toldailytopic: Do you believe the government is taxing you too much?

[Aner]

Here is a schedule of the Historical Top Marginal Rate - this s/prove very instructive - in case you ever wonder why we have the deficit that we do...

Historical rates (married couples, filing jointly)
Table
Tax year Top marginal
tax rate (%) Top marginal
tax rate (%) on
earned income,
if different<1> Taxable
income over--
1913 7 500,000
1914 7 500,000
1915 7 500,000
1916 15 2,000,000
1917 67 2,000,000
1918 77 1,000,000
1919 73 1,000,000
1920 73 1,000,000
1921 73 1,000,000
1922 58 200,000
1923 43.5 200,000
1924 46 500,000
1925 25 100,000
1926 25 100,000
1927 25 100,000
1928 25 100,000
1929 24 100,000
1930 25 100,000
1931 25 100,000
1932 63 1,000,000
1933 63 1,000,000
1934 63 1,000,000
1935 63 1,000,000
1936 79 5,000,000
1937 79 5,000,000
1938 79 5,000,000
1939 79 5,000,000
1940 81.1 5,000,000
1941 81 5,000,000
1942 88 200,000
1943 88 200,000
1944 94 <2> 200,000
1945 94 <2> 200,000
1946 86.45 <3> 200,000
1947 86.45 <3> 200,000
1948 82.13 <4> 400,000
1949 82.13 <4> 400,000
1950 84.36 400,000
1951 91 <5> 400,000
1952 92 <6> 400,000
1953 92 <6> 400,000
1954 91 <7> 400,000
1955 91 <7> 400,000
1956 91 <7> 400,000
1957 91 <7> 400,000
1958 91 <7> 400,000
1959 91 <7> 400,000
1960 91 <7> 400,000
1961 91 <7> 400,000
1962 91 <7> 400,000
1963 91 <7> 400,000
1964 77 400,000
1965 70 200,000
1966 70 200,000
1967 70 200,000
1968 75.25 200,000
1969 77 200,000
1970 71.75 200,000
1971 70 60 200,000
1972 70 50 200,000
1973 70 50 200,000
1974 70 50 200,000
1975 70 50 200,000
1976 70 50 200,000
1977 70 50 203,200
1978 70 50 203,200
1979 70 50 215,400
1980 70 50 215,400
1981 69.125 50 215,400
1982 50 85,600
1983 50 109,400
1984 50 162,400
1985 50 169,020
1986 50 175,250
1987 38.5 90,000
1988 28 <8> 29,750 <8>
1989 28 <8> 30,950 <8>
1990 28 <8> 32,450 <8>
1991 31 82,150
1992 31 86,500
1993 39.6 89,150
1994 39.6 250,000
1995 39.6 256,500
1996 39.6 263,750
1997 39.6 271,050
1998 39.6 278,450
1999 39.6 283,150
2000 39.6 288,350
2001 39.1 297,350
2002 38.6 307,050
2003 35 311,950

 

[chrysostom]

I think we should all leave and let Aner and kmoney discuss this

 

[Ktoyou]

if you are young
and
not a liberal, you have no heart
if you are old
and
not a conservative, you have no brain

Winston Churchill

 

[drbrumley]

The government is taxing the lower middle class too much (less than 100k/yr), they are taxing the singles too much (the singles tax penalty - while giving the marrieds a huge tax break) and they taxing the rich WAY TOO LITTLE.

This can easily be seen that as a single person my marginal rate is 28% whereas the highest rate among the uber rich is 35% - a mere 7% more despite the fact that the vast portion of my REMAINING income goes to a) more taxes (RE Prop taxes, Sales Taxes) and b) the rest of my survival needs whereas the vast majority of the rich'es taxes are used for their financial games to further enrich themselves at any cost.

I advocate returning to the tax rates under that great Republican president - Dwight D Eisenhower - 90% top marginal tax rate - extremely well managed deficit....

Aner

Deficit? You like running a deficit?

 

[Ktoyou]

Income tax was manageable, inheritance tax to my family is way too much!

Under Obama idea on death tax

 

[Town Heretic]

I use to be a liberal
it was easy
until you start paying taxes

So you're saying that liberalism is less self interested and a harder road. Interesting admission. :think:

 

[nicholsmom]

Here is a schedule of the Historical Top Marginal Rate - this s/prove very instructive - in case you ever wonder why we have the deficit that we do...

Historical rates (married couples, filing jointly)
Table
...

??? that's a poor table, Aner. Makes no sense - try figuring out the bb code to make it readable.

 

[Lighthouse]

Yes.

 

[Nick M]

The government is taxing the lower middle class too much (less than 100k/yr), they are taxing the singles too much (the singles tax penalty - while giving the marrieds a huge tax break) and they taxing the rich WAY TOO LITTLE.


Aner

View attachment 15452

Tax rates came down, the economy grows, and tax revenues go up. Simple math. Even a two year old can understand.

