Top 400 taxpayers pay an 18% rate; down from 51% in 1955.

[Cigar]

http://www.toomuchonline.org/art_charts_2011/may16_400.png

America’s super rich, new IRS income data show, partied on right through the depth of the Great Recession. And they shared precious little of their good fortune with Uncle Sam.

In 2008, the IRS revealed last week, 400 Americans reported at least $110 million in income on their federal tax returns. These 400, in a year that ended with millions of Americans out of work and home, averaged $270.5 million each, the second-highest U.S. top 400 average income on record.

The IRS only started reporting top 400 income calculations in 2003, and the agency’s official “top 400” totals just go back to 1992. But older IRS data reports do make top 400 estimates from some earlier years possible. And these earlier figures leave the latest IRS numbers in even starker relief.

In 1955, for instance, America’s top 400 averaged — in 2008 dollars — $13.3 million. In other words, the top 400 in 2008 reported incomes that, after taking inflation into account, amounted to more than 20 times the incomes of America’s top 400 a half-century ago.

But 1955’s top 400 didn’t just make far less than 2008’s top 400. The rich in 1955 paid far more of their income in taxes than today’s rich. In 2008, the new IRS data show, the top 400 paid only 18.1 percent of their total incomes in federal income tax. The top 400 in 1955 paid 51.2 percent of their total incomes in tax.

http://toomuchonline.org/for-top-400-taxpayers-a-near-record-year/

[truthmatters]

but they did it on their own without roads, bridges, ports, trains, airports, police, teachers, employees.

[Common]

Oh stop, the poor dears need another tax cut along with the big corporations and banks who pay nothing most of the time. Like Apple and GE. You do know that only 400 americans own 56% of all the wealth in this country.
We MUST give them another tax cut and abolish social security and medicare. Teaparty agenda.

[truthmatters]

how is it so many Americans can be so stupid

[TheDictator]

God only asked for 10%, but the greedy Democrats want more than they deserve.

[truthmatters]

buliding roads and ports cost money andso does maintaining them.


you can pretend everything is free but its not

[TheDictator]

Oh stop, the poor dears need another tax cut along with the big corporations and banks who pay nothing most of the time. Like Apple and GE. You do know that only 400 americans own 56% of all the wealth in this country.
We MUST give them another tax cut and abolish social security and medicare. Teaparty agenda.

GE ask the Obama Adm. for a special tax cut that no one else got because they gave so much to the Obama Campaign and they got it.

[truthmatters]

Link????

[TheDictator]

http://frontpagemag.com/2013/dgreenfield/how-obama-and-senate-democrats-freed-ge-from-paying-corporate-taxes/


The “fiscal cliff” legislation passed this week included $76 billion in special-interest tax credits for the likes of General Electric, Hollywood and even Captain Morgan. But these subsidies weren’t the fruit of eleventh-hour lobbying conducted on the cliff’s edge — they were crafted back in August in a Senate committee, and they sat dormant until the White House reportedly insisted on them this week.
Where did those GE Tax Breaks come from? They came from Democratic (http://washingtonexaminer.com/tim-carney-baucus-rewards-ex-staffers-with-tax-breaks-for-their-clients/article/2517635?custom_click=rss#.UOr9CKzLD91) Senator Max Baucus. (http://washingtonexaminer.com/tim-carney-baucus-rewards-ex-staffers-with-tax-breaks-for-their-clients/article/2517635?custom_click=rss#.UOr9CKzLD91)

[truthmatters]

http://en.wikipedia.org/wiki/David_Horowitz


hes a right wing clown

[truthmatters]

Go get a respectable link

[Common]

GE ask the Obama Adm. for a special tax cut that no one else got because they gave so much to the Obama Campaign and they got it.

Nope WRONG!!!!!!!!!! GE paid zero federal taxs on almost 15 billion in PROFITS not gross but net profits, in 2010 alone then rewarded the american people for the gift by sending their entire xray division to china and putting more americans out of work.

[Mainecoons]

And half of the rest pay none. So what?

You can't tax your way out of this spending-caused red ink, genius.

[truthmatters]

yes you can.


you can tax all you want.

name the time in history when high taxes killed the economy.

[TheDictator]

http://en.wikipedia.org/wiki/David_Horowitz


hes a right wing clown


The New York Times is a right wing Clown? Because that is where the story came from.


"Last year the New York Times noted that GE had found a way to avoid paying (http://www.nytimes.com/2011/03/25/business/economy/25tax.html?ref=butnobodypaysthat&_r=0) Federal corporate taxes altogether."

