Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Dear top 1%: Y U No Pay Taxes

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » General Discussion Donate to DU
 
deminks Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-18-11 06:13 AM
Original message
Dear top 1%: Y U No Pay Taxes
Printer Friendly | Permalink |  | Top
Union Scribe Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-18-11 06:20 AM
Response to Original message
1. Lol! Gotta rec any appearance by Y U No
First time I've seen it taken off screen, though. Sweet.
Printer Friendly | Permalink |  | Top
 
orpupilofnature57 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-18-11 06:35 AM
Response to Original message
2. Cool
Printer Friendly | Permalink |  | Top
 
Cool Logic Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-18-11 07:07 AM
Response to Original message
3. Actually, they pay 38%...
Printer Friendly | Permalink |  | Top
 
iamjoy Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-18-11 07:33 AM
Response to Reply #3
4. A Rather Convenient Statistic
One that ignores the Social Security and Medicare taxes. I wish I could find the statistic on how much those amounts contribute to federal revenue coffers. Keep in mind that a minimum wage worker may not pay any federal income taxes because what they earn is too small, but they still have the payroll tax deducted from their check.
Printer Friendly | Permalink |  | Top
 
hack89 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-18-11 09:35 AM
Response to Reply #4
10. They pay payroll taxes too so we know it is not zero.
Payroll taxes for 2010 brought in $540 billion for SS and $270 billion for Medicare.

http://www.ssa.gov/oact/trsum/index.html
Printer Friendly | Permalink |  | Top
 
geckosfeet Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-18-11 07:38 AM
Response to Reply #3
5. Yes. Deceptive numbers for the mathematelically challenged.
Edited on Sun Sep-18-11 07:48 AM by geckosfeet
On edit: to add that the personal sacrifice represented by the taxes paid is not proportional or fair. The numbers also do not detail the composition of the 1% group in any meaningful way (or any other group) - simply providing the threshold income level. Those aggregate numbers mean little without an analysis of the composition of those groups, and the financial impact taxes and other economic realities have on their lives.

Also, personally, not sure I believe that the threshold income level to be a member of the top 1% club is $350k. Franky I think it is much higher.

This kind of deceptive chart making is what fuels the anger for low information/education teabagger type voters. I am actually quite surprised to see it being used to support any position on DU.
Printer Friendly | Permalink |  | Top
 
Hoosier Daddy Donating Member (271 posts) Send PM | Profile | Ignore Sun Sep-18-11 09:45 AM
Response to Reply #5
12. Righties? Mathematically challenged?
Surely you jest!

:sarcasm:
Printer Friendly | Permalink |  | Top
 
Modern_Matthew Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-18-11 10:18 AM
Response to Reply #12
14. I'm mathematically challenged as well.
They can't use that as an excuse for being that damn ignorant. :rofl:
Printer Friendly | Permalink |  | Top
 
dems_rightnow Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-18-11 11:50 AM
Response to Reply #5
17. Yeah, what would the IRS know about AGI?
Edited on Sun Sep-18-11 11:57 AM by dems_rightnow
Your beliefs and thoughts make this a tossup with their facts and figures.

Edited to add:

You realize this says "threshold", not "average" or "median"? That is, $380,00 is the poorest of the 1%'ers.
Printer Friendly | Permalink |  | Top
 
geckosfeet Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-19-11 06:06 AM
Response to Reply #17
23. Yes - that's what is says alright. In a normal distribution $350 would be
Edited on Mon Sep-19-11 06:06 AM by geckosfeet
at the extreme tail of the curve. And the mutli-billion $ incomes would be at the other end.

It would be interesting to see how the sources vary across the distribution. I would also like to see the average TAX RATES.

Even this type of cursory analysis, conveniently absent, would help remove some of the taint from this absurd chart.
Printer Friendly | Permalink |  | Top
 
former9thward Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-18-11 02:46 PM
Response to Reply #5
21. Since this is coming from the IRS I would think the burden is on you
to tell us the true numbers.
Printer Friendly | Permalink |  | Top
 
LiberalFighter Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-18-11 09:03 AM
Response to Reply #3
6. Those figures are misleading
Due to the fact that if a family of four uses only the standard deduction they would have $14,600 in personal tax exemptions and $11,400 in standard deductions for a total of $26,000 in income exempt from the federal tax.

