Top 20% of households pay vast majority of income taxes

[OnePercenter]

If your goal is to lower taxes for the rich even more and force those who can't afford it to should more of the burden

Do the rich pay more or less for gas tax?

Much less.

The same. Gas pumps don’t ask for your W2

Most rich/wealthy funnel their income through a corporation so State taxes are fully deductible thus reducing federal tax liability saving on bottom line.

Then why do they bitch when taxes go up on the rich?

When did I ever do that?

 

[skews13]

The top 20% of households paid 88.1% of federal income taxes, and 69.5% of total federal taxes in 2015, ATR notes, citing the most recent numbers provided by the Congressional Budget Office.

The top one percent (around 1.2 million households) paid 39.4% of federal income taxes and 26.2% of total federal taxes, at an average total tax rate of 33.3%, dropping its average income from $1.9 million to $1.2 million. Its total percent of income was 16.6% before taxes and 13.2% after taxes.

A few key numbers from the other four quintiles via the CBO's 2015 report:

• The fourth quintile was taxed at 17.9% federal income tax and saw its average income of $108,000 drop to $91,000. Its share of income was 20% before and after taxes.
• The middle quintile was taxed at 14% federal income tax and saw its average income drop from $71,000 to $65,000. Share of income: 13.6% before taxes, 14.7% after.
• The second quintile paid 9.2% federal income tax but saw its average income of $44,000 increase to $47,000 from means-tested transfers. Share of income: 8.7% before transfers and taxes, 11% after.
• The bottom quintile paid 1.5% federal income tax and saw its average income of $20,000 grow from transfers to $33,000. Share of income: $3.7 before transfers and taxes, 11% after.

So why are we thinking of taxing the rich even more? How about addressing:

-- Entitlements;
-- Illegal Immigration - each illegal costs us ~$77k per year;
-- Fraud in our welfare system ($1.1Trn welfare system)

My solutions would be:

-- Entitlement reform in terms of raising the retirement age and giving people under 30 the option to invest SS monies privately (exiting the Social program). Reform Medicare and Medicaid. Use vouchers perhaps.

-- Get rid of sanctuary cities and enforce deportations.

-- Hire more officers to enforce waste and fraud.

Thoughts....?

You mean the people that own 90% of all of the wealth in the country paid the most in taxes?

Wow.

 

[dblack]

A flat tax will INCREASE you tax liability.

Probably. Fair is fair.

 

[OnePercenter]

Much less.

The same. Gas pumps don’t ask for your W2

Most rich/wealthy funnel their income through a corporation so State taxes are fully deductible thus reducing federal tax liability saving on bottom line.

When you pump gas you pay the same as Jeff Bezos. Yes or no? Or is it cheaper for him?

I don't pump gas, I own a Tesla which is plugged in by the valet.

If your referring the Bezos' Honda, isn't that owned by his holding company? Company credit card?

Does Lebron James pay the same gas tax as his driver?

I'm sure his holding company/trust does.

 

[Fort Fun Indiana]

The top 20% of households paid 88.1% of federal income taxes, and 69.5% of total federal taxes in 2015, ATR notes, citing the most recent numbers provided by the Congressional Budget Office.

The top one percent (around 1.2 million households) paid 39.4% of federal income taxes and 26.2% of total federal taxes, at an average total tax rate of 33.3%, dropping its average income from $1.9 million to $1.2 million. Its total percent of income was 16.6% before taxes and 13.2% after taxes.

A few key numbers from the other four quintiles via the CBO's 2015 report:

• The fourth quintile was taxed at 17.9% federal income tax and saw its average income of $108,000 drop to $91,000. Its share of income was 20% before and after taxes.
• The middle quintile was taxed at 14% federal income tax and saw its average income drop from $71,000 to $65,000. Share of income: 13.6% before taxes, 14.7% after.
• The second quintile paid 9.2% federal income tax but saw its average income of $44,000 increase to $47,000 from means-tested transfers. Share of income: 8.7% before transfers and taxes, 11% after.
• The bottom quintile paid 1.5% federal income tax and saw its average income of $20,000 grow from transfers to $33,000. Share of income: $3.7 before transfers and taxes, 11% after.

