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Who pays for what
aglore
Member Posts: 6,012
WHO PAYS WHAT?
DESTROYING THE MYTH OF THE "DECADE OF GREED."
The left just loves to refer to the Reagan years ad the "Decade of Greed." The implication is that higher income types got away with absolute murder during the '80's when it comes to paying income taxes. Well, let's take a look at some statics from the Internal Revenue Service to see just what the various income levels were paying in income tax in 1981, and what they were paying in 1991.
1983 -- THE BEGINNING OF THE DECADE OF GREED -- THE YEAR THE REAGAN TAX BREAKS TOOK EFFECT.
Here we find the top 1% of all income earners in the United States paying a total of 20.3% of all of the personal income taxes collected by the IRS. The top 10% were paying 49.7% of all income taxes, and the top 50% was paying 92.8%. The bottom 50% of all income earners were payign only 7.2% of all income taxes.
1993 -- THE DECADE OF GREED ENDS! CLINTON RAISES TAXES TO THE EVIL RICH WILL PAY THEIR FAIR SHARE!
Ten years later, in 1993, we find the top 1% of all income earners paying 28.7% of all income taxes collected! Wow! Those rich SOB's really got away with murder, didn't they? The top 10% saw their share of total income taxes collected go from 49.7% to 58.8%. The greedy so-and-so's. The top 50% saw their share rise to 95.2% of all taxes, while the bottom 50% saw their share drop from 7.2% to 4.8%.
IT'S 1998 --- HOW ARE THE EXPLOITERS OF THE POOR DOING NOW?
The September 23, 1998 issue of The Wall Street Journal has the new numbers for us. The share of the taxes being paid by the top 1% has gone up again! For the year 1998 they are approaching 33%.
YEAH .. BUT THOSE RICH BASTARDS ARE EARNING SO MUCH THEY STILL WEREN'T PAYING THEIR FAIR SHARE
OK, fine. What would you consider a fair share? If the top 10% was earning 70% of all the income but only paying 58% of the taxes, that wouldn't be fair, would it? Well ... let's see what the figures show.
In 1993, at the end of the Decade of Greed, the top 1% were paying 28.7% of all taxes. They earned only 13.8% of all earned income. Oops! sounds like they are paying a bit more than their fair share, doesn't it? What about the top 10%? They were paying 58.5% of the income taxes but earning only 39% of the income. The top 50%? Paying 95.2% of the taxes, earning 85% of the income. The bottom 50%? Earning only 15% of the income but paying just 4.8% of the income taxes.
Update ... In 1996 the share of the income earned by the top 1% reached 16%. Remember: They're paying one third of all the taxes.
So ... who is getting away with not paying their fair share? Looks like the bottom 50% to me ... not the evil, hated, mean, nasty, wicked rich.
These figures came from The Tax Foundation and IRS Statistics, 1983 through 1993. You go and do your own research and verify them! Then tell me just what the hell Bill Clinton was talking about when he said that the rich need to pay "their fair share."
Excuse me ... I have to go throw up.
Courtesy of Neal Boortz
AlleninAlaska
Free men are not equal and equal men are not free
DESTROYING THE MYTH OF THE "DECADE OF GREED."
The left just loves to refer to the Reagan years ad the "Decade of Greed." The implication is that higher income types got away with absolute murder during the '80's when it comes to paying income taxes. Well, let's take a look at some statics from the Internal Revenue Service to see just what the various income levels were paying in income tax in 1981, and what they were paying in 1991.
1983 -- THE BEGINNING OF THE DECADE OF GREED -- THE YEAR THE REAGAN TAX BREAKS TOOK EFFECT.
Here we find the top 1% of all income earners in the United States paying a total of 20.3% of all of the personal income taxes collected by the IRS. The top 10% were paying 49.7% of all income taxes, and the top 50% was paying 92.8%. The bottom 50% of all income earners were payign only 7.2% of all income taxes.
1993 -- THE DECADE OF GREED ENDS! CLINTON RAISES TAXES TO THE EVIL RICH WILL PAY THEIR FAIR SHARE!
Ten years later, in 1993, we find the top 1% of all income earners paying 28.7% of all income taxes collected! Wow! Those rich SOB's really got away with murder, didn't they? The top 10% saw their share of total income taxes collected go from 49.7% to 58.8%. The greedy so-and-so's. The top 50% saw their share rise to 95.2% of all taxes, while the bottom 50% saw their share drop from 7.2% to 4.8%.
IT'S 1998 --- HOW ARE THE EXPLOITERS OF THE POOR DOING NOW?
The September 23, 1998 issue of The Wall Street Journal has the new numbers for us. The share of the taxes being paid by the top 1% has gone up again! For the year 1998 they are approaching 33%.
YEAH .. BUT THOSE RICH BASTARDS ARE EARNING SO MUCH THEY STILL WEREN'T PAYING THEIR FAIR SHARE
OK, fine. What would you consider a fair share? If the top 10% was earning 70% of all the income but only paying 58% of the taxes, that wouldn't be fair, would it? Well ... let's see what the figures show.
In 1993, at the end of the Decade of Greed, the top 1% were paying 28.7% of all taxes. They earned only 13.8% of all earned income. Oops! sounds like they are paying a bit more than their fair share, doesn't it? What about the top 10%? They were paying 58.5% of the income taxes but earning only 39% of the income. The top 50%? Paying 95.2% of the taxes, earning 85% of the income. The bottom 50%? Earning only 15% of the income but paying just 4.8% of the income taxes.
Update ... In 1996 the share of the income earned by the top 1% reached 16%. Remember: They're paying one third of all the taxes.
So ... who is getting away with not paying their fair share? Looks like the bottom 50% to me ... not the evil, hated, mean, nasty, wicked rich.
These figures came from The Tax Foundation and IRS Statistics, 1983 through 1993. You go and do your own research and verify them! Then tell me just what the hell Bill Clinton was talking about when he said that the rich need to pay "their fair share."
Excuse me ... I have to go throw up.
Courtesy of Neal Boortz
AlleninAlaska
Free men are not equal and equal men are not free
Comments
The above just shows how UNFAIR the tax system is. If I get an education and work hard my salary will usually reflect it. Why then should I be forced to pay a higher percentage of my pay in taxes than a lazy guy who doesn't earn squat?
The current tax situation sounds more like the "equality" of equal opportunity employment.
G36
Gun Control Disarms Victims, NOT Criminals
Rugster
When Clinton left office they gave him a 21 gun salute. Its a damn shame they all missed....
Woods
If I knew then, what I know now.
Atlas Shrugged............great book!
Now, let's tackle the myth of lottery money going to schools and roads. They say that in every state. But as economists say, money is fungible, meaning that money can be used for any purpose and traded around. So if $100 arrives from the lottery earmarked "for schools" that just means $100 less has to come out of the general tax fund for schools so they can spend that $100 on something else.
Let's bring it to the personal level. Suppose you are a real "gun nut" (none of those around here!) and you like to keep adding to your collection. Your mother-in-law hates guns but wants to give you a $500 Christmas present that she knows won't go toward guns. So she gets you a $500 gift certificate to Piggly Wiggly Supermarket. What do you do? You take $500 out of your grocery budget for the next year and spend it to buy that new gun you wanted. Simple.