Top Income Earners Getting Reamed!

Discussion in 'Off-topic Political' started by Malum Prohibitum, Dec 30, 2010.

  1. Malum Prohibitum

    Malum Prohibitum Moderator Staff Member

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    Do the top income earners (not the wealthiest, but the highest income - we do not tax wealth each year, at least yet) pay their "fair share?" What is a fair share?

    Let us take the top 1%.

    Their incomes have dropped substantially, due to the economy, but what share of income taxes are paid by the top 1% of income earners?

    2008
    38% of all federal income taxes was paid by the top 1% of income earners.

    Well, of course! They earn more, right? So, what percentage of total income was earned by this top 1% of earners? Only 20%. Does this still strike you as "fair?"

    What about the top-earning 5 percent of taxpayers (AGI over $159,619)?
    They paid far more than the bottom 95 percent. The top 5 percent earned 34.7 percent of the nation's adjusted gross income, but paid approximately 58.7 percent of federal individual income taxes. Yes, the majority of the tax bill. These are people earning $159k and above. Does a $159K income in any one year strike you as "rich?"

    Got any friends who earned $67,000 into their house in 2008? Well, these rich fortunate lucky ones were in the top 25% and paid 86% of all income taxes. They made only 67% of the income.

    What about the middle of the pack?

    Well, check it out in the link. There is a chart toward the bottom (the first one) summarizing everything.
    http://www.taxfoundation.org/news/show/250.html
     
  2. Verbal101

    Verbal101 Active Member

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    Thanks for posting.

    I'm hardly wealthy, but I still believe in class mobility. It irks the heck out of me that the tax code means to block our mobility.
     

  3. Ashe

    Ashe Active Member

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    I like how forcing people who use fewer government resources to pay for more of those resources is fair.

    What if the grocery store had a variable (or progressive) price structure that would charge people differing prices for food based on income. If you make 20K annually you pay $1 for a loaf of bread, If you make 250K annually you pay $20 for the same loaf. That would be 'fair' right?
     
  4. TippinTaco

    TippinTaco New Member

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    the IRs is a crock anyways. I wish one day they would find a different way of handling Taxes. where EVERYONE paid taxes. Trash this earned income tax, trash any tax incentive that gives money to those who didnt even pay taxes.

    My brother was one of those people. He would pay $500-$600 in taxes and because he had a kid he would receive 2-3 grand...

    I work my butt off day in and day out and I'm lucky if I break even on my taxes let alone bring home a check from the IRS.
     
  5. Malum Prohibitum

    Malum Prohibitum Moderator Staff Member

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    It is wealth redistribution, plain and simple. My reason for posting this is that most of the people who advocate progressive income taxation, or paying a "fair share" or tax increases on the "wealthy" really have no clue how much is being paid and by whom.

    Memorize the figures, and you will be light years ahead of the people contending for tax increases during your next argument.

    You can craft the argument by asking them ahead of time what share of the overall income taxes people making 20% of the national income should be paying . . . or what percentage the bottom half, that is, Joe Blow middle income and everybody in the country below him, is paying.

    There are a lot of people out there who sincerely believe that middle income people and below pay a majority of the taxes. They do not even pay 3%.

    If we get any more "progressive," the majority of voters will not bear any of the burdens of taxation that they so willingly force onto others.
     
  6. suttree

    suttree New Member

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  7. Jonboy

    Jonboy New Member

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    Senator Barbara Mikulski of Maryland said two chief concerns were voiced in a closed-door meeting yesterday among the chamber’s Democrats and White House officials. She said senators consider the estate tax too generous to the wealthy and are concerned that the payroll tax cut could harm the Social Security system that it funds.

    Everything belongs to the State- it is only the generosity of our elected officials that allows us the use of a portion of what we own or earn.
     
  8. Our "leaders" could fix this by getting their heads out of their a**es, growing a spine, and replace our tax system with a consumption tax, particularly the FairTax. I do believe it's a possibility, but it won't see implementation until about 2/3s of states have a single state sales tax.
     
