Could be worse? This is how it is. Romney supports the Ryan budget. He thinks its good economic policy. He wants to gut schools and infrastructure spending and give the military more money than they asked for.
Joined: 06 Dec 2004 Posts: 6382 Location: Ironton, Boyne City, Charlevoix, East Jordan, Salida
Posted: Tue Apr 10, 2012 9:23 pm Post subject:
something should be done about the school system. like having parents pay for it? it's just free child care.
otherwise, these guys are just more of the same default crap the repubs keep shoveling out. the rich get richer and the poor pay for it. j
Joined: 03 Feb 2009 Posts: 820 Location: So. Vermont
Posted: Tue Apr 10, 2012 10:18 pm Post subject:
Nah, looks like the same old crap this election cycle - Liberals bashing the other guy because they can't defend their own. Then following it up by making fun of fat people. Nice work Chewman.
The top 1% of earners pay an average tax rate of 24.01% and are responsible for 36.7% of all federal income tax collected. The bottom 50% pays 1.85% and just 2.3% of taxes collected.
The top 25% of earners pay 87% of the total income tax collected, the top 50% 97.7%.
As it should be, the poor aren't paying for anything, but class warfare is so just hip these days.
Joined: 07 Dec 2004 Posts: 1688 Location: North Ogden, Ut or upstate NY
Posted: Tue Apr 10, 2012 10:38 pm Post subject:
Obama ran on a platform of hope & change. He produced failure. There's an old trial lawyers adage: "If you have the facts on your side, try the facts. If you have the law on your side, try the law. If you don't have either, try something else." What else does Obama have now except class warfare? _________________ You know it's a good day when you wake up in the morning.
Joined: 07 Dec 2004 Posts: 5934 Location: Flying over the Earth poisoning you with chemtrails
Posted: Tue Apr 10, 2012 10:54 pm Post subject:
So JPL who can best afford to pay? And I think you should check your numbers, they have changed. Middle class are paying the bills now.
JPL wrote:
jellero wrote:
the rich get richer and the poor pay for it.
The top 1% of earners pay an average tax rate of 24.01% and are responsible for 36.7% of all federal income tax collected. The bottom 50% pays 1.85% and just 2.3% of taxes collected.
The top 25% of earners pay 87% of the total income tax collected, the top 50% 97.7%.
As it should be, the poor aren't paying for anything, but class warfare is so just hip these days.
For your edification:
Quote:
Here are facts:
Claim: The top 10 percent wealthiest Americans pay 70 percent of federal income taxes.
Fact: This statistic presents a deeply misleading picture of the actual federal tax burden because (1) it fails to include payroll taxes, which every worker pays, and which fall disproportionately on the middle class, and (2) because it doesn’t reflect that high-income Americans earn a disproportionate share of income.
Payroll taxes account for 34 percent of federal revenues. They only apply to income earned on the job – not income from capital gains on investments, which make up a much greater share of the income of the top 10 percent. And payroll taxes for Social Security are capped at $106,800.
For both of these reasons, wealthier Americans face a disproportionately lower burden from payroll taxes. According to the independent, non-partisan Congressional Budget Office, the wealthiest 10 percent only pay 25 percent of all payroll taxes.
Counting both payroll and income taxes, the top 10 percent only pay about 50 percent of that tax burden – not much larger than their share of our nation’s income (around 42 percent).
The top 10 percent (households earning an average of nearly $400,000) has been earning a larger and larger share of our nation’s income. Twenty years ago, they accounted for 34 percent of our nation’s income. In the past twenty years – as tax rates have fallen for the highest earners – the income share of the top 10 percent has grown to 42 percent of our nation’s earnings.
This aggregate figure also masks the fact that certain high-income Americans pay far less than others—and less than the middle class. That’s what the Buffett Rule is meant to address.
Claim: The 1 percent of households with the highest incomes pay 38 percent of federal income taxes.
Fact: This statistic again ignores the payroll taxes that every working American pays, and the fact that incomes of the top 1 percent have increased rapidly in recent years.
As with calculations about the tax burden of the top 10 percent, this claim ignores payroll taxes that every American worker pays, but fall much less on the highest earners.
In fact, the top 1 percent of all Americans only pay 4.1 percent of the nation’s payroll taxes. Overall, they pay about one-quarter of federal income and payroll taxes.
While this may seem like a high share, consider that over the past twenty years, the portion of our nation’s income going to the top 1 percent (households earning an average of nearly $2 million) has nearly doubled – from 11 percent in 1987 to 19 percent in 2007 (the latest year for which the CBO publishes tax burden data).
