Page 1 of 7 123 ... LastLast
Results 1 to 20 of 136

Thread: CBO: Top 40% paid 106% of income taxes...

  1. #1
    I <3 Ron Paul + gilesfan sturg33's Avatar
    Join Date
    Jul 2013
    Posts
    52,573
    Thanks Thanks Given 
    1,018
    Thanks Thanks Received 
    8,093
    Thanked in
    5,756 Posts

    CBO: Top 40% paid 106% of income taxes...

    CBO:Top 40% Paid 106.2% of Income Taxes; Bottom 40% Paid -9.1%, Got Average of $18,950 in 'Transfers'


    Oooh... this one looks ugly.

    Taxpayers in the top 40 percent of households were able to pay more than 100 percent of net federal income taxes in 2010 because Americans in the bottom 40 percent actually paid negative income taxes, according to the CBO study entitled, “The Distribution of Household Income and Federal Taxes, 2010.”

    “When refundable tax credits, such as the earned income tax credit and the child tax credit, exceed the other federal tax liabilities of the households in an income group, those households are said to have a negative average tax rate,” said the CBO study.

    “In its analysis, CBO measured individual income taxes net of refundable credits,” it said.
    This one is worth the read... And it's from the CBO - so I think it's safe to assume the numbers are distorted to make them look less bad than they are.

    But hey, the RICH SHOULD PAY MORE!!!!

  2. #2
    A Chip Off the Old Rock Julio3000's Avatar
    Join Date
    Jul 2013
    Posts
    15,038
    Thanks Thanks Given 
    6,273
    Thanks Thanks Received 
    9,790
    Thanked in
    5,155 Posts
    How do these figures, absent any context, make your case? I'm certain that we're all shocked to learn that relatively wealthier people pay more taxes.

    Bottom 40% Paid -9.1%, Got Average of $18,950 in 'Transfers'

    I'd be willing to bet that 2/3 of those transfers are Medicare (not Medicaid) and Social Security. Are you really going to gripe about that? If so, you are in a tiny minority, both in America and the world.

    So, two years after the financial meltdown, a lot of people were receiving unemployment benefits. Old people were getting social insurance. Neither group has much taxable income. Where's the shocker there?

  3. The Following 3 Users Say Thank You to Julio3000 For This Useful Post:

    jpx7 (12-11-2013), Metaphysicist (12-12-2013), yeezus (12-11-2013)

  4. #3
    Making Atlanta Great Again!
    #MAGA!

    Promises MADE, Promises KEPT!
    The Chosen One's Avatar
    Join Date
    Jul 2013
    Location
    School of Hard Cox
    Posts
    25,337
    Thanks Thanks Given 
    8,593
    Thanks Thanks Received 
    9,752
    Thanked in
    5,746 Posts
    Quote Originally Posted by Julio3000 View Post
    How do these figures, absent any context, make your case? I'm certain that we're all shocked to learn that relatively wealthier people pay more taxes.

    Bottom 40% Paid -9.1%, Got Average of $18,950 in 'Transfers'

    I'd be willing to bet that 2/3 of those transfers are Medicare (not Medicaid) and Social Security. Are you really going to gripe about that? If so, you are in a tiny minority, both in America and the world.

    So, two years after the financial meltdown, a lot of people were receiving unemployment benefits. Old people were getting social insurance. Neither group has much taxable income. Where's the shocker there?
    The burden of the rich for paying taxes is so steep, that we might as well put chains on them and call them slaves to society. We're hindering their ability to pursue happiness.

    At least that's what I'm thinking sturg is thinking.
    Forever Fredi


  5. #4
    Hessmania Forever
    Join Date
    Jul 2013
    Posts
    13,994
    Thanks Thanks Given 
    4,887
    Thanks Thanks Received 
    7,678
    Thanked in
    4,941 Posts
    Quote Originally Posted by KeithLockhart View Post
    The burden of the rich for paying taxes is so steep, that we might as well put chains on them and call them slaves to society. We're hindering their ability to pursue happiness.

    At least that's what I'm thinking sturg is thinking.
    And it's all based on merit. Especially for those whose hardest job in life was being born.

  6. #5
    I <3 Ron Paul + gilesfan sturg33's Avatar
    Join Date
    Jul 2013
    Posts
    52,573
    Thanks Thanks Given 
    1,018
    Thanks Thanks Received 
    8,093
    Thanked in
    5,756 Posts
    LOL... yes. The rich don't pay enough. They should be paying 200% of taxes!!!

  7. #6
    Very Flirtatious, but Doubts What Love Is. jpx7's Avatar
    Join Date
    Jul 2013
    Posts
    11,902
    Thanks Thanks Given 
    47,590
    Thanks Thanks Received 
    6,440
    Thanked in
    3,829 Posts
    Quote Originally Posted by sturg33 View Post
    But hey, the RICH SHOULD PAY MORE!!!!
    Yep.

