America’s wealthiest families smash income ceiling, middle-class left far behind

[Dad2three]

Yes.. and in this case he's claiming to own a holding company that is running the family trust.

IOW... he's claiming income that he's deferring is somehow reducing his "effective" tax rate. My guess is that either his accountant is feeding him a load of bullshit, or he's just goggled up how do rich people shelter income. Either way he's confused.

Yeah, he's full of shit. Either a trust pays the tax, same basic rates, or the trust pays the recipient and the recipient pays the tax, same basic rate. Either way, his single digit claim is BS.

The fortunate 400

400 tax returns reporting the highest incomes in 2009.

Six American families paid no federal income taxes in 2009 while making something on the order of $200 million each.
another 110 families paid 15 percent or less in federal income taxes.
The fortunate 400 David Cay Johnston Reuters

The 400 richest Americans used to pay 30% of their income on the average to Uncle Sam(but 55% in 1955).

Yeah, carried forward losses, capital gains, dividends and muni bonds. So what?

Got it, you didn't REALLY mean this

" Either way, his single digit claim is BS"

He claimed he made millions and his "trust" allowed him to pay low single digits.
He lied. Get it?

Nope, AS I SHOWED, there were 6 families averaging over $200 million EACH who paid zero federal taxes. The top 400 only paid 19% on the $200+ million average. Get it? Your 39% is just BS

 

[Dad2three]

Ronald Reagan calls for an open border with Mexico, 1980

so what???? in 1980 Japan had just begun to import cars and China was communist. Now that liberals have offshored 30 million jobs the situation is a little different.

Isn't thinking fun??

You REALLY should try it Pal, it was conservatives and their "free trade" and tax benefits that shifted jobs off shore!

 

[EdwardBaiamonte]

Yeah, he's full of shit. Either a trust pays the tax, same basic rates, or the trust pays the recipient and the recipient pays the tax, same basic rate. Either way, his single digit claim is BS.

The fortunate 400

400 tax returns reporting the highest incomes in 2009.

Six American families paid no federal income taxes in 2009 while making something on the order of $200 million each.
another 110 families paid 15 percent or less in federal income taxes.
The fortunate 400 David Cay Johnston Reuters

The 400 richest Americans used to pay 30% of their income on the average to Uncle Sam(but 55% in 1955).

Yeah, carried forward losses, capital gains, dividends and muni bonds. So what?

Got it, you didn't REALLY mean this

" Either way, his single digit claim is BS"

He claimed he made millions and his "trust" allowed him to pay low single digits.
He lied. Get it?

Nope, AS I SHOWED, there were 6 families averaging over $200 million EACH who paid zero federal taxes. The top 400 only paid 19% on the $200+ million average. Get it? Your 39% is just BS

the top 1% pay 40% of federal income taxes up from 20% under reagan and they pay 50% of state taxes. This represents redistribution from those who know how to invest money to those who know how to waste it. Bottom 45% pay no income tax

 

[Dad2three]

Mindless, silly class-warfare propaganda.

While you're at it, why not also launch a crusade over the academic performance gap, because the smart, dedicated students continue to vastly outperform the less-dedicated, less intellectually inclined students--and surely that is unfair, somehow.

Or, how about a crusade against the continuously huge gap between talented, dedicated athletes and part-time/less-talented/less-dedicated athletes, not to mention people who wish they did more athletics but just don't find the time to do so?

Let's mandate that no student can earn higher than a B and that no student can be given less than a D, hey?

And, let's declare that no basketball player can score more than 10 points per game, that no baseball player can get more than 1 hit per game, that no sprinter can run faster than 14 seconds per 100 meters, etc.

People have different work ethics, different skills, different levels of dedication and motivation, etc., and to whine about the fact that some people do very well at earning money while others do not is to ignore human nature.

In 1980 the top 1% earned 8.5% of total income. In 2007 they earned 23%.

In 1980 the bottom 90% earned 68% of total income. In 2007 they earned 53%.

Summary of Latest Federal Income Tax Data Tax Foundation

GOV'T POLICY MATTERS !!!

In 1980 the bottom 90% earned 68% of total income. In 2007 they earned 53%.

Let's import millions of low skilled illegals, to make it harder for those on the bottom.

Yeah, since wall street BONUSES in 2013 alone were double the min wage workers entire incomes, it's the low wage workers that are the problem *shaking head*


Ronald Reagan calls for an open border with Mexico, 1980

Yeah, since wall street BONUSES in 2013 alone were double the min wage workers entire incomes,

Yes, skilled workers make more than unskilled workers. Good catch.

