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Do 1 percenters pay their fair share of taxes?

Temlakos~POTL~PWCM~JLA~☆ 2012/04/23 23:55:39
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By many estimates, roughly half of the American population doesn’t
pay taxes. However, the left’s mantra is that the rich need to pay their
fair share, which they claim is more than the rich are now paying. So, just how much in taxes do the top 1 percent pay and how much do they earn?


Taxes: actual facts

FactCheck.org cites the 2007 CBO report and says:


The top 1 percent in 2005 were those households with
income of at least $307,500, and they got 18.1 percent of all
“comprehensive” income, which includes all cash income plus the cash
value of such benefits as Medicare and food stamps.


As for taxes, CBO calculates that the top 1 percent paid 27.6 percent of all federal taxes, including:


  • 38.8 percent of federal individual income taxes
  • 4.0 percent of federal social insurance taxes (Social Security and Medicare)
  • 58.6 percent of corporate income taxes (indirectly, through stock ownership)
  • 5.5 percent of federal excise taxes (on such things as gasoline, tobacco, alcoholic beverages and telephones.)

Share of total Federal taxes paid by the top 1 percent of earners

Share of total Federal taxes paid by the top 1 percent of earners, 1979-2005. Source: FactCheck/Congressional Budget Office


To sum up, the top 1 percent earning at least $307,500 annually pay
38.8 percent of federal individual income taxes, 4.0 percent of Social
Security and Medicare, 58.6 percent of corporate income taxes, and 5.5
percent of federal excise taxes. That’s a lot of taxes.


BUT…approximately half of our American citizens do not pay any tax at
all. Is this fair? The left would say it is. They would further argue
that the rich need to pay more, since they have more.


Well, I don’t think our tax system that doesn’t require half of our
citizens to contribute is fair. I would argue that the half that doesn’t
pay taxes should. No, I don’t think they should be over-burdened, but
they should pay their fair share – whatever that may be – and I can
assure you that it’s not zero!

Read More: http://www.conservativenewsandviews.com/2012/04/23...

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Top Opinion

  • Fef 2012/04/23 23:56:26 (edited)
    More than their fair share
    Fef
    +13
    tax percentage 1 percent

    Edit: for those who need help, this shows that the top 1% of income earners (i.e. "the 1%ers") pay more than 36% of ALL federal income taxes. They pay as much taxes as the next 9%.

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  • KCHUSKER 2014/06/30 13:47:53
    Undecided
    KCHUSKER
    +1
    Nobody ever seems to have a working definition of what constitutes fairness.
  • ConLibFraud 2014/06/30 12:21:07
    Undecided
    ConLibFraud
    NONE OF THE ABOVE

  • carolynb 2014/06/30 11:09:22
    Undecided
    carolynb
    +1
    Based on income, they do pay their fair share.
  • GoDucks5 2014/06/30 09:11:23
    More than their fair share
    GoDucks5
    +1
    They pay 37% of all taxes. The top 20 percent pay 93% of all taxes. The average one percenter pays half a million in taxes.
  • UrbanHillbilly 2014/06/29 11:34:37
    Less than their fair share
    UrbanHillbilly
    They pay the most tax, because they have the most money. 17% of my income isn't a fraction of the 1%'s 1%. If the 1% paid as much of their income in taxes as I do, our budget problems would go away in just a few years.
  • Temlako... UrbanHi... 2014/06/29 11:49:26
    Temlakos~POTL~PWCM~JLA~☆
    +1
    You forget the "progressive" nature of taxes.

    What do they get for their trouble? Seems to me you're shaking them down. "Pay up or we'll trash your house."
  • UrbanHi... Temlako... 2014/06/29 20:01:23
    UrbanHillbilly
    The progressive nature of our tax system is undermined by the ability of wealthy folks to exempt large portions of their income from taxation.
  • Temlako... UrbanHi... 2014/06/29 20:09:31
    Temlakos~POTL~PWCM~JLA~☆
    I don't see you recommending any lowering of rates. Do that, and a lot of so-called tax shelters wouldn't be worth "sheltering under."
  • UrbanHi... Temlako... 2014/06/29 20:39:48
    UrbanHillbilly
    +1
    Dude, I wouldn't have the slightest problem with lower tax rates if it translated to better tax collection. I'm of the mind that the corporate income tax is so fouled up we might as well abolish it.