All families with 4 in the household regardless of income would have $26,000 exempt from the federal tax. And those with $26,000 or less in income would bring down the share within the bottom 50% in the above graph because of it. How many of those within the bottom 50% percentile with zero AGI are included?

To suggest that the burden is greater on the wealthier because they pay a greater percentage of the taxes is ludicrous. The reason they pay a greater share is only because they have more income than most everyone else
Printer Friendly | Permalink |  | Top
 
Taitertots Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-18-11 09:27 AM
Response to Reply #3
7. That is the most hilariously misleading and inaccurate table I have seen in a long time
The bottom 99% of people pay 61.98% of the INCOME TAX (not the only tax), but do 99% of the work and take home 75% of the gains from their labor.

The real question about your table is does the bottom 50% contain all the people who are unemployed, disabled, retired, in college, in prison,
Printer Friendly | Permalink |  | Top
 
hack89 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-18-11 09:39 AM
Response to Reply #7
11. The bottom 50 % only includes tax filers
Why is it misleading? Are the numbers wrong? Aren't they greater then the zero that the OP states?
Printer Friendly | Permalink |  | Top
 
Taitertots Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-18-11 10:16 AM
Response to Reply #11
13. It is misleading because it doesn't take into account the distribution of incomes
If you want to avoid being misleading you should compare total tax burden as a percent of income per capita. The bottom 50% pay more as a percent of their income than the top 1%. Of course the totals are lower, the bottom 50% get next to nothing for their labor.


400 people have more wealth that the bottom 50% combined.
http://www.politifact.com/wisconsin/statements/2011/mar...
Printer Friendly | Permalink |  | Top
 
progressoid Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-18-11 02:38 PM
Response to Reply #13
19. +1
Printer Friendly | Permalink |  | Top
 
FarLeftFist Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-18-11 09:31 AM
Response to Reply #3
8. ONLY 38%?! That's freaking BS. It should be 50%!
Printer Friendly | Permalink |  | Top
 
RUMMYisFROSTED Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-18-11 09:34 AM
Response to Reply #3
9. ...and own twice that percentage of the wealth.
:think:
Printer Friendly | Permalink |  | Top
 
starroute Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-18-11 11:47 AM
Response to Reply #3
15. That's true but also misleading
For one thing, the top 1% control somewhere between 38% and 42% of all wealth in the country, so it's not surprising that they pay 38% of all taxes.

But even if you look not at wealth but at annual income, you find that the top 1% earns something like 21-23% of all income. This means, according to http://www.financialsamurai.com/2011/04/12/how-much-mon... that they average an effective tax rate of about 23%.

Combine that with the fact that for someone earning $1 million a year, the effective FICA rate becomes less than 1%, and you have a combined federal tax rate for the top 1% of around 24% -- not very different from the combined rate on a middle-class family. This is hardly what you would call a progressive tax system.

So it's not so much "why u no pay taxes" as it is "why don't you pay taxes proportionate to your wealth and to the share of the nation's expenditures that go directly into protecting that wealth and your way of life?"

Printer Friendly | Permalink |  | Top
 
ThoughtCriminal Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-18-11 11:54 AM
Response to Reply #3
18. There is a difference between
Top 1% of wealth and top 1% of income.
Printer Friendly | Permalink |  | Top
 
jpgray Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-18-11 02:43 PM
Response to Reply #3
20. How much of the top 1%'s income is taxed as capital gains?
What is the average effective tax rate on their income?
Printer Friendly | Permalink |  | Top
 
taught_me_patience Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-18-11 11:49 AM
Response to Original message
16. This is just dumb
They do pay taxes, maybe not their fare share, but they do pay taxes.

"If you ain't paying taxes you ain't making money"
Printer Friendly | Permalink |  | Top
 
lpbk2713 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-18-11 02:48 PM
Response to Original message
22. "Only the little people pay taxes."






Leona Helmsley




What a sweetheart. :eyes:


Printer Friendly | Permalink |  | Top
 
brooklynite Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-19-11 06:18 AM
Response to Original message
24. I Du Pay Taxes...
My wife and I are top 1% and pay plenty of taxes. The bottom line is whether our tax revenue is adequate to meet our spending (its not) and how the additional taxes should be allocated (we should pay more). Conflating the top income earners with companies that in fact DON'T pay taxes is an inappropriate oversimplification.
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Mon Jul 14th 2014, 12:39 AM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » General Discussion Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC