Tax Burden of Top 1% Now Exceeds That of Bottom 95%

Discussion in 'Politics' started by Andrew2382, Aug 1, 2009.

  1. Andrew2382
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    Andrew2382 Gold Member

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    But hey lets raise taxes on these people even more


    The Tax Foundation - Tax Burden of Top 1% Now Exceeds That of Bottom 95%

    Tax Burden of Top 1% Now Exceeds That of Bottom 95%

    by Scott A. Hodge

    Newly released data from the IRS clearly debunks the conventional Beltway rhetoric that the "rich" are not paying their fair share of taxes.

    Indeed, the IRS data shows that in 2007—the most recent data available—the top 1 percent of taxpayers paid 40.4 percent of the total income taxes collected by the federal government. This is the highest percentage in modern history. By contrast, the top 1 percent paid 24.8 percent of the income tax burden in 1987, the year following the 1986 tax reform act.

    Remarkably, the share of the tax burden borne by the top 1 percent now exceeds the share paid by the bottom 95 percent of taxpayers combined. In 2007, the bottom 95 percent paid 39.4 percent of the income tax burden. This is down from the 58 percent of the total income tax burden they paid twenty years ago.

    To put this in perspective, the top 1 percent is comprised of just 1.4 million taxpayers and they pay a larger share of the income tax burden now than the bottom 134 million taxpayers combined.

    Some in Washington say the tax system is still not progressive enough. However, the recent IRS data bolsters the findings of an OECD study released last year showing that the U.S.—not France or Sweden—has the most progressive income tax system among OECD nations. We rely more heavily on the top 10 percent of taxpayers than does any nation and our poor people have the lowest tax burden of those in any nation.

    We are definitely overdue for some honesty in the debate over the progressivity of the nation's tax burden before lawmakers enact any new taxes to pay for expanded health care.
     
  2. ozzmdj
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    ozzmdj Senior Member

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    The Statist is taught to divide people into class's......and the ignorant fall for it.
     
  3. PeterS
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    PeterS Active Member

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    Over due for some honesty? Well if we are being honest then aren't income taxes paid based on income and since there was no income tax increase in 2007 then the only way for taxes on one group to increase is if income for that group increased. Exactly what is the problem? if the top 1% didn't want to pay more taxes then maybe they should have given their employees a raise. That would have really taught everyone a lesson huh!
     
  4. editec
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    editec Mr. Forgot-it-All

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    Of course the superwealthy pay more taxes than the rest of us.

    They're making more money than the rest of us combined, too.

    The solution to that problem is obvious but naturally the superwealthy are happy with things as they are.

    Very happy...and very very rich, too..
     
  5. midcan5
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    midcan5 liberal / progressive

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    Is Andrew a real person? When I grew up the values we were taught were to share, if the top 1% can pay this much of the taxes is there a need to cry for them. Andrew, if you are serious create a fund for the rich, a sort of opposite Christianity. Take from the poor and give to the rich. I'm sure they'll thank you.

    The rich get rich because of their merit.
    The Conservative Nanny State
    UBI and the Flat Tax

    "The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness." John Kenneth Galbraith
     
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  6. editec
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    editec Mr. Forgot-it-All

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    The division of the classes is the inevitable outcome of the systems we have in place.

    Recognizing that laws and policies effect those classes differently is nothing more than understanding reality, OZZ.

    When, for example, people start complaining that the rich pay a huge share of the taxes overall, does that make them ignorant, or merely well informed?

    Class differences exist.

    Denying that they exist is silly.
     
  7. WillowTree
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    WillowTree Diamond Member

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    1.4 million pay more than 134 million combined



    I'd say they pay more than their fair share.
     
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  8. Old Rocks
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    Old Rocks Diamond Member

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    I would say that they recieve far more than their fair share of the nations wealth. And if we cannot achieve a fairer distribution of the wealth in our current system, then we should use taxes to acheive that distribution. And if we get more people that believe that voting, that is exactly what we will do.
     
  9. Old Rocks
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    Old Rocks Diamond Member

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    OK, here is the honesty you desire. All too many people in that 1% are thieves. They did not earn that money, they stole it. We have seen that create the present economic debacle, people recieving huge amounts for failure, while those that are doing their jobs well get pink slips as the factories close down due to the incompetance of the very wealthy. Then we give the incompetants multi-million dollar golden parachutes.

    Yes, it is time to tax the hell out of these people. Create a business climate where failure is punished and success rewarded. Redistribute the wealth to those that are actually creating the wealth.
     
  10. WillowTree
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    WillowTree Diamond Member

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    translation! we are lazy azzed people who would rather steal from others than earn our own.. parasites.
     

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