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Who Pays Taxes?

http://www.youtube.com/watch?v=b1s4QQeyRac

expatriate's picture
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Who Pays Taxes?

Instead of posting a youtube video made by someone with an axe to grind, how about discussing where government tax revenue comes from?

You know...pesky facts like the top 1% of wage earners generating 39% of revenue while the bottom 40 percent pay nothing.

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Who Pays Taxes?

Expat why do you insist on dealing with facts instead of just inserting links to someone elses thoughts? You'll just confuse him you know.

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Who Pays Taxes?

Guess you don't like looking at that kind of stuff do you, what's the matter does it make you wonder for just a second? Whose names are going to come up when they get the names of those 30,000 scofflaws.

Quote:
the bottom 40 percent pay nothing.

Lie

http://gregmankiw.blogspot.com/2008/03/tax-rates-by-income-quintile.html

Now I know you were trying to distort things by leaving off the word "income", and we both know there are many other taxes we pay. I'll make you a deal, make an effort to only post true facts, and I won't call you a liar in public.

pwned

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Who Pays Taxes?
civetcat wrote:
http://gregmankiw.blogspot.com/2008/03/tax-rates-by-income-quintile.html

Lie

Blogs are opinion, not fact.

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Who Pays Taxes?
Quote:
Lie

Blogs are opinion, not fact.

Now I know you're still sore over that train to Vegas thing, but I just hate it when people repeat, what shall we call them, ,,,,untruths?

A blog can contain opinion or facts, just because it's a blog doesn't make it an opinion. Probably if Mankiw doens't distort graphs to make a point. if you don't like my source, do a search yourself. I looked under tax by quintile. I found many more, that graph was the clearest to read, they all say the same thing. so um, prove me wrong.

You must be all het up over all those rich folks evading taxes by hiding money in Swiss accounts at UBS. You know McCains main economic guru worked for them, ex senator Graham.

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Who Pays Taxes?

Lets look into the all knowing, all truthiness wiki, and see what it has to say.....
These numbers are from 2006 tax year which was paid and compiled in 2007.

Hummmmmm, just as I suspected, those darned rich folks still don't pay 100% of the Taxes. Mabe Obama will change all of that.

"......as they shift the incidence disproportionately to those with higher incomes - the top 0.1% of taxpayers by income pay 17.4% of federal income taxes (earning 9.1% of the income), the top 1% with gross income of $328,049 or more pay 36.9% (earning 19%), the top 5% with gross income of $137,056 or more pay 57.1% (earning 33.4%), and the bottom 50% with gross income of $30,122 or less pay 3.3% (earning 13.4%"

http://en.wikipedia.org/wiki/Taxation_in_the_United_States

expatriate's picture
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Who Pays Taxes?

When discussing where the government gets its tax revenue, I trust the IRS. I will admit to being in error, though. As you can see in the tables in the article linked below, the IRS says the top 1% pays 39.89 percent of income taxes -- not 40 percent as I said earlier. And for the sake of clarity, the IRS discusses the bottom 50 percent, not 40 percent, and credits that group with paying 2.99 percent of taxes.

In terms of raw numbers, those 1.35 million people at the top generated 13.5 times more tax revenue than the 67.8 million taxpayers in the bottom half. On a per capita basis, that top 1 percent's share was more than 667 times that of the bottom 50 percent. And yet where do most of the government benefits go? To the bottom.

On Planet Civet, this is clear evidence that the rich are self-centered and not doing their share.

http://www.taxfoundation.org/news/show/250.html

CVC
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Who Pays Taxes?
cowgal wrote:
civetcat wrote:
http://gregmankiw.blogspot.com/2008/03/tax-rates-by-income-quintile.html

Lie

Blogs are opinion, not fact.

Lie

Polls are fact

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Who Pays Taxes?

Ok I"m just going to shout fibber, not liar liar pants on fire.

Quote:
credits that group with paying 2.99 percent of taxes.

The link you provided doesn't say that, says they pay 2.99% of income taxes.

Quote:
those 1.35 million people at the top generated 13.5 times more tax revenue than the 67.8 million taxpayers in the bottom half

Fib. Says that about income taxes, not all taxes..

