5 ms·

Except that the wealthy don't pay that much taxes in the first place.

eanzenberg 10y ago
http://www.cnbc.com/2015/04/13/top-1-pay-nearly-half-of-federal-income-taxes.html http://www.cnbc.com/2015/04/13/top-1-pay-nearly-half-of-fede...
- themartorana 10y ago
  "The top one percent of income earners, who paid 38 percent of federal income taxes, faced an effective tax rate of 23 percent." [0] "The richest 1% of the world’s population now owns 50% of its total wealth, according to a report by Credit Suisse." [1] I was in the top 5% last year. I paid an effective tax rate of 28% federal, and almost 45% including state/local. Why should I give one flying fuck if the people that control 50% of the world's wealth pay a majority of taxes, if they pay a lower effective tax rate than I do? This idea that the 1% pay more than their fair share because they pay a majority of taxes is some ridiculous double-speak. One single percent of people control 50% of the world's wealth. You want me to feel bad for them how? [0] http://www.economics21.org/html/rich-pay-more-their-fair-share-taxes-1205.html http://www.economics21.org/html/rich-pay-more-their-fair-sha... [1] http://fortune.com/2015/10/14/1-percent-global-wealth-credit-suisse http://fortune.com/2015/10/14/1-percent-global-wealth-credit...
  - danjayh 10y ago
    Friend, you are more than likely in the top 1% of the world population. That only takes about $32k/year[0]. [0] http://www.investopedia.com/articles/personal-finance/050615/are-you-top-one-percent-world.asp http://www.investopedia.com/articles/personal-finance/050615...
    - themartorana 10y ago
      You're right. I am. And the stats above were US focused. (The 50% of wealth stat holds[0]). The point, though, was GP's sole contribution was a link pointing to an article that the top 1% pay nearly half of federal income taxes (actually 45.7%) as a counter-point to its parent claiming the rich don't pay their fair share. Well, 23% federal is not their fair share, based on income and wealth accumulation. As to me being in the global 1%, there is no doubt. But like I said, I paid a lot in taxes, and I champion basic income (see any previous comments of mine on the subject). I don't defend high earners as unfairly burdened, and I believe that poverty and lack of healthcare in this world is a political problem, not a money/resource problem, and the fact that so many kids in the US, let alone the world, go hungry at night is a travesty of epic proportions. [0] http://inequality.org/wealth-inequality/ http://inequality.org/wealth-inequality/

http://www.cnbc.com/2015/04/13/top-1-pay-nearly-half-of-federal-income-taxes.html http://www.cnbc.com/2015/04/13/top-1-pay-nearly-half-of-fede...

themartorana 10y ago
"The top one percent of income earners, who paid 38 percent of federal income taxes, faced an effective tax rate of 23 percent." [0] "The richest 1% of the world’s population now owns 50% of its total wealth, according to a report by Credit Suisse." [1] I was in the top 5% last year. I paid an effective tax rate of 28% federal, and almost 45% including state/local. Why should I give one flying fuck if the people that control 50% of the world's wealth pay a majority of taxes, if they pay a lower effective tax rate than I do? This idea that the 1% pay more than their fair share because they pay a majority of taxes is some ridiculous double-speak. One single percent of people control 50% of the world's wealth. You want me to feel bad for them how? [0] http://www.economics21.org/html/rich-pay-more-their-fair-share-taxes-1205.html http://www.economics21.org/html/rich-pay-more-their-fair-sha... [1] http://fortune.com/2015/10/14/1-percent-global-wealth-credit-suisse http://fortune.com/2015/10/14/1-percent-global-wealth-credit...
- danjayh 10y ago
  Friend, you are more than likely in the top 1% of the world population. That only takes about $32k/year[0]. [0] http://www.investopedia.com/articles/personal-finance/050615/are-you-top-one-percent-world.asp http://www.investopedia.com/articles/personal-finance/050615...
  - themartorana 10y ago
    You're right. I am. And the stats above were US focused. (The 50% of wealth stat holds[0]). The point, though, was GP's sole contribution was a link pointing to an article that the top 1% pay nearly half of federal income taxes (actually 45.7%) as a counter-point to its parent claiming the rich don't pay their fair share. Well, 23% federal is not their fair share, based on income and wealth accumulation. As to me being in the global 1%, there is no doubt. But like I said, I paid a lot in taxes, and I champion basic income (see any previous comments of mine on the subject). I don't defend high earners as unfairly burdened, and I believe that poverty and lack of healthcare in this world is a political problem, not a money/resource problem, and the fact that so many kids in the US, let alone the world, go hungry at night is a travesty of epic proportions. [0] http://inequality.org/wealth-inequality/ http://inequality.org/wealth-inequality/