Posted on 12/07/2011 7:16:28 AM PST by thesaleboat
"The richest 1% now pays nearly 40% of all federal income taxes, up from 25% two decades ago, while the bottom 50% of Americans only play 2%, down from 6%."
Without even discussing the affect on job creation, or fairness - a small tax-base is a very unstable tax base as well.
Relying on 1% of people to pay such a large percentage subjects Gov’t revenues to wild swings, based on stock market returns or changes in asset prices.
Moreover, the 1% can simply pack up and leave if they choose - again, not very stable.
Finally, it in facts give the “1%” even more voice in policy and makes the system more corrupt. Being the largest payers, it only makes sense they will increase their lobbying to swing policy their way.
We need a broad and flat tax base, with a low rate.
It would be interesting to see:
1. The breakout of dim-bulbs vs conservatives in the top 1%
2. Of those, another breakout of those who actually earned their monies vs Kennedy felon-son types.
And of course, the stats on our congresscritters - few of whom could profitably run a McDonalds - would also prove very illuminating. Does anyone thing Al Gore would be doing anything other than digging ditches if he wasn’t the (repulsive) spawn of a crooked senator?
yeah, no way he’d ever humble himself enough to earn a living digging ditches, he’d be on welfare for some reason or another
Please...let's see your access to the source.
I have an ongoing cdebate about this statistic and would appreciate a link if you kept it.
Is the dividing line between the 1% and 99% a million dollars a year? If not, what figure is it?
Just trying to figure out where I fit.
Based on 2009 tax year filing data, the Internal Revenue Service says an adjusted gross income, or AGI, of $343,927 or more will put you in the top 1 percent of taxpayers.
Read more: Top 1 Percent: How Much Do They Earn? | Bankrate.com http://www.bankrate.com/finance/taxes/top-1-percent-earn.aspx#ixzz1friPb2Hj
Thanks.
I guess I’m still safe but I’ll keep trying.
Any article that only posts info about income taxes and excludes all the other taxes that people pay is just propaganda. Taxes are taxes. This is bullcrap.
How is this propaganda when the administration wants to raise these taxes on the top 1% and no others?
“How is this propaganda when the administration wants to raise these taxes on the top 1% and no others?”
Just think where we’d be if the 1% said “F*ck Off” and moved to Costa Rica!!
“Sentenced to life imprisonment as a fourth time offender, Sutton was transferred to the Philadelphia County Prison, Holmesburg section of Philadelphia, Pennsylvania. On February 10, 1947, Sutton and other prisoners dressed up as prison guards. The men carried two ladders across the prison yard to the wall after dark. When the prison’s searchlights hit him, Sutton yelled, “It’s okay!” No one stopped him.” -wiki
Lol, thanks for bringing this guy to my attention, but I still don’t understand how my post is propaganda?
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.