OMB: Top 20% pay 95% of taxes, middle class 'single digits'

[SeaGal]

The middle class pays 30% of their total income in taxes, I (a rich guy) pay 3% of my total income in taxes.

I'd be interested to see how you came up with the 30%. The OP refers to federal income taxes. On $50,000 total income (gross, btw) that would be $15,000. Adjusted would be considerably less than $50,000 depending on family size and children's ages. Working parents, 2 children under 17, and their federal income tax liability is reduced to >0. Figuring in the 6.3% payroll tax of around $3,000 - you come up about $12,000 short.

As a rich guy who only pays 3% of his gross in taxes - nothing is forbidding you from paying in as much additional tax as you like. Make the check payable to the IRS...or better yet, do an electronic transfer. We'll all be very grateful.

 

[dudmuck]

 

[rightwinger]

I agree with the Socialist Regressives that the rich aren't paying their fair share. They are paying way too much and it's time to lower the tax rates.

OMB: Top 20% pay 95% of taxes, middle class 'single digits'

They pay an income tax

Paying that much replects how much income they make

How much income do you make?

 

[frigidweirdo]

I agree with the Socialist Regressives that the rich aren't paying their fair share. They are paying way too much and it's time to lower the tax rates.

OMB: Top 20% pay 95% of taxes, middle class 'single digits'

The problem here is we don't know how much the rich actually pay. We know how much they claim to pay. That's a big difference.

Second, the reason the rich pay so much is because the govts of the US give them handouts on a massive scale, so they're uber-competitive which means the smaller companies are going out of business, which means they're not paying taxes, and then the large multi-nationals are sweeping up the customers and then paying less tax than the smaller companies would have been paying.

Imagine you have 10,000 small businesses paying say 30% tax, or you have on Multinational paying 5% tax, which is fairer?

What you're doing is taking something complex and making it look simple, and all the while twisting that the problem isn't a problem.

This article isn't discussing corporate tax return, but yes, that needs to equal across the board.

What is "equal" though?

 

[jillian]

I agree with the Socialist Regressives that the rich aren't paying their fair share. They are paying way too much and it's time to lower the tax rates.

OMB: Top 20% pay 95% of taxes, middle class 'single digits'

they have 99% of the wealth.

or don't you understand that. the question isn't what percent of taxes they pay. it's what percent of their INCOMES.

 

[jillian]

I agree with the Socialist Regressives that the rich aren't paying their fair share. They are paying way too much and it's time to lower the tax rates.

OMB: Top 20% pay 95% of taxes, middle class 'single digits'

They pay an income tax

Paying that much replects how much income they make

How much income do you make?

whatever it is, there is clearly no understand of how the tax system works.

but he's going to declare to everyone else that we don't give the top 1% enough of a pass. interestingly bill gates and warren buffet don't agree.

because they don't want to live in a banana republic where people like them have to put barbed wire around their homes like they do in third world countries.

 

[rightwinger]

Seems to me....the middle class should be making a hell of a lot more money

 

[Thinker101]

Seems to me....the middle class should be making a hell of a lot more money

Seems to me people like you should get a fricken job.

 

[SeaGal]

Seems to me....the middle class should be making a hell of a lot more money

The top 20% includes the upper range of middle class. It takes barely 6 figures to make it into that 'exclusive' group - and the majority of Americans will reach that level at least once. Some say the middle class is 'shrinking' because of upward mobility. The first article below states it's about half and half.

Here's an interesting calculator if you want to know which percentile you are in -

Are you in the American middle class? Find out with our income calculator
Middle-class Americans made more money last year than ever before

If you find (horrors of horrors) that you are in the 20% range, and you believe your group pays too little income tax - ezpz, pay more.

Better than 45% of the country pays no federal income tax, the bottom 20% get paid by the government. That's not to say they pay no taxes in other forms. I'm not sure how the estimated 12 million here illegally contribute to the federal coffers, income and payroll tax.

 

[SobieskiSavedEurope]

Then how are we going to pay for everything?

 

[SeaGal]

Then how are we going to pay for everything?

Well, in a household budget, if more goes out than comes in, we have basically two choices. Earn more, or spend less...a combination of the two works well. Simply taking money from my neighbor is generally frowned upon.


Raise income -

The majority of the federal budget goes to Medicare, Social Security, Medicaid, other social services and interest on the debt. Means test the first two, both in payouts and rates. Raising the employer contribution rate will be counterproductive.

Make more taxpayers - via a job friendly economic environment.

Reduce outgo -

Spend less.

Will it be painless?...nope.

 

[BluesLegend]

I agree with the Socialist Regressives that the rich aren't paying their fair share. They are paying way too much and it's time to lower the tax rates.

OMB: Top 20% pay 95% of taxes, middle class 'single digits'

Ouch! - that's gonna shatter some painful delusions.

According to the left....the rich need to be punished.
As a matter of fact, they should just hand liberals their check book and turn over the keys to their homes and cars....because they are all ill-gotten gains.

But only in America.
The wealthy in Europe get a pass.

The middle class pays 30% of their total income in taxes, I (a rich guy) pay 3% of my total income in taxes.

Why not set an example for others and gift another 27% of your income to the government what's stopping you? Besides blatant liberal hypocrisy.

 

[eddiew37]

I agree with the Socialist Regressives that the rich aren't paying their fair share. They are paying way too much and it's time to lower the tax rates.

