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An enormous percentage of taxes are payed by a minority of Americans:
* The Top 1% of taxpayers pay 29% of all taxes.
* The Top 5% of taxpayers pay 50% of all taxes.
# Our tax system is not so much progressive as it is confiscatory -- Frederic Bastiat called this phenomenon "legal plunder." A progressive tax is based on the premise that those with more income can afford to pay more taxes, and conversely, those with little or no income should pay no tax. However, a quick look at Graph 1A below shows that the U.S. tax system has become far beyond progressive. Fully half the taxpayers contribute almost nothing in individual income taxes.
I'm pretty sure that Exxon's tax payment in 2007 of $30 billion (that's $30,000,000,000) is a record, exceeding the $28 billion it paid last year.
By the way, Exxon pays taxes at a rate of 41% on its taxable income!
[Update: The $40.6 billion and $39.5 billion figures are after-tax profits. For 2006, Exxon's EBT (earnings before tax) was $67.4 billion, it paid $27.9 billion in taxes (41.4% tax rate), and its NIAT (net income after tax), or profit, was $39.5 billion.]
Originally posted by semperfortis
reply to post by whaaa
So you think we should revamp an entire system all do to the mishandling of a single incident, in a single state by a single insurance company?
To quote a previous poster...
"Talk about throwing the baby out with the bath water"
Semper
Originally posted by whaaa
If we can fight wars, maintain a military; how much more difficult can universal healthcare be?
tax break I didn't deserve.
Originally posted by semperfortis
Don't you figure the other businesses think they deserve the breaks they got as well?
Why was your break any more deserved than say... Exxons?
Originally posted by cryingindian
reply to post by semperfortis
You said it...You start the thread. Feel "Free?"
You're wrong.
Originally posted by jsobecky
It would be like preaching to the choir, eh bro? So what's the point.
Originally posted by whaaa
Originally posted by jsobecky
It would be like preaching to the choir, eh bro? So what's the point.
Perhaps to prove that you aren't skeered of another viewpoint and you might actually prescribe to the "Deny Ignorance" theme.
I've learned a lot from you guys!
Originally posted by HHH Is King
Your prescription prices are different because the companies control them. They decide hey, we want to make more money, we'll charge more. And they love that you pay but the government also gives them billions of tax payer dollars.