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Monday, August 30, 2010
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Friday, August 27, 2010
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Thursday, August 26, 2010
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Wednesday, August 25, 2010
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Tuesday, August 24, 2010
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Monday, August 23, 2010
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Friday, August 20, 2010
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Thursday, August 19, 2010
Top 1% pays more taxes than bottom 95%
From Tim Andrews on Friday, July 31, 2009 4:59 PM
New data Released by the IRS has just shown that the top 1% income earners pays more in tax than the bottom 95% combined.
An analysis of IRS data by the Tax Foundation shows that the top 1 percent of taxpayers paid 40.4 percent of the total income taxes collected by the federal government, the highest percentage in modern history. While the bottom 95 percent paid 39.4 percent of the income tax burden.
The tax foundation rightly notes that putting this in perspective, the top 1 percent is comprised of just 1.4 million taxpayers and they pay a larger share of the income tax burden now than the bottom 134 million taxpayers combined.
Of course, this isn't even taking into account President Obama's plan to increase the top marginal tax rate to almost 60%.
Inequality indeed.
(H/T United Liberty)














Comments
Was the Tax Increase Foundation lamenting that the top 1% was only paying 40% of the taxes and not more, or do they think the top 1% should pay the same and just raise taxes for everyone else to narrow the gap?
>> TCH Friday, July 31, 2009 5:22 PM Report Comment
The Tax Foundation is a nonpartisan, nonprofit organization, just as ATR is. They report the facts without a liberal or conservative spin. I thank God for unbiased groups such as Tax Foundation, ATR, National Taxpayers Union (NTU), Citizens Against Government Waste (CAGW), and Taxpayers for Common Sense (TCS). Without them, we patriotic Americans would already be bankrupt.
>> Wallace Hoffman Friday, July 31, 2009 11:13 PM Report Comment
If you actually read what TF said about the Democrats, you would be quick to reverse your 'nonpartisan' shtick. Secondly - this graph is the epitome of misleading. Since 1987 the Top 1% are paying 60% more in taxes. But - since 1987, the Top 1% are making 100% more in AGI. Last time, I checked, 60% < 100%.
>> AhmedF Saturday, August 1, 2009 12:52 AM Report Comment
I would consider the Tax Foundation to be conservative, but it's not a reactionary anti-tax group like ATR whose "research" is an insult to the word "research." Tax Foundation does put some things out there that are somewhat misleading like this blog post, but if you read most of their reports, they're somewhat fair. You could program a parrot to work for ATR...I mean he'd have to learn about 3 phrases: cut taxes, no tax hikes, pledge violator. And they don't even need people to raise money....just somebody to launder it.
>> common sense Sunday, August 2, 2009 8:31 PM Report Comment
AhmedF from your misguided statement one could gather that you want the top 1% to pay 100% taxes and the rest to pay nothing...
>> nin Monday, August 3, 2009 9:17 AM Report Comment
Mis guided? Let me simpilfy the math for you. Which is more - making $100 and paying $40 in taxes, or making $200 and paying $64 in taxes? That is what has happened. But in your world, that is 'misguided.' Fool
>> AhmedF Monday, August 3, 2009 10:27 AM Report Comment
Great. I am glad I worked full time and went to school full time for 9 years and now work about 70 hours a week with not so much work-life balance so I can earn enough to pay the taxes for those who didn't and who spend time with their families. We all make sacrifices. I made mine. Those who aren't paying their share in the bottom 95% need to make theirs. You are not entitled to a house, nice car, even clothes. I don't appreciate paying even more taxes so people who don't can trade in their old cars and buy a lexus.
>> Sarah K Monday, August 3, 2009 10:30 AM Report Comment
Sarah are you that simple of a person? Let me re-emphasize - the Top 1% have *DOUBLED* (100% increase) their income since 1987, while their taxes have gone up 60%. Are you telling me that the Bottom 95% are not working hard? Are you telling me that only the Top 1% (or Top 5%) work hard and everyone else doesn't? There is an underlying societal problem ... but sure, blame it on people being lazy (I am of course assuming here that your 70 hours a week makes you more than $400,000/year and thus puts you in the Top 1%) I like how you basically blamed 95% of Americans of being lazy and riding your coattails :)
>> AhmedF Monday, August 3, 2009 10:52 AM Report Comment
I stumbled on this doing research for a paper. I thought why are some of these posted comments about the Tax Foundation and not about the issue? Made me wonder so I visited the Tax Foundation site. They have tons of solid research that will help me in my major. I perceive Tax Foundation as unbiased - and ATR seems inflammatory like a cheap knock-off. I can only think that the play on words by calling them the Tax Increase Foundation is from someone with a personal issue. Maybe they were turned down in a job interview with the Tax Foundation!
