Top 3% of U.S. Taxpayers Paid Majority of Income Taxes in 2016

[Winston]

Seems like they are paying their fair share to me

-Geaux
--------------------

(Bloomberg) -- Individual income taxes are the federal government’s single biggest revenue source. In fiscal year 2018, which ended Sept. 30, the individual income tax is expected to bring in roughly $1.7 trillion, or about half of all federal revenues, according to the Congressional Budget Office.

If past statistics can offer any guidance, in 2016, $1.44 trillion income taxes were paid by 140.9 million taxpayers reporting a total of $10.2 trillion in adjusted gross income, according to data recently released by the Internal Revenue Services.

Bloomberg looked into the 2016 individual returns data in detail for some additional insights illustrated in the charts below:

• The top 1 percent paid a greater share of individual income taxes (37.3 percent) than the bottom 90 percent combined (30.5 percent).
• The top 50 percent of all taxpayers paid 97 percent of total individual income taxes.

• In other words, the bottom 50 percent paid 3 percent. Which small percentile of tax payers also paid 3 percent or more? You might have guessed it. It is the top 0.001%, or about 1,400 taxpayers. That group alone paid 3.25 percent of all income taxes. In 2001, the bottom 50 percent paid nearly 5 percent whereas the top 0.001 percent of filers paid 2.3 percent of income taxes.

• The individual income tax system is designed to be progressive – those with higher incomes pay at higher rates. While the indentation, or the reduction in the steepness of the "progressivity" curve, is visible at the highest levels.

Top 3% of U.S. Taxpayers Paid Majority of Income Taxes in 2016

Yet the rich get richer...

Income gap is continuing to grow.. Trump is just increasing that..

“Income gap”
WTF...why are you so envious of your neighbor who’s done better than you? Pull your head from your ass and go get yours. Simple shit.

My college roommate received more from his trust fund every year than you will make in your lifetime. How did he go get that?

 

[danielpalos]

Why are we losing money on border policy? Only lousy capitalists lose money on public policies; even American Exceptionalism, can't cover that.

Not everyone coming here wants to become a citizen; they can be tourists. Tourism is the first, second, or third largest employer in twenty-nine States. All foreign nationals in the US should have a federal id. A fee or a fine can make that happen in a market friendly manner and generate revenue on a yearly basis.

 

[Jimmy_Chitwood]

Same bullshit thread is posted 2-3 times a year

There are many taxes. Federal Income tax is but one, a very progressive one, which makes it an attractive cherry pick for those trying to argue that the rich have it too tough in America

Here is the no-bullshit view of total effective tax burden in this coutry:

No source?


Do you ever think that the tax code might be being used to affect how people utilize their wealth?

Incentives for certain actions?

Otherwise you have no control over what they do with their money.

 

[HereWeGoAgain]

I and the Wife earned the going rate for our labor.
You have a problem with that?

nothing at all. capitalism has a natural rate of unemployment for the benefit of those who use Capital to work instead of a work ethic from the Age of Iron. that is unethical and unproductive in our political economy.

So you hate the machining industry and the banking industry....

it is not about Hate; but about morals and a work ethic from the Age of Iron; either you are moral and "earn it from the sweat of your brow," or you don't and are not, that moral.

The Wife started as a teller and ended up a CAO over an entire banking chain.I started as a delivery driver,deburr,floor sweep and worked my way up to inspection and finally to a master machinist who made parts for the NASA shuttle program and the F-22 prototype team.
....and you?

i resort to the fewest fallacies in my arguments; even the One Percent, fail.

So you're a failure in life...as expected.

 

[HereWeGoAgain]

I and the Wife earned the going rate for our labor.
You have a problem with that?

nothing at all. capitalism has a natural rate of unemployment for the benefit of those who use Capital to work instead of a work ethic from the Age of Iron. that is unethical and unproductive in our political economy.

So you hate the machining industry and the banking industry....

it is not about Hate; but about morals and a work ethic from the Age of Iron; either you are moral and "earn it from the sweat of your brow," or you don't and are not, that moral.

The Wife started as a teller and ended up a CAO over an entire banking chain.I started as a delivery driver,deburr,floor sweep and worked my way up to inspection and finally to a master machinist who made parts for the NASA shuttle program and the F-22 prototype team.
....and you?

i resort to the fewest fallacies in my arguments; even the One Percent, fail.

Meh.....it appears the 3% are more successful.

 

[jc456]

The top 1% own 40% of the wealth, so the top tax rate needs to pay most of the Federal taxes, RAISE THE TOP RATE!!
Washington Post: Breaking News, World, US, DC News & Analysis

The top 1% CREATED their own wealth and pay your way....CREATE your own wealth and pay your own way. You’re a big boy.

