Quit Complaining -- $100K-Plus Earners Pay 72% of Federal Income Taxes

page: 1
18
<<   2  3  4 >>

log in

join
+1 more 
posted on Apr, 14 2014 @ 09:02 PM
link   
With all the shouting about raising taxes on the rich you would think the complainers would see what's really going on !!!

It seems oddly enough that individuals making north of $100K are taking the brutal end of the tax-attack.

To the tune of 72% of all the collected Federal income taxes !!!!

Many see this as totally outrageous and I know some might be calling for tax reforms to equalize this immoral imbalance !!

I don't know the solution.

But I know some will say it's high time the under $20K earners start paying their fair share too.




Taxpayers earning $100,000 or more a year pay 71.6% of the nation’s share in individual federal income taxes, according to the latest data from the Internal Revenue Service (IRS) from 2011.

These data do not include corporate income taxes, or taxes on capital gains or dividends, or payroll taxes for Social Security and other programs.




$100K-Plus Earners Pay 72% of Federal Income Taxes


O-U-T rageous








posted on Apr, 14 2014 @ 09:11 PM
link   
From 1986 to 2004, the total share of the income tax burden paid by the top 1 percent of income earners grew by nearly half, from 25.8 percent to 36.9 percent.

Over that same time, the burden of the bottom 50 percent of earners was almost halved from 6.5 percent to 3.3 percent.

The Tax Foundation has noted that in 2000, a year before the first tax cuts under Bush, roughly 30 million tax returns had no income tax liability. Every dollar those earners made they kept.

By 2004, a year after the second round of cuts was passed, 43 million returns had no tax. It estimates that, in all, more than 25 million Americans have been wiped off the federal tax rolls just by President Bush.

OK: To summarize, then.

The top 1% pay over a third of the taxes.
The top 50% pay about 96% of the taxes.
The bottom 50% pay a little over 3% of the taxes with 43 million returns paying NOTHING at all.

You want to know why you don't have a job? It's because the $1.00 that could have been invested went to the government instead.

Some more figures from 2008--adjusted to 2010

100%: 139,960,580 returns paid taxes of $1,031,512mil for 100% AGI for 100% of taxes
Top 1%: 1,399,606 returns paid $392,149mil for 20.70% AGI for 38.02% of taxes
Top 5%: 6,998,029 returns paid $213,569mil for 34.73% AGI for 58.72% share
Top 10%: 13,996,068 returns paid $721,421mil for 45.77% AGI for 69.94% of taxes
Top 25%: 34,990,145 returns paid $890,614mil for 67.38% AGI for 86.34% of taxes
Top 50%: 69,980,290 returns paid $1,003,639mil for 87.25% AGI for 97.30% of taxes
Bottom 50%: 69,980,290 returns paid $27,783 mil for 12.75% AGI for 2.59% of taxes.

AGI = Adjusted Gross Income. So to put this in story problem form:

The top 1% earned 20.70% of the income, but paid 38.02% of all income taxes.
The top 5% earned 34.73% of the income, but paid 58.72% of all income taxes.
The top 10% earned 45.77% of the income, but paid 69.94% of all income taxes.
The top 25% earned 67.38% of the income, but paid 86.34% of all income taxes.
The top 50% earned 87.25% of the income, but paid 97.30% of all income taxes.
The bottom 50% earned 12.75% of the income, but paid 2.59% of all income taxes

Now let’s put that in perspective.

The top 1% means your adjusted gross income is at or above $380,354.
The top 5% means your adjusted gross income is at or above $159,619.
The top 10% means your adjusted gross income is at or above $113,799.
The top 25% means your adjusted gross income is at or above $67,280.
The top 50% means your adjusted gross income is at or above $33,048.
The bottom 50% means your adjusted gross income is below $33,048.

So when you say, "Tax the rich," well, you already have.


+26 more 
posted on Apr, 14 2014 @ 09:17 PM
link   
How about - instead of playing into the 1%/99% game on who pays what - we just abolish the IRS and come up with something more practical and less intrusive/abusive for all citizens?


+5 more 
posted on Apr, 14 2014 @ 09:18 PM
link   
I don't think - at least for myself - that it is that the poor feel burdened with the majority of the tax load, it is that below a $60,000.00 annual household income it is difficult to get by and still save for retirement. Higher income earners, even after paying a higher percentage of their income, are still well above what it takes to get by comfortably.

There is a very large lifestyle difference between 60k after tax and 60k before tax.... as I have recently discovered. It has been draining on local business that I can't afford to spend what I could before I lost $20,000/year. Imagine if everyone in the 60k bracket got to spend their tax on goods and services. Would there be a recession or as much of a need to give risky loans to sell a home?


