America’s wealthiest families smash income ceiling, middle-class left far behind

[bripat9643]

True perhaps for some, but it's GOP tax rates and policy that are screwing the non-rich in general.

Reagan and Bush, both cut rates for the non-rich.

Regan lowered the top 1%ers tax from 70 to 28 percent, while raising payroll taxes. Then, you can add increases in gas taxes and cigarette taxes.

Bush did lower taxes, enough to buy season tickets to your favorite team. But then he crashed the economy, which middle class and poor have yet to recover.

In 1981, married filing jointly, earnings between $24,600-$29,900 were in the 32% bracket.
In 1982, that dropped to 29%. In 1983, 26%. In 1984, 25%. In 1987, mostly the 15% bracket.
In 1988, entirely in the 15% bracket.
The brackets below those income levels had similar drops in rate.

http://taxfoundation.org/sites/taxfoundation.org/files/docs/fed_individual_rate_history_nominal.pdf

Again, you don't PAY tax rates. If you'll post your effective (actual) rate, my bet is that it went up.

Easy: Total federal tax paid ÷ total earnings.

What are "total earnings" as opposed to your taxable income reported to the IRS?

An IRS rule.

In other words, "total earnings" means total revenue. So the "effective tax rate" is nothing but a scam.

 

[OnePercenter]

Regan lowered the top 1%ers tax from 70 to 28 percent, while raising payroll taxes. Then, you can add increases in gas taxes and cigarette taxes.

Bush did lower taxes, enough to buy season tickets to your favorite team. But then he crashed the economy, which middle class and poor have yet to recover.

In 1981, married filing jointly, earnings between $24,600-$29,900 were in the 32% bracket.
In 1982, that dropped to 29%. In 1983, 26%. In 1984, 25%. In 1987, mostly the 15% bracket.
In 1988, entirely in the 15% bracket.
The brackets below those income levels had similar drops in rate.

http://taxfoundation.org/sites/taxfoundation.org/files/docs/fed_individual_rate_history_nominal.pdf

Again, you don't PAY tax rates. If you'll post your effective (actual) rate, my bet is that it went up.

Easy: Total federal tax paid ÷ total earnings.

What are "total earnings" as opposed to your taxable income reported to the IRS?

An IRS rule.

In other words, "total earnings" means total revenue. So the "effective tax rate" is nothing but a scam.

Effective is what you actually paid.

 

[AntiParty]

Despite, or because of, the fallout from the 2007 Great Recession, annual earnings between the richest Americans and everybody else have exploded to record levels. Meanwhile middle- and lower-class wealth growth remains stagnant.
The median wealth for high-income families hit $639,400 last year, a whopping 7 percent jump from three years earlier and seven times greater than middle-class incomes, which stood at $96,500 according to Pew Research Center, citing data from the Federal Reserve.
Middle-class median wealth, which Pew defines as the difference between the value of a household’s total assets and debts, has not advanced since 2010.
The financial chasm now separating the rich and everybody else is the widest since the Fed began tracking earnings 30 years ago, which became even more pronounced following the 2008 global financial crisis.
America 8217 s wealth gap between middle-income and upper-income families is widest on record Pew Research Center

Wealth Gap between America s Rich and Middle-Class Families Widest on Record - Real Time Economics - WSJ

IMO The American Dream was always a myth, but now it has turned into a nightmare for 47% of Americans. This robbing of the poor half of the population has been quite deliberate, by allowing unchecked immigration to obtain cheap labor and by off shoring of jobs to India and China. The Federal minimum wage has remained at $7.25 per hour since Obama took office, while the cost of living has increased substantially. There is no justification for this, since corporate profits have never been higher.

Big Corp. owns Politicians. Our Bills are actually written by Big Corporations and our Politicans admit they don't read them.

They get away with this because ALL parties are guilty, yet every party seems to think they are the only good and clean route to their success.

All parties are dirty and the dirt is the same in all parties.