OMB: Top 20% pay 95% of taxes, middle class 'single digits'

I'm a democrat but if we don't get tax relief I leave the party

 

[rightwinger]

The middle class pays 30% of their total income in taxes, I (a rich guy) pay 3% of my total income in taxes.

I'd be interested to see how you came up with the 30%. The OP refers to federal income taxes. On $50,000 total income (gross, btw) that would be $15,000. Adjusted would be considerably less than $50,000 depending on family size and children's ages. Working parents, 2 children under 17, and their federal income tax liability is reduced to >0. Figuring in the 6.3% payroll tax of around $3,000 - you come up about $12,000 short.

As a rich guy who only pays 3% of his gross in taxes - nothing is forbidding you from paying in as much additional tax as you like. Make the check payable to the IRS...or better yet, do an electronic transfer. We'll all be very grateful.

Cop out

The problem with our tax structure is not a lack of volunteerism

 

[SeaGal]

The middle class pays 30% of their total income in taxes, I (a rich guy) pay 3% of my total income in taxes.

I'd be interested to see how you came up with the 30%. The OP refers to federal income taxes. On $50,000 total income (gross, btw) that would be $15,000. Adjusted would be considerably less than $50,000 depending on family size and children's ages. Working parents, 2 children under 17, and their federal income tax liability is reduced to >0. Figuring in the 6.3% payroll tax of around $3,000 - you come up about $12,000 short.

As a rich guy who only pays 3% of his gross in taxes - nothing is forbidding you from paying in as much additional tax as you like. Make the check payable to the IRS...or better yet, do an electronic transfer. We'll all be very grateful.

Cop out

The problem with our tax structure is not a lack of volunteerism

Truth is never a cop out.
The problem with our tax structure is a lack of the Federal government living within its means...and volunteerism is the American way. Those who believe their percentile group isn't paying their fair share of federal income tax should put their money where their mouth is and pony up. It's the right thing to do.

 

[SobieskiSavedEurope]

Then how are we going to pay for everything?

Well, in a household budget, if more goes out than comes in, we have basically two choices. Earn more, or spend less...a combination of the two works well. Simply taking money from my neighbor is generally frowned upon.


Raise income -

The majority of the federal budget goes to Medicare, Social Security, Medicaid, other social services and interest on the debt. Means test the first two, both in payouts and rates. Raising the employer contribution rate will be counterproductive.

Make more taxpayers - via a job friendly economic environment.

Reduce outgo -

Spend less.

Will it be painless?...nope.

Why are incomes stagnant in comparison to a booming productivity?

 

[Kosh]

I agree with the Socialist Regressives that the rich aren't paying their fair share. They are paying way too much and it's time to lower the tax rates.

OMB: Top 20% pay 95% of taxes, middle class 'single digits'

While half of all wage earners in america drag home less than $30K per year in an economic system predicated upon mass consumption. Yes, let us redistribute more societal wealth to the aristocracy and subsidize even further the ruling class. What could go wrong.

I've never been employed by somebody making $30k a year.

So you have only worked for large corporations like Wal-Mart?

 

[SeaGal]

Then how are we going to pay for everything?

Well, in a household budget, if more goes out than comes in, we have basically two choices. Earn more, or spend less...a combination of the two works well. Simply taking money from my neighbor is generally frowned upon.


Raise income -

The majority of the federal budget goes to Medicare, Social Security, Medicaid, other social services and interest on the debt. Means test the first two, both in payouts and rates. Raising the employer contribution rate will be counterproductive.

Make more taxpayers - via a job friendly economic environment.

Reduce outgo -

Spend less.

Will it be painless?...nope.

Why are incomes stagnant in comparison to a booming productivity?

Are they?



Productivity and Compensation: Growing Together

Where's the link for your chart?

 

[rightwinger]

The middle class pays 30% of their total income in taxes, I (a rich guy) pay 3% of my total income in taxes.

I'd be interested to see how you came up with the 30%. The OP refers to federal income taxes. On $50,000 total income (gross, btw) that would be $15,000. Adjusted would be considerably less than $50,000 depending on family size and children's ages. Working parents, 2 children under 17, and their federal income tax liability is reduced to >0. Figuring in the 6.3% payroll tax of around $3,000 - you come up about $12,000 short.

As a rich guy who only pays 3% of his gross in taxes - nothing is forbidding you from paying in as much additional tax as you like. Make the check payable to the IRS...or better yet, do an electronic transfer. We'll all be very grateful.

Cop out

The problem with our tax structure is not a lack of volunteerism

Truth is never a cop out.
The problem with our tax structure is a lack of the Federal government living within its means...and volunteerism is the American way. Those who believe their percentile group isn't paying their fair share of federal income tax should put their money where their mouth is and pony up. It's the right thing to do.

The Government performs the functions We the People demand

 

[SobieskiSavedEurope]

Then how are we going to pay for everything?

Well, in a household budget, if more goes out than comes in, we have basically two choices. Earn more, or spend less...a combination of the two works well. Simply taking money from my neighbor is generally frowned upon.


Raise income -

The majority of the federal budget goes to Medicare, Social Security, Medicaid, other social services and interest on the debt. Means test the first two, both in payouts and rates. Raising the employer contribution rate will be counterproductive.

Make more taxpayers - via a job friendly economic environment.

Reduce outgo -

Spend less.

Will it be painless?...nope.

Why are incomes stagnant in comparison to a booming productivity?

Are they?



Productivity and Compensation: Growing Together

Where's the link for your chart?

Well, even your link would support that compensation fell 23% behind.

So, why is that?