Yes, the rich really do pay their “fair share” of income taxes

[HisArpy]

Hypocritical whiny bitch boy sez watt?

Poor baby. It's like you think that not having a comeback line is a good comeback or something. Which is what limited intelligence gets you.

Not that I expected anything else from a dooRmat.

 

[Rightguide]

A big part of the homeless problem has been exacerbated by wealthy individuals buying housing for short term rentals, second homes, and by increasing the cost of housing as they compete to invest in rental properties.

As wealthy individuals make ‘good investment choices’ they raise the cost of living across the board.

Also for California the recent loss of ~15k residential units in recent wildfires has not been negligible.

The biggest part of the Homeless problem is drug use and Democrat tolerance for it.

 

[RobDownSouth]

Poor baby. It's like you think that not having a comeback line is a good comeback or something. Which is what limited intelligence gets you.

Not that I expected anything else from a dooRmat.

Being lectured about a "good comeback" from a snowflake who routinely yells (in all caps) "GO FUCK YOURSELF" each time he loses an argument is the absolute height of irony.

 

[HisArpy]

Being lectured about a "good comeback" from a snowflake who routinely yells (in all caps) "GO FUCK YOURSELF" each time he loses an argument is the absolute height of irony.

Lol, leave it to you to fuck up something as simple as a catch phrase because you don't understand it or the basis behind it.

Not that you're going to understand that either.

 

[ll74]

The biggest part of the Homeless problem is drug use and Democrat tolerance for it.

Democrats don't tolerate it....we accept that people will do drugs no matter how you try and stop them...so instead of pretending that we'll eliminate it, we work to educate people and provide support to those addicted rather than punish them for being addicted.

You probably think the war on drugs was a good idea.

 

[HisArpy]

The biggest part of the Homeless problem is drug use and Democrat tolerance for it.

I believed I mentioned something about poor life choices being the root cause of most people's financial disasters.

And then I was told that idea was a fantasy or something by a person who claimed to be using "facts" about stuff like this and claiming that the cause was really the rich oppressing the poor because the system is set up to favor the rich and not the poor.

Anyone have a guess how much money gets poured into the drug cartels each year by people who end up dead or homeless as a result of their choice to play that game?

 

[adrina]

Being lectured about a "good comeback" from a snowflake who routinely yells (in all caps) "GO FUCK YOURSELF" each time he loses an argument is the absolute height of irony.

Histrionics is what they do. And they do it very very well.

 

[Rotadom]

Poor baby. It's like you think that not having a comeback line is a good comeback or something. Which is what limited intelligence gets you.

Not that I expected anything else from a dooRmat.

My "comeback" which it wasn't, was % on point.

 

[HisArpy]

My "comeback" which it wasn't, was % on point.

No, I'm sure you just mentioned what you posted because you're a big hearted good samaritan without any ideological agenda instead of being extremely short and abrasive and overly fond of mud.

Which is basically a wordy description of a dooRmat.

 

[LLCox]

Analysis by the Tax Foundation of 2020 tax and revenue statistics recently released by the IRS reveal some interesting findings. Below are from a summary published in today’s WSJ:

- The top 1% of earners paid 42.3% of the country’s income taxes. (a two-decade high in the share of taxes paid by the 1%)

- That same 1% reported earnings of 22.2% of adjusted gross income (AGI) on their tax returns, meaning their share of taxes paid as a group is roughly double their share of income.

- The top 5% of earners reported 38.1% of total AGI but paid 62.7% of all income taxes.

- The bottom 50% of earners reported 10.2% of AGI but paid 2.3% of all income taxes.

- In the aggregate the top 1% in 2020 earned at least about $550,000 and paid an average income-tax rate of 26%.

- Those making more than $220,000 but less than $550,000 paid an average rate of 17.5%.

- For those in the next grouping, above about $150,000, it’s 13.1%. Above $85,000, 9.5%. Above $42,000, 6.5%.

- The bottom 50% of taxpayers, those below about $42,000, paid an average rate of 3.1%.

- The trend over the past two decades is that the income tax burden has been shifting even more to the highest earners. In 2001 the top 1% con-tributed 33.2% of income-tax revenue, nine points lower than in 2020. The TCJA tax reform in 2017 has not changed the trend.

