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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
    +11
    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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  • 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
    +1
    Its time for everyone in America now to pay their fair share, including that 50% that pay no taxes at all, thanks to Bush.
  • Ministerofblog 2012/04/30 02:18:44
    More than their fair share
    Ministerofblog
    +2
    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
    +5
    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
    +4
    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
    +1
    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.
  • 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
    +3
    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
    +3
    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
    +6
    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
    +5
    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.
  • johnnyg 2012/04/24 17:16:20
    More than their fair share
    johnnyg
    +5
    Everyone except for USGovt pays more than their fair share.
  • rightside 2012/04/24 16:57:05
    Less than their fair share
    rightside
    +6
    jeffery immelt's company didn't pay their taxes last year. tim geitner didn't pay taxes before he was appointed treasurer of the US.
    I guess its just bama's friends that don't pay their fair share!
  • Temlako... rightside 2012/04/24 18:17:17
    Temlakos~POTL~PWCM~JLA~☆
    +6
    Correct! Of course, I was referring to the bulk of the "one percent" that are NOT bama's friends.
  • rightside Temlako... 2012/04/24 19:00:15
    rightside
    +4
    LOL!!!
    Oh! Those people!
  • JoeM~PWCM~JLA 2012/04/24 16:53:38
    More than their fair share
    JoeM~PWCM~JLA
    +6
    The whole system needs to be overhauled.
  • Opinionated-Conservative 2012/04/24 16:46:52
    About their fair share
    Opinionated-Conservative
  • DDogbreath 2012/04/24 16:36:06
    More than their fair share
    DDogbreath
    +3
    Everyone pays far too much in taxes.

    pays taxes
  • Dan (Politicaly Incorrect) 2012/04/24 16:27:51
    More than their fair share
    Dan (Politicaly Incorrect)
    +3
    I would like to se a liberal define, what is a fair share.
  • Dan (Po... Dan (Po... 2012/04/24 16:31:49
    Dan (Politicaly Incorrect)
    +4
    Some people think that income taxes were being payed in 1811 and there were government run schools at that time also. That is a Libtard myth.
  • Katherine Dan (Po... 2013/11/27 07:05:47
    Katherine
    +1
    Sounds like a sales tax on imports...
  • ScottyG... Dan (Po... 2012/04/26 18:30:16
    ScottyG - Faqueue
    +1
    Liberals define fair share as not having to reach in their own pockets ( because they are empty due to being on welfare) and instead raping those that pay most of the bills.

    But, we all know that liberals have no consciences or morals, so they don't mind screwing anybody as long as it's not them.
  • CUDDLY BUT STILL CRABBY 2012/04/24 16:21:25
    More than their fair share
    CUDDLY BUT STILL CRABBY
    +3
    That's EXACTLY why there will be no hiring until BHO is kicked out of office.
  • Tea in the Harbor 2012/04/24 15:45:47
    Less than their fair share
    Tea in the Harbor
    +1
    Of course to answer this question you have to define what their "fair share" is.

    Thomas Jefferson put forward the idea that only the wealthy should pay any taxes at all, on the premise that the people whom the system is working for should pay for the system. He proposed in an 1811 letter to General Thaddeus Kosciuszko that "The farmer will see his government supported, his children educated, and the face of this country made a paradise by the contributions of the rich alone, without his being called on to spend a cent from his earnings."

    I'd expand that and say that it's immoral to ask the poor to finance the system that has resulted in their poverty.

    All taxes should come from people who have disposable income, they are the ones profiting from what the nation has done, so they should be paying for the source of their good fortune.
  • Rod 2012/04/24 14:46:10
    Undecided
    Rod
    +4
    No one has yet to explain to me what "their fair share is". How much should that be? It wouldn't do anything to help bring down our debt or to balance the budget. What we need to do in this country is to tighten the belt in Washington DC and spend less money.
  • ack Rod 2012/04/24 23:27:18
    ack
    Kinda like what is the optimum sea level, CO2 level or temperature level. Who knows?
  • ScottyG... Rod 2012/04/26 18:33:46
    ScottyG - Faqueue
    +2
    How about eliminating most of DC since it's mostly redundant anyway. The govt spent $486 billion in redundant services last fiscal year.

    I say that's a good start.
  • eric.mo... Rod 2012/06/25 03:01:25
    eric.morriss.5
    +1
    IMO, not so much fair share as making enough to live on and perhaps sending your children to college. One person may not have had as good a start as Mitt Romney or John Kerry but does that mean his children should suffer as well? Easy to live on 150,000, not so easy on 15000
  • Rod eric.mo... 2012/06/28 13:15:35 (edited)
    Rod
    +2
    Well let's say that the rich are taxed at a 90% level. If you do your research you will find out that that wouldn't even balance our US budget this year so that still doesn't give you any extra money. And those that are paying a 90% tax are less apt to invest in anything let alone jobs.

    Let's pretend that somehow there is some extra money to spread around. Are you assuming that because you live in the US that you are just "entitled" to some of that money? How much should you be "given", especially since you didn't "earn" it.?

    You work at a minimum wage job if you only make $15,000 dollars a year so are you then saying that your employer should raise your wages to, let's just say, to a minimum of $50,000 dollars a year? What's the limit? And where does that money come from? The owner of your business would have to almost triple his prices to still make a profit. If everyone had to triple their prices to match those kinds of wages then you would be right back where you started.

    Let's get real here. "Taking" money from someone else that you didn't earn is stealing or is charity. Just because you may be working doesn't entitle you to wages above and beyond what the employer can afford to pay or for what the job is worth. An engineers employment value is much higher than someone that...

    Well let's say that the rich are taxed at a 90% level. If you do your research you will find out that that wouldn't even balance our US budget this year so that still doesn't give you any extra money. And those that are paying a 90% tax are less apt to invest in anything let alone jobs.

    Let's pretend that somehow there is some extra money to spread around. Are you assuming that because you live in the US that you are just "entitled" to some of that money? How much should you be "given", especially since you didn't "earn" it.?

    You work at a minimum wage job if you only make $15,000 dollars a year so are you then saying that your employer should raise your wages to, let's just say, to a minimum of $50,000 dollars a year? What's the limit? And where does that money come from? The owner of your business would have to almost triple his prices to still make a profit. If everyone had to triple their prices to match those kinds of wages then you would be right back where you started.

    Let's get real here. "Taking" money from someone else that you didn't earn is stealing or is charity. Just because you may be working doesn't entitle you to wages above and beyond what the employer can afford to pay or for what the job is worth. An engineers employment value is much higher than someone that is sweeping floors and the engineer should be paid more, much more. You are not entitled to anything except for "Life, Liberty and the pursuit of Happiness". It's too bad that you were not born with the same money and opportunities as some one like Romney or Kerry, but who ever told you that life was fair? At this point you have to become super determined and make your own "luck" and stop feeling that just because someone else has something that you want, or even need, then you are entitled to have what you need and want without first earning it.

    There is no such thing as total equality in this life. Some people are richer, or smarter or have "good' parents. Other may be stronger, healthier, or better looking. That list could go on and on. I don't have an answer for you except to keep trying and work very hard.
    (more)
  • Defendn... Rod 2012/06/28 10:35:55
    DefendnProtect
    So true!
  • S and S 2012/04/24 12:08:57

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