What Obama means by tax the wealthy
Find a Conversation
What Obama means by tax the wealthy
| Sat, 06-28-2008 - 11:14am |
What Obama means by tax the wealthy
Here's a closer look at how the Democratic candidate defines well-off for different households, and what his proposals will mean for them.
Here's a closer look at how the Democratic candidate defines well-off for different households, and what his proposals will mean for them.
http://money.cnn.com/2008/06/27/news/economy/obama_wealthy_taxes/index.htm?postversion=2008062809


Pages
Then TOS me. I didn't belittle anyone. If that's how you took it...that's your deal.
I agree...hard to know how to take tone online sometimes.
Please correct me if I'm wrong here...but the US still operates as a capitalistic system, right?
I mean, I've never known a poor man to
For those asking for the breakdown.
US breakdown of taxes ( In actuality it is less than 10% paid by the bottom 50%)
There are about 117 million taxpayers in the United States. The Treasury Department in 2006 reported, based on Internal Revenue Service (IRS) data, the share of federal income taxes paid by taxpayers of various income levels. The data shows the progressive tax structure of the U.S. federal income tax system on individuals that reduces the tax incidence of people with smaller incomes, as they shift the incidence disproportionately to those with higher incomes - the top 0.1% of taxpayers by income pay 17.4% of federal income taxes (earning 9.1% of the income), the top 1% with gross income of $328,049 or more pay 36.9% (earning 19%), the top 5% with gross income of $137,056 or more pay 57.1% (earning 33.4%), and the bottom 50% with gross income of $30,122 or less pay 3.3% (earning 13.4%). If the federal taxation rate is compared with the wealth distribution rate, the net wealth (not only income but also including real estate, cars, house, stocks, etc) distribution of the United States does almost coincide with the share of income tax - the top 1% pay 36.9% of federal tax (wealth 32.7%), the top 5% pay 57.1% (wealth 57.2%), top 10% pay 68% (wealth 69.8%), and the bottom 50% pay 3.3% (wealth 2.8%).
Maybe you should research the HIGHEST percentage of the wealth in the United States they possess,NO? This is as opposed to the less wealthy, poor and middle class. basically, the middle class pay quite a bit of taxes to help the poor and to coddle to the wealthy. But I'm betting that the Wealthy own at least 70% if not more in all the wealth in the USA.
Keep on stating that the Rich man gives people jobs, yes, this is true, but it's the reality of life, if they weren't PAYING someone to do it, then who would do it? What if everybody was very wealthy, who would do the work for THEM then?
Sure the wealthy work long hours at times, but a lot of it is spent in air conditioned offices or board rooms having meetings, traveling and using expense accounts which is of course "write offs" so is they travel, so are their meals. Who do you think pays for our Goverenment officials when they take "friends" and lobbyists on junkets and takes them out to lavish meals? WE DO!, All of us that's who. So stop complaining about taxes gone to help our less fortunate Americans,and start complaining about all the government WASTE on themselves, and all the billions of dollars spent in Iraq, dropping skids of hundred dollar bills. Paying these people not to attack
>>>Keep on stating that the Rich man gives people jobs, yes, this is true, but it's the reality of life, if they weren't PAYING someone to do it, then who would do it? What if everybody was very wealthy, who would do the work for THEM then?<<<
This makes no sense...truly. Do you honestly think anyone would just do the work for free? I'm guessing you wouldn't...because that would be slavery and we know that's a bad thing. The wealthy create jobs....and people need jobs. It's a pretty simple concept.
>>>Anytime someone suggests that a conservative should read a book on how corrupt our self serving government is they are told it's propaganda, well,
So let me ask you a question. How do you feel about the possibility of Universal Healthcare in America?
Tell you one thing I don't care for about Universal Healthcare.. any illegal person that has a child here
Pages