Home | Community | Message Board


Marijuana Demystified
Please support our sponsors.

General Interest >> Political Discussion

Welcome to the Shroomery Message Board! You are experiencing a small sample of what the site has to offer. Please login or register to post messages and view our exclusive members-only content. You'll gain access to additional forums, file attachments, board customizations, encrypted private messages, and much more!

Jump to first unread post. Pages: 1
InvisibleGreat_Satan
prophet of God
 User Gallery

Registered: 09/05/04
Posts: 953
Only The Rich Pay Taxes
    #3595234 - 01/07/05 08:55 PM (12 years, 1 month ago)

Only The Rich Pay Taxes

Top 50% of Wage Earners Pay 96.03% of Income Taxes

October 10, 2003

There is new data for 2001. The share of total income taxes paid by the top 1% fell to 33.89% from 37.42% in 2000. This is mainly because their income share (not just wages) fell from 20.81% to 17.53%. However, their average tax rate actually rose slightly from 27.45% to 27.50%.



This proves that it was not the tax cut that caused revenues from the rich to fall, but the recession and the stock market crash. In other words, you live by the sword, you die by the sword. If you are going to benefit from the rich paying more taxes, due to progressivity, on the upside, you are going to lose more revenue from these people on the downside. This is a good argument for reducing progressivity.

Think of it this way: less than four dollars out of every $100 paid in income taxes in the United States is paid by someone in the bottom 50% of wage earners. Are the top half millionaires? Noooo, more like "thousandaires." The top 50% were those individuals or couples filing jointly who earned $26,000 and up in 1999. (The top 1% earned $293,000-plus.) Americans who want to are continuing to improve their lives - and those who don't want to, aren't. Here are the wage earners in each category and the percentages they pay:

Top 5% pay 53.25% of all income taxes (Down from 2000 figure: 56.47%). The top 10% pay 64.89% (Down from 2000 figure: 67.33%). The top 25% pay 82.9% (Down from 2000 figure: 84.01%). The top 50% pay 96.03% (Down from 2000 figure: 96.09%). The bottom 50%? They pay a paltry 3.97% of all income taxes. The top 1% is paying more than ten times the federal income taxes than the bottom 50%! And who earns what? The top 1% earns 17.53 (2000: 20.81%) of all income. The top 5% earns 31.99 (2000: 35.30%). The top 10% earns 43.11% (2000: 46.01%); the top 25% earns 65.23% (2000: 67.15%), and the top 50% earns 86.19% (2000: 87.01%) of all the income.

The Rich Earned Their Dough, They Didn't Inherit It (Except Ted Kennedy)



The bottom 50% is paying a tiny bit of the taxes, so you can't give them much of a tax cut by definition. Yet these are the people to whom the Democrats claim to want to give tax cuts. Remember this the next time you hear the "tax cuts for the rich" business. Understand that the so-called rich are about the only ones paying taxes anymore.

I had a conversation with a woman who identified herself as Misty on Wednesday. She claimed to be an accountant, yet she seemed unaware of the Alternative Minimum Tax, which now ensures that everyone pays some taxes. AP reports that the AMT, "designed in 1969 to ensure 155 wealthy people paid some tax," will hit "about 2.6 million of us this year and 36 million by 2010." That's because the tax isn't indexed for inflation! If your salary today would've made you mega-rich in '69, that's how you're taxed.

Misty tried the old line that all wealth is inherited. Not true. John Weicher, as a senior fellow at the Hudson Institute and a visiting scholar at the Federal Reserve Bank, wrote in his February 13, 1997 Washington Post Op-Ed, "Most of the rich have earned their wealth... Looking at the Fortune 400, quite a few even of the very richest people came from a standing start, while others inherited a small business and turned it into a giant corporation." What's happening here is not that "the rich are getting richer and the poor are getting poorer." The numbers prove it.

I have made an executive decision as the owner and ultimate editor of this website that this table and these numbers stay on this website forever - or until next year's numbers come out. In order to get these facts, you have to see them each and every day. This story, along with a link to the IRS chart, will stay somewhere on the RushLimbaugh.com homepage so everyone can see and find these numbers at any time. It's crucial that people get this, so please, share it with a friend now!



http://www.rushlimbaugh.com/home/menu/top_50__of_wage_earners_pay_96_09__of_income_taxes.guest.html


Edited by Great_Satan (01/07/05 08:57 PM)


Post Extras: Print Post  Remind Me! Notify Moderator
InvisibleGabbaDj
BTH
 User Gallery

Registered: 04/08/01
Posts: 19,456
Loc: By The Lake
Re: Only The Rich Pay Taxes [Re: Great_Satan]
    #3596754 - 01/08/05 02:50 AM (12 years, 1 month ago)

Those numbers seem odd..

Ill have too look at them when Im sober.


--------------------
GabbaDj

FAMM.ORG          C8.com                    http://www.beatsopjefiets.com/   


Post Extras: Print Post  Remind Me! Notify Moderator
Offlinefresh313
journeyman
 User Gallery

Registered: 09/02/03
Posts: 2,537
Last seen: 5 years, 10 months
Re: Only The Rich Pay Taxes [Re: GabbaDj]
    #3596767 - 01/08/05 02:53 AM (12 years, 1 month ago)

its that there are less rich people so of course they pay less % of the total taxes


Post Extras: Print Post  Remind Me! Notify Moderator
InvisibleOJK
Stranger
 User Gallery
Registered: 06/08/03
Posts: 10,629
Re: Only The Rich Pay Taxes [Re: Great_Satan]
    #3597515 - 01/08/05 09:12 AM (12 years, 1 month ago)

The rich pay more taxes than the poor.