Bullshit! Most of them inherited their wealth. Many of them are benefiting from the Corporate tax cuts as stocks rise. The Budget Deficit, that pays for the military to protect their wealth, is $900b this year. The chart below clearly shows that the top tax rate can increase to cover the Deficit since they received nearly all of the financial gains. They may have made those financial gains by moving the US factories overseas to take advantage of the low wages and lax environmental laws. We don't want the US to become Mexico with 99% peons and 1% super-rich.

View attachment 222758

Haha...”most of them inherited their wealth”.....BULLSHIT!
Sounds like you’re after a little dose of commie-lite...no?
Do you ever listen to yourself?
“Excuse me neighbor, you’re more successful than I am and you’ve done better for yourself than I have so I’m gonna need you to pay my way… Oh and by the way, my buddy here Gustavo, he’s from Mexico and I’m going to need you to pay his way as well.”

The scary thing is, the beggars don’t even realize how fucking stupid that sounds.

Very few people are "self-made" millionaires, please see the following link, its factual not bullshit:
Wealth, Inheritance and Social Mobility

1. Inheritance Matters. An estimated 35 to 45 percent of wealth is inherited rather than self-made, according to Kopczuk’s review of the literature.
2. Inheritance Could Hurt Mobility, especially when combined with the other advantages that wealthy parents provide their children (such as more engaged parenting, better schooling, help with paying for college or investing in a home, and all kinds of social capital or useful connections). As Richard Reeves argues, wealth helps to create a “glass floor”, below which children in privileged families cannot fall.

From the IRS site - I don't see any "commie-lite"; everyone pays, the top rates are way too low to fund the government 161,000/600,000 = 27% while the median family pays 8,907/77,400 = 12% but with a lot less money for their family.

So the Federal Budget is $3.9T with only $3.0T of revenue, we borrow about $900b a year, we need to cut spending and raise revenue, or the government becomes Greece, and we all lose. What sounds stupid is continued borrowing, and the wealthy had better stop whining...it won't affect the lifestyles, of the rich and obnoxious.

So the question is, how many times do you want people to pay taxes on the same money?

 

[busybee01]

Same bullshit thread is posted 2-3 times a year

There are many taxes. Federal Income tax is but one, a very progressive one, which makes it an attractive cherry pick for those trying to argue that the rich have it too tough in America

Here is the no-bullshit view of total effective tax burden in this coutry:

And you spout the same bullshit, it's not our fault that blue States vote against their own financial interest and vote for democrats and high state and local taxes

This may elude you but 1 reason why blue states pay higher state and local taxes is because they have higher incomes. Red states dominate when you are talking about the states with the lowest per capita income.

 

[busybee01]

Same bullshit thread is posted 2-3 times a year

There are many taxes. Federal Income tax is but one, a very progressive one, which makes it an attractive cherry pick for those trying to argue that the rich have it too tough in America

Here is the no-bullshit view of total effective tax burden in this coutry:

And you spout the same bullshit, it's not our fault that blue States vote against their own financial interest and vote for democrats and high state and local taxes

What’s the bullshit?

Don’t want to count state and local taxes? Fine, there are the blue lines for all Federal taxes.

Uhm yea because redstates are not stupid enough to vote for 100 grand a year dog catchers and unstainable Union pension programs , in fact Diane wants the rest of the country to bail them out because of their high Democrat taxes..

Red states have the same problems with pension plans that blue states have. Politicians are the same in red and blue states. In red states, they have kept salaries of public employees low and made big promises in their pension plans to compensate. The question with pretty much every state red or blue is how much trouble they are in.

 

[jc456]

Same bullshit thread is posted 2-3 times a year

There are many taxes. Federal Income tax is but one, a very progressive one, which makes it an attractive cherry pick for those trying to argue that the rich have it too tough in America

Here is the no-bullshit view of total effective tax burden in this coutry:

And you spout the same bullshit, it's not our fault that blue States vote against their own financial interest and vote for democrats and high state and local taxes

This may elude you but 1 reason why blue states pay higher state and local taxes is because they have higher incomes. Red states dominate when you are talking about the states with the lowest per capita income.

Bullshit. Pensions and fking unions

 

[jc456]

Same bullshit thread is posted 2-3 times a year

There are many taxes. Federal Income tax is but one, a very progressive one, which makes it an attractive cherry pick for those trying to argue that the rich have it too tough in America

Here is the no-bullshit view of total effective tax burden in this coutry:

And you spout the same bullshit, it's not our fault that blue States vote against their own financial interest and vote for democrats and high state and local taxes

What’s the bullshit?

