bart
Decader
- Joined
- Nov 26, 2001
- Posts
- 861
Here are the latest figures released by the IRS. The top 5 out of 100 wage earners are paying more than 50% of the bills the federal government rings up.
What is really interesting is that the less productive among us, get what amounts to a free ride on the backs of those who make more than $28,528 per year. Basically, 1 out of 2 Americans pay a pittance of their fair share.
Percentile AGI Threshold %age of Federal Income Tax Paid
Top 1% $292,913 33.89%
Top 5% $127,904 53.25%
Top 10% $92,754 64.89%
Top 25% $56,085 82.90%
Top 50% $28,528 96.03%
Bottom 50% <$28,528 3.97%
Note: AGI is Adjusted Gross Income
Source: Internal Revenue Service
Before the Socialists raise hell, lets say there was a house with ten tenants, and you made the most money, so you would pay $650 a month for rent. The next two guys would pay about $90 apiece, the next two about $65, and the other 5 would pay $8 each. Since you believe in our progressive tax system, I am sure you would be honored to pay "your fair share" for your less fortunate roommates. By the way, if you didn't, the property manager would garnish your wages, sieze your property and put you in jail.
Then think about what incentives your roommates would have to earn more... All they would do is end up having to pay more for rent and keep a smaller and smaller percentage of their marginal earnings for themselves.
This says to me National Sales Tax now. Give the power back to the people to decide how much taxes to pay and put restrictions on how much money government can spend.
What is really interesting is that the less productive among us, get what amounts to a free ride on the backs of those who make more than $28,528 per year. Basically, 1 out of 2 Americans pay a pittance of their fair share.
Percentile AGI Threshold %age of Federal Income Tax Paid
Top 1% $292,913 33.89%
Top 5% $127,904 53.25%
Top 10% $92,754 64.89%
Top 25% $56,085 82.90%
Top 50% $28,528 96.03%
Bottom 50% <$28,528 3.97%
Note: AGI is Adjusted Gross Income
Source: Internal Revenue Service
Before the Socialists raise hell, lets say there was a house with ten tenants, and you made the most money, so you would pay $650 a month for rent. The next two guys would pay about $90 apiece, the next two about $65, and the other 5 would pay $8 each. Since you believe in our progressive tax system, I am sure you would be honored to pay "your fair share" for your less fortunate roommates. By the way, if you didn't, the property manager would garnish your wages, sieze your property and put you in jail.
Then think about what incentives your roommates would have to earn more... All they would do is end up having to pay more for rent and keep a smaller and smaller percentage of their marginal earnings for themselves.
This says to me National Sales Tax now. Give the power back to the people to decide how much taxes to pay and put restrictions on how much money government can spend.