A Graph They Don't Want You To See: Effective Tax Rates Of The Wealthy (interview, poll)

[padcrasher]

They want you to blame the budget deficit on your own middle class benefits and aid to poor people.

So please don't look at the prime reason for the budget deficit.

Tax cuts to the wealthy, the number #1 biggest reason for the deficit, thanks to right wing ideology.

Tax Rate for Richest 400 Taxpayers Plummeted in Recent Decades, Even as Their Pre-Tax Incomes Skyrocketed — Center on Budget and Policy Priorities

[mensaguy]

Originally Posted by padcrasher

They want you to blame the budget deficit and your own middle class benefits.

So please don't look at the prime reason for the budget deficit.

Tax cuts to the wealthy, thanks to right wing ideology.

Tax Rate for Richest 400 Taxpayers Plummeted in Recent Decades, Even as Their Pre-Tax Incomes Skyrocketed — Center on Budget and Policy Priorities

You're going to be severely chastised for telling the truth.

[to570717]

Republicans still ascribe to trickle down economics.......Poor and middle class Republicans think that they are on the verge of wealth if they just could get rid of all the other Poor and Middle class people out there.

It is clear the political divide is all about personal greed and empathy. If you are greedy, self centered and lack empathy for your fellow man you tend to fall to one side of the political spectrum. I work, save and live a very comfortable life. I have empathy for those who are not as fortunate as me. I would never take from them to gain more for myself.

[hotair2]

Originally Posted by padcrasher

They want you to blame the budget deficit and your own middle class benefits.

So please don't look at the prime reason for the budget deficit.

Tax cuts to the wealthy, thanks to right wing ideology.

Tax Rate for Richest 400 Taxpayers Plummeted in Recent Decades, Even as Their Pre-Tax Incomes Skyrocketed — Center on Budget and Policy Priorities

This is common knowledge for those who have common sense. The right is the modern day robber hoods...take from the poor to give to the rich.

[Rggr]

Originally Posted by padcrasher

They want you to blame the budget deficit and your own middle class benefits.

So please don't look at the prime reason for the budget deficit.

Tax cuts to the wealthy, thanks to right wing ideology.

Tax Rate for Richest 400 Taxpayers Plummeted in Recent Decades, Even as Their Pre-Tax Incomes Skyrocketed — Center on Budget and Policy Priorities

If the current Buffet Rule proposal were to be adopted, it would bring in an additional $70 billion per year. Any idea how that compares to the deficit?

I'm all for simplifying the tax code and making everyone pay, but the tax the rich mantra ignores the reality of our spending.

[Memphis1979]

Hell even Paul Ryan in an interview this morning said that tax loopholes for the wealthy need to be closed.

Of course that was immediately followed by "then we can lower taxes on everyone"

Tax cuts are spending, if spending isn't cut folks. A lesson the modern Republican party should learn.

[Frank DeForrest]

I'm all for everyone paying less in taxes with resulting smaller government.
Individuals spend their own money far wiser than our fedguv.

[Memphis1979]

Originally Posted by Frank DeForrest

I'm all for everyone paying less in taxes.
Individuals spend their own money far wiser than our fedguv.

But individuals, a majority of Americans, want social security and medicare saved with few if any changes.

If thats the case, and it is, then tax revenues will have to go up.

The problem is that the richest Americans, labeled "job creators", don't spend their money to create jobs. Middle class spending creates far more jobs then the richest 1 or 2% does.

This is part of the problem that we are now under. The middle class has a large tax burden, and the economy is stalled. One only need look at the post war boom that occurred after WWII. The middle class grew at rates far exceeding many expectations, and thats because they were spending money, could afford houses and all of the modern luxuries of the time. This is not the situation we find ourselves in today.

But if would simply balance our national budget, the money that the middle class and everyone has will be worth more, and renders the tax rates null. But we can't do that under the current tax and spending structure.

In poll after poll, the American people have spoken. Save social security, save medicare, cut defense, raise taxes on the rich to make up the difference.

Pretty simple, I'm not sure why Washington doesn't get it. (actually I do, they are beholden to the military industrial complex)

[theunbrainwashed]

Originally Posted by Frank DeForrest

I'm all for everyone paying less in taxes with resulting smaller government.
Individuals spend their own money far wiser than our fedguv.

Same here. I advocate no taxes on individuals.

Though, in keeping with the OP's article, you can tax the rich at 100% and not have any loopholes, and the rich will still evade the taxes . The keyword in the headline is income. The "rich" that the Left derides so much (and yet, admires at the same time like Buffet and Soros) DO NOT EARN INCOME. This is so elementary....

[marcopolo]

Originally Posted by padcrasher

They want you to blame the budget deficit and your own middle class benefits.

So please don't look at the prime reason for the budget deficit.

Tax cuts to the wealthy, thanks to right wing ideology.

Tax Rate for Richest 400 Taxpayers Plummeted in Recent Decades, Even as Their Pre-Tax Incomes Skyrocketed — Center on Budget and Policy Priorities

You've got some facts there; now let's add a little bit of context. The typical member of "the 400" is there for exactly one year--the year they sell the business and reap a huge capital gain. Their whole lives until then, they have ordinary income taxed at rates far higher than the average person--and they pay a lot of actual taxes. (How else would the top quintile pay more in tax than any other quintile?)

In the years since the government has been releasing data on "the 400," there are only four taxpayers who have been on the list every year. For most of the rest, it is as I describe: for one shining moment when they sell the business, they are at the pinnacle.