Should billionaires pay taxes at a lower rate than the rest of us?

[Chris]

 

[Chris]

WASHINGTON, D.C.--The 400 highest-earning taxpayers in the U.S. reported a record $105 billion in total adjusted gross income in 2006, but they paid just $18 billion in tax, new Internal Revenue Service figures show. That works out to an average federal income tax bite of 17%--the lowest rate paid by the richest 400 during the 15-year period covered by the IRS statistics. The average federal tax bite on the top 400 was 30% in 1995 and 23% in 2002.

Richest 400 Earn More, Pay Lower Tax Rate - Forbes.com

They don't--the top tax rate in the country is 35%--which is what millionaires and billionaires pay. In fact the top 1% in this country--(the over 350K crowd pays 45%) of the entire federal tax base.

This is on EARNED income--Capital gains tax is 15% for everyone.

There are 220K people in this country that make one million or more--out of 310 MILLION Americans.

You didn't answer the question.

Should billionaires pay lower taxes at a lower rate than the rest of us?

 

[TheDecepticon]

Who has more to protect? The guy living in a 2 million dollar home or the guy living in a $200,000 home?

Shouldn't the guy with MORE to protect, PAY MORE?

Flat taxes are a wet-dream for the rich and STUPID people who aren't good at math.

 

[Chris]

Who has more to protect? The guy living in a 2 million dollar home or the guy living in a $200,000 home?

Shouldn't the guy with MORE to protect, PAY MORE?

Flat taxes are a wet-dream for the rich and STUPID people who aren't good at math.

A flat tax is a way to transfer the tax burden to the poor from the rich.

That's why Republicans love it.

It fits in with their "Blame the poor" mantra.

 

[WillowTree]

WASHINGTON, D.C.--The 400 highest-earning taxpayers in the U.S. reported a record $105 billion in total adjusted gross income in 2006, but they paid just $18 billion in tax, new Internal Revenue Service figures show. That works out to an average federal income tax bite of 17%--the lowest rate paid by the richest 400 during the 15-year period covered by the IRS statistics. The average federal tax bite on the top 400 was 30% in 1995 and 23% in 2002.

Richest 400 Earn More, Pay Lower Tax Rate - Forbes.com

Fifty percent of you leeches pay ZERO federal income tax. how much lower can ya get?

 

[Claudette]

WASHINGTON, D.C.--The 400 highest-earning taxpayers in the U.S. reported a record $105 billion in total adjusted gross income in 2006, but they paid just $18 billion in tax, new Internal Revenue Service figures show. That works out to an average federal income tax bite of 17%--the lowest rate paid by the richest 400 during the 15-year period covered by the IRS statistics. The average federal tax bite on the top 400 was 30% in 1995 and 23% in 2002.

Richest 400 Earn More, Pay Lower Tax Rate - Forbes.com

Chris, you really need to read your source.
The 'rich' (a married couple earning over $250K a year, per our CIC) pays what % in taxes?
The ultra wealthy have already paid the higher % on their earned income. They pay a lower % on capital gains (investments).
The current top rate on long-term capital gains is 15%, and the top rate on ordinary (earned) income such as interest and salary is 35%.

I know you are smart enough to understand the differences.

Why would anyone in their right mind want to pay the earned income tax rate on money that was already earned??

Yup. Money that they have already payed taxes on.

 

[Chris]

WASHINGTON, D.C.--The 400 highest-earning taxpayers in the U.S. reported a record $105 billion in total adjusted gross income in 2006, but they paid just $18 billion in tax, new Internal Revenue Service figures show. That works out to an average federal income tax bite of 17%--the lowest rate paid by the richest 400 during the 15-year period covered by the IRS statistics. The average federal tax bite on the top 400 was 30% in 1995 and 23% in 2002.

Richest 400 Earn More, Pay Lower Tax Rate - Forbes.com

Fifty percent of you leeches pay ZERO federal income tax. how much lower can ya get?

I paid $22,000 in federal taxes last year.

 

[Chris]

 

[peach174]

They already pay more, how much more is fair?
Stop believing what is being said and look up the info for yourselves.


The latest data show that a big portion of the federal income tax burden is shouldered by a small group of the very richest Americans. The wealthiest 1 percent of the population earn 19 percent of the income but pay 37 percent of the income tax. The top 10 percent pay 68 percent of the tab. Meanwhile, the bottom 50 percent—those below the median income level—now earn 13 percent of the income but pay just 3 percent of the taxes. These are proportions of the income tax alone and don’t include payroll taxes for Social Security and Medicare.

