The Rich Really Do Pay Lower Taxes Than You

[OfTheCross]

Almost a decade ago, Warren Buffett made a claim that would become famous. He said that he paid a lower tax rate than his secretary, thanks to the many loopholes and deductions that benefit the wealthy.

His claim sparked a debate about the fairness of the tax system. In the end, the expert consensus was that, whatever Buffett’s specific situation, most wealthy Americans did not actually pay a lower tax rate than the middle class. “Is it the norm?” the fact-checking outfit Politifact asked. “No.”

Time for an update: It’s the norm now.

For the first time on record, the 400 wealthiest Americans last year paid a lower total tax rate — spanning federal, state and local taxes — than any other income group, according to newly released data.

nytimes

Very nice visualization to make it easy to see.

[InHeavenThereIsNoBeer]

When someone else pays more in tax than I make in a year, I find it hard to say they pay less than I do.

But then, I've never been any good at lying. 

[DB]

Very nice visualization to make it easy to see.

That's because the income of the very rich are primarily from investments and not labor where the taxes have already been paid on the profit by the business. But you already knew that...

[Cyber Liberty]

Very nice visualization to make it easy to see.

An even better  visualization would have been Buffett putting his fat wallet where his fat mouth was, and cutting the Treasury a check rather than hypocritically demanding higher taxes on other people.  Lead by example, Warren.

[OfTheCross]

That's because the income of the very rich are primarily from investments and not labor where the taxes have already been paid on the profit by the business. But you already knew that...

Of course, but that was likely the case before when they paid much more in tax than the middle class. The laws have changed in their favor.

[OfTheCross]

An even better  visualization would have been Buffett putting his fat wallet where his fat mouth was, and cutting the Treasury a check rather than hypocritically demanding higher taxes on other people.  Lead by example, Warren.

Other people, including himself, he's one of them.

[IsailedawayfromFR]

That's because the income of the very rich are primarily from investments and not labor where the taxes have already been paid on the profit by the business. But you already knew that...

Have you encountered many 12 year old who would know that?

[goatprairie]

Of course, but that was likely the case before when they paid much more in tax than the middle class. The laws have changed in their favor.

According to the IRS:

"In 2016, 140.9 million taxpayers reported earning $10.2 trillion in adjusted gross income and paid $1.4 trillion in individual income taxes.
The share of reported income earned by the top 1 percent of taxpayers fell slightly to 19.7 percent in 2016. Their share of federal individual income taxes fell slightly, to 37.3 percent.
In 2016, the top 50 percent of all taxpayers paid 97 percent of all individual income taxes, while the bottom 50 percent paid the remaining 3 percent.
The top 1 percent paid a greater share of individual income taxes (37.3 percent) than the bottom 90 percent combined (30.5 percent).
The top 1 percent of taxpayers paid a 26.9 percent individual income tax rate, which is more than seven times higher than taxpayers in the bottom 50 percent (3.7 percent)."

Now what were you saying?

[OfTheCross]

According to the IRS:

"In 2016, 140.9 million taxpayers reported earning $10.2 trillion in adjusted gross income and paid $1.4 trillion in individual income taxes.
The share of reported income earned by the top 1 percent of taxpayers fell slightly to 19.7 percent in 2016. Their share of federal individual income taxes fell slightly, to 37.3 percent.
In 2016, the top 50 percent of all taxpayers paid 97 percent of all individual income taxes, while the bottom 50 percent paid the remaining 3 percent.
The top 1 percent paid a greater share of individual income taxes (37.3 percent) than the bottom 90 percent combined (30.5 percent).
The top 1 percent of taxpayers paid a 26.9 percent individual income tax rate, which is more than seven times higher than taxpayers in the bottom 50 percent (3.7 percent)."

Now what were you saying?

the article isn't speaking only on Federal income tax


"For the first time on record, the 400 wealthiest Americans last year paid a lower total tax rate — spanning federal, state and local taxes — than any other income group, according to newly released data."

[goatprairie]

the article isn't speaking only on Federal income tax


"For the first time on record, the 400 wealthiest Americans last year paid a lower total tax rate — spanning federal, state and local taxes — than any other income group, according to newly released data."

The super rich pay far more in taxes than the bottom classes...that's a fact.
My advice to you is to quit worrying about what other people have, and improve your own status.
Nobody is getting jobbed in America because the rich don't pay enough in taxes...in your opinion.
Have you ever considered that maybe all Americans are getting taxed too much?
Socialism doesn't work. I think maybe you're on the wrong forum, because whatever you're selling brother, the faithful here just aren't buying.

[Cyber Liberty]

My advice to you is to quit worrying about what other people have, and improve your own status.

Do yourself a favor, @OfTheCross:  Read what I highlighted by @goatprairie.  When finished, read it two more times.  Learn it.  Then read it one more time, we'll wait.

