This Just In - Top 10% Paid 70% of 2010 Federal Taxes

[Dean Cain]

its amazing to me that every time i bring up the rising income gap it gets totally ignored by supporters of the rich. its not even a point in debate, everyone agrees that its happening, but somehow its completely immaterial to those that want to keep letting the rich bank accounts siphon a bigger and bigger chunk of available money from everybody else. its like a mental disease

 

Until we end socialism for Wall Street & close too big to fail banks we get what we deserve.

 

This should be the core consideration votersake. Are you with Wall Street or with the middle class.

 

Money owns this town ala Storage Wars is the song that defines DC.

[Chef Jim]

its amazing to me that every time i bring up the rising income gap it gets totally ignored by supporters of the rich. its not even a point in debate, everyone agrees that its happening, but somehow its completely immaterial to those that want to keep letting the rich bank accounts siphon a bigger and bigger chunk of available money from everybody else. its like a mental disease

 

Let me ask you. This rising income gap. We all know the rich are getting richer (woohoo!! good for them) my question you is "are the poor getting poorer?"

 

And thanks for answering my questions.

[KD in CA]

its amazing to me that every time i bring up the rising income gap it gets totally ignored by supporters of the rich. its not even a point in debate, everyone agrees that its happening, but somehow its completely immaterial to those that want to keep letting the rich bank accounts siphon a bigger and bigger chunk of available money from everybody else. its like a mental disease

 

I don't even know what this is supposed to mean. But you're right, there is clearly a mental disease at work.

[GG]

We all know the rich are getting richer (woohoo!! good for them) my question you is "are the poor getting poorer?"

 

 

Don't know. But Leon is getting larger.

[Magox]

its amazing to me that every time i bring up the rising income gap it gets totally ignored by supporters of the rich. its not even a point in debate, everyone agrees that its happening, but somehow its completely immaterial to those that want to keep letting the rich bank accounts siphon a bigger and bigger chunk of available money from everybody else. its like a mental disease

 

Wow!

 

"keep letting the rich bank accounts siphon a bigger and bigger chunk of available money from everybody else."

 

 

This totally disregards facts. Which doesn't surprise me coming from the source.

 

According to the tax foundation which compiled data directly from the IRS, the average rate paid by the top 1% in 2008 paid Adjusted Gross Income of 20% of the total revenues collected. In 1980, the top 1% paid 8.46% of total revenues collected. Since 1980, the total share of revenues from the top 1% has been steadily increasing, with the exceptions of down years caused by recessions.

 

Also, speaking of the progressivity of the US tax code, the top 1% pay after deductions 24.01%, the bottom 50% pay 1.85%. As income rises, the level of taxes paid as a percentage increases.

 

Also at the bottom of the page, if you look at the progressiveness of the tax code, you will see that ever since 1980, the US tax code has steadily gotten more progressive.

 

In 1980 the top 1% paid a rate of 34.47%... The bottom 50% paid a rate of 6.1%, which means that the 1% paid a little less than 600% higher rates than the bottom 50%.

 

In 2009, the top 1% paid a rate of 24.28% and the bottom 50% paid a rate of 1.85%, which means that the 1% paid more than 1300% higher rates than the bottom 50%.

 

In other words the US tax code has exponentially increased the progressiveness of taxes paid.

 

http://taxfoundation...come-tax-data-0

 

Read it!

 

Which means that you are totally full of ****, and once again just shows that you are talking out of your ass.

 

 

 

Also, "siphoning" the "available money"??? What the !@#$ does that mean? Who's money is it? and from where are they siphoning it from?

 

You are right about one thing, it is like a mental disease.

Edited March 13, 2013 by Magox

[TakeYouToTasker]

As it stands today, the United States has the most progressive tax code in the world. How much more of my money do you want?

[KD in CA]

As it stands today, the United States has the most progressive tax code in the world. How much more of my money do you want?

 

The answer, as always, is "more".

 

 

But remember, it's the people who earned the money in the first place who are "greedy".

Edited March 13, 2013 by KD in CT

[Fezmid]

Let me ask you. This rising income gap. We all know the rich are getting richer (woohoo!! good for them) my question you is "are the poor getting poorer?"

 

And thanks for answering my questions.

Exactly. If "rich" was $1M 20 years ago, and is $50M now, obviously the rich are getting richer. However, poor can never go below $0, so... Pretty simple math; of course the "gap" is widening.

[Dante]

Wow!

 

"keep letting the rich bank accounts siphon a bigger and bigger chunk of available money from everybody else."

 

 

 

 

Also, speaking of the progressivity of the US tax code, the top 1% pay after deductions 24.01%, the bottom 50% pay 1.85%. As income rises, the level of taxes paid as a percentage increases.

 

 

hmmm..sounds like someone isn't paying their fair share!

[GG]

 

hmmm..sounds like someone isn't paying their fair share!

 

Warren Buffet?

[Cinga]

The answer, as always, is "fair share".

 

 

But remember, it's the people who earned the money in the first place who are "greedy".

 

fixed it for you...

[3rdnlng]

"its amazing to me that every time i bring up the rising income gap it gets totally ignored by supporters of the rich. its not even a point in debate, everyone agrees that its happening, but somehow its completely immaterial to those that want to keep letting the rich bank accounts siphon a bigger and bigger chunk of available money from everybody else. its like a mental disease"

 

 

So, it's rich bank accounts that are evil and greedy?

