WaPost Fact Checker: The Rich Do Pay Higher Percentage of Income in Taxes Than Others

[TurellSmith]

Re: WaPost Fact Checker: The Rich Do Pay Higher Percentage of Income in Taxes Than Ot

I know many of you are going to read it, the question really is how many of you will choose to ignore it.

Just read the article below people. Even with the 15% tax rate on capital gains, wealthier individuals still pay not only a higher total number of dollars in taxes BY FAR, but they also pay a higher percentage of their income. Again read the article & look at the effective tax rates (the amount of tax an individual or firm pays when all other government offsets or payments are applied, divided by the the total income) & you will see that those make more do indeed pay a higher percentage of their income. This article was in today's Washington Post Fact Checker.



http://www.washingtonpost.com/blogs/...g.html?hpid=z3

Wealthy people do pay a whole lot more in taxes but we are talking about percentage of income which is still a lot less than poorer pay in income taxes.

Lowest quintile (23.4 million taxpayers), zero to $18,900: 4.3 percent

Second lowest quintile (22.4 million), $18,900-$32,100: 10.2 percent

Middle quintile (22.9 million), $32,100-$47,400: 14.2 percent

Fourth quintile (23 million), $47,400-$71,200: 17.6 percent

Highest quintile (23.6 million), above $71,200: 25.8 percent

Top 10 percent (12 million), minimum income of $98,100: 27.5 percent

Top 5 percent (5.9 million), minimum income of $134,400: 29 percent

Top 1 percent (1.1 million), minimum income of $332,300: 31.2 percent

Wealhty people don't earn most of their money from income.


The CEO at my old company made about 750,000/yr but his total compensation was over 10-11 million dollars. So what he gets taxed at 31%. The rest of his compensation gets taxed at a much lower rate.

He receives that rest of his compensation though

• Stock Awards and Option
• Option Awards
• Nonequity Incentive Plan Compensation
• Pension and Deferred Compensation Earnings
• Other Compensation
• Performance bonuses
• Health Insurance (The CEO pays just as much as you but earns a hundred more times the total compensation)

What about all of the other free perks that comes with being a CEO: Executive corporate retreats, large expense acccounts, coporate jets, low rate loans for buying an house, company lease cars. the list goes on and on.


The average america worker does not get benefits like this. Most of the individuals compensation is income and all of that income gets taxed at an higher rate. The income tax rate. The rest of that money goes to living expenses rent, mortgages, car payments, kids, food, etc.

This is only one example of how wealthier people "escape" income taxes. We didn't look at real estate, owning corporations, patents, hiding money in their kids trust funds, investing in hedge funds and other investment vehicles that gets taxed at a much lower rate

On a separate note: this is way more than the average professional athlete makes. Teach your kids that black people can do more than sing, dance, and play sports.

 

[Mrfreddygoodbud]

Re: WaPost Fact Checker: The Rich Do Pay Higher Percentage of Income in Taxes Than Ot

Damn Que, you better than that ........ I understand you read his first sentence which is NOT what I was referring to; I quoted his last sentence, Did you bother to read his post.....or mine? I'll re-post!



it's retaliatory, which is what post 27 indicated

LOL dude you have no idea what figure of speech is...

If someone is getting over and using their power and influence to win one over at the expense of others, dont you think its time they pay...


crying is the opposite of laughing, avoiding taxes is the opposite of paying your fair share...

can you make the connection now, laughing when you are getting over, and crying when your scheme no longer works..

you act like I said rob them, rape their wife and daughters, tie them up and burn their house down.

look up figure of speech, but in the meantime pay your fair share.. and turn off the rush limbaughesqe show you are watching, or just get new talking points...

you say we just want to see rich poor, I say the rich are trying to stay rich at the expense of the middle class...and using our whorish govt to do so...

you act like its time they cry, was me saying its time to decapitate them like rival mexican drug dealers, or water board them untill they stop their sneaking tax evading ways..

personally I understand why the rich do what they do, I just think they are taking it too far and have become a monster of gluttony that they cant even control..

so they must be regulated by a third party and apparently that third party has to be the middle class providing the checks and balance..

damn I cant believe you got all shook over the figure of speech induced phrase its about time they cry..

are you really that sensitive??

