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You claim to "flip burgers" full-time for minimum wage for a living, yet you're always online and never seem to be working. Who paid for your computer and internet connection?
You claim to "flip burgers" full-time for minimum wage for a living, yet you're always online and never seem to be working. Who paid for your computer and internet connection?
IC,
dont get him started on his internet ordeal...he'll tell you how he is trapped with ComCast, and how it sucks, and how poor poor him is trapped
False premise. The middle class doesn't pay a 25% federal income tax rate. The CBO's and IRS's projection of the middle class's 2012 effective federal income tax rates are published here:
2012 Middle class effective federal income tax rates are projected by the CBO and IRS to be as low as 3.1% (for the second quintile) and as high as only 9.9% (for the fourth quintile).
Even including ALL federal taxes (payroll, excise taxes, etc.), the highest effective rate the middle class pays is 22%. That's less than 25% for ALL federal taxes.
Someone is pandering to you, gwynedd1, and you're swallowing the propaganda hook, line, and sinker.
That would be your 6% rate that I was debunking. The whole concept is ridiculous since 100k is middle class in some part of the country while wealthy in others. It also depends on the deductions like the bank subsidy of the mortgage interest deduction. Most of the tax dodges are designed to send money to the FIRE sector fat cats. If you don't in debt yourself you are subject to 25% marginal rates alone. Otherwise it just swaps tax for the FIRE sector tax. It begins at lease at 15% and moves up from there. That does not include often highly regressive state taxes.
A fact that leads to your false premise that rich people pay more to support our government than the middle class.
As a percentage of their income, they do. The top 1% earned less than 17% of the income and paid 21.1% of the total federal taxes. The middle 3 quintiles earned 44.1% of the income but only paid 34.6% of the total federal taxes.
I'm glad you pointed out the fact that most of the income is earned by the middle class. THAT'S where taxes need to be increased because THAT'S where most of the income is. Raising taxes on less than 17% of the income is no more than a drop in the bucket, which has been proven time and time again. Raising taxes on over 44% of the income will generate MUCH more very needed revenue.
It is neighher false, nor a premise, but thanks for attempting to make sense.
I would offer that you should attempt to get back within the bounds of "truth" and once you achieve that (if you do), try your very best to stay there.
His premise is that the wealthy pay more than they put in, and he is using the incomplete income tax fact to support it. Since I believe that goods and services produce wealth, and not exchange values and financial flows from government protection, they don't. Government policy enriches them.
So you have no idea what you are talking about, but just decided to remind me of your nature so eloquently.
You claim to "flip burgers" full-time for minimum wage for a living, yet you're always online and never seem to be working. Who paid for your computer and internet connection?
Except that my personal life expectancy does not reach retirement age - I expect to get back none of what I paid in.
As a percentage of their income, they do. The top 1% earned less than 17% of the income and paid 21.1% of the total federal taxes. The middle 3 quintiles earned 44.1% of the income but only paid 34.6% of the total federal taxes.
I'm glad you pointed out the fact that most of the income is earned by the middle class. THAT'S where taxes need to be increased because THAT'S where most of the income is. Raising taxes on less than 17% of the income is no more than a drop in the bucket, which has been proven time and time again. Raising taxes on over 44% of the income will generate MUCH more very needed revenue.
Another premise I reject. Deficits are required. We need less revenue, not more. I have also made it very plain I do not like direct taxes on income, including the wealthy. I promote taxes on economic rents that are produced passively as a result of the general prosperity, classical economic theory.
As a percentage of their income, they do. The top 1% earned less than 17% of the income and paid 21.1% of the total federal taxes. The middle 3 quintiles earned 44.1% of the income but only paid 34.6% of the total federal taxes.
UPDATE YOUR BOOKMARKS already for Petessake! You are posting OLD data. In ONE year right after the financial crash the 1%'s share of income dipped to 17% (STILL OBSCENE)... but they rebound quickly, back up to 25%+ today.
They've also captured something crazy like 90% of income growth over the past decades. So clearly the SYSTEM is working for them. Good thing they have shills like you to argue it's unfair to burden from the SYSTEM that they own and operate!
You claim to "flip burgers" full-time for minimum wage for a living, yet you're always online and never seem to be working. Who paid for your computer and internet connection?
I got my first computer by volunteering at a non-profit computer recycler. The one I have now I bought used with my own funds. I earn money online (work remotely (data entry and data mining) for a former employer, plus misc gigs found on craigslist) which pays for my internet connection. Plus very part time at a convenience store..
His premise is that the wealthy pay more than they put in, and he is using the incomplete income tax fact to support it.
BS. I've proven time and time again with facts from the CBO and the IRS that the wealthy pay MORE of a percentage of federal, state, and local taxes than their share of the earnings. The middle class doesn't pay enough. The middle class pays less of a percentage than their share of the earnings; they don't pay their fair share. These are all independently verifiable facts published by the CBO and the IRS.
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