Don’t want to count state and local taxes? Fine, there are the blue lines for all Federal taxes.

Uhm yea because redstates are not stupid enough to vote for 100 grand a year dog catchers and unstainable Union pension programs , in fact Diane wants the rest of the country to bail them out because of their high Democrat taxes..

Red states have the same problems with pension plans that blue states have. Politicians are the same in red and blue states. In red states, they have kept salaries of public employees low and made big promises in their pension plans to compensate. The question with pretty much every state red or blue is how much trouble they are in.

Bullshit. I’ve lived Texas and Illinois. Fk you

 

[BluesLegend]

I'm in the 3% I pay more in taxes than most people earn in a year. Don't tell me I'm not paying my 'fair' share I pay my share and your share.

 

[AntonToo]

Same bullshit thread is posted 2-3 times a year

There are many taxes. Federal Income tax is but one, a very progressive one, which makes it an attractive cherry pick for those trying to argue that the rich have it too tough in America

Here is the no-bullshit view of total effective tax burden in this coutry:

No source?
Do you ever think that the tax code might be being used to affect how people utilize their wealth?
Incentives for certain actions?
Otherwise you have no control over what they do with their money.

The one tax graph you really need to know

The rest of your post has nothing to do with what you are replying to. Not interested in your side-ranting.

 

[BrokeLoser]

Seems like they are paying their fair share to me

-Geaux
--------------------

(Bloomberg) -- Individual income taxes are the federal government’s single biggest revenue source. In fiscal year 2018, which ended Sept. 30, the individual income tax is expected to bring in roughly $1.7 trillion, or about half of all federal revenues, according to the Congressional Budget Office.

If past statistics can offer any guidance, in 2016, $1.44 trillion income taxes were paid by 140.9 million taxpayers reporting a total of $10.2 trillion in adjusted gross income, according to data recently released by the Internal Revenue Services.

Bloomberg looked into the 2016 individual returns data in detail for some additional insights illustrated in the charts below:

• The top 1 percent paid a greater share of individual income taxes (37.3 percent) than the bottom 90 percent combined (30.5 percent).
• The top 50 percent of all taxpayers paid 97 percent of total individual income taxes.

• In other words, the bottom 50 percent paid 3 percent. Which small percentile of tax payers also paid 3 percent or more? You might have guessed it. It is the top 0.001%, or about 1,400 taxpayers. That group alone paid 3.25 percent of all income taxes. In 2001, the bottom 50 percent paid nearly 5 percent whereas the top 0.001 percent of filers paid 2.3 percent of income taxes.

• The individual income tax system is designed to be progressive – those with higher incomes pay at higher rates. While the indentation, or the reduction in the steepness of the "progressivity" curve, is visible at the highest levels.

Top 3% of U.S. Taxpayers Paid Majority of Income Taxes in 2016

Yet the rich get richer...

Income gap is continuing to grow.. Trump is just increasing that..

“Income gap”
WTF...why are you so envious of your neighbor who’s done better than you? Pull your head from your ass and go get yours. Simple shit.

My college roommate received more from his trust fund every year than you will make in your lifetime. How did he go get that?

So what....AWESOME, good on him.
Why do you deserve part of his or his family’s wealth?
Be careful...Your envy will destroy you.

 

[Sun Devil 92]

And yet somehow they manage to get by.

That is your criteria for a good tax system.

 

[Winston]

Seems like they are paying their fair share to me

-Geaux
--------------------

(Bloomberg) -- Individual income taxes are the federal government’s single biggest revenue source. In fiscal year 2018, which ended Sept. 30, the individual income tax is expected to bring in roughly $1.7 trillion, or about half of all federal revenues, according to the Congressional Budget Office.

If past statistics can offer any guidance, in 2016, $1.44 trillion income taxes were paid by 140.9 million taxpayers reporting a total of $10.2 trillion in adjusted gross income, according to data recently released by the Internal Revenue Services.

Bloomberg looked into the 2016 individual returns data in detail for some additional insights illustrated in the charts below:

• The top 1 percent paid a greater share of individual income taxes (37.3 percent) than the bottom 90 percent combined (30.5 percent).
• The top 50 percent of all taxpayers paid 97 percent of total individual income taxes.