>> wizeone Monday, August 3, 2009 11:09 AM Report Comment
The ATF continues to mislead stupid Americans that never ever take a look at the discretionary spending charts,where the Pentagon consumes 52% of Federal Tax dollars. So talk about paying a fair share, for what? More F22's that are going to sit and rot while our kids have no toliet paper in their schools? This country is headed for the bottom of charts. Thirty years of misleading Americans - great job Grover, you and Rove can proudly wave a flag with holes in it.
>> legs ortiz Tuesday, August 4, 2009 2:45 PM Report Comment
Wow, Ahmed and legs sound like whiney lazy socialists for sure. What idiotic points they make. The first and primary job of the government is to defend our country and constitution. This chart reveals the hypocrisy of ahmed and friends when you can plainly see that taxes for lower income people has steadily declined during this period. What is moral about stealing money from someone who earned it and giving it to someone who didn't. Legs, if your school has no toilet paper it is not because of the federal govmt but because of your own local polititions and the bloated administration in your school district.
>> liberpublican Tuesday, August 4, 2009 5:18 PM Report Comment
Mega-million dollar a year sports players, entertainment celebrities, and greedy corporate executives--how long does one think such a society can continue to function properly and well no matter what any charts show?
>> David W. Long Saturday, August 8, 2009 10:47 AM Report Comment
And who among the posters here is in that 1% ? Well thanks for speaking up for us !! I am in that top 1% I like most of us inherited my original stake in real estate. We are an oppressed class I think that everyone should just pay the exact same regardless of income, a flat tax the same for all citizens regardless of their wealth or income. Now that would be equality in tax
>> John ryan Friday, September 25, 2009 5:49 PM Report Comment
I know its kinda late, but Ahmed you math is way off. You wrote: $100 and paying $40 in taxes, or making $200 and paying $64 in taxes. Actually, you just added 60% to the $40. It would actually be $200 = $80 taxes + 60% of the 80...so it would make a grand total of $112 in taxes. So, while you earn 100% more, you only get to keep 36% more. That doesn't seem to fair to me.
>> Justin G Tuesday, April 6, 2010 10:50 PM Report Comment
What is it about liberals like AhmedF that makes them feel like theyre entitled to tax the crap out of the wealthy? Why did the wealthy become more wealthy, because the government gave the money to them? NO, they earned it and they also pay the salaries of thousands of Americans. Keep your cotton picking socialist hands out of the pockets of the most successful. Your draconian views that the rich must somehow be punished is stunningly anti-capitalist. They already pay more than 95% of the tax paying population! Get off their backs.
>> bart Friday, April 16, 2010 12:46 AM Report Comment
I too am part of the top 1%. I agree a flat tax is the only fair way to tax. Everyone should be treated equally. To those bickering about left / right views... capitalism is not democratic and in the eyes of the Wise is quite evil. Though I have made hundreds of billions in my life, I have kept less than 10%. What good is my money when I go to see my Creator. Give until their is nothing less to give, just make sure you don't give anymore than you have to to the gov't. They spend over a hundred dollars on a hammer and have left millions in military equipment in the desert to either rot or fall into the wrong hands. The US gov't is always a bad investment.
>> Camelthru Needle Saturday, April 17, 2010 8:44 PM Report Comment
I think a major problem with some of you're analysis AhmedF and others is that you are thinking that the two groups (1% and 95%) somehow add up together. I belong to the top 1% and I like to think I got there by being able to add. There is a block of people in there who still make an incredible amount of money compared to most that fill in the gap. I am not sure that a flat tax would take away the fact that we pay more taxes than the lower 95%.
>> SmarterThanABear Friday, July 23, 2010 7:03 PM Report Comment