I can't discuss with you folks until you stop misstating things, (I won't say lying) You all have gotten so used to sloppy thinking that you assume you can just say stuff and it will be accepted as gospel, just like your right wing shouters do all day long when you listen to them.

Remember when McCain had it in the bag by the polls you all listened to on Fox, then the next day he loses by 7%, don't delude yourselves or you'll be sorry again, currently more people self identify as independent than Repub, there's a reason. And a fair portion of it is truthiness.

In fairness JTapia didn't distort once. Used the word "income" before every place it applied. And though Wikipedia should never be the be all end all of references it's certainly less biased than that other link to an org run by Koch Corp and EJ Lilly. Expatriate you say IRS so link there not to thoes nutters.

I started reading JTapia's link and found some jems.

Quote:
The top marginal tax (income) rate was reduced to 58% in 1922, to 25% in 1925, and finally to 24% in 1929.

Hmm... big reductions of top rate just before....

Quote:
marginal tax (income) rates stayed near or above 90% until 1964 when the top marginal tax rate was lowered to 70%. The top marginal tax rate was lowered to 50% in 1982, and eventually to 28% in 1988.

Seems to me the 80's was right about the time all the problems began. Rising income inequality, bubble economies, productivity outstriping pay, and leading to our first financial scandal in the late 80s.

Here's the rub.

Quote:
At first the income tax was incrementally expanded by the Congress of the United States, and then inflation automatically raised most persons into tax brackets formerly reserved for the wealthy until income tax brackets were adjusted for inflation. Income tax now applies to almost two-thirds of the population

So a tax originally designed to tax the more well to do now taxes two thirds of the population.

Income tax is wha't known as a progrssive tax. (I'm speaking here to Jtapia, the rest of you can go fiddle until you use honest quotes) it taxes the rich more heavily, the extremely rich get taxed extemely heavy.

How about if I give you a choice. Would you rather make a thousand million dollars a year, pay big taxes, and keep 500 million, or make whatever it is you make now? Yes the rich are taxed heavily, but they are still ungodly rich, and they've been getting much much richer.

Lets look now at a tax that's lopsided the other way, the one where Warren Buffets secretary pays more than he does.

Quote:
Some lower income individuals pay a proportionately higher share of payroll taxes for Social Security and Medicare than do some higher income individuals in terms of the effective tax rate

Thank you Ronald Reaguns.

And don't fortget.

http://www.gallup.com/poll/111655/Americans-Split-Redistributing-Wealth-...

expatriate's picture
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Who Pays Taxes?

Oh, come on. Are you that desperate for something to counter this? I never claimed it represented ALL tax revenue, and apparently it was stupid of me to think you were smart enough to figure it out because it was an income tax discussion and the article said "INCOME TAX" all over it. Only a complete idiot would think I was talking about something else.

Unlike you, I actually read the links that I post, and unlike you I don't post something and try to claim that it says something it doesn't.

Now if you wanted to expand the discussion to other sources of tax revenue, I'd be willing to argue that one too, because those 1 percenters pay a higher share of those, too.

As for your hypothetical argument, you apparently think it's a fair deal for the government to take half of a rich person's income. That's real easy for someone at the bottom to say. The point is that it shouldn't be a crime to be rich in this country. Besides, with the billion dollar income you proposed, we're talking a delta of roughly $200 million in tax burden. I'd much rather see that $200 million pumped back into the economy via investments that actually generate wealth and jobs versus go to the same organization that runs the post office and Amtrak so badly.

Your posts consistenly reveal that your ideas aren't grounded in generating revenue or growing the economy -- you're centered around using taxes as a way of pounding down a nail that's sticking up above the others.

Let me ask you this. Suppose I took one of the people I saw in Afghanistan raising his family in a cave or mud hut and took him over to your place. He looks at your house, TVs, electricity, computer, phones, cupboard full of food, furniture, cars, etc and concludes that it's just not fair -- so he takes half of everything you own. Are you OK with that? From his perspective, no human being should be that wealthy so he thinks it's fair.

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