+20 more 
posted on Apr, 14 2014 @ 09:20 PM
link   
You do know that if people have less, they can only afford to pay less?

Can't tell if the OP is sarcastic or doesn't understand how the stats work...


+27 more 
posted on Apr, 14 2014 @ 09:26 PM
link   
Huffington Post Article


By contrast, the share of total net worth held by the weathiest 1 percent of American households continued rising, hitting 34.5 percent in 2010. The top 10 percent's share was 74.5 percent.


It says before that that the bottom half of Americans own just over 1 percent of the wealth in the country.

Most of us pay more than our fair share when you consider the scraps that we're given and the scraps that we're expected to survive on.

Wanting a fair wage for the value that I add to a company and to not be treated like an animal while I'm working doesn't make me a bad person. If you think it does, then you're the enemy of every working man, woman, and youngster in this country, plain and simple, including your own self and your family.

As for how to do that, we can start by lowering taxes on everybody, streamlining redtape so that they don't favor corporations so much, cracking down on companies that employ illegal immigrants without making due diligence to verify their work eligibility, and, for the love of God, repealing the disaster that is the ACA.

I'm poor. That doesn't make a bad person, that doesn't make me lazy, and that doesn't make me some kind of animal that it's okay to spit on whenever you feel like you pay too much in taxes. It's not my fault that the government is taxing you and me both to death. I don't make the rules, I don't make the laws, and I have a whole lot less power than those folks at the very top that lobby the crap out of Congress.

So, if you're angry at something and somebody, why don't you get angry and start lecturing the people that actually have the power instead of chiding me about how grateful I should be for the scraps that I am given? But, no, it's a lot easier to simply take your frustrations out on people that don't have the power to do anything about it.



posted on Apr, 14 2014 @ 09:34 PM
link   
In the UK there is a large problem of poor people who work full-time, and generally lots of overtime, but still can't afford to live. I can't afford to get a place for my own, or even share with a mate, despite working full-time in care (I'm seeking a better job). Increasing the threshold of tax will probably help by about £20 a month and seems like a political move, it's not exactly a solution.



posted on Apr, 14 2014 @ 09:38 PM
link   
You're welcome...


+22 more 
posted on Apr, 14 2014 @ 09:39 PM
link   





Taxpayers earning $100,000 or more a year pay 71.6% of the nation’s share in individual federal income taxes, according to the latest data from the Internal Revenue Service (IRS) from 2011.


Yet more propagandist statistics abuse to convince the foolish that the wealthy are overburdened.

Of course, if you take all of the top earners and combined what they pay it's going to be a majority of what's generated. I'll show you some simple numbers to explain

Tom makes 20,000 a year and pays 10% in taxes, that's 2,000
Bob makes 200,000 a year and pays 5% in taxes, that's 10,000.
Bob still pays the government the same as 5 toms, so what should we do?
In America people cry out, "it's not fair, save Bob, he's paying more than Tom". Everywhere else, people wonder why Tom is giving up a greater portion of his yearly income than Bob is, despite the fact that Bob can obviously stand to pay more.

And that's the inherent problem. The higher wage earners aren't as burdened by taxes as the rest of the world but they still have their advocates. Surely we should abolish the IRS and the insane tax code they've developed and come up with something more logical, something that would actually sustain this country, after we fix all of the other economic problems.

But I dare say it would require the tiniest pinch of socialist ideas.



posted on Apr, 14 2014 @ 09:43 PM
link   
more then 1/4th of my income is taken in taxes, and thats just income tax, this also doesn't include all the other ridiculous conformities and fees starting with local yard police to gas prices, yeah everything is a tax lol gas tax for highways sure, too bad highways here are now privatized and tolled to pay for roadways, sales tax on foreign goods but no tax to import that shizz to here but no choice but to buy foreign cause the business in america was taxed to high holy hell (or cheaper countries) etc etc. Money and economics is evil.



posted on Apr, 14 2014 @ 09:47 PM
link   
I don’t think that the amount of money one pays in tax is an issue. Someone who makes $1b in a year can afford to pay 50% but they’re still taking home $500m for a year’s work, or about $10m clear per week. Someone who makes $35k in a year can’t afford to pay 50%. They’d be left with $17,500 to survive, but not only that, one must look toward the future and their retirement.

It’s only logical that the top 50% of earners will pay more in tax and will burden a greater overall percentage of the bill. I’d hate to see what it’d be like if the bottom 50% out payed the top 50% in income tax.

