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Top 400 Earners in U.S Averaged $345 Million in 2007, IRS Say

Discussion in 'Political Discussion' started by reflexblue, Feb 18, 2010.

  1. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    The 400 highest-earning U.S. households reported an average of $345 million in income in 2007, up 31 percent from a year earlier. If this keeps going the USA will resemble Mexico, either your rich or your poor. Canada will have a border problem


    Top 400 Earners in U.S Averaged $345 Million in 2007, IRS Says - Yahoo! News

    The figures for 2007, the last year of an economic expansion, show that the average income reported by the top 400 earners more than doubled from $131.1 million in 2001. That year, Congress adopted tax cuts urged by then-President George W. Bush that Democrats say disproportionately benefits the wealthy.
    Last edited: Feb 18, 2010
  2. DarrylS

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    345 million is a lot of money.. wish they would break it down by occupation.. Wall Street Bankers... Wall Street Bankers.
  3. BSR

    BSR Rookie

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    I would think most are company executives they cashed options. Its not like they get that every year as a paycheck.

    Really, what is the relevance of the top 400 earners in 2007? How is this at all meaningful in any way?
  4. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    Just more class warfare. Not to mention that an average is a REALLY bad statistic when that will include the likes of Bill Gates. I don't care what the top 400 in the country make but the median of them would be more meaningful to me if I did care.
  5. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    If you do not care, why post a comment???
  6. BelichickFan

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    #24 Jersey

    And why post yours, you snarky little nobody.

    If you read and understand you would see that I don't care what the top 400 make but that is different from being interested about the thread enough to post that I don't care about what the top 400 make; posting about the ambivalence towards the rich is perfectly appropriate in this thread.
  7. Real World

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    First off good for them. Second, are they hiring, and if not, do they have any pointers on how I can reach there? Third, what is the point of this thread? Are those people supposed to feel bad or something? Am I supposd to say "$#%^ them!"? Seriously, why the hate? People with large sums of money, will stand to make even larger sums of money, as a matter of simple mathematics. So long as they are making that coin legally, what do I care? Tiger Woods is worth $1 Billion. Tom Brady is worth somewhere inside of 9 figures. Arod will likely be closing in on a billion himself sometime soon. Who cares? I still put my pants on everyday, go to work, and enjoy life. Those people probably pay tens of billions, if not hundreds of billions in taxes (I don't have a calculator right now) anyway.
  8. Holy Diver

    Holy Diver Rookie

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    I can understand 340 Million......but 345 !????


    come on?
  9. Holy Diver

    Holy Diver Rookie

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    If there was actually such a thing as "class warfare" there would be no upper class...

    they dont have the #s
  10. Wolfpack

    Wolfpack Banned

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    There are over 300 million Americans. You have taken roughly the top 1.5% of the top 1% of the top 1%.

    If you want a real snapshot of a nation's strength economocially, don't isolate the top 1.5% of the top 1% of the top 1%. Look at the middle class; i.e. the median and the mean wage earner.

    Then if you are still reminded of Mexico, pass me some of what you're smoking.
  11. Leave No Doubt

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    Last edited: Feb 18, 2010
  12. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    :nono: You don't play well with others sometimes. :nono:
  13. Wolfpack

    Wolfpack Banned

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    You're right. No one ever shows any outrage of cigarettes and smoking. :rolleyes:
  14. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    You don't need anymore drugs, you can't read as it is. I said "If this keeps up" as in it hasn't happened yet. Straighten out and fly right.
  15. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    Really you don't see any problem? Well i'd like to get the same tax breaks these people got, i'm sure you and everybody on this board would too. Me and you have to make up for the tax's they no longer pay.
  16. BelichickFan

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    #24 Jersey

    Indeed, that is correct. I don't deny it :)
  17. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    Me either, so i understand
  18. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    I can't speak to the top 400 or to any actual individuals but the top 1% pay the highest overall tax rate and the pay 40% of the total income tax despite "only" having 23% of the total income.

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

    Whether they should pay more is debatable but the top 1% paying 40% of the income tax is certainly a good amount.
  19. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    I don't feel like coming out to play tonight, i'm not in the mood, so you win. :singing:

    Mean while in a galaxy not so far away i'm sure Wolfie is banging away furiously on his key pad. :rolleyes:
    Last edited: Feb 18, 2010
  20. BelichickFan

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    #24 Jersey

    I'm not sure anyone wins, not that anyone knows how much the rich should pay. I just like to remind people that with the top 1% paying 40% of the income tax that they aren't getting the free ride some claim - even if they have a good argument that they should pay more.
  21. Leave No Doubt

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    Nothing's changed except the price and the location of where people can smoke. And the money continues to flow in. Great example though. :cool:
  22. Real World

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    What tax breaks are you refering too flex? I'm going to guess that someone making $345 million, is paying tens of millions in taxes. Furthermore, I'm pretty sure alot of that money is not income, and thus subject to capital gains taxes, as opposed to the regular income taxes you and I pay.




    This is a fiscal impossibility. It's simple math. I made about $60k last year, or just under. I don't know the exact amount I paid in taxes, but lets assume it was 40% even. That would mean I paid $24k in taxes. John Gotti making that $345 million per, is certainly paying more than $24k to uncle sam. My guess is JG is paying more than $24 million, never mind $24k. So mathematically, there is no way that I'm footing the bill for him.

    Of course, if the gubmit didn't have a spending problem, then all of our taxes would be lower, but I digress....
  23. Real World

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    I just left a night spot down here in Florida, and people were smoking by the bar as they sipped their drinks. It looks like America is still alive in some parts of the country.
  24. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    Was in NOLA last week, smoking all over the place, whether I choose to stay or leave is my choice.. whether you work there or not is their choice... police and other enforcement personnel have enough to do..
  25. Real World

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    I've always felt that it should be left up to the owner of an establishment to decide. If the owner of Bar A wants to be a smokers paradise, he should be able to decide so. If the owner of Bar B wants to be smoke free, then he can decide as much just the same. The way the gubmit forces owners of private businesses to be smoke free at gun point, bothers me. As a patron, or customer, I can freely choose between Bar A, or Bar B. Going to Bar A, or Bar B, and having it the way that I want it, is not a right. Owners rights, and citizens rights (see the seat belt law) get whized on daily, and too few people do anything about it. OF course, when the gubmit does come for someting that they do care about, everyone starts screaming. Well, if people paid more attention to what's going on around them, as opposed to only that which affects them directly, then maybe gubmit would be held in better check. Instead, the gubmit is allowed to restrict certain aspects of society that aren't as popular, which gives it the room to move toward those aspects that are.
  26. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    Lets try a different approach.

    The 400 highest-earning U.S. households reported an average of $345 million in income in 2007, up 31 percent from a year earlier, IRS statistics show.

    The average tax rate for the households fell to the lowest in Twenty years.

    I don't know about you but my salary didn't go up 31% in one year, its gone up about 3% a year. And my tax rate certainly didn't go down to the lowest in Twenty Years.

    When i first read this it pizzed me off, but after thinking about it for awhile i calmed down, i remembered that i live in the top 5% and that thats pretty OK. There are a lot of people a lot that have alot more to b!tch about than me.
    Last edited: Feb 19, 2010

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