• In other words, the bottom 50 percent paid 3 percent. Which small percentile of tax payers also paid 3 percent or more? You might have guessed it. It is the top 0.001%, or about 1,400 taxpayers. That group alone paid 3.25 percent of all income taxes. In 2001, the bottom 50 percent paid nearly 5 percent whereas the top 0.001 percent of filers paid 2.3 percent of income taxes.

• The individual income tax system is designed to be progressive – those with higher incomes pay at higher rates. While the indentation, or the reduction in the steepness of the "progressivity" curve, is visible at the highest levels.

Top 3% of U.S. Taxpayers Paid Majority of Income Taxes in 2016

Yet the rich get richer...

Income gap is continuing to grow.. Trump is just increasing that..

“Income gap”
WTF...why are you so envious of your neighbor who’s done better than you? Pull your head from your ass and go get yours. Simple shit.

My college roommate received more from his trust fund every year than you will make in your lifetime. How did he go get that?

So what....AWESOME, good on him.
Why do you deserve part of his or his family’s wealth?
Be careful...Your envy will destroy you.

Seems like they are paying their fair share to me

-Geaux
--------------------

(Bloomberg) -- Individual income taxes are the federal government’s single biggest revenue source. In fiscal year 2018, which ended Sept. 30, the individual income tax is expected to bring in roughly $1.7 trillion, or about half of all federal revenues, according to the Congressional Budget Office.

If past statistics can offer any guidance, in 2016, $1.44 trillion income taxes were paid by 140.9 million taxpayers reporting a total of $10.2 trillion in adjusted gross income, according to data recently released by the Internal Revenue Services.

Bloomberg looked into the 2016 individual returns data in detail for some additional insights illustrated in the charts below:

• The top 1 percent paid a greater share of individual income taxes (37.3 percent) than the bottom 90 percent combined (30.5 percent).
• The top 50 percent of all taxpayers paid 97 percent of total individual income taxes.

• In other words, the bottom 50 percent paid 3 percent. Which small percentile of tax payers also paid 3 percent or more? You might have guessed it. It is the top 0.001%, or about 1,400 taxpayers. That group alone paid 3.25 percent of all income taxes. In 2001, the bottom 50 percent paid nearly 5 percent whereas the top 0.001 percent of filers paid 2.3 percent of income taxes.

• The individual income tax system is designed to be progressive – those with higher incomes pay at higher rates. While the indentation, or the reduction in the steepness of the "progressivity" curve, is visible at the highest levels.

Top 3% of U.S. Taxpayers Paid Majority of Income Taxes in 2016

Yet the rich get richer...

Income gap is continuing to grow.. Trump is just increasing that..

“Income gap”
WTF...why are you so envious of your neighbor who’s done better than you? Pull your head from your ass and go get yours. Simple shit.

My college roommate received more from his trust fund every year than you will make in your lifetime. How did he go get that?

So what....AWESOME, good on him.
Why do you deserve part of his or his family’s wealth?
Be careful...Your envy will destroy you.

The question is not what I did to deserve it. It is what did he do to deserve it.

 

[BrokeLoser]

29 million filthy, low iQ, illiterate wetbacks that can’t speak the native language and have zero communication skills fuck shit all up don’t they?

No you stupid racist shit. Those "wetbacks that can't speak the native language" pay billions, yes BILLIONS with a B, in Social Security taxes and they will never collect a dime. Better yet, you never ever hear them bitch about it. In my book, that makes them more of a "real American" than you can ever hope to be.

Majority use stolen fake SS numbers

-Geaux

Persactly. So they pay the Social Security tax, know they will get nothing out of it, and never bitch a bit. We need more people like that, not less.

No we don't need more law breakers... That's why they are illegals

-Geaux

What part of "all men" and "pursuit of happiness" do you not understand?

What part of federal law and the U.S. Constitution do you not understand?

 

[BrokeLoser]

Seems like they are paying their fair share to me

-Geaux
--------------------

(Bloomberg) -- Individual income taxes are the federal government’s single biggest revenue source. In fiscal year 2018, which ended Sept. 30, the individual income tax is expected to bring in roughly $1.7 trillion, or about half of all federal revenues, according to the Congressional Budget Office.

If past statistics can offer any guidance, in 2016, $1.44 trillion income taxes were paid by 140.9 million taxpayers reporting a total of $10.2 trillion in adjusted gross income, according to data recently released by the Internal Revenue Services.

Bloomberg looked into the 2016 individual returns data in detail for some additional insights illustrated in the charts below:

• The top 1 percent paid a greater share of individual income taxes (37.3 percent) than the bottom 90 percent combined (30.5 percent).
• The top 50 percent of all taxpayers paid 97 percent of total individual income taxes.

