the bottom 50% makes be taxed at the same rate as a billionaire? LMAO! Makes no sense.
They are not taxed at the same rate. You also have to understand the differentiation between earned income vs. unearned income. Not all income is created equal.

Watch private investment and capital liquidity plummet if the statists ever achieve their dream of treating capital gains the same as earned income.
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Old 10-10-2011, 04:50 PM
 
Location: Tyler, TX
23,611 posts, read 23,913,776 times
Reputation: 14928
Quote:
Originally Posted by SoCalCroozer View Post
Why the hell should someone making less than $20K or whatever the bottom 50% makes be taxed at the same rate as a billionaire? LMAO! Makes no sense.
Why shouldn't they?

By the way, "worth" and "makes" are two different things. I know from reading your other posts today that you're very aware of this - please don't try to mislead our dear readers into espousing your position. Be honest, or don't be at all.
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Old 10-10-2011, 04:53 PM
 
Location: On the Chesapeake
45,046 posts, read 60,086,133 times
Reputation: 60608
Quote:
Originally Posted by SoCalCroozer View Post
Why the hell should someone making less than $20K or whatever the bottom 50% makes be taxed at the same rate as a billionaire? LMAO! Makes no sense.

The "estimates" you included in the piece you quoted are off according to this:

National Taxpayers Union - Who Pays Income Taxes?

The top 10% has an AGI of @ $160K.
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Old 10-10-2011, 05:29 PM
 
2,409 posts, read 3,034,746 times
Reputation: 2032
Quote:
Originally Posted by North Beach Person View Post
The "estimates" you included in the piece you quoted are off according to this:

National Taxpayers Union - Who Pays Income Taxes?

The top 10% has an AGI of @ $160K.

Haha wow that means an even SMALLER TINY percentage of elite control most of the wealth in this country. And that means the bottom 90% are a lot poorer than $20k. LMAO! Thanks good info!
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