So why are we thinking of taxing the rich even more? How about addressing:

-- Entitlements;
-- Illegal Immigration - each illegal costs us ~$77k per year;
-- Fraud in our welfare system ($1.1Trn welfare system)

My solutions would be:

-- Entitlement reform in terms of raising the retirement age and giving people under 30 the option to invest SS monies privately (exiting the Social program). Reform Medicare and Medicaid. Use vouchers perhaps.

-- Get rid of sanctuary cities and enforce deportations.

-- Hire more officers to enforce waste and fraud.

Thoughts....?

That's how progressive taxes work. Please have a seat, you're a few hundred years late to the party.

 

[OnePercenter]

So you're going to trade a 12% tax for a 15-20% flat tax?

If we removed all the bullshit deduction and loopholes, I'd vote for that in a heartbeat.

That's not going to happen, nor is a flat tax. The best thing for working class Americans is a large wage increase.

LOL... yeah. Let's just double everyone's income. Problem solved!

Let's limit business deductions to employee expenses. Raises and benefits for workers!

You are an ignoramous. Is the gas tax a flat tax. Yes or no?

Absurd post.

 

[OnePercenter]

Or you can limit investor returns to 10% of net profit and raise the federal minimum wage to $15.00/hr.

Better yet keep the filthy ass government out of controlling our lives by restricting anything.

I don't need the fucking government telling me how much money I can make or telling my employer how much they have to pay me.

Unless your pay rate is at or more than $50K per year, you're an indentured slave.

The cost of government is usually the largest yearly expenditure of any family, regardless of income. Even if you don't pay income tax the other direct and indirect taxes are oppressive.

We are all slaves to this bloated out of control debt ridden oppressive government.

The largest yearly expense of the typical American is housing.

No, you are wrong.

The total cost of combined government (both direct and indirect) is the largest expenditure of most American families.

This includes everything from the consumer portion of the corporate tax to the fuel tax to SS to the flow down of state and local taxes to the income tax.

The cost of combined government in this country is an appalling 40% of the GDP and we all have a bite of that shit sandwich. That burden is killing us. We could be so much more prosperous with a reduced burden.

Bullshit. Mortgage/rent and utilities are much more than taxes.

 

[OnePercenter]

So you're going to trade a 12% tax for a 15-20% flat tax?

If we removed all the bullshit deduction and loopholes, I'd vote for that in a heartbeat.

That's not going to happen, nor is a flat tax.

Probably not. Lot's of really stupid people vote. But it would be the best thing, for the working class, for all of us.

A flat tax will INCREASE you tax liability.

I am OK with that

You're an idiot.

 

[AzogtheDefiler]

If we removed all the bullshit deduction and loopholes, I'd vote for that in a heartbeat.

That's not going to happen, nor is a flat tax.

Probably not. Lot's of really stupid people vote. But it would be the best thing, for the working class, for all of us.

A flat tax will INCREASE you tax liability.

I am OK with that

You're an idiot.

Opinions vary.

 

[dblack]

If we removed all the bullshit deduction and loopholes, I'd vote for that in a heartbeat.

That's not going to happen, nor is a flat tax.

Probably not. Lot's of really stupid people vote. But it would be the best thing, for the working class, for all of us.

A flat tax will INCREASE you tax liability.

I am OK with that

You're an idiot.

Being ok with paying their share makes someone an idiot?

 

[AzogtheDefiler]

The top 20% of households paid 88.1% of federal income taxes, and 69.5% of total federal taxes in 2015, ATR notes, citing the most recent numbers provided by the Congressional Budget Office.

The top one percent (around 1.2 million households) paid 39.4% of federal income taxes and 26.2% of total federal taxes, at an average total tax rate of 33.3%, dropping its average income from $1.9 million to $1.2 million. Its total percent of income was 16.6% before taxes and 13.2% after taxes.

A few key numbers from the other four quintiles via the CBO's 2015 report:

• The fourth quintile was taxed at 17.9% federal income tax and saw its average income of $108,000 drop to $91,000. Its share of income was 20% before and after taxes.
• The middle quintile was taxed at 14% federal income tax and saw its average income drop from $71,000 to $65,000. Share of income: 13.6% before taxes, 14.7% after.
• The second quintile paid 9.2% federal income tax but saw its average income of $44,000 increase to $47,000 from means-tested transfers. Share of income: 8.7% before transfers and taxes, 11% after.
• The bottom quintile paid 1.5% federal income tax and saw its average income of $20,000 grow from transfers to $33,000. Share of income: $3.7 before transfers and taxes, 11% after.

