Skip to comments.The rich do not pay the most taxes, they pay ALL the taxes
Posted on 12/13/2013 8:45:45 AM PST by Brown Deer
CNBC's Jane Wells reads the fine print of the Congressional Budget Office report and reveals the CBO broke the country into five tiers of wage earners. The top 20 percent pay nearly 93 percent of all income taxes, according to the report. At the same time, their incomes are growing far faster than everyone else.
(Excerpt) Read more at cnbc.com ...
Whew! Guess I’m off the hook now.
Is this “ALL taxes” or just income taxes? The phrasing jumps back and forth...
Actually, you pay the tax when you buy the milk at the store.
Waddabout the income (inequality) gap?
Melissa Harris Perry says its our #1 concern, after racism, sexism, homophobia of course, OK so many its # 4 but that’s still high.
I enjoyed Megyn Kelly making fun of Melissa. that was a bonus.
I wish I were paying all those taxes.
I’m poor. I could be rich except for all the taxes I pay/
Elizabeth warren is still waiting on These people to pay their ‘fair share’
I say we all pay income taxes, whether we have a bill with our name on it or not. Taxes of all kind are embedded in the retail price of EVERY good and service consumed. Taxes hurt those most who cannot pass it along to customers in the cost of their products. That would be the salaried, wage earners, and those who receive taxable government benefits who also show enought taxable income to owe income taxes. Taxes levied by any level of government, regardless of the type of tax, costs EVERYBODY something. And deficit spending is eventually a hidden tax on us all, too.
“Buried inside a Congressional Budget Office report this week was this nugget: when it comes to individual income taxes, the top 40 percent of wage earners in America pay 106 percent of the taxes. The bottom 40 percent...pay negative 9 percent.”
From each according to his ability, to each according to his need.
While the “rich” do pay nearly all income taxes, the poor do get hit with major taxes as well. About 1/2 of all taxes gathered are in the form of income taxes but that other half are sales taxes, use taxes, payroll taxes, and fees. Everyone pays those. If I were poor I think I’d be concerned about all those taxes.
Well they need to reimburse me for a few hundred thousand then...
Yes! I need to change my withholding to zero and make plans for the huge refund coming in April!
The income tax is only there to prevent the middle-classes from accumulating wealth and posing a threat to the PTB.
Odd timeframe. Also the years of globalization and the age of salary deflation. The 'middle' class took a hit in the same period.
We have also run up the national debt and increased the budget dramatically within the same years.
Taxes are part of the cost of doing business. It gets rolled into the price of whatever product is the source of their wealth.
You pay the tax. You may or may not realize it, but you pay it. The rich collect the taxes. The customer pays the taxes.
And of course, nobody asks why. It's because Obama has destroyed the middle-class. Those with money are able to sustain themselves without government help. And now they're blamed for that too.
Quick, let's destroy them too.
Wow! You mean that I and my wife just imagined all that money we see that we pay in every year? Do they mean that the bank is cheating us and stealing that money that we’re told goes to pay our taxes?
I want all that money back!
It seems that a large part of the truly rich these days are democrat supporters or sympathizers who are out to make sure that they and their money is not affected while supporting those programs that will throw the middle class to the wolves.
Income taxes. However, I would like to see the numbers run to include payroll taxes. I bet for the lower end of the income scale tax credits offset payroll taxes paid.