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New IRS data: Top 1% pays more than bottom 95% <-----MUST READ--very important info

Discussion in 'Political Discussion' started by NEPatriot, Aug 2, 2009.

  1. NEPatriot

    NEPatriot Banned

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    The Tax Foundation - Tax Burden of Top 1% Now Exceeds That of Bottom 95%


    Check out the article. The rich is robbed in this country. What we also learn from this article is it's not entirely true when 'some people' 'claim' that they pay 'income' tax. You know who you are.
    Last edited: Aug 2, 2009
  2. NEPatriot

    NEPatriot Banned

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    Re: New IRS data: Top 1% pays more than bottom 95% <-----MUST READ--very important in

    The Tax Foundation - Summary of Latest Federal Individual Income Tax Data

    This article supports the first article.
    Please stop Obama socialism.
    Last edited: Aug 2, 2009
  3. PressCoverage

    PressCoverage Banned

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    Re: New IRS data: Top 1% pays more than bottom 95% <-----MUST READ--very important in

    You're an idiot.
  4. NEPatriot

    NEPatriot Banned

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    Re: New IRS data: Top 1% pays more than bottom 95% <-----MUST READ--very important in

    What else can you tell me, arshole? You are a moron for beleiving in Obama socialism. You can't dispute what i posted here?????

    Stop spreading your liberal pathetic lies about rich not paying enough for your FREE STUFFS.
    Last edited: Aug 2, 2009
  5. Patriot_in_NY

    Patriot_in_NY Rookie

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    Re: New IRS data: Top 1% pays more than bottom 95% <-----MUST READ--very important in

    Leaving alone the fact that this post is out of bounds......

    Do you disagree with the content of the initial post? That the rich are not taxed disproportionally to everyone else? Just curious.
  6. State

    State Rookie

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    #70 Jersey

    Re: New IRS data: Top 1% pays more than bottom 95% <-----MUST READ--very important in

    http://granitegrok.com/pix/TaxChartQuintiles.jpg

    The bottom 50 percent pay hardly anything but dictate what the rest of us should pay through the legalized theft that most taxation represents.

    I think justice and fairness are being used to create a lack of fairness and justice.

    It also encourages the rich to stop investing, creating jobs, and being as productive as they'd otherwise be. That's dreadful in a free market economy.

    But the left is held hostage by its ideal of equality. Income growth? That was back in the day of JFK's "a rising tide lifts all boats" that one rarely hears a Democrat say nowadays.
  7. PressCoverage

    PressCoverage Banned

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    Re: New IRS data: Top 1% pays more than bottom 95% <-----MUST READ--very important in

    Oh, the woe and suffering of the U.S. rich. Such oppression! Find me a Swiss tax shelter, quick!

    First off, you, of all people here, should probably avoid calling anyone out for "out of bounds" posting perceptions.

    Anyone can play with numbers. Here's another study using IRS data figures that reached a different conclusion:

    The IRS report, which shows the effective federal income tax rates paid by the 400 highest-income Americans in each year since 1992, offers an important opportunity to understand how the tax system affects the most privileged Americans. The table above shows that:

    # Only those with at least $110 million of AGI were members of this group in 2006, and the average AGI for these 400 taxpayers was $263 million.

    # Each one of these 400 taxpayers enjoyed, on average, more than $169 million of net capital gains and dividend income that was subject to special lower tax rates in 2006.

    # Although 400 returns are less than 1/1000th of a percent of the total individual tax returns filed, these 400 taxpayers collected almost 8 percent of the total preferential-rate capital gains and dividends in the nation in 2006.

    # These 400 taxpayers paid income taxes averaging $45 million in 2006. As a share of AGI, their tax bills averaged 17.2 percent.

    # This decline from 22.3 percent to17.2 percent represented a total tax cut of $5.4 billion in 2006 for this group, or an average tax cut of over $13 million each.

    “This valuable data confirms what we already knew—that the very richest Americans are paying much less of their income in tax than many would have us believe,”
    noted Citizens for Tax Justice director Robert S. McIntyre. “These taxpayers are now paying lower effective tax rates than at any time since the IRS began publishing these data in 1992—and the Bush Administration’s capital gains tax cuts are the main culprit.”
    Last edited: Aug 2, 2009
  8. NEPatriot

    NEPatriot Banned

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    Re: New IRS data: Top 1% pays more than bottom 95% <-----MUST READ--very important in

    When you hear liberals telling everybody that they 'pay' taxes, you need to be careful because what they mean is 'sale taxes'.

