Top 1% pays 40% of income taxes.

[guvnah]

I accept your concession.

You accept much that is fiction, so I’m not surprised.

 

[EatTheRich]

What bullshit. Almost half the country pays zero income tax.

And a lot of those people are children. Adults who pay no income tax spend a much greater proportion of their income on sales taxes, since they are taxed on every dollar they have, as opposed to those who save or invest and are not taxed on the money they save/invest.

 

[Nostra]

And a lot of those people are children. Adults who pay no income tax spend a much greater proportion of their income on sales taxes, since they are taxed on every dollar they have, as opposed to those who save or invest and are not taxed on the money they save/invest.

Nope.

Almost half of wage earners pay no income tax.

 

[PhilFish]

And a lot of those people are children. Adults who pay no income tax spend a much greater proportion of their income on sales taxes, since they are taxed on every dollar they have, as opposed to those who save or invest and are not taxed on the money they save/invest.

They were already taxed on the money they saved. Taxed on the gains

 

[guvnah]

A simple illustration for the mathematically challenged:

Let’s say a working class laborer earns $40K/yr and uses 100 gallons of gasoline per month commuting to and from work. The federal exise tax on gasoline is approximately $0.18/gal.

This guy’s effective gasoline tax rate as a percent of his income is 0.54%

On the other hand, let’s say a wealthy 1%er earns $2,000,000 per year and uses 1,000 gallons of gasoline per month. Even consuming 10 times the amount of gasoline as the first guy, his effective tax rate is still drastically lower at 0.11%.

 

[EatTheRich]

They were already taxed on the money they saved. Taxed on the gains

Just as wage earners pay payroll taxes (more than income taxes for 80% of the country), and also pay sales taxes when they spend what’s left of their earnings.

 

[Nostra]

A simple illustration for the mathematically challenged:

Let’s say a working class laborer earns $40K/yr and uses 100 gallons of gasoline per month commuting to and from work. The federal exise tax on gasoline is approximately $0.18/gal.

This guy’s effective gasoline tax rate as a percent of his income is 0.54%

On the other hand, let’s say a wealthy 1%er earns $2,000,000 per year and uses 1,000 gallons of gasoline per month. Even consuming 10 times the amount of gasoline as the first guy, his effective tax rate is still drastically lower at 0.11%.

Rich guys pays 10X the gas tax as the poor guy.

Thanks for the rxampke.

 

[PhilFish]

Just as wage earners pay payroll taxes (more than income taxes for 80% of the country), and also pay sales taxes when they spend what’s left of their earnings.

So does everyone else who works and shops

 

[EatTheRich]

Rich guys pays 10X the gas tax as the poor guy.

Thanks for the rxampke.

While the poor guy pays nearly 5 times as high a tax rate for gas.

 

[UPNYA2]

My proposal: people who get rich through their own efforts (actors, for example) should not be taxed. People who get rich through passively siphoning income from others (such as landlords) should be responsible for maintenance of the system they set up to allow them to do so.

"people who get rich through their own efforts (actors, for example) should not be taxed."

HUH?

Care to name me ONE such person?

One who acquired vast wealth through only their own efforts, acting for example. Who gets paid large sums of money to act without anyone else having anything to do with it? Who pays them? Why?

How does enough people see them acting to know they like them enough they would pay to see them? Someone has to pay to build a studio, buy camera/sound equipment etc., directors, producers, editors, writers, set workers, transportation, permits, meals,all manners of things that are required for people to actually see someone acting, right?

Those people who pay for all the stuff an actor needs to gain wealth acting deserve to earn too, why is what they earn any less valuable than acting?

How is that different than how an employee earns because some business owner pays to build a shop/warehouse, buys various widget manufacturing machines, pays managers, floor supervisors, workers, marketing personnel, flights, hotels, meals, etc.?

It isn't.

"People who get rich through passively siphoning income from others (such as landlords) should be responsible for maintenance of the system they set up to allow them to do so."

What keeps anyone from doing that?

I personally know one landlord who literally lived in his childhood housing apartment until he earned enough money working at, yes, McDonalds, to buy an old mobile home for $1000, put it in a trailer park for $125/month and rented it out for $350/month. (It was years ago mind you.) But later he earned enough to buy himself one. Then others to rent. 20 years later he owned the entire park and was also leasing houses to HUD.

