Thread Tools
Jul 19, 2012, 06:22 PM
Libertas in Infinitum
logan5's Avatar
Discussion

Percentage of income tax revenue by quintile


"fare share" ... who's not paying it?
Jul 19, 2012, 06:38 PM
Tu ne cede malis
MtnGoat's Avatar
Why, it looks like those who actually 'benefit' the most are not paying their fair share.

After all, how much more can one benefit than being in a position where we're told they cannot survive without govt... and getting the benefits to do so, without paying their fair share for them?
Jul 19, 2012, 07:03 PM
Out of Time
Where can I get some of the them thar' "quintiles"? Sounds like something a Texan should have.
Jul 19, 2012, 07:10 PM
Suspended Account
What we have here, is a progressive tax code, which by all measure, points out how much of an abject failure Modern Liberalism.. is... has been... will always be. IS IT any wonder that nearly 45% of the population vote for government? How about asking a college graduate to properly describe our country’s form of government. MORE abject failure… I simply don’t see any other outcome but full blown economic collapse, because the producers say… no more.
Jul 19, 2012, 07:11 PM
LcJ
LcJ
Forever TMWT Pilot #11
LcJ's Avatar
Quote:
Originally Posted by Highflight View Post
Where can I get some of the them thar' "quintiles"? Sounds like something a Texan should have.
You might find quintets instead.......another expensive venture.
Latest blog entry: RC Logger's Eye One Xtreme Quad
Jul 19, 2012, 08:16 PM
It's 5 O'clock Somewhere
RumRunner_1492's Avatar
Quote:
Originally Posted by logan5 View Post
"fare share" ... who's not paying it?
The top 1% make 19% of the income and pay 38% of the income tax. What isn't fair about that? They obviously need to pay more.
Jul 19, 2012, 08:41 PM
Registered User
Quote:
Originally Posted by MtnGoat View Post
Why, it looks like those who actually 'benefit' the most are not paying their fair share.
Seriously?
Well, DUH!
That's why we're helping them.
Jul 19, 2012, 09:04 PM
Libertas in Infinitum
logan5's Avatar
Quote:
Originally Posted by Rufcut View Post
Seriously?
Well, DUH!
That's why we're helping them.
You know what? If the progressives would stop yelling about other people paying their fare share .... Perhaps we could actually have a productive conversation on a national level about helping those that really do need the help.
Jul 19, 2012, 10:09 PM
LcJ
LcJ
Forever TMWT Pilot #11
LcJ's Avatar
Fair is where you go to walk on a midway. Other than that is means equitable and nothing about our tax code could be accused of being equitable.

Fair has become a state where the part that doesn't do but consume and demand more is mistreated if they don't have everything those who work have.

Some, like me, might call this a sin and a shame that our government has created an empowered group of loafers.
Latest blog entry: RC Logger's Eye One Xtreme Quad
Jul 19, 2012, 10:09 PM
U gotz cheeze burger?
RCWorks's Avatar
We need to increase the tax on the bottom 2 quintiles, they are leaches.
Jul 20, 2012, 02:20 AM
sensitive artsy type
Treetop's Avatar
Quote:
Originally Posted by logan5 View Post
"fare share" ... who's not paying it?
Your source seems to have failed basic math, or made a typo.

Here is the source of his graph, it shows the combined taxes collected by the top quintile including the top 1% is below 70%...

http://www.cbo.gov/sites/default/fil...ndFedTaxes.pdf

Another misleading bit of information from the right. The feds collect almost as much in payroll taxes as they do in income taxes, of course, the bottom four quintiles pay the lion's share of payroll taxes.

The reality:

Quote:
The top 20% makes a little more than half the money and pays about two-thirds of the federal taxes.
http://www.theatlantic.com/business/...charts/255954/
Jul 20, 2012, 09:02 AM
Registered User
Sherlock's Avatar
Well, it is not surprising that the top brackets pay what they do. They have all the money

http://www.alternet.org/economy/1457...to_get_it_back

What, should the rest of us pay tax on their money?
Jul 20, 2012, 09:36 AM
Random Pic #23982
Indiana_Geoff's Avatar
Quote:
Originally Posted by Sherlock View Post
Well, it is not surprising that the top brackets pay what they do. They have all the money

http://www.alternet.org/economy/1457...to_get_it_back

What, should the rest of us pay tax on their money?