    Liberals = bunch of FREEBIES. LEECH until they are satisfied.
  9. scott c

    scott c Rookie

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    Re: New IRS data: Top 1% pays more than bottom 95% <-----MUST READ--very important in

    You aren't gone yet???What the fudge....oh well...we all look a lot smarter with you here anyway.:)
  10. Patriot_in_NY

    Patriot_in_NY Rookie

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    Re: New IRS data: Top 1% pays more than bottom 95% <-----MUST READ--very important in

    Your distain for those that reap the rewards of their hard work is well noted. It means nothing, but it is noted :rolleyes:

    Shocking, more hyperbole and meaningless crap drivel without substance from PressCoverage. Didn't see that coming. :singing:

    Nice try, but you didn't answer my very simple question.
    Last edited: Aug 2, 2009
  11. Wildo7

    Wildo7 Totally Full of It

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    Re: New IRS data: Top 1% pays more than bottom 95% <-----MUST READ--very important in

    Not to get too sidetracked here, but is this honestly the perception that the right has of how things work in this country? Do you honestly believe that it's a meritocracy with a meaningful correlation between hard work and reward?

    I've been in prep/private schools most of my life and everyone I know who makes a lot of money in the financial industry was born into a situation where they pretty much cruised into Exeter or Andover, Wharton etc. These people are nowehere close to the hardest working or smartest members of society but rather were simply born into the right circumstances.

    This kind of fairy tale that the rich are harder working is propagated so heavily by the right, and it's one of the reasons why capitalism is a failure. Think of all the millions of brilliant, hard working people that would succeed if given the opportunity and then think of all the dumb, unmotivated rich people that have skated into high paying jobs through nothing more than circumstance. In my experience, and in the experience of several I know in fortune 500 companies, not only is the system of reward within companies not a meritocracy, but it's just an ass-kissing competition where those that play office politics the best are rewarded. Does the right really think that George W. Bush got to where he did through intelligence and hard work? It was decided the moment he was born that he would be a CEO/Politican etc., and he would have had to literally murder someone to screw it up. (same goes for the Kennedy's by the way). I'm willing to bet that at least 50% of the people in positions of power in our society are there solely because of who they were born to and most of the rest because of sheer luck. The right likes to tout the occasional Horatio Alger story as if that's the backbone of our society. It's simply amazing to me that people actually believe this to be the case.

    It seems to me to be common sense that a system based solely on financial reward is going reward those who seek money over accomplishment. It just baffles me that people really think hard core, unregulated capitalism is a smart, efficient way to organize a society.
    Last edited: Aug 2, 2009
  12. tanked_as_usual

    tanked_as_usual Banned

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    Re: New IRS data: Top 1% pays more than bottom 95% <-----MUST READ--very important in

    simple question.........how much of the tax burden should the top 1% be responsible for??? 100%

    bunch of lazy slobs at the bottom of the food chain
  13. Wildo7

    Wildo7 Totally Full of It

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    Re: New IRS data: Top 1% pays more than bottom 95% <-----MUST READ--very important in

    I don't know what it should be, but its not as if a progressive tax removes all of the monetary incentive for those that seek to "rise to the top." If people are choosing careers and making decisions solely on the basis of what will make them money then that seems like a terribly inefficient way to organize a society. The power elites have propagated this idea that being rich is merely a matter of hard work and it's just not true/ They even have right wingers in the middle class that are up in arms over the estate tax, which seems ludicrous to me.

    I've said before that my stance is simply that until we have equality of opportunity in this country we cannot pretend to have a meritocracy.
  14. godef

    godef Rookie

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    Re: New IRS data: Top 1% pays more than bottom 95% <-----MUST READ--very important in

    Could be this record high is due to the getting richer than ever. Filthy rich.
  15. Patriot_in_NY

    Patriot_in_NY Rookie

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    Re: New IRS data: Top 1% pays more than bottom 95% <-----MUST READ--very important in

    The vast proportion of people that "hire" a large amount of the American work force in this country (i.e. small business's of 50 employees or less) are extremely hard working, particularly if they "built" those small companies. These people generally live well and are in the top 5%.

    They're surely are a good percent of the privileged rich from older money that you talk about too, but they vast majority of the higher wage earners are 1) smart, 2) skilled, 3) educated. There is certainly and advantage of being born into privilege, but NOT being born into it is not a barrier to success. Smart, educated and skilled people can make very good money.