    Of course, that's never going to happen. Tax lawyers have their lobby too. Simplifying the tax code would result in thousands of highly paid professionals being laid off.
  • Temlako... UrbanHi... 2014/06/29 20:44:41
    Temlakos~POTL~PWCM~JLA~☆
    In the past, it has led to better tax collection. The Kemp-Roth Act cut tax rates so much, the "one-percenters" didn't find taxes worth dodging.
  • UrbanHi... Temlako... 2014/06/29 21:06:57
    UrbanHillbilly
    The question isn't one of compliance but of paying a fair share. Those that reap the greatest reward from society should pay the greatest amount to keep it functioning. As it is, it's the people making just enough to have some level of comfort that are paying the highest percentage of their income in taxes. That isn't fair.
  • Temlako... UrbanHi... 2014/06/30 00:10:11
    Temlakos~POTL~PWCM~JLA~☆
    The only rewards anyone reaps from a free society come from trade. Those best at trade, do a favor for their fellows by providing trade goods, services, and employment.

    Your theory begins to look very much like the rationale, which is to say rationalization, of a protection racket.
  • UrbanHi... Temlako... 2014/06/30 02:37:45
    UrbanHillbilly
    That's quite a jump to protection racket.

    Rich people are good for the economy. We need more. That's the problem. When you just have a few, skimming off the top, while moving the wealth out of our country, the rest of the country withers.
  • Temlako... UrbanHi... 2014/06/30 02:59:41
    Temlakos~POTL~PWCM~JLA~☆
    Everything depends on how free a society is, and what one does to get rich, and stay that way.

    To all too many people, rich = evil, no matter their activities.
  • UrbanHi... Temlako... 2014/06/30 04:47:04
    UrbanHillbilly
    Hard times make for hard choices. I doubt survivors of the Donner Party relished eating their friends and family.
  • Temlako... UrbanHi... 2014/06/30 10:27:44
    Temlakos~POTL~PWCM~JLA~☆
    Non sequitur. And the only reason times are hard is that Barack H. Obama made them hard.
  • UrbanHi... Temlako... 2014/06/30 15:31:34
    UrbanHillbilly
    +1
    A lot of people on this forum characterize the poor as 'wanting something for nothing.' I haven't heard a tirade against the rich since my father was alive. He was a child of the Depression and a veteran of WWII. He died in 1980, so it's been a long time since I've heard anybody badmouth the rich as a class.

    What I have heard in later years is people complain about our economic system and tax scheme being weighted in favor of the rich. This is very different as so much in life is a negotiation, at least theoretically. As individuals, we follow the Golden Rule: He who owns the gold makes all the rules.

    To bolster their bargaining position, the "poor" rely on the government and unions. While a union is a one-sided institution, the government is fought over. As evidenced by 'free trade' agreements and a complete lack of control over immigration, the government has been firmly set against the 'poor' for a few decades.

    As far as Obama making things worse, you'd be pointing at the things he's doing on behalf of the 'poor.' The fact is, most of what he does is on behalf of the 'rich' because the 'rich' have real political power.
  • ybnormall 2014/06/25 00:54:00
    Undecided
    ybnormall
    Anyone who can figure out the tax laws clearly, or who can hire someone who has, don't pay their fair share.
  • Katherine 2013/11/27 06:39:20
    More than their fair share
    Katherine
    +1
    They pay more than I do.. I think we should just have a federal and state sales tax.
  • DefendnProtect 2012/06/28 10:32:27
    Less than their fair share
    DefendnProtect
    +1
    That doesn't mean we should introduce more taxes. ON THE CONTRARY!

    We should LOWER taxes for the middle class. ABOLISH the middle class INCOME TAX.

    Next to stopping the stealing of the middle class we should cut the spending in the Washington Den of Corruption seriously. Much of this money is wasted on corrupt insider deals such as Obamacare for ueber rich owners of corporations in bed with the Whitehouse and Congress bribing the politicians, playing them as puppets.

    Also Pentagon contractors $2.3 TRILLION missing the day just before 911.


    wealth distribution US
    The American Dream is broken by insider deals, it needs to be restored by slashing the institutions and prosecuting the persons that corrupted the dream.
  • Annie~Pro American~Pro Israel 2012/06/25 09:16:33
    More than their fair share
    Annie~Pro American~Pro Israel
    +2
    Its time for everyone in America now to pay their fair share, including that 50% that pay no taxes at all, thanks to Bush.
  • steven.... Annie~P... 2014/11/14 20:54:25
    steven.king.75
    +2
    the bottom 47% of Americans that do not pay taxes Where doing so long before George H.W. Bush and his son George W. Bush
  • Ministerofblog 2012/04/30 02:18:44
    More than their fair share
    Ministerofblog
    +3
    The real issue is do the so-called 99% (a made up number) who sit on their collective butts and leach off the rest of us have the right to destroy America to make a political point? Its a fact that the top earners in this country PAY MORE in taxes than those who complain the most.