It can be done by anyone willing to sacrifice, do without a while, tune out the critics from both sides complaining, take a risk on losing in order to gain.

Pretty much willing to put down the Cheetos and orange soda, turn off Oprah, unass the Lazy-boy recliner and go out and TRY.

You should give it a go. Who knows, maybe then your mom could be proud of you. It is nice, if you ever got it you might really learn to like it which would be reward enough to most.

 

[EatTheRich]

So does everyone else who works and shops

Actually, rich people’s earnings are exempt from payroll tax.

 

[Nostra]

While the poor guy pays nearly 5 times as high a tax rate for gas.

Both paid the same rate. .11%

 

[PhilFish]

A simple illustration for the mathematically challenged:

Let’s say a working class laborer earns $40K/yr and uses 100 gallons of gasoline per month commuting to and from work. The federal exise tax on gasoline is approximately $0.18/gal.

This guy’s effective gasoline tax rate as a percent of his income is 0.54%

On the other hand, let’s say a wealthy 1%er earns $2,000,000 per year and uses 1,000 gallons of gasoline per month. Even consuming 10 times the amount of gasoline as the first guy, his effective tax rate is still drastically lower at 0.11%.

Rich guy has paid exponentially more in income tax that the 40k earner..who likely received an income tax refund...offsetting the gas taxes all together

 

[EatTheRich]

How does enough people see them acting to know they like them enough they would pay to see them? Someone has to pay to build a studio, buy camera/sound equipment etc., directors, producers, editors, writers, set workers, transportation, permits, meals,all manners of things that are required for people to actually see someone acting, right?

Those people who pay for all the stuff an actor needs to gain wealth acting deserve to earn too, why is what they earn any less valuable than acting?

How is that different than how an employee earns because some business owner pays to build a shop/warehouse, buys various widget manufacturing machines, pays managers, floor supervisors, workers, marketing personnel, flights, hotels, meals, etc.?

It isn't.

That’s my point. Actors have the same relation that other working-class people do to capital, i.e., they are dependent on someone else who produces nothing, but owns the aggregated produce of many, many others’ labor, to be able to earn a living.

"People who get rich through passively siphoning income from others (such as landlords) should be responsible for maintenance of the system they set up to allow them to do so."

What keeps anyone from doing that?

I personally know one landlord who literally lived in his childhood housing apartment until he earned enough money working at, yes, McDonalds, to buy an old mobile home for $1000, put it in a trailer park for $125/month and rented it out for $350/month. (It was years ago mind you.) But later he earned enough to buy himself one. Then others to rent. 20 years later he owned the entire park and was also leasing houses to HUD.

It can be done by anyone willing to sacrifice, do without a while, tune out the critics from both sides complaining, take a risk on losing in order to gain.

Pretty much willing to put down the Cheetos and orange soda, turn off Oprah, unass the Lazy-boy recliner and go out and TRY.

You should give it a go. Who knows, maybe then your mom could be proud of you. It is nice, if you ever got it you might really learn to like it which would be reward enough to most.

The whole system depends on not everyone being able to do it. If there weren’t people who couldn’t afford to buy housing, it would be impossible to be a landlord.

Anyway, just as today it is possible for some hard-working individuals, with a bit of luck, to enter the capitalist class by work and thrift, so once it was possible for some hard-working individuals, with a bit of luck, to work their way out of slavery and become slaveowners themselves. That doesn’t make slavery (or capitalism) any less exploitative.

 

[EatTheRich]

Rich guy has paid exponentially more in income tax that the 40k earner..who likely received an income tax refund...offsetting the gas taxes all together

Receiving an income tax refund=making a forced interest-free loan to the government.

 

[guvnah]

While the poor guy pays nearly 5 times as high a tax rate for gas.

I don’t believe it could’ve been laid out any more clearly and yet he still feigns stupidity.

At least I hope it’s feigned.

 

[PhilFish]

Actually, rich people’s earnings are exempt from payroll tax.

Yes. After a point.

 

[guvnah]

Bith paid the same rate. .11%

Math skills, get some.

 

[guvnah]

Rich guy has paid exponentially more in income tax that the 40k earner..who likely received an income tax refund...offsetting the gas taxes all together

Not necessarily.

 

[PhilFish]

Receiving an income tax refund=making a forced interest-free loan to the government.

How. You got it back.