• In other words, the bottom 50 percent paid 3 percent. Which small percentile of tax payers also paid 3 percent or more? You might have guessed it. It is the top 0.001%, or about 1,400 taxpayers. That group alone paid 3.25 percent of all income taxes. In 2001, the bottom 50 percent paid nearly 5 percent whereas the top 0.001 percent of filers paid 2.3 percent of income taxes.

• The individual income tax system is designed to be progressive – those with higher incomes pay at higher rates. While the indentation, or the reduction in the steepness of the "progressivity" curve, is visible at the highest levels.

Top 3% of U.S. Taxpayers Paid Majority of Income Taxes in 2016

Yet the rich get richer...

Income gap is continuing to grow.. Trump is just increasing that..

“Income gap”
WTF...why are you so envious of your neighbor who’s done better than you? Pull your head from your ass and go get yours. Simple shit.

My college roommate received more from his trust fund every year than you will make in your lifetime. How did he go get that?

So what....AWESOME, good on him.
Why do you deserve part of his or his family’s wealth?
Be careful...Your envy will destroy you.

Seems like they are paying their fair share to me

-Geaux
--------------------

(Bloomberg) -- Individual income taxes are the federal government’s single biggest revenue source. In fiscal year 2018, which ended Sept. 30, the individual income tax is expected to bring in roughly $1.7 trillion, or about half of all federal revenues, according to the Congressional Budget Office.

If past statistics can offer any guidance, in 2016, $1.44 trillion income taxes were paid by 140.9 million taxpayers reporting a total of $10.2 trillion in adjusted gross income, according to data recently released by the Internal Revenue Services.

Bloomberg looked into the 2016 individual returns data in detail for some additional insights illustrated in the charts below:

• The top 1 percent paid a greater share of individual income taxes (37.3 percent) than the bottom 90 percent combined (30.5 percent).
• The top 50 percent of all taxpayers paid 97 percent of total individual income taxes.

• In other words, the bottom 50 percent paid 3 percent. Which small percentile of tax payers also paid 3 percent or more? You might have guessed it. It is the top 0.001%, or about 1,400 taxpayers. That group alone paid 3.25 percent of all income taxes. In 2001, the bottom 50 percent paid nearly 5 percent whereas the top 0.001 percent of filers paid 2.3 percent of income taxes.

• The individual income tax system is designed to be progressive – those with higher incomes pay at higher rates. While the indentation, or the reduction in the steepness of the "progressivity" curve, is visible at the highest levels.

Top 3% of U.S. Taxpayers Paid Majority of Income Taxes in 2016

Yet the rich get richer...

Income gap is continuing to grow.. Trump is just increasing that..

“Income gap”
WTF...why are you so envious of your neighbor who’s done better than you? Pull your head from your ass and go get yours. Simple shit.

My college roommate received more from his trust fund every year than you will make in your lifetime. How did he go get that?

So what....AWESOME, good on him.
Why do you deserve part of his or his family’s wealth?
Be careful...Your envy will destroy you.

The question is not what I did to deserve it. It is what did he do to deserve it.

His bloodline kicked ass...he’s heir to their success. This is pretty fucking simple...stop begging bud, do something productive.

 

[Jimmy_Chitwood]

Same bullshit thread is posted 2-3 times a year

There are many taxes. Federal Income tax is but one, a very progressive one, which makes it an attractive cherry pick for those trying to argue that the rich have it too tough in America

Here is the no-bullshit view of total effective tax burden in this coutry:

No source?
Do you ever think that the tax code might be being used to affect how people utilize their wealth?
Incentives for certain actions?
Otherwise you have no control over what they do with their money.

The one tax graph you really need to know

The rest of your post has nothing to do with what you are replying to. Not interested in your side-ranting.

Yes it does cupcake

You are stating that State taxes show the wealthy pay less is State taxes and I just told you why darling.

 

[my2¢]

If past statistics can offer any guidance, in 2016, $1.44 trillion income taxes were paid by 140.9 million taxpayers reporting a total of $10.2 trillion in adjusted gross income, according to data recently released by the Internal Revenue Services.

Which is why it is better to have wealth than income.

 

[danielpalos]

Same bullshit thread is posted 2-3 times a year

There are many taxes. Federal Income tax is but one, a very progressive one, which makes it an attractive cherry pick for those trying to argue that the rich have it too tough in America

Here is the no-bullshit view of total effective tax burden in this coutry:

No source?


Do you ever think that the tax code might be being used to affect how people utilize their wealth?

Incentives for certain actions?

Otherwise you have no control over what they do with their money.

taxes should be covering spending.