Ronald Reagan calls for an open border with Mexico,

Obama agrees with Reagan? LOL!

Yes, took lot's of skills to crash the worlds economy, again, of course like the last 2 times, the y did it with a GOPer in office!

 

[Toddsterpatriot]

Yeah, he's full of shit. Either a trust pays the tax, same basic rates, or the trust pays the recipient and the recipient pays the tax, same basic rate. Either way, his single digit claim is BS.

The fortunate 400

400 tax returns reporting the highest incomes in 2009.

Six American families paid no federal income taxes in 2009 while making something on the order of $200 million each.
another 110 families paid 15 percent or less in federal income taxes.
The fortunate 400 David Cay Johnston Reuters

The 400 richest Americans used to pay 30% of their income on the average to Uncle Sam(but 55% in 1955).

Yeah, carried forward losses, capital gains, dividends and muni bonds. So what?

Got it, you didn't REALLY mean this

" Either way, his single digit claim is BS"

He claimed he made millions and his "trust" allowed him to pay low single digits.
He lied. Get it?

Nope, AS I SHOWED, there were 6 families averaging over $200 million EACH who paid zero federal taxes. The top 400 only paid 19% on the $200+ million average. Get it? Your 39% is just BS

Lots of rich people lost a lot in 2008. Of course their 2009 taxes were lower.
So what?

 

[EdwardBaiamonte]

, it was conservatives and their "free trade" and tax benefits that shifted jobs off shore!

too stupid as always. the highest liberal corporate taxes in the world, liberal labor unions, and liberal deficits shipped 40 million jobs off shore

 

[Dad2three]

Mindless, silly class-warfare propaganda.

While you're at it, why not also launch a crusade over the academic performance gap, because the smart, dedicated students continue to vastly outperform the less-dedicated, less intellectually inclined students--and surely that is unfair, somehow.

Or, how about a crusade against the continuously huge gap between talented, dedicated athletes and part-time/less-talented/less-dedicated athletes, not to mention people who wish they did more athletics but just don't find the time to do so?

Let's mandate that no student can earn higher than a B and that no student can be given less than a D, hey?

And, let's declare that no basketball player can score more than 10 points per game, that no baseball player can get more than 1 hit per game, that no sprinter can run faster than 14 seconds per 100 meters, etc.

People have different work ethics, different skills, different levels of dedication and motivation, etc., and to whine about the fact that some people do very well at earning money while others do not is to ignore human nature.

In 1980 the top 1% earned 8.5% of total income. In 2007 they earned 23%.

In 1980 the bottom 90% earned 68% of total income. In 2007 they earned 53%.

Summary of Latest Federal Income Tax Data Tax Foundation

GOV'T POLICY MATTERS !!!

In 1980 the bottom 90% earned 68% of total income. In 2007 they earned 53%.

Let's import millions of low skilled illegals, to make it harder for those on the bottom.

yes, liberals love to complain about poverty and how capitalism is not working and then they invite 20 million illegals in to keep Americans poor. Liberalism is perfect ignorance.

Ronald Reagan calls for an open border with Mexico, 1980




Let’s add this to some other Reagan quotes :

“I supported this bill. I believe in the idea of amnesty for those who have put down roots and who have lived here even though sometime back they may have entered illegally.”Oct. 21, 1984 debate on immigration bill being considered by Congress


“We have consistently supported a legalization program which is both generous to the alien and fair to the countless thousands of people throughout the world who seek legally to come to America. The legalization provisions in this act will go far to improve the lives of a class of individuals who now must hide in the shadows, without access to many of the benefits of a free and open society. Very soon many of these men and women will be able to step into the sunlight and, ultimately, if they choose, they may become Americans.”
Nov. 6, 1986 signing statement, Immigration Reform and Control Act

He realized his mistake later.

IS THAT THE MYTH BEING CREATED TODAY ABOUT RONNIE? lol

Ronnie:

“We have consistently supported a legalization program which is both generous to the alien and fair to the countless thousands of people throughout the world who seek legally to come to America. The legalization provisions in this act will go far to improve the lives of a class of individuals who now must hide in the shadows, without access to many of the benefits of a free and open society. Very soon many of these men and women will be able to step into the sunlight and, ultimately, if they choose, they may become Americans.”
Nov. 6, 1986 signing statement, Immigration Reform and Control Act

 

[EdwardBaiamonte]

, it was conservatives and their "free trade" and tax benefits that shifted jobs off shore!

too stupid as always. the highest liberal corporate taxes in the world, liberal labor unions, and liberal deficits shipped 40 million jobs off shore

Mindless, silly class-warfare propaganda.

