F and B Wrote: I am new to this forum. But I challenge you all to read your own Forum Rules and advise as to why any free thinking American would want to be on this site. You actually have rules to limit criticism regarding Democrats and to be supportive and positive towards them? But you say you do not have many rules on what you can post on conservatives ? Are you serious or is that a joke ? Welcome to the Echo Chamber ! (feels just like MSNBC) . I recommend you read the rules and do the American thing. Goodbye.
Schmidt Wrote: We discussed this in another thread. I'm duplicating the main points here.
Focusing on just income taxes doesn't tell the whole story. The Center for Tax Justice has compiled numbers that include federal, state and local taxes.
Who Pays Taxes in America, April 4, 2012
It’s often claimed that the richest Americans pay a disproportionate share of taxes while those in the bottom half pay nothing. These claims ignore the many taxes that most Americans are subject to — federal payroll taxes, federal excise taxes, state and local taxes — and focus instead on just one tax, the federal personal income tax. The other taxes are mostly regressive, meaning they take a larger share of income from a poor or middle-income family than they take from a rich family.
Virtually every person in America pays some type of tax. Everyone who works pays federal payroll taxes.Everyone who buys gasoline pays federal and state gas taxes. People who shop in stores pay the sales taxes that most state and local governments impose. State and local property taxes affect everyone who owns or rents a home. (Even renters pay property taxes because landlords pass some of the tax on to them in the form of higher rents). Most states also have income taxes, most of which are not particularly progressive.
According to the CTJ analysis, the lowest 20 percent income bracket (average income $13,000) pays 17.4 percent of their income in taxes.
The top 10 percent ($105,000 average income) pays 29.5 percent of their income in taxes. They also pay 15 percent of the total taxes collected. That's considerably below the 70 percent figure cited by Kenmore.
The top 1 percent ($1,371,000 average income) pays 29.0 percent of their income in taxes.
michaels39301 Wrote: You are correct Kaytie, but that is just the simple escalating scale of our income taxes as they should be. If I made 1.3 million, I wouldn't mind paying
~ 400K in taxes on it. Gosh, that would leave me with a mere 900K to do with as I please. We all should me that fortunate.
Schmidt Wrote: Kayetie --
I guess my post didn't change your thinking. We have discussed income and wealth disparity many times in this website. I don't propose to go back and haul out all those posts. However, I think that a May 2011 Vanity Fair article by Joseph E. Stiglitz entitled, Of the 1%, by the 1%, for the 1%, captures the essence of our discussions. I would encourage you to read the entire article and then we can have a discussion. Stiglitz states:
Americans have been watching protests against oppressive regimes that concentrate massive wealth in the hands of an elite few. Yet in our own democracy, 1 percent of the people take nearly a quarter of the nation’s income—an inequality even the wealthy will come to regret.
Basically what Stiglitz is saying is that the widening wealth gap in America, much of it brought on by inequities in the tax system, but also in the greed of corporate CEOs in not sharing the productivity gains made by their employees, IS NOT SUSTAINABLE. I'm happy to engage you in any part of Stiglitz's article. Pick and choose and let's discuss.
The Occupy Wall Street (OWS) movement is just the start of a popular resistance to that wealth disparity. Pay attention. It will gather energy.