Percentage of federal income tax paid

[dawgball]

I ran across these numbers here: http://www.ntu.org/main/page.php?PageID=6

I do not know the credibility of the site. But it has an American flag background, so it has to be trustworthy!!

Total percentage of federal personal income tax paid by the top 5%.

1999: 55.45%
2000: 56.47%
2001: 53.25%
2002: 53.80%
2003: 54.86%
2004: 57.13%
2005: 59.67%
2006: 60.14%

The only reason I am posting this is that it seems to be "common knowledge" that the top 5% were receiving all of the tax cuts under Bush's reign.

It appears that there was some real truth in that statement when he first got into office (notice the drop from 2000 to 2001, but since then we have steadily increased the burden that the top 5% pay.

 

[pd1]

Thats because they had most all of the money.

 

[DOGS THAT BARK]

I ran across these numbers here: http://www.ntu.org/main/page.php?PageID=6

I do not know the credibility of the site. But it has an American flag background, so it has to be trustworthy!!

Total percentage of federal personal income tax paid by the top 5%.

1999: 55.45%
2000: 56.47%
2001: 53.25%
2002: 53.80%
2003: 54.86%
2004: 57.13%
2005: 59.67%
2006: 60.14%

The only reason I am posting this is that it seems to be "common knowledge" that the top 5% were receiving all of the tax cuts under Bush's reign.

It appears that there was some real truth in that statement when he first got into office (notice the drop from 2000 to 2001, but since then we have steadily increased the burden that the top 5% pay.

equally true is that what the bottom 50% paid was less each year.

I just spent 10 minutes doing search on how tax tables from each period changed and give up--as liberals have all the links trying to compare savings in $ amounts vs %.

Example of their methodology- The 3% that the high income saved was thousands but the 5% lower income saved was only hundreds

 

[Cie]

Why I am hearing nothing but crickets from the kooky left on this one?

 

[ga_ben]

Crazy thing is the really kooky left probably thinks this is not enough.

 

[Cie]

What range of income constitues the top 5%? Is it roughly $250K plus?

 

[Chadman]

Why I am hearing nothing but crickets from the kooky left on this one?

What do you want to hear? How about posting a link to what percentage of income the top 5% take in? Or, more important, perhaps, the top 1%? Yes, they pay more, but they certainly make a helluva lot more, and have a lot more opportunities to take deductions, give to charity giving them more deductions, blur their incomes with their businesses (in many cases) and not report actual income, take their money offshore before having it taxed.

And how about the fact that they have increased their incomes and net worth exponentially in never before seen amounts over the past few years when living in what is such a "penalizing" and "tough" environment to succeed in for the high earners?

I realize crickets would be preferred, but the really high earners in this country don't seem to be suffering under the system they live in, do they? Are they leaving, or are they staying? Some are trying to hide money, granted, and some are using other people's money to make more for themselves, but I'd suggest the upper 5% in this country are doing pretty well, despite their "difficulties."

The lower high incomers? I think that is a very fair argument and concern these days. One of those guys employs me, and I worry about that. But the really high earners? Not so much. What are they gonna do, quit making more money than ever before?

 

[Cie]

What do you want to hear?

$150K is the lower range of income for top 5% of earners!! That is an upper middle class income in my world.

How about posting a link to what percentage of income the top 5% take in?

The top 5% of earners (over $153K ) "take in" 36% of income, yet pay 60% of income tax.

link

Or, more important, perhaps, the top 1%?

The top 1%(over 388K) earn 22% and pay 39%

Yes, they pay more, but they certainly make a helluva lot more,

I disagree based on the above posted info.

and have a lot more opportunities to take deductions, give to charity giving them more deductions, blur their incomes with their businesses (in many cases) and not report actual income, take their money offshore before having it taxed.

Cannot disagree with this.

And how about the fact that they have increased their incomes and net worth exponentially in never before seen amounts over the past few years when living in what is such a "penalizing" and "tough" environment to succeed in for the high earners?

Fact:mj07: Baseless opinion if you ask me, but is possible in the mega rich category.

The lower high incomers? I think that is a very fair argument and concern these days. One of those guys employs me, and I worry about that.

IMO, 2%-5% are feeling the crunch to some degree.

But the really high earners? Not so much. What are they gonna do, quit making more money than ever before?

The rich (earnings over 400K) should pay heavily, and the mega rich should carry the load. $100K through $300K earners are not rich, and do not deserve to get kicked in the balls. JMO.

