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#1 User is offline   MTP Reggie 

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Posted 08 January 2019 - 08:06 AM

The Top 20% of Households Pay 88% of Federal Income Taxes
Posted by Alex Hendrie
on Monday, January 7th, 2019, 2:02 PM
ATR.org

<More Here>

Congresswoman Alexandria Ocasio-Cortez (D-NY) r ecently proposed a 70 percent top federal income tax rate. This would nearly double the current top tax bracket, which is currently at 37 percent. Ocasio-Cortez fails to mention that the tax code is already steeply progressive. According to the Congressional Budget Office:

-The top one percent of households pay 39.4 percent of federal income taxes and 26.2 percent of total federal taxes.

- The top 20 percent of households pay 88.1 percent of federal income taxes and 69.5 percent of total federal taxes.

- The top one percent of households pay an average income tax rate of 24 percent while the middle quintile pays an average income tax rate of 3 percent.

- The top one percent of households pay an average total tax rate of 33.3 percent while the middle quintile pays an average total tax rate of over 14 percent.

- The top 20 percent of households pay an average total tax rate of 26.7 percent while the middle quintile pays an average total tax rate of 14 percent.


The data is shown below:

(snip)

<More Here>
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#2 User is offline   Taggart Transcontinental 

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Posted 08 January 2019 - 08:39 AM

OC does not need to read, or understand simple facts, for her and her generation Facts = Feelings and as long as you feel good that's a fact!
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#3 User is online   WillieChuck 

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Posted 08 January 2019 - 10:14 AM

Silly OL wabbit. It's not who is paying the taxes, it's the percentage of income they are paying that is unfair. Those that have the most should pay the most and only be allowed to keep what some central planning committee says you can keep. Romney actually had this right. The rich (Top 1%) which includes many members of the ruling elite (congress, even on a $174K annual salary) have already made their money (rich) or will be exempted (congress), so they will be fine regardless of what the "income" tax burden is. It's the 45 or so percent of the middle/upper middle income wage earners working to climb the ladder that will be impacted the most. I mean why should I work harder to make more money so I can pay higher taxes that require me to work harder to make more money so I can pay higher taxes that require me to work harder so I can make more money.............Here's all I would like to see from the progressive left: Define Rich in real numbers; Define Fair Share with an aggregated local, state and federal tax burden as a true percentage of income. We already pay upwards of over 60% of every dollar spent to some local, state or federal tax. Truth in advertising and simply run on that.
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#4 User is online   oki 

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Posted 08 January 2019 - 10:20 AM

And the left should be thanking Trump for the new tax code, not talking out there asses how he just helped the rich because of a generous cut.

Let me explain why...

Let's say you make one million a year.
Under the old plan you where paying 39.6 percent in taxes or 396,000 dollars a year.
Under the new plan you WILL BE paying 37.0 percent or 370,000 dollars per year.
All this is Adjusted Gross Income. And that of coarse is the key... that is AFTER DEDUCTIONS.

BUT(and it's a big BUT), the evil Orange man capped a number of deductions the rich previously took advantage of.
IE S.A.L.T. state and local taxes those are capped at 10K.

Let's say that evil rich millionaire lives in California. He is paying at least %10 state taxes as in 100K, and if he owns what is considered a moderate home anywhere in Southern CA it's gonna' be a million dollar house as well. With 10K in Taxes.
Know all the suddenly he is no longer able to deduct 110K but JUST 10K.
Instead of paying 39.6 percent of 890,000 which is of coarse $352,440 he is paying %37 of 985,000 as he might as well not even itemize but claim the standard deduction of single(which if I remember correctly is 12,000). Some care to tell me which number is greater 39.6 percent of 890,000 or 37 percent of 988,000.

https://www.gpwa.com...e-Tax-Rates.pdf

Oh that's right those evil rich people who make all there money on investments didn't get much of a break(oh wait the capital gains tax rate is unchanged).

