Top 20% of Americans Will Pay 87% of Income Tax

No it is not.

 

No it is not what?

If you pay no state sales tax, no excise taxes etc than you are a remarkable person. the income tax most certainly is only one of many taxes most Americans pay.

 

Yes, but as I described in my last post, an 'individual' is not always what an 'individual' appears to be.

Suppose you own a company, and you show yourself as a company employee, making $100/month. That creates an official picture to the IRS. But, now suppose that you have a proxy shareholder called "XYZ Corporation" in an offshore shell-company with a foreign subcontractor who "pays" you a 'consulting fee' to your account in a bank in Malta...? And that's where you make your equivalent of $2 million per year! You see how convoluted and confused this gets? The government tax collectors only see what rich taxpayers ALLOW it to see, nothing more. And, confronted with smart tax attorneys, the government is BLIND!

 

Even if what you state is true, what is being reported to the IRS says that the rich continue to pay the vast majority of taxes.

 

Well, sure, the rich pay more than "Hobo Joe"... no contest there. Hell, half the population doesn't pay any income tax at all! But do the rich pay what they are supposed to pay, based on a "level playing field" and their REAL incomes...? Not a chance! They take advantage of a sweet situation for themselves....

Donald Trump himself has freely admitted that he's done this many times, and why not? If nobody FORCES you to pay what you really should pay, without all the loopholes, shelters, deductions, exemptions, etc., then why do it?! Oh, and just to be clear, I voted for Trump, and will in all likelihood do so again! A slippery-snot tax code is bad, but "1984"-style Socialism is even far worse!

 

Standard RW propaganda we've seen dozens of times over the years.

Yes, federal income taxes are progressive.

But when you add in the other taxes -- FICA taxes, state and local taxes, lower investment taxes, the richest don't pay a lot more than they make percentage wise.

But the truth isn't the propaganda they want to push.

 

This is one of those areas where we do agree, as you know. And FICA taxes are certainly not levied in a fair way -- because income thresholds are FROZEN (as you know) at $128,400 per year. Make more than that in a year? You don't pay any extra in FICA taxes. Why...?
Link: https://www.irs.gov/taxtopics/tc751

 

Well don't bother they are not requesting you do so, they and other reasoned people just want you to stop being jealous and envious of them and trying to use the US tax system to satisfy and jealousy and envy.

 

When will they be progressive enough?

Moot FICA taxes are reimbursed through the EITC

Which have nothing to do with federal taxation.

The high earners pay 23% on capital gains the lower incomes pay nothing and most of what they earn is either sheltered, I though you didn't like tax shelters, or the income tax free when it is distributed.

They pay the highest effect tax rates, they pay the highest marginal tax rates, the pay the highest share of income taxes all disproportionately higher by huge margins.

What is being pushed that is not true?

 

Because your benefit is also capped, pay anymore than that you don't get any more benefit for the money you contribute. It's a retirement system you know.

 

If you honestly believe the the wealthy control your life and your destiny I feel really sorry for you and you urge you to get your head out of somewhere else.

 

Well how much should the bottom 50% pay?

 

How are you paying for the rich?

 

So "you just wrong and don't know what you are talking about but I do but I'm not going to say what it is so there" is the best reasoned debate you got?

 

They're paying a lot less in taxes too and in fact the bottom 20% actually makes money off the tax system. And someone making $1,000,000 engages in a lot of utility with their money.

 

You are correct! And, in fairness, the benefits should also not be capped, or as I put it, "frozen". Thanks for that reminder. We should be fair to everyone, both with regard to what is collected, and what is paid!

 

And when some begin to collect $400,000 a year off SS watch the liberals have a fit. SS is a bad use of ones retirement funds, so know we don't need to force higher contributions even with a higher benefit. What we need to do is get a better return on the money invested in it and give ownership of some of the money to person contributing to it.

 

That's irrelevant.

In absolute dollars, the rich pay the vast majority of taxes.

 

"Do the rich pay what they are supposed to pay"????

WTH does that mean???

How much are they supposed to have confiscated from their pay check????

They are having more money confiscated from their paycheck than people who make less than them and therefore are paying more than they are "supposed" too.

 

the wealthy in America earn the vast majority of yearly income, therefore they deserve to pay the vast majority of income taxes.

 

And in violation of the 14th amendment's "equal protection under the law". They should tax the dollar, not the rich or poor differently. Everyone's income should be taxed at 12% at the federal level, if you make $10,000 a year or $10,000,000, you should pay the same amount on your income. NOBODY gets a FREE RIDE.

 

WHY?

 

I agree.

Flat tax rate for all.

 

Mostly because the left only focuses on confiscation of income based on affluence and NOT on consumption of resources. The top 40% get very little benefit from all taxes paid yet pay 95% of all the taxes confiscated. ****, even a cell phone user pays for all those Obamaphones, did you think they fell from heaven like manna?

 

Punish the successful people, the productive people, and reward the lazy, shiftless, single mother whores etc.