tag:blogger.com,1999:blog-20692053.post7541250591156012516..comments2023-11-03T06:35:48.003-05:00Comments on Shark and Shepherd: Facts matter: The super rich and middle class do not pay similar federal tax rates.Rick Esenberghttp://www.blogger.com/profile/07280070509167910367noreply@blogger.comBlogger15125tag:blogger.com,1999:blog-20692053.post-35571632342860534852013-05-04T11:15:13.721-05:002013-05-04T11:15:13.721-05:00Heу! I know this іs somewhаt off toρic but I
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So the children who are now growing up obese are 20 to 30 years down the road going to have horrendous problems that weve really not seen before.Irene Mercadohttp://buyphentermine375hq.com/phen375/noreply@blogger.comtag:blogger.com,1999:blog-20692053.post-67758440961619466432011-04-12T08:29:13.841-05:002011-04-12T08:29:13.841-05:00The rich get richer and everyone else gets poorer ...The rich get richer and everyone else gets poorer and sicker.<br /><br />http://helpfixamericafirst.blogspot.com/2011/04/rich-get-richer-and-everyone-else-gets.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-20692053.post-24749030832687511762010-02-22T14:32:54.118-06:002010-02-22T14:32:54.118-06:00A few holes re: super rich taxation. Biggest HOLE ...A few holes re: super rich taxation. Biggest HOLE - Most comment examples use tax tables on income ("exposed" income) Income reduced by normal deductions AND THEN tax advantaged loopholes and writeoffs eg: leased vehicles, Bldg. and equip depreciation, depriciation swaps and more all flowing to an "S" corp. and the owner. THEN tax payer owned "carefully currently write off annnually improved" property/and or equipment leased back to his own corporation and ... on and on. Correctly structured Holding Corp Corporations with 3 or more Sub Corps to buy, sell and (expense W/Off)services sell depreciable assets and take shrinkage to inventory and equipment etc, etc. Then you have the "unexposed" income "3 blind T" investment corporate trusts, realestate trusts, offshore Sub corporations and trusts...The upper middle and surely middle and lower income don't have a clue and can not take these advantages. All in all the super rich pay the lowest income of all classes as a % of their income except for those paying nothing.Mackhttps://www.blogger.com/profile/01974067528470628406noreply@blogger.comtag:blogger.com,1999:blog-20692053.post-39994229201643612122008-11-01T14:37:00.000-05:002008-11-01T14:37:00.000-05:00the super rich also hold onto the wealth. wealthy...the super rich also hold onto the wealth. wealthy people/businesses make $400 to $1 compared to middle class. 20 years ago it was $35 to $1. This means the pay and distribution of money from those with money (businesses and those who own the businesses) is 400 to 1 compared to 35 to 1 twenty years ago. I know I've said that twice but this is the CORE reason so many middle/poor people are in trouble today and why it's so important to have the gov't tax a little easier on those who make less. I make approx $300k a year and if you study economics it's easy to figure out Obama's plan.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20692053.post-61492170889635228402008-10-10T14:35:00.000-05:002008-10-10T14:35:00.000-05:00read this firsthttp://american-platform.com/americ...read this first<BR/><BR/>http://american-platform.com/america/2008/10/10/federal-income-taxes-who-pays-and-how-much/Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20692053.post-69969214476890267272008-10-08T13:30:00.000-05:002008-10-08T13:30:00.000-05:00Prof,I'm glad someone like you is willing to crunc...Prof,<BR/><BR/>I'm glad someone like you is willing to crunch the numbers, and maybe I'm just too much of a half-glass-empty type of guy, but does it really matter? Do you actually think a socialist like Rosen is interested in the least in actual facts on this issue? These are the people who believe that Barry is going to pass a tax cut that includes the 30-40% of Americans who pay no taxes.<BR/><BR/>Serious question.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20692053.post-86485858512665000672008-10-08T11:51:00.000-05:002008-10-08T11:51:00.000-05:00Anon 11:10No, you need to cut spending.JJAnon 11:10<BR/><BR/>No, you need to cut spending.<BR/><BR/>JJAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-20692053.post-8047118776682768182008-10-08T11:10:00.000-05:002008-10-08T11:10:00.000-05:00To actually have growth or even pay back debt, you...To actually have growth or even pay back debt, you would need to do more than just redistribute. Everyone would need to pay more taxes or at least stay the same while the wealthy pay more... wouldn't they?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20692053.post-48816267537709497552008-10-07T21:17:00.000-05:002008-10-07T21:17:00.000-05:00jimspice wrote: Take a look at the top tax rates ...jimspice wrote: <I> Take a look at the top tax rates of the post-WWII rebuilding years and you see rates topping 90% in some of the years representing the greatest economic growth.