US Taxes---Who pays what.

[wizard1]

In actual fact, Americans in the top 10% of income pay 68% of federal taxes. Higher taxes on upper income Americans will accomplish nothing except to increase unemployment, lower economic growth, and prolong the current downturn.

It has been proven time and time again that we cannot tax our way out of a recession. The downturn will only end when we find ways to foster the growth of the GDP, primarily by helping American small and medium businesses to expand and grow.

[tornado]

as was posted elsewhere -- the top 1% pays 38-40% of the taxes, the top 10% pays 70% and the bottom 50% of earners pay only 2.7% of taxes.

[SFP]

as was posted elsewhere -- the top 1% pays 38-40% of the taxes, the top 10% pays 70% and the bottom 50% of earners pay only 2.7% of taxes.

That is true but do you guys know what the the top 1% earn and what % they pay of their earnings? Take the top 5% for that fact. The middle class pays the most taxes on average as a % of their earnings. The richest Americans have the means to have the best tax consultants and have the means to help shape favorable tax codes in their favor. I could post a few links but let's not spin this away from facts. Another fact is that the top 1% earns more then the bottom 50% combined. The bottom 50% is just getting by for the most part. I'm a capitalist at heart but only when there are truly a transparent system in which the middle class get a fair deal. Right now all the laws and government structures are in a overwhelming favor for the very rich.

The biggest liability in our economic structure IMO is the declining hardworking middle class.

[sousaman2089]

I was sitting in a American Lit. 1860-2000 class at BU and our professor was talking about how families who make more then $200,000 a year would be put into a newer/higher tax bracket and pay more.

My initial reaction: $200,000 a year???? That's a ton of money!
Girl right next to me: $200,000 a year???? That's nothing!

Discussing money with lots of people on a sports forum= always a good idea.

[Chico]

That is true but do you guys know what the the top 1% earn and what % they pay of their earnings? Take the top 5% for that fact. The middle class pays the most taxes on average as a % of their earnings. The richest Americans have the means to have the best tax consultants and have the means to help shape favorable tax codes in their favor. I could post a few links but let's not spin this away from facts. Another fact is that the top 1% earns more then the bottom 50% combined. The bottom 50% is just getting by for the most part. I'm a capitalist at heart but only when there are truly a transparent system in which the middle class get a fair deal. Right now all the laws and government structures are in a overwhelming favor for the very rich.

The biggest liability in our economic structure IMO is the declining hardworking middle class.

The hardworking middle class is helping take care of the ones who would rather be taken care of than become part of the middle class.

[SFP]

The hardworking middle class is helping take care of the ones who would rather be taken care of than become part of the middle class.

Yes they are and also feeding the corporate welfare machine! It's time for the American middle class to wake up and start looking for candidates that are not influences by special interest groups but are truly working for "We The People." I know I sound like a populist or a Tea Party person (which I'm far from) but they are right about a few things and one is that the hard working American needs to take the country back from the people looking for hand outs being the lazy poor or the corporate handouts.

Does anyone have the amount of money given to the huge corporate farms to not plant certain crops and the subsidies given for certain others? $Billions!

[sousaman2089]

I know I sound like a populist or a Tea Party person (which I'm far from) but they are right about a few things and one is that the hard working American needs to take the country back from the people looking for hand outs being the lazy poor or the corporate handouts.

Problem is, the Tea Party has shown no signs of being able to gather under one banner and do anything on the national stage.

[SFP]

Problem is, the Tea Party has shown no signs of being able to gather under one banner and do anything on the national stage.

My belief is that the real problem is special interest and their seemingly ability to raise limitlessness amount of money for their causes. If you people do not believe that cash is king when it comes to politics then there is not much I can say. He who raises the most has the greatest chance of winning.

[Chico]

Yes they are and also feeding the corporate welfare machine! It's time for the American middle class to wake up and start looking for candidates that are not influences by special interest groups but are truly working for "We The People." I know I sound like a populist or a Tea Party person (which I'm far from) but they are right about a few things and one is that the hard working American needs to take the country back from the people looking for hand outs being the lazy poor or the corporate handouts.

