Domain: itepnet.org
Stories and comments across the archive that link to itepnet.org.
Comments · 11
-
Re:how about just make the rich pay their fair shaIt is a flat-out lie that the poor do not pay taxes.
The lie comes from focusing on only one tax from one level of government.
This link http://gregmankiw.blogspot.com/2009/02/tax-rates-for-rich-and-poor.html shows the effective federal tax rate:From a recent CBO report http://www.cbo.gov/ftpdocs/98xx/doc9884/12-23-EffectiveTaxRates_Letter.pdf, here are effective tax rates (total taxes divided by total income) for 2005, the most recent year available:
Lowest quintile: 4.3 percent
Second quintile: 9.9 percent
Middle quintile: 14.2 percent
Fourth quintile: 17.4 percent
Percentiles 81-90: 20.3 percent
Percentiles 91-95: 22.4 percent
Percentiles 96-99: 25.7 percent
Percentiles 99.0-99.5: 29.7 percent
Percentiles 99.5-99.9: 31.2 percent
Percentiles 99.9-99.99: 32.1 percent
Top 0.01 Percentile: 31.5 percentFor state and local taxes,http://www.itepnet.org/whopays3.pdf shows that lower income pays a higher tax rate (11%) than higher income (7%).
-
Re:Headline Is So Very Wrong
This from CBO is informative.
http://www.wealthandwant.com/issues/income/income_distribution.html
Here is the analysis by state of the total tax load (it's much higher on the poor than people realize).
http://www.itepnet.org/whopays3.pdf
This is updated as of 2009! More current than the 2006 version I was quoting.
The tax on the lowest quintile is up from 10.3% to 12.2% in only 3 years!
-
Re:It's there to strike a balance
Another poster (GayBliss) provided a link to an analysis of taxation in the states. Check out the results for Washington: http://www.itepnet.org/whopays3.pdf
People making $20,000 or less, at an average of $11,000/year income, pay about 17.3% in various taxes, whereas people making $537,000 or more, with an average income of about 1.7 million/year, pay 2.9% of income. My examples didn't have the exact figures, but this paper does. -
WA has the most regressive tax in the nation
In Washington state currently, people earning less than $20,000 pay 17.3% in taxes. People earning over $537,000 pay just 2.9%
Even with this law, the richest will be paying less as a percentage of income than the poorest in the state.
This study (pdf) gives the numbers.
-
Flat tax will be 45-60% - its a BIG MISTAKE
There is an analysis of the so-called "flat tax" at Citizens for Tax justice (www.ctj.org)
http://www.itepnet.org/sale0904.pdf
The Economic Policy Instuitute (http://www.epinet.org) has also analyzed the consumption tax.
Basically, in order to preserve the current level of government spending, it would need to be 45-60% It would represent a huge tax cut for the rich, since they consume a much smaller percentage of their income. It would shift most of the tax burden to the middle class.
Its a huge mistake..
The Republicans hidden agenda is to decimate the middle class..
See this article:
Hidden Agenda- The convention trumpets compassion, but the real Bush agenda is clear: Use tax policy to starve the government even more.
http://www.prospect.org/web/page.ww?section=root &n ame=ViewWeb&articleId=8449 -
Re:neocon 1, js7a 2We can argue for a long time about the minutae of Sweden's post-crash unemployment numbers and their meaning. However, since the rate of change is so important to you, Neocon (as evidenced by your continued touting of the past six months in the U.S.), then the fact that Sweden went from whatever to 4% in three years should be enough for both of us.
a Swede earns between 25 and 45 percent of the salary of an American
Well, studio appartments in San Jose, CA are running $800-900 and in Pittsburgh, PA they're $600-700, versus Sweden at about $300, so if rents are any guide then purchasing power is at rough parity. Food costs about the same in both places, but no charge for healthcare, education,daycare, etc. in Sweden, so it's a wash.
the top one percent of Americans pay 36% of all income taxes -- and this is the system you describe as `regressive'
First of all, that factoid is misleading when you consider the proportion of income paid in relation to the other tax brackets -- you are ignoring sales and property taxes, for one thing. In relation to all the other countries, it is regressive because the amounts involved are tiny.
it's clear that you're not on the popular side of the upcoming election.
Please keep telling me that because I hope it will make me work harder. As for the correctness of the position, I hope we can discuss that in another part of this thread.
-
Re:The numbers
Do they? I have statistics which say the poor pay most of the taxes while the rich pay far less taxes yet pay more money in taxes (well they have more money so who cares how much money they pay)
http://www.itepnet.org/whopays.htm
-
Re:raise progressive and lower regressive taxes
Try reading Milton Friedman's works.
Friedman is a paid apologist for the oligarch lobby. dlm3 obviously listens to what he says about Keynes but not what he writes about Keynes's theses. If you are already comfortable with Friedman's style, and you want to get closer to reality, I recommend Galbraith.
Explain to me why emergency rooms collapse when the states offer free health care to illegal immigrants
That is not what I said. Countries that provide universal medical care have lower overall health care costs than those countries where otherwise treatable maladies don't receive treatment until they exhibit acute traumatic symptoms resulting in E.R. visits.
Why should we burden ourselves with
... notions of the rest of the world? We're not the world's last remaining superpower for nothing....You have answered your own question. We are the world's last remaining superpower for the hundreds of billions of dollars that we pour into wasteful defense programs while cutting education and health care.
California is the most distressed state in the country because its inane government spends too much and taxes its citizens (with highly progressive taxes
Per capita, the California deficit is above average but not as bad as many places. If you think California has progressive taxation then you haven't been paying attention.
I agree with your dislike of sales taxes, which are regressive.
-
raise progressive and lower regressive taxes
Republicans and Democrats are vying to figure out which tax they ought to raise to solve their problem.
Answer: The progressive taxes. In other words, don't do what California did in the 1990s.
Sweden has twice the taxes of the U.S. as a fraction of GDP, but they are far better when it comes to sustaining human life. Swedish companies like Ericson, Ikea, and Volvo are above average in their peer groups, so don't believe anyone who tells you that progressive taxes are bad for business.
-
Re:That is the sound of inevitability....
When Davis came into office we had the biggest surplus in all of Californian history. At the end of his first term we now have the biggest deficit in our history. Were did all that money go?
Perhaps you remember back in the summer of 2000, when Bush began to approach Gore in national polls, how the stock markets reacted? Working families (80+% of the population) quickly lost around a trillion dollars in retirement and college tuition savings, as insurance companies and institutions lost investment portfolio wealth. Who do you think those losses were passed on to?
9/11 was not even barely the cause. The crash was in the Summer of 2000, when Bush spent enough on ads to poll even with Gore.
Now, three years later, we have the biggest deficit in history, and that's before factoring in the added cost of all the military pensions and healthcare that weren't facing us before the hawks decided that stopping with Afganistan wasn't enough. Every other wartime we've had a tax increase, but Bush seems content to pass the buck to the kids. Of course, if we did get a tax increase it would probably be regressive. But we're not getting a tax increase, we're getting bigger deficits, with the burden squarely on the backs of the working families. Come a year from November, I hope they notice.
-
Rush needs to shape up
timeshifting Rush Limbaugh
Why do you listen to guys that don't keep themselves fit?
Rush has been a paid political propagandist for the oligarch wing of the Republican party. His advocacy of military buildup has caused the largest budget deficit ever, placing his economics firmly against motherhood. His anti-progressive economics have hurt the working poor, and helped few other than the top 1%.
Rush Limbaugh has failed as a human being.