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

[sturg33]

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!!!!

[Julio3000]

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 Chosen One]

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.

[50PoundHead]

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.

[sturg33]

LOL... yes. The rich don't pay enough. They should be paying 200% of taxes!!!

[jpx7]

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

Yep.

Glad to see you're coming around.

[sturg33]

Can someone explain to me how taxing rich people higher than non-rich people is NOT discrimination?

[jpx7]

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.

[sturg33]

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

[Julio3000]

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.

[jpx7]

We should tax Jews more than African Americans I guess

Discrimination based on superfluous traits (say, race) is bad

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."

[Metaphysicist]

Can someone explain to me how taxing rich people higher than non-rich people is NOT discrimination?

I could explain it to a rational person, but no, I believe this is something you will never be able to grasp.

[sturg33]

I could explain it to a rational person, but no, I believe this is something you will never be able to grasp.

Funny you should say that... Because nobody can really explain it... And the answer is always "I'm not going to waste my time."

LOL

[Metaphysicist]

Funny you should say that... Because nobody can really explain it... And the answer is always "I'm not going to waste my time."

LOL

No, I'm not going to waste my time, because last time I tried to have a rational conversation with you in one these threads you said "I'll be right back" and then you just ran away. So, it truly is pointless to bother with you. But only you, specifically.

[goldfly]

I could explain it to a rational person, but no, I believe this is something you will never be able to grasp.

no doubt

[Metaphysicist]

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

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.

The CBO report is fine, but the righty site you linked to put a lot of spin on it. This is selectively ignoring 3 of the 4 federal income taxes (payroll, corporate, excise) that the report covers. Additionally, that -9% is NOT a transfer payment, but comes in the form of a personal income tax refund on other taxes paid. I mean, you don't even have to read the report. This chart is on the f'ing cover, showing that the top 40% make 72% of the income and pay 85% of the taxes:



Hardly extreme, ESPECIALLY when you consider this is only including the federal tax burden, not the highly regressive state taxes that everyone is also paying.