 

[bripat9643]

In 1981, married filing jointly, earnings between $24,600-$29,900 were in the 32% bracket.
In 1982, that dropped to 29%. In 1983, 26%. In 1984, 25%. In 1987, mostly the 15% bracket.
In 1988, entirely in the 15% bracket.
The brackets below those income levels had similar drops in rate.

http://taxfoundation.org/sites/taxfoundation.org/files/docs/fed_individual_rate_history_nominal.pdf

Again, you don't PAY tax rates. If you'll post your effective (actual) rate, my bet is that it went up.

Easy: Total federal tax paid ÷ total earnings.

What are "total earnings" as opposed to your taxable income reported to the IRS?

An IRS rule.

In other words, "total earnings" means total revenue. So the "effective tax rate" is nothing but a scam.

Effective is what you actually paid.

Divided by what, numskull? It's a scam. How is the effective tax rate calculated for a corporation that had a net taxable income of minus $10 billion?

 

[zeke]

Divided by what, numskull? It's a scam. How is the effective tax rate calculated for a corporation that had a net taxable income of minus $10 billion?

You trying to be as stupid as the rabbit? You did it.

How the fuck do you pay taxes on a loss? ie, "corporation that had a net taxable income of minus $10 billion?"
That sentence doesn't even make sense. Net taxable income on a 10 billion loss. Good god you are dumb.

 

[bripat9643]

Divided by what, numskull? It's a scam. How is the effective tax rate calculated for a corporation that had a net taxable income of minus $10 billion?

You trying to be as stupid as the rabbit? You did it.

How the fuck do you pay taxes on a loss? ie, "corporation that had a net taxable income of minus $10 billion?"
That sentence doesn't even make sense. Net taxable income on a 10 billion loss. Good god you are dumb.

The drones who keep talking about "effective tax" rate obviously aren't using net taxable income to do the calculation. Otherwise they would come up with a tax rate of 35%, so they must be using gross revenues. If that's the case, then a company with a positive effective tax rate could easily have suffered a loss.

Of course, none of you turds will show how the calculation is done. Until you do, you're a bunch of lying assholes.

 

[initforme]

"
Click to expand...
Big Corp. owns Politicians. Our Bills are actually written by Big Corporations and our Politicans admit they don't read them.

They get away with this because ALL parties are guilty, yet every party seems to think they are the only good and clean route to their success.

All parties are dirty and the dirt is the same in all parties."


No truer words can be spoken. Yet average working Americans don't say much about it. They have us right where they want us...laughing all the way to the bank. And those that are laughed at are the ones making the big bucks for the corporation. Unreal.

 

[SteadyMercury]

My point is that the middle class has to make up for the loss, while the majority of the upper class wrote it off reducing their tax bill.

My point is only a fucking retard would try to use the economiccollapseblog as a source, and when you do it in 2015 when there is $2.00 gas an most of your source is a list from 2011 that references high gas prices you double your retard strength to the ability to lift houses. Congrats, OnePercenter is the retard who can lift worlds.

Furthermore the middle class isn't making up for any loss, since it has been demonstrated their income in real dollars has had no significant decrease. Apparently you think suffering is defined as seeing other people do better.

 

[initforme]

The middle class is the class that makes the uber wealthy their wealth... get that? When they eventually wake up its going to be heck to pay all across the board.

 

[OnePercenter]

Divided by what, numskull? It's a scam. How is the effective tax rate calculated for a corporation that had a net taxable income of minus $10 billion?

The only scam is YOU. Go away Canadian!

Effective Tax Rate Definition Investopedia

 

[Toddsterpatriot]

Divided by what, numskull? It's a scam. How is the effective tax rate calculated for a corporation that had a net taxable income of minus $10 billion?

The only scam is YOU. Go away Canadian!

Effective Tax Rate Definition Investopedia

Thanks for the link!!!

For corporations, the effective tax rate is computed by dividing total tax expenses by the firm's earnings before taxes.