    Don't get me wrong, I'm not buying totally into the concept of this thread, but my contention is that the top 5% (most in particular the 2-5% bracket) are fairly hardworking business folks. That is not say there are not a lot of hard-working 6-50% too, or that there are not a lot of cutthroats in that crowd either, but the fact remains, the current trends aim to put a disproportionate tax burden on hardworking higher wage earners, while giving a pass to the rest of the lower working class, many of whom are scamming the system every bit as much as the dishonest rich.

    Rich people drive every economy......... poor people NEVER do.
  16. Fogbuster

    Fogbuster Rookie

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    Re: New IRS data: Top 1% pays more than bottom 95% <-----MUST READ--very important in

    You can't FORCE the rich to do all the heavy lifting. That's already been tried in the Soviet, China, Cuba, North Korea, Zimbabwe, and all other communist regimes in history. Kill all the rich and the entire system is lost. Unless you like living in societies where nothing works, and the people pretend to work because the Party pretends to pay them. Rancid hell.

    The only way to get the more fortunate to contribute is to incentivize the culture so it becomes a win-win situation, where all -- the rich and the poor and all in-between -- feel a sense of value and worth. Human nature wants to excel, people want to be recognized for their accomplishments ..... ask Michael Phelps or Tom Brady or any other serious athlete. Same hold for all walks of life. Killing off the rich is like killing off all the most gifted athletes. Cleo Lemon starting for the Pats, throwing to some guys off the street??

    Excellence deserves its reward, and those at the top need to be recognized for their overall contributions to the whole population, and encouraged to do more, while those at the bottom need to be encouraged to stretch out of the limited box they often make for themselves. Self-respect and dignity are based upon universal law.


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  17. Run DMC

    Run DMC Rookie

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    #24 Jersey

    Re: New IRS data: Top 1% pays more than bottom 95% <-----MUST READ--very important in

    For the 1st time ever, I actually agree with you, Fog.:eek:
    Nice post.
  18. Patters

    Patters Moderator Staff Member PatsFans.com Supporter

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    Re: New IRS data: Top 1% pays more than bottom 95% <-----MUST READ--very important in

    I think the point is rather irrelevant. For whatever reason, we have millions of struggling people in this country. Our choice is to do nothing for them or their kids or to do something. It's a tough choice. The vast majority of poor people are legitimately poor. If we do nothing for them, our taxpayer dollars would instead be used to provide more courts, more police, and more prisons. If we provide them with useful jobs, then we set up competition against the honest hard-working folk and create a downward wage spiral. If we give them just unnecessary jobs, then we need to hire supervisors, buy equipment, etc., which would cost even more than handouts. If we do the right thing, and greatly improve our educational system and jobs training program, it also costs a lot of money. In order to address the reality of our society, we need more money. Our nation is as great as it is because we spend enough to keep it great -- good roads, trusted court system, general respect for the law, good schools, safe medicines, etc.

    In my internship I worked with an Irish guy who was abused so badly as a child that he suffered brain damage. Now, he lives in the public dole and, because of history of violence when confronted, when he leaves his groups home (about 3x/week) he needs to be escorted by someone. It costs a lot of money to care for this guy, but the only alternative is to put him in prison. Where should we get the money from?

    I think disposable income is what should be taxed, and the wealthier you are the larger the percent of disposable income you have. I think there's a fair rationale for this, too. In effect, a progressive system is one that recognizes that the richer you are, the more economic opportunities our system provides you with. The very wealthy, unlike the middle class, have the opportunity to enage in parts of our economy (such as venture capital opportunities, speculation, buy and hold for 25 year+ time frames, etc.) that are pretty much closed off to most people. That said, if a wealthy person doesn't like our tax system, they are free to leave it and live elsewhere, but in the end, I think they feel this country is well worth their investment.

    Or perhaps the righties are advocating cutting taxes on the wealthy and raising them on the middle class. LOL. On the other hand, if they simply think government should be cut, where do they think we can find substantial enough savings to reduce taxes a significant amount? When righties talk about government budget cuts, they usually point to a few billion here are there, not nearly enough to address the terrible suffering of the extremely wealthy.
    Last edited: Aug 3, 2009
  19. PatsWSB47

    PatsWSB47 Rookie

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    #12 Jersey

    Re: New IRS data: Top 1% pays more than bottom 95% <-----MUST READ--very important in

    That Irish guy needs our help. Maybe weed out the millions of welfare cheats and more of these "Irish guys" get helped without cutting budgets or raising taxes.
    Last edited: Aug 3, 2009
  20. Fogbuster

    Fogbuster Rookie

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    Re: New IRS data: Top 1% pays more than bottom 95% <-----MUST READ--very important in



    To know me is to love me, bro. :D



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