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Thread: Taxes reach historic low

  1. #61
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    Re: Taxes reach historic low

    This chart comes from an article I started a thread on a few days ago and it seems to be relative to the topic.


    http://www.thefiscaltimes.com/Column...ax-Income.aspx

    The graph is based around the average household income in the US. They get that average by taking the incomes of every household in America and adding them together, then taking that number and dividing it by the total number of households.

    The red line on the graph is the one relative to this discussion. It shows the percentage of the average household income that's used to pay taxes. Right now that looks to be between 17% and 18%, which according to that chart, hasn't been this low since around 1970.

    Since factors like the employment rate and the state of the economy effect that percentage, I decided to add some of my own additions to that graph... Take a look:

    entitlements_received_taxes_paid.jpg
    Last edited by Grim17; 04-20-11 at 12:30 AM.

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    Re: Taxes reach historic low

    Quote Originally Posted by dontworrybehappy View Post
    GPS, this has nothing to do with wanting or not wanting to be poor. This has to do with the gov't forcing you to give up some of your income when you are barely scratching out a living. Obviously you've never lived poor before where 1200 dollars actually mattered. Consider yourself blessed.

    Don't get me wrong, I am part of the Tea party, taxed enough already. I sure in the HELL dont support taxes on anybody, but damn, live life as a truly poor person for a while and you'll see why taxing someone making 12g's a year is doing way more harm than good. Remember, its THEIR money first.
    I donít know what it is like to live poor? Who the **** do you think you are to tell me that? I grew up poor, dropped out of school at 14, lived on the streets and in halfway houses until I could get a real job by lying about my age and have paid the price ever since. Donít talk to me like Iím some silver spoon fed chump who doesnít know what being poor feels like. I have been through hypothermia and near starvation so I do know a thing or two about being poor.

    If you ever need tips on how to stay warm and find food when you have absolutely nothing but the clothes on your back, I can give you a wealth of personal advice from my own experience. If you ever need someone (who is still very poor) to encourage dropouts to go back to school or go get a GED, Iím your guy.

    You see, I speak with some personal authority on the subject because I am currently clawing my way into what I hope will end with a wealthy retirement. I may never get there but Iím a hell of a lot better off now than I was when I decided to stop being a victim.

    "Too often we enjoy the comfort of opinion without the discomfort of thought."
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    Quote Originally Posted by Montecresto View Post
    It would seem that the constitution is just a god damn piece of paper, to be trotted out when expedient.

  3. #63
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    Re: Taxes reach historic low

    Quote Originally Posted by donc View Post
    Well look what I found. In that bastion of socialism no less, SoCal.


    <While Republican lawmakers appear unified against tax increases and many Tea Party activists want existing rates rolled back, statistics consistently show that federal taxes are at a historic low.>


    <For the past two years, a family of four earning the median income has paid less in federal income taxes than at any time since at least 1955, according to the Tax Policy Center. All federal, state and local taxes combined are a lower percentage of per-capita income than at any time since the 1960s, according to the Tax Foundation. The highest income-tax bracket is its lowest since 1992. At 35 percent, it's well below the 50 percent mark of much of the 1980s and the 70 percent bracket of the 1970s.>

    Taxes reach historic low - News - The Orange County Register
    Yes, federal taxes are at historic lows currently.

    No, Orange county is not a bastion of "socialism", but an island of conservatism in an otherwise liberal part of the country.
    But that's just an observation and an aside. It isn't relevant to the main point.

    Here's a history:



    As we all can see, the percentage of GDP collected by the federal government was nearly 21% back in 2000, when coincidentally, the federal budget sort of balanced after the amount sto.. I mean borrowed from SS. Now, it is more like 15%.

    Now, were they to collect that extra 6% of that 14 teradollar GDP, they'd have an extra 840B or so, or roughly half of the current deficit.

    So, the budget could be balanced by an equal measure of spending cuts and tax increases, couldn't it? Once the economy begins to recover, we could actually start paying down that enormous debt.

