Richest Americans? Income Doubled as Tax Rate Slashed

[Corn]

Originally posted by: spidey07
OK - the basic premise of this article is bunk.

"Jan. 30 (Bloomberg) -- The average tax rate paid by the richest 400 Americans fell by a third to 17.2 percent through the first six years of the Bush administration and their average income doubled to $263.3 million, new IRS data show. "

YR2000 Average AGI = 173M
YR2006 Average AGI = 263M

YR2000 Average income tax rate = 22.85%
YR2006 Average income tax rate = 17.17
A reduction of one QUARTER, not third.

Me thinks the person who wrote this article is intentionally distorting facts.

Doesn't matter, PUNISH THE RICH!!!!!!!!!!!!

 

[spidey07]

I've E-mailed the author asking him to correct his mistakes.

 

[Craig234]

Originally posted by: Deeko

Originally posted by: venkman
Tell me again why I'm paying 35% and they are paying 17%?

They have better accountants than you.

Let me correct:

They have better politicians than you [during this period 2001-2007]

 

[winnar111]

Why do 400 men set our nation's policy out of 300 million people?

 

[Corn]

Originally posted by: winnar111
Why do 400 men set our nation's policy out of 300 million people?

Jealousy.

 

[MagicConch]

Originally posted by: AFMatt

Originally posted by: MagicConch
The suggestion that they paying the most taxes in the last 15 years is a good thing is humorous to me, especially given that the poor were getting poorer at the same time and that the wealthiest people's tax rate was so low. I wonder if this is the logic that will be used in the future to transfer as much wealth as possible up the ladder and decrease their taxes as much as possible at the same time.

How can you can link their making money with someone else being poor? Poor people dont pay taxes! Most people get back more than they paid, every single year. Even if these rich paid the 22.9% it was before the cut, that poor person would still be getting poorer. If I were poor I sure as hell wouldn't feel it is any of their fault, nor would I feel it is their responsibility to make money show up in my bank account. I dont understand that way of thinking.

I find it humurous that anyone thinks raising capital gains taxes back to 20% is going to do anything good for the middle class or the poor.

Fair and smart question/point. It becomes an ideological debate though at that point which is usually lengthy and doesn't change anyone's opinion, involves debates on correlation vs causality, burden of proof, etc. I do think it's dangerous not to connect any of the dots; it leads to long-term problems that negatively impact everyone's bank account in a consumer economy. Perhaps you are right and they don't connect all, although I personally don't believe that. As far as capital gains back to 20%, that is something I am not a fan of either.

 

[nobodyknows]

Originally posted by: Corn

Originally posted by: spidey07
OK - the basic premise of this article is bunk.

"Jan. 30 (Bloomberg) -- The average tax rate paid by the richest 400 Americans fell by a third to 17.2 percent through the first six years of the Bush administration and their average income doubled to $263.3 million, new IRS data show. "

YR2000 Average AGI = 173M
YR2006 Average AGI = 263M

YR2000 Average income tax rate = 22.85%
YR2006 Average income tax rate = 17.17
A reduction of one QUARTER, not third.

Me thinks the person who wrote this article is intentionally distorting facts.

Doesn't matter, PUNISH THE RICH!!!!!!!!!!!!

What would Jesus do?

 

[Craig234]

1. No incentive for people to create companies, hire, etc.
2. Optimal incentive for people to create companies, hire, etc., combined with public policies that ensure the whole society benefits from the productivity.
3. No limits on the wealthy turning the society into an oligarcy, with a few rich, others poor.

Those are three scenarios, with 1 and 3 being opposite extremes.

The problem is, the right, when confronted with #3, thinks it's #2. Can't tell the difference.

The other problem is that when #2 is suggested, the right attacks it as if it were #1. Can't tell the difference.

 

[CADsortaGUY]

Originally posted by: nobodyknows

Originally posted by: Corn

Originally posted by: spidey07
OK - the basic premise of this article is bunk.

"Jan. 30 (Bloomberg) -- The average tax rate paid by the richest 400 Americans fell by a third to 17.2 percent through the first six years of the Bush administration and their average income doubled to $263.3 million, new IRS data show. "

YR2000 Average AGI = 173M
YR2006 Average AGI = 263M

YR2000 Average income tax rate = 22.85%
YR2006 Average income tax rate = 17.17
A reduction of one QUARTER, not third.

