IDBillzFan Posted March 12, 2013 Share Posted March 12, 2013 A fact so obvious, even CNN has to report it. http://money.cnn.com...=Lead&hpt=hp_t1 Many people think that the rich are able to weasel their way out of taxes, but they actually pay an overwhelming majority of the taxes in the United States.What's more, their share of the tax burden is increasing. The top 10 percent of taxpayers paid over 70% of the total amount collected in federal income taxes in 2010, the latest year figures are available, according to the Tax Foundation, a right-leaning think tank. That's up from 55% in 1986 The remaining 90% bore just under 30% of the tax burden. And 47% of all Americans pay hardly anything at all -- a fact that got Republican presidential candidate Mitt Romney into political hot water last year. "There's been a huge myth created that the rich aren't paying anything," said William McBride, the Tax Foundation's chief economist. "The rich pay a much higher rate than the poor." Link to comment Share on other sites More sharing options...
B-Large Posted March 12, 2013 Share Posted March 12, 2013 but that makes sense, that is where the money is. I'd be shocked if the top 10% paid only 20-30% of the Federal taxes... its kind of an obvious point, isn't it? Link to comment Share on other sites More sharing options...
IDBillzFan Posted March 12, 2013 Author Share Posted March 12, 2013 but that makes sense, that is where the money is. I'd be shocked if the top 10% paid only 20-30% of the Federal taxes... its kind of an obvious point, isn't it? It may make sense, but does it also make it right? Link to comment Share on other sites More sharing options...
B-Man Posted March 12, 2013 Share Posted March 12, 2013 (edited) Never mind if it "makes it right", Just once (next time) could the informed voters and media (lol) call out the dem politicians when they continue the demand for increased taxes on the "rich" and making them "pay their fair share" Everyone knows that its demogagory by the libs but its excused anyway. . Edited March 12, 2013 by B-Man Link to comment Share on other sites More sharing options...
Joe Miner Posted March 12, 2013 Share Posted March 12, 2013 It may make sense, but does it also make it right fair? Fixed Link to comment Share on other sites More sharing options...
Fezmid Posted March 12, 2013 Share Posted March 12, 2013 I love some of the comments. Pay SS taxes on capital gains? Wow.... It's like (over) half the country has been brainwashed into thinking they can't get ahead in the world, and just want to blame rich people instead of working to improve their lives. My grandparents came here from Italy with nothing. My parents were lower-middle class at best (my mom STILL makes just over minimum wage). And my wife and I are now part of the "evil" 10%. But we worked our asses off to do it. When did America lose its work ethic? Link to comment Share on other sites More sharing options...
B-Large Posted March 12, 2013 Share Posted March 12, 2013 It may make sense, but does it also make it right? Does it make it right, probably not... in the theorectical case of a small, efficient government that provided for domestic defense and had means tested safety net program to protect the least of our citizens, then perhaps the people who posses the wealth paying the a disproptionate taxes is fair- but that would not be them paying 50%+ of their income to taxes, but perhaps 30%, 20% or less. The Tax Code is so wacked because a small amount of the people in the US actually has Wealth, meaning they can pay taxes at a very high rate and still have mountains left over to provide, invest, retire, etc. The bulk of the population is paycheck to paycheck, or worse than that, payday loan to paycheck or cover their spread with credit.. its hard to increase taxes on those people without sapping aggreagte spending on good and services.. to me, I have always maintained that the biggest downfall for this country is lackluster growth of earned income and asset accumulation... after education, buying a vehicle, purchasing a home and having a family, there isn't a ton left to fund retirment, college for your kids, the new roof, a vacation once in a blue moon, etc. Other than wealth redistribution through taxes, there has to be growth in income and wealth dowward or the country will eventually be in big trouble- the masses can only string along on stagnant paychecks so long, that is why we see elevated debt levels year after year to cover the shortfall. So it is right? no- but given the cicumstances of a stagnant middle class and bloated government, probably. Until we reduce the scope of government at the federal level and find a way for the masses to flourish, the Wealthy is where it is... I love some of the comments. Pay SS taxes on capital gains? Wow.... It's like (over) half the country has been brainwashed into thinking they can't get ahead in the world, and just want to blame rich people instead of working to improve their lives. My grandparents came here from Italy with nothing. My parents were lower-middle class at best (my mom STILL makes just over minimum wage). And my wife and I are now part of the "evil" 10%. But we worked our asses off to do it. When did America lose its work ethic? thats a pretty sweeping generalization. I have friends who work their buts off trying to get ahead, financed College, tyring to get ahead at 35, going to grad school, paying for kids schooling, trying to put away money for college (that's only 18 short years away), paying their mortgage, scraping to put money aside for retirement..... they literally have scraps at the end... ALOT of people work really hard, long hours, and the returns are often not commensurate with the effort.. that is becoming a core problem in America, people are starting to think twice about the "dream"... they often question whether it is worth it... ask around, I think you will find that sentiment not that uncommon... Link to comment Share on other sites More sharing options...