While you're at it, why not also launch a crusade over the academic performance gap, because the smart, dedicated students continue to vastly outperform the less-dedicated, less intellectually inclined students--and surely that is unfair, somehow.

Or, how about a crusade against the continuously huge gap between talented, dedicated athletes and part-time/less-talented/less-dedicated athletes, not to mention people who wish they did more athletics but just don't find the time to do so?

Let's mandate that no student can earn higher than a B and that no student can be given less than a D, hey?

And, let's declare that no basketball player can score more than 10 points per game, that no baseball player can get more than 1 hit per game, that no sprinter can run faster than 14 seconds per 100 meters, etc.

People have different work ethics, different skills, different levels of dedication and motivation, etc., and to whine about the fact that some people do very well at earning money while others do not is to ignore human nature.

In 1980 the top 1% earned 8.5% of total income. In 2007 they earned 23%.

In 1980 the bottom 90% earned 68% of total income. In 2007 they earned 53%.

Summary of Latest Federal Income Tax Data Tax Foundation

GOV'T POLICY MATTERS !!!

In 1980 the bottom 90% earned 68% of total income. In 2007 they earned 53%.

Let's import millions of low skilled illegals, to make it harder for those on the bottom.

Yeah, since wall street BONUSES in 2013 alone were double the min wage workers entire incomes, it's the low wage workers that are the problem *shaking head*


Ronald Reagan calls for an open border with Mexico, 1980

Yeah, since wall street BONUSES in 2013 alone were double the min wage workers entire incomes,

Yes, skilled workers make more than unskilled workers. Good catch.

Ronald Reagan calls for an open border with Mexico,

Obama agrees with Reagan? LOL!

Yes, took lot's of skills to crash the worlds economy, again, of course like the last 2 times, the y did it with a GOPer in office!

any economic crash is caused by liberal intervention. Name one that is not or admit as a typical liberal you lack the IQ to be here??

 

[zeke]

Isn't thinking fun??

How would you know?

 

[Dad2three]

The fortunate 400

400 tax returns reporting the highest incomes in 2009.

Six American families paid no federal income taxes in 2009 while making something on the order of $200 million each.
another 110 families paid 15 percent or less in federal income taxes.
The fortunate 400 David Cay Johnston Reuters

The 400 richest Americans used to pay 30% of their income on the average to Uncle Sam(but 55% in 1955).

Yeah, carried forward losses, capital gains, dividends and muni bonds. So what?

Got it, you didn't REALLY mean this

" Either way, his single digit claim is BS"

He claimed he made millions and his "trust" allowed him to pay low single digits.
He lied. Get it?

Nope, AS I SHOWED, there were 6 families averaging over $200 million EACH who paid zero federal taxes. The top 400 only paid 19% on the $200+ million average. Get it? Your 39% is just BS

the top 1% pay 40% of federal income taxes up from 20% under reagan and they pay 50% of state taxes. This represents redistribution from those who know how to invest money to those who know how to waste it. Bottom 45% pay no income tax

You mean as their tax rates collapsed, their incomes skyrocketed and their effective tax rates on those incomes also plummeted AS the share of fed revenues coming from individual income taxes hit near post WW2 share of fed revenues??

 

[Dad2three]

The fortunate 400

400 tax returns reporting the highest incomes in 2009.

Six American families paid no federal income taxes in 2009 while making something on the order of $200 million each.
another 110 families paid 15 percent or less in federal income taxes.
The fortunate 400 David Cay Johnston Reuters

The 400 richest Americans used to pay 30% of their income on the average to Uncle Sam(but 55% in 1955).

Yeah, carried forward losses, capital gains, dividends and muni bonds. So what?

Got it, you didn't REALLY mean this

" Either way, his single digit claim is BS"

He claimed he made millions and his "trust" allowed him to pay low single digits.
He lied. Get it?

Nope, AS I SHOWED, there were 6 families averaging over $200 million EACH who paid zero federal taxes. The top 400 only paid 19% on the $200+ million average. Get it? Your 39% is just BS

Lots of rich people lost a lot in 2008. Of course their 2009 taxes were lower.
So what?

Got it, you didn't REALLY mean this

" Either way, his single digit claim is BS"

 

[EdwardBaiamonte]

Yeah, carried forward losses, capital gains, dividends and muni bonds. So what?

Got it, you didn't REALLY mean this

" Either way, his single digit claim is BS"

He claimed he made millions and his "trust" allowed him to pay low single digits.
He lied. Get it?

