Why is it shocking that the top 1% of Americans pay 40% of the income tax?

Discussion in 'Politics' started by theDoctorisIn, Mar 4, 2011.

  1. theDoctorisIn
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    theDoctorisIn Senior Mod Staff Member Senior USMB Moderator

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    Conservatives on this site (and others) love to quote the statistic that says 40% of the income tax revenues come from the richest 1% of Americans. This statistic is true.

    What these same posters ignore is that the top 1% of Americans control 40% of America's wealth. Seems to me that they pay exactly the percentage they should.
     
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  2. Tank
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    Tank Gold Member

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    Lets pay a flat tax, to treat all equal.
     
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  3. Iowa10000
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    Iowa10000 BANNED

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    They will stop when they get to the finish line. The finish line is when the top 5% owns 100% of everything and there will be nothing left to argue over. Right now they own 84% of everything so it's only a matter of time. But what I can't wait to see is all those folks in the next 15% will be crying when they find out that their share is also gone to that 5% at the top.
    The bottom 50% already understand that owing .03% of america does allows them to do, survive.

    It just really makes me step back and look at what is happening, as I used to wonder what will be enough for these greedy people, but now understand that it is everything. As they keep making more and owning more and now hanging onto more as a family with the assult on Inheritance tax they are in the process of setting up a hiarchy in the usa that has never been thought of before.
     
    Last edited: Mar 4, 2011
  4. Iowa10000
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    Iowa10000 BANNED

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    we would all like that idea as long as we get rid of all the payroll taxes and all the state and sales taxes and fees that are put on the backs of those who are least able to pay them.

    But income is income and if you make it working with your hands or on wall street in the stock markets or saving it in banks, it is income and need to be treated the same.

    And what you own for your life is yours, but thats as far as it goes, it doesn't mean that you can give it away to family to make sure they will have it all to work with. Give it to charity or forever lose it when one or both parties leave this crule world.
     
    Last edited: Mar 4, 2011
  5. martybegan
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    martybegan Gold Member

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    You last point is one of the dumbest ideas I have ever heard. So basically all you are working for your whole life is to give away what you make or see it taken by the government?

    There is nothing wrong with people leaving something for thier children to inherit.
     
  6. asterism
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    asterism Congress != Progress

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    Except taxes are on income, not wealth. Stored wealth has already been taxed once (or twice). The top 1% of income earners pay way more than their corresponding share of total income.
     
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  7. MarcATL
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    MarcATL Gold Member

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    That's not equal by a long shot.

    That's just simple.

    VASTLY different.
     
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  8. asterism
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    asterism Congress != Progress

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  9. Claudette
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    Claudette Gold Member

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    Imagine if that top 1% wasn't there.

    Who do you think would be paying the percentage of taxes that they are now paying?? Keep in mind that the 40-50% who pay nothing now, wouldn't be paying anything in that scenario either.

    Drum roll please. The middle class of course. We would get taxed to death.

    I like those wealthy people. They save me bucko bucks in taxes every year and I could care less how much money they make. Let em keep makin it.
     
  10. Mini 14
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    Mini 14 Senior Member

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    How is it "not equal?"

    Everyone pays 15%, regardless of their income.

    So a wealthy person pays more as their wealth increases.
     

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