Me thinks the person who wrote this article is intentionally distorting facts.

Doesn't matter, PUNISH THE RICH!!!!!!!!!!!!

What would Jesus do?

punish the rich? take more from the rich by force?

 

[misle]

Originally posted by: winnar111
Why do 400 men set our nation's policy out of 300 million people?

I've been wondering why 537 men and women set our nation's policy.

 

[nobodyknows]

Originally posted by: CADsortaGUY

Originally posted by: nobodyknows

Originally posted by: Corn

Originally posted by: spidey07
OK - the basic premise of this article is bunk.

"Jan. 30 (Bloomberg) -- The average tax rate paid by the richest 400 Americans fell by a third to 17.2 percent through the first six years of the Bush administration and their average income doubled to $263.3 million, new IRS data show. "

YR2000 Average AGI = 173M
YR2006 Average AGI = 263M

YR2000 Average income tax rate = 22.85%
YR2006 Average income tax rate = 17.17
A reduction of one QUARTER, not third.

Me thinks the person who wrote this article is intentionally distorting facts.

Doesn't matter, PUNISH THE RICH!!!!!!!!!!!!

What would Jesus do?

punish the rich? take more from the rich by force?

Are the rich not taking from the poor?

 

[CADsortaGUY]

Originally posted by: nobodyknows

Originally posted by: CADsortaGUY

Originally posted by: nobodyknows

Originally posted by: Corn

Originally posted by: spidey07
OK - the basic premise of this article is bunk.

"Jan. 30 (Bloomberg) -- The average tax rate paid by the richest 400 Americans fell by a third to 17.2 percent through the first six years of the Bush administration and their average income doubled to $263.3 million, new IRS data show. "

YR2000 Average AGI = 173M
YR2006 Average AGI = 263M

YR2000 Average income tax rate = 22.85%
YR2006 Average income tax rate = 17.17
A reduction of one QUARTER, not third.

Me thinks the person who wrote this article is intentionally distorting facts.

Doesn't matter, PUNISH THE RICH!!!!!!!!!!!!

What would Jesus do?

punish the rich? take more from the rich by force?

Are the rich not taking from the poor?

by force? How so?

 

[nobodyknows]

Originally posted by: CADsortaGUY

Originally posted by: nobodyknows

Originally posted by: CADsortaGUY

Originally posted by: nobodyknows

Originally posted by: Corn

Originally posted by: spidey07
OK - the basic premise of this article is bunk.

"Jan. 30 (Bloomberg) -- The average tax rate paid by the richest 400 Americans fell by a third to 17.2 percent through the first six years of the Bush administration and their average income doubled to $263.3 million, new IRS data show. "

YR2000 Average AGI = 173M
YR2006 Average AGI = 263M

YR2000 Average income tax rate = 22.85%
YR2006 Average income tax rate = 17.17
A reduction of one QUARTER, not third.

Me thinks the person who wrote this article is intentionally distorting facts.

Doesn't matter, PUNISH THE RICH!!!!!!!!!!!!

What would Jesus do?

punish the rich? take more from the rich by force?

Are the rich not taking from the poor?

by force? How so?

How are the poor punishing the rich by force?

 

[zinfamous]

Originally posted by: spidey07

Originally posted by: ericlp

So tell me again, why we should bail out these assholes?

Because it's their wealth that creates a crapload of jobs via lower capital gains

Also don't forget this fact..."although the richest 400 Americans paid more tax on an inflation-adjusted basis than any year since 2000. "

And MORE:
"The richest 400 Americans collectively paid $18.1 billion in taxes in 2006, the highest in the 15-year period and 1.77 percent of all income taxes paid in the United States; on an inflation- adjusted basis, the dollar amount was the highest since 2000. "

Yeah, but imagine how much more money would be pumped into the system had they actually paid their fair share.

percentage of income is far more important than total amount. do you honestly think that the 17% rate paid by the extremely wealthy is as hindering, or somehow even worse in comparison to the middle class bloke that pays 30% of their total income?

Whose life is actually impacted more? This "total amount paid" argument has been a joke ever since it was proposed. Sure would be nice to have that enormous surplus we had back in 2000....

