Top 1% pays 50% of the taxes.

[Budmantom]

It crazy how we demonize the rich yet they are the ones that keep this country running.

I wonder how far behind the rest of the country is.



NY Post

 

[retrospooty]

I have heard that before... I call total BS

Show me a real verifiable link that shows the top earning 1% pays 50% of the countries income tax.

Also, show a verifiable link to the lower x percentage that pays zero tax. Also total BS. When I was young and just starting out I made only 12,000 one year and $14,000 the next and I still paid a few thousand in taxes each year.

 

[bbdub333]

(thread)

HARRRRRRRR REPUBLIRATS TRAITOR IN CHIEF IRAQ RON PAUL BILLY MAYS SHAM-WOW BIG JOHN DALY FREEEEEEEDOM

(/thread)

 

[halik]

NYC is a lib clusterfuck when it comes to politics, If i don't ever end up over there (again) I'd be happy...

It's things like the park(ing) day where retards take over a metered spot and roll fake grass carpet and masturbate each other over how progressive they are ... it really grinds my gears.

 

[ProfJohn]

Originally posted by: retrospooty
I have heard that before... I call total BS

Show me a real verifiable link that shows the top earning 1% pays 50% of the countries income tax.

Also, show a verifiable link to the lower x percentage that pays zero tax. Also total BS

The IRS numbers are out there.

For the country as a whole the bottom 50% pay about 3% of income tax.

The top 25% pay 86% of all income taxes.

And the top 1% pay 39% of all income taxes.

BTW all those numbers went up under Bush.

 

[CLite]

Originally posted by: Budmantom
It crazy how we demonize the rich yet they are the ones that keep this country running.

I wonder how far behind the rest of the country is.



NY Post

Bloomburg said "something like 1% pays 50%". He didn't use any real numbers.

I'd be interested in looking at the %'s if you include total tax revenue, property + income. The really interesting part would be to include sales tax *however* this is impossible to split fairly between people as there is no tracking system. It would be the best measure of who contributes if you can manage a way to track it though.

 

[Budmantom]

Originally posted by: retrospooty
I have heard that before... I call total BS

Show me a real verifiable link that shows the top earning 1% pays 50% of the countries income tax.

Also, show a verifiable link to the lower x percentage that pays zero tax. Also total BS. When I was young and just starting out I made only 12,000 one year and $14,000 the next and I still paid a few thousand in taxes each year.

I see that you read the story or my post.

 

[CLite]

Originally posted by: ProfJohn

Originally posted by: retrospooty
I have heard that before... I call total BS

Show me a real verifiable link that shows the top earning 1% pays 50% of the countries income tax.

Also, show a verifiable link to the lower x percentage that pays zero tax. Also total BS

The IRS numbers are out there.

For the country as a whole the bottom 50% pay about 3% of income tax.

The top 25% pay 86% of all income taxes.

And the top 1% pay 39% of all income taxes.

BTW all those numbers went up under Bush.

This doesn't include sales tax, which is a very real % of state revenue in some places. Once again it's an important number that is being conviently ignored.

 

[Deleted member 4644]

Originally posted by: Budmantom
It crazy how we demonize the rich yet they are the ones that keep this country running.

I wonder how far behind the rest of the country is.



NY Post

This post sucks so hard I hardly know where to start..

The rich have been fleecing us all with INSANE investment ripoffs that either 1) are or 2) should be illegal.

The income and wealth of the rich has skyrocketed in the last 10 years.

There are statistics showing that the top 10% of the country has 80%+ of the wealth, with a lot of that being concentrated in the top 1%.

Other statistics show that the top 1% makes something like 30% of all income in the country.

Finally, even if the tax rates are extremely high for the rich, most of the rich don't pay that much in taxes because they have great lawyers and accountants.

I come from one of the richest zip codes in the entire U.S. (Top 10 to top 50, depending on your metric).

Trust me, I know what I am fucking talking about.

 

[bbdub333]

Originally posted by: retrospooty
I made only 12,000 one year and $14,000 the next and I still paid a few thousand in taxes each year.

You are either a liar or an idiot if this is the case. Even if you had absolutely no deductions, you'd pay maybe $500 in income tax if this was all regular income from a regular job. If you really did pay a few thousand in taxes, you need to hire an accountant.

 

[halik]

Originally posted by: bbdub333

Originally posted by: retrospooty
I made only 12,000 one year and $14,000 the next and I still paid a few thousand in taxes each year.

