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Originally posted by crimvelvet
51% of Americans don't pay taxes - debunked?
That is correct.
29% of wage earners paying 97% of the income taxes.
I get the feeling you were hoping to debunk it in the other direction. If you include sales tax or hidden taxes then everyone of course pays tax.
This applies ONLY to overt federal tax on earnings:
50% of WAGE EARNERS pay less than 3% of the taxes. The Employment-Population Ratio was 58.2% in Jun 2011.
You are looking at 29% of wage earners paying 97% of the income taxes.
The Civilian Labor Force Participation Rate was 64.1% in Jun 2011
The labor force is the sum of employed and unemployed persons. ( includes those 16 years and over who work) The labor force participation rate is the labor force as a percent of the civilian non-institutional population. [Not in prison etc.]
Not in the labor force: Persons who are neither employed nor unemployed are not in the labor force. This category includes retired persons, students, those taking care of children or other family members, and others who are neither working nor seeking work. Information is collected on their desire for and availability for work, job search activity in the prior year, and reasons for not currently searching.
This was 83,941,000 in 2010. In 2010 1,173,000 listed Discouragement over job prospects up from 778,000 in 2009.
The Employment-Population Ratio was 58.2% in Jun 2011
Information from Bureau of Labor Statistics and Tax Policy Center (Democrats)
I also believe that the federal reserve should be scrapped for regional banking systems regulated by states....
CAMPAIGNING FOR STATE-OWNED BANKS
While bank bailouts fatten Wall Street, states continue to battle the credit crisis. In the search for innovative solutions, some political candidates are proposing that states generate their own credit by setting up their own banks.....
Amanda Paulson, writing in The Christian Science Monitor, quotes Arturo Pérez, fiscal analyst with the National Conference of State Legislatures, which released its survey of state budget situations in December:
“Unless you’re North Dakota, you’re probably a state that has had some degree of difficulty or crisis involving finances. It’s the worst situation states have faced in decades, perhaps going as far back as the Great Depression in some states.”
“Unless you’re North Dakota” – a state with a sizeable budget surplus, and the only state that is adding jobs when other states are losing them...
Candidates Across the Political Spectrum Pick Up on the Public Bank Model
In the quest to find ways to divorce the well-being of their states from the financial sector, a growing number of candidates are picking up on the public bank alternative. Florida, Illinois, Oregon, Massachusetts, Idaho and California all have candidates whose platforms contain this proposed solution to the credit crisis.
A publicly-owned bank has also been proposed on the federal level. Nationalizing the Federal Reserve (which is not actually federal but is owned by a consortium of private banks) was advocated by 2008 Presidential candidates Dennis Kucinich, a Democrat, and Cynthia McKinney, the Green Party candidate. In 2009, Nobel laureate Joseph Stiglitz said the government would have been better off funding a federally-owned bank than doling out trillions of dollars to private investment banks and CEOs who speculated their way into bankruptcy....
Originally posted by spyder550
So is the reason that we are all talking about this is because of a megachurch preacher?
Nice to see we all seem to have in general the same feeling towards the fed. Is there anyone who actually supports the butchering of our dollar value in order to increase the size and scope of our government?
It is simply a fundamental part of Capitalism.
America saw its agricultural system intentionally subjected to political policies that radically transformed it....
Composed of chief executive officers and chairmen from the federal reserve, the banking industry, private equity firms, insurance companies,... CED determined that the problem with American agriculture was that there were too many farmers. But the CED had a "solution" millions of farmers would just have to be eliminated.
In a number of reports written over a few decades, CED recommended that farming "resources" " that is, farmers" be reduced. In its 1945 report Agriculture in an Expanding Economy, CED complained that "the excess of human resources engaged in agriculture is probably the most important single factor in the ˜farm problem’" and describes how agricultural production can be better organized to fit to business needs...
The human cost of CED’s plans were exacting and enormous.
CED’s plans resulted in widespread social upheaval throughout rural America, ripping apart the fabric of its society destroying its local economies. They also resulted in a massive migration to larger cities.......
an economic system in which investment in and ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by private individuals... dictionary.reference.com...
New money does not appear magically in equal percentages in all people's bank accounts or under their mattresses. Money spreads unevenly, and this process has varying effects on individuals, depending on whether they receive early or late access to the new money. This was one of Mises's original contributions to monetary theory, one that is ignored by all other schools of economic analysis.... Mises argued that the losses of the late-coming losers are the source of income for the early arrival winners....
...This indicates a fundamental aspect of Mises's monetary theory that is rarely mentioned: the expansion or contraction of money is a zero-sum game.... The economic benefits obtained by the early users of new money, even gold, are made at the expense of those who gain access to it after it has altered the array of prices.... www.lewrockwell.com...
the truly rich have all the tangible assets that keep them rich regardless of circumstances.
....Show me ONE individual in the actual top 10% of income earners in the united states that is no longer rich and I will submit.
.....An inspector, armed with many official looking pieces of paper, looked Big John in the eye and said, “Assume the position!”
John was frisked. The authorities stopped just short of a full body cavity search. It was a very thorough exam.
“Wait,” protested Big John. “The meat came in with bad stuff already on it. I didn’t put it there. Go after the people who sent it to me!”
“Obviously you don’t understand the way we do things around here,” chuckled the inspector who was amused by Big John’s apparent naivety....
This is exactly why we have this problem. Your telling me that giving me an AVERAGE, including ALL THE TAXES PAID, is an accurate representation of the data. Yes, and No.
This article should show you NOTHING but how disproportionate the income for that 29% is compared to the rest of us. Think about it. I know I can't be the only one that sees this.