Post by jim <"sjedgingN0Sp"@Post by jim <"sjedgingN0Sp"@Post by Klaus SchadenfreudePost by jim <"sjedgingN0Sp"@Post by Rudy CanozaThe fortunate 400 people with the highest adjusted gross incomes
still made, on average, $202 million each in 2009, according to
Internal Revenue Service data. And this doesn't even count income
that doesn't show up as adjusted gross income, such as tax-exempt
interest.
Yet the top 400 paid an average federal income tax rate
We're not interested in their "rate", you stupid fuckstain. HOW MUCH
DID THEY PAY?
In fact, fuckstain, the rich pay a larger share of tax than their share
of income. People in the top 1% receive about 25% of income, but
they pay 40% of total income tax.
The rich pay far more than their share.
No they don't.
Yes, they do.
Post by jim <"sjedgingN0Sp"@Income tax only covers 1/3 of federal expenditures.
We're only talking about income tax.
That's right I'm only talking about income tax
Individual income tax only covers 1/3 of federal
expenditures.
Which is irrelevant to whether or not the wealthy pay the lions'
share or not.
It's irrelevant to whether they pay the piss ant's share also.
The income tax of the wealthy pays for about 13% of
govt expenditures. That is a fact.
You can spin that to say that is more than a
lion pays and that would be true.
"Spin" this, Jimmy:
John Stossel: Tax The Rich? The Rich Don't Have Enough. Really.
...
Progressives say, if you're so worried about the deficit, raise taxes! There
are lots of rich people around, squandering money. On my show, David Callahan
of the group Demos put it this way: "Wealthy Americans who have done so well
in the past decade should help get us out."
But it's a fantasy to imagine that raising taxes on the rich will solve our
deficit problem. If the IRS grabbed 100 percent of income over $1 million,
the take would be just $616 billion. That's only a third of this year's
deficit. Our national debt would continue to explode.
It's the spending, stupid.
...
Progressives want to take more money from some---by force---and spend much of
it on programs that have repeatedly failed. It sounds less noble when plainly
stated.
Progressives claim an increase in tax rates won't stop producers from
producing. But they presumably understand that people don't work for free.
When the top marginal rate was 90 percent, actor Ronald Reagan worked just
half the year. As soon as he made enough money such that every additional
dollar was taxed at 90 percent, he stopped working and went off to ride
horses. Reagan later said that woke him up to the damage that high taxes
impose.
Maryland created a special "tax on the rich" that legislators said would
bring in $106 million. Instead, the state lost $257 million. Some of
Maryland's rich just left the state. When New York state hiked its income tax
on millionaires, billionaire Tom Golisano moved to Florida, which has no
personal income tax. "[M]y personal income tax last year would've been
$13,800 a day," he told us. "Would you like to write a check for $13,800 a
day to a state government, as opposed to moving to another state?"
...
http://www.forbes.com/sites/danbigman/2012/04/03/john-stossel-tax-the-rich-
the-rich-dont-have-enough-really/
Also:
What The Combined Wealth Of All 1,426 Billionaires Could Do
By Brian Solomon, Forbes Staff
...
If they were feeling charitable, they could donate the money [their combined
wealth of $5.431T] to the U.S. national debt, but that would only pay it down
by a third."
...
http://www.forbes.com/sites/briansolomon/2013/03/04/what-the-combined-wealth-
of-all-1426-billionaires-could-do/