You are either a liar or an idiot if this is the case. Even if you had absolutely no deductions, you'd pay maybe $500 in income tax if this was all regular income from a regular job. If you really did pay a few thousand in taxes, you need to hire an accountant.

Liar,
I made $14.xxxK in 2008 (full time grad student) and before any deduction my I owed $772 in federal.

After tuition and health care credits I owed $0 in federal 🙂

 

[StageLeft]

Even if the numbers are off, they're pretty wild, regardless of what the real truth is. The problem with money is it's like a snowball down a hill, a little bit gets bigger and bigger, so although the rich do pay more than the poor, by virtue of their money they tend to make more and more anyway (anybody investing in a compound manner can do this). My point is: Yes, they pay more. It may not be fair if you look at simple stats, but society in general is providing them an environment in which they can get very rich, so things seem to be working out ok for them.

Another way to look at it is: Poor blue collar guy works 40 hours/week and has $30k. Rich guy works 40 hours/week and has 4000k and pays 1500k of that in taxes, both put in effort, one guy is rich. Fairness is hard to nail down.

 

[Budmantom]

Originally posted by: bbdub333

Originally posted by: retrospooty
I made only 12,000 one year and $14,000 the next and I still paid a few thousand in taxes each year.

You are either a liar or an idiot if this is the case. Even if you had absolutely no deductions, you'd pay maybe $500 in income tax if this was all regular income from a regular job. If you really did pay a few thousand in taxes, you need to hire an accountant.

Lib on Lib hate crime?

 

[bbdub333]

Originally posted by: Budmantom

Originally posted by: bbdub333

Originally posted by: retrospooty
I made only 12,000 one year and $14,000 the next and I still paid a few thousand in taxes each year.

You are either a liar or an idiot if this is the case. Even if you had absolutely no deductions, you'd pay maybe $500 in income tax if this was all regular income from a regular job. If you really did pay a few thousand in taxes, you need to hire an accountant.

Lib on Lib hate crime?

What?

 

[Red Dawn]

It wouldn't bother me to pay an inordinate percentage of my income for taxes if I was in the top 1%. I mean it's not as if I wouldn't be able to afford my 200ft yacht, private jet and multiple mansions with staff.

 

[shiner]

Originally posted by: Red Dawn
It wouldn't bother me to pay an inordinate percentage of my income for taxes if I was in the top 1%. I mean it's not as if I wouldn't be able to afford my 200ft yacht, private jet and multiple mansions with staff.

If you were in that situation I bet you'd change your tune.

 

[ayabe]

Yeah let's talk percentages, that is THE ONLY WAY TO GAUGE FAIRNESS.

The rest is just sniveling from the anti-tax, sweatervest-wearing, cockgobbling Norquist dittoheads.

 

[heyheybooboo]

The top 1% of the USA holds 38% of net worth.

The Top 5% of the USA holds 59% of net worth.

The Top 10% of the USA holds 70% of net worth.


The 'middle class' (maybe 60%+ if we are lucky) maintains the rest ...


25% (and growing) of the USA has zero or negative net worth.

 

[Red Dawn]

Originally posted by: shinerburke

Originally posted by: Red Dawn
It wouldn't bother me to pay an inordinate percentage of my income for taxes if I was in the top 1%. I mean it's not as if I wouldn't be able to afford my 200ft yacht, private jet and multiple mansions with staff.

If you were in that situation I bet you'd change your tune.

I'd like to give it a try and find out😉 I think I'd be like Warren Buffet and Bill Gates and not complain about it.Hell Buffet say it's a fair trade off.

 

[OCGuy]

Originally posted by: retrospooty

When I was young and just starting out I made only 12,000 one year and $14,000 the next and I still paid a few thousand in taxes each year.

I call shens. Making 12K with the standard deduction ~5K? means you were taxed on 7K.

You paid a "few thousand" on 7K?


Go back to your WoW raid kiddie.

 

[spidey07]

Originally posted by: Red Dawn

Originally posted by: shinerburke

Originally posted by: Red Dawn
It wouldn't bother me to pay an inordinate percentage of my income for taxes if I was in the top 1%. I mean it's not as if I wouldn't be able to afford my 200ft yacht, private jet and multiple mansions with staff.

If you were in that situation I bet you'd change your tune.

I'd like to give it a try and find out😉 I think I'd be like Warren Buffet and Bill Gates and not complain about it.Hell Buffet say it's a fair trade off.