[birdog1960]

Does it make it right, probably not... in the theorectical case of a small, efficient government that provided for domestic defense and had means tested safety net program to protect the least of our citizens, then perhaps the people who posses the wealth paying the a disproptionate taxes is fair- but that would not be them paying 50%+ of their income to taxes, but perhaps 30%, 20% or less.

 

The Tax Code is so wacked because a small amount of the people in the US actually has Wealth, meaning they can pay taxes at a very high rate and still have mountains left over to provide, invest, retire, etc. The bulk of the population is paycheck to paycheck, or worse than that, payday loan to paycheck or cover their spread with credit.. its hard to increase taxes on those people without sapping aggreagte spending on good and services.. to me, I have always maintained that the biggest downfall for this country is lackluster growth of earned income and asset accumulation... after education, buying a vehicle, purchasing a home and having a family, there isn't a ton left to fund retirment, college for your kids, the new roof, a vacation once in a blue moon, etc. Other than wealth redistribution through taxes, there has to be growth in income and wealth dowward or the country will eventually be in big trouble- the masses can only string along on stagnant paychecks so long, that is why we see elevated debt levels year after year to cover the shortfall.

 

So it is right? no- but given the cicumstances of a stagnant middle class and bloated government, probably. Until we reduce the scope of government at the federal level and find a way for the masses to flourish, the Wealthy is where it is...

 

 

 

thats a pretty sweeping generalization. I have friends who work their buts off trying to get ahead, financed College, tyring to get ahead at 35, going to grad school, paying for kids schooling, trying to put away money for college (that's only 18 short years away), paying their mortgage, scraping to put money aside for retirement..... they literally have scraps at the end... ALOT of people work really hard, long hours, and the returns are often not commensurate with the effort.. that is becoming a core problem in America, people are starting to think twice about the "dream"... they often question whether it is worth it... ask around, I think you will find that sentiment not that uncommon...

had lunch today at a conference with (among others) a highly regarded teacher, a very senior medical educator/clinician at a well known, national university. he was asking me about providing care for underserved patients in my community practice as opposed to his academic practice. as the conversation inevitably turned to politics and policy, he interjected that the problem, as he saw it, was that policy makers eating $200 meals in d.c. or nyc or wherever had no idea of the life of someone making little more than that in a week. out of respect, i didn't argue. but i thought to myself "they do. they just consider them unimportant".

[Chef Jim]

had lunch today at a conference with (among others) a highly regarded teacher, a very senior medical educator/clinician at a well known, national university. he was asking me about providing care for underserved patients in my community practice as opposed to his academic practice. as the conversation inevitably turned to politics and policy, he interjected that the problem, as he saw it, was that policy makers eating $200 meals in d.c. or nyc or wherever had no idea of the life of someone making little more than that in a week. out of respect, i didn't argue. but i thought to myself "they do. they just consider them unimportant".

 

Wow, you liberals are so deep and thought provoking. You guys talk a great game but do very little about it.

[meazza]

had lunch today at a conference with (among others) a highly regarded teacher, a very senior medical educator/clinician at a well known, national university. he was asking me about providing care for underserved patients in my community practice as opposed to his academic practice. as the conversation inevitably turned to politics and policy, he interjected that the problem, as he saw it, was that policy makers eating $200 meals in d.c. or nyc or wherever had no idea of the life of someone making little more than that in a week. out of respect, i didn't argue. but i thought to myself "they do. they just consider them unimportant".

 

Or useful idiots...

[keepthefaith]

Until we end socialism for Wall Street & close too big to fail banks we get what we deserve.

 

This should be the core consideration votersake. Are you with Wall Street or with the middle class.

 

Money owns this town ala Storage Wars is the song that defines DC.

 

How exactly are the banks and wall street folks damaging our economy?

[3rdnlng]

had lunch today at a conference with (among others) a highly regarded teacher, a very senior medical educator/clinician at a well known, national university. he was asking me about providing care for underserved patients in my community practice as opposed to his academic practice. as the conversation inevitably turned to politics and policy, he interjected that the problem, as he saw it, was that policy makers eating $200 meals in d.c. or nyc or wherever had no idea of the life of someone making little more than that in a week. out of respect, i didn't argue. but i thought to myself "they do. they just consider them unimportant".

 

What would be your plan for making everything right?

[DC Tom]

had lunch today at a conference with (among others) a highly regarded teacher, a very senior medical educator/clinician at a well known, national university. he was asking me about providing care for underserved patients in my community practice as opposed to his academic practice. as the conversation inevitably turned to politics and policy, he interjected that the problem, as he saw it, was that policy makers eating $200 meals in d.c. or nyc or wherever had no idea of the life of someone making little more than that in a week. out of respect, i didn't argue. but i thought to myself "they do. they just consider them unimportant".

 

No ****. And you keep voting for them.

[Dean Cain]

 

 

How exactly are the banks and wall street folks damaging our economy?

 

When a company becomes so large that it is too big to fail and government is required to print trillions of dollars to keep them afloat than you have socialism. You liberals love socialism so I suppose your Wall Street campaign contributors are too important than Main Street small businesses.

[DC Tom]

When a company becomes so large that it is too big to fail and government is required to print trillions of dollars to keep them afloat than you have socialism. You liberals love socialism so I suppose your Wall Street campaign contributors are too important than Main Street small businesses.

 

I have never seen so much "stupid" expressed in so few words.