It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

US Decieved Into Beliving Rich Pay Their Fair Share Of Income Tax

page: 1
30
<<   2  3  4 >>

log in

join
share:
+12 more 
posted on Apr, 26 2012 @ 06:02 PM
link   
If you want to skip my jargon, my point is the rich owe roughly $34,000,000,000 in taxes in 2007 alone.

Hey there, good ol' US of A!

If you're a patriot, you're probably in favor of the super-rich, as you've been told they pay the highest % of tax of their income!

According to the IRS, they pay almost 40% of their income in tax a YEAR! WOAH!! No wonder the US is so loaded!

Oh - wait a second... There's a cap on that tax? And the cap isn't even half a million dollars?
Well, since 1% own 40% of the goods...
Let's find out how much, in percentages, the top 1% is paying!

The following statistics are taken from the National Taxpayer's Union. And here's the link:
www.ntu.org...

So... According to these numbers, the rich, in 2007 were paying just over 40% (38% in 2008, 36.7% in 2009, and declining, although the 2010 and 2011 taxes have not been posted) of there income in taxes, which is the highest they've ever paid! How generous and thoughtful towards the rest of America they, and the government is!

Oh - wait a second... There's a limit of $411,000 ($380,354 in 2008, $343,927 in 2009, declining, but more recent years not yet posted)

Well that's probably still a big percent! Let's find out, shall we?

Well first, let's try and find the medium yearly-earning for the top 1%. This is incredibly difficult to find. Why? Because almost all sources of statistical information in the US say that "In order to be included in the top 1% of taxpayers in the US, you must make roughly $400,000 a year." (Roughly 300,000 in some areas, roughly 500,000 in others) Okay, that's fine and dandy, but to anyone with a brain, the super-rich obviously make more that $400,000 a year, therefore, this information is not only completely useless, but also misleading and perhaps even harmful to the many people who don't want to spend their time thinking about this all day.

If one were to look at this graph, he would assume the people paying all that they deserve to in taxes is... well... EVERYONE, right?
www.mybudget360.com...

Yep. Add those numbers up, and you'll get a staggering 100% of the population!

WRONG.

When people think of the top 1% of Americans, they're thinking of the super-elite. The problem with that is, the top 1% aren't anywhere NEAR the super-elites in the US.

While MOST families in the top 1% are paying close to what they owe, there are a few family households in the US which would make even most of the 1%'s vomit in sight of the absolute greed.

Here's the graph explaining it!

www.mybudget360.com...

Here's a wiki snippet!



“As of 2005 there are approximately 146,000 (0.1%) households with incomes exceeding $1,500,000, while the top 0.01% or 11,000 households had incomes exceeding $5,500,000. The 400 highest tax payers in the nation had gross annual household incomes exceeding $87,000,000. Household incomes for this group have risen more dramatically than for any other. As a result the gap between those who make less than one and half million dollars annually (99.9% of households) and those who make more (0.1%) has been steadily increasing, prompting The New York Times to proclaim that the “Richest Are Leaving Even the Rich Far Behind.” Indeed the income disparities within the top 1.5% are quite drastic. While households in the top 1.5% of households had incomes exceeding $250,000, 443% above the national median, their incomes were still 2200% lower than those of the top .01% of households. One can therefore conclude that almost any household, even those with incomes of $250,000 annually are poor when compared to the top .1%, who in turn are poor compared to the top 0.000267%, the top 400 taxpaying households.”


The fact is, if we included the top 0.0002% of the wealthy in this graph, the section that says "42%" would probably shrink to something more like 5%, and it would be much easier to see that it's 400 select families that actually own roughly 40% of all of the US assests and cash.

www.mybudget360.com...

THE BOTTOM LINE IS THIS:

Since this money is obviously not trickling down at the appropriate rate, (Appropriate meaning fair for the other 99.9998% of Americans, according to the "Ideal" Democracy of the founding fathers. And yes, this is indisputably what most of them had in mind.) we should be lifting this "cap" on the gross tax due.

WHY?

Let's figure that out using the numbers from 2007.

Because the median salary of these 400 families is over $87,000,000 (some being much, much, much higher) meaning that in order to pay what the US has decided their "fair share" is, they would pay $34,800,000. Instead, they paid $400,000.

So what is the American public being short-sided with?

400 x 87,000,000 = $34,800,000,000
400 x 400,000 = $160,400,000

$34,800,000,000
- $160,400,000
-------------------------
$34,639,600,000

So, between only 400 families in America... we're still owed 34.639 BILLION DOLLARS

So why couldn't they pay this?

Was it because we didn't need the money? Was it because their families couldn't survive on a median of 50 million dollars a year?

This was money that was supposed to be spent on education, transportation, medicine, social security, national security, veteran pensions, and so on... Yet it remains "play money" for the American Royalty - and they're doing it right under their noses.

So did we decide they could keep the money, America? Or is government just buried too deep underneath their spare change for us to dig it out?

You tell me.

Oh - and one last interesting fact... That money that they OWE OUR GOVERNMENT, SINCE WE ALL PAID OUR FAIR SHARE... WOULD EQUATE TO OVER A THOUSAND DOLLARS FOR EVERY AMERICAN.

That means these people, literally, took $1000 out of every American's pocket that we had already decided was dedicated to fixing our "situations" (Yes, situations with an "s." Not "situation")
edit on 26-4-2012 by thegagefather because: (no reason given)

edit on 26-4-2012 by thegagefather because: (no reason given)




posted on Apr, 26 2012 @ 06:02 PM
link   
reply to post by thegagefather
 


Mods, if you could embed some of this stuff, it would be greatly appreciated. My computer won't let me.



posted on Apr, 26 2012 @ 06:11 PM
link   
reply to post by thegagefather
 


here is a link to the corperations that own or control anlmost everything you buy,
10 corps own almost everything you buy



and here is a list of corperations who spent more on lobbying than on taxes,
in some cases the amount spent on lobbying is in the millions and the companies received massive payouts instead of paying taxes



no taxes but millions on lobbying

whats interesting is that for some corps,
they seem to be able to pay no taxes and instead spend the money on lobbying politicans.

wounder what would happen if these corps paid acual taxes ?
instead of buying legislation to help them install loop holes specifically for them

xploder
edit on 26-4-2012 by XPLodER because: add pics



posted on Apr, 26 2012 @ 06:19 PM
link   

Originally posted by XPLodER
reply to post by thegagefather
wounder what would happen if these corps paid acual taxes ?
instead of buying legislation to help them install loop holes specifically for them


My guess... The world would have a lot less nuclear waste and unhappy poor.



posted on Apr, 26 2012 @ 06:21 PM
link   
Life's not fair... judging by this its not, no



The rich get richer, and the poor get poorer .. that works too



posted on Apr, 26 2012 @ 06:23 PM
link   
Give me one logical reason that we can't make it fair.



posted on Apr, 26 2012 @ 06:26 PM
link   
fantastic post

I also read today 50% of americans pay no federal income tax

wanna guess who bears the heaviest burden ?

the class that made this country great
edit on 26-4-2012 by syrinx high priest because: (no reason given)



posted on Apr, 26 2012 @ 06:29 PM
link   
On top of that, when you look at where the federal government is spending our tax dollars, and future tax dollars, most of the fed expenditure goes directly to protecting the assets of the super rich, in the way of military spending.

What our military does is protect international trade which almost exclusively protects the overseas investments of the super rich.

The U.S. middle class is actually subsidizing the exportation of our industry and our jobs.

The costs of supporting international trade, bailouts, interest on the debt, and even medicaid which is used to subsidize illegal immigration, should be paid for by International Corporations, and included in the cost of those goods and service.


edit on 26-4-2012 by poet1b because: typo



posted on Apr, 26 2012 @ 06:31 PM
link   
Yeah, right. The following is taken directly from the IRS and is adjusted for 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.

"Fair" is a loaded term, as any parent knows. All it means is that you don't agree. It has nothing to do with fairness. Income taxes are a way to pay for government "services," and nothing more. My income group pays nearly 60% of all income taxes. The bottom 50% pays 2.59%. Plus, the bottom 50% gets food stamps for free, free medical care, etc., all things I have to pay for. In other words, their purchasing power is much greater than what their income would suggest. I pay for all that, too.

It is not true that there is a cap. If you make more money, you pay more taxes, and you pay at the highest marginal tax rate, which is 35%. Bottom line is that the top half pay more than 97% of the income taxes and the bottom half pay next to nothing. If the whole thing involves "fairness" then I'm for a flat tax. You pay the same percentage of your income I do and that's fair. You don't pay as much as I do because your income is lower, and I can understand that. That's fair, too. But I shouldn't have to carry you. And you're not getting any more out of me.

edit on 4/26/2012 by schuyler because: (no reason given)



posted on Apr, 26 2012 @ 06:31 PM
link   
reply to post by syrinx high priest
 



the class that made this country great


That would be the middle class, who have developed most of the technological innovations that keeps the U.S. on top.



posted on Apr, 26 2012 @ 06:32 PM
link   
Thank you for the informative post! S&F for you. I've always wanted to join the the "Good Ole' Boy's Club" the only problem was, I was about a trillion dollars short! Can anyone float me a loan?



posted on Apr, 26 2012 @ 06:34 PM
link   
The world needs a rewrite...


