PF Exclusive: Debt increase in FY2015 lowest in 14 years

the rich paid less tax per dollar then the middle class

 

Considering the Federal government is spending about $12,000 per person each year, it would seem the rich are paying much more than their fair share resulting in their subsidizing ALL those who are paying less than $12,000 per family member.

Repeal the 16th and 17th amendments and allow each State to start providing their fair share of running the Federal government AND their State and local government from revenue collected from and spent on their citizens. The Federal budget could then easily be balanced by distributing the cost as originally intended, and elected politicians would be held more responsible to their States and constituents who would bear the cost of the Federal spending they approved. Any Federal aid to a State would only be provided as a temporary loan requiring repayment.

 

the rich are not paying their fair share if they pay less tax per dollar then the middle class

 

A flat tax rate would put an end to that, but let's try and keep the conversation about the "PF Exclusive" factoid presented in the OP and look at the real facts.
Should our government(s) be creating budgets, spending, and borrowing based primarily on what the wealthiest income earners can afford?

 

I am for a flat tax

a flat tax where everyone pays the same % for every dollar they earn over the poverty line is the only fair system

all income needs to be treated as income, no caps, everyone pays the same % across the board for every dollar earned over the poverty line

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I would agree, but only if individuals income were taxed by their State governments by whatever means they find necessary and the Federal government was to tax each of the States based on their portion of the whole population at a flat rate.

I see the FY2016 budget calls for spending $3,999,000,000,000 and the 2010 census set the U.S. population at 308,745,538 which would mean the Federal government wants to spend $12952.41 per person.

Based on the above California, the most populous State would be liable for $482,528,512,233.96 Federal tax while Wyoming, the least populous State would be liable for $7,300,315,038.66 Federal tax.
In FY2013 Federal spending on the State of California was $343,725,000,000 or about $9,226.54 per person returning to the State.
In FY2013 Federal spending on the State of Wyoming was $5,177,000,000 or about $9,185.17 per person returning to the State.

By returning taxation by the Federal government to the States representatives of the people and the States sent to the Federal government would be held more responsible for the Federal spending they might allow, and much of the Federal budget which is currently returning money back to the States, in most cases more than was acquired from the State would result in the States and the people demanding the money not leave their State to begin with reducing the Federal budget over time to only what the Federal government alone was required to spend on, in turn making a balanced Federal budget more easily accomplished. States and local governments of course would become seen as more responsible in providing an environment in which their citizens could prosper based on the reality of what is possible. Good governance would result in some States becoming more prosperous while bad government would result in others having to recognize what is keeping them from achieving equal prosperity and act upon that.

The poverty line can vary greatly depending on where you live in the U.S. so based on that fact, it should be a State/local government NOT a Federal government function to determine and provide assistance, and taxation necessary to fund it.

 

They pay the highest effective rates and the highest marginal rates on both earned and unearned income.

 

Well since the lowest income groups do not pay anything or virtually anything with most making money off the tax system where is their "fair share".

And the claim is they don't pay their fair share of income taxes, NOT that they don't pay a fair share of their incomes.

And again what is your main purpose higher rates on the highest earners or higher tax revenues?

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So you're OK with lower tax revenues so you can stick it to the highest earners as if they don't already pay the vast majority it income taxes.

 

no, tax revenues would increase with a flat tax where everyone pays the same % for every dollar they earn over the poverty line

making the rich pay the same tax per dollar as everyone else is NOT sticking it to the highest earners as you say

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you should not be taxed more for income you had to labor for

the rich pay less tax per dollar then the middle class does

 

the rich still pay less tax per dollar then the middle class

 

Thread topic: PF Exclusive: Debt increase in FY2015 lowest in 14 years

 

According to the IRS, in 2011 individual income taxes produced $1,043,000,000,000 on a total AGI $8,317,000,000,000
The top 1% of income earners paid an average of $0.235 per dollar of taxable income
The next 4% of income earners paid an average of $0.177 per dollar of taxable income
The next 5% of income earners paid an average of $0.129 per dollar of taxable income
The next 15% of income earners paid an average of $0.097 per dollar of taxable income
The next 25% of income earners paid an average of $0.069 per dollar of taxable income
And the bottom 50% of income earners paid an average of $0.031 per dollar of taxable income

 

that only includes labored income, nice try

 

Actually it includes wages, salaries, tips, interest, dividends, alimony, capital gains, IRA distributions, pensions, annuities, unemployment compensation, and social security benefits and more.

Have you never filed a tax return?

 

that did not include capital gains and deductions...

 

Deductions are not taxable income.

 

your right, but they lower the percent per dollar you pay in taxes

 

That's true, but so do the deductions of all taxpayers and some low income earners actually receive a refund greater than the tax withheld.

But none of this has anything to do with the thread topic.

 

those that make that small of an amount don't worry me, it's the ones making millions that pay less tax per dollar then the middle class do that is the problem

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But they aren't paying less tax per dollar of taxable income than the middle class as confirmed by the IRS.

 

yes they are, all one has to do is look at Romney's tax returns

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even those making 200k a year will pay more tax per dollar then the person making 20 million a year

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Romney, according to the Washington Post, "paid $1.9 million in taxes on $13.69 million in income in 2011, most of it from his investments, for an effective rate of 14.1 percent."
From the IRS data I displayed in a previous post that would show him to be among the top 5% of income earners, and paid a little more than the average amount for that group.

According to the IRS, in 2011 individual income taxes produced $1,043,000,000,000 on a total AGI $8,317,000,000,000
The top 1% of income earners paid an average of $0.235 per dollar of taxable income
The next 4% of income earners paid an average of $0.177 per dollar of taxable income
The next 5% of income earners paid an average of $0.129 per dollar of taxable income
The next 15% of income earners paid an average of $0.097 per dollar of taxable income
The next 25% of income earners paid an average of $0.069 per dollar of taxable income
And the bottom 50% of income earners paid an average of $0.031 per dollar of taxable income

 

According to the IRS, in 2011 individual income taxes produced $1,043,000,000,000 on a total AGI $8,317,000,000,000
The top 1% of income earners paid an average of $0.235 per dollar of taxable income
The next 4% of income earners paid an average of $0.177 per dollar of taxable income
The next 5% of income earners paid an average of $0.129 per dollar of taxable income
The next 15% of income earners paid an average of $0.097 per dollar of taxable income
The next 25% of income earners paid an average of $0.069 per dollar of taxable income
And the bottom 50% of income earners paid an average of $0.031 per dollar of taxable income

I find the IRS data closely matches my tax per dollar of taxable income, but anyone who must file a tax return consisting of hundreds of pages is in my opinion being subjected to cruel and unusual punishment.

So I accept as fact that we will continue to disagree on the above, with hopes of returning to discussing the threads topic. Maybe your time and efforts would be better spent in the thread titled "Creating Fair Taxation"? Personally, I don't feel the Federal government should have ever started taxing individuals income or anything else for that matter directly, and that taxation should have been left to the State and local governments as originally defined in our Constitution. But like I said that is not the topic of this thread.

 

I am not the 1% and I pay about 25%, so I think your numbers are wrong.....