    Glad to see you're coming around.
    "For all his tattooings he was on the whole a clean, comely looking cannibal."

  8. The Following User Says Thank You to jpx7 For This Useful Post:

    Metaphysicist (12-12-2013)

  9. #7
    I <3 Ron Paul + gilesfan sturg33's Avatar
    Join Date
    Jul 2013
    Posts
    52,573
    Thanks Thanks Given 
    1,018
    Thanks Thanks Received 
    8,093
    Thanked in
    5,756 Posts
    Can someone explain to me how taxing rich people higher than non-rich people is NOT discrimination?

  10. The Following User Says Thank You to sturg33 For This Useful Post:

    FreemanFan (12-28-2013)

  11. #8
    Very Flirtatious, but Doubts What Love Is. jpx7's Avatar
    Join Date
    Jul 2013
    Posts
    11,902
    Thanks Thanks Given 
    47,590
    Thanks Thanks Received 
    6,440
    Thanked in
    3,829 Posts
    Quote Originally Posted by sturg33 View Post
    Can someone explain to me how taxing rich people higher than non-rich people is NOT discrimination?
    Why is a discriminating tax-scale that asks more of those who have (vastly) more a bad thing?

    Discrimination based on superfluous traits (say, race) is bad, but "discrimination" is not an inherently bad thing.
    "For all his tattooings he was on the whole a clean, comely looking cannibal."

  12. #9
    I <3 Ron Paul + gilesfan sturg33's Avatar
    Join Date
    Jul 2013
    Posts
    52,573
    Thanks Thanks Given 
    1,018
    Thanks Thanks Received 
    8,093
    Thanked in
    5,756 Posts
    LOL wow.

    So punishing one group of people more than another is fine, as long as the one group of people can afford it.

    We should tax Jews more than African Americans I guess

  13. #10
    A Chip Off the Old Rock Julio3000's Avatar
    Join Date
    Jul 2013
    Posts
    15,038
    Thanks Thanks Given 
    6,273
    Thanks Thanks Received 
    9,790
    Thanked in
    5,155 Posts
    Quote Originally Posted by sturg33 View Post
    LOL wow.

    So punishing one group of people more than another is fine, as long as the one group of people can afford it.

    We should tax Jews more than African Americans I guess
    Participating in the monumentally stupid game you propose would be giving sanction to the idea that taxes are punishment.

  14. The Following User Says Thank You to Julio3000 For This Useful Post:

    yeezus (12-11-2013)

  15. #11
    Very Flirtatious, but Doubts What Love Is. jpx7's Avatar
    Join Date
    Jul 2013
    Posts
    11,902
    Thanks Thanks Given 
    47,590
    Thanks Thanks Received 
    6,440
    Thanked in
    3,829 Posts
    Quote Originally Posted by sturg33 View Post
    We should tax Jews more than African Americans I guess
    Quote Originally Posted by jpx7 View Post
    Discrimination based on superfluous traits (say, race) is bad

    Quote Originally Posted by sturg33 View Post
    So punishing one group of people more than another is fine, as long as the one group of people can afford it.
    Taxation isn't "punishment."
    "For all his tattooings he was on the whole a clean, comely looking cannibal."

  16. #12
    Spring Training Invitee gtcway's Avatar
    Join Date
    Jul 2013
    Posts
    292
    Thanks Thanks Given 
    108
    Thanks Thanks Received 
    50
    Thanked in
    34 Posts
    I think everyone should pay the same percentage. If someone making $60,000 can survive giving up lets say 25% of their income, why can't someone making $6,000,000 survive on $4,500,000 a year? Maybe they can't buy that summer cottage on the beach they always wanted this year, but I think they can survive comfortably on just $4,500,000.

  17. The Following User Says Thank You to gtcway For This Useful Post:

    sturg33 (12-11-2013)

  18. #13
    Connoisseur of Minors zitothebrave's Avatar
    Join Date
    Jul 2013
    Location
    DANGERZONE
    Posts
    24,620
    Thanks Thanks Given 
    1,428
    Thanks Thanks Received 
    3,432
    Thanked in
    2,463 Posts
    The problem isn't the top 40% its the top like 0.1% and its not all of them just a handful. Classic republican strategy is to make people in the middle and upper middle class feel like they're getting squeezed.
    Stockholm, more densely populated than NYC - sturg

  19. The Following User Says Thank You to zitothebrave For This Useful Post:

    jpx7 (12-11-2013)

