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Originally posted by neoholographic
The real question should be, why don't the middle class and the poor pay less in taxes?
Originally posted by neoholographic
This class warfare nonsense needs to stop.
Originally posted by schuyler
The rich ALREADY pay the taxes. 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. Want to know why you don't have a job? Because the dollar that would have been invested, saved, or spent, all options that put money into the economy, went to the government instead.
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.
Originally posted by sligtlyskeptical
It is because people don't get rich without riding the backs of others. I think profits made on the backs of other people should be taxed higher than profits made through one's own sweat.
Originally posted by neoholographic
The real question should be...
Originally posted by queenofswords
This idea that everybody that is wealthy got there off somebody else's sweat is a liberal myth.
Originally posted by queenofswords
Originally posted by sligtlyskeptical
It is because people don't get rich without riding the backs of others. I think profits made on the backs of other people should be taxed higher than profits made through one's own sweat.
That's a ridiculous statement. There are lots of very wealthy people that did get there by starting a business, working long hours to build it, managing wisely, then growing it smartly, investing their profits, building their portfolio, paying attention, observing and taking advantage of opportunities to sell, re-invest, and/or expand.
This idea that everybody that is wealthy got there off somebody else's sweat is a liberal myth.