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Naio posted:

According to the article, 2.4% of the population paid 48.9% of federal income taxes. Does that mean 97.6% of the population aren't pulling their weight?

Presently, a little more than half the country are receiving more than they contribute.  Expect than percentage to grow as lib policies continue to push businesses to other countries.

jtdavis posted:

They earn more, they pay more.

Yep.  Same with you.  Same with me.

But is it fair to pay more than you earn?

Like is it fair to pay for those who are too dam lazy to earn?

[Let me stop you right there.  I said "lazy."]

Or don't report their income because the source is illegal?

So as I understand, this 2% of the population that has the most % of the wealth ALSO pays almost half the taxes. . . right?

So Old Bern is telling a half truth?

Compared to Hillary's out-right lies.

Tough choice for Dems.

Will they nominate a man or a woman.

 

As the percentage rises, the revenue will drop. Partially due to people finding ways to shelter their money. Other reasons include, less money to invest in businesses to allow them to grow and, simply, not putting in the effort to earn above the highest percentages.  When, actors hit the 90 percent bracket in the old days, they simply stopped making films for the rest of the year. Not only were they not working, but the entire staff and support that would work on the film wasn't hired, paid, not revenue from such collected/

The Chicago and Austrian schools of economics argue that when the level of taxation exceeds 25 percent (Austrian) to 30 percent  (Chicago) revenue decreases rather than increases.  I've posted the extreme increases in revenue after the three major tax cuts -- JFK/LBJ, Reagan, and Bush.  Yet, it goes off the lefties backs like water off a duck.  They have no counter argument that's provable with evidence.  Its all ideology vs substance. 

It all goes back to Adam Smith's An Inquiry into the Nature and Causes of the Wealth of Nations.  Its a study of what works and what does in increasing a nation's and its citizens' wealth, not by ideology, but by real world actions.  Whereas, the left from Marx forward is theory.  And, if it doesn't work, the humans are at fault, not the theory.  So, just keep beating and killing people till it works.

In that chart, the top bracket started at $250,000 and multimillions was the top. That's one reason for the big chunk paid by them. It also showed that 25% earned min wage.                                                                                                                       My question is, what happens to the $99,000 bracket and the $101,000 bracket. Is it a huge jump in taxes between 99 thousand and 101 thousand?

jtdavis posted:

In that chart, the top bracket started at $250,000 and multimillions was the top. That's one reason for the big chunk paid by them. It also showed that 25% earned min wage.                                                                                                                       My question is, what happens to the $99,000 bracket and the $101,000 bracket. Is it a huge jump in taxes between 99 thousand and 101 thousand?

I see where jumps a dollar from $99,999 to $100,000 but no $2,000 gap.  But I'm no CPA.

Far as tax brackets go, a google search may find the answer you want.

Regarding most returns filed/lowest percentage of taxes paid, I'd say based on my time spent in the minimum income bracket that represents a lot of refunds.  Other than that, I'd have to see the demographics of the minimum wage earners to draw any conclusions about percentages.  You know, entry level jobs.  Jobs not requiring any special knowledge, skills, or ability.

budsfarm posted:
jtdavis posted:

In that chart, the top bracket started at $250,000 and multimillions was the top. That's one reason for the big chunk paid by them. It also showed that 25% earned min wage.                                                                                                                       My question is, what happens to the $99,000 bracket and the $101,000 bracket. Is it a huge jump in taxes between 99 thousand and 101 thousand?

I see where jumps a dollar from $99,999 to $100,000 but no $2,000 gap.  But I'm no CPA.

Far as tax brackets go, a google search may find the answer you want.

Regarding most returns filed/lowest percentage of taxes paid, I'd say based on my time spent in the minimum income bracket that represents a lot of refunds.  Other than that, I'd have to see the demographics of the minimum wage earners to draw any conclusions about percentages.  You know, entry level jobs.  Jobs not requiring any special knowledge, skills, or ability.

See the Bureau of Labor Statistics at the Department of Labor -- dol.gov

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