Registered: Jun 2003
Location: Morrison TN
Posts: 4927

What I said was that the bottom 50% of American income earners only paid 4% of the taxes collected by the IRS. So 50% of Americans only pay 4% of the tax bill, they are NOT paying their fair share.

The top 1% of income earners (the rich) paid 40% of the total taxes collected by the IRS. The richest 1% of Americans pays 40% of the tax bill. So, the rich are paying WAY more than their fair share.

Those numbers are where the tax money comes from according to the IRS themselves.

I didn't say your income bracket only paid 4%. There is no 4% income bracket

What I did say was that the 15% bracket was done away with and the lowest bracket now is 10% and they increased the amount of income to put a person into the lowest bracket.

Unless you are making well over 100,000 a year your income tax paid (actually paid, you have to subtract your refund) would be nowhere NEAR 35%.

What you forget is that I am a working man. Worked in the fields from the time I was about 12, then a full time factory worker for 12 years while paying my own way through school and paying for my family to live. I don't make any money now and will work 80 hours a week for 10 bucks an hour the next 5 years to boot.

Sorry my post wasn't clear enough.

__________________
Let's go huntin

Last edited by Rip on 11-21-2005 at 06:10 PM

Report this post to a moderator | IP: Logged

Registered: Jun 2003
Location: The Great State of Tennessee
Posts: 2555

I got cha' now. Those figures I can live with. Of course the top 1% are making millions if not billions. Refund you say? What is a refund? Sorry I'm self employed. I have'nt had a refund in 15 years. I send in quarterly and still have to send in more in April.

I have always said anyone who makes under 50000.00 a year should not have to pay income tax. A person should be able to make a living first.

__________________
Jody Scott
731-780-4407
Frogjump TN
Black Creek Treeing Walkers

If I had feelings, that might would have hurt.

Last edited by Skinner on 11-21-2005 at 03:14 AM

Report this post to a moderator | IP: Logged

Registered: Apr 2006
Location: WHITELAND, IN
Posts: 219

Hey guys.

Check out this website and their idea about Tax.

http://www.fairtax.org/

__________________
Join the Hoosier Tree Dog Alliance
http://www.hoosiertreedogs.org/

Kokomo Creek Kennel

Report this post to a moderator | IP: Logged

Registered: Sep 2003
Location:
Posts: 385

the fair tax or consumption tax is far better than the joke we have now, the regressive-progressive tax structure that breaks the back of middle america, many in the very top use shelters etc.. the top group has wealth and unearned income not labor is what brings in the $$$... wealth has actually been on the decrease for all except the top 1/5 and great for the top 1%, wages are stagnant for most, again the top has seen great increases... pensions-health care, etc. are going where the missing link went, missing, few ride the elevator-most just get the shaft... business tends to pay the least in can in most situations-not the most, profit has no conscience and goes where most can be made, mexico-china-india etc... minimim wage does not come close to the poverty level money needed for basic survival...

Report this post to a moderator | IP: Logged

Registered: Jul 2003
Location: PA
Posts: 2162

The 15% bracket was not done away with at all. It is still there. What actually happened is that a 10% bracket was carved out of the 15% bracket.

For a married couple with a gross income between $31,000 and $75,800, this resulted in a tax savings of $730 for everyone making over $31,000. Rich and poor alike (unless under $31,000) get the same $730 tax break. Sounds fair so far, right?!

But guess what?

Those that made over $75,800 got additional tax savings from rate reductions as a result of reducing tax rates at higher levels of income.

Of couse, so far, I'm only talking about EARNED INCOME (money you work for), and ordinary interest income (from money you've saved).

The real tax breaks came from reductions in the capital gains rate and the dividends rate. The discrepancy in $ savings between the rich and the poor would blow your mind!

The way tax cuts work, at the federal level, is this : In exchange for the Super-Rich getting a lot of premium steak, they will gladly share with the working class (they will give them the bone). See, everybody shares in the tax cut!!!

Last edited by honalieh on 08-06-2006 at 03:45 AM

Report this post to a moderator | IP: Logged

Registered: Apr 2006
Location: WHITELAND, IN
Posts: 219

The more I read on this http://www.fairtax.org/ web site the more I agree with it.

__________________
Join the Hoosier Tree Dog Alliance
http://www.hoosiertreedogs.org/

Kokomo Creek Kennel

Report this post to a moderator | IP: Logged