The Wealthy Do Pay Income Taxes

Reagan's economy had everything to do with the end of the baby boom. Nixon, Ford and Carter had to struggle with an unusual population growth hitting the job markets. Once that was over and stabilized everything else fell into place despite Reagan's deficit spending.

 

"The Wealthy Do Pay Income Taxes"

of course they do, they just pay less tax per dollar they earn then the middle class does

 

Yes, they do. Watch the video. The rich are paying more than their fair share in taxes. People are jealous and envious of the rich so they demonize them. Fact is, a lot of them are wealthy because they are very smart and work hard for their money.

"Still, that analysis confirms that, after all federal taxes are factored in, the U.S. tax system as a whole is progressive. The top 0.1% of families pay the equivalent of 39.2% and the bottom 20% have negative tax rates (that is, they get more money back from the government in the form of refundable tax credits than they pay in taxes)."

If you are in the bottom 20% in America, you actually take more out of the system than you put in. So the rich, especially the very rich, are paying for the poor.

 

Obviously, you don't then understand what is being referred to as income. We aren't talking about capital gains. When ~40% of your income walks out the door you'll understand the difference. If you don't take precautions against it, you're not reading the tax code. When someone who makes less than 50K has to cough up 40% of their income, they will know the pain of those of us who already do. But not until then. Folks who don't suffer are always willing to make others suffer for them. It's typical liberalism.

 

Again, smoke and mirrors. At one point it's federal income taxes at another its federal taxes. If you go to the IRS website and strip away all the smoke and mirrors the lowest tax braket as a % of income is those under $15k per year. Not surprising. But the next lowest is 2-5 million per year followed by 5 million and up. The highest is the 50-95k earners. That's all federal taxes except the luxury tax but since that only taxes domestic beer I think its safe to say the majority of that is paid by the under 150 k group. Thats how messed up the system is, there's a luxury tax on a 6 pack of Pabst but not on a $7000 bottle of wine.

 

Nobody does.

It didn't seen to hurt at all during the big technology and lifestyle growth years 1945-1980. So I guess that is a false statement.

Why do you focus on about 2-5% of the population and pretend they are the problem? You on the right invent fantasies like that, repeat them, end up actually believing them, and then try to build policy on them when the whole premise is bogus!

 

Nobody pays 40% of their income to federal income taxes.

 

Well, apparently you not only have poor reading skills, but poor writing skills too.

 

39%. why quibble?

 

Nobody does.

 

They don't. Do tell. But what else is new? You view the law as something to be ignored. Interesting perspective.

 

Don't put words in my mouth. That is very disrespectful. You posted a falsehood and I corrected it.

 

Is that how they do it in the DRC Just curios, you even pay U.S. tax's?

 

Thats a wonderful question. Got an answer?

 

DERP!

 

No, I never could figure out the biased and twisted thinking of the right.

 

the right thinks people should be taxed more for labored income? why?

 

The banking system is the game rigged against all of us. We ALL struggle to pay debt but the top 1% feed off of us like a tapeworm.

1922

 

It's so confusing. First, you write folks don't pay 39%, and then you suggest that you didn't write that? I'd say lying is disrespectful. But thankfully, we have the archive where you actually wrote it for our review. Roll the tape.....

As far as falsehoods are concerned... look in the mirror. You're the only one providing them.

 

I don't think anything of the sort. I stated what the law already says, which, last I looked had been something Obama enacted. No? Don't like the law as written, work to change it. Best of luck.

 

You are running the typical scam of selective defense. We were talking about levels of taxation and your claim that some pay 40% or 39%. I said they don't. You replied with "You view the law as something to be ignored" which, as far as I can see, is completely off topic. Maybe I should have identified it as such but instead I said "don't put words in my mouth". I even added "You posted a falsehood and I corrected it." And now you want to pretend I "suggested" that I didn't say that nobody pays 39%. And then you object that you find your own spinning and twisting "so confusing". No surprise there.

This is the sort of spin and twisting of statements for which the right is so famous. If you were honest you would have connected my statement about putting words in my mouth with your assertion that I "view the law as something to be ignored". But you would rather spin it so you can attack on some basis I guess.

Pathetic.

 

That "x% of the population hold x% of the wealth" is one of the most pernicious and pervasive lie narratives the left repeats. When you dig into how "wealth" is defined, when that part of their flawed methodology is even revealed, you find that what is included versus excluded always skews the statistics towards way more concentration of wealth than actually exists. One egregious example is that Complex wealth calculations often exclude financial market assets held by pensions, 401ks, public institutions, making it appear that wealthy people own the whole stock market.

Another twist to this lie narrative is that the rich are hoarding the money out of use of the economy. This is patently absurd on its face. The only money not at work in the economy is money that is burned or hidden in mattresses, a tiny %. Even money invested in offshore accounts comes back into the US economy disproportionately, as the US remains a favored location for international investment. Finally, the rich give money away hand over fist. The Complex hates charity that it doesn't get to wet its filthy, greedy, beak as middleman in. Are they fooling you?

The "poor" are, for the most part, the same people as "the rich," just at different points in their careers. The plumber who starts out a flunky making $10 an hour in his twenties, then has his own truck and pays himself $30k a year for 30 years, then sells out his built up business for a million or two was "the poor," then "the lower middle class," then amazingly in one transaction, "the rich." The Complex -desperately- wants to conceal this plain fact of our economy, and purposefully repeats the lie that the poor and rich are mostly static. '

Then, when including criminals, drug addicts, people who pop out children without regard for their cost and welfare, others who perpetually make disastrous life choices at every opportunity, the Complex left peddles another equally bogus narrative of "blaming the poor." A vast majority of the perpetual poor are so because of their perpetual horrendous choices in a land of plenty of opportunity. Aggregating mass income graphs with cooked basis won't change this fact.

The "poor" in the US have 9x% of everything the rich have, and things the middle class did NOT have when I was growing up, cell phones, computer and net access, the disposable income to eat fast food and junk constantly, to buy junk they don't need constantly. Our children, and not just rich children, have more purchasing power than 80% of the world's countries have GDP. The Complex desperately needs income redistributed into dumb hands to fuel consumer culture and to expand its drug-addled, single parent family "client base." It's all about $$ to the Complex, not about helping anyone but themselves.

 

oh, I thought you were saying the rich should pay less for their non-labored income, my mistake

Obama tried to end many of the tax loopholes for the rich, but sadly republicans were in power

 

I can honestly say presented "levels of taxation" hasn't produced any real logical return so far