Who's really paying tax in this country???

[digimon7068]

According to statistics released yesterday by the Department of Treasury, during 2008 and 2009 (the Department is a little behind the times...it's the goverment ), the upper one-fifth of US households paid 67.9% percent of the total federal taxes, the lower one-fifth paid 0.3% of the total federal taxes and the one-fifth in the middle paid 9.4% of the total federal taxes.

Further, during the economic downturn, the top 1% of households suffered the greatest losses in income (a 36% decrease), over the period from 2007 through 2009.

Finally, the overall average effective federal tax rates of 18% in 2008 and 17.4% in 2009 were the lowest during the 30-year period from 1979 through 2009.

Sometimes fact is stranger than fiction, yes??

 

[simply dave]

...Further, during the economic downturn, the top 1% of households suffered the greatest losses in income (a 36% decrease), over the period from 2007 through 2009.

What is not stated is that said 1%'ers feel the loss less than low to middle incomes. When one is earning 1.5 million/year, does one feel a 36% loss of income vs a household earning 40K/year that loses only 20%. The answer is obvious. The top household might have to vacation in the Florida Keys instead of the Cayman Islands whereas the middle/low household might have to carpool because it's either gas money or food on the table.

It's a matter of perspective. Oh...and I'm going to trust everything the gov't throws out to me as gospel...especially when coming from a department headed up by Geithner ( a former Wall Streeter himself...such an incestuous relationship the corporate/govt machine.).

 

[digimon7068]

What is not stated is that said 1%'ers feel the loss less than low to middle incomes. When one is earning 1.5 million/year, does one feel a 36% loss of income vs a household earning 40K/year that loses only 20%. The answer is obvious. The top household might have to vacation in the Florida Keys instead of the Cayman Islands whereas the middle/low household might have to carpool because it's either gas money or food on the table.

It's a matter of perspective. Oh...and I'm going to trust everything the gov't throws out to me as gospel...especially when coming from a department headed up by Geithner ( a former Wall Streeter himself...such an incestuous relationship the corporate/govt machine.).

it's just government stats...they tend to leave the emotion out of it...and from my chair, those statistics are a fairly accurate depiction of the current state of affairs...and from a "pain" perspective, everything is relative, economies of scale, you dig??

oh and, the fact that the published statistics seem to fly in the face of what the current administration would like you to believe, makes me feel a little more warm and fuzzy about the probable validity.

 

[digimon7068]

oh yeah...welcome back, dave. don't take me or anyone else around here too seriously...we don't take ourselves seriously...no one else should either...and, if you choose to do so?? you do so at your own peril.

most of us come here to blow off some steam, bust some balls and make fun of the french...there are some real smart and real serious people around here but pretty much all of them check that shit at the door...this is a chat board on a steroid website...this is the island of misfit toys.

 

[digimon7068]

oh and, i get my news from npr, john stewart, stephen colbert (the only frog that gets a pass), mike & mike, howard stern, and the myriad of tax, economic, financial and valuation periodicals that i read on a daily basis...you asked.

 

[simply dave]

Thanks...Been in Portland preparing my mother's house for her return after her amputation and rehab. Had to clear out a lot of "trip hazards" (she lost a leg), install new lighting, grab bars in the showers...a lot of stuff.

 

[digimon7068]

Thanks...Been in Portland preparing my mother's house for her return after her amputation and rehab. Had to clear out a lot of "trip hazards" (she lost a leg), install new lighting, grab bars in the showers...a lot of stuff.

see...now that's ^^^^ some serious shit right there...but, this place?? knot serious.

 

[billfred]

According to statistics released yesterday by the Department of Treasury, during 2008 and 2009 (the Department is a little behind the times...it's the goverment ), the upper one-fifth of US households paid 67.9% percent of the total federal taxes, the lower one-fifth paid 0.3% of the total federal taxes and the one-fifth in the middle paid 9.4% of the total federal taxes.

Further, during the economic downturn, the top 1% of households suffered the greatest losses in income (a 36% decrease), over the period from 2007 through 2009.

Finally, the overall average effective federal tax rates of 18% in 2008 and 17.4% in 2009 were the lowest during the 30-year period from 1979 through 2009.

Sometimes fact is stranger than fiction, yes??

LIES. Rich people should pay MAOR.

 

[billfred]

BTW - what does a CPA know about who is paying taxes. You are completely full of shit.

 

[digimon7068]

LIES. Rich people should pay MAOR.

num6ers don't lie