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

[Winston]

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?

Everyone pays once. What's wrong with that?

yep, so if mom and dad paid once, that's paid once.

If you are referring to the estate tax, the vast majority of the value of estates subject to the estate tax are unrealized capital gains that have NEVER been taxed. I will give you a contemporary example. The Seattle Seahawks were purchased for 194 million dollars and today their estimated worth is 2.58 billion. When was the tax paid on that gain?

 

[AntonToo]

raise the minimum wage until the poor pay enough in taxes.

You are ignorant. $15 minimum wage wot correct the defect. Your socialist posts are always moonbeams

15 minimum wage would in fact reduce federal spending on low income people and increase how much they pay in taxes.

But as always you ignore the fact that products will increase in cost to make up for the loss in income.

I do not ignore common rightwing myths, I address them, again and again and again.

The raise in minimum wage pay will be far greater than fractional inflation it may cause.

Learn that and stop repeating bullshit.

Actually you are incorrect. Economists are split on the idea. ABC News published a report on this as did several business magazines and independent think yanks. Trying to blow this off as a right wing myth is disingenuous at best.

Bullshit.

Economists are not split on the idea. There maybe is a rightwing Dodo bird somewhere out there arguing that increase in minimum wage causes so much inflation as to cancel the first order benefit of increased pay to the workers that recieve it, but there is certainly not a "split".

And by the way, I've never personally seen such a bird among actual economists.

 

[danielpalos]

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?

Everyone pays once. What's wrong with that?

yep, so if mom and dad paid once, that's paid once.

If you are referring to the estate tax, the vast majority of the value of estates subject to the estate tax are unrealized capital gains that have NEVER been taxed. I will give you a contemporary example. The Seattle Seahawks were purchased for 194 million dollars and today their estimated worth is 2.58 billion. When was the tax paid on that gain?

massive government surpluses and savings instead of only debt, is what Good Capitalists should strive for.

 

[jc456]

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?

Everyone pays once. What's wrong with that?

yep, so if mom and dad paid once, that's paid once.

If you are referring to the estate tax, the vast majority of the value of estates subject to the estate tax are unrealized capital gains that have NEVER been taxed. I will give you a contemporary example. The Seattle Seahawks were purchased for 194 million dollars and today their estimated worth is 2.58 billion. When was the tax paid on that gain?

It wouldn't be until it is sold.

 

[jc456]

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?

Everyone pays once. What's wrong with that?

yep, so if mom and dad paid once, that's paid once.

If you are referring to the estate tax, the vast majority of the value of estates subject to the estate tax are unrealized capital gains that have NEVER been taxed. I will give you a contemporary example. The Seattle Seahawks were purchased for 194 million dollars and today their estimated worth is 2.58 billion. When was the tax paid on that gain?

massive government surpluses and savings instead of only debt, is what Good Capitalists should strive for.

tell that to the two parties.

 

[danielpalos]

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

Everyone pays once. What's wrong with that?

yep, so if mom and dad paid once, that's paid once.

If you are referring to the estate tax, the vast majority of the value of estates subject to the estate tax are unrealized capital gains that have NEVER been taxed. I will give you a contemporary example. The Seattle Seahawks were purchased for 194 million dollars and today their estimated worth is 2.58 billion. When was the tax paid on that gain?

massive government surpluses and savings instead of only debt, is what Good Capitalists should strive for.

tell that to the two parties.

we are discussing it in a political forum, in the public domain. I have made some suggestions to my State representative to State Government.

 

[jc456]

Everyone pays once. What's wrong with that?

yep, so if mom and dad paid once, that's paid once.

If you are referring to the estate tax, the vast majority of the value of estates subject to the estate tax are unrealized capital gains that have NEVER been taxed. I will give you a contemporary example. The Seattle Seahawks were purchased for 194 million dollars and today their estimated worth is 2.58 billion. When was the tax paid on that gain?

massive government surpluses and savings instead of only debt, is what Good Capitalists should strive for.

tell that to the two parties.

we are discussing it in a political forum, in the public domain. I have made some suggestions to my State representative to State Government.