 

[JS80]

Originally posted by: MagicConch
The suggestion that they paying the most taxes in the last 15 years is a good thing is humorous to me, especially given that the poor were getting poorer at the same time and that the wealthiest people's tax rate was so low. I wonder if this is the logic that will be used in the future to transfer as much wealth as possible up the ladder and decrease their taxes as much as possible at the same time.

Show me one poor person in the US, then compare him to the poor person globally.

 

[nobodyknows]

Originally posted by: JS80

Originally posted by: MagicConch
The suggestion that they paying the most taxes in the last 15 years is a good thing is humorous to me, especially given that the poor were getting poorer at the same time and that the wealthiest people's tax rate was so low. I wonder if this is the logic that will be used in the future to transfer as much wealth as possible up the ladder and decrease their taxes as much as possible at the same time.

Show me one poor person in the US, then compare him to the poor person globally.

Report: Poor People Pretty Much Fucked

"Not only are the down-and-out fucked, but the number of down-and-out fucks is growing," Park said. "Conditions of disadvantage are often passed from one generation to the next, making it especially difficult for young people to emerge from the cycle of poverty."

 

[JS80]

Originally posted by: nobodyknows

Originally posted by: CADsortaGUY

Originally posted by: nobodyknows

Originally posted by: CADsortaGUY

Originally posted by: nobodyknows

Originally posted by: Corn

Originally posted by: spidey07
OK - the basic premise of this article is bunk.

"Jan. 30 (Bloomberg) -- The average tax rate paid by the richest 400 Americans fell by a third to 17.2 percent through the first six years of the Bush administration and their average income doubled to $263.3 million, new IRS data show. "

YR2000 Average AGI = 173M
YR2006 Average AGI = 263M

YR2000 Average income tax rate = 22.85%
YR2006 Average income tax rate = 17.17
A reduction of one QUARTER, not third.

Me thinks the person who wrote this article is intentionally distorting facts.

Doesn't matter, PUNISH THE RICH!!!!!!!!!!!!

What would Jesus do?

punish the rich? take more from the rich by force?

Are the rich not taking from the poor?

by force? How so?

How are the poor punishing the rich by force?

Robin Hood democracy.

 

[nobodyknows]

Originally posted by: JS80

Originally posted by: nobodyknows

Originally posted by: CADsortaGUY

Originally posted by: nobodyknows

Originally posted by: CADsortaGUY

Originally posted by: nobodyknows

Originally posted by: Corn

Originally posted by: spidey07
OK - the basic premise of this article is bunk.

"Jan. 30 (Bloomberg) -- The average tax rate paid by the richest 400 Americans fell by a third to 17.2 percent through the first six years of the Bush administration and their average income doubled to $263.3 million, new IRS data show. "

YR2000 Average AGI = 173M
YR2006 Average AGI = 263M

YR2000 Average income tax rate = 22.85%
YR2006 Average income tax rate = 17.17
A reduction of one QUARTER, not third.

Me thinks the person who wrote this article is intentionally distorting facts.

Doesn't matter, PUNISH THE RICH!!!!!!!!!!!!

What would Jesus do?

punish the rich? take more from the rich by force?

Are the rich not taking from the poor?

by force? How so?

How are the poor punishing the rich by force?

Robin Hood democracy.

Controlled by the rich, for the rich.

 

[JS80]

Originally posted by: nobodyknows

Originally posted by: JS80

Originally posted by: MagicConch
The suggestion that they paying the most taxes in the last 15 years is a good thing is humorous to me, especially given that the poor were getting poorer at the same time and that the wealthiest people's tax rate was so low. I wonder if this is the logic that will be used in the future to transfer as much wealth as possible up the ladder and decrease their taxes as much as possible at the same time.

Show me one poor person in the US, then compare him to the poor person globally.

Report: Poor People Pretty Much Fucked

"Not only are the down-and-out fucked, but the number of down-and-out fucks is growing," Park said. "Conditions of disadvantage are often passed from one generation to the next, making it especially difficult for young people to emerge from the cycle of poverty."