- The next income group, those between the top 1% and the top 5%, have also been picking up more of the bill, 20.4% in 2020 versus 19% in 2001.

- Meanwhile, the share of income taxes paid by lower earners has been going down. The bottom 50% of Americans in 2001 provided 4.9% of the revenue. As of 2020 it was 2.3%. The next income group, those between the top 25% and the bottom 50%, used to contribute 13.5% of the income tax. That has fallen to 9.2%.


It must be noted that these figures are for the income tax only. They don’t include payroll taxes or excise taxes on gasoline and other goods, both of which are less progressive. But income taxes contribute half of all federal revenue (and roughly another third is Social Security and Medicare).

The "Oracal of Ohama" sez he pays less % income tax than his secretary.

 

[Lazaran]

The "Oracal of Ohama" sez he pays less % income tax than his secretary.

“Oracal of Ohama”???

(OK, I may have laughed a little.)

The Oracle of Omaha sez the same thing.

 

[BabyBoomer50s]

The "Oracal of Ohama" sez he pays less % income tax than his secretary.

If true, his secretary should find a new tax accountant. For 2021, ProPublica reported that Buffet paid $27.3 million in federal income tax on taxable income of $125 million. That’s 19% of his taxable income. That’s a considerably higher percentage of taxable income than what what most Americans pay in federal income taxes.

 

[JohnEngelman]

If true, his secretary should find a new tax accountant. For 2021, ProPublica reported that Buffet paid $27.3 million in federal income tax on taxable income of $125 million. That’s 19% of his taxable income. That’s a considerably higher percentage of taxable income than what what most Americans pay in federal income taxes.

Most Americans want a more progressive tax system.


https://www.google.com/search?q=pol...HfAYgBsA2SAQYxMi40LjGYAQCgAQE&sclient=gws-wiz

This is because of the growth in inequality that followed the inauguration of Ronald Reagan in 1981.



President Biden's budget proposals call for higher taxes on the rich.

 

[BabyBoomer50s]

View attachment 2217885


Most Americans want a more progressive tax system.


https://www.google.com/search?q=poll+++tax+++rich&source=hp&ei=CC0LZIGfF6mAkvQP9Ner0A0&iflsig=AK50M_UAAAAAZAs7GK1EzG7TkBcnRjIHU3y04dOeHGIT&ved=0ahUKEwiBw5S_uNH9AhUpgIQIHfTrCtoQ4dUDCAo&uact=5&oq=poll+++tax+++rich&gs_lcp=Cgdnd3Mtd2l6EAMyBggAEBYQHjIGCAAQFhAeMgYIABAWEB4yBggAEBYQHjIGCAAQFhAeMgYIABAWEB4yBggAEBYQHjIGCAAQFhAeMgYIABAWEB4yBggAEBYQHjoFCC4QgAQ6CwgAEIAEELEDEIMBOggILhCxAxCDAToRCC4QgAQQsQMQgwEQxwEQ0QM6BQgAEIAEOg4ILhCABBCxAxDHARDRAzoICAAQgAQQsQM6CwguEIAEELEDENQCOhQILhCABBCxAxCDARDHARDRAxDUAjoLCC4QgAQQxwEQ0QM6CAgAELEDEIMBOggILhCABBCxAzoOCC4QsQMQgwEQxwEQ0QM6DggAEIAEELEDEIMBEMkDOg4ILhDHARCxAxDRAxCABDoHCAAQgAQQCjoJCAAQFhAeEMkDOggIABAWEB4QClAAWNcoYOQraABwAHgAgAHfAYgBsA2SAQYxMi40LjGYAQCgAQE&sclient=gws-wiz

This is because of the growth in inequality that followed the inauguration of Ronald Reagan in 1981.

View attachment 2217886

President Biden's budget proposals call for higher taxes on the rich.

To be clear, the 19% of his taxable income Mr. Buffet paid in 2021 represents his federal income tax payment that year. It does not include state and local taxes representing effective tax rates shown in the chart you shared. State and local sales taxes, personal property taxes, gas taxes and other taxes are regressive.

President Biden’s budget does indeed call for more taxes on the rich, and even more spending as a percentage of GDP. The most notable new tax proposed in his budget is a wealth tax. That no doubt pleases the Bernie Sanders and Elizabeth Warren wing of the Democratic Party but we all know that it has no support outside of the Democratic fringe. It’s DOA.

 

[JohnEngelman]

President Biden’s budget does indeed call for more taxes on the rich, and even more spending as a percentage of GDP. The most notable new tax proposed in his budget is a wealth tax. That no doubt pleases the Bernie Sanders and Elizabeth Warren wing of the Democratic Party but we all know that it has no support outside of the Democratic fringe. It’s DOA.

I already documented that for years public opinion surveys have indicated majority support for a more progressive tax system. Do I need to document it again?

 

[BabyBoomer50s]

I already documented that for years public opinion surveys have indicated majority support for a more progressive tax system. Do I need to document it again?

No need to provide further documentation. I recognize that people always prefer higher taxes on taxpayers other than themselves.

 

[RobDownSouth]

No need to provide further documentation. I recognize that people always prefer higher taxes on taxpayers other than themselves.

"Receiving more income means paying higher marginal rates" is the basis of a progressive income tax system.
I have no problem with that.

 

[lazy_literotic]

a lot of the super rich didn't do it by themselves - bootstrap shit.
unless they're an artist or some other solo thing.
they're like businesses - that use our roads and educated people etc to facilitate their wealth.
so you bleeding heart reeepies should stop the crying and man up.
they should pay more.

 

[JohnEngelman]

Years ago I read a column by George Will that I wish I kept. Will said that tax cuts do not benefit the economy, but they do benefit the Republican Party.

Will said that tax cuts make it difficult for Democrats to fund programs designed to help their natural constituency in the bottom half of the income and wealth distribution. When lower middle class and working class whites conclude that the Democrats do not help them on economic matters most either stop voting, or they vote Republican because of social issues.

When Reagan's tax cuts for the rich began to grow the national debt Republicans blamed the increase on "the Democratic Congress," despite the fact that the Republicans controlled the Senate until the election of 1986.

Will wrote a column in which he pointed out that if every administration budget had been approved of in its entirety the rise in the national debt would only be ten percent less than it was.

Will has an unusually high degree of integrity for a conservative commentator.

 

[HisArpy]

a lot of the super rich didn't do it by themselves - bootstrap shit.
unless they're an artist or some other solo thing.
they're like businesses - that use our roads and educated people etc to facilitate their wealth.
so you bleeding heart reeepies should stop the crying and man up.
they should pay more.

Which is just another version of the "I'm entitled to your profits" mantra of the terminated and stupid from a decade or so ago.

 

[Rightguide]

I believed I mentioned something about poor life choices being the root cause of most people's financial disasters.

And then I was told that idea was a fantasy or something by a person who claimed to be using "facts" about stuff like this and claiming that the cause was really the rich oppressing the poor because the system is set up to favor the rich and not the poor.

Anyone have a guess how much money gets poured into the drug cartels each year by people who end up dead or homeless as a result of their choice to play that game?

I don't know but drugs are rampant in homeless camps all across the nation.

 

[HisArpy]

I don't know but drugs are rampant in homeless camps all across the nation.

But we should legalize all drugs because it's a victimless crime!!!

Honestly, the ignorance of the majority of people just astounds me. The evidence is right in front of their faces yet they continue to ignore it because it's not hurting them. Even when it is.

 

[ll74]

I don't know but drugs are rampant in homeless camps all across the nation.

That has always been the case among homeless.

 

[BabyBoomer50s]

"Receiving more income means paying higher marginal rates" is the basis of a progressive income tax system.
I have no problem with that.

I have no problem with our progressive income tax system either. As the IRS data presented by the Tax Foundation shows, the Kennedy-Reagan-Bush43-Trump tax reforms have made it even more progressive in terms of the proportion of total taxes the top 5% and top 1% of earners now contribute.

Unfortunately sales taxes, personal property taxes, gas taxes, sin taxes and other forms of taxation are highly regressive. They are necessary but governments keep taking money and more from those who can least afford. I remember when sales taxes in California were 4% when I was a kid. Now they’re north of 9% in most parts of the state.

 

[schism666]

conservatards defending the elite.

hyp
o
creeps