TAX the rich

[armedandsafe]

Or tell the truth. Which do you think Obama prefers?

DEBUNKING OBAMA'S TAX DEMAGOGERY
By DICK MORRIS & EILEEN MCGANN

Published on www.DickMorris.com on October 1, 2011

When President Obama says that the rich don't pay their share of taxes, he is lying, distorting, and demagoging.

Here are the facts according to the IRS:

• Those making more than $1 million pay 24% of income in taxes
• Those making $200,000 to $300,000 pay 17.5%
• Those making $100,000 to $125,000 pay 9.9%
• Those making $50,000 to $60,000 pay 6.3%
• Those making $20,000 to $30,000 pay 2.5%

And what of millionaires who pay no taxes?

There are 1,470 of them. They represent six-tenths of one percent of all those with million dollar incomes in the U.S. If we assume that they make an average income of $2 million a year each, taxing them at the same rate as other millionaires (24.4%) would yield $367 million, which would increase Treasury income tax revenues by 30 one-hundredths of one percent or one-third of one-tenth of one percent!

Overall, the IRS reports that the revenues from the income tax are sharply skewed toward taxes on the rich:

• The top 1% pays 39%
• The top 5% pays 60%
• The top 10% pays 72%
• The bottom half pays 3%

So who does Obama think he is kidding?

Pops

[jbmid1]

He only needs to fool half the population. And if half the population is uninformed...

[carver]

The numbers above don't add up to 100%, or they are far greater than 100%? I do believe that the numbers for taxes being paid are higher for those with the most money, but I would like to see some real numbers, ones that do add up!

[graehaven]

Originally Posted by carver

The numbers above don't add up to 100%, or they are far greater than 100%? I do believe that the numbers for taxes being paid are higher for those with the most money, but I would like to see some real numbers, ones that do add up!

They're not supposed to add up to 100 percent.

The top one percent are also included in the next 2 categories.

The top 5% (which includes that first 1 %) are also in the next category and so on.

It's simply illustrative to show how much of the given top tier percentage wise is being raped on taxes.

[Old Grump]

Originally Posted by graehaven

They're not supposed to add up to 100 percent.

The top one percent are also included in the next 2 categories.

The top 5% (which includes that first 1 %) are also in the next category and so on.

It's simply illustrative to show how much of the given top tier percentage wise is being raped on taxes.

• The top 1% pays 39%
• The top 5% pays 60%
• The top 10% pays 72%
• The bottom half pays 3%

Explanation clear as mud, using your technique I still don't get 100%. Want to try that again and use small words because I'm just a simple country boy and I don't speak government speak.

[carver]

• The top 1% pays 39%
• The top 5% pays 60%
• The top 10% pays 72%
• The bottom half pays 3%

If the top 1%, the top 5%, and the top 10%, (wich includes all three catagories) pay 72% of the taxes, that comes to only 10%? The bottome half pays 3%? Bottom half would have to be 50%, being that 50% is half of a whole??? It still don't add up! I still know that Obozo is lying, I can tell real easy, if his lips are moving, he's lying!

[Bobitis]

According to my math, those number only come up to 75%

Start with 39
60-39 = 21
72-60 = 12

39+21+12 = 72

72+3 = 75

Where's the other 25%

My guess is it lies between the top 10% and the bottom half. In other words the, 40% of the working middle class.

The glaring figure is the last one. Half of this country only contributes 3%.
One could suppose that means they consume 97%. Is that rational? I don't think so. Lies, damn lies, and statistics.

Ther're far too many holes in this report to take it seriously other than the last one. These folks obviously consume more than the contribute. Make them work for their freebies and tax them.

[45Auto]

I'm no tax expert, but I do know that you can fool alot of people by very selectively telling the truth. It's all in what you leave out.

One little thing I question is the Three Billion in Federal subsidies to Big Oil. These are not tax brakes but subsidies - another name for welfare.

In the news paper this morning I read that here in Michigan a weekend food aid program for poor kids got axed. OK, so we don't want to feed poor kids because of the budget. It would be nice if Big Oil also took a little less and contributed a little more.