 

[hedgehog]

I like the flat tax, everyone pays the same rate:shrug: or a consumption tax everyone pays same rate

 

[rusty]

What do you want to hear? How about posting a link to what percentage of income the top 5% take in? Or, more important, perhaps, the top 1%? Yes, they pay more, but they certainly make a helluva lot more, and have a lot more opportunities to take deductions, give to charity giving them more deductions, blur their incomes with their businesses (in many cases) and not report actual income, take their money offshore before having it taxed.

And how about the fact that they have increased their incomes and net worth exponentially in never before seen amounts over the past few years when living in what is such a "penalizing" and "tough" environment to succeed in for the high earners?

I realize crickets would be preferred, but the really high earners in this country don't seem to be suffering under the system they live in, do they? Are they leaving, or are they staying? Some are trying to hide money, granted, and some are using other people's money to make more for themselves, but I'd suggest the upper 5% in this country are doing pretty well, despite their "difficulties."

The lower high incomers? I think that is a very fair argument and concern these days. One of those guys employs me, and I worry about that. But the really high earners? Not so much. What are they gonna do, quit making more money than ever before?

This one really makes sense.
Nice write-up Chadman.
Whats wrong with taxing the highest earning American?Whats the big deal.They make more.

Also there personal things such as propertys,luxurys,spending are more involved then what the average person has.I dont see why this is such a big issue.

Unless your flying jet aviation tonite,what gives??

 

[WhatsHisNuts]

Fact:mj07: Baseless opinion if you ask me, but is possible in the mega rich category.

Cie: Are you serious? The widening gap between the rich and everyone else is news to you? I just pulled the first article that popped up when I ran a search and here's what I got:

http://www.truthout.org/article/income-gap-is-widening-data-shows

Baseless opinion? :nono:

 

[MadJack]

Whats wrong with taxing the highest earning American?Whats the big deal.They make more.

and the ones BITCHING, AREN'T IN THAT CATEGORY!

WTFFFF?

and the ones *IN* that category AREN'T BITCHING.

what am *I* missing??

 

[saint]

So several times in this thread I've read the following statement:

"Well if you earn more money then you should have to pay more taxes."

And why is that? Is the goal in your opinion for everyone to end up taking home the same income after taxes regardless of what their salary is? :mj07: I didn't think I lived in Russia.

Taking away from the rich is easy, it makes 96 out of 100 people happy.

Just in the same way how they are killing smokers with taxes because in the public eye it's a bad habit. Hey if it only upsets 25 out of 100 people that means 75 are happy.

Doesn't make it right.

 

[MadJack]

"Well if you earn more money then you should have to pay more taxes."

ya think?

 

[WhatsHisNuts]

and the ones BITCHING, AREN'T IN THAT CATEGORY!

WTFFFF?

and the ones *IN* that category AREN'T BITCHING.

what am *I* missing??

It's psychological. People that want to be rich try to identify with them by taking on their causes.

 

[saint]

we should have a sliding tax scale where no matter how much money you make you end up bringing home 50k per household.

 

[WhatsHisNuts]

And why is that?

Come on Saint. You can't be serious.

 

[WhatsHisNuts]

we should have a sliding tax scale where no matter how much money you make you end up bringing home 50k per household.

That's right, play the extreme exaggeration card when your argument is proven to be caca.

Like it or not, there are always people that carry a heavier burden and they are always the ones that are most capable of doing so....be it work, sports, or taxes. Think about it, bro.

 

[saint]

Believe it or not despite how much I piss and moan about it I have no problem with paying more taxes. If it helps get our country out of the shitter I'm all for it.

I do get frustrated when people who make 300, 400k get lumped in with the mega wealthy. For the record I'm not near that so it's not like I'm talking about my present situation.

The exaggeration game already was played when someone said the wealthy expanded their worth exponentially over the last few years. Either they are exaggerating or they don't know the meaning of exponential.

I've said it before as someone intimately involved in a small business. We will do what many other small businesses do...if we pay more taxes both through the business and personally then the burden will be shifted to employees, their health benefits, compensation packages, bonuses...somewhere. When you take all the risk as a business owner then you get to make that shift in income. But it's really going to affect a whole bunch of employees of those small businesses soon.

 

[UGA12]

Flat Tax + Luxury tax = Problem Solved!