  9. Malum Prohibitum

    Malum Prohibitum Moderator Staff Member

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    I do not think that link, if you read it, is actually relevant to the link I posted, just because the name of the organization is mentioned. Would you trust it coming directly from the IRS? The figures are the same or very close every year, and I have been following this since the mid-1990s.
    The criticisms in that link do not criticize any of the information I linked.
     
  10. EJR914

    EJR914 Cheezburger Operator

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    :applause: Its Marxism... always has been.
     
  11. suttree

    suttree New Member

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    You are correct, the link I provided does not speak directly to the figures you provided from your link. It does call into question for me any figures they might provide. It is a think tank and to me that implies some type of political motivation, which means skewed facts to prove their point. The CBPP is a think tank as well so I would assume that their info is skewed as well.

    From Platoon. King says, "Po always being ------ over by the rich. Always have, always will." I agree that it is not the governments place to change it.
     
  12. fiwit

    fiwit New Member

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    If I read the chart right, I'm in the top 25%... I had no idea I was wealthy :lol:
     
  13. Malum Prohibitum

    Malum Prohibitum Moderator Staff Member

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    Pay your "fair share," since you are so "lucky!" Pay up! It's only "fair" that you pay more . . .
     
  14. Malum Prohibitum

    Malum Prohibitum Moderator Staff Member

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    No problem, then. Go to the IRS and debunk the figures yourself. They are publicly available, and I have posted prior years on here many times, or you can just sit back and criticize the figures. They are what they are, and they are not that hard to find. This is not some "interpretation" of the figures.

    If you want to "call them into question," then do a few minutes worth of work.

    You have not yet posted anything relevant to this thread.
     
  15. madamimadam

    madamimadam New Member

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    wow...according to the list you linked to, the bottom 50% only paid 3% of total income taxes...
     
  16. CoffeeMate

    CoffeeMate Junior Butt Warmer

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    You should give me some of your money.
     
  17. JiG

    JiG Awaiting censure

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    He sure the heck is. A successful lawyer, sure enough.

    The very sad part is that MP pays while the very richest don't (to a degree). The rich don't have income. They're investors. Capital gains taxes. While the "richest" and most hard working segment of our society pays the highest bracket of taxes, the uber rich don't.

    What's your tax bracket MP?

    What's the tax on capital gains?
     
  18. vooduchikn

    vooduchikn New Member

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    So am I screwed then? I paid in right at $15K in taxes this year...and I am in the military.

    Threw my figures in a tax calculator estimator and it laughed at me, sent me an email with a virus, and then 3 clowns showed up juggling rabid wolverines at my door.

    Yup, getting screwed like most I guess.
     
  19. EJR914

    EJR914 Cheezburger Operator

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    :righton: Well said, JiG.

    Just please let me ask everyone on this forum something, HAVE YOU EVER BEEN EMPLOYED BY A POOR HOMELESS MAN? Have you ever heard of anyone that was ever given a job and employed by a poor homeless man?

    My point is that EVERY TIME I was employed, I worked for someone that was either Middle Class, or someone that was slightly Upper Middle Class. I even got a job one time, because we know a multi-millionaire.

    You know what? I LOVE RICH PEOPLE! I wish I knew MORE RICH people. You know why? I'd probably have a FREAKING job right now if I knew more RICH people.

    You know, those EVIL rich people that have worked the :censored: off, working 14 hour days, spending tons of time away from their wife and child, to MAKE tons of money, and to try support their family the best way they could, and leave them something, and have enough WORTHLESS dollars so they can actually retire one day. Obama probably won't let the happen if he has anything to do about it. Inflation will destroy everything these hard working people in the Middle Class have saved for retirement or for their children's education. And if they invest it poorly and don't know about PUTS and Covered Calls, then they are F'd! They will never be able to overcome INFLATION RISK.

    Please, if you know any of these EVIL Rich people, please point me in their direction so I can ask them for a FREAKING job right now! Tell them that I actually love rich people because they are the reason that ANY of us have a job right now.

