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Thread: As the rich get richer

  1. #1
    SiriuslyLong is offline
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    SiriuslyLong's Avatar
    Joined: Jan 2009 Location: Ann Arbor, MI Posts: 3,560

    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

  2. #2
    SiriuslyLong is offline
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    Joined: Jan 2009 Location: Ann Arbor, MI Posts: 3,560
    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/

  3. #3
    Havakasha is offline
    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
    Last edited by Havakasha; 09-30-2011 at 10:06 AM.

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