Skip to comments.The rich pay majority of U.S. income taxes
Posted on 03/13/2013 6:38:44 PM PDT by PharmboyEdited on 03/14/2013 5:22:08 AM PDT by Admin Moderator. [history]
Put down your pitchforks. The wealthiest 10% pay a big majority of federal income taxes. Pick up your pitchforks. The story is more complicated than that.
Many people think that the rich are able to weasel their way out of taxes, but they actually pay an overwhelming majority of the taxes in the United States. What's more, their share of the tax burden is increasing.
(Excerpt) Read more at money.cnn.com ...
Only in America can the top 10% who pay 70% of all income taxes be accused of not paying their fair share by people who pay nothing....
The chart exposes the current DummyRat lie.
Yes...the chart is quite an eye-opener; and TZ-—you really cannot make this stuff up.
The federal income tax is just another failed government program. Time to get rid of it. No fooling around at the margins either.
Flat tax rate. No deductions. No exemptions.
The “rich” would always pay more, because 10% of 100K is always going to be more than 10% of 10K.
The “poor” would start to learn that votes matter.
And that government does not provide anything for “free”.
But we would all have an equal appreciation of the role of government, and the price we all pay daily for it.
We would all be better off, as individuals.
I’m not rich, not even in the top 10%, but I do OK. I’m filling out my taxes now and I can already see that I am paying a HUGE amount of money to a worthless corrupt government. And despite 0bama’s lies, I am paying A LOT more this year than last year.
The graph I want to see is the one that shows the percentage of total (reported) income that the top 10% earns, compared to their percentage of total income taxes paid each year. Are the “rich” paying more or less tax compered to their income.
Looks like the “rich” are paying less of the burden under Obama than they did under Bush. That might make a liberal’s empty head explode, but it would still be Bush’s fault.
seems fair to me considering most of them didn’t earn that money, stole it thru unfair business practices or taking advantage of employees, are giving massive kickbacks and under the table deals to scum politicians in DC that got us into this mess, and as we saw in 08 will do whatever they need to preserve and increase their wealth at the expense of others (screwing regular joe stockholders/accepting gov. bailouts). So yeah, here is a conservative who says “tax the wealthy”.
And under the hated Bush tax cuts the rich ended up paying a greater percentage of all taxes than before - more than their fair share.........
Sounds to me that you got lost and wandered over here from somewhere else. I’ve never heard anyone who was a conservative sound like a communist. Help me out: do Stalinists have a problem with Leninists, or vice versa? And do Trotskyites hate Marxists?
well, I’ll bet they jump in 2013; 2012 is probably about the same.
You’re not a conservative. Just another class warrior, who thinks anybody who’s ever made money must be a crook.
Yet, few will pay attention to it.
One of the reasons I hoped for Herman Cain’s success was to get away from the demagoguery of the income/payroll tax debate.
The fact is that individual income taxes were not even half the federal taxes collected in 2010.
$898.5 billion collected in individual income taxes
$864.8 billion collected in payroll taxes
$191.4 billion in corporate income taxes
$141 billion in other taxes
$66.9 billion in excise taxes
Already exists, we just call them payroll taxes. For the vast majority that don't make over $100K annually they are flat with no deductions and no exemptions.
Conservatives shouldn't ignore this.
Conservative? I think not!
Just foolin’ around at the margins.
You're not likely to see that comparison in commie literature.
The article, and the vast majority of discussion about taxes, talks only about federal income tax. As if discussing one of many taxes tells us much of anything about the tax burden borne by different income groups.
Such discussions should include payroll taxes, state and local income taxes, property and sales taxes, etc.
When those are all included and broken out by income, then we can at least have an intelligent discussion about whether “the wealthy” are being over or under taxed compared to the less well-off. Not before.
Did you just get out of an OWS 99% education camp? If your name is "Deathtomarxists" I would think you would have killed yourself already.
Just living up to the FR tradition of responding before reading the article.
More than a tradition ~ A WAY OF LIFE!
I think you can't really dig that deep into it. Feds aren't involved in property and sales taxes. Do the Feds still allow deduction of state income tax expense (I live in FL, so it is moot for me)?
I'd really like to see the breakdown of federal tax burden including payroll and income taxes. I'm sure it is still progressive, but the GOP could get at some of that '47%' if they could offer to cut their taxes too, and too many pretend they're not paying any taxes when that isn't true (recall the frustration when payroll taxes went back up at the start of the year?).
Load of crap
I am “wealthy” by Obamas standards. In went to school/training for 11 years AFTER high school. I just worked a 16 hour day yesterday. I work weekends, holidays, nights, kids soccer games, etc all for compensation that is less than some other professionals (who work 8 hour days and no holidays make”. I pay huge taxes and the government is shrinking my compensation daily. I have kids in college with no financial aid not even a tuition write of on taxes because I am wealthy. I have never “ screwed” anyone in my life, but I have hired several and paid them well. In addition I support friends and neighbors in need. I respectfully submit that you can shut up until you know what you are talking about. And in retribution I sincerely wish fit you to pay tax at mt rate for even one year.
Last year I paid over 100,000 in taxes and I make way less than even 1/2 way to 7 figures with income combined with my husbands who also works the same hours. You are an ignorant fool and a menace, and one of the
folks benefiting from the the sweat of my brow if I had to guess. go tax yourself.
Please go eff yourself. You are a true POS.
I'm not rich by any means. I've worked hard my whole life and have been able to make a decent living. While jerks like you might be lounging around, I'm at work. In 2012 I had over $35k withheld fro my pay for Federal income tax. My wife had a slightly smaller amount withheld from hers. Where in the h3ll do you get off thinking that I should pay more? How about you pull your head out of your a$$ for a second so I can put my boot there.