In my opinion, corporations need to pull their weight with their taxes, which of course they certainly do not. If they did, personal income tax could be further reduced.



posted on Apr, 14 2014 @ 09:48 PM
link   
reply to post by kosmicjack
 


Add to that.

Holding those criminals/thieves/bureaucrats people in Government accountable to spending limits? You know, like everybody else, that whole living within a budget/means thing?



posted on Apr, 14 2014 @ 09:59 PM
link   
reply to post by xuenchen
 


Last year alone, my parents paid $450K in taxes. They are doing fabulous, yet they still complain about the amount of taxes they pay. $450K is an incredible amount and is about 30% of their combined income. Taxes are insane, and lower taxes for the bottom 50% ensures the majority vote and perpetuates poverty.

Middle Class Citizens are the divided, the swing voters, who want equality across the board. Screw the whining rich and do not pity or encourage the lower class workforce who choose entitlements over equality. Both do not care for equality, they are equally selfish and allowed entitlement.

The Blue Collar Middle Class carries the power in this country, unrealized, yet if only we could unite and vote appropriately to end abuses on both ends of the spectrum. Strategic voting would cure what ails us, very well planned in mass, quite an undertaking.



posted on Apr, 14 2014 @ 10:40 PM
link   


lower taxes for the bottom 50% ensures the majority vote and perpetuates poverty


How the hell does lower taxes for people struggling to afford living in our ultra-expensive country equal poverty???

All of you who are mad that some rich people are actually paying taxes should realize that they're paying the majority because corporations are paying little to none. Put the blame where it actually belongs instead of scapegoating poor people.



posted on Apr, 14 2014 @ 10:46 PM
link   
A person who earns thirty thousand bucks a year usually works just as hard as someone making a hundred fifty grand a year. If the person at a hundred fifty grand a year has personal assets at risk like he runs a company, I can see deserves a tax break. Most people in the hundred grand a year jobs have little at risk, they work for corporations. Also remember that many of these top people get benefits and also stock options and pay little tax on them. No tax on a company car or paid expenses for travel and lodging and food.

I knew people who worked for big corporations.

There are going to be some changes coming up and some people will not like these changes, especially the upper middle class. They are the ones who will loose their benefits. Subcontracting labor will be the big thing shortly and that will be based on how much you produce or make the company. Bennies will be a thing of the past. Pensions will be gone, it will all be 1099s



posted on Apr, 14 2014 @ 10:47 PM
link   
reply to post by CB328
 


The greater earned income you make, the more you can afford to give, plain and simple. If you extend entitlements to low income earners, they gain without earning more, therefore there is no incentive to earn more, and to top it off, they vote for politicians who promise to increase their subsidies or at least maintain them.

If you want more money, earn it.
edit on 14-4-2014 by Boscov because: (no reason given)



posted on Apr, 14 2014 @ 10:53 PM
link   

CB328



lower taxes for the bottom 50% ensures the majority vote and perpetuates poverty


How the hell does lower taxes for people struggling to afford living in our ultra-expensive country equal poverty???

All of you who are mad that some rich people are actually paying taxes should realize that they're paying the majority because corporations are paying little to none. Put the blame where it actually belongs instead of scapegoating poor people.


With the looming tax revolt coming soon ....

Where will the money come from then ?

Who will pay the bills for the non-taxpayers?




posted on Apr, 14 2014 @ 11:10 PM
link   
With all due respect OP, one would think that you would be able to see beyond those cooked ass statistics. Hope that you don't keep believing the hype. Between the fv@ked up laws and tax write-off loopholes, get real.



posted on Apr, 14 2014 @ 11:16 PM
link   
reply to post by xuenchen
 



These data do not include corporate income taxes, or taxes on capital gains or dividends, or payroll taxes for Social Security and other programs.


I've read that the corporate income tax revenue of all states combined was only close to 50% of the overall revenue in the US. Which is weird.
What is the highest corporate tax rate in the top bracket in the US at the moment?

Just FYI:
The highest rate for the top corporate income tax bracket in Germany (aka Socialist Europe) is 47,48 % (above € 250.730+).

Not that I agree with that level of taxation... just wanted to ask and throw this out there.

*eta: Nevermind I found it myself.
edit on 14-4-2014 by ColCurious because: (no reason given)



posted on Apr, 14 2014 @ 11:20 PM
link   

poloblack
With all due respect OP, one would think that you would be able to see beyond those cooked ass statistics. Hope that you don't keep believing the hype. Between the fv@ked up laws and tax write-off loopholes, get real.


well by all means...

show us all about that.

luv to see it.

reality will show itself when the tax revolts start.







top topics



 
18
<<   2  3  4 >>

log in

join