Top 20% of households pay vast majority of income taxes

[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

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.

I would do a 1.5% federal consumption tax

 

[AzogtheDefiler]

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

You’re talking to the City of Champions. Please. LOL. NY is a Progressive toilet

 

[Unkotare]

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.

...

Band camp - AGAIN

 

[Unkotare]

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.

Clown

 

[Flash]

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.

Bullshit

Add up all the direct and indirect taxes you pay each year and you will see that it is the largest household expenditures. Be sure to include everything like that telephone tax and property tax for business that you do business with and everything else. Lot of indirect taxes. For instance, you may not directly pay that filthy ass trillion dollar a year corporate tax but when you buy something made by a corporation you are indirectly paying that tax.

Remember that if you are employed not only do you pay 7.5% for Social Security but your employer also has to toss in a like amount.

Remember that when you buy anything that requires transportation you are paying for a portion of the fuel tax. Most states or municipalities adds on a nice little tax whenever you stay at a motel or eat out.

Check out the taxes on your cable bill if you have cable. It all adds up.

The combined cost of Federal, state and local government in this country is almost 40% of the GDP. That is more than the GDP for all but four other countries on earth according to the CIA Fact Book. The Federal tax by itself is more than the GDP of all countries except five others.

 

[sealybobo]

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.

Clown

You had to say this? Loser. Azog is interesting you are not fish

 

[sealybobo]

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.

...

Band camp - AGAIN

Shut up dennis

 

[Hutch Starskey]

The 80% struggle to pay taxes because the 20% dont pay them decent wages.

Many of the 20% are retirees, fool.

LOL
Retiree income tax?

 

[Fort Fun Indiana]

So why are people complaining that we should raise them?

Because of the large disparity in wealth and income. I think you could have puzzled that out, had you tried.

 

[Unkotare]

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.

Clown

You had to say this? Loser. Azog is interesting you are not fish

Say “clown,” and look what comes running...

 

[Hutch Starskey]

Flat tax works

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 as a percentage of their income.

 

[mikegriffith1]

Yup, and yet Democrats still claim that the rich don't pay their fair share. Dems still want to gouge the top 20% for even more money. It's odd that Dems claim to support employees but don't seem to like employers.

 

[Harpy Eagle]

Yup, and yet Democrats still claim that the rich don't pay their fair share. Dems still want to gouge the top 20% for even more money. It's odd that Dems claim to support employees but don't seem to like employers.

You are aware that those of us in the top 20% make more than the other 80% combined.

 

[Hutch Starskey]

Flat tax works

Minimum size of government and minimum taxation works even better.

Not feasible for a country the size of the US but technically yes, that works.

Yes it is feasible to have smaller government.

Not too long ago Ron Paul came up with a budget to reduce the filthy Federal budget by a trillion a year while still maintaining a growth in defense, SS and Medicare.

Just think how much stronger this country would be economically if that trillion was returned to the taxpayers and spent in the productive economy.

We could have a great Federal government doing all the necessary things it should do for a third or fourth of what we spend now.

Just think how much stronger this country would be economically if that trillion was returned to the taxpayers and spent in the productive economy.

Well, per the premise of the thread, that "trillion" would logically go to the top 20% who would not spend it in the economy. Rich folks are already rich. They don't need a tax cut to spend. They can already spend what they wish at anytime.

What we need is higher wages. The govt wouldn't then have to subsidize those folks.

 

[Hutch Starskey]

Yes it is feasible to have smaller government.

Not too long ago Ron Paul came up with a budget to reduce the filthy Federal budget by a trillion a year while still maintaining a growth in defense, SS and Medicare.

Just think how much stronger this country would be economically if that trillion was returned to the taxpayers and spent in the productive economy.

We could have a great Federal government doing all the necessary things it should do for a third or fourth of what we spend now.

By a trillion possibly if we can cut entitlements, which take up what 67% of the budget? Military is another big one. I agree that we should leave many inoucuous issues to the states or make them private. FINRA for example is private. EPA should be privately run IMO.

How would a privately run EPA work?

Do you think that companies going to pay another company to come and fine them for dumping chemicals into the water supply or pumping out toxic gasses? Why would they?

Same way FINRA works. In order to get financing from a bank you have to show you're clean. They'll hire the EPA to prove that. The EPA will want to do a good job because competitors could come in and do a better one. It will fire all the hamster employees and become a lot more efficient. Boeing and Lockheed are private but have many government contracts. The EPA can do the same thing.

Why would a bank care if they are polluting or not?

Boeing and Lockheed do not exist without the government money, neither is self sustaining without defense contracts. Neither are exceptionally efficient, I live near a large Boeing plant and know more than a few of the people there (they do like to hire Vets after all). They really do not need to worry about efficiency as they have a never ending flow of cash coming from the government.

Because pollution can lead to lawsuits and cause the Company to default. Boeing and Lockheed have shareholders to answer to. I want The EPA to have the same thing.

That certainly was not a factor before the EPA.

 

[AzogtheDefiler]

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.

Bullshit

Add up all the direct and indirect taxes you pay each year and you will see that it is the largest household expenditures. Be sure to include everything like that telephone tax and property tax for business that you do business with and everything else. Lot of indirect taxes. For instance, you may not directly pay that filthy ass trillion dollar a year corporate tax but when you buy something made by a corporation you are indirectly paying that tax.

Remember that if you are employed not only do you pay 7.5% for Social Security but your employer also has to toss in a like amount.

Remember that when you buy anything that requires transportation you are paying for a portion of the fuel tax. Most states or municipalities adds on a nice little tax whenever you stay at a motel or eat out.

Check out the taxes on your cable bill if you have cable. It all adds up.

The combined cost of Federal, state and local government in this country is almost 40% of the GDP. That is more than the GDP for all but four other countries on earth according to the CIA Fact Book. The Federal tax by itself is more than the GDP of all countries except five others.

Truth!!! Cell phone bill too

 

[AzogtheDefiler]

So why are people complaining that we should raise them?

Because of the large disparity in wealth and income. I think you could have puzzled that out, had you tried.

They already pay nearly 90%. LOL

 

[AzogtheDefiler]

Flat tax works

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 as a percentage of their income.

Of course. But in absolute $$ it’s the same. I like A consumption tax. Seems most fair.

 

[Hutch Starskey]

Flat tax works

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 as a percentage of their income.

Of course. But in absolute $$ it’s the same. I like A consumption tax. Seems most fair.

It's not the same at all. The idea of not being able to afford gas never enters into the mind of rich folks.

 

[AzogtheDefiler]

Flat tax works

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 as a percentage of their income.

Of course. But in absolute $$ it’s the same. I like A consumption tax. Seems most fair.

It's not the same at all. The idea of not being able to afford gas never enters into the mind of rich folks.

Rich folks already pay the majority of the taxes. They may consume a lot more gas with their high priced cars and boats. They already pay nearly 90% of our taxes so how much more should they pay? 40% of the country pays nothing.