OMB: Top 20 Percent Pay 95 percent of taxes, middle classs 'single digits'

[truth_seeker]

OMB: Top 20 Percent Pay 95 percent of taxes, middle classs 'single digits'

Paul Bedard ; October 27, 2017

snip

http://www.washingtonexaminer.com/omb-top-20-pay-95-of-taxes-middle-class-single-digits/article/2638746

[Bigun]

OMB: Top 20 Percent Pay 95 percent of taxes, middle classs 'single digits'

Paul Bedard ; October 27, 2017

snip

http://www.washingtonexaminer.com/omb-top-20-pay-95-of-taxes-middle-class-single-digits/article/2638746

There is an often overlooked qualifier in there.  Want to hazard a guess what it is?

[truth_seeker]

Dedicated to our resident wealth envying phony "conservative"

[roamer_1]

This is the wrong argument.
Stop printing dollars, and stop spending, spending, spending.

It doesn't matter who is paying the bill. What matters is that the bill is way, way too high.

[Bigun]

This is the wrong argument.
Stop printing dollars, and stop spending, spending, spending.

It doesn't matter who is paying the bill. What matters is that the bill is way, way too high.

I agree with you for the most part but who pays is hugely important!  Until those who currently don't do we will never get the spending under control!

[roamer_1]

I agree with you for the most part but who pays is hugely important!  Until those who currently don't do we will never get the spending under control!

Well, yes and no... If you cut spending taxes can go down across the board.
If you quit printing money, the value of the dollar goes up, again requiring less taxation.

All this class bullcrap is regurgitating insanity and distraction. EVERYBODY benefits from cutting spending. The problem is too much money being spent. Shut it off.

[Mom MD]

This is the wrong argument.
Stop printing dollars, and stop spending, spending, spending.

It doesn't matter who is paying the bill. What matters is that the bill is way, way too high.

I matters who is paying the bill if you are the one doing the paying.  I pay 6 figures a year in federal tax alone and we don’t make THAT much.  I’m tired of footing the bill for everyone else to get the benefits.  No student aid for your kids you make too much.  No write offs you make too much.  We itemize but I’m not sure why because the AMT rolls off almost all our deductions.  I want the rest of the country to try paying tax like I do then have people whine at them that they do not deserve tax cuts because they are rich.   BTW this “rich” person drives a 5 year old Honda....  I could probably afford a luxury car but I sent 10k a month to the government to pay for things I find morally reprehensible and try to save extra $ for retirement beyond what I figure I need because I doubt I will ever see the social security I have paid into for 35 years.....  /rant off

[InHeavenThereIsNoBeer]

There is an often overlooked qualifier in there.  Want to hazard a guess what it is?

"The top 20 percent of folks who file a tax return"

And yeah, that is a guess.

[Bigun]

"The top 20 percent of folks who file a tax return"

And yeah, that is a guess.

@InHeavenThereIsNoBeer

I was thinking "who have income" but you are close enough!  There are a great many people in this country who have the ability to take in LOTS of money  none of which qualifies as "income".

They live like kings and contribute virtually nothing to the treasuary.   

The Marxist income tax is a slave tax!

[bilo]

I was wondering how the various groups breakout and found this:

Based on 2013 Adjusted Gross Income

The top 1% earned $428,712 or higher
The Top 5% earned $179,759 or higher
The Top 10% earned $127,694 or higher
The Top 25% earned $74,954 or higher.

[bilo]

@InHeavenThereIsNoBeer

I was thinking "who have income" but you are close enough!  There are a great many people in this country who have the ability to take in LOTS of money  none of which qualifies as "income".

They live like kings and contribute virtually nothing to the treasuary.   

The Marxist income tax is a slave tax!

As long as they are doing this honestly I don't see anything wrong with this.

If they are taking most of their income as dividends and paying a capital gains rate so what. The money invested in the stocks that are producing a dividend created business activity. The business activity created jobs.

If we wanted a fair system we would eliminate the income tax and go with a national sales tax, but that's not going to happen as long as a majority of people want to "punish the rich" for being rich and as long as we have politicians who want to control people through the tax code. IOW, it's never going to happen.

[Bigun]

As long as they are doing this honestly I don't see anything wrong with this.

If they are taking most of their income as dividends and paying a capital gains rate so what. The money invested in the stocks that are producing a dividend created business activity. The business activity created jobs.

If we wanted a fair system we would eliminate the income tax and go with a national sales tax, but that's not going to happen as long as a majority of people want to "punish the rich" for being rich and as long as we have politicians who want to control people through the tax code. IOW, it's never going to happen.

@bilo

Nor do I but I will tell you that making it possible for them to do this is the cottage industry of Washington DC.  It is the sole reason for the exsistence of all those firms who populate K Street in that den of inequity.  If we are to ever again be a truly free people that all must end!

Our founding fathers were well aware of the pitfalls of that form of taxation and said so repeatedly.  We need to go back to the form of taxation those great men universally endorsed.  Taxes on articles of consumption only.

[Chosen Daughter]

@bilo

Nor do I but I will tell you that making it possible for them to do this is the cottage industry of Washington DC.  It is the sole reason for the exsistence of all those firms who populate K Street in that den of inequity.  If we are to ever again be a truly free people that all must end!

Our founding fathers were well aware of the pitfalls of that form of taxation and said so repeatedly.  We need to go back to the form of taxation those great men universally endorsed.  Taxes on articles of consumption only.

I am not rich.  I feel like I pay my fair share too.  I like the idea of consumption tax. 

People keep bringing up how the top 10-20% pay the majority.  We pay all we can.  And if the other 80% didn't pay taxes rich people would be flipping the bill for the whole thing.  If you make a dollar and pay a dime you are paying your share.  There is no way to get more out of us.  We couldn't live if you tried.  Then we would have to go on welfare.

