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The worst freeloaders are all at the top. And also the absolute worst whiners.
Originally posted by schuyler
The claim is made about Federal income taxes, so in that sense you are correct because most everyone has to pay sales taxes, gas taxes, property taxes (even through rent), etc. If the claim is "the poor don't pay taxes" then it is, indeed, a lie, but I think if you look more carefully at what people are saying, they don't say it quite like you are claiming. Here's the actual breakdown of Federal taxes from the IRS, corrected to 2010:
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
The bottom 47% paid no federal income taxes at all.
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.
What galls me and what I'm sick & tired of is people claiming that I, being at about 5% and paying 58% of all the income taxes, am not paying my "fair share." What does "fair" even mean in this context? You want ALL of it? the fact is someone has to actually produce and earn it first before you can take it away. The fact is that if you take away the incentive to produce, no one does, then everyone gets to be equal, equally poor.
Every self-described conservative here sooner or later calls many of the poor freeloaders who don't pay taxes because they get a refund at the end of the year.
They equate a refund with not paying taxes.
Yet every single week, everyone who gets a paycheck pays taxes upon their income. In effect, even if they get a refund, they are giving the federal government an interest-free loan for a year.
Whenever they fill their tank with gas, they pay taxes.
On the other hand, those who "invest" (that's gamble to the rest of us) only pay taxes on capital gains when the are realized, even though they are free to use the gains in real time as security for loans whose interest they get to write off.
They also get to write off many living expenses like the gas taxes and personal purchase taxes as "business expenses", that the poor can't.
On top of that, many pay their taxes on a quarterly or annual basis to avoid the free-loan aspect.
Originally posted by spacekc929
Your statistics are very, very deceitful. How much "income" the top 1% has is much less than what they actually have, and income taxes are more harmful to the poor because their income is all they have. The wealthy make money on investments, not from regular jobs, like the middle class and lower class do. How much wealth in general does the the top 5% have? It's not about income as much as it's about how much wealth in concentrated in the upper hands?
www2.ucsc.edu... (bottom of the second table)
The top 20% have 93% of the wealth. According to your statistics, the top 25% only pay around 86% of the income taxes (I am imagining the top 20% is somewhere between 81 and 84%), but yet they have 93% of the total country's wealth. That doesn't seem like the fair share, now does it?
edit on 12/7/2011 by spacekc929 because: (no reason given)
Originally posted by spacekc929
The wealthy make money on investments,