You are a pervert of even the simplest things. Lower middle class is $99,999 a year? Just like Bill Clinton. His idea of rich is anybody with a job.

And you are entitled to your opinions, I will remind you of them when you are wailing and nashing your teeth begging for just a bit of relief that will never come for you. (Thank God)

But you are not entitled to your own facts. The lowest income workers pay the least in taxes as a whole and as percentages.

The highest income earners pay a disproportionate amount of income taxes. If you are in the 28% rate, that is 137k to 208k. I suspect you don't offer up extra in taxes. You hypocrite Chrit hating pig.

http://www.taxfoundation.org/files/sr151.pdf

Page 5 of 12, but the entire article is usefull.

http://www.taxfoundation.org/files/wp1.pdf

So is the second pdf. That file is 123 pages.

Here is a schedule of the Historical Top Marginal Rate - this s/prove very instructive - in case you ever wonder why we have the deficit that we do...

Historical rates (married couples, filing jointly)
Table
Tax year Top marginal
tax rate (%) Top marginal
tax rate (%) on
earned income,
if different<1> Taxable

And the inverse proportion of reciepts as a result.

1983 -- THE BEGINNING OF THE DECADE OF GREED -- THE YEAR THE REAGAN TAX BREAKS TOOK EFFECT.

Here we find the top 1% of all income earners in the United States paying a total of 20.3% of all of the personal income taxes collected by the IRS. The top 10% were paying 49.7% of all income taxes, and the top 50% was paying 92.8%. The bottom 50% of all income earners were payign only 7.2% of all income taxes.

1993 -- THE DECADE OF GREED ENDS! CLINTON RAISES TAXES TO THE EVIL RICH WILL PAY THEIR FAIR SHARE!

Ten years later, in 1993, we find the top 1% of all income earners paying 28.7% of all income taxes collected! Wow! Those rich SOB's really got away with murder, didn't they? The top 10% saw their share of total income taxes collected go from 49.7% to 58.8%. The greedy so-and-so's. The top 50% saw their share rise to 95.2% of all taxes, while the bottom 50% saw their share drop from 7.2% to 4.8%.

IT'S 1998 --- HOW ARE THE EXPLOITERS OF THE POOR DOING NOW?

The September 23, 1998 issue of The Wall Street Journal has the new numbers for us. The share of the taxes being paid by the top 1% has gone up again! For the year 1966 they are approaching 33%.

That was a nice summary of Reagan's cuts and how it helped raise revenue by growing the economy which helped the poorest people.

http://www.ntu.org/tax-basics/who-pays-income-taxes.html


Below is the percentile of income earners, the adjusted gross income, and last column is the percent of federal income tax paid. In other words, 1% pays 40% of taxes.


Top 1% ; $410,096 ; 40.42


Top 5% ; $160,041 ; 60.63


Top 25%; $66,532 ; 86.59


Top 50% $32,879 97.11



Bottom 50% <$32,879 2.89

 

[Town Heretic]

You're leaving out one interesting and relevant detail, Nick. That top 1% that pays 40% receives what % of the wealth produced? According to the Center on Budget and Policy Priorities, in a 2009 article, that top one percent realized around 66% of that wealth. That's a burden I'll gladly bear. Well, it's one my father shoulders nobly then. I'll have to ask him how he manges to put imported wine on the table for all that.

:cheers:

 

[GeneCosta]

My income tax is currently negligible; I'm probably hit the worst by the sales tax (8%).

 

[chrysostom]

Winston Churchill

is that where it came from?

 

[chrysostom]

So you're saying that liberalism is less self interested and a harder road. Interesting admission. :think:

I am saying that it is easy to be a liberal if you don't pay taxes

 

[sdgareth]

Not sure where this quote came from, but found it interesting

"You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another
person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is about the end of any nation.

You cannot multiply wealth by dividing it."

 

[Nick M]

I forgot to answer the quesiton. Yes, I am taxed to much.

 

[Newman]

"Do you believe the government is taxing you too much?" is the same question as "if you've ever been robbed, did they take too much or too little?"

 

[Tyrathca]

"Do you believe the government is taxing you too much?" is the same question as "if you've ever been robbed, did they take too much or too little?"

By the sounds of that you think there should be absolutely no taxes at all, the result of which is unavoidably anarchy (no taxes = no government = no law, law enforcement, standardised currency etc.)

 

[nicholsmom]

You're leaving out one interesting and relevant detail, Nick. That top 1% that pays 40% receives what % of the wealth produced? ...

Receives??? Com'on, TH, you surely realize that money is earned. That wealth is built with wit, risk, and hard work - it is not "received" as though it were being doled out, and not gained "on the backs of the poor" as though it were being taken out of the pockets of the hard-working middle class :nono:

 

[Lucky]

No.

 

[Krsto]

I used to say the government should be happy with taking no more than 10% of our income since God only expects 10% but then I did a study on tithing and realized God does not expect any certain percentage of income, only a freewill offering, so maybe the gov. should just pass the plate and leave it at that.