  20. #14
    Hessmania Forever
    Join Date
    Jul 2013
    Posts
    13,994
    Thanks Thanks Given 
    4,887
    Thanks Thanks Received 
    7,678
    Thanked in
    4,941 Posts
    Quote Originally Posted by gtcway View Post
    I think everyone should pay the same percentage. If someone making $60,000 can survive giving up lets say 25% of their income, why can't someone making $6,000,000 survive on $4,500,000 a year? Maybe they can't buy that summer cottage on the beach they always wanted this year, but I think they can survive comfortably on just $4,500,000.
    Are you keeping the same set of deductions/credits in your proposal? It may be counter-intuitive to some, but the framework of credits and deductions currently in place favor the middle and upper-middle classes. Where the rich make out like bandits is on the capital gains side of the equation, where capital gains are given a healthy preference over ordinary income. It's not quite that simple, but those at the higher end of the income scale are the ones reaping the largest capital gains both in real terms and relative to income.

  21. The Following 2 Users Say Thank You to 50PoundHead For This Useful Post:

    jpx7 (12-11-2013), yeezus (12-11-2013)

  22. #15
    I <3 Ron Paul + gilesfan sturg33's Avatar
    Join Date
    Jul 2013
    Posts
    52,573
    Thanks Thanks Given 
    1,018
    Thanks Thanks Received 
    8,093
    Thanked in
    5,756 Posts
    Quote Originally Posted by jpx7 View Post
    Taxation isn't "punishment."
    What would you describe it as, a reward?

    Do you send more money to the government than they force you to pay?

  23. #16
    I <3 Ron Paul + gilesfan sturg33's Avatar
    Join Date
    Jul 2013
    Posts
    52,573
    Thanks Thanks Given 
    1,018
    Thanks Thanks Received 
    8,093
    Thanked in
    5,756 Posts
    Quote Originally Posted by Julio3000 View Post
    Participating in the monumentally stupid game you propose would be giving sanction to the idea that taxes are punishment.
    I think MLB should force the Angels to trade us Mike Trout for BJ Upton, because they can afford it and we need the financial help.

  24. #17
    Awaiting a Promotion CK86's Avatar
    Join Date
    Jul 2013
    Posts
    578
    Thanks Thanks Given 
    949
    Thanks Thanks Received 
    138
    Thanked in
    92 Posts
    Tax more, spend more, rinse and repeat.

  25. #18
    It's OVER 5,000! yeezus's Avatar
    Join Date
    Jul 2013
    Posts
    8,108
    Thanks Thanks Given 
    1,501
    Thanks Thanks Received 
    1,720
    Thanked in
    1,122 Posts
    Quote Originally Posted by sturg33 View Post
    I think MLB should force the Angels to trade us Mike Trout for BJ Upton, because they can afford it and we need the financial help.
    What the...?
    Why would you even use that ridiculous comparison? You don't sound rational.

  26. #19
    Making Atlanta Great Again!
    #MAGA!

    Promises MADE, Promises KEPT!
    The Chosen One's Avatar
    Join Date
    Jul 2013
    Location
    School of Hard Cox
    Posts
    25,337
    Thanks Thanks Given 
    8,593
    Thanks Thanks Received 
    9,752
    Thanked in
    5,746 Posts
    Quote Originally Posted by sturg33 View Post
    I think MLB should force the Angels to trade us Mike Trout for BJ Upton, because they can afford it and we need the financial help.
    My reaction to reading this, is the same look that Ron Paul is giving in your avatar.
    Forever Fredi


  27. #20
    if my thought dreams could be seen goldfly's Avatar
    Join Date
    Jul 2013
    Posts
    21,084
    Thanks Thanks Given 
    5,365
    Thanks Thanks Received 
    3,337
    Thanked in
    2,262 Posts
    Quote Originally Posted by sturg33 View Post
    I think MLB should force the Angels to trade us Mike Trout for BJ Upton, because they can afford it and we need the financial help.
    HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHA

Similar Threads

  1. Trump Taxes
    By 57Brave in forum LOCKER ROOM TALK
    Replies: 19
    Last Post: 04-18-2017, 02:22 AM
  2. Roads and taxes
    By zitothebrave in forum LOCKER ROOM TALK
    Replies: 11
    Last Post: 04-17-2016, 09:21 AM
  3. Paid To Pray
    By 57Brave in forum LOCKER ROOM TALK
    Replies: 102
    Last Post: 12-15-2015, 09:00 PM
  4. Taxes
    By Tapate50 in forum LOCKER ROOM TALK
    Replies: 2
    Last Post: 02-21-2014, 08:38 PM
  5. CNN gettin paid
    By gilesfan in forum LOCKER ROOM TALK
    Replies: 9
    Last Post: 10-17-2013, 07:01 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •