Here's another one!

[kentuck]

"The top 1% pay 40% of all taxes".

And what taxrate do they pay to equal that 40%? Do they pay 25% of their entire income? Do they pay less than that? Maybe they are hogging too much of the income? That quote makes it sound like the top one percent is paying at a 40% tax rate?

[arcane1]

1. Hmm... wouldn't that mean:

that the bottom 99% pay 60% of all taxes? :shrug:

[eleny]

6. The rest of the quote on Harball just now was that the bottom 40% pay no taxes

It was said by Steve "somebody" - who is also a finance talker on CNN weekend shows.

[kentuck]

8. I guess the FICA taxes they pay...?

...and the government then borrows, doesn't count as a tax?

[eleny]

13. The same old tired reasoning has been pushed today

I had to change the channel when Blackburn was on pushing the "seniors will have choices" meme regarding Medicare.

They play with words and numbers as if we were all mushrooms waiting for the dirt and leaves to be piled on.

[SDuderstadt]

2. No, it doesn't n/t

[JoePhilly]

3. Their effective tax rate is usually under 17% after you factor in

the various tax breaks and deduction that you can only get if you are wealthy.

[kentuck]

4. If that is the case..?

Then the argument could be made that they should be paying at a much higher rate, perhaps as high as 40%, regardless if that is 40% or 80% of all the taxes. It is a distracting argument, intentionally, imo.

[JoePhilly]

21. Agree, distraction

[Rex]

5. Never heard that before.

I don't know about the top 1%, but I know the companies they own don't pay taxes.

[walldude]

7. Yesterday I saw someone claim they paid 80% of the taxes

doesn't matter what the number is. THey make 90% of the wealth. If they are paying less than 90% of the taxes they are not paying their share.

[kentuck]

9. Bingo!

That is the bottom line.

[JuniperLea]

12. That's it exactly!

Tax the money, not the people... they keep throwing this bullshit out there and people swallow it.

[Scuba]

15. The logic for a low capital gains rate was always....

....that the money had already been taxed at the corporate level.


Not true on so many levels.

[JuniperLea]

16. Yeah, that would mean something if...

Corporations had to pay any sort of real tax amount.

[tkmorris]

18. Actually, your statement would imply a "Flat Tax" tax rate

A Progressive tax rate structure would have them paying a greater percentage than that.

[onethatcares]

10. They make up 80 per cent of the bullshit so they should be

taxed appropriately.

Every night I pray, Dear God, Please move me to the top tax bracket of our great nation, so I can hire an accountant that will reduce it

to less than the middle class pays. Thanking you in advance, OTC

[JuniperLea]

11. Ah ha! They keep moving the frame!

Are we discussing people, or money?

The top 2% of the people have 98% of the money, the remaining 2% of us are made to fight over the remaining 2% of the crumbs... and out of our measly 2%, we are expected to pay 67% of the taxes!

See how that works?

Keep the talk about the money... tax the number of dollars, not the people! 98% of the money should generate 98% of the tax revenue!

[Scuba]

17. Agreed, assuming the "remaining 2%" should read "remaining 98%".

[JuniperLea]

22. Right....

It can get so damned confusing I even confused myself!

I had to draw myself a little picture the first time someone rebutted my "2% of the people have 98% of the money" with but.. but.. but... 2% pay 33% of the taxes!!! There is massive disparity here.

[Demonaut]

14. sad that workers can't earn enough to be taxed at a decent rate

I'm not being sarcastic...It shows the disparity of income

[Solomon]

19. And the most despicable thing of all is that taxes got started for,

and remains to this day, the security that vouches for the fricking loans that we, as the people, have to borrow, and pay fricking interest on, to a privately owned bank - I SAID PRIVATELY OWNED BANK, damn it, owned by a few families. We can't even print our own money. And what do they make us, I said make us, borrow the money for, money that they get- and we pay interest on it to boot!or!!!??

Let me stop before they come and get me. LOL

Nobody wants to talk about this issue.

[treestar]

20. Republican argument for why they shouldn't have to pay more

since they are rich, they may pay in more dollars.

It is similar to the one that claims if they aren't taxed, they make so much more money, that at lower rates they will still pay in more dollars.

Thus they will claim that lower taxes means more tax revenue. They claim this occurred after Reagan cut taxes.

[mom2threegirls]

23. Where can we find these economic numbers?

I've heard so many numbers and percentages talked about today (seems to be the repub talking point of the the day)...but does anyone know a good, reliable place to get the actual numbers on what percentage of the total income is made by which segment of the population, and how much they pay in taxes?

[Shagbark Hickory]

24. Methinks you're watching thom hartmann.

[JTFrog]

25. Lol, um....Welcome back?

:spray: