ZOT! The 400 Richest Americans Pay An 18% Tax Rate

Forbes ^

[moshiach]

The 400 richest Americans used to pay 30% of their income on the average to Uncle Sam. Today, they pay 18% on the average.

The main reason for the drop in their tax rate of some 40% is the tax cuts by George Bush in 2003, taking the rate paid on dividends and capital gains down to 15%.

[darkangel82]

IATZ times 2.

[Danae]

WOW, u do reel gud fol-o-in dos dem-o-crat talkin pointz. u mak me sooo feel reel gud!

[piytar]

You’re the backbone of this nation.

To these socialist idiots, though, you’re just evil rich.

God, I shouldn’t say this, but I hate them. Not just their leftard stupidity, but them personally because of the misery their perniciousness and stupidty brings to people such as you!

[RedMDer]

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[aruanan]

In 1980, the top 1% of income tax payers accounted for ~19.1% of the total income tax take. The bottom 50% accounted for about 7.1%. So the top 1% paid about 2.7 times that of the bottom 50%.

In 2008, the top 1% of income tax payers accounted for ~38% of the total income tax take. The bottom 50% accounted for about 2.7%. So the top 1% almost doubled its share of the total income tax revenues. The bottom 50% saw their "contributions" decrease to a little more than 1/3 of what it was in 1980.

So, in 1980, the top 1% paid about 2.7 times that paid by the bottom 50%. In 2008, the top 1% paid about 14 times that paid by the bottom 50%.

It's time for the bottom 50% to start getting some skin in the game, to quote Barry, instead of relying on the government to skin and butcher the productive on their behalf.

[aruanan]

The 400 richest Americans used to pay 30% of their income on the average to Uncle Sam. Today, they pay 18% on the average.

The main reason for the drop in their tax rate of some 40% is the tax cuts by George Bush in 2003, taking the rate paid on dividends and capital gains down to 15%.

Actually, the top 0.1 percent paid about 16% of the total income tax revenue in 2001. In 2008, they paid about 18.47% of the total income tax revenue. They saw their share increase over 15% from what it was in 2001. On the other hand, the bottom 50% saw their share decrease from 3.97% to 2.70%, or a decrease of about 32% from what it was in 2001.

The share of the total tax take paid for by the top percentages of tax payers is far more important than the percentage of their income they pay as tax for the simple reason that, say, 10% of a billion dollars is far better for federal revenue than 100% of a million dollars. Low marginal tax rates will drive federal revenue toward the former; high marginal tax rates, toward the latter.

[stephenjohnbanker]

LOL!

[Why So Serious]

With a flat tax and a consumption tax I will not have to live with the fact that 50% pay nothing. People buying cheese popcorn and Grape Nehi soda will pay taxes.

[stephenjohnbanker]

You......you EVILE capitalist you!!!!

[stephenjohnbanker]

” Why is the GOP making the DC an issue when Obama sits in
the Oval Office and not a peep when Ronnie & GWB were sitting there?

This looks awfully funny. “

Hypocrisy?

[stephenjohnbanker]

” Indeed. Why do you think I called it brilliant?

:-D “

Uh....because YOU are??

[stephenjohnbanker]

Obama has deliberately and with malice aforethought bankrupted this country. He knows he must destroy the vast middle class here to take control, and he has accomplished a great deal in a few years. The Republicans had better grow a spine, as this street thug knows most won’t criticize him because of his skin color.

[dixiechick2000]

You aren’t a bad guy.

However, you’re a meal ticket.

Don’t let anything stop you from being a producer.

[Darksheare]

Yikes, a double zot Tuesday!
Haven’t had one of those in awhile!

[Condor51]

*** For those who do not work for a living (but own the majority of the U.S. wealth) they pay 10% of the bills. ***

Why are you picking on Nancy Pelosi and all the Kennedy women?
Do you hate girls or something?
...............

btw, Do you know how many 'poor people' the evil "Bush Tax Cuts" removed from the Tax Rolls and now pay NOTHING?

No? Well, look it up mumbnutz.

[CSM]

I see. So your solution is not to raise the income tax rates, but really want you would want is a wealth tax. Let’s confiscate 100% of all of the savings and investments of all private individuals over $1M. After all, anything more than that is just not fair to those that don’t save...

I bet your buddy Soros would be all for that right?

[Constitutionalist Conservative]

LOL, selectively quoting from FORBES to support Marxist wealth redistribution.

[TheOldLady]

Hat Tip to 50mm

Class-warfare troll from DU joins the other ZOTee on a sizzling ride to the Viking Kitty food bowls resulting in chomping sounds and brief screams




I told you so

[TheOldLady]

Thank you, sweet man. If only that were true.

[stephenjohnbanker]

” on a sizzling ride to the Viking Kitty food bowls ..”

LOL!