Those rich S.O.B's who like to deduct 100's of thousands from their McMansion loans took a pretty big hit as well
https://www.creditka...-deduction-cap/

https://www.hrblock....ax-reform-bill/

F'ng clueless hypocrites, they by in large are getting a big part of what they wanted. The ubber rich by in large are going to be paying more.
But never mind, the orange man is evil. Only non rich people who will be taking it in the shorts are by in large those who live in over priced and over taxed liberal Utopias like San Fran, N.Y.C. and other locals that are Socialist Dem Paradises where a million dollar house is normal, six figures is survival and 10K in local and state taxes is just the beginning.


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#5 User is online   oki 

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Posted 08 January 2019 - 10:22 AM

View PostWillieChuck, on 08 January 2019 - 10:14 AM, said:

Silly OL wabbit. It's not who is paying the taxes, it's the percentage of income they are paying that is unfair. Those that have the most should pay the most and only be allowed to keep what some central planning committee says you can keep. Romney actually had this right. The rich (Top 1%) which includes many members of the ruling elite (congress, even on a $174K annual salary) have already made their money (rich) or will be exempted (congress), so they will be fine regardless of what the "income" tax burden is. It's the 45 or so percent of the middle/upper middle income wage earners working to climb the ladder that will be impacted the most. I mean why should I work harder to make more money so I can pay higher taxes that require me to work harder to make more money so I can pay higher taxes that require me to work harder so I can make more money.............Here's all I would like to see from the progressive left: Define Rich in real numbers; Define Fair Share with an aggregated local, state and federal tax burden as a true percentage of income. We already pay upwards of over 60% of every dollar spent to some local, state or federal tax. Truth in advertising and simply run on that.



Simple, to them it's always the person who has more than them.

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#6 User is offline   JerryL 

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Posted 08 January 2019 - 10:37 AM

View PostMTP Reggie, on 08 January 2019 - 08:06 AM, said:

The Top 20% of Households Pay 88% of Federal Income Taxes
Posted by Alex Hendrie
on Monday, January 7th, 2019, 2:02 PM
ATR.org

<More Here>

Congresswoman Alexandria Ocasio-Cortez (D-NY) r ecently proposed a 70 percent top federal income tax rate. This would nearly double the current top tax bracket, which is currently at 37 percent. Ocasio-Cortez fails to mention that the tax code is already steeply progressive. According to the Congressional Budget Office:

-The top one percent of households pay 39.4 percent of federal income taxes and 26.2 percent of total federal taxes.

- The top 20 percent of households pay 88.1 percent of federal income taxes and 69.5 percent of total federal taxes.

- The top one percent of households pay an average income tax rate of 24 percent while the middle quintile pays an average income tax rate of 3 percent.

- The top one percent of households pay an average total tax rate of 33.3 percent while the middle quintile pays an average total tax rate of over 14 percent.

- The top 20 percent of households pay an average total tax rate of 26.7 percent while the middle quintile pays an average total tax rate of 14 percent.


The data is shown below:

(snip)

<More Here>

Federal income is not the only tax :blahblah: :blahblah: :blahblah:

People in the lower brackets already pay more than their "fair share" in :blahblah: :blahblah: :blahblah:
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#7 User is online   oki 

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Posted 08 January 2019 - 11:43 AM

View PostJerryL, on 08 January 2019 - 10:37 AM, said:

Federal income is not the only tax :blahblah: :blahblah: :blahblah:

People in the lower brackets already pay more than their "fair share" in :blahblah: :blahblah: :blahblah:


When you get a refund greater then you paid in, how in the hell are you paying anything?

Maybe these same people can explain why two people from the same neighborhood or siblings for that matter can have very different outcomes in life.
With everything being equal in two peoples lives shouldn't they have the exact same outcomes? The fact that they don't tells a person we have choices and opportunities, when we fail it's on us.

