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

[Andrew2382]

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.

 

[ozzmdj]

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

 

[PeterS]

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


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.

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!

 

[editec]

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..

 

[midcan5]

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

 

[editec]

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

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.

 

[WillowTree]

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..

1.4 million pay more than 134 million combined



I'd say they pay more than their fair share.

 

[Old Rocks]

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.

 

[Old Rocks]

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.

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.

 

[WillowTree]

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.

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

 

[HUGGY]

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.

And you are in the top one per cent? That is why you are so concerned about the future taxed income of millionaires?

 

[Old Rocks]

Ah, my little idiot, you wouldn't last ten minutes in the type of work I do. And, were hours counted, instead of years, for Social Security, I would have been able to start recieving it a 50.

Willow, the people I am talking about people that have had their pay, and failures, in the headlines for nearly a year now. But you address me, a blue collar maintenance worker, as a parasite. Have you ever worked an 90 hr week in your life? At work that requires both physical and mental effort? I sincerely doubt that from the tone of your posts.

 

[RadiomanATL]

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.

And you are in the top one per cent? That is why you are so concerned about the future taxed income of millionaires?

Theft is theft. Just because someone is not the individual who was stolen from does not mean that they cannot think it wrong.

 

[Big Black Dog]

The tax structure in this country is not fair for anybody - rich, middle class or poor. It's why I favor a national sales tax in lieu of any kind of an income tax. it should also replace State taxes. Under this system, the only time you would pay any kind of a tax is when you spent your money. If you didn't want to pay taxes, then don't spend any money. However, when you did pay your taxes by spending money you would be paying the exact same taxes as anybody else in America was paying. The rich, middle class and the poor would all be equal in the scheme of things and that I think is fair to everybody. Everybody would contribute equally to make this country run and rightfully so.

 

[DiamondDave]

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.

Receive??

Try EARN

 

[chanel]

The 1% is shrinking. And the burden will be put on the 5%. Then it will be the 10%. Then the 50%... It's ok to hate the rich until the govt. decides that anyone who makes over $50,000 is rich. NJ just raised property taxes on people making over $75K. $75K in Mississippi may be rich. Not in Jersey.

We have a subchapter S corporation. Our salary is not over $250K, but our business income is (or was). We have lost half our investments in the stock market. No one is paying our mortgage or our kids' college tuition. But fortunately we know how to live within our means. I'll be damned if I have to pay the bills of my next door neighbor who likes expensive wine and drives a nicer car than us, but doesn't have a pot to piss in.

Redistribution of weath is bullshit. Uber-rich will always find ways to hide their wealth. Our poor people are fat. And small businesses and the middle class will always get stuck with the bill. It's just a matter of how high that bill will be.

 

[Old Rocks]

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.

Receive??

Try EARN

Try honesty. They drive a company into the ground because of their incompetance, thousands of employees are thrown out of work, and then they recieve a golden parachute worth millions of dollars. They earned nothing. They recieved this money because of the incestous relationships among the Boards of Directors in the corperations.

 

[Old Rocks]

The 1% is shrinking. And the burden will be put on the 5%. Then it will be the 10%. Then the 50%... It's ok to hate the rich until the govt. decides that anyone who makes over $50,000 is rich. NJ just raised property taxes on people making over $75K. $75K in Mississippi may be rich. Not in Jersey.

We have a subchapter S corporation. Our salary is not over $250K, but our business income is (or was). We have lost half our investments in the stock market. No one is paying our mortgage or our kids' college tuition. But fortunately we know how to live within our means. I'll be damned if I have to pay the bills of my next door neighbor who likes expensive wine and drives a nicer car than us, but doesn't have a pot to piss in.

Redistribution of weath is bullshit. Uber-rich will always find ways to hide their wealth. Our poor people are fat. And small businesses and the middle class will always get stuck with the bill. It's just a matter of how high that bill will be.

Interesting. Guess I would have been paying more in New Jersey for the last ten years. No, the incomes of the 1% are not shrinking, they are going up, even as the wages of the working man is remaining stagnant, or declining.

If you are a small businessperson, then you are puckering up and kissing the ass of the people that are shitting on you.

 

[HUGGY]

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.

And you are in the top one per cent? That is why you are so concerned about the future taxed income of millionaires?

Theft is theft. Just because someone is not the individual who was stolen from does not mean that they cannot think it wrong.

Ya that's right. Theft is theft. What's that got to do with paying for the privilege to use more of the public domain as most millionaires do protected and insulated from the dangers to wealth exposed in any other country?

Why are you so concerned about the rich? They are not concerned about your welfare.

No one with a lick of sense sees this as theft.

 

[RadiomanATL]

And you are in the top one per cent? That is why you are so concerned about the future taxed income of millionaires?

Theft is theft. Just because someone is not the individual who was stolen from does not mean that they cannot think it wrong.

Ya that's right. Theft is theft. What's that got to do with paying for the privilege to use more of the public domain as most millionaires do protected and insulated from the dangers to wealth exposed in any other country?

Why are you so concerned about the rich? They are not concerned about your welfare.

No one with a lick of sense sees this as theft.

If they are millionares they are already paying more. The argument is that they are pay a disproportionate amount more.

And I'm not concerned about the rich. I'm concerned about fairness.

Nice try at changing the debate and pointless class warfare. Didn't work though.