The poorest of the poor in the US:

Free shelter
Free food
Freedom to panhandle
Free allowance money from the government
Overweight

The poorest of the poor globally:

Starving
Emaciated
Dead

 

[CADsortaGUY]

Originally posted by: JS80

Originally posted by: nobodyknows

Originally posted by: CADsortaGUY

Originally posted by: nobodyknows

Originally posted by: CADsortaGUY

Originally posted by: nobodyknows

Originally posted by: Corn

Originally posted by: spidey07
OK - the basic premise of this article is bunk.

"Jan. 30 (Bloomberg) -- The average tax rate paid by the richest 400 Americans fell by a third to 17.2 percent through the first six years of the Bush administration and their average income doubled to $263.3 million, new IRS data show. "

YR2000 Average AGI = 173M
YR2006 Average AGI = 263M

YR2000 Average income tax rate = 22.85%
YR2006 Average income tax rate = 17.17
A reduction of one QUARTER, not third.

Me thinks the person who wrote this article is intentionally distorting facts.

Doesn't matter, PUNISH THE RICH!!!!!!!!!!!!

What would Jesus do?

punish the rich? take more from the rich by force?

Are the rich not taking from the poor?

by force? How so?

How are the poor punishing the rich by force?

Robin Hood democracy.

this.

 

[CADsortaGUY]

Originally posted by: nobodyknows

Originally posted by: JS80

Originally posted by: nobodyknows

Originally posted by: CADsortaGUY

Originally posted by: nobodyknows

Originally posted by: CADsortaGUY

Originally posted by: nobodyknows

Originally posted by: Corn

Originally posted by: spidey07
OK - the basic premise of this article is bunk.

"Jan. 30 (Bloomberg) -- The average tax rate paid by the richest 400 Americans fell by a third to 17.2 percent through the first six years of the Bush administration and their average income doubled to $263.3 million, new IRS data show. "

YR2000 Average AGI = 173M
YR2006 Average AGI = 263M

YR2000 Average income tax rate = 22.85%
YR2006 Average income tax rate = 17.17
A reduction of one QUARTER, not third.

Me thinks the person who wrote this article is intentionally distorting facts.

Doesn't matter, PUNISH THE RICH!!!!!!!!!!!!

What would Jesus do?

punish the rich? take more from the rich by force?

Are the rich not taking from the poor?

by force? How so?

How are the poor punishing the rich by force?

Robin Hood democracy.

Controlled by the rich, for the rich.

vote for the rich guy who wants to take the other rich guy's money and give to the voter.

 

[idiotekniQues]

republicans = folks dreaming for feudalism

 

[JS80]

Originally posted by: idiotekniQues
republicans = folks dreaming for feudalism

and democrats = ?

 

[mugs]

Originally posted by: venkman
Tell me again why I'm paying 35% and they are paying 17%?

I don't believe that someone who is in the 35% tax bracket would not understand what a marginal tax rate is. The article in the OP is not about marginal tax rates. If you're actually paying 35% of your income in federal income tax, you're doing something wrong.

(To pay 35% of your income in federal income, or rather 34.5%, you'd have to make about $4 million/yr and not deduct anything)

 

[nobodyknows]

Originally posted by: CADsortaGUY

Originally posted by: nobodyknows

Originally posted by: JS80

Originally posted by: nobodyknows

Originally posted by: CADsortaGUY

Originally posted by: nobodyknows

Originally posted by: CADsortaGUY

Originally posted by: nobodyknows

Originally posted by: Corn

Originally posted by: spidey07
OK - the basic premise of this article is bunk.

"Jan. 30 (Bloomberg) -- The average tax rate paid by the richest 400 Americans fell by a third to 17.2 percent through the first six years of the Bush administration and their average income doubled to $263.3 million, new IRS data show. "

YR2000 Average AGI = 173M
YR2006 Average AGI = 263M

YR2000 Average income tax rate = 22.85%
YR2006 Average income tax rate = 17.17
A reduction of one QUARTER, not third.

Me thinks the person who wrote this article is intentionally distorting facts.

Doesn't matter, PUNISH THE RICH!!!!!!!!!!!!

What would Jesus do?

punish the rich? take more from the rich by force?

Are the rich not taking from the poor?

by force? How so?

How are the poor punishing the rich by force?

Robin Hood democracy.

Controlled by the rich, for the rich.

vote for the rich guy who wants to take the other rich guy's money and give to the voter.

Welcome to America, land of the free. Well, free to vote in secret anyway.