Nope, AS I SHOWED, there were 6 families averaging over $200 million EACH who paid zero federal taxes. The top 400 only paid 19% on the $200+ million average. Get it? Your 39% is just BS

the top 1% pay 40% of federal income taxes up from 20% under reagan and they pay 50% of state taxes. This represents redistribution from those who know how to invest money to those who know how to waste it. Bottom 45% pay no income tax

You mean as their tax rates collapsed, their incomes skyrocketed and their effective tax rates on those incomes also plummeted AS the share of fed revenues coming from individual income taxes hit near post WW2 share of fed revenues??

the top 1% pay 40% of federal income taxes bottom 45% pay nothing

 

[Dad2three]

, it was conservatives and their "free trade" and tax benefits that shifted jobs off shore!

too stupid as always. the highest liberal corporate taxes in the world, liberal labor unions, and liberal deficits shipped 40 million jobs off shore

Sure, only Faux propagandized people or hate talk radio followers believe your nonsense!

 

[Dad2three]

The fortunate 400

400 tax returns reporting the highest incomes in 2009.

Six American families paid no federal income taxes in 2009 while making something on the order of $200 million each.
another 110 families paid 15 percent or less in federal income taxes.
The fortunate 400 David Cay Johnston Reuters

The 400 richest Americans used to pay 30% of their income on the average to Uncle Sam(but 55% in 1955).

Yeah, carried forward losses, capital gains, dividends and muni bonds. So what?

Got it, you didn't REALLY mean this

" Either way, his single digit claim is BS"

He claimed he made millions and his "trust" allowed him to pay low single digits.
He lied. Get it?

Nope, AS I SHOWED, there were 6 families averaging over $200 million EACH who paid zero federal taxes. The top 400 only paid 19% on the $200+ million average. Get it? Your 39% is just BS

Lots of rich people lost a lot in 2008. Of course their 2009 taxes were lower.
So what?

BTW, they averaged over $200+ million PER family in 2009, lol

 

[EdwardBaiamonte]

Sure, only Faux propagandized people or hate talk radio followers believe your nonsense!

too stupid!! so you beleive the higher the corporate tax rate the more corporations are inclined to stay here and pay the tax rather than move. See why we are positive that liberalism is based in pure ignorance?

 

[Dad2three]

, it was conservatives and their "free trade" and tax benefits that shifted jobs off shore!

too stupid as always. the highest liberal corporate taxes in the world, liberal labor unions, and liberal deficits shipped 40 million jobs off shore

In 1980 the top 1% earned 8.5% of total income. In 2007 they earned 23%.

In 1980 the bottom 90% earned 68% of total income. In 2007 they earned 53%.

Summary of Latest Federal Income Tax Data Tax Foundation

GOV'T POLICY MATTERS !!!

In 1980 the bottom 90% earned 68% of total income. In 2007 they earned 53%.

Let's import millions of low skilled illegals, to make it harder for those on the bottom.

Yeah, since wall street BONUSES in 2013 alone were double the min wage workers entire incomes, it's the low wage workers that are the problem *shaking head*


Ronald Reagan calls for an open border with Mexico, 1980

Yeah, since wall street BONUSES in 2013 alone were double the min wage workers entire incomes,

Yes, skilled workers make more than unskilled workers. Good catch.

Ronald Reagan calls for an open border with Mexico,

Obama agrees with Reagan? LOL!

Yes, took lot's of skills to crash the worlds economy, again, of course like the last 2 times, the y did it with a GOPer in office!

any economic crash is caused by liberal intervention. Name one that is not or admit as a typical liberal you lack the IQ to be here??

Sure Pal, sure, NOT the guys in charge in the 1920's (Harding/Coolidge/Hoover) or when Ronnie ignored regulator warnings that started in 1984 ion HIS S&L crisis, or Dubya ignoring regulator warnings AND cheering on the Banksters, it was liberals *shaking head*

 

[EdwardBaiamonte]

Yeah, carried forward losses, capital gains, dividends and muni bonds. So what?

Got it, you didn't REALLY mean this

" Either way, his single digit claim is BS"

He claimed he made millions and his "trust" allowed him to pay low single digits.
He lied. Get it?

Nope, AS I SHOWED, there were 6 families averaging over $200 million EACH who paid zero federal taxes. The top 400 only paid 19% on the $200+ million average. Get it? Your 39% is just BS

Lots of rich people lost a lot in 2008. Of course their 2009 taxes were lower.
So what?

