Says you. But it's all about the capital gains break. Effective Tax Rates of the Richest 400 Americans
Quit bragging! That doesn't change the fact that Supa is making. The effective rate of the top 1% is higher than anyone else's effective rate.
Says the CBO, hoss. Effective Tax Rates Your arguments do not stand up to the facts. You stance is clearly wrong. Everyone except maybe Lasalle can see it.
According to the WSJ, if we took the top 10% of taxpayers (in 2008, that was everyone over $114,000 a year - those people paid 69% of the taxes), and took 100% of their taxable income, it still would not be enough to pay off the defecit. We CAN NOT tax ourselves out of the current mess. Review & Outlook: Where the Tax Money Is - WSJ.com
Wise up. Your table and my chart both show that the top 1% pay effective rates of less than 20%. Meanwhile their portion of the total taxes dropped 6%. What you ignore about the chart is that it reveals the curve of the richest clearly tracks the lowered capital gains taxes, not the lowered income tax rates. Why? Because the rich make the bulk of their money on interest and capital gains. They get a huge break.
Finish the statement! The 20% effective rate is the highest. Exactly what I said. Not true. See the charts I posted in post 88. The total income percentage for the top 1% has climbed from from 9% to 19%. The share of the individual income tax liability has climbed from 18% to 39%. So what?
The table you just posted shows that their total tax liabilities dropped from 37% in 1979 to 31.2%. You figure it out. I'm not holding your hand.
That top chart is inclusive of all federal taxes such as payroll taxes, federal excise taxes, FUTA, and the individual income tax etc. I was referencing the second table which shows only individual income taxes. I think it is more along the lines of you not wanting to admit the entire premise of your argument is based on jealousy of the rich and not on anything that can be perceived as a fact.
I think it is more along the lines of you kissing the asses of the rich, like it will rub off on you somehow. You have swallowed their BS hook, line and sinker.