[dustydog]

Frankly,none of the tax code makes any sense.Lets scrap the current code and go back to the tax structure of the Second World War.Most big companies would shy away from that structure like the plague,and the howls from folks that directly profit from having our kids in harms way would be heard in Congress within seconds.

[millwright]

Originally Posted by jbmid1

He only needs to fool half the population. And if half the population is uninformed...

I'd say your's is optimism on a grand scale ! The Dems have already "poisoned the well" by hiring over 100 uber liberals into DOJ where they will have oversight of - you guessed it ! - the pending elections ! In other news its been demonstrated the most prolific electronic voting machine is vulnerable to a very cheap hack that can't be detected ! And ACORN is still active, (albeit under a different name), so we can expect massive voting fraud across the land - and a DOJ biased against investigation - it doesn't take a degree in logic to conlude what's going to happen ! >MW

[millwright]

Originally Posted by 45Auto

I'm no tax expert, but I do know that you can fool alot of people by very selectively telling the truth. It's all in what you leave out.

One little thing I question is the Three Billion in Federal subsidies to Big Oil. These are not tax brakes but subsidies - another name for welfare.

In the news paper this morning I read that here in Michigan a weekend food aid program for poor kids got axed. OK, so we don't want to feed poor kids because of the budget. It would be nice if Big Oil also took a little less and contributed a little more.

[bold added]

The USG subsidizes a lot of industries for many purposes - supporting politicians being one of them - but in this instance it has a serious purpose. Most of the energy patch subsidies are in the form of "tax breaks" like "depletion allowance, new field exploration and recovery enhancement due to the heavily "front loaded" nature of oil/energy exploration and development. In that arena "hundreds of millions" are table stakes and a "dry hole" costs just as much as one hitting paying sand ! Energy is a strategic defense assetand, as such, we all have a stake in it ! (Or so goes the thinking that created the current situation.)

In an aside to the administration/liberal meme on the oil business, the numbers cited are deliberately made to seem "excessive" by "piling on" on the subsidiary product profits derived from crude, but conveniently "forgetting "
to indicate they don't effect "pump price" (except, perhaps, to subsidize them in corporate marketing strategies) .

Looked at another way; how many of us could, (or would) risk six month's income on a bet ? But oil companies - and American farmers - do so regularly ! So do many other corporate ventures ! Boeing has "bet the company" on its Dreamliner introduction ! And the USDOL is working overtime to torpedo its new mfg operation in the Carolinas !

But "Big Oil" is only one of many such companies being "subsidized ! Lots of air connections from small cities, aka "commuter lines" get a "seat subsidy" for empty seats in order to maintain the connections ! Take a look at the early history of airlines ! They were subsidized - via mail contracts with the USPS - and enabled the growth of commercial air passenger traffic, not to mention supporting early development of Boeing, Lockheed, Northrup and Douglas manufacturers ! Think what WW2 would have been like sans the products of these manufacturers !

So, don't be too quick to jump aboard the antis "Big Oil Train" ! A wreck there would have critical impact on our lives and the future of America ! >MW

[Marlin T]

This is about the same article but please not the date as 2005.




The Top 50% pay 96.54% of All Income Taxes

(The top 1% pay more than a third: 34.27%)

October 04, 2005 BEGIN TRANSCRIPT
This is the data for calendar year 2003 just released in October 2005 by the Internal Revenue Service. The share of total income taxes paid by the top 1% of wage earners rose to 34.27% from 33.71% in 2002. Their income share (not just wages) rose from 16.12% to 16.77%. However, their average tax rate actually dropped from 27.25% down to 24.31%