So why are we thinking of taxing the rich even more? How about addressing:

-- Entitlements;
-- Illegal Immigration - each illegal costs us ~$77k per year;
-- Fraud in our welfare system ($1.1Trn welfare system)

My solutions would be:

-- Entitlement reform in terms of raising the retirement age and giving people under 30 the option to invest SS monies privately (exiting the Social program). Reform Medicare and Medicaid. Use vouchers perhaps.

-- Get rid of sanctuary cities and enforce deportations.

-- Hire more officers to enforce waste and fraud.

Thoughts....?

That's how progressive taxes work. Please have a seat, you're a few hundred years late to the party.

So why are people complaining that we should raise them? You completely misread the intent of the post. Maybe learn to read and opine again

 

[OnePercenter]

A flat tax will INCREASE you tax liability.

Probably. Fair is fair.

Idiot.

 

[OnePercenter]

That's not going to happen, nor is a flat tax.

Probably not. Lot's of really stupid people vote. But it would be the best thing, for the working class, for all of us.

A flat tax will INCREASE you tax liability.

I am OK with that

You're an idiot.

Opinions vary.

Your incredibly stupid or a Russian troll.

 

[sealybobo]

The top 20% of households paid 88.1% of federal income taxes, and 69.5% of total federal taxes in 2015, ATR notes, citing the most recent numbers provided by the Congressional Budget Office.

The top one percent (around 1.2 million households) paid 39.4% of federal income taxes and 26.2% of total federal taxes, at an average total tax rate of 33.3%, dropping its average income from $1.9 million to $1.2 million. Its total percent of income was 16.6% before taxes and 13.2% after taxes.

A few key numbers from the other four quintiles via the CBO's 2015 report:

• The fourth quintile was taxed at 17.9% federal income tax and saw its average income of $108,000 drop to $91,000. Its share of income was 20% before and after taxes.
• The middle quintile was taxed at 14% federal income tax and saw its average income drop from $71,000 to $65,000. Share of income: 13.6% before taxes, 14.7% after.
• The second quintile paid 9.2% federal income tax but saw its average income of $44,000 increase to $47,000 from means-tested transfers. Share of income: 8.7% before transfers and taxes, 11% after.
• The bottom quintile paid 1.5% federal income tax and saw its average income of $20,000 grow from transfers to $33,000. Share of income: $3.7 before transfers and taxes, 11% after.

So why are we thinking of taxing the rich even more? How about addressing:

-- Entitlements;
-- Illegal Immigration - each illegal costs us ~$77k per year;
-- Fraud in our welfare system ($1.1Trn welfare system)

My solutions would be:

-- Entitlement reform in terms of raising the retirement age and giving people under 30 the option to invest SS monies privately (exiting the Social program). Reform Medicare and Medicaid. Use vouchers perhaps.

-- Get rid of sanctuary cities and enforce deportations.

-- Hire more officers to enforce waste and fraud.

Thoughts....?

Who would you rather be the top 20% paying most of the taxes or the bottom 80%? And are you suggesting 80% of voters need to pay more taxes?

 

[AzogtheDefiler]

Probably not. Lot's of really stupid people vote. But it would be the best thing, for the working class, for all of us.

A flat tax will INCREASE you tax liability.

I am OK with that

You're an idiot.

Opinions vary.

Your incredibly stupid or a Russian troll.

As Hominems lol

Keyboard Warrior 101. Come to Boston and call me stupid to my face and see what happens.

 

[AzogtheDefiler]

The top 20% of households paid 88.1% of federal income taxes, and 69.5% of total federal taxes in 2015, ATR notes, citing the most recent numbers provided by the Congressional Budget Office.

The top one percent (around 1.2 million households) paid 39.4% of federal income taxes and 26.2% of total federal taxes, at an average total tax rate of 33.3%, dropping its average income from $1.9 million to $1.2 million. Its total percent of income was 16.6% before taxes and 13.2% after taxes.

A few key numbers from the other four quintiles via the CBO's 2015 report:

• The fourth quintile was taxed at 17.9% federal income tax and saw its average income of $108,000 drop to $91,000. Its share of income was 20% before and after taxes.
• The middle quintile was taxed at 14% federal income tax and saw its average income drop from $71,000 to $65,000. Share of income: 13.6% before taxes, 14.7% after.
• The second quintile paid 9.2% federal income tax but saw its average income of $44,000 increase to $47,000 from means-tested transfers. Share of income: 8.7% before transfers and taxes, 11% after.
• The bottom quintile paid 1.5% federal income tax and saw its average income of $20,000 grow from transfers to $33,000. Share of income: $3.7 before transfers and taxes, 11% after.