To many greedy fat cats in this world, the bigger they get the more they want and the more people suffer, there should be a cap somewhere on this, for all company's, its out of control, when do you ever see these companys putting something back into the system they rape?



posted on Apr, 26 2012 @ 06:35 PM
link   
reply to post by schuyler
 


Just cherry picked numbers that completely ignore the reality.

The bottom 50% of earners are primarily students, young struggling people, and retirees, who spend most of their lives paying in the higher tax brackets.

And your numbers greatly skew the the reality in favor of the super rich, the top 400 tax payers.

Nobody is expecting the Middle Class, where most of us belong, to pay more taxes.

The Middle class pays far too much in Fed taxes for far too little service, and the super rich pay far too little for the considerably higher benefits they get from fed gov service.


edit on 26-4-2012 by poet1b because: Add last two lines.



posted on Apr, 26 2012 @ 06:36 PM
link   
There's a cap of only a few hundred thousand dollars on the taxes that the rich pay?

Then why in the hell are we giving them extensions on their tax breaks?

I bet even with the Bush tax cuts, the richest Americans are only paying the same they have every year.

Smoke and Mirrors. No wonder they hate Ron Paul's idea of scrapping the IRS and doing a sales tax instead ! We'd generate hundreds of billions of dollars extra by doing this.



posted on Apr, 26 2012 @ 06:37 PM
link   

Originally posted by TritonTaranis
Life's not fair... judging by this its not, no



The rich get richer, and the poor get poorer .. that works too

This is a famous misconception, it really should be:
The rich get richer faster than the poor get richer.

Back in the 60's min wage was around $3.00 ish per hour.
Even welfare recipients get more than that these days.

BUT- your basic premise is correct and understood by most. (Not putting you down, its a very common misconception)



posted on Apr, 26 2012 @ 06:42 PM
link   
reply to post by schuyler
 


Hmmm... Chief of non-government tax union vs. corporate-bought IRS...

Hmmm...

And that's nice that you like to argue terms like "fair." I think it was pretty BLATANTLY obvious that the term "fair" meant carrying the pre-determined burden, like every other honest person is.

Don't bring semantics in here, we're using common sense.



Do the research, and link the citations, otherwise your opinion is just that - an opinion - and sometimes opinion is invalid, even if that does make the opinion-holder angry.

I suppose that last comment wasn't unfair, since the term is subjective, was it?



posted on Apr, 26 2012 @ 06:44 PM
link   
reply to post by calnorak
 


As much as I like your point, I think it's too optimistic.

Just because you have a higher number doesn't mean you gain for wealth.

The numbers change with inflation...

$3 in the 60's got you 3 12-packs of pop
$6.50 nowadays gets you 7 cans of pop.

Bigger number, less stuff. Therefore, the poor aren't richer.



posted on Apr, 26 2012 @ 06:47 PM
link   
I'll give you a loan! But the same way the central bank does.

I'll give you 100 bucks, with 12.5% interest, of course (due immidiately, compounding daily, penalties apply, still owe me after declaring bankruptcy)

Here's you 100-spot!

Now where's my $168.46?
edit on 26-4-2012 by thegagefather because: misspelling



posted on Apr, 26 2012 @ 06:50 PM
link   

Originally posted by thegagefather
Give me one logical reason that we can't make it fair.
bammy and crew won't let it actually be "fair". To be "fair" everybody would have to pay the same or at least the same flat percentage. bammy will never allow that to happen.



posted on Apr, 26 2012 @ 06:52 PM
link   
reply to post by DarthMuerte
 


So let's prescribe some medicine to Bammy that levels him out. He's obviously too much of a hazard to society to be without it.

And then let's turn our attention to the head of the Rockefeller household. Once that problem is fixed, the Morgan's, Rotheschilds, and etc will follow suit, if they don't want the attention placed on them next.
edit on 26-4-2012 by thegagefather because: (no reason given)




top topics



 
30
<<   2  3  4 >>

log in

join