The Rich are Under Taxed?

[houndawg]

...
If there is a Hall of Fame for missing the point you're a first-ballot shoe-in.


You see, neigher, I am rich and successful. The percentage of the planet's population that wouldn't trade places with me in a heartbeat is vanishingly small.

You may call borrowing from China to bomb Afghanistan a "meaningful alternative" but I don't.

Now, cowboy up and offer a meaningful alternative somewhere between isolationaism and imperialism, or an argument for isolationism, or offer your own alternative paradigm.

1 Get out of Iraq

2 Get out of Afghanistan

3 Apollo style crash program for alternative energy research, featuring US universities and NASA.

Getting out of the mideast is not isolationism, nasal.

[CitadelGrad]

1 Get out of Iraq

Shouldn't have been there in the first place.

2 Get out of Afghanistan

Who fills the vacuum?

3 Apollo style crash program for alternative energy research, featuring US universities and NASA.

That ain't exactly NASA's mission. I think a lot of universities are already conducting alternative energy research. What exactly do you mean by "Apollo style crash program"? Oh, you mean when you throw boatloads of money at something, it will quickly produce magical results.

[houndawg]

1 Get out of Iraq

Shouldn't have been there in the first place.

2 Get out of Afghanistan

Who fills the vacuum?

3 Apollo style crash program for alternative energy research, featuring US universities and NASA.

That ain't exactly NASA's mission. I think a lot of universities are already conducting alternative energy research. What exactly do you mean by "Apollo style crash program"? Oh, you mean when you throw boatloads of money at something, it will quickly produce magical results.

1) Get out now.

2) Irrelevant. If the Soviet Union couldn't do it and we can't do it, it can't be done.

3) Nonsense. NASA is expert at providing small scale alternative energy for out-of-the-way places. Lots of brainpower there worried about staying employed in this economy.

[CitadelGrad]

You never cease to amaze. You have the simple-mindedness of a 12-year old.

[BDKJMU]

Oh bullshit the "rich" are under taxed.

2007 IRS data:
Top 1% of taxpayers: 22.8% of AGI, paid 40.4% of all Fed income taxes.
Top 5% of taxpayers: 37.44% of AGI, paid 60.63% of Fed Income taxes.
Top 10% of taxpayers: 48.05% of AGI, paid 71.22% of Fed Income taxes.
Top 25% of taxpayers: 68.7% of AGI, paid 86.6% of Fed Income taxes.
Top 50% of taxpayers: 87.74% of AGI, paid 97.11% of Fed Income taxes.
Bottom 50% of taxpayers: 12.26% of AGI, 2.89% of Fed Income taxes.
http://www.taxfoundation.org/news/show/250.html" onclick="window.open(this.href);return false;

Looks like the even after the Bush tax cuts the "rich" are overtaxed.

And when comparing past fed income tax rates to current is almost like apples to oranges. Before medicare there was no medicare payroll tax, when unlike FICA is UNCAPPED. Was 1.45%. For the upper tax brackets under Obamacare it has been doubled to 2.9%.

Also for much of the last century most states didn't have an income tax, which all but I believe 8 states now have.

With the top bracket going to 39.6% in Jan + 2.9% medicare + state income taxes in many states the top tax brackets will be paying over 50%.

And don't forget cap gains are going from 15% to 20%.

And dividends will be going from 15% cap gains rate to 39.6% upper income tax rate.

[BDKJMU]

One more quick point Ursus. Over the last 30 years, productivity in the U.S. has increased and wages have gone down. I realize even the working poor in this country have it better than most of the rest of the world and have shown terrible spending and savings habits. None the less, each generation expects at least the same standard of living as their predecessor's and it's tough to change that particular human behaviour.

According to Census data, real median wages have gone up 1967-2005 (page 11):
http://www.census.gov/prod/2006pubs/p60-231.pdf" onclick="window.open(this.href);return false;

[houndawg]

You never cease to amaze. You have the simple-mindedness of a 12-year old.

You hurt my feelings, clitpad, now I'm going to be an emotional wreck all day.