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The Truth about taxes, income, etc.

(43 posts)
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  1. spatny
    Member

    For those inclined to seek the truth - here's some charts on effective tax rates - who pays what rate....

    http://motherjones.com/politics/2011/04/taxes-richest-americans-charts-graph

    Posted Monday Apr 18, 2011 10:30 #

  2. spatny
    Member

    Who's got the bucks?

    http://motherjones.com/politics/2011/02/income-inequality-in-america-chart-graph

    Posted Monday Apr 18, 2011 10:32 #

  3. TS
    Member

    Laughable. Another liberal website that purports to speak the the truth. The liberal version as usual is nowhere near reality. Comrades unite against the Evil Corporations! Thanks for bringing some humor to a dreary Monday.

    Posted Monday Apr 18, 2011 10:44 #

  4. JamesMarsh
    Member

    So?

    Posted Monday Apr 18, 2011 10:46 #

  5. spatny
    Member

    Advertise on MotherJones.com

    Sources

    Share of taxes: Tax Policy Center

    Top 400 taxpayers: IRS (PDF)

    Falling tax rates: Remapping Debate

    Bush tax cuts: Tax Policy Center (PDF)

    Income vs. capital gains: IRS: Income tax rates (PDF); capital gains tax rates

    Effective tax rates: Tax Policy Center

    Source of tax revenues: Senate Joint Committee on Taxation (PDF)

    Etc.

    GE taxes: ProPublica

    Janitor vs. millionaire: Tax.com

    Posted Monday Apr 18, 2011 11:05 #

  6. JamesMarsh
    Member

    Not sure why you call them "Bush" tax cuts. Obama was in power for two years with a Democratic House and Senate. He had ample time to raise taxes. What are his reasons for not doing this?

    Posted Monday Apr 18, 2011 11:18 #

  7. TS
    Member

    Obama does nothing because he hasn't a clue what to do. So it's easier to blame previous administrations. His argument will be that it will take a second term to actually do something. He's starting to make Jimmy Carter look like an effective President.

    Posted Monday Apr 18, 2011 11:43 #

  8. EricSundstrom
    Member

    Then call them the Bush initiated tax cuts. It was a law passed to amend (Reduce) the tax rate.It was set to expire as a law in 2010. Obama did not stand up to the Republicans and signed them in for an additional 2 years. This financial mess we are in is not entirely due to entitlements.Its simple math. You reduce revenue as the Tax cut initiated by Bush does and couple that to increased spending ( fighting two wars for eight plus years) and you get "HEY PRESTO" a huge deficit.Its simple math. Obama, from what I've read, wants to go back to the tax code prior to the Regan rate reductions of the early 80s plus cost cutting ( not the program elimination you essentially get in the Ryan Budget bill) to bring the buget in line.

    Posted Monday Apr 18, 2011 15:50 #

  9. spatny
    Member

    Eric - Here's the People's Budget. I'll also attach a site where you can read a short summary, if you are interested.

    http://grijalva.house.gov/uploads/The%20CPC%20FY2012%20Budget.pdf

    Here's a one page summary - balanced by 2014, surplus by 2021. Lower tax rates for the top then under Reagan - or of course Ike.

    http://cpc.grijalva.house.gov/index.cfm?sectionid=70&sectiontree=5,70

    Posted Monday Apr 18, 2011 17:44 #

  10. chrisrobling
    Member

    ok, here is a question. right now, the top one percent of filers pay 38 percent of the u.s. income tax. the top ten percent pay 70 percent, and the bottom 50 percent pay 2.7 percent. [yes, 11th through 49th percentiles pay... 27 percent.]

    don, what's your nirvana distribution ?

    thanks and best, c

    Posted Monday Apr 18, 2011 21:17 #

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