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

[WinterBorn]

Income tax is based on percentage of income. The only people who are surprised that the top earners pay the lion's share are those who suck at math.

 

[rightwinger]

Income tax is based on percentage of income. The only people who are surprised that the top earners pay the lion's share are those who suck at math.

Top earners monopolize the lions share of the income

No surprise they should pay the lions share of the taxes......only significantly less than they used to

 

[mudwhistle]

I think the richest 10% should pay 50% of the taxes.......which would mean that their taxes should drop another 20%....because they 70% already.

I think all taxes should be based on consumption.
If you're consuming then you should be assessed 15% for everything you buy.
Oh, and your 15% cannot be subsidized by the government.

 

[JoeNormal]

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.

I wonder who first came up with this lame-ass talking point. It sounds stupid enough to be Ann Coulter.

 

[BluesLegend]

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.

Our government is living WAY beyond its means maxing out credit cards our grand kids and their grand kids will be stuck paying off for decades because we behave like children, borrowing and spending like there's no tomorrow.

Gimme, I want, gimme Christ what a nightmare. No mystery why every world dominate country in all of human history ultimately went broke and destroyed itself.

 

[rightwinger]

I think the richest 10% should pay 50% of the taxes.......which would mean that their taxes should drop another 20%....because they 70% already.

I think all taxes should be based on consumption.
If you're consuming then you should be assessed 15% for everything you buy.
Oh, and your 15% cannot be subsidized by the government.

Nobody consumes more than the rich and corporations

 

[rightwinger]

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.

I wonder who first came up with this lame-ass talking point. It sounds stupid enough to be Ann Coulter.

It is the dumbest analogy

Like saying if you want schools, you should just pay more to fund them
If you want wars....you pay for it

 

[SeaGal]

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.

I wonder who first came up with this lame-ass talking point. It sounds stupid enough to be Ann Coulter.

No, actually it's about honor and conscience - if you think your federal income tax liability is too small - send more. That would be the honorable thing to do, put your money where your mouth is, not your neighbors. Sadly, conscience challenged folk often mistake honor for stupidity.

It is the dumbest analogy

Like saying if you want schools, you should just pay more to fund them
If you want wars....you pay for it

If you think it's a dumb analogy, that might be because it isn't an analogy.

.

 

[Markle]

what is it exactly do you want?

What every American wants, for everyone to have some skin in the game. If you live in this country, you owe something to pay our way.

 

[Markle]

No, delusions are for denying the discomfort of reality. You had your chance - let's revisit this when we acquire another 10 Trillion in debt, wages stay stagnant and economic growth hovers around 1.5%. Until then...

Until then...

Ramping Up: GDP Hits 3.0% In Advance Q3 Estimate
ED MORRISSEYPosted at 9:21 am on October 27, 2017

Real gross domestic product (GDP) increased at an annual rate of 3.0 percent in the third quarter of 2017 (table 1), according to the “advance” estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 3.1 percent. …

The increase in real GDP in the third quarter reflected positive contributions from personal consumption expenditures (PCE), private inventory investment, nonresidential fixed investment, exports, and federal government spending. These increases were partly offset by negative contributions from residential fixed investment and state and local government spending. Imports, which are a subtraction in the calculation of GDP, decreased (table 2).

The deceleration in real GDP growth in the third quarter primarily reflected decelerations in PCE, in nonresidential fixed investment, and in exports that were partly offset by an acceleration in private inventory investment and a downturn in imports.

Ramping up: GDP hits 3.0% in advance Q3 estimate - Hot Air

 

[rightwinger]

what is it exactly do you want?

What every American wants, for everyone to have some skin in the game. If you live in this country, you owe something to pay our way.

Everyone pays some type of taxes

Why go after our poorest citizens for additional revenue when the wealthy have so much?

 

[Markle]

Nope. I have and stand by the fact that the middle class doesn't pay that much and if they get a tax cut, their taxes will go lower. After all, what you asked was, "What would happen if the middle class gets a tax cut? I said, their taxes would go lower.

How can they go lower when the top 20% pay 95% of income taxes?

 

[Markle]

We all have skin in the game. That's how a market economy works.

If you're not paying federal income taxes you have no skin in the game.

 

[Markle]

Everyone pays some type of taxes

Why go after our poorest citizens for additional revenue when the wealthy have so much?

Not "going after anyone". Everyone who lives here owes something for the privilege. They also pay closer attention to what is being spent if they're not getting paid to live here and have to get out and help pull the wagon!

 

[SobieskiSavedEurope]

It's not rich civilian taxes being cut that creates jobs, but rather business taxes being cut that creates jobs.

If anything we should tax rich civilians more, to build better infrastructure to HELP BUSINESSES.

All Third World countries have crap infrastructure, but I guess that's "Cool" to Republicans.

 

[Markle]

Except the government is holding the interest rates at 0% which makes holding any savings very unattractive.

The current Fed. rate is 1.25% which still is very unattractive for savings.

The constant printing of trillions of dollars by the Fed found itself, through a circuitous route into the Stock Market which was the only place to profit.

 

[Markle]

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.

True until you got to the part about Europe. They pay massive taxes plus almost every country has obscene Value Added Taxes (VAT)

 

[Markle]

So? Did they take anything from you? No! So what's your problem?

 

[rightwinger]

Everyone pays some type of taxes

Why go after our poorest citizens for additional revenue when the wealthy have so much?

Not "going after anyone". Everyone who lives here owes something for the privilege. They also pay closer attention to what is being spent if they're not getting paid to live here and have to get out and help pull the wagon!

You tax where the money is
You don't go after those struggling to survive

 

[Markle]

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?

Why are you afraid to include the entire administration of petulant former President Barack Hussein Obama?