 

[Lamarr]

Re: WaPost Fact Checker: The Rich Do Pay Higher Percentage of Income in Taxes Than Ot

LOL dude you have no idea what figure of speech is...

If someone is getting over and using their power and influence to win one over at the expense of others, dont you think its time they pay...

All I said in response to QueEx was that, it was obvious some posters want to penalize success. I noticed your post because you never described the benefits to the poor or middle-class, you demonized the "rich"! I'm not rich by any stretch but I am objective. It appears your post proved my initial point, there are posters who want to penalize success.

After reading the article, The Rich Do Pay Higher Percentage of Income in Taxes

"We'll know our disinformation program is complete when everything the American public believes is false."

--- William Casey, Director CIA (Quote from internal staff meeting notes 1981)

 

[Upgrade Dave]

Re: WaPost Fact Checker: The Rich Do Pay Higher Percentage of Income in Taxes Than Ot

Govt has nothing to give; they can only give what they take!

Tell that to the many multinational corporations that rely on government subsidies.

Philosophy and rhetoric is nice but it doesn't trump reality.

 

[Lamarr]

Re: WaPost Fact Checker: The Rich Do Pay Higher Percentage of Income in Taxes Than Ot

Tell that to the many multinational corporations that rely on government subsidies.

Philosophy and rhetoric is nice but it doesn't trump reality.

Govt has nothing to give the people, they can only give what they can take from the people

P.S. The Lions are 4-0

 

[Lamarr]

Re: WaPost Fact Checker: The Rich Do Pay Higher Percentage of Income in Taxes Than Ot

Roseanne Barr: Behead Bankers, Rich Who Won't Give Up Wealth

"I first would allow the guilty bankers to pay, you know, the ability to pay back anything over $100 million [of] personal wealth because I believe in a maximum wage of $100 million. And if they are unable to live on that amount of that amount then they should, you know, go to the reeducation camps and if that doesn't help, then being beheaded," Barr said with a straight face.

What an incredibly violent suggestion!

 

[Upgrade Dave]

Re: WaPost Fact Checker: The Rich Do Pay Higher Percentage of Income in Taxes Than Ot

Govt has nothing to give the people, they can only give what they can take from the people

P.S. The Lions are 4-0

Corporations are people.

 

[Mrfreddygoodbud]

Re: WaPost Fact Checker: The Rich Do Pay Higher Percentage of Income in Taxes Than Ot

All I said in response to QueEx was that, it was obvious some posters want to penalize success. I noticed your post because you never described the benefits to the poor or middle-class, you demonized the "rich"! I'm not rich by any stretch but I am objective. It appears your post proved my initial point, there are posters who want to penalize success.

After reading the article, The Rich Do Pay Higher Percentage of Income in Taxes


--- William Casey, Director CIA (Quote from internal staff meeting notes 1981)

Well if you mean penalize the success they had of using the govt to fuck over the middle class...

well then you are one hundred percent correct..


Thats the same as penalizing the SUCCESS of a rapist, or crook.

If they were not trying to get around the tax laws through loop holes, would there be a need to penalize them..

you are analyzing the reaction and ignoring the cause.

Personally I dont give a rats ass, because I know what goes around comes around... Karma is real.

I am just saying lets not act like the super rich pay the same amount of taxes as someone who make too little to afford an accountant to find loopholes.

If you know your country is fucked financially you are going to KEEP on fuckin it...???

Well thats what the super rich do and they need to be checked and balance by the middle class..

super rich success is fucking over the middle class by not paying their fair share, that kind of success needs to be stopped.

success at exploiting weakness in or govt at the expense of the middle class, isnt that something enemies of the state do?

do you think this is something the rich will just stop on their own or do you think they need to be called on it?

you think its ok for there to be NO checks and balances and they use their money to eradicate or change law that is in the best interest of the country as a whole but not their bottom line?

BTW I dont demonize the rich... they do it all by themselves.. by being too greedy. Gluttony is the sin they live by.
they need to be checked because they are incapable of doing it themselves.