So, are the rich paying their fair share, yet?

[JMak]

According to the IRS, as of 2007, the top 1 percent of taxpayers paid 40.4 percent of the total income taxes collected by the federal government. This is the highest percentage in modern history. By contrast, the top 1 percent paid 24.8 percent of the income tax burden in 1987, the year following the 1986 tax reform act.

Further, "Remarkably, the share of the tax burden borne by the top 1 percent now exceeds the share paid by the bottom 95 percent of taxpayers combined. In 2007, the bottom 95 percent paid 39.4 percent of the income tax burden. This is down from the 58 percent of the total income tax burden they paid twenty years ago."

So, libs and Dems, are the rich paying their fair share, yet? If not, what would represent a fair share? I've never gotten an answer to this question...

[BSmack]

According to the IRS, as of 2007, the top 1 percent of taxpayers paid 40.4 percent of the total income taxes collected by the federal government. This is the highest percentage in modern history. By contrast, the top 1 percent paid 24.8 percent of the income tax burden in 1987, the year following the 1986 tax reform act.

Further, "Remarkably, the share of the tax burden borne by the top 1 percent now exceeds the share paid by the bottom 95 percent of taxpayers combined. In 2007, the bottom 95 percent paid 39.4 percent of the income tax burden. This is down from the 58 percent of the total income tax burden they paid twenty years ago."

So, libs and Dems, are the rich paying their fair share, yet? If not, what would represent a fair share? I've never gotten an answer to this question...

Way to totally mangle statistics there Corky.

[trev]

Obama answered it. He wants re-distribution of wealth.

[JMak]

Way to totally mangle statistics there Corky.

I didn't, dummy.

Fact...the top 1% now pays a greater share of federal income taxes than the bottom 95%.

I just wanna know if they're paying their fair share...not surprised you come with ... well, nothing at all.

Carry on.

[indyfrisco]

not surprised you come with ... well, nothing at all.

Google doesn't work its magic by itself. Give the man some time.

[BSmack]

[Mikey]

According to the IRS, as of 2007, the top 1 percent of taxpayers paid 40.4 percent of the total income taxes collected by the federal government. This is the highest percentage in modern history. By contrast, the top 1 percent paid 24.8 percent of the income tax burden in 1987, the year following the 1986 tax reform act.

Further, "Remarkably, the share of the tax burden borne by the top 1 percent now exceeds the share paid by the bottom 95 percent of taxpayers combined. In 2007, the bottom 95 percent paid 39.4 percent of the income tax burden. This is down from the 58 percent of the total income tax burden they paid twenty years ago."

So, libs and Dems, are the rich paying their fair share, yet? If not, what would represent a fair share? I've never gotten an answer to this question...

Your statistic means absolutely nothing unless you can provide a parallel comparison of how much wealth is concentrated in the top 1% over the same period of time.

I'll wait for an answer, but not expect one.


Edit...oops, BSmack's chart was a x when I first looked. Still need other years for comparison though.

[LTS TRN 2]

Shut up, weasel, your bratty whining is annoying. Look, in the 1950's American corporations paid about thirty five percent of America's tax base. Now they pay basically zero. Capital flight is the biggest financial crisis this nation has ever faced by far--and most idiots like you aren't even aware of it.

[Terry in Crapchester]

IIRC, the highest marginal tax bracket was 90% during the Eisenhower Administration. Not to mention that the wealthiest 1% are much better off viz. the rest of us than they were when Eisenhower was President. Was Eisenhower a socialist?

[Van]

I'd like to hear Yogi Berra's take on Bsmack's chart.

[Jerkovich]

Look, in the 1950's American corporations paid about thirty five percent of America's tax base. Now they pay basically zero.

Any corporation with over $330,000 in taxable income pays 35%, you fucking moron.

No, corporations so not pay taxes, they pass the of yo the consumer. Can you say hyper inflation? It's coming your way like a out of control locomotive. Moron.

[Moving Sale]

No, corporations so not pay taxes, they pass the of yo the consumer.

Huh?

[Mikey]

I think Kev's in a permanent state of yo.

[Derron]

Capital flight is the biggest financial crisis this nation has ever faced by far--and most idiots like you aren't even aware of it.

You are blowing this capital flight thing way out of context. We see very little in the way of American dollars in our country.

Sincerely,

Mexico and every other Central America nation benefiting from all the illegal immigration to the US.

[Derron]

Look, in the 1950's American corporations paid about thirty five percent of America's tax base. Now they pay basically zero.

Any corporation with over $330,000 in taxable income pays 35%, you fucking moron.

No, corporations so not pay taxes, they pass the of yo the consumer. Can you say hyper inflation? It's coming your way like a out of control locomotive. Moron.

Yeah right...most corporations have a fucking crystal ball to predict taxes and therefore include them as part of their overhead cost structure. I am sure the auditors allow that to happen all the time.

Line Item # 37 - Income taxes on income we have not made nor can we predict. $ 467,000.00

Pass that on and see if we are still competitive.

[Wolfman]

I still cannot understand why people do not realize that corporations do not pay taxes---people do. Corporate taxes simply make those entities into tax collectors for the government and the cost is passed on via higher prices for goods and services to the consumers (people).
So this way those who write tax laws can say to the people (voters)---hey---I'm not raising your taxes. And enough of the people are so ill-informed that they believe it and keep voting for them.
It's enough to make me want to start drinking concentrated beer !

[JMak]

Wealth versus income, moron. Your chart says nothing about the burden of federal income taxes.

Fact...the top 1%, as of the latest data available, now bear more of an income tax burden than the bottom 95% combined.

Question...are the rich paying their fair share of federal income taxes?

You lefties are constantly raking the rich over the coals for failing to pay their fair share...well?

[Diego in Seattle]

You lefties are constantly raking the rich over the coals for failing to pay their fair share...well?

Perhaps you should get a telethon going.

"Can anyone spare a few dollars for this poor billionaire? He's tragically living without a fifth home in Aspen. Perhaps some of you could slice a few bucks from your two jobs or three part-time jobs so that this poor corporate executive can give his daughter Muffy a place to eat her caviar for a few weekends a year. Won't you please help?"