BTW, they averaged over $200+ million PER family in 2009, lol

China is creating new billionaires all the time now too. Under capitalism all incomes turn sharply up!!

 

[Dad2three]

Got it, you didn't REALLY mean this

" Either way, his single digit claim is BS"

He claimed he made millions and his "trust" allowed him to pay low single digits.
He lied. Get it?

Nope, AS I SHOWED, there were 6 families averaging over $200 million EACH who paid zero federal taxes. The top 400 only paid 19% on the $200+ million average. Get it? Your 39% is just BS

the top 1% pay 40% of federal income taxes up from 20% under reagan and they pay 50% of state taxes. This represents redistribution from those who know how to invest money to those who know how to waste it. Bottom 45% pay no income tax

You mean as their tax rates collapsed, their incomes skyrocketed and their effective tax rates on those incomes also plummeted AS the share of fed revenues coming from individual income taxes hit near post WW2 share of fed revenues??

the top 1% pay 40% of federal income taxes bottom 45% pay nothing

Top 1% who TAKE over 20% of ALL US income versus the bottom HALF of US with 11% of the entire pie BUT pay other forms of federals taxes? Horrible

 

[idb]

We

Mindless, silly class-warfare propaganda.

While you're at it, why not also launch a crusade over the academic performance gap, because the smart, dedicated students continue to vastly outperform the less-dedicated, less intellectually inclined students--and surely that is unfair, somehow.

Or, how about a crusade against the continuously huge gap between talented, dedicated athletes and part-time/less-talented/less-dedicated athletes, not to mention people who wish they did more athletics but just don't find the time to do so?

Let's mandate that no student can earn higher than a B and that no student can be given less than a D, hey?

And, let's declare that no basketball player can score more than 10 points per game, that no baseball player can get more than 1 hit per game, that no sprinter can run faster than 14 seconds per 100 meters, etc.

People have different work ethics, different skills, different levels of dedication and motivation, etc., and to whine about the fact that some people do very well at earning money while others do not is to ignore human nature.

In 1980 the top 1% earned 8.5% of total income. In 2007 they earned 23%.

In 1980 the bottom 90% earned 68% of total income. In 2007 they earned 53%.

Summary of Latest Federal Income Tax Data Tax Foundation

GOV'T POLICY MATTERS !!!

In 1980 the bottom 90% earned 68% of total income. In 2007 they earned 53%.

Let's import millions of low skilled illegals, to make it harder for those on the bottom.

Yeah, since wall street BONUSES in 2013 alone were double the min wage workers entire incomes, it's the low wage workers that are the problem *shaking head*


Ronald Reagan calls for an open border with Mexico, 1980

Yeah, since wall street BONUSES in 2013 alone were double the min wage workers entire incomes,

Yes, skilled workers make more than unskilled workers. Good catch.

Ronald Reagan calls for an open border with Mexico,

Obama agrees with Reagan? LOL!

Yes, took lot's of skills to crash the worlds economy, again, of course like the last 2 times, the y did it with a GOPer in office!

Well, I bet you you couldn't it.

 

[EdwardBaiamonte]

, it was conservatives and their "free trade" and tax benefits that shifted jobs off shore!

too stupid as always. the highest liberal corporate taxes in the world, liberal labor unions, and liberal deficits shipped 40 million jobs off shore

In 1980 the bottom 90% earned 68% of total income. In 2007 they earned 53%.

Let's import millions of low skilled illegals, to make it harder for those on the bottom.

Yeah, since wall street BONUSES in 2013 alone were double the min wage workers entire incomes, it's the low wage workers that are the problem *shaking head*


Ronald Reagan calls for an open border with Mexico, 1980

Yeah, since wall street BONUSES in 2013 alone were double the min wage workers entire incomes,

Yes, skilled workers make more than unskilled workers. Good catch.

Ronald Reagan calls for an open border with Mexico,

Obama agrees with Reagan? LOL!

Yes, took lot's of skills to crash the worlds economy, again, of course like the last 2 times, the y did it with a GOPer in office!

any economic crash is caused by liberal intervention. Name one that is not or admit as a typical liberal you lack the IQ to be here??

Sure Pal, sure, NOT the guys in charge in the 1920's (Harding/Coolidge/Hoover) or when Ronnie ignored regulator warnings that started in 1984 ion HIS S&L crisis, or Dubya ignoring regulator warnings AND cheering on the Banksters, it was liberals *shaking head*

any economic crash is caused by liberal intervention. Name just one that is not or admit as a typical liberal you lack the IQ to be here?? HOw will you learn if you are afriad to try????