WHO PAYS WHAT TAXES

[Ulfwald]

DESTROYING THE MYTH OF THE "DECADE OF GREED."

The left just loves to refer to the Reagan years ad the "Decade of Greed." The implication is that higher income types got away with absolute murder during the '80's when it comes to paying income taxes. Well, let's take a look at some statics from the Internal Revenue Service to see just what the various income levels were paying in income tax in 1981, and what they were paying in 1991.

1983 -- THE BEGINNING OF THE DECADE OF GREED -- THE YEAR THE REAGAN TAX BREAKS TOOK EFFECT.

Here we find the top 1% of all income earners in the United States paying a total of 20.3% of all of the personal income taxes collected by the IRS. The top 10% were paying 49.7% of all income taxes, and the top 50% was paying 92.8%. The bottom 50% of all income earners were payign only 7.2% of all income taxes.

1993 -- THE DECADE OF GREED ENDS! CLINTON RAISES TAXES TO THE EVIL RICH WILL PAY THEIR FAIR SHARE!

Ten years later, in 1993, we find the top 1% of all income earners paying 28.7% of all income taxes collected! Wow! Those rich SOB's really got away with murder, didn't they? The top 10% saw their share of total income taxes collected go from 49.7% to 58.8%. The greedy so-and-so's. The top 50% saw their share rise to 95.2% of all taxes, while the bottom 50% saw their share drop from 7.2% to 4.8%.

IT'S 1998 --- HOW ARE THE EXPLOITERS OF THE POOR DOING NOW?

The September 23, 1998 issue of The Wall Street Journal has the new numbers for us. The share of the taxes being paid by the top 1% has gone up again! For the year 1966 they are approaching 33%.

YEAH .. BUT THOSE RICH BASTARDS ARE EARNING SO MUCH THEY STILL WEREN'T PAYING THEIR FAIR SHARE

OK, fine. What would you consider a fair share? If the top 10% was earning 70% of all the income but only paying 58% of the taxes, that wouldn't be fair, would it? Well ... let's see what the figures show.

In 1993, at the end of the Decade of Greed, the top 1% were paying 28.7% of all taxes. They earned only 13.8% of all earned income. Oops! sounds like they are paying a bit more than their fair share, doesn't it? What about the top 10%? They were paying 58.5% of the income taxes but earning only 39% of the income. The top 50%? Paying 95.2% of the taxes, earning 85% of the income. The bottom 50%? Earning only 15% of the income but paying just 4.8% of the income taxes.

Update ... In 1996 the share of the income earned by the top 1% reached 16%. Remember: They're paying one third of all the taxes.

So ... who is getting away with not paying their fair share? Looks like the bottom 50% to me ... not the evil, hated, mean, nasty, wicked rich.

These figures came from The Tax Foundation and IRS Statistics, 1983 through 1993. You go and do your own research and verify them! Then tell me just what the hell Bill Clinton was talking about when he said that the rich need to pay "their fair share."

Excuse me ... I have to go throw up.

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[thebestMAX]

Boy, are you probably going to get flamed on this one.

People only believe what they want to believe so facts become irrelevant. It the old "Us against them" and "Misery loves company" themes that the Dems love to preach.

"I want to fight for you" Do you belive that one???

 

[Ulfwald]

Every t5ime Bore speaks, my BU!!SH!TOMETER goes off the scale

<puts on flamesuit>

 

[rahvin]

Don't forget that the gap between the wealthy and not-wealthy has been increasing rather dramatically the last 30 years. The top 10% of the population controls over 80% of the wealth of this country and as a result of controling more of the wealth they pay more of the taxes. Your numbers only look at their income, income is easy to hide, total wealth is important too.

 

[Ulfwald]

So what you are saying is that because I sacrificed, went to school, saved my money instead of spending it, and through hard work became succesful that I should have to pay more so that some one else can be taken care of through government programs funded by my tax dollars. Basically welfare is federally mandated child support for kids I did not make.

What is happening here is that we are demonizing success, and penalizing it.

 

[thebestMAX]

UFwald

I think that is exaclty what they are all saying.

 

[vi edit]

In 96 or 98, don't remember which, Ross Perot only paid in 8% of federal taxes.

That's lower than my 10-12%.

It's amazing what a good group of accounts can do for you.

 

[Bakwetu]

It's not what how much tax you pay that counts it's how you have left after the taxes. Do you feel poor Ulfwald or are you just greedy?

 

[Ulfwald]

Bakwetu,

I would like to keep what I have EARNED, what has some wellfare mother done to earn what I have earned, nothing except vote some politician into office that uses the power of law to TAKE what I have earned and give it to someone else. America was built by people who got off their arse and made something of themselves. Now, all you have to do is whine and the Governtment will give you money.

Also, what is this EARNED INCOME CREDIT, people who pay no taxes are getting money &quot;back&quot; from the federal government. What it actually is, is taking money out of the pockets of succesful Americans, and giving it to those who made bad choices.

 

[Bakwetu]

so you mean that poor people have themselves to blame and we should just ignore them and their basic needs?

 

[woodie1]

Bakwetu-

You said it better than I could.

 

[FettsBabe]

Its hard to weigh tax percentages. While I agree with what you are saying, it would be hard for the people on the bottom to pay more. They need help and paying taxes doesn't do that.

 

[Ulfwald]

I agree that not all poor people are there because of their decisions, but for the most part, most are there. They choose to spend their money on items that depreciate rather than appreciate.

example,

My wife and i both agree that 30,000 is too much to spend on a car, especially when it's value goes down 33% in the first year. On the other hand, 30,000 is not too much to spend on home improvement because that asset will offer a greater return in years to come. See Smart choice

then there is Billy Bob Redneck who spends money on the jacked up 4x4 chevy truck that is steadily decreasing in value. Buys a case of beer every friday, watches wrestling on Pay per view, has a 36 inch tv, dropped out of highschool, and blames everyone else for his lack of funds. Poor choice.

The successful people keep making choices that make them successful. while the poor make poor choices.