[truthmatters]

then post it from there

[TheDictator]

Nope WRONG!!!!!!!!!! GE paid zero federal taxs on almost 15 billion in PROFITS not gross but net profits, in 2010 alone then rewarded the american people for the gift by sending their entire xray division to china and putting more americans out of work.

And they did this by the help of Obama and the Democratic Party.

[TheDictator]

yes you can.


you can tax all you want.

name the time in history when high taxes killed the economy.

Roman Empire, CCCP

[Common]

The saddest part of this entire argument is the true facts. They are that corporations and the 400 richest americans have seen their taxs cut fully from 70% in 1983 till the bush tax cuts made it 35% along with cutting capitol gains taxs and abolishing the inheritance tax. All the tax loopholes are still there in effect and that allows many corporations and the richest americans to pay less than some upper middleclass americans adusted tax percentage.
During the same period the richest americans enjoyed getting Vastly richer while paying less and less down to zero in some cases. The middle class has been decimated, american worker pays stagnated and stripped of pensions and benefits. There are far more poor than there ever were, people that used to work and sustain themselves that have jobs sent to china. Ceo pays have gone up in the 100s of percentages while workers pay has fallen.

Then here comes the teaparty, WE NEED TAX CUTS TO GROW THE ECONONY, STFU you had taxs cut from 70% to 35% and it put millions of americans out of work and the economy has receded.
The teaparty says its SOCIAL SECURITY MEDICARE AND MEDICAIDS fault the country is in debt, STFU its the richest americans and corporatists and bankers that have broken americas back by milking it for all they could and then outsourcing american jobs and creating our greatest threat China at the expense of all other americans.
The teaparty was formed by a group of the richest to assure they get richer at the expense of everyone else. To enable having any power they had to recruit legions of broke and lower economic idiots by making them believe in their very small brains that somehow they are losing their guns and freedom. Its pathetic.

[truthmatters]

And they did this by the help of Obama and the Democratic Party.

yeah becuae the republicans really wanted to raise their taxes but Obama and the dems wouldnt let them huh

[TheDictator]

Nope WRONG!!!!!!!!!! GE paid zero federal taxs on almost 15 billion in PROFITS not gross but net profits, in 2010 alone then rewarded the american people for the gift by sending their entire xray division to china and putting more americans out of work.

How about this:
http://www.rooseveltinstitute.org/in-the-news/obama-picks-jeffrey-immelt-ge-ceo-run-new-jobs-focused-panel-ge-sends-jobs-overseas-pays
Jeffrey R. Immelt, the chairman and chief executive of General Electric Co. tapped by President Barack Obama as his next top outside economic adviser, will be asked to guide the White House as it attempts to jump-start lackluster job creation and spur a muddled recovery.

[TheDictator]

The saddest part of this entire argument is the true facts. They are that corporations and the 400 richest americans have seen their taxs cut fully from 70% in 1983 till the bush tax cuts made it 35% along with cutting capitol gains taxs and abolishing the inheritance tax. All the tax loopholes are still there in effect and that allows many corporations and the richest americans to pay less than some upper middleclass americans adusted tax percentage.
During the same period the richest americans enjoyed getting Vastly richer while paying less and less down to zero in some cases. The middle class has been decimated, american worker pays stagnated and stripped of pensions and benefits. There are far more poor than there ever were, people that used to work and sustain themselves that have jobs sent to china. Ceo pays have gone up in the 100s of percentages while workers pay has fallen.

Then here comes the teaparty, WE NEED TAX CUTS TO GROW THE ECONONY, STFU you had taxs cut from 70% to 35% and it put millions of americans out of work and the economy has receded.
The teaparty says its SOCIAL SECURITY MEDICARE AND MEDICAIDS fault the country is in debt, STFU its the richest americans and corporatists and bankers that have broken americas back by milking it for all they could and then outsourcing american jobs and creating our greatest threat China at the expense of all other americans.
The teaparty was formed by a group of the richest to assure they get richer at the expense of everyone else. To enable having any power they had to recruit legions of broke and lower economic idiots by making them believe in their very small brains that somehow they are losing their guns and freedom. Its pathetic.

And then Obama does this:

http://www.rooseveltinstitute.org/in-the-news/obama-picks-jeffrey-immelt-ge-ceo-run-new-jobs-focused-panel-ge-sends-jobs-overseas-pays

[truthmatters]

Roman Empire, CCCP


what was the tax rate that killed Rome?


what were the funds spent on?

[Peter1469]

Tax cuts over the last 50 years or so in America have increased tax revenue. The idea is that tax cuts stimulate the economy and the tax base grows. So you get more taxes, even though individuals pay less.