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

[danielpalos]

Until the Tax Code includes a per capita maximum tax amount, it can never be truly fair.

Once you have paid ... pick a number... then you have paid enough. Make it a million dollars - i don't care - but for the maximum to be open ended, thus punishing success, it is unfair.

The right wing needs to pay for their warfare programs;

In consideration of the monstrous sacrifice in property and blood that each war demands of the people, personal enrichment through a war must be designated as a crime against the people. Therefore, we demand the total confiscation of all war profits.

We do pay. The rest of your post is hyperbole

it is immoral to promote the general warfare and common offense on a for-profit basis.

No it isn’t. It’s imoral to take from those that have made it to supply those who don’t try.

yes, it is immoral to wage for the sake of profit. we should be paying wartime tax rates, if the right wing were morally serious.

 

[danielpalos]

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.

Not to a degree of solvency. The problem with that is you only look on one side. Cost of services go up the minimum wage still can’t pay, those people stay on programs at a higher rate. Many companies will indeed go to automation ( Amazon ) those people are out of work. The $15 minimum fixes nothing it only makes people feel good for a short period of time.

Twenty-five to fifty dollar an hour minimum wage may achieve solvency.

Not in a collapsed economy. Stop talking , you’re too stupid.

tax cut economics is also, unsustainable. only the right wing, never gets it.

 

[dave p]

Until the Tax Code includes a per capita maximum tax amount, it can never be truly fair.

Once you have paid ... pick a number... then you have paid enough. Make it a million dollars - i don't care - but for the maximum to be open ended, thus punishing success, it is unfair.

The right wing needs to pay for their warfare programs;

In consideration of the monstrous sacrifice in property and blood that each war demands of the people, personal enrichment through a war must be designated as a crime against the people. Therefore, we demand the total confiscation of all war profits.

We do pay. The rest of your post is hyperbole

it is immoral to promote the general warfare and common offense on a for-profit basis.

No it isn’t. It’s imoral to take from those that have made it to supply those who don’t try.

yes, it is immoral to wage for the sake of profit. we should be paying wartime tax rates, if the right wing were morally serious.

Where do you come up with this nonsense? You are obviously a troll, to ignorant for discussion. Off to ignore you go.

 

[Natural Citizen]

The other 97% are getting hit with the hidden, regressive, inflation tax.

 

[danielpalos]

The right wing needs to pay for their warfare programs;

In consideration of the monstrous sacrifice in property and blood that each war demands of the people, personal enrichment through a war must be designated as a crime against the people. Therefore, we demand the total confiscation of all war profits.

We do pay. The rest of your post is hyperbole

it is immoral to promote the general warfare and common offense on a for-profit basis.

No it isn’t. It’s imoral to take from those that have made it to supply those who don’t try.

yes, it is immoral to wage for the sake of profit. we should be paying wartime tax rates, if the right wing were morally serious.

Where do you come up with this nonsense? You are obviously a troll, to ignorant for discussion. Off to ignore you go.

nothing but fallacy like usual whenever we ask for, serious argument tax rates.

 

[BrokeLoser]

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.

 

[BrokeLoser]

Top 3% received the greatest benefit from the collective efforts of all the rest, especially the "defense" provided.

Conversely, the lower 50% have a 0% effective tax rate

No they do not, they still pay many OTHER taxes, like payroll taxes that cover Medicare and SS plus state and local.

Haha...Medicare and SS are their own savings accounts. What do their state and local taxes equate to....$100-$200 per year?

 

[Timmy]

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

The earn 90% of the income . Shouldn’t they be paying 90% of taxes ?

 

[Mr Natural]

The poor dears.

They give so much and ask for so little in return. It's almost like slavery, the way we treat them.

And what would we ever do without them?

 

[there4eyeM]

Whose sons and daughters die defending the élite?

 

[busybee01]

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

In tax reform, you take out tax shelters in return for lower rates. The carried interest deduction should be ended. Also the pass-through rate and the tax break for real estate trusts should be ended.

 

[kyzr]

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.

 

[JLW]

I don't know if all the top 3% pays income taxes. It depends on your occupation. Jared Kushner did not pay any income tax between 2009 and 2016 on income of 1.5 million dollars. I bet you dollars to donuts Trump paid either zero or an insignificant sum of income tax before he started receiving his government salary.

 

[kyzr]

I don't know if all the top 3% pays income taxes. It depends on your occupation. Jared Kushner did not pay any income tax between 2009 and 2016 on income of 1.5 million dollars. I bet you dollars to donuts Trump paid either zero or an insignificant sum of income tax before he started receiving his government salary.

Why is that? Because the wealthy donate to the pols to get those fucking loop-holes.

 

[JLW]

I don't know if all the top 3% pays income taxes. It depends on your occupation. Jared Kushner did not pay any income tax between 2009 and 2016 on income of 1.5 million dollars. I bet you dollars to donuts Trump paid either zero or an insignificant sum of income tax before he started receiving his government salary.

Why is that? Because the wealthy donate to the pols to get those fucking loop-holes.

Exactly...or they win elective office and push an agenda that favors them, their families and their businesses.

 

[kyzr]

I don't know if all the top 3% pays income taxes. It depends on your occupation. Jared Kushner did not pay any income tax between 2009 and 2016 on income of 1.5 million dollars. I bet you dollars to donuts Trump paid either zero or an insignificant sum of income tax before he started receiving his government salary.

Why is that? Because the wealthy donate to the pols to get those fucking loop-holes.

Exactly...or they win elective office and push an agenda that favors them, their families and their businesses.

When the coxuckers gave tax breaks to move factories overseas, that was the straw.

 

[Wyatt earp]

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

 

[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:

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.

 

[Wyatt earp]

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..

 

[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:

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..

Wtf? I just said, look at the blue lines only, which represent only Federal taxes.