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The top 1% actually earns LESS than the top 25-50%.
Earnings:
The top 1% earns 16.93% of the income but pays 36.73% of the federal income tax revenue
The top 25-50% earns 20.71% of the income but pays only 10.45% of the federal income tax revenue
The top 1% is paying more than twice their fair share.
The top 25-50% are paying only half of their fair share.
You can either become informed, or go back to the deceptively manipulative propaganda you've been brainwashed with. Your choice. Are you an enlightened truthseeker or a mindless tool?
Mindless tool? Look in the mirror lately?
You are just simply spewing out percentages without any context to anything. Yes the wealthy pay the most, but that's how it's supposed to be! That's how it has been! There's no such thing as fair.
You want to cut off your nose to spite your face. That is you want the wealthy to pass less, which will only shift the tax burden to the middle and lower class who create the demand for consumer goods. I just don't get your reasoning for lower taxes on the wealthy when it will help them but hurt economic recovery.
That is you want the wealthy to pass less, which will only shift the tax burden to the middle and lower class who create the demand for consumer goods. I just don't get your reasoning for lower taxes on the wealthy when it will help them but hurt economic recovery.
Ah yes, the flat-earth mentality rises up again.
You think that the rich paying a lower rate on their income, with the very-real, historically a cinch, probability that they will earn and invest more, and end up paying more even at the lower rates, will inevitably shift burden to poor and middle class.
First of all, the 47% who are paying nothing in Federal Income Tax need to stop mooching off of those who do, step up, and pony up what they should pay.
Second, if you cut spending dramatically, no burden need be increased on those already doing their fair share (the people who actually pay taxes).
No tax cut has ever hurt the economy because, by its very nature, it can't, because more money left int he economy fuels a bigger, not smaller, economy.
Lets see now!! If someone earns 1,000,000.00 a year they pay 20.4% which is 204,000.00 and leaves them a small amount of 796,000.00 to barely survive on.
Someone, my Wife, makes 25,000.00/yr with overtime, pays 4.8% which is 1200.00 and leaves a whopping 23,800.00 to buy all the cheap living expenses on and invest the rest in stocks etc.
I think to be fair the 1,000,000.00 earner should only pay .12% which is 1200.00 just like my lowly, non paying, moocher that pays not her fair share.
Then we can all be equal and the wealthy person will have an extra 202,800.00 to put towards his investments and say they can only give my wife a .25 cent raise this year compared to that mega .50 cent increase last year.
Ahh, I feel so much better that we are all so even in tax paying now!! Now quit yer B@#$%tching!!
Nope, you forgot the "other" federal tax the rwnj's don't like to talk about. When you add in the FICA payroll taxes the middle class pays into heavily compared to the wealthy the whole thing levels out. Your wife is paying on every dollar she earns but the millionaire pays taxes on about one tenth of their income, and if they take income as dividends or carried interest they might not pay any FICA taxes.
Back when it was 92%, there was economic stagnation, and a little-known President, I like to call JFK, had rates lowered to the 20% range (forgot exact figure). Economy took off and even more revenue was collected.
It's a thing, I like to call "history".
And yet EVERYTHING you said is completely wrong. You were challenged to support your nonsense, we're all waiting.
Nope, you forgot the "other" federal tax the rwnj's don't like to talk about. When you add in the FICA payroll taxes the middle class pays into heavily compared to the wealthy the whole thing levels out.
Yet again, TOTALLY FALSE.
Look at the total effective federal tax rates in Table 2:
So no link about the economy and stagnation when the rates were higher eh to support your prior claim eh?
Oh well. Moving on....
Quote:
You think that the rich paying a lower rate on their income, with the very-real, historically a cinch, probability that they will earn and invest more, and end up paying more even at the lower rates, will inevitably shift burden to poor and middle class.
People invest when there is a demand for something. There's a reason why companies are sitting on trillions in cash... Let's not put the cart before the horse here.
My whole point is that the burden of income taxes is on those with incomes... higher income, more taxes. Therefore, the burden is overwhelmingly on those with higher incomes.... Apparently, some of you don't like that notion.
Quote:
First of all, the 47% who are paying nothing in Federal Income Tax need to stop mooching off of those who do, step up, and pony up what they should pay.
First of all, don't generalize tens of millions of people, it will only make you look ignorant.
Next, how much money are you expecting to get out of the working poor, students, and the elderly?
Why are they concentrated in the South, along the Bible belt?
Quote:
Second, if you cut spending dramatically, no burden need be increased on those already doing their fair share (the people who actually pay taxes).
Well if spending was cut dramatically then someone or something will have to make it up or the economy will suffer depending on the severity of the cuts.
A balanced plan of modest taxes increases for all, targeted spending cuts, and SS and healthcare reform would do the trick.
Quote:
No tax cut has ever hurt the economy because, by its very nature, it can't, because more money left int he economy fuels a bigger, not smaller, economy.
You think that the rich paying a lower rate on their income, with the very-real, historically a cinch, probability that they will earn and invest more, and end up paying more even at the lower rates, will inevitably shift burden to poor and middle class.
First of all, the 47% who are paying nothing in Federal Income Tax need to stop mooching off of those who do, step up, and pony up what they should pay.
Second, if you cut spending dramatically, no burden need be increased on those already doing their fair share (the people who actually pay taxes).
No tax cut has ever hurt the economy because, by its very nature, it can't, because more money left int he economy fuels a bigger, not smaller, economy.
Ah yes, the flat-earth mentality rises up again.
Those darn 47% "mooches" are retirees, students and people who work harder than starlets wading in the pool but just earn too little to be assessed income tax.
Why? Why penalize success and reward failure? Are those our nation's ideals? We prioritize failure over success? Really?
Explains why we're sucked into a downward spiral, no? Record-breaking poverty levels year after year...
Nobody is "rewarding failure" by not taxing a family's subsistence income at the same rate as the money a billionaire is banking. Poor ppl struggle to get by, why would you heartless rwnj's take food off the poor table so they can "pay taxes"? You want someone on disability to pay taxes? If so, pay them more.
Hey, my 78 year old mom get a $450+/- SS check and a section 8 voucher for a one room efficency apartment. She works two min wage part time jobs to survive. How much do you want from her? How much less should a millionaire pay?
Those darn 47% "mooches" are retirees, students and people who work harder than starlets wading in the pool but just earn too little to be assessed income tax.
BS. That would only be true if we had a 100% labor force participation rate. We don't. It's only 63.8%.
That means... the mooches AREN'T working.
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