OT: Unbiased analysis of Obama and McCain tax plans

[surveyor]

$0.00

It’s very possible to pay $0.00 to the IRS using the rules in place now. You don’t have to wait for Congress to do anything. We all have the ability to do this.

[Borat]

I guess it depends on your definition of people. And indirectly taxes on the rich are passed on to the poor. So everyone pays when taxes are raised.

Yes exactly. Just like when you lower taxes on the rich the benefits trickle down to the poor and working classes. Just look at how well the working class and poor have done during the Reagan and Bush Sr./Jr. administrations! They’re getting so much trickling down on them it’s unbelievable. Why the folks in New Orleans got trickled right into FEMA trailers! Clearly what we need are more tax cuts for the rich. Someday I hope to get my own FEMA trailer too — oh happy day!

[Borat]

I guess it depends on your definition of people. And indirectly taxes on the rich are passed on to the poor. So everyone pays when taxes are raised.

Yes exactly. Just like when you lower taxes on the rich the benefits trickle down to the poor and working classes. Just look at how well the working class and poor have done during the Reagan and Bush Sr./Jr. administrations! They’re getting so much trickling down on them it’s unbelievable. Why the folks in New Orleans got trickled right into FEMA trailers! Clearly what we need are more tax cuts for the rich. Someday I hope to get my own FEMA trailer too — oh happy day!

[Borat]

I guess it depends on your definition of people. And indirectly taxes on the rich are passed on to the poor. So everyone pays when taxes are raised.

Yes exactly. Just like when you lower taxes on the rich the benefits trickle down to the poor and working classes. Just look at how well the working class and poor have done during the Reagan and Bush Sr./Jr. administrations! They’re getting so much trickling down on them it’s unbelievable. Why the folks in New Orleans got trickled right into FEMA trailers! Clearly what we need are more tax cuts for the rich. Someday I hope to get my own FEMA trailer too — oh happy day!

[Borat]

I guess it depends on your definition of people. And indirectly taxes on the rich are passed on to the poor. So everyone pays when taxes are raised.

Yes exactly. Just like when you lower taxes on the rich the benefits trickle down to the poor and working classes. Just look at how well the working class and poor have done during the Reagan and Bush Sr./Jr. administrations! They’re getting so much trickling down on them it’s unbelievable. Why the folks in New Orleans got trickled right into FEMA trailers! Clearly what we need are more tax cuts for the rich. Someday I hope to get my own FEMA trailer too — oh happy day!

[Borat]

I guess it depends on your definition of people. And indirectly taxes on the rich are passed on to the poor. So everyone pays when taxes are raised.

Yes exactly. Just like when you lower taxes on the rich the benefits trickle down to the poor and working classes. Just look at how well the working class and poor have done during the Reagan and Bush Sr./Jr. administrations! They’re getting so much trickling down on them it’s unbelievable. Why the folks in New Orleans got trickled right into FEMA trailers! Clearly what we need are more tax cuts for the rich. Someday I hope to get my own FEMA trailer too — oh happy day!

[an]

esmith, you’re right, lower taxes across the board without cutting spending will increase deficits. That’s why we need to cut spending as well. Increase taxes on what you called the rich, I think will get passed down to their employees. They don’t become rich by taking it to the chin w/out fighting back, dodging, or passing on the pain.

I’m all for abolishing IRS and income tax. We just need hike up other taxes, like property tax or sales tax, to cover the cost. This might actually reward saver.

[an]

esmith, you’re right, lower taxes across the board without cutting spending will increase deficits. That’s why we need to cut spending as well. Increase taxes on what you called the rich, I think will get passed down to their employees. They don’t become rich by taking it to the chin w/out fighting back, dodging, or passing on the pain.

I’m all for abolishing IRS and income tax. We just need hike up other taxes, like property tax or sales tax, to cover the cost. This might actually reward saver.

[an]

esmith, you’re right, lower taxes across the board without cutting spending will increase deficits. That’s why we need to cut spending as well. Increase taxes on what you called the rich, I think will get passed down to their employees. They don’t become rich by taking it to the chin w/out fighting back, dodging, or passing on the pain.

I’m all for abolishing IRS and income tax. We just need hike up other taxes, like property tax or sales tax, to cover the cost. This might actually reward saver.

[an]

esmith, you’re right, lower taxes across the board without cutting spending will increase deficits. That’s why we need to cut spending as well. Increase taxes on what you called the rich, I think will get passed down to their employees. They don’t become rich by taking it to the chin w/out fighting back, dodging, or passing on the pain.

I’m all for abolishing IRS and income tax. We just need hike up other taxes, like property tax or sales tax, to cover the cost. This might actually reward saver.

[an]

esmith, you’re right, lower taxes across the board without cutting spending will increase deficits. That’s why we need to cut spending as well. Increase taxes on what you called the rich, I think will get passed down to their employees. They don’t become rich by taking it to the chin w/out fighting back, dodging, or passing on the pain.

I’m all for abolishing IRS and income tax. We just need hike up other taxes, like property tax or sales tax, to cover the cost. This might actually reward saver.