See it for what it really is class warfare by the left.
The lefty's ideology is always divide and conquer.
They never want us to be united as Americans on anything.
That would be Dems biggest nightmare if we the people did this.
One of things of the Tea Party and OWS is crony capitalism, but you will never hear much of this in the news. They don't want us united period.
You will never hear from dems that we are all in this boat together, that we must all pull together or anything at all about how we all will need to do things together, to get us out of the mess Washington has gotten us into.

 

[Chris]

They already pay more, how much more is fair?
Stop believing what is being said and look up the info for yourselves.


The latest data show that a big portion of the federal income tax burden is shoul*dered by a small group of the very richest Americans. The wealthiest 1 percent of the population earn 19 per*cent of the income but pay 37 percent of the income tax. The top 10 percent pay 68 percent of the tab. Meanwhile, the bottom 50 percent—those below the median income level—now earn 13 percent of the income but pay just 3 percent of the taxes. These are proportions of the income tax alone and don’t include payroll taxes for Social Security and Medicare.

See it for what it really is class warfare by the left.
The lefty's ideology is always divide and conquer.
They never want us to be united as Americans on anything.
That would be Dems biggest nightmare if we the people did this.
One of things of the Tea Party and OWS is crony capitalism, but you will never hear much of this in the news. They don't want us united period.
You will never hear from dems that we are all in this boat together, that we must all pull together or anything at all about how we all will need to do things together, to get us out of the mess Washington has gotten us into.

You didn't answer the quesiton.

Should billionaires pay taxes at a lower rate than the rest of us?

 

[Mr Natural]

Imagine how many jobs would be created if those folks making over $1 million a year didn't have to pay any taxes at all.

 

[hortysir]

This is the graph I was talking about, Chris.


can you please tell me what happens to that line after Jan. 20, 2008??

Then I'll tell you where your pet 'occupiers' should be camping out

 

[sgeppy118]

WASHINGTON, D.C.--The 400 highest-earning taxpayers in the U.S. reported a record $105 billion in total adjusted gross income in 2006, but they paid just $18 billion in tax, new Internal Revenue Service figures show. That works out to an average federal income tax bite of 17%--the lowest rate paid by the richest 400 during the 15-year period covered by the IRS statistics. The average federal tax bite on the top 400 was 30% in 1995 and 23% in 2002.

Richest 400 Earn More, Pay Lower Tax Rate - Forbes.com

Fifty percent of you leeches pay ZERO federal income tax. how much lower can ya get?

Leeches. Really. The numbers speak for themselves. The rich have been able to manipulate the people for long enough. When you have some of the wealthiest and intelligent Americans like Bill Gates and Warren Buffet come forward and say I don't pay enough in taxes, that's enough proof for me. And this country has continuously earned EVERYTHING it has achieved. Even now we have our "LEECHES" as you call them, in countries they don't belong fighting wars to pad the wallets of the WEALTHY.

You should seriously take a step back and reassess. America is proud, and the middle class is America.

 

[TheDecepticon]

They already pay 70% of the tax burden you fucking moron, class warfare obama bot.

You neglect to mention that the rich make 90% of the income.

I guess that concept that the rich are UNDERTAXED is probably too much for you, huh?

 

[peach174]

They already pay more, how much more is fair?
Stop believing what is being said and look up the info for yourselves.


The latest data show that a big portion of the federal income tax burden is should*dered by a small group of the very richest Americans. The wealthiest 1 percent of the population earn 19 per*cent of the income but pay 37 percent of the income tax. The top 10 percent pay 68 percent of the tab. Meanwhile, the bottom 50 percent—those below the median income level—now earn 13 percent of the income but pay just 3 percent of the taxes. These are proportions of the income tax alone and don’t include payroll taxes for Social Security and Medicare.

See it for what it really is class warfare by the left.
The lefty's ideology is always divide and conquer.
They never want us to be united as Americans on anything.
That would be Dems biggest nightmare if we the people did this.
One of things of the Tea Party and OWS is crony capitalism, but you will never hear much of this in the news. They don't want us united period.
You will never hear from dems that we are all in this boat together, that we must all pull together or anything at all about how we all will need to do things together, to get us out of the mess Washington has gotten us into.

You didn't answer the question.