    Whiners traditionally do nothing to improve our lives they just become pricks in our sides and stop progress as it was meant to be. Obama's issue is NOT with the very rich, a LOT OF THEM ARE HIS SUPPORTERS. His problem is with SMALL BUSINESSES WHO FUEL CAPITALISM, the war is on them not the top 1% its all a smokescreen to cover his real attacks.



    Those who hate Capitalism hate the fact that it works, unlike Socialism which has failed in every attempt to fuel an economy anywhere. They still must siphon funding from Capitalistic nations to make theirs work. (China, Cuba) And as if that were not hypocritical enough they must BECOME what they SAY they hate in order to bring us down, ARE WE BLIND? WHY IS SOROS RICH IF BEING RICH IS EVIL, is it only bad if the middle class gets the money? 250,000 a year IS NOT RICH if you pay out to employ others and keep cities running smoothly.



    The PROOF is in the pudding, cities that FAIL ARE RUN BY PROGRESSIVES not Capitalists, this is their idea of progres...

















    The real issue is do the so-called 99% (a made up number) who sit on their collective butts and leach off the rest of us have the right to destroy America to make a political point? Its a fact that the top earners in this country PAY MORE in taxes than those who complain the most.

    Whiners traditionally do nothing to improve our lives they just become pricks in our sides and stop progress as it was meant to be. Obama's issue is NOT with the very rich, a LOT OF THEM ARE HIS SUPPORTERS. His problem is with SMALL BUSINESSES WHO FUEL CAPITALISM, the war is on them not the top 1% its all a smokescreen to cover his real attacks.

    Top Earners

    Those who hate Capitalism hate the fact that it works, unlike Socialism which has failed in every attempt to fuel an economy anywhere. They still must siphon funding from Capitalistic nations to make theirs work. (China, Cuba) And as if that were not hypocritical enough they must BECOME what they SAY they hate in order to bring us down, ARE WE BLIND? WHY IS SOROS RICH IF BEING RICH IS EVIL, is it only bad if the middle class gets the money? 250,000 a year IS NOT RICH if you pay out to employ others and keep cities running smoothly.

    Who doesn t pay

    The PROOF is in the pudding, cities that FAIL ARE RUN BY PROGRESSIVES not Capitalists, this is their idea of progress I guess!:

    Progressive progress

    sIMPLE

    Quite the Economic enslavement (I mean achievement) there:
    Economic Record

    At least Obama can ADD!

    At least he can add

    What's FAIR mean? Fair to a progressive is getting what others have and never having to work for it, Fair means living off the government your whole life and complaining you can't make your life better. What's Fair about any of that? Nothing, its completely moronic to think you can USE, AND USE AND USE without giving something back to those who helped you. That's Socialistic stupidity to the core and proves Obama doesn't deserve a second chance to finish destroying our country!

    WE THE PEOPLE ARE THE 70% WHO MAKE AMERICA RUN BY PAYING ABOVE OUR FAIR SHARE WHILE THEY ARE THE LEACHES WHO BLEED AMERICA DRY!


    PROBLEM EXPLAINED
    (more)
  • Katherine Ministe... 2013/11/27 06:41:24
    Katherine
    +2
    "His problem is with SMALL BUSINESSES WHO FUEL CAPITALISM"

    Wow, that was a good catch. Thank you.
  • Not-A-RINO 2012/04/28 14:42:19
    More than their fair share
    Not-A-RINO
    +6
    A couple things to consider here - The graduated income tax is found in the Communist Manifesto, a document hardly advocating freedom.

    Another point is the wealthier Americans hire a lot of people who pay taxes. Consider what happened when Bill Clinton jacked up the luxury tax on yachts. Did it stick it to the rich? No, but it did throw the guy who built those yachts out of work.

    The wealthy don't live in a vacuum and when they open a business, they buy supplies from vendors, pay for professional services and (again) hire employees. Every time money changes hands you can count on Uncle Sam taking his cut of the pie.

    One time I had a co-worker in a union shop advocating the graduated income tax. I jumped in and told the guys where to find it (see above) and it's inherently unfair and counter-productive because it punishes investment, achievement and hard work. However, if you still think it's a good idea, let's apply it to everyday life...

    You go to a department store and find a pair of shoes you really like. They fit well and look great on you. To your surprise they are on clearance for $29.95! You go up to the cashier who tells you the price is $45. You explain she must have made a mistake because the tag says they are on clearance for $29.95. She tells you, "I know you w...