So have I. neither party is listening.

 

[danielpalos]

yep, so if mom and dad paid once, that's paid once.

If you are referring to the estate tax, the vast majority of the value of estates subject to the estate tax are unrealized capital gains that have NEVER been taxed. I will give you a contemporary example. The Seattle Seahawks were purchased for 194 million dollars and today their estimated worth is 2.58 billion. When was the tax paid on that gain?

massive government surpluses and savings instead of only debt, is what Good Capitalists should strive for.

tell that to the two parties.

we are discussing it in a political forum, in the public domain. I have made some suggestions to my State representative to State Government.

So have I. neither party is listening.

we may need to appeal to the majority.

 

[jc456]

If you are referring to the estate tax, the vast majority of the value of estates subject to the estate tax are unrealized capital gains that have NEVER been taxed. I will give you a contemporary example. The Seattle Seahawks were purchased for 194 million dollars and today their estimated worth is 2.58 billion. When was the tax paid on that gain?

massive government surpluses and savings instead of only debt, is what Good Capitalists should strive for.

tell that to the two parties.

we are discussing it in a political forum, in the public domain. I have made some suggestions to my State representative to State Government.

So have I. neither party is listening.

we may need to appeal to the majority.

the representation, is not correct in DC. just isn't. It isn't in the states either. I live in Illinois, and Mike Madigan has been in charge of this state for almost thirty years. This state sucks on property taxes. worst in the country, and old mike wants to raise them more. failure is the only option for Madigan.

 

[Winston]

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?

Everyone pays once. What's wrong with that?

yep, so if mom and dad paid once, that's paid once.

If you are referring to the estate tax, the vast majority of the value of estates subject to the estate tax are unrealized capital gains that have NEVER been taxed. I will give you a contemporary example. The Seattle Seahawks were purchased for 194 million dollars and today their estimated worth is 2.58 billion. When was the tax paid on that gain?

It wouldn't be until it is sold.

OK, if it is sold tomorrow how much will the capital gains tax be for the heirs?

 

[danielpalos]

massive government surpluses and savings instead of only debt, is what Good Capitalists should strive for.

tell that to the two parties.

we are discussing it in a political forum, in the public domain. I have made some suggestions to my State representative to State Government.

So have I. neither party is listening.

we may need to appeal to the majority.

the representation, is not correct in DC. just isn't. It isn't in the states either. I live in Illinois, and Mike Madigan has been in charge of this state for almost thirty years. This state sucks on property taxes. worst in the country, and old mike wants to raise them more. failure is the only option for Madigan.

raise the minimum wage to raise taxes and help the poor pay their share.

 

[jc456]

tell that to the two parties.

we are discussing it in a political forum, in the public domain. I have made some suggestions to my State representative to State Government.

So have I. neither party is listening.

we may need to appeal to the majority.

the representation, is not correct in DC. just isn't. It isn't in the states either. I live in Illinois, and Mike Madigan has been in charge of this state for almost thirty years. This state sucks on property taxes. worst in the country, and old mike wants to raise them more. failure is the only option for Madigan.

raise the minimum wage to raise taxes and help the poor pay their share.

that bankrupts the country. you should know that.

 

[g5000]

We have progressive taxes because that is the way our Founder's wanted it. Progressive taxes were one means to prevent the unnatural concentration of wealth in the hands of a few.

Some people hear "progressive" and have a pavlovian response.

Here is Thomas Jefferson (a favorite Founder of small government lovers everywhere):

Another means of silently lessening the inequality of property is to exempt all from taxation below a certain point, and to tax the higher portions of property in geometrical progression as they rise. Whenever there is in any country, uncultivated lands and unemployed poor, it is clear that the laws of property have been so far extended as to violate natural right.

Equality: Thomas Jefferson to James Madison

 

[danielpalos]

we are discussing it in a political forum, in the public domain. I have made some suggestions to my State representative to State Government.