Joe Miner Posted March 12, 2013 Share Posted March 12, 2013 thats a pretty sweeping generalization. I have friends who work their buts off trying to get ahead, financed College, tyring to get ahead at 35, going to grad school, paying for kids schooling, trying to put away money for college (that's only 18 short years away), paying their mortgage, scraping to put money aside for retirement..... they literally have scraps at the end... ALOT of people work really hard, long hours, and the returns are often not commensurate with the effort.. that is becoming a core problem in America, people are starting to think twice about the "dream"... they often question whether it is worth it... ask around, I think you will find that sentiment not that uncommon... Dream big. Keep your expectations realistic. Link to comment Share on other sites More sharing options...
B-Large Posted March 12, 2013 Share Posted March 12, 2013 Dream big. Keep your expectations realistic. Sage Advice. Never did I say in that Reponse that People are always Free of Stupid.... lol Link to comment Share on other sites More sharing options...
KD in CA Posted March 12, 2013 Share Posted March 12, 2013 thats a pretty sweeping generalization. I have friends who work their buts off trying to get ahead, financed College, tyring to get ahead at 35, going to grad school, paying for kids schooling, trying to put away money for college (that's only 18 short years away), paying their mortgage, scraping to put money aside for retirement..... they literally have scraps at the end... ALOT of people work really hard, long hours, and the returns are often not commensurate with the effort.. that is becoming a core problem in America, people are starting to think twice about the "dream"... they often question whether it is worth it... ask around, I think you will find that sentiment not that uncommon... The problem is that prior generations considered it "the dream" to be able to afford the mortgage and the kids' education and maybe take a week or two at a little cabin on the lake in the summer. But today's spoiled idiots aren't satasfied unless they have the satalitte TV and iphone and expensive trips and everything else to keep up with the Joneses. Working hard to get by shouldn't be viewed as a problem that needs to be solved. Link to comment Share on other sites More sharing options...
Chef Jim Posted March 12, 2013 Share Posted March 12, 2013 Seeing it's that time of year again I will throw out my annual tax payment wish. I wish that everyone, like I, did not have any taxes taken from their paychecks. You made $10k this month, $10k hits your bank account. It is now up to you to write those checks to the fed and your state (unless your state has no income tax) for your taxes. See how fun it is to write a check for $10k, $20K, $30k or more to the tax man. Then you'll think very closely about it. You don't miss it because you "never had" it. The government actually takes their share first? How dare they. Well break out your checkbook and see how much fun it is. I actually have a client who typically writes $50k checks to the government........every quarter!! Link to comment Share on other sites More sharing options...
Joe Miner Posted March 12, 2013 Share Posted March 12, 2013 Seeing it's that time of year again I will throw out my annual tax payment wish. I wish that everyone, like I, did not have any taxes taken from their paychecks. You made $10k this month, $10k hits your bank account. It is now up to you to write those checks to the fed and your state (unless your state has no income tax) for your taxes. See how fun it is to write a check for $10k, $20K, $30k or more to the tax man. Then you'll think very closely about it. You don't miss it because you "never had" it. The government actually takes their share first? How dare they. Well break out your checkbook and see how much fun it is. I actually have a client who typically writes $50k checks to the government........every quarter!! If that were to happen, the new tax rates in this country would become 2, 5, and 10%. Link to comment Share on other sites More sharing options...
TPS Posted March 12, 2013 Share Posted March 12, 2013 I love some of the comments. Pay SS taxes on capital gains? Wow.... It's like (over) half the country has been brainwashed into thinking they can't get ahead in the world, and just want to blame rich people instead of working to improve their lives. My grandparents came here from Italy with nothing. My parents were lower-middle class at best (my mom STILL makes just over minimum wage). And my wife and I are now part of the "evil" 10%. But we worked our asses off to do it. When did America lose its work ethic? When China went capitalist... Link to comment Share on other sites More sharing options...
keepthefaith Posted March 12, 2013 Share Posted March 12, 2013 When did America lose its work ethic? It's happening now. When the tax burden on the successful hard workers is increased and the benefits given to the unproductive workers are increased, you have created and incentive for both groups to produce less. The Democrat voter registration playbook is being methodically applied and successfully so. Link to comment Share on other sites More sharing options...