Berkshire's 2013 effective tax rate was 31.08%.
When you said it was low single digits, were you lying, or just stupid?

 

[OnePercenter]

My point is only a fucking retard would try to use the economiccollapseblog as a source, and when you do it in 2015 when there is $2.00 gas an most of your source is a list from 2011 that references high gas prices you double your retard strength to the ability to lift houses. Congrats, OnePercenter is the retard who can lift worlds.

Furthermore the middle class isn't making up for any loss, since it has been demonstrated their income in real dollars has had no significant decrease. Apparently you think suffering is defined as seeing other people do better.

Any time you have a loss you have to recover, dummy. Millions of Americans lost all or part of their retirement when BushCo crashed the economy, some have recovered the amount lost, but will forever not recover the money lost from losses in investing the original, something that we wealthy don't have to deal.

 

[OnePercenter]

Divided by what, numskull? It's a scam. How is the effective tax rate calculated for a corporation that had a net taxable income of minus $10 billion?

The only scam is YOU. Go away Canadian!

Effective Tax Rate Definition Investopedia

Thanks for the link!!!

For corporations, the effective tax rate is computed by dividing total tax expenses by the firm's earnings before taxes.

Berkshire's 2013 effective tax rate was 31.08%.
When you said it was low single digits, were you lying, or just stupid?

Why is it calculated differently?

 

[ScienceRocks]

How would we go about solving this problem?

 

[Dot Com]

its what the republican's sky pixie wants. Poor people, and the dwindling middle-class are supposed to suffer

 

[ScienceRocks]

its what the republican's sky pixie wants. Poor people, and the dwindling middle-class are supposed to suffer

I want a larger middle class.

More science, infrastructure, investment into r&d and of course a better educational system. That last one probably should be borrowed from a top 5 educational country as we don't seem to have a clue on designing our own.

I am pro minimum wage...Increase it to 12.00 bucks per hour.
Allow people making less than 10,000 dollars a year to have food stamps(100-200 dollars per month) and redesign section 8 to be for everyone that has low income.

 

[AntiParty]

Divided by what, numskull? It's a scam. How is the effective tax rate calculated for a corporation that had a net taxable income of minus $10 billion?

You trying to be as stupid as the rabbit? You did it.

How the fuck do you pay taxes on a loss? ie, "corporation that had a net taxable income of minus $10 billion?"
That sentence doesn't even make sense. Net taxable income on a 10 billion loss. Good god you are dumb.

The drones who keep talking about "effective tax" rate obviously aren't using net taxable income to do the calculation. Otherwise they would come up with a tax rate of 35%, so they must be using gross revenues. If that's the case, then a company with a positive effective tax rate could easily have suffered a loss.

Of course, none of you turds will show how the calculation is done. Until you do, you're a bunch of lying assholes.

Tax rates are different than tax rebates or tax deductions.

Actual paid is what he is discussing.

26 top American corporations paid no federal income tax from 08 to 12 report RT USA

The process is America giving tax breaks for "good spending" and accountants manipulating the system just like a "Extreme Couponing".

The grocery store is surprised when they realized someone could buy a cart full for no money via an EXPLOIT.

Yet you don't seem to understand this on a bigger and more important scale..I mean, Pepco had a -33% tax rate last year after these adjustments......

Or perhaps you think America should allow Pepco to pay no taxes AND give them money..........

 

[OnePercenter]

How would we go about solving this problem?

1. Vote out Republicans and third parties.
2. All corporate tax incentives should be hiring and employee based.

 

[AntiParty]

How would we go about solving this problem?

1. Vote out Republicans and third parties.
2. All corporate tax incentives should be hiring and employee based.

So you think Corporations should be in charge of taxation?

 

[OnePercenter]

How would we go about solving this problem?

1. Vote out Republicans and third parties.
2. All corporate tax incentives should be hiring and employee based.

So you think Corporations should be in charge of taxation?

No.