    But, politics being what they are, they won't.
    "Donald Trump is a phony, a fraud... [he's] playing the American public for suckers." Mitt Romney

  4. #64
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    Re: Taxes reach historic low

    Quote Originally Posted by dontworrybehappy View Post
    Because the wealthiest Americans pay way more in taxes than the ops family example would. And that is who Obama is targeting, the job creators. I can't speak for anyone else, but I've never signed employment papers for anyone worth less than 2 million dollars. That would be those top income earners Obama wants to tax the **** out of.

    Its very misleading to talk about tax rates being low for a bracket that pays very little tax as a whole. So rather than duck the question, why not answer it?
    High income individuals are not job creators.... That is the biggest myth since "the check is in the mail". If you want to give tax breaks to job creators, do so with a job creation tax credit rewarding the behavior after the fact rather than this voodoo economic idea that it happens.

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    Re: Taxes reach historic low

    Quote Originally Posted by upsideguy View Post
    High income individuals are not job creators.... That is the biggest myth since "the check is in the mail". If you want to give tax breaks to job creators, do so with a job creation tax credit rewarding the behavior after the fact rather than this voodoo economic idea that it happens.
    Proof? Link?

    You can’t just say that it is a myth like “check is in the mail” without backing it up. That is a little more than you giving an opinion, that is you stating something as fact and I am going to call you on it.

    I think we already have several job creation tax credits.

    Your “voodoo economics” statement does clear a lot up though. I’ve been to that website too and it didn’t back up the math or explain where it got the numbers it used.

    "Too often we enjoy the comfort of opinion without the discomfort of thought."
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    Quote Originally Posted by Montecresto View Post
    It would seem that the constitution is just a god damn piece of paper, to be trotted out when expedient.

  6. #66
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    Re: Taxes reach historic low

    Quote Originally Posted by upsideguy View Post
    High income individuals are not job creators.... That is the biggest myth since "the check is in the mail". If you want to give tax breaks to job creators, do so with a job creation tax credit rewarding the behavior after the fact rather than this voodoo economic idea that it happens.
    Well then by all means, show us proof that the poor in America are the job creators, because if it's not high income, it must be low income. I know I've never had a job given to me by a poor person. Have you?

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    Re: Taxes reach historic low

    Quote Originally Posted by dontworrybehappy View Post
    Well then by all means, show us proof that the poor in America are the job creators, because if it's not high income, it must be low income. I know I've never had a job given to me by a poor person. Have you?
    The rich do not 'create' jobs. Demand for goods and services creates jobs. Unless there is demand, rich people are not hiring. That's a fact.


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    Re: Taxes reach historic low

    It doesn't help that 1/2 of all Americans pay no federal income taxes at all.

    The rich are already toting the note here, folks. Yet, you want more blood.

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    Re: Taxes reach historic low

    The OP is misleading liberal rhetoric. Historic lows implies to many that in history, the money government collects from people has never been at a lower rate. That's false. Then the graphs that cherry pick the time right as we entered WWI, showing huge tax rates to fund the relatively costly war effort. Liberals think their **** doesn't stink. PPssstt. We can smell it.

    Quote Originally Posted by pbrauer View Post
    Unless there is demand, rich people are not hiring. That's a fact.
    Not true, and misleading. A company seeing low demand can higher marketing staff or a marketing firm to boost demand, for example. They can hire R&D to create a new product and introduce it to the market. Etc.

    Trying to trivialize the role of business in a prosperous capitalistic economy, is absurd.
    Heck, even your state likely woos big business because of the tax revenue and jobs it brings, they probably subsidize them.
    Last edited by Mach; 04-20-11 at 01:21 PM.

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    Re: Taxes reach historic low

    Quote Originally Posted by donc View Post
    The "poor" don't pay taxes, our owners pay taxes, we pay rent to our owners.
    Your owners? WTF are you talking about?
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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