Dante Posted March 13, 2013 Share Posted March 13, 2013 Seeing it's that time of year again I will throw out my annual tax payment wish. I wish that everyone, like I, did not have any taxes taken from their paychecks. You made $10k this month, $10k hits your bank account. It is now up to you to write those checks to the fed and your state (unless your state has no income tax) for your taxes. See how fun it is to write a check for $10k, $20K, $30k or more to the tax man. Then you'll think very closely about it. You don't miss it because you "never had" it. The government actually takes their share first? How dare they. Well break out your checkbook and see how much fun it is. I actually have a client who typically writes $50k checks to the government........every quarter!! I say this all the time and most people just don't get it. They piss and whine if BofA start charging them $1 more on bank card transactions but don't seem to mind the government (at all levels and user taxes) taking 40% or more of THEIR money that they worked for. I just don't understand the indifference. Link to comment Share on other sites More sharing options...
Meathead Posted March 13, 2013 Share Posted March 13, 2013 the issue isnt how much the top x% pays its where the distribution and direction the income gap is going relative to tax percentage money has been flowing to the top for a very long time and the income gap is bigger than it has been in almost a century the rich have been getting fatter and fatter and while opportunity for most folks has been steadily shrinking. of course the rich should be paying the vast majority of taxes. from a historical perspective they are still much better off than they have been in a long, long time. they should be paying more, and they would never even miss it i always find it amazing average income folks can defend this somehow. its an absolute fantasy with no rational basis that if you keep funnelling money to the rich it somehow ends up in everybodys pocket. yet thats exactly what tea party lunatics want us to do with things like the ryan budget. its really indefensible Link to comment Share on other sites More sharing options...
Chef Jim Posted March 13, 2013 Share Posted March 13, 2013 the issue isnt how much the top x% pays its where the distribution and direction the income gap is going relative to tax percentage money has been flowing to the top for a very long time and the income gap is bigger than it has been in almost a century the rich have been getting fatter and fatter and while opportunity for most folks has been steadily shrinking. of course the rich should be paying the vast majority of taxes. from a historical perspective they are still much better off than they have been in a long, long time. they should be paying more, and they would never even miss it i always find it amazing average income folks can defend this somehow. its an absolute fantasy with no rational basis that if you keep funnelling money to the rich it somehow ends up in everybodys pocket. yet thats exactly what tea party lunatics want us to do with things like the ryan budget. its really indefensible What annual income level do you consider rich? And regarding the bolded part. How much more and why? Link to comment Share on other sites More sharing options...
IDBillzFan Posted March 13, 2013 Author Share Posted March 13, 2013 the issue isnt how much the top x% pays its where the distribution and direction the income gap is going relative to tax percentage money has been flowing to the top for a very long time and the income gap is bigger than it has been in almost a century the rich have been getting fatter and fatter and while opportunity for most folks has been steadily shrinking. of course the rich should be paying the vast majority of taxes. from a historical perspective they are still much better off than they have been in a long, long time. they should be paying more, and they would never even miss it i always find it amazing average income folks can defend this somehow. its an absolute fantasy with no rational basis that if you keep funnelling money to the rich it somehow ends up in everybodys pocket. yet thats exactly what tea party lunatics want us to do with things like the ryan budget. its really indefensible Few things never get old. Like a liberal arguing that rich people should hand over more of their money to support government hand outs strictly because "they would never miss it." Yeah, the old "drop-in-a-bucket, they'll-never-miss-it" crowd never, ever gets old. It's a refreshing alternative to the equally moronic "because they can" crowd. Link to comment Share on other sites More sharing options...
Meathead Posted March 13, 2013 Share Posted March 13, 2013 its amazing to me that every time i bring up the rising income gap it gets totally ignored by supporters of the rich. its not even a point in debate, everyone agrees that its happening, but somehow its completely immaterial to those that want to keep letting the rich bank accounts siphon a bigger and bigger chunk of available money from everybody else. its like a mental disease Link to comment Share on other sites More sharing options...
B-Man Posted March 13, 2013 Share Posted March 13, 2013 its amazing to me that every time i bring up the rising income gap it gets totally ignored by supporters of the rich. its not even a point in debate, everyone agrees that its happening, but somehow its completely immaterial to those that want to keep letting the rich bank accounts siphon a bigger and bigger chunk of available money from everybody else. its like a mental disease You are looking at it incorrectly. "siphoning" the "available" money...........................don't you realize how simplistic (and wrong) that sounds to the average person. You spout nonsense like "supporters of the rich" and "mental disease" and then whine in disbelief that no one takes your view as serious. Put the same effort into raising the poor that you seem to put into tearing down the wealthy..........which action will REALLY help the poor ? . Link to comment Share on other sites More sharing options...
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