You only have the right to determine and affect your own status.  You have no right to try to affect the status of others.  What you are practicing when you concern yourself with others income and taxes is called "Envy," and is one of the worst character flaw you can have.  Stop it, and you will become a happier person.

[OfTheCross]

Do yourself a favor, @OfTheCross:  Read what I highlighted by @goatprairie.  When finished, read it two more times.  Learn it.  Then read it one more time, we'll wait.

You only have the right to determine and affect your own status.  You have no right to try to affect the status of others.  What you are practicing when you concern yourself with others income and taxes is called "Envy," and is one of the worst character flaw you can have.  Stop it, and you will become a happier person.

No envy here, buddy. I'm doing great. I wish greatness on everyone else too.

[Hoodat]

Almost a decade ago, Warren Buffett made a claim that would become famous. He said that he paid a lower tax rate than his secretary

This is BS. Warren Buffett pays a much higher tax rate on investment income than his secretary.

[Cyber Liberty]

No envy here, buddy. I'm doing great. I wish greatness on everyone else too.

I don't believe you, or you would not be posting articles bitching about how the rich don't pay enough taxes, or less than you.  Stop lying.

[OfTheCross]

I don't believe you, or you would not be posting articles bitching about how the rich don't pay enough taxes, or less than you.  Stop lying.

Who's bitching? I'm just sharing info and sparking a discussion.

We're all working within the confines of our American system. Taxes exist, and government spending exists.

[Wingnut]

Who's bitching? I'm just sharing info and sparking a discussion.

Sparking a discussion?  We call that Trolling.

[Cyber Liberty]

Sparking a discussion?  We call that Trolling.

And I call it "wasting Briefers' time."  You say Toe-MAY-toe, I say Toe-MAH-toe.  Let's call the whole thing off.

[Cyber Liberty]

Who's bitching? I'm just sharing info and sparking a discussion.

We're all working within the confines of our American system. Taxes exist, and government spending exists.

And you have no right to point at other people and say they aren't paying enough taxes because they are weathier than you.  That's it.

[berdie]

No envy here, buddy. I'm doing great. I wish greatness on everyone else too.

That is very compassionate of you. But everybody has the same opportunities. It has nothing to do with what taxes the rich pay.

I hope the rich get richer. They, for the most part, are the job creators. They pay, percentage wise, higher taxes than most of us do.

[OfTheCross]

And you have no right to point at other people and say they aren't paying enough taxes because they are weathier than you.  That's it.

I didn't do what you're accusing me of.

But hypothetically speaking, do I have a right to point at other people and say they are paying too much taxes because they're poorer than me?

[Wingnut]

I didn't do what you're accusing me of.

But hypothetically speaking, do I have a right to point at other people and say they are paying too much taxes because they're poorer than me?

Classic deflection.  A Troll tactic

[GtHawk]

I didn't do what you're accusing me of.

But hypothetically speaking, do I have a right to point at other people and say they are paying too much taxes because they're poorer than me?

Hey why not point at the illegals that game the system and file for refunds on taxes they never paid while collecting free shit paid for by Americans that actually pay taxes?
Why bitch about the wealthy who not only pay a lot in taxes but also produce jobs through their businesses and purchases which contribute..........oh what is that word I'm looking for ............oh yeah TAXES! Which our government local, state and federal spend as if it was monopoly money. 

[OfTheCross]

Hey why not point at the illegals that game the system and file for refunds on taxes they never paid while collecting free shit paid for by Americans that actually pay taxes?
Why bitch about the wealthy who not only pay a lot in taxes but also produce jobs through their businesses and purchases which contribute..........oh what is that word I'm looking for ............oh yeah TAXES! Which our government local, state and federal spend as if it was monopoly money. 

Again, I'm not complaining.

What I will complain about, though, is the bolded. We elect these guys right? The tea-party swept in on this exact platform. Pres. Trump was supposed to reign in our deficit and debt. Yet nothing has happened on that front, and the public isn't outraged.

It's as if everyone is happy with the way things are. In which case, we get what we deserve.

[Cyber Liberty]

Hey why not point at the illegals that game the system and file for refunds on taxes they never paid while collecting free shit paid for by Americans that actually pay taxes?
Why bitch about the wealthy who not only pay a lot in taxes but also produce jobs through their businesses and purchases which contribute..........oh what is that word I'm looking for ............oh yeah TAXES! Which our government local, state and federal spend as if it was monopoly money. 

Because then you're being a Rayciss.

[Cyber Liberty]

I didn't do what you're accusing me of.

But hypothetically speaking, do I have a right to point at other people and say they are paying too much taxes because they're poorer than me?

Please note the Title of the article YOU posted:

The Rich Really Do Pay Lower Taxes Than You

You would not have posted it, were you not making the argument I said.  Stop being cute with us.