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As the rich get richer
The more taxes they pay.
Sorry that this is from the Heritage Foundation, but I've read enough from TruthOut and the Daily Kos to get a pass.
The Top 10 Percent of Earners Paid 70 Percent of Federal Income Taxes
http://www.heritage.org/budgetchartb...income-earners
Notice how the bottom 50% has paid less over time, while the top earners show increases. And Obama is walking around talking about "fairness".
Keep in mind, this is only about income taxes. Lower wage earners do pay state taxes, SS taxes, sales tax, gas taxes, property taxes, city taxes, county taxes.... Well, here are many of the taxes lower wage earners pay.
Accounts Receivable Tax
Building Permit Tax
Capital Gains Tax
CDL license Tax
Cigarette Tax
Corporate Income Tax
Court Fines (indirect taxes)
Dog License Tax
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel permit tax
Gasoline Tax (42 cents per gallon)
Hunting License Tax
Inheritance Tax Interest expense (tax on the money)
Inventory tax IRS Interest Charges (tax on top of tax)
IRS Penalties (tax on top of tax)
Liquor Tax
Local Income Tax
Luxury Taxes
Marriage License Tax
Medicare Tax
Property Tax
Real Estate Tax
Septic Permit Tax
Service Charge Taxes
Social Security Tax
Road Usage Taxes (Truckers)
Sales Taxes
Recreational Vehicle Tax
Road Toll Booth Taxes
School Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone federal excise tax
Telephone federal universal service fee tax
Telephone federal, state and local surcharge taxes
Telephone minimum usage surcharge tax
Telephone recurring and non-recurring charges tax
Telephone state and local tax
Telephone usage charge tax
Toll Bridge Taxes
Toll Tunnel Taxes
Traffic Fines (indirect taxation)
Trailer registration tax
Utility Taxes
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft registration Tax
Well Permit Tax
Workers Compensation Tax
http://www.goodcitizen.org/wwla%20bo...es%20email.htm
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April 8, 2009, 9:14 pm
How Much Americans Actually Pay in Taxes
By CATHERINE RAMPELL
Here's one from a less partisan source. A little dated, but....
Much has been written about President Obama’s plans to change Americans’ tax rates (changes that include raising rates for the wealthiest Americans, and cutting rates for everyone else). But there is often confusion about the fact that the rates being discussed are the marginal tax rates —that is, the rates for income above a certain level.
Fortunately, the Congressional Budget Office recently released updated data on effective average federal tax rates — that is, the percentage of their entire incomes that Americans hand over to the federal government in the form of personal income, social insurance, corporate income and excise taxes. As this is effective tax data, it also takes into account the fact that many Americans use deductions that make their taxes lower than statutory rates would imply.
The main findings: The overall effective federal tax rate (the ratio of federal taxes to household income) was 20.7 percent in 2006 with the highest quintile of American households paying 25.8 percent of their income in federal taxes.
Because higher-income groups earn a disproportionate share of pretax income and because tax rates rise with income, higher-income groups also pay a disproportionate share of federal taxes. In 2006, the top quintile of households earned 55.7 percent of pretax income and paid 69.3 percent of federal taxes, while the top 1 percent of households earned 18.8 percent of income and paid 28.3 percent of taxes.Effective tax rates haven’t changed much in the last few years, but they have bounced around some over the last three decades. The top 1 percent of American households have seen the most range.
The top 1 percent of American households have experienced the greatest growth in after-tax incomes, too.
If you’re interested in how these figures compare to what residents of other nations are experiencing, you can find some relevant (and updated!) data from the Organization for Economic Cooperation and Development here. The O.E.C.D. data on tax rates are measured slightly differently, though.
Here's the article.
http://economix.blogs.nytimes.com/20...-pay-in-taxes/
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OF COURSE ITS FROM THE HERITAGE FOUNDATION. I predicted it. You always reach
for right wing sources. Thanks for proving me correct.
KRUGMAN: Of Course The Rich Are Paying More Taxes—THEY'RE 5 TIMES AS RICH AS THEY
USED TO BE.
Henry Blodget | Sep. 23, 2011, 6:50 AM | 3,165 | 50
Paul Krugman brings out the statistical bazooka against the "class warfare" meme.
Among the points and statistics he cites in a new column:
From 1979-2005, the average real income of families in the "middle" rose 21%
Over the same period, the average real income of the richest 100th of one percent rose 480%, from $4 million to $24 million.
So it's no wonder that "rich people" are paying a greater share of overall taxes than they used to--because they're much richer than they used to be!
Over the past 25 years, the country's tax burden has shifted "from wealth to work," meaning that the country places a higher tax on income from working than investments. This is due to both lower taxes on capital gains and dividends and the payroll tax, which only hits earned income.
One quarter of those who make $1+ million a year pay an aggregate 13% federal tax rate (including the payroll tax). As Buffett notes, this is presumably less than their secretaries.
Krugman also relays a point made by another person the GOP hates: Elizabeth Warren. No one in this country has gotten rich on his or her own. They've gotten rich thanks to the help of others (employees, customers) and the "social contract," which provides the legal, civil, and societal environment in which capitalism functions.
Hard to argue with that one.
(Our own view on this, by the way, is that we need to cut spending gradually, but the deficit cannot be closed with spending cuts alone. So taxes have to increase--including taxes on the wealthy.)
Read more: http://www.businessinsider.com/krugm...#ixzz1ZMOlNK9c