Should billionaires pay taxes at a lower rate than the rest of us?

NO !
That is what I am talking about, we should have a flat or fair tax where everyone pays the same rate, but those who make more will still be paying more in taxes than those who make less.

 

[healthmyths]

Imagine how many jobs would be created if those folks making over $1 million a year didn't have to pay any taxes at all.

FACTS..
But as this economic study shows for every 1 million spent in retail there is an economic multiplier of According to this web site:
www2.econ.iastate.edu/research/webpapers/paper_13143.pdf

For every 1 million dollars spent by the spent because of the TAX cuts:

• $1.188 million in total economic activity takes place for every $1 million spent..

• Each $1 million spent provides $205,829 in labor incomes

• Each $1 million represents 7.7 workers and assuming 35% (payroll taxes, FICA, FUTA, Medicare, SS)

 

[healthmyths]

WASHINGTON, D.C.--The 400 highest-earning taxpayers in the U.S. reported a record $105 billion in total adjusted gross income in 2006, but they paid just $18 billion in tax, new Internal Revenue Service figures show. That works out to an average federal income tax bite of 17%--the lowest rate paid by the richest 400 during the 15-year period covered by the IRS statistics. The average federal tax bite on the top 400 was 30% in 1995 and 23% in 2002.

Richest 400 Earn More, Pay Lower Tax Rate - Forbes.com

FACTS!!! WHERE ARE YOU FACTS!!!
In 2009!
Down LOAD THIS FILE from the IRS for tax year 2009!

SOI Tax Stats - Individual Statistical Tables by Size of Adjusted Gross Income
Total returns over $10 million reported income 8,274
Total returns UNDER $10 million 140,485,855

Total Reported taxes paid Over $10 million income
Total taxable gross income $204.3 billion
Total taxes paid on above $53.7 billion
Total % of gross paid in taxes 26.33%

For the rest of the tax payers total report income $4.656 TRILLION
Total taxes paid by rest of tax payers total taxes $812 Billion!!
Total % of gross taxable income for the REST of the taxpayers 17.44%

DO YOU UNDERSTAND???
Those wealthy 400 you wrote about PAID 26%
while the rest of us paid 17%

FACTS YES FACTS
IRS reports 8,275 returns paid 26.3% of income in taxes..
IRS reports all the rest 140 million paid 17.44%!!!!

OH by the way OBAMA paid 26% NOT 39%!!!

 

[WillowTree]

WASHINGTON, D.C.--The 400 highest-earning taxpayers in the U.S. reported a record $105 billion in total adjusted gross income in 2006, but they paid just $18 billion in tax, new Internal Revenue Service figures show. That works out to an average federal income tax bite of 17%--the lowest rate paid by the richest 400 during the 15-year period covered by the IRS statistics. The average federal tax bite on the top 400 was 30% in 1995 and 23% in 2002.

Richest 400 Earn More, Pay Lower Tax Rate - Forbes.com

Fifty percent of you leeches pay ZERO federal income tax. how much lower can ya get?

Leeches. Really. The numbers speak for themselves. The rich have been able to manipulate the people for long enough. When you have some of the wealthiest and intelligent Americans like Bill Gates and Warren Buffet come forward and say I don't pay enough in taxes, that's enough proof for me. And this country has continuously earned EVERYTHING it has achieved. Even now we have our "LEECHES" as you call them, in countries they don't belong fighting wars to pad the wallets of the WEALTHY.

You should seriously take a step back and reassess. America is proud, and the middle class is America.

It does not negate the fact that 50% of Americans pay ZERO in federal income tax now does it? Yet they leech off the system the other 50% pay into to and you want to conduct class warfare saying the 50% aren't paying enough. It's time for you to get real.

 

[asterism]

WASHINGTON, D.C.--The 400 highest-earning taxpayers in the U.S. reported a record $105 billion in total adjusted gross income in 2006, but they paid just $18 billion in tax, new Internal Revenue Service figures show. That works out to an average federal income tax bite of 17%--the lowest rate paid by the richest 400 during the 15-year period covered by the IRS statistics. The average federal tax bite on the top 400 was 30% in 1995 and 23% in 2002.

Richest 400 Earn More, Pay Lower Tax Rate - Forbes.com

$18 Billion from the richest 400 in 2009. What was the total paid by the richest 400 in 1995?

 

[asterism]

But is tax revenue for that richest 400 going up or down?