Income Tax Lesson For Donkeys

[festeringZit]

Top 50% Pays 97% of All Federal Income Taxes


The U.S. income tax system is highly progressive. The top 1% of income earners, by household, paid more than 39% of all federal income taxes in 2005, the top 10% paid more than 70%, and the top 50% paid almost 97%, whereas the bottom 50% paid a little over 3%. Further, 32% of all tax returns filed in 2005 were from people who paid no federal income tax at all.

The chart below (click to enlarge) shows graphically the levels of household income earners, and their proportion of the federal income tax in 2005:

 

[festeringZit]

As you can see, the bottom 50% of income earners pay almost
ZERO income taxes in this country.

But, Obama the socialist wants to send them all a government
check - taken from the people that pay taxes.

It's steal from the rich, and give to the poor and lazy.

 

[MadTiger]

As you can see, the bottom 50% of income earners pay almost
ZERO income taxes in this country.

But, Obama the socialist wants to send them all a government
check - taken from the people that pay taxes.

It's steal from the rich, and give to the poor and lazy.

Obama is not a socialist.

Everyone who is poor isn't lazy.

Everyone who is lazy isn't poor.

What is the matter with you?

 

[festeringZit]

Obama is not a socialist.

Everyone who is poor isn't lazy.

Everyone who is lazy isn't poor.

What is the matter with you?

#1. Obama is a socialist, that is common knowledge

#2. I didn't say everyone who is poor is lazy

#3. I didn't say everyone who is lazy is poor

What is wrong with you? reread my post.

 

[festeringZit]

Ok I'll back off on the socialist label, but not conceding his
tax policies have socialist tendencies...

 

[Stocks]

Everybody should pay the same % of income tax or get rid of income tax and just raise the sales tax.

Then thats fair for everyone.

 

[D2bets]

Everybody should pay the same % of income tax or get rid of income tax and just raise the sales tax.

Then thats fair for everyone.

Not fair and not wise.

Although the sales tax thing is not too bad, but it discourages consumption in favor of savings. Would hurt the economy in short-term anyway. Sales tax OK as long as essentials (grocery, health care, etc.) are exempted or reduced. But this would drive a lot of activity underground and a lot of bartering. Not so good.

 

[Stocks]

Not fair and not wise.

How do you figure not fair.

If everyone paid 25% or what ever number in income tax the rich are still paying more someone making $10,000,000 pays 2.5 million and someone making $100,000 pays $25,000 that seems more that fair.

And you can make a rule anyone making under a certain amount like $10,000 pays nothing

 

[Stocks]

Oh the sales tax part eh, I think it could work.

 

[tiznow]

everybody already pays gobs of consumption taxes as it is

guessing for somebody making something like 60k a year

if they added up all taxes taken each year state taxes, property taxes, federal taxes, sales taxes, parking tickets, fees, telephone taxes, capital gains taxes, cigarette taxes, alcohol taxes, gas taxes.......all that shit

on a PERCENTAGE basis the guy making 60k probably pays the same if not more than the guy making a million.....well this is assuming the millionaire is stashing away a good portion of his income vs. spending a huge chuck of it.......

 

[D2bets]

How do you figure not fair.

If everyone paid 25% or what ever number in income tax the rich are still paying more someone making $10,000,000 pays 2.5 million and someone making $100,000 pays $25,000 that seems more that fair.

And you can make a rule anyone making under a certain amount like $10,000 pays nothing

Because the impact of $10,000 tax on $40,000 of income to a guy is so much greater than $10,000 of tax for the income of a guy between $2,000,000 and $2,000,040 of income. One the one hand it can cause a guy to lose his house or not send his kid to college or maybe not eat and on the other it is a rounding error in his brokerage account. Not fair.

 

[SmallDaddy]

Percentage of income-wise rich people pay less taxes than the middle class

 

[Dilrod]

The government cannot tax the impoverished or there would be a revolution led by big hungry angry men with starving children.

 

[zeeman]

As you can see, the bottom 50% of income earners pay almost
ZERO income taxes in this country.

But, Obama the socialist wants to send them all a government
check - taken from the people that pay taxes.

It's steal from the rich, and give to the poor and lazy.

Thats the way the Income tax system currently works. What do you think Bush did when he gave Tax rebate checks to tax filers who qualified. That's right he took from the rich and paid to the poor. Just a little income tax lesson for you buddy. Does this mean Bush is a Socialist.

 

[SmallDaddy]

BTW I would have zero problem if my and and everyone else's taxes would go up a few percent IF it were to go toward paying down the debt or health insurance for everyone

Social security should be raised to 70 years old

And cut the military budget in half.

Problems solved!!!

 

[zeeman]

BTW I would have zero problem if my and and everyone else's taxes would go up a few percent IF it were to go toward paying down the debt or health insurance for everyone

Social security should be raised to 70 years old

And cut the military budget in half.

Problems solved!!!

That's right. Lets take care of our domestic issues first. Reality is very sad. But the reality is were wasting 10 billion a month being in Iraq.

 

[Willie99]

As you can see, the bottom 50% of income earners pay almost
ZERO income taxes in this country.

But, Obama the socialist wants to send them all a government
check - taken from the people that pay taxes.

It's steal from the rich, and give to the poor and lazy.

Just a reminder, this stat pertains to taxpayers. 30% of Americans aren't even required to file.

 

[JudgeWapner]

Become an ex-pat. Up to 90k tax free.

 

[steaktartar]

become an ex-pat. Up to 90k tax free.

 

[tiznow]

The government cannot tax the impoverished or there would be a revolution led by big hungry angry men with starving children.

exactly gotta pull the FDR and try like mad to keep the have nots from rioting on the streets yelling end the fed and looking to hang every politician and bankster in sight

i'll quote eekster

"tax the rich, tax the rich!"

:grandmais