$100K-Plus Earners Pay 72% of Federal Income Taxes

[LogikAndReazon]

Coerced financial equality by marxist civil servants is whats needed comrades....lol

 

[edthecynic]

It's not a WEALTH TAX- it's income tax. Pick a meme and go with it bub, you can't have it both ways.....

No shit Sherlock....

Can't touch that wealth, it is off the table. That is why the wealthy minimize what they actually claim as income and funnel compensation to capital gains

That 40% who own 0.2% of our wealth have no such luxury

Actually there are quite a few people in the bottom 40% of the wealth distribution that pay most or all of their taxes through capital gains. Most seniors with investment income are not rich but they draw an income from their nest eggs.

It's not a "luxury," it's a growth strategy geared towards incentivizing investment instead of hoarding. The success of this strategy is up for debate, but not the motivation behind it.

That is pure hogwash! The top 20% of wealth own 90% of all stock which means the bottom 80% have only 10% of the stock and so the bottom 40% have almost nothing in the form of stock.

 

[Missouri_Mike]

OK, then explain why diamonds are so expensive?

The cost of extracting them has increased. It's no different than the price of groceries going up because of fuel prices increasing.

LOL - the cost of picking them up off the ground has increased???

You need to do your research.

You can't possibly believe people are just walking around picking diamonds up off the ground.

Diamonds are expensive because there are only a couple mines with enough diamonds they are worth mining for, with equipment that costs several million to buy and keep operating btw.

 

[JoeB131]

But the Marxists keep saying the rich aren't paying their "fair share."

Taxpayers earning $100,000 or more a year pay 71.6% of the nation’s share in individual federal income taxes, according to the latest data from the Internal Revenue Service (IRS) from 2011.

These data do not include corporate income taxes, or taxes on capital gains or dividends, or payroll taxes for Social Security and other programs.

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Exactly. they don't include taxes that people actually pay.

"Rich people pay most of the taxes designed to get money from rich people. In related news, the Sky is Blue."

 

[auditor0007]

But the Marxists keep saying the rich aren't paying their "fair share."

Taxpayers earning $100,000 or more a year pay 71.6% of the nation’s share in individual federal income taxes, according to the latest data from the Internal Revenue Service (IRS) from 2011.

These data do not include corporate income taxes, or taxes on capital gains or dividends, or payroll taxes for Social Security and other programs.

In 2011, according to the IRS, there were 145,370,240 individual income tax returns filed. Among those returns, 125,914,418 or 86.6%, belonged to taxpayers earning a salary less than $100,000. The remaining 19,455,822 returns belonged to those taxpayers earning more than $100,000, or 13.4% of the total.

While those top earners, earning six figures or more, represented only 13.4% of the total number of individual income tax returns reported to the IRS, they contributed nearly three-fourths of the total amount of federal tax revenue from individual filers reported for that year.

$100K-Plus Earners Pay 72% of Federal Income Taxes | CNS News

I think we should discuss why the lowest income earners pay the highest percentage of payroll, state, and local taxes, while the wealthiest pay the lowest percentages. All you cons ever want to talk about are federal income taxes which only account for about 30% of all US taxes, but you never discuss all the other taxes where lower income earners pay much more as a percentage of income than the wealthy.

So why is it you never bitch about low income earners paying so much more than the wealthy when it comes to payroll, state, and local taxes? Low income earners need a break. The wealthy aren't paying their fair share of these taxes. Maybe we should cut payroll, state, and local taxes for low income earners, and quadruple them for the wealthy to even things up. Then you can have your flat income tax rate for federal income taxes. It would work out the same in the end, but cons just can't comprehend anything beyond 30 second sound bites. Ever wonder why the conservative talking heads never discuss this?

 

[Flopper]

But the Marxists keep saying the rich aren't paying their "fair share."

Taxpayers earning $100,000 or more a year pay 71.6% of the nation’s share in individual federal income taxes, according to the latest data from the Internal Revenue Service (IRS) from 2011.

These data do not include corporate income taxes, or taxes on capital gains or dividends, or payroll taxes for Social Security and other programs.

In 2011, according to the IRS, there were 145,370,240 individual income tax returns filed. Among those returns, 125,914,418 or 86.6%, belonged to taxpayers earning a salary less than $100,000. The remaining 19,455,822 returns belonged to those taxpayers earning more than $100,000, or 13.4% of the total.

While those top earners, earning six figures or more, represented only 13.4% of the total number of individual income tax returns reported to the IRS, they contributed nearly three-fourths of the total amount of federal tax revenue from individual filers reported for that year.

$100K-Plus Earners Pay 72% of Federal Income Taxes | CNS News

$100K a year is not rich

 

[thereisnospoon]

It is an "income" tax

Those who have the most "income" pay the most tax

Yeah..so what the fuck are stupid liberal bitching about?

