Top 1% paying high % tax than ever before

"Though tax cuts for the rich were bigger than those for other groups, the wealthiest families paid a bigger share of total taxes. That is because their incomes have climbed far more rapidly, and the gap between rich and poor has widened in the last several years."

from the third link.

The income gap thing and Robber Barrons era resurgance.
 
Topspin said:
This is going to be tough for the anti business turbo libbers.

I'm not looking up a fucking link on a news story I saw on television.
Feel free to google and dig to prove it wrong.

Assume for a second that it is true which it is.
What percentage of total taxes should they pay?

Also to my point, most or very many middle class plan to one day be rich and don't want the rich attacked.
I'm a dem talking to dems to increase the tent size.
Remember without Iraq, no majority.
Think strategically and win in 08
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Im not anti-business, Im anti-greed. I'm anti-changing all laws and destroying borders to suit the needs of business while ignoring the needs of people, who fought and died for this nation, only to be sold out in the name of "The New World Order".
 
uscitizen said:
"Though tax cuts for the rich were bigger than those for other groups, the wealthiest families paid a bigger share of total taxes. That is because their incomes have climbed far more rapidly, and the gap between rich and poor has widened in the last several years."

from the third link.

The income gap thing and Robber Barrons era resurgance.
Click to expand...

I definititely think there is a widening gap, but I'm not necessarily convinced that the source of that is our tax code. I think its going to be attributed to offshoring and meeting Wall Street's expectations.
 
LadyT said:
I definititely think there is a widening gap, but I'm not necessarily convinced that the source of that is our tax code. I think its going to be attributed to offshoring and meeting Wall Street's expectations.
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I agree that the tax codes are not the main reasons for the income gap and agree with your causes as well. However the tax code is helping to grow the gap. Read the third link you posted. btw the only one I have had time to read so far...apologies...
 
uscitizen said:
I agree that the tax codes are not the main reasons for the income gap and agree with your causes as well. However the tax code is helping to grow the gap. Read the third link you posted. btw the only one I have had time to read so far...apologies...
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Well, and again, I've seen conflicting reports, but if the first one is correct and and top 1% is paying ~30% in all of income taxes and they only make 16% of the entire pool, in my opinion they are paying twice as much as they should. If it were an ideal situation it would be one-for-one not 1 for 2. But honestly I think in grand scheme of things we are collectively focused and divided on the wrong thing. Politicians pounce on the divide to distract us from what I consider to be a more pronounced and bigger problem and that's their irresponsible spending and funding the war machine so their lobbyists are pleased and their pockets are lind. I personally think we should all be more focused on the waste than trying to make other people chip in to fund their drunken spending.
 
We have had a "progressive " rate type of tax system for Many Many years.
actually I prefer a pure flat tax system, no deductions, everyone just pays 10% or whatever on all income.

The federal income tax started out at 1% and only the top 1% or so paid anything at all.
 
Vat only tax. I am not sure, but it would drop the upper one percents taxes a bunch since they don't spend much of their income vs the lower percentiles who spend all of theirs plus more. I guess it would be a tax on items purchased on credit as well ?

Then if items purchased on credit are repossed , do you get a tax refund ?
 
I'd be tempted to leave out housing expenses to a certain limit - county average perhaps. But I don't see how an item getting repossed would really affect the individuals tax liability. It be the same as a car getting repo'ed.
Maybe investment taxes would be a flat 10 - 15% all around? I've become a lot more open to new tax structures lately. There's a lot you can do.
 
Wouldn't it be great if we could incorporate ourselves and get taxed on our net earnings for the year after we pay rent, bills and entertainment bills?

I like that better that you progressive consumption tax.
 
uscitizen said:
Vat only tax. I am not sure, but it would drop the upper one percents taxes a bunch since they don't spend much of their income vs the lower percentiles who spend all of theirs plus more. I guess it would be a tax on items purchased on credit as well ?

Then if items purchased on credit are repossed , do you get a tax refund ?
Click to expand...
You don't now, why would you think that would change?
 
Wouldn't it be great if we could incorporate ourselves and get taxed on our net earnings for the year after we pay rent, bills and entertainment bills?

I like that better that you progressive consumption tax.

I've always said I should get tax exempt status since I am part of a non profit organization...a family.
 
Why should every one else subsidise thru taxes other peoples children ? If you can't afford em don't get em.

I noticed everyone jumped on the repossession thing and ignored the other points I made on VAT.
hmmm
 
I didn't say subsidize me I said give me tax emempt status. I'm a charitable organization. Most of my proceeds go toward the welfare of others.
 
I would just like to incorporate myself so I could truely deduct all job related expenses like a corp. Mileage driving to from work, etc...
of course corps have the benefits of being individuals, but individuals do not get the advantages of corps....
 
Truthfully in an income tax based system I don't think corps should pay taxes at all.

Corps are not people and the only way they would use money is to either transfer it to others or create more.

It is individuals which are consumers and they should be the ones taxed.

Money in the hands of a corp are useless until put into a human's hands.
 
But corps have rights of individuals in campaign donations...and other issues.
they can't have their cake and eat it too.
 
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