The Wealthy Do Pay Income Taxes

The false narrative put out by the democrats and left leaning loons is that “The wealthy don’t pay taxes”. When the loons make such a statement on TV the moderator never corrects them.
I saw this in the Parade magazine this morning. The question to Marilyn vos Savant was: What percent of the total amount of individual federal income taxes is paid by the wealthiest Americans?
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Her answer:
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"In 2014, households with incomes of $250,000 or more accounted for 2.7 percent of the returns filed. Together, they paid about 51.6 percent of the $1.4 trillion in income tax the federal government collected that year. Their average tax rate was 25.7 percent.

Households with incomes below $50,000 accounted for 62.3 percent of the returns. Collectively, they paid about 5.7 percent of the total amount of income tax collected by the federal government. Their average tax rate was 4.3 percent.

These figures were gathered from the Pew Research Center in Washington, D.C."

 

The problem with tax is, percentages! You could tax the rich for every cent they have, leave them penniless and it would never amount to the tax generated by 152 million workers/spenders contribution, the percentages are not in our favor.

 

I guess you don't watch the news' talking heads and lefties on TV who keeping saying the rich don't pay taxes. And the media never corrects them. Oh, you're right, they don't have a brain.
You fund the government by all those benefiting from the government paying something. No free rides. Why do you want the successful to pay more -- that punishes achievement.
That 70% bracket gave us the Carter economy. The Reagan 37% gave us the most robust economy in our history.

 

Great. Post proof of that. If that's true I would like to add those pundits to my list of idiots (Mathews being the chief one).

And it's interesting that you DO want to push more of the tax burden onto the middle class and poor...

 

Oh and since the Reagan era...the middle class has been GUTTED.

The rich have done really really well

 

You like facts?
The top 10% of families held 76% of total wealth.
1% of the total pie for the entire bottom half of the population.
The rich are getting richer is not just a saying, it is a fact.
They need to contribute to society.
Think of it this way - the rich can give some more now or continue to suck up more money and face a revolt in the future which may leave them with nothing. Gross income disparities breed revolution.

 

WHAT?
There were 16% interest rates under "Saint" Reagan.
The most robust economy was in the 1950s.
You revisionists are so funny.....

 

You failed to mention Carter. If you refuse to believe Reagan pulled us out from the Carter recession and the highest interest rates in history we can't have a discussion. You probably don't believe Saint Reagan won 49 states. There was good reason he won all but one state. I'll give you the 50's were great but you have to admit Saint Reagan did a masterful job with his tax cuts.

 

Wealth is not income. The rest of your post is equally worthless.


People keep saying the rich need to contribute, or the rich need to pay their fair share.

All of these people should be jumping on board with the flat tax. No deductions, no write offs. Everyone pays 15% of their income in federal income taxes.

 

You cannot compare the post WW2 world economy, and the US dominance of it, to today's world.

 

I had one of the 100 richest people in the world tell me he would rather pay taxes than bodyguards. It was an interesting comment.
History has shown that if wealth is not redistributed through taxes it's done so through violent revolution.

 

I came across something interesting about taxes on YouTube the other day...

No matter what your politics, you should NOT want tax rates to be above 33 percent.

Lower Taxes, Higher Revenue

 

So if you don't give me some of your money I might revolt against you?

 

It's a distinction without a difference.

Generally those with significant wealth have significant income and vice versa.

And a flat tax that was revenue neutral would be significantly higher than 15% (still a huge tax cut for the rich). You seem fixated with moving the tax burden from the rich to the middle class and poor

 

Read some history

 

I'm uneducated and can't read. But I want some of your money because I don't have much and you got a lot. You seem to be willing to give it to the government and then they give to me. Let's cut out the middle man.

 

First, you are denying history and the effects of higher taxation of the rich, and second, you ignore that if the taxes on the rich were raised, the total revenue increases substantially depending on the bracket.

 

Greed is a problem whether it is yours or that of a person with millions in income.

 

The left does not claim that the wealthy do not pay taxes. Strawman

Your argument has a number of challenges. The top 0.7% own over 50% of the worlds wealth. The top 5% are then at what ? 90% ?

Why would those who own 90% of the wealth pay only 50% of the taxes ?

 

Because we don't pay taxes on wealth....duh.

Why does global wealth distribution matter?

 

Do not blame me that you do not understand the correlation between wealth and obligation to pay. (duh).
Do not blame me that you don not understand your logical fallacy - That because the tax law is the way it is - that makes it fair.

Wealth matters because those who have more of it have a greater obligation to fund the processes that allow them to keep that wealth.

 

There is no correlation between wealth and obligation to pay. Those with greater wealth have already paid more while accumulating that wealth.

Do we tax wealth, yes or no? And why does the global distribution of wealth matter?

 

I'd put it a different way...There is no way to adequately fund a bloated bureaucracy that keeps growing and growing.

 

Oh gosh! I thought we still had an inheritance tax.

See how the middle class real median income has been flat since 1970?

See how Trump just weakened the EPA and threatens to eliminate it entirely?

See how we have all this talk of austerity and cutting the taxes of the rich even more?

See how we have A.L.E.C. developing legislation?

See how we have the most expensive health care in the world and are 30th to 37th in success depending on the metric?

See all the raving about Social Security being "in trouble"?

See how education is in trouble?

See how infrastructure is deteriorating and nothing is being done?

THAT is why the distribution of wealth matters.

 

I understand you guys are unhappy about other Americans being more well off than you, but I asked the question in a global context. Why does the distribution of wealth globally matter?