While the top 1 percent pays about one-quarter of our federal income and payroll tax, they also earn 19 percent of our nation’s income.
Claim: 46 percent of households pay no federal income tax at all.
Fact: Around 82 percent of Americans pay income or payroll taxes, and those who don’t are mostly elderly people.
Ignoring payroll taxes presents a particularly misleading picture for middle income taxpayers.
In fact, according to the independent, non-partisan Tax Policy Center, around 82 percent of Americans pay income or payroll taxes.
As confirmed last week in a “Reality Check” article by the Washington Post, of the remaining 18 percent, 10 percent are elderly people who generally don’t earn salaries or wages, and 7 percent are people with incomes under $20,000 per year. As the article explains, of the people who pay no federal income or payroll taxes, “most are low-income workers or elderly living only on Social Security.”
Claim: The average taxes paid by millionaires is high enough to make the Buffett Rule unnecessary.
Fact: This is misguided on several grounds.
Millionaires faced an average income tax rate of about 24 percent as of 2009 according to IRS data (and payroll taxes should add very little to that—in the range of 1 to 1.5 percentage points).
However, the Buffett Rule is not about all taxpayers or even the average taxpayer making over $1 million. Instead, it is about those who are able to pay lower taxes than middle-class families.
Take IRS data on the taxes paid by the 400 highest-income households in 2008, all making over $110 million per year and making an average of $271 million per year. Some of those 400 taxpayers do pay their fair share, but according to that data, one-third of this group pays less than 15 percent of their income in taxes and 85 percent pays less than 30 percent.
Indeed, a full 22,000 households making more than $1 million annually paid less than 15 percent of their income in taxes in 2009, according to analysis of the IRS 2009 Statistics of Income file by the Treasury Department’s Office of Tax Analysis. And 165,000 households making over $1 million paid less than 30 percent of their income in taxes.
Second, even looking at averages provides strong evidence of how unfair our tax code has become. That same IRS data shows that the average income tax rate for the most well off 400 earners was only 18.1 percent in 2008 and 16.6 percent in 2007. (This does not count the impact of the payroll tax, which is trivial for these taxpayers since only a tiny fraction of their income is subject to the payroll tax). These exceptionally low effective tax rates paid by the most well-off do violate the Buffett Rule because they are lower, and at times significantly so, than the amount some middle-class families may pay in income and payroll taxes. For example:
A single, self-employed business owner earns $70,000. In income and payroll taxes, this middle class business owner pays about 28 percent of income in taxes. That’s 50 percent higher rate than the average tax rate on the top 400.
And, at the margin, a middle-class family can pay 15 percent, 25 percent or 28 percent of what they earn in income taxes — plus additional payroll taxes on top of that. That’s far higher than the less than 15 percent of income in federal taxes that some of the most well-off Americans pay. Does it seem right that an American who makes over $110 million pays an effective tax rate of about 18 percent, but if they had a fire at their house, those who would be risking their lives to put the fire out, could be seeing far more taken out of their every additional dollar earned while they are risking their lives?
For example, a nurse makes an average wage for her occupation of $68,000 and has one child. When she chooses to work overtime, her additional earnings are taxed at 25 percent by the income tax. And payroll taxes add even more.
The top 1% of earners pay an average tax rate of 24.01% and are responsible for 36.7% of all federal income tax collected. The bottom 50% pays 1.85% and just 2.3% of taxes collected.
The top 25% of earners pay 87% of the total income tax collected, the top 50% 97.7%.
As it should be, the poor aren't paying for anything, but class warfare is so just hip these days.
Here's the hip classwarfarer in chief firing the artillery for the faithful at Florida Atlantic University today. I assume this is the basic form and content of the stump speech he'll be delivering from here until November. Ready for dissection:
Howdy-hi's go to about 3:30 w/the actual content starting around 4:30.
Now that Romney is free of primary politics, I expect the his folks are busy constructing a national campaign version of a response to this and that it will be coming out asap. It should be pretty straight forward and easy to do. In the end, Romney has the stronger message and firmer ground to stand on, so watching him deliver that message and whittle down Obama's class warfare approach will make for good political theater.
Joined: 07 Dec 2004 Posts: 1688 Location: North Ogden, Ut or upstate NY
Posted: Tue Apr 10, 2012 11:39 pm Post subject:
And we can hear more from slobbering steve whenever his wife says he can use the computer. _________________ You know it's a good day when you wake up in the morning.
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