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#8 User is offline   BootsieBets 

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Posted 08 January 2019 - 12:16 PM

View PostWillieChuck, on 08 January 2019 - 10:14 AM, said:

Silly OL wabbit. It's not who is paying the taxes, it's the percentage of income they are paying that is unfair. Those that have the most should pay the most and only be allowed to keep what some central planning committee says you can keep. Romney actually had this right. The rich (Top 1%) which includes many members of the ruling elite (congress, even on a $174K annual salary) have already made their money (rich) or will be exempted (congress), so they will be fine regardless of what the "income" tax burden is. It's the 45 or so percent of the middle/upper middle income wage earners working to climb the ladder that will be impacted the most. I mean why should I work harder to make more money so I can pay higher taxes that require me to work harder to make more money so I can pay higher taxes that require me to work harder so I can make more money.............Here's all I would like to see from the progressive left: Define Rich in real numbers; Define Fair Share with an aggregated local, state and federal tax burden as a true percentage of income. We already pay upwards of over 60% of every dollar spent to some local, state or federal tax. Truth in advertising and simply run on that.

Rich = Someone making enough money to pay for the programs they want.

Fair Share = Enough money to pay for all the programs they want.

It doesn’t matter to them how much “the rich” pay now. They are not paying enough because they can’t yet enforce medicare for all or free tuition. And, as long as “the rich” have more money than they think they should have, they need to pay out more in taxes.
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#9 User is online   Weaseljd 

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Posted 08 January 2019 - 01:37 PM

Want to see liberals backtrack or say a quick no to a tax (I know - a foreign concept since in the last 50+ years a liberal has never met a tax they did not love). Bring back an old English concept of taxing, which was not an income tax, but a WEALTH tax. English kings would pass taxes which would require people to pay amounts from 1/10th up to 1/5th (called a fifth or a tenth) of their entire wealth to the crown (though the king would often award special favors to individuals to exempt them from the tax) to help pay for special projects or wars. This was not a tax on what you earned this year (like we pay now), but a tax on your total wealth.

Could you imagine what the rich liberals in Congress (looking at you Pelosi) and the Hollywood elite would say if Trump and the Republicans came along and said we will pay for universal free college tuition like you want by taxing wealth to pay it, so that all these rich limousine liberals would suddenly have to pony up to the government 20% of their total wealth to pay for this pet project. Worth 5 billion dollars Oprah? Write a check to the government for a billion of it. Have trust funds worth 10 billion (Kennedy's), get together and come up with 2 billion since trust funds are wealth and not excluded. Soros, hand over 10 billion please. Mr. Jim Carrey, thank you for your 100 million dollar check. I know you wont get to vacation at your Italian villa anymore since you will have to sell it to pay this tax, but it's all for a good cause, children and the environment.

Lets just see how fast wealthy liberals start crying foul if they themselves will have to pay from their WEALTH for these liberal programs they so desire. Hell, make it 70% like Alexandria Ocasio-Cortez wants and we can give you your green energy dream to boot!
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#10 User is online   oki 

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Posted 08 January 2019 - 02:20 PM

View PostWeaseljd, on 08 January 2019 - 01:37 PM, said:

Want to see liberals backtrack or say a quick no to a tax (I know - a foreign concept since in the last 50+ years a liberal has never met a tax they did not love). Bring back an old English concept of taxing, which was not an income tax, but a WEALTH tax. English kings would pass taxes which would require people to pay amounts from 1/10th up to 1/5th (called a fifth or a tenth) of their entire wealth to the crown (though the king would often award special favors to individuals to exempt them from the tax) to help pay for special projects or wars. This was not a tax on what you earned this year (like we pay now), but a tax on your total wealth.

Could you imagine what the rich liberals in Congress (looking at you Pelosi) and the Hollywood elite would say if Trump and the Republicans came along and said we will pay for universal free college tuition like you want by taxing wealth to pay it, so that all these rich limousine liberals would suddenly have to pony up to the government 20% of their total wealth to pay for this pet project. Worth 5 billion dollars Oprah? Write a check to the government for a billion of it. Have trust funds worth 10 billion (Kennedy's), get together and come up with 2 billion since trust funds are wealth and not excluded. Soros, hand over 10 billion please. Mr. Jim Carrey, thank you for your 100 million dollar check. I know you wont get to vacation at your Italian villa anymore since you will have to sell it to pay this tax, but it's all for a good cause, children and the environment.

