Taxing the 227,202 with Taxable income over $1M WOULD NOT cut DEFICIT by 48%!

Discussion in 'Politics' started by healthmyths, Sep 30, 2012.

  1. healthmyths
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    healthmyths Gold Member Supporting Member

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    REaL FACTS from the IRS.......
    FROM THE IRS tax returns:
    "Table 1.1 Selected Income and Tax Items, by Size and Accumulated Size of Adjusted Gross Income, Tax Year 2009"
    SOI Tax Stats - Individual Statistical Tables by Size of Adjusted Gross Income

    There were 227,202 tax returns for incomes over $1 million in adjusted gross income

    $486,776,995,000 -- This was theTotal taxable Income for those making $1 million or more!i
    $123,709,600,000 -- They paid in Total Taxes in 2009 or 25.41%

    NOW YOU idiot you suggest they do like FRANCE and PAY 75% of their taxable income right???
    $365,082,746,000 is the total taxes of 75% of their $486 billion reported.... total RIGHT??

    75% times total adjustable taxable income of $486.7 billion is $365,082,746,00 AGREE???

    $123.7 billion is what THE already paid in 2009 taxes!
    Subtract that $123.7 billion THEY PAID from the tax of 75% or $365 billion and that is an additional $241 billion !
    SINCE you can't do like OBAMACARE count it twice.. they already paid $123.7 billion and now you want another $241 billion!

    So it is ONLY $241 billion is the additional amount that would be added if the tax was 75%

    Obama Deficits FY 2012*: $1,327 billion
    US Federal Deficit by Year 2007_2017 - Charts Analysis

    So divide $1.3 trillion by $241 billion is ONLY 18% NOT 48%
    SORRY BUT FACTS get in the way of hyperbole!

    FACTS GET them yourself simply download this file:
    SOI Tax Stats - Individual Statistical Tables by Size of Adjusted Gross Income
     
    Last edited: Sep 30, 2012
  2. healthmyths
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    healthmyths Gold Member Supporting Member

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    See folks the problem with Obama and supporters is THEY CAN'T do simple math!
    $241 billion is the additional amount of taxes if those over $1 million were taxed at 75% NOT 48% as the idiot who earlier had a thread saying it would pay 48% of the annual deficit!

    But these math challenged Obama supporters are CHALLENGED on even simple math like:
    subtract 10 million NOT citizens, 14 million covered by Medicaid and 18 million that are paying their OWN health expenses and you get 8 million UNINSURED
    NOT 50 million! But this number was used and believed by MILLIONS including conservatives!
    WHY? Why was destroying health care as we know it to cover really 8 million NOT 50 million???
     
  3. martybegan
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    martybegan Gold Member

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    Wait, dont you know progressives consider anyone who makes over $250k "millionaires"?
     
  4. auditor0007
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    auditor0007 Gold Member

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    I haven't heard anyone say anything about raising taxes on top income earners to 75%. Where do you come up with such nonsense? What has been discussed is letting the rates go back to the levels they were at under Clinton, which is only a 11% increase going from 35% to 39%, and that percentage is only on income over $388,350. If we allow the Bush tax cuts to completely expire for everyone, then we shall see a rise in revenue of about 10 to 15 percent total. Of course this is not enough to wipe out the deficit, and nobody really has suggested it would, yet you throw stupid shit like this out there all the time.

    What we should be raising is the Capital Gains rate, back to where it was under Reagan. While I don't agree with Reagan on the idea that the Capital Gains rate should be the same as the income tax rate, there is no doubt that the Capital Gains rate is currently much too low.
     
  5. healthmyths
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    healthmyths Gold Member Supporting Member

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    Read this thread on this board!!!

    http://www.usmessageboard.com/politics/250652-france-seeks-top-75-income-tax-one-would-reduce-us-defitict-48-a.html
     
  6. healthmyths
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    healthmyths Gold Member Supporting Member

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    The stupid "shit" is NO ONE seems to read the FACTS as put out by the IRS!! Dum...f...!

    The original poster OP of this THREAD http://www.usmessageboard.com/polit...me-tax-one-would-reduce-us-defitict-48-a.html

    Couldn't as I pointed out do simple math much less get their facts straight!
    GO go the sources I always supply and please apologize for saying I was saying "stupid shit" when I was retorting idiocies by others and YOU never read it!
    Think before you iterate!
     
  7. healthmyths
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    healthmyths Gold Member Supporting Member

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    YOu know "dumb..f..."... What we should do is REDUCE repatriated overshore capital with a 5% tax!
    Then use that 5% of the $1 trillion that would come back and use to create Venture Capital Insurance Corporation ˙© a for profit insurance company that would use the $50 billion in the one time tax to fund a reserve! This reserve would then be used to insure ANY new venture that applied for VCIC coverage up to $20,000 per SMALL investor. The small investor's principal would be insured by VCIC and then the capital raised would pay a premium for the insurance!

    In this way any future Venture capital small investor's principal is INSURED by the VCIC!
    As the VCIC insured venture becomes secure, small investor can sell stock BUT the VCIC insurance drops!
    Small investor wins without ANY risks. VCIC reserve fund will be infrequently tapped because for ever 20 investments 10 may be losers fund tapped.. but the winning 10 will be huge successes.
     
  8. Murf76
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    Murf76 Senior Member

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    If the rhetoric Obama has been spouting was implemented, all he'd be getting is 28 billion annually. That's NOTHING. Just the interest on our debt is approaching a half-trillion and will be a full trillion by the end of the decade on our current path. 28 billion isn't a drop in the bucket. THAT's why he's being accused of "class warfare" and rightly so, because it's POINTLESS politics.
     
  9. Katzndogz
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    Katzndogz Diamond Member

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    Reagan lowered taxes including capital gains taxes. You'd not know that if all you read is Think Progress.

    Economy in The Reagan Era
     
  10. auditor0007
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    auditor0007 Gold Member

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    What does France have to do with it? Your OP wasn't about France and their taxes. WTF?
     

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