"Still not enough. Heck, if they paid twice that, we'd be in much better shape!"
Posted on 12/10/2013 3:58:50 PM PST by whitedog57
According to the Congressional Budget Office, the top 40% of Americans paid 106.2% of income taxes.
How can the top 40% pay MORE than 100% of income taxes? Simple. The bottom 40% of Americans paid -9.1% of income taxes. And they received an average of $18,950 in government transfers.
Of course, we know that real median household income has been falling generally since 2000 and especially since 2007. And house prices have been falling, but house prices have changed course and have been rising since 2012.
csrealinc
Seriously, how can the US have a dynamic housing market with such a lopsided economic structure?
Well, at least you know why the US has such a high rental rate. And growing!
EVERYONE NEEDS to PAY TAXES....even if it’s $100.00....and NEVER GIVE MORE MONEY BACK THAN WHAT THEY PAID!!!!
Still trying to understand how they paid 106% of the taxes.
Why can’t you post the graphics?
They paid 106% of revenue received by the Treasury. The Treasury got exactly 100%. Part of the discrepancy is that many folks take money out of the Treasury by paying a negative amount of income tax. That is, they take out more than they put in.
If the government spends more than it taxes, then taxpayers pay more than they are taxed.
Shortly after Jan 1, head on down to your local “hood” (properly armed of course).
You will instantly notice that nearly every street corner will sprout a “fast tax” office.
This is where the folks stop in to collect their EIC.
And THAT is how the bottom 40% pay negative income tax.
Net tax revenues!!!
Soon only the poor will be paying taxes.
....because there will be no more rich.
The low information voters will blame the rich for their own lack of success. The progressive agenda has warped enough minds that it will be dangerous to be “rich” when the masses demand bread. We are following the camouflaged brand of socialism that leads to totalitarian government with the accompanying theft of property and denial of rights.
Totalitarians love to convince the ignorant masses that their problems were created by the rich or some other group such as the tea party or ethnic groups such as whites or Jews.
Our government already picks winners and losers and steals from one to benefit another. Our government uses the law and taxes to punish its enemies and help its friends. Those in power grow their personal wealth as they twist government to their own benefit.
Sound familiar?
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