Total income before deductions of the top 2%

Discussion in 'Politics' started by mnbasketball, Apr 18, 2011.

  1. mnbasketball
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    mnbasketball Member

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    Does anyone know where to find the total income of the top 2% before they deduct what they can?
    Then I would like to know exactly what portion of that income is hidden in deductions of all types, or otherwise the total amount of income that is taxed by the tax code for the top 2%.

    Now if we can figure this out then we could have a good guess of what they really pay.

    what portion of their income comes from capitol gains and div's is also another big factor.

    Where would one get this information? or is it even available?
     
  2. Finnguy
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    Finnguy Social Democrat

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    God knows they deduct a lot.
     
  3. Midnight Marauder
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    Midnight Marauder BANNED

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    We should address the gluttony and greed in Washington first. The bloated, inefficient and wasteful PIG that is our government, has enough money.

    It's the spending, stupid.
     
  4. Midnight Marauder
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  5. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    Here's a reality check for the economically challenged:

    Internal Revenue Service data tell why.

    Over an adjusted gross income threshold of $200,000 — lower than the $250,000 that signifies "rich" to the Obama administration — total taxable income from all returns was $2.061 trillion in 2008 (the latest year available). This income generated $531 billion in taxes.

    Let's say the top rate had been the Clinton era 39.6% instead of 35%, and the capital gains rate was back to 20%. That would have raised the 2008 tax yield by about $50 billion. Even assuming 2010 incomes are higher than in the recession year of 2008, these rate hikes don't add up to serious deficit relief.


    Soak Rich, Bust The Budget - Investors.com
     
  6. Nic_Driver
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    Nic_Driver Active Member

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    I'm curious why they are not taxed when they're paid like the rest of us, this gives them the luxury of hiding money. We should change not just the tax rate of the wealthy but the rules surrounding collection and deductions available to them.
     
  7. Midnight Marauder
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    Midnight Marauder BANNED

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    Of course, typical of all freeloaders.... You come here to ask your question - getting others to do your research for you - instead of using your computer to do the research yourself.

    Stupid, lazy and listless, and hapless.
     
  8. Midnight Marauder
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    Midnight Marauder BANNED

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    Link?
     
  9. mnbasketball
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    mnbasketball Member

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    well Midnight your link don't work, just like your policies of the right don't work.

    The truth is that almost as much income that the rich pay taxes on at the highest level never sees a cent of taxes or is at way reduced rates.

    Not to mention they can hide income in overseas accounts, take large deductions for interest on homes and deduct large sums of money in retirement programs that most middle class don't have access too.

    I would suggest that close to 40/50% of money made by the top 2% is not included in their taxable income.

    On total income over the poverty level deductions, the top 2% pay like 18% of their total income in fed tax and around 22% in all taxes. where people making 50,000 will end up paying close to 40% in all taxes on income over the poverty level deductions.

    The rich make more, pay less and want to pay less taxes in order to make more money.
     
  10. Midnight Marauder
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    Midnight Marauder BANNED

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    The link works fine.... Try clicking on it.

    I don't have "policies of the right" since, I am not of the right. You don't pay attention, that's your entire problem.

    And you're just a one-issue nonsensical spammer essentially. All of your threads are on the same topic.
     

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