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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 TheCoolKids
reply to post by SaturnFX
Just because you "work hard" does not entitle you to First World middle class status. Success in the economy is on working smart not hard. The average burger flipper is paid more than 99% of people that ever lived, and probably more than a majority of the living population.
There really are not poor people in this country, read the studies of Robert Rector.
Originally posted by buster2010
Why is it when people want to tax the wealth it's class warfare?
Originally posted by CaticusMaximus
Originally posted by neoholographic
The real question should be...
... how 99.999% of US citizens have been duped into paying an unapportioned federal/state income tax (only businesses must pay unapportioned tax), and how we can spread awareness about this about this deceit and reveal its absurdity as nothing more than a tribute to a tyrant who threatens you with theft of property/freedom if you fail to pay that tribute.
Why should the rich pay more taxes? Not a relevant question.
More relevant: Why should ANYONE be paying taxes?
Originally posted by meticulous
The 2012 MAXIMUM taxable earnings for the Social Security caps is $110,100. Any person that makes $110,100 pays in the exact same amount in taxes to Social Security as someone making over $1,000,000+.
Anything made over that first $110,100 is tax free for the rich because the current tax rate does NOT scale along with the higher income because of the cap.
REAL WORLD: Most low to middle income families don’t even clear $110,100 in wages a year. They will end up paying that tax on 100% of their income whereas the people that make over $110,100 scale less and less tax % with the more money they make.
Originally posted by FlyersFan
Why should the rich pay more taxes?
Answer - they shouldn't have to. Not at all.
- EVERYONE should pay the same percentage no matter how much or little they make. That's the only 'fair tax' .. the only way that everyone will be 'paying their fair share'.
- Looting from those who have earned more is nothing more than stealing. It's jealousy in the extreme and, saying that it's okay to rob successful people simply because they are more successful is using excuses for theft because of that jealousy.
- Get spending under control and no one would have to pay nearly as much as they do now in taxes. Reign in government handouts .. entitlements .. union payoffs .. bailouts .. etc etc etc ...
- People deserve to keep what they earn. If they earn more .. it's THEIRS. You have no right to it.
- This 'soak the rich' bull is nothing more than class warfare .. it's looting .. it's stealing ... it's WRONG.
Thats the truth. Something that cheerleaders in class warfare don't like to face.
Originally posted by gostr
I think the question is,
why does the single mother making $26,000 a year have to pay $2,000 dollars in taxes, while the person making $3,000,000.00 only has to pay $2,000 in taxes?
explain that to me and i'll agree the rich shouldnt have to pay more in taxes.
Originally posted by caladonea
"Why should the rich pay more taxes?" Because they are rich and they can afford to.
The love of money, power, and greed are just too prevalent in this world.
I am curious...are you rich?
Originally posted by othello
the only problem i see with the flat rate tax is that the poor and low middle class will feel it more and be affected more than the rich.The flat tax still benifits the rich in my opinion.Example lets make the tax 25% so someone making 30k would pay 7500 and they would feel that where as someone making 500k would pay 125k and not feel it as much plus the fact that there tax rate would have dropped from 36% to 25%.I hope this makes sense
Originally posted by wittgenstein
I have nothing against gambling ( stock market, capital gains) but it should be taxed at at least at the same rate as those that actually work. and create value. The work ethic is better for the country then the gambling ethic.