The Rich are not Paying their Fair Share of Taxes right?
Who is Really Paying Income Tax in the United States?
Here are the facts - DIRECTLY from the Internal Revenue Service:
- The top 1% of income earners earn about 20% of all income but paid 38% of ALL Federal taxes
- The top 1% paid more in Federal Income tax than the bottom 95%!!!
- The top 5% of income earners earned 34.7% of the nation's adjusted gross income but paid about 58.7% of ALL Federal Income tax.
- The top 50% of income earners paid over 97% of ALL Federal Income tax.
- Okay, I will do the math for you: That means the BOTTOM 50% only paid about 3% of ALL Federal Income tax.
Effective tax rates (i.e. with all "write-offs" what is the actual percent of income paid in taxes)
- Top 1% of income earners paid an average effective tax rate of 23.27%
- Top 5% of income earners paid an average effective tax rate of 20.70%
- Top 10% of income earners paid an average effective tax rate of 18.71%
- Top 50% of income earners paid an average effective tax rate of 13.65%
- BOTTOM 50% of income earners paid an average effective tax rate of 2.59%
Or Maybe they Are?
The top 400 tax payers are traced by the IRS and earned and average of $345 million last year but they "only" paid 58.65 million each in tax. That's terrible, the Government should be entitled to take ALL their money!
And on the lower end...
"There are so many breaks that 45 percent of U.S. households will pay no federal income tax for 2010,"
So who is and who is not paying their fair share?
Stories about the "Rich" getting massive tax breaks are designed to piss off the masses because they are too uneducated to understand how our tax system works and think that $58.65 million isn't enough.
The problem isn't that the rich are not paying enough taxes, it's that the Private Bankers who run the system by manipulation the Money Supply (i.e. Central Bank/Federal Reserve) are using the ploy that the rich are not paying enough taxes or getting some kind of break the average guy doesn't get in order to RAISE TAXES ON EVERYONE. After all someone has got to pay for their reckless ways.
The rich are not going to pay more than what they are paying now because they can afford to hire lobbyists to act in their interests. How many people know that former Treasury Secretary Paulson was allowed to cash in his entire stock Portfolio of $700 million and paid ZERO tax on the transaction. He was a Wall Street Investment Banker/Insider. He got off Scott Free because of a special rule made only available to the Executive branch of the Government appointees. It's the whole reason he took the job. And this same Government keeps harping on the rich not paying taxes? Come on... it's a ploy. And yes this happened during the Bush Administration, and under a Democratic Controlled Congress. Neither Republicans nor Democrats are doing what is right for the people.
And how about the people who make under $50,000 a year. Maybe they should pay more taxes? Maybe they should pay some taxes? There are plenty of credits and deductions available to working families as well.
Lets do the math now: 400 Super Rich x $345 Million = is $138 Billion. And they pay a collective tax of $23.5 Billion. That's not enough?
So if the Government steps in and takes ALL the money from the Super Rich it would amount to about 1 month of War Spending in Iraq. That's it. Go ahead and hate the rich for paying Billions in Tax.
The Whole purpose of this Story is to INCITE the uneducated into believing the Rich are not paying enough taxes, when it fact it is the lower income earners that are truly enjoying the benefits of the system.
If you incite the masses then you can pass more easily tax increases (After all we have to get those evil rich people where it counts right $58.65 million simply isn't a hard enough hit).
So people go to the polls and vote in more taxes... and who pays the new taxes? That's right everybody. Nice system... use the media to manipulate stupid people into agreeing to raise their own taxes.
I'm fed up with the Republican Party war mongers who REFUSE to cut anything from the Military and want to cut out Grandma and Grandpa's benefits for which they have worked a life time to accrue. Yes they paid into the system and the Republicans want to take from them now but leave the Military untouched?
I'm fed up with the Democratic Party who wants to raise the Debt Ceiling and also refuses to cut the Military and increasingly supports the same Industrial War Complex. Obama has kept none of his promises, tripled troops in Afghanistan and now has us involved in Libya. Who the hell is going to pay for this mess? The Democratic Party is delusional believing they can continue to spend and borrow.
Neither party is doing anything to fix anything. It's all about their own careers and "winning". And winning means getting re-elected and is exclusive of doing anything that actually helps people. Neither party has the balls to address the currency manipulation done by the Federal Reserve.
Yet there is great opposition to a single payer flat tax that would actually be fair and include everyone at the point of consumption.
Just more propaganda to screw ALL people and allow the Government to continue to Spend freely while the country collapses.
So think about the real agenda when you read the next the rich are not paying enough taxes BS.
Then think about the massive amount of State and Local taxes the rich pay that you do not. If they live in a $2 million dollar house they are likely paying $20,000 a year in property taxes... taxes that pay for the education of kids that are not their own.
If they purchase a $100,000 Mercedes Benz they are paying the same Sales Tax rate as you are with your Honda Civic... except they will pay 5 times as much in actual taxes.
The Rich are not the enemy... the enemy is out of control spending, currency manipulation by the Federal Reserve, Wall Street Investment Banks tied to Commercial Banking... Speculation, etc.
Every "Rich" person doesn't come from the Banking Industry... there are a lot of wealthy people that have actually earned their wealth creating jobs and employing Americans. Yes Wall Street is the De facto example of greed and corruption, but it all ties back to the Federal Reserve.
Until it's gone there will never be any real equity in the system.
The Golden Rule: "Control the Gold, and you rule".
More taxes on the "Rich" is not the answer. The entire tax system and manipulation of the money supply needs to be reworked.
Rich people are not your enemy... the Federal Reserve Central Bank, Wall Street, Speculators, and Politicians are your enemy.