 

[NYcarbineer]

But the Marxists keep saying the rich aren't paying their "fair share."

So why do you rightwingers howl when I point out that what conservatives really want to do is raise taxes on the poor and lower income Americans?

What conservatives really want is for the government to stop spending more than it takes in. Raising anyone's taxes is not the answer, the problem is not too little revenue, the problem is too much spending.

you libs always try to take this debate into taxes and who should pay more, but thats not really the issue.

The topic of this thread is taxes. You cannot be this ignorant.

 

[thereisnospoon]

I think we (the USA) should cut income tax revenue to the point where we are so fucking broke (as a nation) that no country will lend us money. Just think of the debt we will have with a huge reduction in income to the Treasury.

But us citizens will have more of our money, (if we have a J. O. B.)

Would that be great or what?

That post does not rise to the level of stupid.

 

[francoHFW]

When one group, in this case the richest, triple, quadruple their wealth or more while the rest and the country go to hell, THEY ARE NOT PAYING ENOUGH IN TAXES.

AGAIN, count all taxes, and the bottom fifth pay 16%, and everyone else pays 21%. Count fees, and the nonrich do worse than that...

 

[NYcarbineer]

But the Marxists keep saying the rich aren't paying their "fair share."

So why do you rightwingers howl when I point out that what conservatives really want to do is raise taxes on the poor and lower income Americans?

We want them to pay SOMETHING!!! That way they they have a hand in the game when it comes to the gov pissing away our tax dollars.

So you want, for example, a poor family to pay for their Medicaid?

Now there's the kind of genius that only USMB rightwingers can produce on a regular basis...

 

[asterism]

No shit Sherlock....

Can't touch that wealth, it is off the table. That is why the wealthy minimize what they actually claim as income and funnel compensation to capital gains

That 40% who own 0.2% of our wealth have no such luxury

Actually there are quite a few people in the bottom 40% of the wealth distribution that pay most or all of their taxes through capital gains. Most seniors with investment income are not rich but they draw an income from their nest eggs.

It's not a "luxury," it's a growth strategy geared towards incentivizing investment instead of hoarding. The success of this strategy is up for debate, but not the motivation behind it.

That is pure hogwash! The top 20% of wealth own 90% of all stock which means the bottom 80% have only 10% of the stock and so the bottom 40% have almost nothing in the form of stock.

Stock isn't the only investment, and even if it was your point would not disprove mine.

A retired senior citizen that gets $500 per month from an annuity is not wealthy but the only federal tax he pays is the capital gains tax.

 

[NYcarbineer]

I thought 'trickle down' would have fixed all this by now. 30 years of it.

 

[NYcarbineer]

It is an "income" tax

Those who have the most "income" pay the most tax

Yeah..so what the fuck are stupid liberal bitching about?

The rich took their ever rising 'income' from the not-rich, whose 'income' has languished for decades.

The Rich are paying higher taxes because they're paying the taxes for millions of Americans who would be paying those taxes themselves if their incomes had risen proportionately.

 

[Rozman]

It is an "income" tax

Those who have the most "income" pay the most tax

Then why were the Libs spreading the lie that the wealthy don't pay enough?

 

[francoHFW]

The rich AREN"T paying higher taxes if you count all taxes...what a scam.

 

[asterism]

It is an "income" tax

Those who have the most "income" pay the most tax

Yeah..so what the fuck are stupid liberal bitching about?

The rich took their ever rising 'income' from the not-rich, whose 'income' has languished for decades.

The Rich are paying higher taxes because they're paying the taxes for millions of Americans who would be paying those taxes themselves if their incomes had risen proportionately.

It's amazing how people think that someone earning money for doing the things that makes them money equals other people not earning money for doing the things that don't make them money.

And usually people on the left making this point are those that like to talk about how financially successful they are.

 

[asterism]

The rich AREN"T paying higher taxes if you count all taxes...what a scam.

They are paying a higher share of the total than before, so.....

 

[thereisnospoon]

It is an "income" tax

Those who have the most "income" pay the most tax

True....

But That was not the point of the OP.

The silliness of "pay their fair share" was the point.

Still having trouble engaging in an honest debate I see.

OK, then lets look at the "fair share"

What is the "fair share" of taxes that those 40% of Americans who control 2 TENTHS of a percent of the wealth should pay?

There is no "fair"
There is no "share".
If you don't like the tax code, run for office, get elected and change it.
Make sure you include yourself.

 

[initforme]

Its good to know they are paying. Those in the 1 percent have it made and have zero to comment about. Although they do complain and whine and cry about it. But its ok with them if the working folk who barely make ends meet pay more and make less.