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Old June 6th, 2015, 03:47 PM   #1
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New Data Offer First Infuriating Glimpse At How The Richest 0.001 Percent Pay Income

New Data Offer First Infuriating Glimpse At How The Richest 0.001 Percent Pay Income Taxes | ThinkProgress

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. . .

The inflation-adjusted IRS numbers confirm what other evidence has suggested: middle class families have seen their earning power decline significantly even as life in the fast lane has gotten richer and richer. One-percenter incomes were about one-sixth higher in 2012 than in 2003, after adjusting for inflation. The richest one-thousandth of a percent of tax filers made about 75 percent more than they had a decade prior. But as those extremely rich people got richer, the middle class got poorer. The income threshold for being in the top half of all tax returns fell by 8 percent over the decade, creating the 2012 disparity between .001-percenters who earned at least $62 million, one-percenters making $435,000 or more, and workers paying federal income taxes on earnings as low as $36,055.
The rich don't pay more in taxes which depletes their wealth. their wealth has increased and their taxes are less. They get MORE income now because of gaining the most in wealth and paying much less in taxes.
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Old June 6th, 2015, 05:34 PM   #2
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Originally Posted by LongWinded View Post
New Data Offer First Infuriating Glimpse At How The Richest 0.001 Percent Pay Income Taxes | ThinkProgress



The rich don't pay more in taxes which depletes their wealth. their wealth has increased and their taxes are less. They get MORE income now because of gaining the most in wealth and paying much less in taxes.
The top 1% pay half of all federal income tax, and the top 10% pay around 70% of all taxes. It is time for the lower 90% to pay their fair share.
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Old June 6th, 2015, 05:57 PM   #3
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The richest 0.001 percent? That's Illuminati territory....
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Old June 6th, 2015, 06:03 PM   #4
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The top 1% pay half of all federal income tax, and the top 10% pay around 70% of all taxes. It is time for the lower 90% to pay their fair share.
I'd eliminate the income tax for the lower 90%, just a small 1% increase in the rate would keep it revenue neutral.....
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Old June 6th, 2015, 06:07 PM   #5
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I'd eliminate the income tax for the lower 90%, just a small 1% increase in the rate would keep it revenue neutral.....
Sounds good to me as long as they were not allowed to vote.
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Old June 6th, 2015, 07:03 PM   #6
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Sounds good to me as long as they were not allowed to vote.
No voting, Legislatures would be chosen by lot, guarantees a good cross section of the populace, keeps money out of politics...
Thanks from imaginethat
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Old June 6th, 2015, 07:10 PM   #7
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No voting, Legislatures would be chosen by lot, guarantees a good cross section of the populace, keeps money out of politics...
Great idea!!!
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Old June 6th, 2015, 07:22 PM   #8
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No voting, Legislatures would be chosen by lot, guarantees a good cross section of the populace, keeps money out of politics...
Only those whose money is being spent should be able to elect who will be spending their money.
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