*Data covers calendar year 2003, not fiscal year 2003
- and includes all income, not just wages, excluding Social Security
Think of it this way: less than 3-1/2 dollars out of every $100 paid in income taxes in the United States is paid by someone in the bottom 50% of wage earners. Are the top half millionaires? Noooo, more like "thousandaires." The top 50% were those individuals or couples filing jointly who earned $29,019 and up in 2003. (The top 1% earned $295,495-plus.) Americans who want to are continuing to improve their lives, and those who don't want to, aren't. Here are the wage earners in each category and the percentages they pay:
The top 1% pay over a third, 34.27% of all income taxes. (Up from 2003: 33.71%) The top 5% pay 54.36% of all income taxes (Up from 2002: 53.80%). The top 10% pay 65.84% (Up from 2002: 65.73%). The top 25% pay 83.88% (Down from 2002: 83.90%). The top 50% pay 96.54% (Up from 2002: 96.50%). The bottom 50%? They pay a paltry 3.46% of all income taxes (Down from 2002: 3.50%). The top 1% is paying nearly ten times the federal income taxes than the bottom 50%! And who earns what? The top 1% earns 16.77% of all income (2002: 16.12%). The top 5% earns 31.18% of all the income (2002: 30.55%). The top 10% earns 42.36% of all the income (2002: 41.77%); the top 25% earns 64.86% of all the income (2002: 64.37%) , and the top 50% earns 86.01% (2002: 85.77%) of all the income.
I have made an executive decision as the owner and ultimate editor of this website that this table and these numbers stay on this website forever - updated when each year's numbers come out, of course. In order to get these facts, you have to see them each and every day. This story, along with a link to the IRS chart, will stay somewhere on the RushLimbaugh.com homepage so everyone can see and find these numbers at any time. It's crucial that people get this, so please, share it with a friend now!

[millwright]

Originally Posted by dustydog

Frankly,none of the tax code makes any sense.Lets scrap the current code and go back to the tax structure of the Second World War.Most big companies would shy away from that structure like the plague,and the howls from folks that directly profit from having our kids in harms way would be heard in Congress within seconds.

I'd say America, and Americans would be far better served by a gradual imposition of a "flat tax" and sunsetting of the extant tax/tarriff structures ! But don't expect any politician to support it ! The current tax code - and its convoluted/confusing complexity is their child; and jealolusly guarded one at that ! >MW

[gcalloway]

Any one that thinks business actually pays tax has not thought through the equation. Tax is an expense to a company just like raw materials and labor. The business has to make a profit to stay in business therefore the tax it has to pay is rolled into the cost of goods/services produced. They cannot stay inbusiness if it is not part of the equation. This tax on business is imbedded into product and therefore eventually passed down to the untimate consumer. Those who buy anything pay all of the tax even if they do not pay income tax.

[carver]

Those who buy anything pay all of the tax even if they do not pay income tax.

True, but those in the lower 50% are buying on your dollar!

[carver]

If you want to understand better why America is teetering on the brink of bankruptcy, consider this depressing statistic: Today in America there are nearly twice as many people working for the government (22.5 million) than in all of manufacturing (11.5 million). This is an almost exact reversal of the situation in 1960, when there were 15 million workers in manufacturing and 8.7 million collecting a paycheck from the government. Add to that the 48% that are not gainfully employeed, and you have a disaster in the making!

[jedwil]

Originally Posted by carver

If you want to understand better why America is teetering on the brink of bankruptcy, consider this depressing statistic: Today in America there are nearly twice as many people working for the government (22.5 million) than in all of manufacturing (11.5 million). This is an almost exact reversal of the situation in 1960, when there were 15 million workers in manufacturing and 8.7 million collecting a paycheck from the government. Add to that the 48% that are not gainfully employeed, and you have a disaster in the making!

The numbers are astonishing and quite frightening. Unsustainable.

[graehaven]

Originally Posted by dustydog

Frankly,none of the tax code makes any sense.Lets scrap the current code and go back to the tax structure of the Second World War.Most big companies would shy away from that structure like the plague,and the howls from folks that directly profit from having our kids in harms way would be heard in Congress within seconds.

And that was under one of the most OPPRESSIVE dictatorship presidents we've ever had. I wouldn't want to have lived under FDR - he nearly killed the country. He's a hero to Obama and like progressive socialists. No thanks!

[Old Grump]

Deleted because of bad spelling, I need a new keyboard bad.

[Old Grump]

Originally Posted by carver

If you want to understand better why America is teetering on the brink of bankruptcy, consider this depressing statistic: Today in America there are nearly twice as many people working for the government (22.5 million) than in all of manufacturing (11.5 million). This is an almost exact reversal of the situation in 1960, when there were 15 million workers in manufacturing and 8.7 million collecting a paycheck from the government. Add to that the 48% that are not gainfully employeed, and you have a disaster in the making!

Do you have a link for these numbers?