So have I. neither party is listening.

we may need to appeal to the majority.

the representation, is not correct in DC. just isn't. It isn't in the states either. I live in Illinois, and Mike Madigan has been in charge of this state for almost thirty years. This state sucks on property taxes. worst in the country, and old mike wants to raise them more. failure is the only option for Madigan.

raise the minimum wage to raise taxes and help the poor pay their share.

that bankrupts the country. you should know that.

why would anyone but a negative thinking right winger; believe that?

 

[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.

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.

No dumbass, I am not. The only thing I was showing is true tax-burden broken down by income groups.

 

[danielpalos]

We have progressive taxes because that is the way our Founder's wanted it. Progressive taxes were one means to prevent the unnatural concentration of wealth in the hands of a few.

Some people hear "progressive" and have a pavlovian response.

Here is Thomas Jefferson (a favorite Founder of small government lovers everywhere):

Another means of silently lessening the inequality of property is to exempt all from taxation below a certain point, and to tax the higher portions of property in geometrical progression as they rise. Whenever there is in any country, uncultivated lands and unemployed poor, it is clear that the laws of property have been so far extended as to violate natural right.

Equality: Thomas Jefferson to James Madison

The power to provide for the general welfare is general. We should be solving the problems of our Republic by promoting the general welfare.

the right wing is whining about a minimum wage.

 

[g5000]

We have progressive taxes because that is the way our Founder's wanted it. Progressive taxes were one means to prevent the unnatural concentration of wealth in the hands of a few.

Some people hear "progressive" and have a pavlovian response.

Here is Thomas Jefferson (a favorite Founder of small government lovers everywhere):

Another means of silently lessening the inequality of property is to exempt all from taxation below a certain point, and to tax the higher portions of property in geometrical progression as they rise. Whenever there is in any country, uncultivated lands and unemployed poor, it is clear that the laws of property have been so far extended as to violate natural right.

Equality: Thomas Jefferson to James Madison

The power to provide for the general welfare is general. We should be solving the problems of our Republic by promoting the general welfare.

What the hell does that have to do with progressive tax rates!?!

As for solving the problems of our republic, there is no more pressing problem than our debt. That is by far the greatest threat to our continued existence.

 

[danielpalos]

We have progressive taxes because that is the way our Founder's wanted it. Progressive taxes were one means to prevent the unnatural concentration of wealth in the hands of a few.

Some people hear "progressive" and have a pavlovian response.

Here is Thomas Jefferson (a favorite Founder of small government lovers everywhere):

Another means of silently lessening the inequality of property is to exempt all from taxation below a certain point, and to tax the higher portions of property in geometrical progression as they rise. Whenever there is in any country, uncultivated lands and unemployed poor, it is clear that the laws of property have been so far extended as to violate natural right.

Equality: Thomas Jefferson to James Madison

The power to provide for the general welfare is general. We should be solving the problems of our Republic by promoting the general welfare.

What the hell does that have to do with progressive tax rates!?!

As for solving the problems of our republic, there is no more pressing problem than our debt. That is by far the greatest threat to our continued existence.

the right wing is whining about a minimum wage. higher paid labor pays more in taxes and creates more in demand.

 

[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.

tax cut economics only increases the Peoples' debt while You get richer.

Then cut spending, the moochers are sucking up most of that government spending don't saddle me with YOUR problems.

 

[dave p]

You are ignorant. $15 minimum wage wot correct the defect. Your socialist posts are always moonbeams

15 minimum wage would in fact reduce federal spending on low income people and increase how much they pay in taxes.

But as always you ignore the fact that products will increase in cost to make up for the loss in income.

I do not ignore common rightwing myths, I address them, again and again and again.

The raise in minimum wage pay will be far greater than fractional inflation it may cause.

Learn that and stop repeating bullshit.

Actually you are incorrect. Economists are split on the idea. ABC News published a report on this as did several business magazines and independent think yanks. Trying to blow this off as a right wing myth is disingenuous at best.

Bullshit.

Economists are not split on the idea. There maybe is a rightwing Dodo bird somewhere out there arguing that increase in minimum wage causes so much inflation as to cancel the first order benefit of increased pay to the workers that recieve it, but there is certainly not a "split".

And by the way, I've never personally seen such a bird among actual economists.

You should educate yourself. Try reading.