jc456
Diamond Member
- Dec 18, 2013
- 139,218
- 29,148
but the guy making 40,000 gets all of that money back at tax time. oops. so the 40,000 actually pays no payroll tax. He lends it out and gets it back. right? be honest. the 4 million dollar guy is still paying 35% of the 4 million.wrong again as always... From link:Of course and it has gotten worse with trumps tax cut for the rich...You have a link? And who sets the taxes and fees?Really silly stuff, Dupe. If you count all taxes and fees the rich now pay no no more percentage wise than the middle class and the country is going broke.So where was your concern of the children when leftists enacted social security, medicaid and medicare, now debt into the tune of 150 trillion? Much more than the projected cost of global warming...
Trump takes debt because he wants to end all your nonsense. That's a sound investment. If he was a president before all the nonsense was enacted we would have saved trillions and trillions. Since that is no longer possible we will save civilization.
https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.washingtonpost.com/news/wonk/wp/2012/09/19/heres-why-the-47-percent-argument-is-an-abuse-of-tax-data/?utm_term=.96a386f91175&ved=2ahUKEwizu8uimq7bAhUM2IMKHb-yDOIQFjAAegQICBAB&usg=AOvVaw1gq0eZVxZhGWmI-SFSuPBE
Looking at IRS site, which actually works unlike your link, you are spouting complete BS, as usual.
Rich may pay less taxes only to the extent which they have capital gains. But then that money is taxed twice in a row, while salary isn't. Franco is full of deception and lies as always.
Confining the discussion to the federal income tax plays another role, too: It makes the tax code look much more progressive than it actually is.
Take someone who makes $4 million dollars a year and someone who makes $40,000 a year. The person making $4 million dollars, assuming he's not doing some Romney-esque planning, is paying a 35 percent tax on most of that money. The person making $40,000 is probably paying no income tax at all. So that makes the system look really unfair to the rich guy.
That's the basic analysis of the 47 percent line. And it's a basic analysis that serves a purpose: It makes further tax cuts for the rich sound more reasonable.
But what if we did the same thing for the payroll tax? Remember, the payroll tax only applies to first $110,100 or so, our rich friends is only paying payroll taxes on 2.7 percent of his income. The guy making $40,000? He's paying payroll taxes on every dollar of his income. Now who's not getting a fair shake?
Which is why, if you want to understand who's paying what in taxes, you don't want to just look at federal income taxes, or federal payroll taxes, or state sales taxes -- you want to look at total taxes. And, luckily, the tax analysis group Citizens for Tax Justicekeeps those numbers. So here is total taxes -- which includes corporate taxes, income taxes, payroll taxes, state sales taxes, and more -- paid by different income groups and broken into federal and state and local burdens:
That's really what the American tax system looks like: Not 47 percent paying nothing, but everybody paying something, and most Americans paying between 25 percent and 30 percent of their income -- which is, by the way, a lot more the 13.9 percent Mitt Romney paid in 2011*.
When politicians try to convince you that half of Americans aren't really paying taxes, it's usually because the real data undermines their preferred policies. For instance, you wouldn't look at these numbers and think tax cuts for the rich need to be a huge priority. And that's one reason people who want more tax cuts for the rich don't like to show you these numbers.
* Romney's 13.9 percent rate only counts his federal taxes. He hasn't released his state and local returns for 2011, so we can't say how that would change his total tax rate. But given the state and local averages for someone in his income group, it's likely to remain well below the 25-30 percent that is typical.