[Aecetia]

Hey Borat:

“Do the Rich and Businesses Pay their Fair Share?
Critics of Bush’s three tax relief plans charge that only the wealthy benefited from the reductions in marginal tax rates. But is this true? And more broadly, do the wealthiest Americans pay their “fair share” of the tax burden?

The evidence shows that all Americans, rich and poor, benefited from President Bush’s tax cuts. The rich saw taxes on their dividends and capital gains reduced (as well as their income taxes), and personal income tax rates were slashed across the board, which encompassed every middle-class taxpayer. Even the poor, who generally do not pay income taxes, were rewarded with a higher Earned Income Tax Credit (EITC) and child tax credits.

Progressivity and the Tax Burden
Our tax system, however, is highly progressive, meaning that as one’s income rises, a higher proportion of that income is taxed. Thus, those in the highest tax brackets contribute more to the overall tax burden even though there are far more people in lower tax brackets.1

According to data from the IRS, the bottom 50 percent of income earners pay approximately 4 percent of income taxes.
The top 25 percent of income earners pay nearly 83 percent of the income tax burden, and the top 10 percent pay 65 percent.
The top 1 percent of income earners pay almost 35 percent of all income taxes.
The top 400 richest Americans paid 1.58 of total income taxes in 2000.
Rising Federal Taxes for the Rich
The empirical evidence shows that the wealthiest citizens are also paying an ever-increasing proportion of all taxes collected by the federal government. Data from the Congressional Budget Office show not only that taxes on the wealthy have risen over time but that the 2001 Bush tax cut barely kept their share of the tax burden from rising further:2

In 1984, after the Reagan tax cut had been fully phased in, the bottom quintile (20 percent) of income earners paid an average federal tax rate (individual, payroll, corporate and excise) of 10.2 percent.
The top quintile of earners paid 24.5 percent and the top 1 percent paid 28.2 percent.
In 2001, after the first Bush tax cut had taken effect, those in the bottom quintile paid average federal income taxes of 5.4 percent, about half of what they did 20 years ago.
Those in the top five percent saw a slight decline in their federal tax rate (28.6 percent, down from 29.7 percent).
The top 1 percent, however, saw their overall federal tax burden increase slightly, from 33 to 33.2 percent.
Despite the accusation that it was the very wealthiest who benefited the most from the 2001 tax cut, their federal tax burden stayed level at best and increased at worst. Progressivity in the tax system rose and the wealthy now pay about six times more than the poor.”

http://taxesandgrowth.ncpa.org/news/do-the-rich-and-businesses-pay-their-fair-share

[Aecetia]

Hey Borat:

“Do the Rich and Businesses Pay their Fair Share?
Critics of Bush’s three tax relief plans charge that only the wealthy benefited from the reductions in marginal tax rates. But is this true? And more broadly, do the wealthiest Americans pay their “fair share” of the tax burden?

The evidence shows that all Americans, rich and poor, benefited from President Bush’s tax cuts. The rich saw taxes on their dividends and capital gains reduced (as well as their income taxes), and personal income tax rates were slashed across the board, which encompassed every middle-class taxpayer. Even the poor, who generally do not pay income taxes, were rewarded with a higher Earned Income Tax Credit (EITC) and child tax credits.

Progressivity and the Tax Burden
Our tax system, however, is highly progressive, meaning that as one’s income rises, a higher proportion of that income is taxed. Thus, those in the highest tax brackets contribute more to the overall tax burden even though there are far more people in lower tax brackets.1

According to data from the IRS, the bottom 50 percent of income earners pay approximately 4 percent of income taxes.
The top 25 percent of income earners pay nearly 83 percent of the income tax burden, and the top 10 percent pay 65 percent.
The top 1 percent of income earners pay almost 35 percent of all income taxes.
The top 400 richest Americans paid 1.58 of total income taxes in 2000.
Rising Federal Taxes for the Rich
The empirical evidence shows that the wealthiest citizens are also paying an ever-increasing proportion of all taxes collected by the federal government. Data from the Congressional Budget Office show not only that taxes on the wealthy have risen over time but that the 2001 Bush tax cut barely kept their share of the tax burden from rising further:2

In 1984, after the Reagan tax cut had been fully phased in, the bottom quintile (20 percent) of income earners paid an average federal tax rate (individual, payroll, corporate and excise) of 10.2 percent.
The top quintile of earners paid 24.5 percent and the top 1 percent paid 28.2 percent.
In 2001, after the first Bush tax cut had taken effect, those in the bottom quintile paid average federal income taxes of 5.4 percent, about half of what they did 20 years ago.
Those in the top five percent saw a slight decline in their federal tax rate (28.6 percent, down from 29.7 percent).
The top 1 percent, however, saw their overall federal tax burden increase slightly, from 33 to 33.2 percent.
Despite the accusation that it was the very wealthiest who benefited the most from the 2001 tax cut, their federal tax burden stayed level at best and increased at worst. Progressivity in the tax system rose and the wealthy now pay about six times more than the poor.”

http://taxesandgrowth.ncpa.org/news/do-the-rich-and-businesses-pay-their-fair-share

[Aecetia]

Hey Borat:

“Do the Rich and Businesses Pay their Fair Share?
Critics of Bush’s three tax relief plans charge that only the wealthy benefited from the reductions in marginal tax rates. But is this true? And more broadly, do the wealthiest Americans pay their “fair share” of the tax burden?