While the top 1% are pretty well to do, the top 5 or 10% really isn't rich and still pay a boat load in taxes. You'd change your mind if you were in that group and saw every year how much you pay. 40K in income tax freaking sucks.

 

[Deleted member 4644]

Originally posted by: shinerburke

Originally posted by: Red Dawn
It wouldn't bother me to pay an inordinate percentage of my income for taxes if I was in the top 1%. I mean it's not as if I wouldn't be able to afford my 200ft yacht, private jet and multiple mansions with staff.

If you were in that situation I bet you'd change your tune.

Dude,

I come from a suburb of Los Angeles that is one of the richest places in the entire country. I know personally dozens of people worth 100s of millions and several worth billions.

A few weeks ago I talked to a guy worth about $100 million for hours about the economy.

It is a fucking GAME for these people, even now after the meltdown. They don't want for ANYTHING. They could literally by a jetplane or a football stadium if they had the whim.

But a lot of them are still frugal, and don't waste money. And a lot of them hate taxes.

But, actually, a lot of them DON'T hate taxes, and admit that they have more money than they could personally ever use.

The super rich fall into three groups:

1) Those who don't care about taxes because they know they can have anything they want in the world.

2) Those who don't like taxes because they believe the government is inefficient.

3) Those who don't like taxes because they are disgusting greedy animals who love playing a game to see who's dick is bigger.


Also, they don't PAY THE TAXES AT THE "RATE" SET BY THE GOVERNMENT. They have squadrons of tax lawyers who can turn a tax bill of $10 million into a tax bill of $100,000.

If you don't believe me, you are either 1) too fucking pathetically poor to know the people I know or 2) an idiot.

Edit: Ironically, even the liberal ones don't actually pay the taxes. They use the lawyers too.

 

[Red Dawn]

Originally posted by: spidey07

Originally posted by: Red Dawn

Originally posted by: shinerburke

Originally posted by: Red Dawn
It wouldn't bother me to pay an inordinate percentage of my income for taxes if I was in the top 1%. I mean it's not as if I wouldn't be able to afford my 200ft yacht, private jet and multiple mansions with staff.

If you were in that situation I bet you'd change your tune.

I'd like to give it a try and find out😉 I think I'd be like Warren Buffet and Bill Gates and not complain about it.Hell Buffet say it's a fair trade off.

While the top 1% are pretty well to do, the top 5 or 10% really isn't rich and still pay a boat load in taxes. You'd change your mind if you were in that group and saw every year how much you pay. 40K in income tax freaking sucks.

Not if I made a couple of mill a year.

 

[ayabe]

Originally posted by: ProfJohn

Originally posted by: retrospooty
I have heard that before... I call total BS

Show me a real verifiable link that shows the top earning 1% pays 50% of the countries income tax.

Also, show a verifiable link to the lower x percentage that pays zero tax. Also total BS

The IRS numbers are out there.

For the country as a whole the bottom 50% pay about 3% of income tax.

The top 25% pay 86% of all income taxes.

And the top 1% pay 39% of all income taxes.

BTW all those numbers went up under Bush.

because the top 1% made a killing under Bush, so while the percentage of their income that they paid actually went down drastically, the total dollar amount increased. It also doesn't help that wages for the middle class were stagnant this entire time.

But we've had this conversation 1000 times, you people just don't get it.

If I pay 29% of my income to the Feds and that equals $30K you can't cry about unfairness because Joe Millionaire only pays 20% but his total dollar amount is $500K.

That IS RIDICULOUS.

 

[heyheybooboo]

Originally posted by: spidey07

Originally posted by: Red Dawn

Originally posted by: shinerburke

Originally posted by: Red Dawn
It wouldn't bother me to pay an inordinate percentage of my income for taxes if I was in the top 1%. I mean it's not as if I wouldn't be able to afford my 200ft yacht, private jet and multiple mansions with staff.

If you were in that situation I bet you'd change your tune.

I'd like to give it a try and find out😉 I think I'd be like Warren Buffet and Bill Gates and not complain about it.Hell Buffet say it's a fair trade off.

While the top 1% are pretty well to do, the top 5 or 10% really isn't rich and still pay a boat load in taxes. You'd change your mind if you were in that group and saw every year how much you pay. 40K in income tax freaking sucks.

uhh, no.

The top 10% of this country controls 70% of net worth. Only a measly $35-$40 trillion.