So why are we thinking of taxing the rich even more? How about addressing:

-- Entitlements;
-- Illegal Immigration - each illegal costs us ~$77k per year;
-- Fraud in our welfare system ($1.1Trn welfare system)

My solutions would be:

-- Entitlement reform in terms of raising the retirement age and giving people under 30 the option to invest SS monies privately (exiting the Social program). Reform Medicare and Medicaid. Use vouchers perhaps.

-- Get rid of sanctuary cities and enforce deportations.

-- Hire more officers to enforce waste and fraud.

Thoughts....?

Who would you rather be the top 20% paying most of the taxes or the bottom 80%? And are you suggesting 80% of voters need to pay more taxes?

I am Suggesting the rich pay their fare share already so there is no need to raise taxes on them

 

[sealybobo]

The top 20% of households paid 88.1% of federal income taxes, and 69.5% of total federal taxes in 2015, ATR notes, citing the most recent numbers provided by the Congressional Budget Office.

The top one percent (around 1.2 million households) paid 39.4% of federal income taxes and 26.2% of total federal taxes, at an average total tax rate of 33.3%, dropping its average income from $1.9 million to $1.2 million. Its total percent of income was 16.6% before taxes and 13.2% after taxes.

A few key numbers from the other four quintiles via the CBO's 2015 report:

• The fourth quintile was taxed at 17.9% federal income tax and saw its average income of $108,000 drop to $91,000. Its share of income was 20% before and after taxes.
• The middle quintile was taxed at 14% federal income tax and saw its average income drop from $71,000 to $65,000. Share of income: 13.6% before taxes, 14.7% after.
• The second quintile paid 9.2% federal income tax but saw its average income of $44,000 increase to $47,000 from means-tested transfers. Share of income: 8.7% before transfers and taxes, 11% after.
• The bottom quintile paid 1.5% federal income tax and saw its average income of $20,000 grow from transfers to $33,000. Share of income: $3.7 before transfers and taxes, 11% after.

So why are we thinking of taxing the rich even more? How about addressing:

-- Entitlements;
-- Illegal Immigration - each illegal costs us ~$77k per year;
-- Fraud in our welfare system ($1.1Trn welfare system)

My solutions would be:

-- Entitlement reform in terms of raising the retirement age and giving people under 30 the option to invest SS monies privately (exiting the Social program). Reform Medicare and Medicaid. Use vouchers perhaps.

-- Get rid of sanctuary cities and enforce deportations.

-- Hire more officers to enforce waste and fraud.

Thoughts....?

Who would you rather be the top 20% paying most of the taxes or the bottom 80%? And are you suggesting 80% of voters need to pay more taxes?

I am Suggesting the rich pay their fare share already so there is no need to raise taxes on them

Soon infrastructure is going to require a tax increase. So if you were a politician, you would raise taxes on all 100% equally, not a heavier tax on the rich. A flat tax.

This is another way the rich have widened the gap between the rich and rest of us.

 

[Lesh]

Who would you rather be the top 20% paying most of the taxes or the bottom 80%? And are you suggesting 80% of voters need to pay more taxes?

They are indeed...how else can they lower taxes on the rich

Keyboard Warrior 101. Come to Boston and call me stupid to my face and see what happens.

Uuuuu an internet tough guy...from Bawstin yet

BWAHAHAHA

 

[sealybobo]

A flat tax will INCREASE you tax liability.

I am OK with that

You're an idiot.

Opinions vary.

Your incredibly stupid or a Russian troll.

As Hominems lol

Keyboard Warrior 101. Come to Boston and call me stupid to my face and see what happens.

I was in LA and I didn’t let this street hustler hustle me he said “you better watch how you talk to people here you’re not in Kansas anymore mother fucker” and I quickly replied Bitch I’m from Detroit! And he backed down.

Boston is full of guys who wish they were New Yorkers

 

[dblack]

A flat tax will INCREASE you tax liability.

Probably. Fair is fair.

Idiot.

Heh. Ok, I'll bite. Why?