Final Tax post...

[Peter_Puget]

Maybe.. link

[Jim]

Oh not the quintile argument again. Another attempt by the neo-cons to tell us the rich are over-taxed. Blah, blah, blah. Something new and interesting please.

[Greg_W]

Oh not the quintile argument again. Another attempt by the neo-cons to tell us the rich are over-taxed. Blah, blah, blah. Something new and interesting please.

 

Geez, address the fucking issue, dude. Or, are you refusing to discuss the issue because you think that the current progressive tax is "fair & equitable" in you belief system?

[Peter_Puget]

Note that to the right of the paper are J_Bs favorites: the top 10% 5% and his fetish of choice the top 1%!

[Jim]

Oh not the quintile argument again. Another attempt by the neo-cons to tell us the rich are over-taxed. Blah, blah, blah. Something new and interesting please.

 

This has been discussed ad nauseum. If you have any knowledge of statistics you know that presenting informtion in blocks, such as quintiles, is done only to butress an argument, not provide a true measure of data. This ploy has been hashed out already. Do a search Greg.

 

Geez, address the fucking issue, dude. Or, are you refusing to discuss the issue because you think that the current progressive tax is "fair & equitable" in you belief system?

[j_b]

http://www.cbpp.org/9-23-03tax.htm

 

"Finally, the CBO data show that although the share of federal taxes that those at the top pay rose from 1979 to 2000, this increase was primarily the result of the increased concentration of income among the very affluent, not of increases in tax rates imposed on high-income households. High-income households received a much larger share of the national income in 2000 than they did two decades ago, and that naturally resulted in their paying a larger percentage of the nation's taxes. As noted above, average tax rates on those at the top of the income scale were lower — not higher — in 2000 than in 1979."

[Loose_Brie]

This is getting old. Over the last 20 years the wealth of the rich has grown faster than thier taxes. I will not try to defend that with statistics because there are so many statistics that we cannot see the forest for the trees. Yes the rich pay a huge proportion of the total tax bill. Is that fair? I don't know. Is life fair? No. Can the rich afford to pay more? Yes. I say let them pay more. They benefit from it more than most others do too.

[Jim]

Case in point - according to estimates by the Tax Policy Center an economic think-tank with a reputation for scrupulous accuracy -- the 2001 tax cut, once fully phased in, delivered 42 percent of its benefits to the top 1 percent of the income distribution. (Roughly speaking, that means families earning more than $330,000 per year.) The 2003 tax cut delivers a somewhat smaller share to the top 1 percent, 29.1 percent, but within that concentrates its benefits on the really, really rich. Families with incomes over $1 million a year -- a mere 0.13 percent of the population -- will receive 17.3 percent of this year's tax cut, more than the total received by the bottom 70 percent of American families. Indeed, the 2003 tax cut has already proved a major boon to some of America's wealthiest people: corporations in which executives or a single family hold a large fraction of stocks are suddenly paying much bigger dividends, which are now taxed at only 15 percent no matter how high the income of their recipient.

 

Yea, boo-hoo, they pay too much.

[Peter_Puget]

Corps don't pay taxes people do!

 

By the way imagine if the current trand continues and a wealthy class of Uber rich appear. Fabulously wealthy they pay only a small percent of their almost unimaginable wealth to the treasury yet they also pay 100% of the federal taxes...yes imagine..

...Imagine there's no Taxation

It's easy if you try

No poverty below us

Above a few people in the sky

Imagine all the people

Working for themselves

Imagine there's no tax freedom day

It isn't hard to do

Nothing to shelter or defer

And no evasion too

Imagine all the people

living life in peace

You may say I'm a dreamer

But I'm not the only one

I hope some day you'll join us

And the world will be as one

Imagine no IRS

I wonder if you can

No need for tax enforcement

A brotherhood of man

Imagine all the people

Sharing all the world

You may say I'm a dreamer

But I'm not the only one

I hope some day you'll join us

And the world will live as one ....

[Jim]

Corps don't pay taxes people do!

 

Duh! I'm talking about Corps now providing increased dividends to individuals at lower tax rates. Try this:

http://www.rhlschool.com/reading.htm

[Peter_Puget]

YOu guys crack me up! Especially you liberal nice guys! By the way this corp shill was just reminding everyone that the dividends had already been taxed once at the corp level.

[Jim]

YOu guys crack me up! Especially you liberal nice guys! By the way this corp shill was just reminding everyone that the dividends had already been taxed once at the corp level.

 

In early April 2004, the General Accounting Office (GAO) reported that over 60 percent of all American corporations paid no federal taxes at all from 1996 through 2000. In addition, the GAO found that corporate tax payments as a percent of federal revenue have reached the lowest level since 1983 and now stand second only to rates paid in 1934. In 1960, corporations paid 24% of all federal taxes. In the 1970's, that share fell to 15%. As recently as 1996, it was 12%. In 2002, corporate taxes made up only about 8% of U.S. revenues, in 2004, that's down again to 7.4%.