</I><BR/><BR/>You may well correctly argue that "there have been years of greater progressivity" but citing past top marginal tax rates doesn't do anything to show that in the context of the data cited by Prof. Esenberg. To know that we would need to see the numbers for the top one percent and the top quintile going back through history. The CBO data only goes back to 1979 but it does provide some insight.<BR/><BR/>Here are the averages for '79-86 ('86 being the last year that top marginal tax rates were 50% or more)<BR/><BR/>SHARE OF TOTAL NATIONAL INCOME: <BR/>Top quintile: 47%<BR/>Top 1 percent: 11%<BR/><BR/>SHARE OF TOTAL TAXES PAID:<BR/>Top quintile: 56%<BR/>Top 1 percent: 15%<BR/><BR/>EFFECTIVE TAX RATE:<BR/>Top quintile: 25%<BR/>Top 1 percent: 30%<BR/><BR/>Here are the 2005 stats with the increase from '79-'86 in parenthesis:<BR/><BR/>SHARE OF TOTAL NATIONAL INCOME: <BR/>Top quintile: 55% (+8)<BR/>Top 1 percent: 18% (+7)<BR/><BR/>SHARE OF TOTAL TAXES PAID:<BR/>Top quintile: 69% (+13)<BR/>Top 1 percent: 28% (+13)<BR/><BR/>EFFECTIVE TAX RATE:<BR/>Top quintile: 26% (+1)<BR/>Top 1 percent: 31% (+1)<BR/><BR/>So, since the time of high marginal tax rates the wealthy have increased their share of total income by about 8 percentage points but their share of the total tax burden by 13 percentage. Meanwhile their effective tax rate has remain largely unchanged (actually going up slightly). <BR/><BR/>So does that make the current era more progressive or less progressive than in the past?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20692053.post-13560378395303260852008-10-07T17:28:00.000-05:002008-10-07T17:28:00.000-05:00We be sure not to confuse class envy with tax envy...We be sure not to confuse class envy with tax envy.<BR/><BR/>CEOs and business owners who are in the 95th quartile have done so because the media succeeded at running a company or starting a company. This is does not of course include "old money".<BR/><BR/>In many these people's success in business and management has led to the creation of many new jobs.<BR/><BR/>Of far greater issue than who we get the money from is probably that we need to start spending less of it with every succeeding year we will find ourselves servicing an ever-increasing debt.Publiushttps://www.blogger.com/profile/10227861209203764118noreply@blogger.comtag:blogger.com,1999:blog-20692053.post-74745455881452024952008-10-07T16:59:00.000-05:002008-10-07T16:59:00.000-05:00Yes, one can bemoan the fact that the top 1% of ta...Yes, one can bemoan the fact that the top 1% of taxpayers take home an ever-increasing slice of national income, and, yes, that fact has at least some correlation with the tax system. As suggested above, the top marginal rate during the Eisenhower administration was 91%; the top marginal rate during most of the years of the Reagan administration was 50%. Higher marginal rates send a signal to the corporate boards that allow CEO's to make 500 times the wage of the average worker that such compensation is neither necessary nor appropriate -- that the greed we've seen on Wall Street, and which even your candidate has decried, should be discouraged, as morally wrong. (When top marginal rates were much higher, Fortune 500 CEO's made a much lower multiple of the average worker's wage. Perhaps not completely cause and effect at work there, but there's some correlation.) And now people are complaining that the top marginal rate Obama's proposing, of 38.5%, is too high -- while the same folks, or at least McCain, complain about the greed on Wall Street. <BR/><BR/>Tax policy reflects who we are as a people. Something is wrong with a country where hedge fund managers can rake in incomes of over a billion dollars, much of it taxed at 15% capital gains rates, while millions are without health insurance.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20692053.post-31207548663857089422008-10-07T13:20:00.000-05:002008-10-07T13:20:00.000-05:00...but these numbers are more or less comparable t...<I><B>...but these numbers are more or less comparable to what we have seen over the past thirty years.</B></I><BR/><BR/>But what it not comparable over that time is the <A HREF="http://en.wikipedia.org/wiki/Image:United_States_Income_Distribution_1967-2003.svg" REL="nofollow">disparity in income distribution</A>. If tax rates remain constant, but real income increases more steeply as you climb up the quintiles, the rich take home a larger share of the pie over time.<BR/><BR/><I><B>You can argue that this isn't progressive enough and there have been years of greater progressivity...</B></I><BR/><BR/>I would and there have. Take a look at the <A HREF="http://truthandpolitics.org/top-rates.php" REL="nofollow">top tax rates</A> of the post-WWII rebuilding years and you see rates topping 90% in some of the years representing the greatest economic growth.<BR/><BR/>Spicejimspicehttps://www.blogger.com/profile/16316014985662331998noreply@blogger.comtag:blogger.com,1999:blog-20692053.post-65145978919925825692008-10-07T10:15:00.000-05:002008-10-07T10:15:00.000-05:00Nice clarification of the issue.Nice clarification of the issue.Dad29https://www.blogger.com/profile/08554276286736923821noreply@blogger.com