Does anyone have the amount of money given to the huge corporate farms to not plant certain crops and the subsidies given for certain others? $Billions!

Glad to see you finally included the lazy poor.

[SFP]

Glad to see you finally included the lazy poor.

Trust me Chico you and I see eye to eye on this subject! I'm really incensed when housing is given to them while we have working Americans who would like a house themselves but cannot afford it. I just want to point out that there are other groups that are also parasitic and to me no better.

[Chico]

Trust me Chico you and I see eye to eye on this subject! I'm really incensed when housing is given to them while we have working Americans who would like a house themselves but cannot afford it. I just want to point out that there are other groups that are also parasitic and to me no better.

A big corporation took care of me and many others for years. I don't mind helping to take care of the unfortunate through no fault of their own by my taxes. It's the gimme, gimme group I don't feel sorry for.

[AZ BU Fan]

I agree subject/thread should be moved to Other Sports Forum as an OT.

One of the things Republicans have talked about doing is reducing the Federal Government and lowering the Federal Tax burden, and, let states decide what they want to fund via state taxes. The theory is that at the state level, voters will have more control over what they want to support via gov and would hold the state gov more accountable for what it taxes and spends. The idea is to start cutting back on the large, unaccountable, national government running everyone's lives with your money.

The Federal Tax rate/charge is just one part of the total tax load an individual bears...Looking at Federal Tax rates alone is not the whole story of taxation....People may be surprised at the amount of their total tax burden including Fed, Social Security, Medicare, Medicaid, State, Local, Property, Personal Property, Sales, and, the "hidden taxes" on gasoline, car registration/license, phone/cell phone bills, cable tv/internet service, water/sewer/electricity/gas bills, airplane tickets, car purchases, hotel rooms, other entertainment purchased, rental cars....I am sure there are more hidden taxes I haven't come up with....These are in addition to the fees the gov charges directly for some of the services they provide.

PS - For those who don't like the dialogue/topic on a Sports Forum, the simpliest solution is to not open the thread!

PPS, this subject first surfaced in the "Should College Athletes Be Paid?" thread in a post noting the 'trickle down' theory of the oppostition party not working and taxes needing to be increased. Conservative posters on the Forum could not pass on the opportunity to reply.

[TylerDurden]

Ah politics, where the competitors are the same person with a different mascot.

Until we elect politicians who aren't interested in being re-elected, we can forget about fixing our debt, deficit or changes to our tax burden.

They all spend too much and decide the only way to fix it is to tax.

Right, left, conservative, liberal -- they're all the same, with different catch phrases.

Yes, I'm jaded about politics.

[Da Coach]

Even though these kinds of topics usually lead to political squabbles, we've moved it here to the general topics forum.

I do agree with the progressive income tax schedule, as I believe most taxpayers do. But the statistics stated above are essentially true.
In 2008, the top 1% of earners paid 38% of all income taxes, the top 10% paid 70% of all income taxes, and the top 50% paid 97.3%!
Here is the breakdown-

http://ntu.org/tax-basics/who-pays-income-taxes.html

Even NPR, not exactly a conservative voice, admits that in 2009, 47% of all wage earners did not pay any federal income taxes-

http://www.npr.org/templates/story/story.php?storyId=125997180

[Braves4Life]

The biggest liability in our economic structure IMO is the declining hardworking middle class.

In yesterday's world the "hardworking middle class" did not own 3 color TV's, multiple computers and cell phones, 2 or more new cars, video games, and eat out many times weekly. I was raised in that class 20+ years ago and can tell you we did not miss what we did not have. This, I believe SFP, is where the problem lies with today's middle class.

My initial reaction: $200,000 a year???? That's a ton of money!
Girl right next to me: $200,000 a year???? That's nothing!

I can tell you sousaman that in today's world $250,000 is NOT a lot of money. It is firmly upper middle class in most communities. Once you join the working world and have a family who you must house, feed, educate, provide entertainment for, while saving for both college and retirement you will find that $250,000 does not go far.