    A couple things to consider here - The graduated income tax is found in the Communist Manifesto, a document hardly advocating freedom.

    Another point is the wealthier Americans hire a lot of people who pay taxes. Consider what happened when Bill Clinton jacked up the luxury tax on yachts. Did it stick it to the rich? No, but it did throw the guy who built those yachts out of work.

    The wealthy don't live in a vacuum and when they open a business, they buy supplies from vendors, pay for professional services and (again) hire employees. Every time money changes hands you can count on Uncle Sam taking his cut of the pie.

    One time I had a co-worker in a union shop advocating the graduated income tax. I jumped in and told the guys where to find it (see above) and it's inherently unfair and counter-productive because it punishes investment, achievement and hard work. However, if you still think it's a good idea, let's apply it to everyday life...

    You go to a department store and find a pair of shoes you really like. They fit well and look great on you. To your surprise they are on clearance for $29.95! You go up to the cashier who tells you the price is $45. You explain she must have made a mistake because the tag says they are on clearance for $29.95. She tells you, "I know you work at a union shop and make more money than the average guy so only to be fair I have to charge you $45." You would throw the shoes on the floor and walk away empty handed. Wealthy people, by default, pay more tax because the spend more money. However, they should pay the same RATE as everyone else. 15% of $1 million is a whole lot more than 15% of $40,000 - right?

    My last point is that being wealthy is not evil. Many of the people who came to this country thought they could become wealthy if they worked hard and it's no surprise to anyone they in fact did.
    (more)
  • ScottyG - Faqueue 2012/04/26 18:25:11
    More than their fair share
    ScottyG - Faqueue
    +5
    The 1% pays MOST of the taxes.

    My question is what about the 50% of America who pays nothing in taxes? Where is their fair share? Pay for the crap you use in America you freeloaders instead of asking those who already pay too much to pay for your lazy ass!
  • Stormy 2012/04/25 09:25:00
    Less than their fair share
    Stormy
    +2
    Of course they don't pay their fair share. That's why the rich are getting richer , the poor and the middle classes are getting poorer. The minimum wage in America is not a living wage and needs to be raised. People should not be working two jobs just to put a rented roof over their heads and feed and clothe their families.
    The super rich obviously need to pay as much tax as those they employ surely.
  • Katherine Stormy 2013/11/27 06:44:17
    Katherine
    +1
    A century at least of wealth redistribution and you guys are complaining more than ever. Maybe it's regressive taxes that are widening it.
  • steven.... Stormy 2014/11/14 21:00:24
    steven.king.75
    +3
    A raise in the minimum wage will raise the cost of living. The exact equation is increased cost of production = increased cost of product
  • cynsity 2012/04/24 22:01:04
    Undecided
    cynsity
    +1
    Would someone please define FAIR share... what the heck is FAIR share... I bet what I think is FAIR is not what you think is FAIR so first why not get an agreeded upon deffination and then we can ask this STUPID question.
  • seadog6608PWCM 2012/04/24 20:40:39
  • ScottyG... seadog6... 2012/04/26 18:27:11
    ScottyG - Faqueue
    +5
    Fair share = equal percentage!

    I'm glad you actually made sense of it for the math challenged libbies!
  • seadog6... ScottyG... 2012/04/26 20:31:57
  • ScottyG... seadog6... 2012/04/26 20:43:35
    ScottyG - Faqueue
    +4
    Or English, spelling, math, science, morals, common sense.... the list of what they don't teach is longer than what they do!
  • seadog6... ScottyG... 2012/04/26 20:52:44
  • ScottyG... seadog6... 2012/04/26 20:58:21
    ScottyG - Faqueue
    +3
    In my words they are 1. PC. 2. Racism. 3. Freebies!
  • eric.mo... seadog6... 2012/06/25 02:48:58
    eric.morriss.5
    +3
    Difference being you can live on $80000, you can't live on $8000
  • seadog6... eric.mo... 2012/06/25 07:33:18
  • Catch224u 2012/04/24 20:29:52
    More than their fair share
    Catch224u
    +7
    Think about this, taxpayers.
    Not only do you pay Federal tax, but in most states a statetax as well. Then you pay land tax,sales tax ,tax on gasoline , all kinds of permit taxes and taxes and taxes and taxes.
    What % of our income do we really get to keep ?
  • FeedFwd ~POTL 2012/04/24 18:13:30
    More than their fair share
    FeedFwd ~POTL
    +6
    They pay not only their share, but a lot of other people's share as well. You would think those who can't pay their share would be more grateful and less hostile to those who help support them.
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