The evidence shows that all Americans, rich and poor, benefited from President Bush’s tax cuts. The rich saw taxes on their dividends and capital gains reduced (as well as their income taxes), and personal income tax rates were slashed across the board, which encompassed every middle-class taxpayer. Even the poor, who generally do not pay income taxes, were rewarded with a higher Earned Income Tax Credit (EITC) and child tax credits.

Progressivity and the Tax Burden
Our tax system, however, is highly progressive, meaning that as one’s income rises, a higher proportion of that income is taxed. Thus, those in the highest tax brackets contribute more to the overall tax burden even though there are far more people in lower tax brackets.1

According to data from the IRS, the bottom 50 percent of income earners pay approximately 4 percent of income taxes.
The top 25 percent of income earners pay nearly 83 percent of the income tax burden, and the top 10 percent pay 65 percent.
The top 1 percent of income earners pay almost 35 percent of all income taxes.
The top 400 richest Americans paid 1.58 of total income taxes in 2000.
Rising Federal Taxes for the Rich
The empirical evidence shows that the wealthiest citizens are also paying an ever-increasing proportion of all taxes collected by the federal government. Data from the Congressional Budget Office show not only that taxes on the wealthy have risen over time but that the 2001 Bush tax cut barely kept their share of the tax burden from rising further:2

In 1984, after the Reagan tax cut had been fully phased in, the bottom quintile (20 percent) of income earners paid an average federal tax rate (individual, payroll, corporate and excise) of 10.2 percent.
The top quintile of earners paid 24.5 percent and the top 1 percent paid 28.2 percent.
In 2001, after the first Bush tax cut had taken effect, those in the bottom quintile paid average federal income taxes of 5.4 percent, about half of what they did 20 years ago.
Those in the top five percent saw a slight decline in their federal tax rate (28.6 percent, down from 29.7 percent).
The top 1 percent, however, saw their overall federal tax burden increase slightly, from 33 to 33.2 percent.
Despite the accusation that it was the very wealthiest who benefited the most from the 2001 tax cut, their federal tax burden stayed level at best and increased at worst. Progressivity in the tax system rose and the wealthy now pay about six times more than the poor.”

http://taxesandgrowth.ncpa.org/news/do-the-rich-and-businesses-pay-their-fair-share

[Aecetia]

Hey Borat:

“Do the Rich and Businesses Pay their Fair Share?
Critics of Bush’s three tax relief plans charge that only the wealthy benefited from the reductions in marginal tax rates. But is this true? And more broadly, do the wealthiest Americans pay their “fair share” of the tax burden?

The evidence shows that all Americans, rich and poor, benefited from President Bush’s tax cuts. The rich saw taxes on their dividends and capital gains reduced (as well as their income taxes), and personal income tax rates were slashed across the board, which encompassed every middle-class taxpayer. Even the poor, who generally do not pay income taxes, were rewarded with a higher Earned Income Tax Credit (EITC) and child tax credits.

Progressivity and the Tax Burden
Our tax system, however, is highly progressive, meaning that as one’s income rises, a higher proportion of that income is taxed. Thus, those in the highest tax brackets contribute more to the overall tax burden even though there are far more people in lower tax brackets.1

According to data from the IRS, the bottom 50 percent of income earners pay approximately 4 percent of income taxes.
The top 25 percent of income earners pay nearly 83 percent of the income tax burden, and the top 10 percent pay 65 percent.
The top 1 percent of income earners pay almost 35 percent of all income taxes.
The top 400 richest Americans paid 1.58 of total income taxes in 2000.
Rising Federal Taxes for the Rich
The empirical evidence shows that the wealthiest citizens are also paying an ever-increasing proportion of all taxes collected by the federal government. Data from the Congressional Budget Office show not only that taxes on the wealthy have risen over time but that the 2001 Bush tax cut barely kept their share of the tax burden from rising further:2

In 1984, after the Reagan tax cut had been fully phased in, the bottom quintile (20 percent) of income earners paid an average federal tax rate (individual, payroll, corporate and excise) of 10.2 percent.
The top quintile of earners paid 24.5 percent and the top 1 percent paid 28.2 percent.
In 2001, after the first Bush tax cut had taken effect, those in the bottom quintile paid average federal income taxes of 5.4 percent, about half of what they did 20 years ago.
Those in the top five percent saw a slight decline in their federal tax rate (28.6 percent, down from 29.7 percent).
The top 1 percent, however, saw their overall federal tax burden increase slightly, from 33 to 33.2 percent.
Despite the accusation that it was the very wealthiest who benefited the most from the 2001 tax cut, their federal tax burden stayed level at best and increased at worst. Progressivity in the tax system rose and the wealthy now pay about six times more than the poor.”

http://taxesandgrowth.ncpa.org/news/do-the-rich-and-businesses-pay-their-fair-share

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