Discussion in 'Politics & Religion' started by stoic, Apr 11, 2012.
The top 1% pay more then 30%
1. The Top 1 Percent Of Americans Owns 40 Percent Of The Nationâs Wealth: As Nobel Laureate Joseph Stiglitz points out, the richest 1 percent of Americans now own 40 percent of the nationâs wealth. Sociologist William Domhoff illustrates this wealth disparity using 2007 figures where the top 1 percent owned 42 percent of the countryâs financial wealth (total net worth minus the value of oneâs home). How much does the bottom 80 percent own? Only 7 percent:
2. The Top 1 Percent Of Americans Take Home 24 Percent Of National Income: While the richest 1 percent of Americans take home almost a quarter of national income today, in 1976 they took home just 9 percent â meaning their share of the national income pool has nearly tripled in roughly three decades.
3. The Top 1 Percent Of Americans Own Half Of The Countryâs Stocks, Bonds, And Mutual Funds: The Institute for Policy Studies illustrates this massive disparity in financial investment ownership, noting that the bottom 50 percent of Americans own only .5 percent of these investments:
4. The Top 1 Percent Of Americans Have Only 5 Percent Of The Nationâs Personal Debt:
Using 2007 figures, sociologist William Domhoff points out that the top 1 percent have 5 percent of the nationâs personal debt while the bottom 90 percent have 73 percent of total debt:
5. The Top 1 Percent Are Taking In More Of The Nationâs Income Than At Any Other Time Since The 1920s: Not only are the wealthiest 1 percent of Americans taking home a tremendous portion of the national income, but their share of this income is greater than at any other time since the Great Depression, as the Center for Budget and Policy Priorities illustrates in this chart using 2007 data:
Actually they paid close to 37% of all taxes in 2009.
And your point is ...???
thats where the money is. taxes should always come out of excess income over what a person needs to live on. otherwise you are taking subsistence away from people who need it to live which is immoral.
How is "fair share" defined?
so you think a grandma scraping by on 9000 a year should pay the same tax as someone who makes a million a year?
here we go with the fairness bullshit.
Freethinker, FAIR doesn't mean what you or Odumbo want it to mean, it is an unbiased way to describe something. FAIR would be a flat rate that EVERYONE pays. While it has been historically acceptable for the wealthy to pay higher taxes - it isn't FAIR, and it is dishonest to promote it as such.
What is the definition of a progressive tax.
Is progressive taxation where one guy pays 100% of the taxes?
Is progressive taxation where the top 50% pay 100% of the taxes?
Is progressive taxation when the top 1% take home 24% of all income but pay almost 40% of all taxes?
Separate names with a comma.