What a scary vision...

Quote:
What could be done with all the money that has been hoarded by the Economic Elite is extraordinary!

Let's consider what we could do with the money that has been stolen from us? On top of what should be our average six-figure yearly income, we could have:

* Free health care for every American,
* A free 4 bedroom home for every American family,
* 5% tax rate for 99% of Americans,
* Drastically improved public education and free college for all,
* Significantly improved public transportation and infrastructure,

The list goes on...

This is not some far-fetched fantasy. These are all things that Franklin D. Roosevelt talked about doing in the 1940's, long before the explosion of wealth creation in our technologically advanced global economy. The money for all this is already there, stashed into the claws of the Economic Elite. The denial of wealth to the masses is the key to the Economic Elite's power. Outside of outdated and obsolete economic models and theories -- and incredibly short-sighted greed -- there is no reason why all this money should be kept in the hands of a few, at the immense suffering and expense of the many.

If Americans could just understand how much wealth is being withheld from us, we would have a massive uprising and the Economic Elite would be swept away, into the history books alongside the evil despots of the past.
All we need is a leader with the vision to take it away from them and give it to the needy. Oh wait, we already have one of those. Well, for just a few more months until he is swept into the ashheap of history.
Jul 20, 2012, 09:46 AM
Figure Nine Champ
madsci_guy's Avatar
Quote:
Originally Posted by Treetop View Post
Your source seems to have failed basic math, or made a typo.

Here is the source of his graph, it shows the combined taxes collected by the top quintile including the top 1% is below 70%...

http://www.cbo.gov/sites/default/fil...ndFedTaxes.pdf

Another misleading bit of information from the right. The feds collect almost as much in payroll taxes as they do in income taxes, of course, the bottom four quintiles pay the lion's share of payroll taxes.

The reality:


http://www.theatlantic.com/business/...charts/255954/
It's probably not misleading, your CBO page uses this definition to determine "taxes"

Quote:
Federal tax liabilities are the amount of federal taxes a household owes based on income
earned in a year, regardless of when the taxes are paid. In assessments of the impact of various
taxes, individual income taxes are allocated directly to households paying those taxes. Social
insurance, or payroll, taxes are allocated to households paying those taxes directly or paying
them indirectly through their employers. Corporate income taxes are allocated to households
according to their shares of capital and labor income. Excise taxes are allocated to households
according to their consumption of the taxed good or service.
His is income tax, yours is all Fed taxes, including excise and those paid by an employer.
Jul 20, 2012, 11:00 AM
sensitive artsy type
Treetop's Avatar
Quote:
Originally Posted by madsci_guy View Post
It's probably not misleading, your CBO page uses this definition to determine "taxes"



His is income tax, yours is all Fed taxes, including excise and those paid by an employer.
I'm sorry, I forgot the OP didn't link the blog.

What you are calling my CBO page is the source from which the chart was made by this fellow. Here is the link to the chart and within that is "my" CBO page. This is where the chart came from.

http://mjperry.blogspot.com/2012/07/...-taxes-in.html

Top quintile 94%, fourth quintile 13%, that is 107% right there. ??


Thread Tools

Similar Threads
Category Thread Thread Starter Forum Replies Last Post
Discussion The results of raising taxes to increase revenue P-51C Life, The Universe, and Politics 22 Jul 11, 2012 04:21 PM
Discussion Oh the joy...IMF Chief Lagarde pays zero income taxes MtnGoat Life, The Universe, and Politics 31 May 30, 2012 03:43 PM
Discussion Obama Shrewdly Increasing Tax Revenues! Big Foot 48 Life, The Universe, and Politics 15 Feb 03, 2009 12:30 PM
Discussion Record Tax Revenues... Arbo Life, The Universe, and Politics 110 Sep 30, 2006 05:27 PM
Discussion April tax revenue 2nd highest EVER. MtnGoat Life, The Universe, and Politics 21 May 11, 2006 04:23 AM