Excellent!

What on earth is wrong with that?


Post Extras: Print Post  Remind Me! Notify Moderator
Offlinezahudulallah
Sexual Heretic

Registered: 10/21/04
Posts: 10,579
Loc: Tokyo, Japan
Last seen: 11 years, 9 months
Re: Only The Rich Pay Taxes [Re: OJK]
    #3597531 - 01/08/05 09:31 AM (12 years, 1 month ago)

Quote:

Odiumjunkie said:
The rich pay more taxes than the poor.

Excellent!

What on earth is wrong with that?




:thumbup:


--------------------


Post Extras: Print Post  Remind Me! Notify Moderator
OfflineLightningfractal
Nutcase

Registered: 06/24/03
Posts: 14,899
Loc: Heaven and Hell
Last seen: 4 years, 13 days
Re: Only The Rich Pay Taxes [Re: Great_Satan]
    #3597638 - 01/08/05 10:26 AM (12 years, 1 month ago)

I believe the percentage of tax should be equal. It should be roughly 10% of your income regardless of your income, and if they can't make do on that then they can downsize government.


--------------------
Hi how's it going, wanna kick Heroin basically painlessly on your own, in your own house, without any government "help" ,or the "help" of a crazy condescending, judgmental medical doctor? Read this:

https://www.shroomery.org/forums/showflat.php?Cat=0&Board=42&Number=7342616&page=0&fpart=all



Post Extras: Print Post  Remind Me! Notify Moderator
InvisibleDNKYD
Turtle!

Registered: 09/24/04
Posts: 12,326
Re: Only The Rich Pay Taxes [Re: Lightningfractal]
    #3598098 - 01/08/05 01:37 PM (12 years, 1 month ago)

Quote:

Lightningfractal said:
downsize government.




:thumbup: :thumbup: :thumbup:


Post Extras: Print Post  Remind Me! Notify Moderator
Anonymous

Re: Only The Rich Pay Taxes [Re: Great_Satan]
    #3598302 - 01/08/05 02:24 PM (12 years, 1 month ago)

if the top 50% are paying 96% of all taxes anyway... why not just make it so the bottom 50% don't pay any tax at all?


Post Extras: Print Post  Remind Me! Notify Moderator
Invisiblez@z.com
Libertarian
Registered: 10/13/02
Posts: 2,876
Loc: ATL
Re: Only The Rich Pay Taxes [Re: ]
    #3600034 - 01/08/05 08:41 PM (12 years, 1 month ago)

Quote:

mushmaster said:
if the top 50% are paying 96% of all taxes anyway... why not just make it so the bottom 50% don't pay any tax at all?



If that happened I am willing to bet the tax rates will soar. I mean why not? Politicians can raise taxes and 50% of the population will have absolutely no reason to care.


--------------------
"Of all tyrannies, a tyranny exercised for the good of its victims may be the most oppressive. It may be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end, for they do so with the approval of their own conscience." - C.S. Lewis

"I would rather be exposed to the inconveniencies attending too much liberty than to those attending too small a degree of it." - Thomas Jefferson


Post Extras: Print Post  Remind Me! Notify Moderator
Jump to top. Pages: 1

General Interest >> Political Discussion

Similar ThreadsPosterViewsRepliesLast post
* Bush tax cuts and the USD
( 1 2 all )
phi1618 3,510 23 05/04/08 03:28 PM
by phi1618
* Fair Tax?
( 1 2 3 4 5 6 7 8 all )
SolomonTheShaman 6,287 143 05/01/09 06:56 AM
by Phred
* Bush sneaks through more tax cuts for the rich during war
( 1 2 all )
EchoVortex 2,520 39 03/26/03 11:09 PM
by luvdemshrooms
* help the rich...step on the poor, some more
( 1 2 3 4 5 all )
carbonhoots 3,580 88 01/16/03 08:02 PM
by Xlea321
* Tax Time
( 1 2 all )
snoopaloop53 1,980 31 04/15/05 01:04 PM
by JesusChrist
* Repeal the Grave Robber Tax
( 1 2 all )
z@z.com 1,617 20 04/20/05 07:01 PM
by zappaisgod
* Obama's Income tax plan will save economy. Cannabischarlie 839 19 12/10/08 07:13 PM
by ScavengerType
* Why tax the poorest 50% at all? Baby_Hitler 635 17 01/24/03 02:12 PM
by Anonymous

Extra information
You cannot start new topics / You cannot reply to topics
HTML is disabled / BBCode is enabled
Moderator: Prisoner#1, Enlil
645 topic views. 2 members, 1 guests and 12 web crawlers are browsing this forum.
[ Toggle Favorite | Print Topic | Stats ]
Search this thread:
MRCA Tyroler Gluckspilze
Please support our sponsors.

Copyright 1997-2017 Mind Media. Some rights reserved.

Generated in 0.062 seconds spending 0.003 seconds on 14 queries.