    If you own your own business and do it yourself, you KNOW how many hours you put in and how hard you work your :censored: off everyday just to keep the doors open on the place!

    Screw Marxism, Screw Socialism! It doesn't work! Taxing the rich like crazy, punishing them for being successful, and the investors and JOB CREATORS in this country is NUTS! You know a +++ job creator on society instead of a --- bum that SUCKS at the government teat, sucks taxpayer money, and just steals barely enough from us, that he/she wants to be lazy, and never get out there and look for employment, because they'd rather be lazy and sit on their :censored: and never do a bit of work, besides walking out to the mailbox on the 1st and the 15th to collect "their check."

    My wife sees it all the time, as she is the one they come up to and want to cash their government checks, instead of that money going to PAY THEIR MORTGAGE at the BANK, they go cash it and spend it on GOD-KNOWS-WHAT. They want to cash their government check, instead of pay a delinquent mortgage with it! I'm guessing drugs, liquor and cigarettes, maybe a women, I don't know.

    The one guy comes into her bank every so often to cash his government check, and it is in the $12,000/month range. He even got married to a girl a third his age, because of how RICH he is from SCAMMING the government. Last I heard, she divorced him and tried to take HALF, but he was smart enough to get an attorney and a pre-nup.

    From what he tells her, something happened to him, I'm guessing at the hands of a gubment employee, and he now gets $12,000/month for his "injuries" even though, as my wife can tell, there is not one thing wrong with him MENTALLY or PHYSICALLY, yet something happened to him, and now he sucks $12,000 a month from you and me, the American Tax Payer.

    Boy, I tell you what, if I could run a scam like that against our gubment somehow, I guess I would do it, too! I don't know what in the HECK, I would do with 12,000 a month! I only need about $2,500 to pay my mortgage, all utilities, bills, ect, and $3,600 a month was ROLLING for me back in the day. Life was good. Imagine if I was making 4 times that much, ever month!

    You don't have to come out and say it on here, but who here pulls in $12,000 a month here? I call that RICH! At the hands of what appears to be him scamming the gubmint.

    I wish I could find out how he did it or does it, because I'm really to the point where I think I'd do it if I could get away with it. $12,000 a month?!?!?! Are you kidding me?

    I'd own the nicest firearms you'd ever seen in your life, I'd drive nice cars, eat steak and caviar every night, and I might even sprinkle some diamonds in my food, so when I take a doo doo my crap sparkles! I mean, I don't even know what I would do with THAT kind of money every month. I wouldn't know what to do with it all. I guess I'd just save a huge portion of it every month. Goodness.

    But you know what, screw the RICH, let them PAY ridiculous level of taxes, because somebody has to pay for guys like this, that scam the system and are made rich because of it. And people wonder why we have no jobs here! Its taxes and the minimum wage GENIUS! No wonder no rich guys want to "Make America products" and then send all of our jobs overseas! TAXES and minimum wage! Also, ridiculous environmental laws. Geeze, it is that simple. Its too expensive to make anything in American anymore. Why do you think cheap illegal Mexican labor was in such high demand before the Recession of 2008? There is a NEED for it! There is a MARKET for cheap labor, and no taxes.

    People need to wake up and realize that taxes, minimum wage, and all these ridiculous laws that are put onto our business are going to help cause the demise of America.

    Want a better economy? Libertarian principles across the board could revive our economy in a matter of a few years if they just were put into action right now. Its simple, people. Less Government, More Freedom, Less Taxes, No minimum wage.

    Free Market is the way to go people. Our government controlled command economy is for the birds, and its going to make our children and their children some of the poorest Americans to come along since the Great Depression times.
     
  20. CoffeeMate

    CoffeeMate Junior Butt Warmer

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    Class warfare in general is a form of mobbing. Rather than face the issues as they exist, instead find someone to blame and then gang up on them. It doesn't solve the problems, it only gives the people who lead the mobbing relevance and power.

    Hatred is easy to peddle. Solutions aren't.

    "Rich" people aren't the problem.

    Well said, EJR.