Interesting Income Tax Statistics - PeachParts Mercedes-Benz Forum

cjlipps · #1 08-10-2009, 12:37 PM

According to the IRS, Tax Foundation:
To rank in the top 5% of US Taxpayers you need to have an AGI of $160K.
This group earned 37% of the total nationwide AGI and paid 61% of all federal income tax.
The bottom 50% of US taxpayers pays 3% of all federal income tax.
I found this interesting and just thought I'd share.

Dee8go · #2 08-10-2009, 12:49 PM

Yeah, I love it when politicians talk about "taxing the wealthy" and making the rich pay "their fair share" of the taxes.

Matt L · #3 08-10-2009, 01:15 PM

Add earnings taxes and recompute. These are not "federal income taxes" but they are paid, and at a higher rate by people making less than 100K/year.

LUVMBDiesels · #4 08-10-2009, 01:47 PM

Subtract the "Earned Income Tax Credit" and add in the "Alternative Minimum Tax" and the "rich" pay even more of the burden...

I am not rich by anybody's standard of living, but My wife and I get slammed by the AMT. We usually 'qualify' by a few thousand. We also 'qualify' to pay the full amount of our property tax, State income tax and all other taxes. we do not get any breaks like the NY STAR program to help pay for property taxes that have gone up 20% a year for the past 4 years! Add in the other taxes and fees based on 'ability to pay" and we probably exceed 60% in taxes already. Is it any wonder why my 'New Mercedes' is 23 years old and the wife's daily driver is two years older than that?

It is nice to know that we pay the bulk of the bill, get no real services in return and are considered fat cat bourgeoisie by 1/2 the members of this forum.

What we rich fat cats who make about $170K a year need to do is quit our fat cat jobs where we work 12 to 16 hours a day, stop paying our mortgages, property taxes, etc and work at WallyWorld. Let them tax us then!

Chris Bell · #5 08-10-2009, 02:04 PM

Quote:

Originally Posted by LUVMBDiesels

Subtract the "Earned Income Tax Credit" and add in the "Alternative Minimum Tax" and the "rich" pay even more of the burden...

I am not rich by anybody's standard of living, but My wife and I get slammed by the AMT. We usually 'qualify' by a few thousand. We also 'qualify' to pay the full amount of our property tax, State income tax and all other taxes. we do not get any breaks like the NY STAR program to help pay for property taxes that have gone up 20% a year for the past 4 years! Add in the other taxes and fees based on 'ability to pay" and we probably exceed 60% in taxes already. Is it any wonder why my 'New Mercedes' is 23 years old and the wife's daily driver is two years older than that?

It is nice to know that we pay the bulk of the bill, get no real services in return and are considered fat cat bourgeoisie by 1/2 the members of this forum.

What we rich fat cats who make about $170K a year need to do is quit our fat cat jobs where we work 12 to 16 hours a day, stop paying our mortgages, property taxes, etc and work at WallyWorld. Let them tax us then!

Your success will be punished.

TheDon · #6 08-10-2009, 02:06 PM

Do it!

MS Fowler · #7 08-10-2009, 02:07 PM

The problem is that half the people have no vested interest ( i.e. don't pay) in government programs. Og course they like increased spending--it costs them nothing ( except inflation).
There needs to a some buy-in for those currently pay nothing---not for the extra revenue generated, which would be insignificant,-- but for the "pride of ownership" that might come from actually having a stake in the process.

It's easy to spend other peoples' money.

Hatterasguy · #8 08-10-2009, 03:25 PM

Their needs to be a flat tax, its unfair to give half the country a free ride.

Matt L · #9 08-10-2009, 03:29 PM

Quote:

Originally Posted by Hatterasguy

Their needs to be a flat tax, its unfair to give half the country a free ride.

The half that gets a free ride is at the top, not at the bottom. Not really half though. Much lower percentage.

Hatterasguy · #10 08-10-2009, 03:30 PM

No the bottom because they are not paying, but getting services.

Matt L · #11 08-10-2009, 03:33 PM

Quote:

Originally Posted by Hatterasguy

No the bottom because they are not paying, but getting services.

The rich do not make themselves rich except on the backs of the poor. That is as it has always been.

The rich have more to protect, but expect their asset protection to come at a bargain price, in that they feel that paying a higher percentage is unfair, even though it doesn't hurt them nearly as badly as it does the poor.

dynalow · #12 08-10-2009, 03:51 PM

Quote:

Originally Posted by Matt L

The rich do not make themselves rich except on the backs of the poor. That is as it has always been.

The rich have more to protect, but expect their asset protection to come at a bargain price, in that they feel that paying a higher percentage is unfair, even though it doesn't hurt them nearly as badly as it does the poor.

Hatterasguy · #13 08-10-2009, 04:20 PM

Not even going to try to argue that.

Chas H · #14 08-10-2009, 04:54 PM

Income tax is only one tax. The total tax paid by an individual should be used to compute tax percentage.
Warren Buffet said he paid a lower percentage income tax than his secretary.

MS Fowler · #15 08-10-2009, 05:13 PM

Quote:

Originally Posted by Matt L

The rich do not make themselves rich except on the backs of the poor. That is as it has always been.

The rich have more to protect, but expect their asset protection to come at a bargain price, in that they feel that paying a higher percentage is unfair, even though it doesn't hurt them nearly as badly as it does the poor.

Pure socialist propaganda.
How much money can you take from the poor? They don't have the money--that is why they are poor.
.