Where did the myth of "historically high taxes on the wealthy" come from?

You couldn't find any source to back up your assertion, eh?

Not surprising when you post false information.

 

Yeah, now that song is about 15 more verses longer.

 

I actually went through this before, and I am looking for it. I will get back with it later, sorry. I am out of time and need to go.

 

its been appropriate ever since taxes were invented.

 

Could be. While George was talking about England, in the 1950s, the top tax rate in the US was 91%, pretty close to "one for you nineteen for me." "One for you ten for me" would have worked.

Now with the tax rate at 35% George would have to sing, "there's two for you and one for me."

And if he was talking about trust fund babies and hedge fund managers, who pay a max 15% investment tax, it would be: "there's 7 for you and one for me"

George probably would have skipped the song altogether today.

 

lol. 15? understatement of the day!

 

I'll save you the effort. This proves your data is wrong.

http://www.cbo.gov/publications/collections/tax/2010/tax_liability_shares.pdf

 

You could've just said that you don't understand the graph instead of trying to cover it with an inane statement ...

 

Are you really ignoring the data or just ignorant of who actually owns the bulk of the wealth in this country?

Ah yes, another favored right-wing meme that is a complete falsehood. While 50% of "working" Americans don't pay federal INCOME tax, they do in fact pay other taxes at the state and local level. That statement also fails to acknowledge that it's not just the "working poor" who do not pay income taxes because it would be ridiculous to even try and tax someone making 8-10k a year which would most likely require them to go on public assistance, there are also quite a few wealth who escape the taxman as well.

As for the "most of them get more money back then they put in that year", I'd like to see a source for that.

Please source this as well. I'd just like to have a baseline of where we are arguing from before committing to any thing longer than a few snarky posts.

 

How can anyone that does not have their head up the Arse of the TEA Party not believe Warren Buffet when he says the rich are screwing the country.

 

Found one, not the one I was looking for though, but this will do.

 

That chart accurately portrays the share of taxes paid by the top 1% as being approximately 22%, consistent with the CBO data I linked above (excluding corporate taxes).

 

So? You jealous? Seems like you just hate people that have money.

And so do the rich. The rich don't get out of those taxes, they actually pay more overall because they spend more money, because the have it. Another reason to vote people in to get a consumption tax vs a federal income tax that is slanted against the rich.

Since I have actually made that little amount of money before, let me break it down for you. Every paycheck, that money is still taken from their paychecks not to be seen of again till they file the tax statements. So in essence, they are just giving the government some money to hold on to till they file their taxes. I bet you no one is starving to death because they don't have that tax money for 12 months. So really, in all essence, not giving refunds for 100-300% of what they paid in is not going to make these people starve throughout the year. Generally, these "refunds" are spent on big ticket items because they feel they are entitled to the big screen TVs or the new computer, or rims, or trips to somewhere. This is the very essence of spreading the wealth that the Progressives wanted from the beginning of this tax system.

Will be back to provide the numbers.

The data I found did not give the numbers I stated of the 2%, but only gave me the break down for 1% and the next 4%. So, using 5%, I would revise my statement and say the top 5% make 35% of the income and pay 38% of the tax revenue, compared to the next 95% who make 65% of the wealth and pay only 62% of the revenue. Seems like the top 5% is paying easily their "fair share".

If you don't think that is fair, what would you say is "fair"?

 

And they pay more of the tax revenue percentage than they make of the nations income percentage. Seems like they pay their fair share alright.

 

Here is my source.

 

The pay barely more in taxes than they earn percentage wise, reflecting how less progressive our tax system has become.

The graph you posted in effect is pretty close to a flat tax.

 

I don't think that graph means what you think it means. If anything, it undermines the meme that is prevalent in your previous posts.

 

How so? The rich pay more % than they make. That was my point and I asked if this is not fair, what do you think is "fair"?

 

Found the one I was looking.



From this article.

 

You said, specifically:

Your graph proves that the top FIVE PERCENT only pays ~38% of taxes.

You were way, way off, and made yourself seem pretty silly.

 

You missed the revised numbers I put didn't you?

 

According to CBO data, in 1979, the average after tax income of the richest 1% was 326,400 (2005$). The average after tax income of the bottom 20% was 14,400. That means the average income of the top 1% was 22.7x more than the average for the bottom 20%.

In 2005, the average after tax income of the richest 1% was 1,071,500 (2005$). The average after tax income of the bottom 20% was $15,300. That means the average income of the top 1% was 70x more than the average for the bottom 20%.

http://www.cbo.gov/doc.cfm?index=8885

How much richer do we need the richest to be before you think it is fair to shift the tax burden back more to the richest?

 

That chart does not support your initial claim:

The chart you posted above only relates to income taxes, which only make up 43% of all federal taxes paid.

 

And to say the poor are really poor is a fallacy. You are jealous, its ok. But you don't have a right to their money no matter how much they have. Quit crying about the money other people made, you can still make your own riches if you try. There are new millionaires made everyday. Try applying yourself instead of crying yourself to sleep about how "its not fair."

Those numbers mean nothing in the grand scheme of things and only promotes more class warfare and division amongst the masses.

But, "The world needs ditch diggers too." - Judge Smails (Caddy Shack)

 

Why would you assume I'm jealous? Is it because you are greedy?

Warren Buffet thinks taxes on the richest should be raised too. Is that because he's jealous too?

They mean that since Reagan, the richest have gotten far richer while the poorest have stagnated.

So much for tinkle down economics.