And I would also like to point out that the rich control the government.  They lobby for this and for that.  Many times those things they lobby for end up costing the lower wage earners.  Even their jobs.  DACA and illegal immigration  H1-2 B, NAFTA.  Corporate welfare.

Ways to screw people out of jobs in America.

[roamer_1]

I matters who is paying the bill if you are the one doing the paying. 

You just ain't pickin up what I'm puttin down...

All the butthurt in the world won't change a dang thing. They're gonna take the money from those who have it - That's how it goes. If the spending doesn't stop, *nothing* is gonna change.

[Chosen Daughter]

You just ain't pickin up what I'm puttin down...

All the butthurt in the world won't change a dang thing. They're gonna take the money from those who have it - That's how it goes. If the spending doesn't stop, *nothing* is gonna change.

Some states have been voting on a Constitutional Convention.  New York is one but it doesn't look like it is going to happen.  I read it is about curbing government corruption and out of control spending.  I don't know what to think of it.

Correction:

New York is voting on State Constitution Convention but there is a movement to have a Constitutional Convention.

https://www.economist.com/news/briefing/21729735-if-it-did-would-be-dangerous-thing-america-might-see-new-constitutional-convention

[bilo]

@bilo

Nor do I but I will tell you that making it possible for them to do this is the cottage industry of Washington DC.  It is the sole reason for the exsistence of all those firms who populate K Street in that den of inequity.  If we are to ever again be a truly free people that all must end!

Our founding fathers were well aware of the pitfalls of that form of taxation and said so repeatedly.  We need to go back to the form of taxation those great men universally endorsed.  Taxes on articles of consumption only.

I'm with you 100%!

A sales tax makes all the sense in the world. Govt can try to manipulate us as easily and it ends the sweet heart deals for the businesses that can higher lobbyists. The leftists will never go for it because it reduces their control over us and it doesn't punish the rich. The right won't go for it because they get so much campaign cash from the businesses they look out for.

[bilo]

I am not rich.  I feel like I pay my fair share too.  I like the idea of consumption tax. 

People keep bringing up how the top 10-20% pay the majority.  We pay all we can.  And if the other 80% didn't pay taxes rich people would be flipping the bill for the whole thing.  If you make a dollar and pay a dime you are paying your share.  There is no way to get more out of us.  We couldn't live if you tried.  Then we would have to go on welfare.


And I would also like to point out that the rich control the government.  They lobby for this and for that.  Many times those things they lobby for end up costing the lower wage earners.  Even their jobs.  DACA and illegal immigration  H1-2 B, NAFTA.  Corporate welfare.

Ways to screw people out of jobs in America.

This is the reason Trump emerged and became President. People are fed up.

The elites you mention that control govt through donations and lobbyists are mostly on the left, but there are some on the right. It has got to end. We will see what happens with tax reform. If we end up with 3 brackets, double the standard deductions, end the AMT, allow immediate write offs of capital purchases, end the subsidies of state and local tax deductions it would be a good start.

I'm so sick and tired of the corporate welfare I would love to see all of it ended, but I don't think they will because jobs may be lost.

[Chosen Daughter]

This is the reason Trump emerged and became President. People are fed up.

The elites you mention that control govt through donations and lobbyists are mostly on the left, but there are some on the right. It has got to end. We will see what happens with tax reform. If we end up with 3 brackets, double the standard deductions, end the AMT, allow immediate write offs of capital purchases, end the subsidies of state and local tax deductions it would be a good start.

I'm so sick and tired of the corporate welfare I would love to see all of it ended, but I don't think they will because jobs may be lost.

Yes, and I am a Conservative.  Fully aware that we need to be business friendly.  But we also need to get back to employing Americans and quit with the H1-2B garbage.  The whole thing with these amnesties and foreign workers is corporate welfare.  That was meant only to hire people with special skills that they cannot find here in America.  But they kept raising the levels.  Kept allowing illegal immigration.  NAFTA too.  They have stacked it all against Americans.  Lets make businesses able to compete and hire Americans at the same time. We could cut all the environmental baloney.  Give them the tax credits they need.  Corporate America isn't hurting.  Its the people hurting.  We need to address it.

[Bigun]

Yes, and I am a Conservative.  Fully aware that we need to be business friendly.  But we also need to get back to employing Americans and quit with the H1-2B garbage.  The whole thing with these amnesties and foreign workers is corporate welfare.  That was meant only to hire people with special skills that they cannot find here in America.  But they kept raising the levels.  Kept allowing illegal immigration.  NAFTA too.  They have stacked it all against Americans.  Lets make businesses able to compete and hire Americans at the same time. We could cut all the environmental baloney.  Give them the tax credits they need.  Corporate America isn't hurting.  Its the people hurting.  We need to address it.

We need to take away the ability of those in Washington to manipulate via the tax code.  It will never happen so long as we have any form of income tax in place!

[Chosen Daughter]

We need to take away the ability of those in Washington to manipulate via the tax code.  It will never happen so long as we have any form of income tax in place!

Trump needs to deliver on his promises.  I may not have voted for him but many Americans did.  And it was all about American jobs and illegal immigration.  If he doesn't get it done kiss the next election goodbye.

Update:

And I was just checking to see what Trump is doing with H1-B and just the other day there is something positive.  Although it is not limiting the amount it makes it harder to renew.

http://money.cnn.com/2017/10/25/technology/business/h1b-visa-renewal-uscis/index.html

Oh and....

http://fortune.com/2017/04/18/h1b-visa-donald-trump/

Good Trump.

Positive, but lets cut that number way down.