Analysis: Tax bills for the rich at highest in decades
But middle- and low-income families aren't paying as much as they used to, a study finds.
By STEPHEN OHLEMACHER The Associated Press
"WASHINGTON - The poor rich.
U.S. TAX BURDEN, 2013
MIDDLE 20 PERCENT Average income: $46,562 Average tax bill: $6,436
Average tax rate: 13.8 percent
TOP 20 PERCENT Average income: $204,490 Average tax bill: $55,533
Average tax rate: 27.2 percent
TOP 1 PERCENT
Average income: $1.4 million Average tax bill: $514,144
Average tax rate: 35.5 percent
Source: Tax Policy Center
With Washington gridlocked again over whether to raise their taxes, it turns out wealthy families already are paying some of their biggest federal tax bills in decades even as the rest of the population continues to pay at historically low rates."
__________________
"In the 80's we had Ronald Reagan. We also had Bob Hope and Johnny Cash. Now we got Obama, no Hope and no Cash."
Analysis: Tax bills for the rich at highest in decades
But middle- and low-income families aren't paying as much as they used to, a study finds.
By STEPHEN OHLEMACHER The Associated Press
"WASHINGTON - The poor rich.
U.S. TAX BURDEN, 2013
MIDDLE 20 PERCENT Average income: $46,562 Average tax bill: $6,436
Average tax rate: 13.8 percent
TOP 20 PERCENT Average income: $204,490 Average tax bill: $55,533
Average tax rate: 27.2 percent
TOP 1 PERCENT
Average income: $1.4 million Average tax bill: $514,144
Average tax rate: 35.5 percent
Source: Tax Policy Center
With Washington gridlocked again over whether to raise their taxes, it turns out wealthy families already are paying some of their biggest federal tax bills in decades even as the rest of the population continues to pay at historically low rates."
"Decades??"
The only tax change that has occurred was simply letting the Bush era tax cuts on the wealthy expire.
The only tax change that has occurred was simply letting the Bush era tax cuts on the wealthy expire.
I didn't write the article...just posted it. I'm sure it's wrong. The rich have been skating for years and those millions of people getting free chit deserve it as we are the wealthiest nation in the history of the world. Now get your ass to work and I will too so we can pay for all their free stuff.
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"In the 80's we had Ronald Reagan. We also had Bob Hope and Johnny Cash. Now we got Obama, no Hope and no Cash."
The only tax change that has occurred was simply letting the Bush era tax cuts on the wealthy expire.
letting Bush era tax cuts expire is still a tax increase no matter how you look at it or word it. To bad all Obama has done is increased spending after receiving the extra revenue.... Oh and on top of that our economy is still sputtering about...
The only tax change that has occurred was simply letting the Bush era tax cuts on the wealthy expire.
so why didn't they let all the bush tax cuts expire so that more people have a little skin in the game??? Maybe they were scared that the tea party would swell in ranks once everybody had to start paying for the bloated gubmnt we have now. EVERYBODY should have to pay federal income taxes and then you would see a lot more people concerned about how much money is wasted.
Those evil rich people need to pay more so that those who don't pay anything have to suffer.
The evil rich included Steve Jobs and Sam Walton. Someone please enlighten us as to how many jobs they created. How many of those jobs still exist?
Those damn successful people deserve to pay more so that the jobs will be less. It's lost upon many of the critics that substantially all the jobs that were created by Walton and Jobs went to middle and lower income persons.
Tax the successful, spend trillions that we do not have, cause our children's lives not to be as good as ours, foist our out-of-control spending on those who have no say in it and endanger their economic well-being.
All the while, both parties play games such as those engaged in by 7th graders. "Bob is a real ass." They and we should be proud of the damage we are doing to those who will inherit the consequences of the unprecedented spending.
After all, we won't ever have to pay the debt back. They will.
Thought about making a separate thread, but this may be a good place to post this vid:
Good video and a good argument for our progressive income tax structure and for an increase in the capital gains tax (or simply doing away with the distinction between capital gains and income altogether and taxing it all as income).
Societies with too much income inequity are inherently unstable.
The evil rich included Steve Jobs and Sam Walton. Someone please enlighten us as to how many jobs they created. How many of those jobs still exist?
Those damn successful people deserve to pay more so that the jobs will be less. It's lost upon many of the critics that substantially all the jobs that were created by Walton and Jobs went to middle and lower income persons.
Tax the successful, spend trillions that we do not have, cause our children's lives not to be as good as ours, foist our out-of-control spending on those who have no say in it and endanger their economic well-being.
All the while, both parties play games such as those engaged in by 7th graders. "Bob is a real ass." They and we should be proud of the damage we are doing to those who will inherit the consequences of the unprecedented spending.
After all, we won't ever have to pay the debt back. They will.
+1
__________________
"It's easier to convince a person that a government should be doing something for them it currently isn't than to convince a person that government shouldn't be doing something for them it currently is."
Thought about making a separate thread, but this may be a good place to post this vid:
Saw the envy video about 2 hours ago on FB...
Love how the guy cites the 1% makes 24% of the income yet ignores they pay almost 40% of the income taxes...
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"It's easier to convince a person that a government should be doing something for them it currently isn't than to convince a person that government shouldn't be doing something for them it currently is."
Love how the guy cites the 1% makes 24% of the income yet ignores they pay almost 40% of the income taxes...
Income taxes account for less than half the revenue the federal government takes in. When you account for all taxes, the top 1% pays around 25% of the total federal taxes in this country.
The income of the top 1% is now taxed at the highest rate since 1979, according to the article. However, the income of the top 1% has gone up by about 275% since 1979, while the income of most folks has hardly gone up during that period. So, are you better off if you make $500,000 in a year and pay 30% in tax or if you make $1.5 million in a year and pay 40% in tax.
the income of the top 1% is now taxed at the highest rate since 1979, according to the article. However, the income of the top 1% has gone up by about 275% since 1979, while the income of most folks has hardly gone up during that period. So, are you better off if you make $500,000 in a year and pay 30% in tax or if you make $1.5 million in a year and pay 40% in tax.
Those of you who want to complain and point fingers about how unfair income inequality is, go ahead. Moan, groan, complain, bitch, gripe...have a drama queen melt down. I'd rather spend my time trying to get my ass in the top 1%.
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"In the 80's we had Ronald Reagan. We also had Bob Hope and Johnny Cash. Now we got Obama, no Hope and no Cash."
Taxing the Rich.
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