Lets just see how fast wealthy liberals start crying foul if they themselves will have to pay from their WEALTH for these liberal programs they so desire. Hell, make it 70% like Alexandria Ocasio-Cortez wants and we can give you your green energy dream to boot!


I think your on to something here. And yes, let's how they support it when it comes straight from their pocket.

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#11 User is offline   Italian Biker 

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Posted 08 January 2019 - 05:15 PM

View PostMTP Reggie, on 08 January 2019 - 08:06 AM, said:

The Top 20% of Households Pay 88% of Federal Income Taxes
Posted by Alex Hendrie
on Monday, January 7th, 2019, 2:02 PM
ATR.org

<More Here>

Congresswoman Alexandria Ocasio-Cortez (D-NY) r ecently proposed a 70 percent top federal income tax rate. This would nearly double the current top tax bracket, which is currently at 37 percent. Ocasio-Cortez fails to mention that the tax code is already steeply progressive. According to the Congressional Budget Office:

-The top one percent of households pay 39.4 percent of federal income taxes and 26.2 percent of total federal taxes.

- The top 20 percent of households pay 88.1 percent of federal income taxes and 69.5 percent of total federal taxes.

- The top one percent of households pay an average income tax rate of 24 percent while the middle quintile pays an average income tax rate of 3 percent.

- The top one percent of households pay an average total tax rate of 33.3 percent while the middle quintile pays an average total tax rate of over 14 percent.

- The top 20 percent of households pay an average total tax rate of 26.7 percent while the middle quintile pays an average total tax rate of 14 percent.


The data is shown below:

(snip)

<More Here>

Not one msm reporter ever asks any dem politician about these numbers and how this cannot be considered their fair share.
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#12 User is offline   JerryL 

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Posted 09 January 2019 - 07:46 AM

View PostWeaseljd, on 08 January 2019 - 01:37 PM, said:

Want to see liberals backtrack or say a quick no to a tax (I know - a foreign concept since in the last 50+ years a liberal has never met a tax they did not love). Bring back an old English concept of taxing, which was not an income tax, but a WEALTH tax. English kings would pass taxes which would require people to pay amounts from 1/10th up to 1/5th (called a fifth or a tenth) of their entire wealth to the crown (though the king would often award special favors to individuals to exempt them from the tax) to help pay for special projects or wars. This was not a tax on what you earned this year (like we pay now), but a tax on your total wealth.

Could you imagine what the rich liberals in Congress (looking at you Pelosi) and the Hollywood elite would say if Trump and the Republicans came along and said we will pay for universal free college tuition like you want by taxing wealth to pay it, so that all these rich limousine liberals would suddenly have to pony up to the government 20% of their total wealth to pay for this pet project. Worth 5 billion dollars Oprah? Write a check to the government for a billion of it. Have trust funds worth 10 billion (Kennedy's), get together and come up with 2 billion since trust funds are wealth and not excluded. Soros, hand over 10 billion please. Mr. Jim Carrey, thank you for your 100 million dollar check. I know you wont get to vacation at your Italian villa anymore since you will have to sell it to pay this tax, but it's all for a good cause, children and the environment.

Lets just see how fast wealthy liberals start crying foul if they themselves will have to pay from their WEALTH for these liberal programs they so desire. Hell, make it 70% like Alexandria Ocasio-Cortez wants and we can give you your green energy dream to boot!

Exactly. And this is why the rich leftists really don't care just how high the top income tax rate goes, too. It does not touch their wealth. They also package their "compensation" in a manner that is not, in tax terms, "income."

"Taxing the rich" and "fair share" are nothing more than emotional appeals to garner votes and gain power.
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