Posted on 10/18/2017 7:22:47 AM PDT by rktman
Politicians exploit public ignorance. Few areas of public ignorance provide as many opportunities for political demagoguery as taxation. Today some politicians argue that the rich must pay their fair share and label the proposed changes in tax law as tax cuts for the rich. Let’s look at who pays what, with an eye toward attempting to answer this question: Are the rich paying their fair share?
According to the latest IRS data, the payment of income taxes is as follows. The top 1 percent of income earners, those having an adjusted annual gross income of $480,930 or higher, pay about 39 percent of federal income taxes. That means about 892,000 Americans are stuck with paying 39 percent of all federal taxes. The top 10 percent of income earners, those having an adjusted gross income over $138,031, pay about 70.6 percent of federal income taxes. About 1.7 million Americans, less than 1 percent of our population, pay 70.6 percent of federal income taxes. Is that fair, or do you think they should pay more? By the way, earning $500,000 a year doesn’t make one rich. It’s not even yacht money.
(Excerpt) Read more at wnd.com ...
Congress should pass a special ‘Entertainment Tax’ on all sports, especially NFL. Maybe 35% of their per game wages.
THEN apply that to the MSM talking heads.......................
For a Constitutional Representative Republic to function, everyone must have skin in the game. ‘Skin’ that feels the consequences of Legislative actions.
Congress, Congress don’t tax me.
Tax that fellow behind the tree.
The problem has always been on the spending side, not the revue side. And we’re going to keep that up until the collapse.
Never enough. There are in any population a certain number better off than the others. “Rich” is relative. The demand can never be satisfied.
I have a problem with all this rich crap based on income:
Wealth=degree of richness
Income=a way to acquire wealth
The second paragraph is confusing and the numbers do not appear to add up. It would be more effective if it was edited down.
The second sentence says, “The top 10 percent of income earners, those having an adjusted gross income over $138,031, pay about 70.6 percent of federal income taxes. About 1.7 million Americans, less than 1 percent of our population, pay 70.6 percent of federal income taxes.”
I am sure that this is a fact, but there is no clarification following about how it is possible that the top 10 percent of income earners to make up less than 1 percent of the population. It would be much more effective to just say, “Those having an adjusted gross income over $138,031, about 1.7 million Americans, less than 1 percent of our population, pay 70.6 percent of federal income taxes.”
And then he could have followed with, “By the way, earning $138,031 a year doesn’t make one rich. It is barely enough to qualify for a median priced house in many areas of the country. Placing a soul crushing tax burden on the most productive members of society is not fair and is counter-productive.
He could also have left out the sentences about people who make over $480,930 a year.
I make the same mistake constantly... my posts are almost always too wordy because I hate to leave any good point or statistic behind. But it is often much better to keep things shorter and punchier. Give people one good point that they can remember and repeat, not a bunch of confusing numbers that do not seem to add up.
I love Walter Williams.
As long as they are bringing in more cheap labor and sending jobs abroad,and spending our money like they are doing, as long as they refuse to stand for the national anthem and as long as the corporate media smears the rest of us then as far as I am concerned they are not paying enough. I got off of the do not tax the rich mania after the gang of 8 and the total fecklessness of the GOP country club elite to stand up to the other elite in the Democrat party. Tax them I say they are what is wrong with this country.
They never do say what the right number is. What % is the fair share?
Is the tax system just a way to punish people who have been too successful, regardless of how they succeeded, and reward those who have failed, regardless of why they failed?
That was my reaction as well. Your point is much easier to remember and more effective. As you said it should be repeated often.
And if the highest rate for those making more than a million goes up. Then those making $130K can go down.
But if they doubled the tax write off for every employee making more than $50,000 and less than $500,000 then companies would have far more in that group. They should also take away any write-off for salaries over $1 million dollars. That should be considered a dividend.
local dentist bought a boat after retiring....he's retired so he sails up to Alaska and works a few weeks in a clinic....he deducts his boat and expenses off his taxes...
I've heard salesmen can ring up several hundred thousand free airline trips for their "business" travel, which they don't pay a dime for...
TAX THEM.....
until the "rich" pay for their tax free lifestyle, I don't think they pay their "fair " share...
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.