Hannity just claimed 62 cents of every dollar he makes goes to taxes!

[brewens]

Yeah right! I'll crap my pants and then eat my shorts if anyone can prove he actually pays that much!

I'm sure he can add up the maximum rates he could pay and that would be 62%. Maybe just on his base salary actually. Total income with all the moves he makes to duck taxes, I'd say maybe 35% tops. Probably a lot less than that .

[irisblue]

1. still not enough

[truebluegreen]

2. I'll bet its closer to 15%

but I'd be happy with 62%...which IIRC is about the average rate for his income level in the 40s/50s.

[Initech]

32. I'm pretty sure that the rates vary from state to state.

But I can pretty much guarantee that they are nowhere near the 62% that Hannity is claiming. I'd love to see the IRS verify that claim.

[Marie Marie]

3. What a crock!

I ditto everything that you wrote - even that first sentence because I know that neither one of us would have to do that.

[pinboy3niner]

4. Typical RW trick of treating their marginal rate as if it's what they actually pay

Sean needs to post his tax return.

[A HERETIC I AM]

18. Either that or Sean needs a new accountant.

What a horses ass.

But still, the top marginal rate is nowhere near 62%, even if he includes his NY State income tax;

http://www.tax-brackets.org/newyorktaxtable

[pinboy3niner]

20. Even if he's counting ALL taxes from ALL levels of government

...hes still able to live a mulltimillionaire's lifestyle. He's still wealthy AFTER taxes, and his complaint is that government won't let him be even wealthier. Because governments expect him to actually contribute to funding all the services that benefit him.

[ProfessorGAC]

21. But, What Marginal Rate Is That High

The top marginal rate isn't even 40%. Then all the payroll deductions add up to around 10%, but one quits paying SSI at around 130k. So, if you make more that percentage falls tremendously fast.

So, now we're up to <50%. That means his state and sales taxes have to add up to around 14%. If he were here in IL, the 4% income tax and 6% sales tax doesn't add to that even if he actually spent every penny of post tax dollars and saved nothing, ever. Especially true since he would be paying that roughly 10% on what's left which is far less than 10% of the whole.

This is a made up number and no amount of scouring tax tables will cover this number.

[onecaliberal]

5. O shannity is a liar

[jberryhill]

6. 100% of it would go to restitution in a sane world.

[world wide wally]

7. Since when would Hannity tell the truth about anything?

Did he ever get his ass and his gun out to Cliven Bundy's place yet?

[SheilaT]

8. I bet he's simply adding up all

of the various tax rates he pays, like whatever his local sales tax is, then the 7% (or whatever it is) for FICA, then his highest marginal state tax and highest marginal federal income tax, and what the tax rate is on gasoline. So what he's doing is total bullshit.

I believe the highest marginal rate at the federal level is 39.6%. And that's a marginal rate which almost no one understands.

Chances are he pays overall a lower tax rate than his office cleaner, since he's going to be getting lots of deductions the hard-working cleaner can't get.

[1939]

34. A little more than that

If his income includes short term capital gains, and he is at max, you have to add the 3+ per cent ACA investment tax on top of the 39.6%. The investment tax applies to all dividends and capital gains to pay for Obama Care and is a little over 3% (forget whether it is 3.2 or 3.6).

[Mariana]

39. Hannity also doesn't pay OASDI on most of his income.

His office cleaner pays it on every cent of wages.

[phylny]

74. Property tax, too. n/t

[winstars]

9. The BEST thing ever is he asked the question that McCarthy responded to about BENGHAZI...

If he doesn't ask that question, a lot of the last two weeks is quite different.

After being such an scumbag all these years, its Hannity that actually helps Hillary...

Sean, karma is a motherfucker!!!

[CentralMass]

10. Wasn't he the douchebag who's injured vets nonprofit was skimming money ?

[ohnoyoudidnt]

11. Fine, let's see him post his tax returns and prove it.

Even if it was true, he still banks millions for doing nothing but talking in front of a camera and writing shit. Are we supposed to feel bad for him?

[gratuitous]

44. Seconded

Let's see your 1040 long form, Mr. Hannity. All schedules and other filings as well. Until you've released copies of your returns for the last, oh let's say 10 years, and the copies are certified as filed by the IRS, your claim is empty gasbaggery. Of course, it is anyway, but now we have ironclad proof.

[lpbk2713]

12. Chump change when you consider his offshore accounts.

Like most in his bracket he probably has multi-millions the feds will never know about.

[Hoyt]

13. Good, the worthless fool needs to pay more for the harm he does.

[jberryhill]

14. Pass a "Hannity Tax"

And levy on all toxic emissions.

We'll trade his show for the VW diesels Ina heartbeat.

[former9thward]

15. I guess you forgot he lives New York City.

Where you have the highest state and local income tax rates in the U.S. You won't eat your shorts because it was an empty anonymous internet post which means nothing.

[A HERETIC I AM]

19. No he doesn't.

He lives in Huntington, on Long Island

http://www.celebritydetective.com/Celebrity_Homes_Sean-Hannitys-house-Huntington-New-York.html

Unless he has indeed sold that place and moved to the city, but a Google search didn't turn up anything definite.

If you have other info, I apologize.

[former9thward]

36. I have no other info but New York taxes are very high.

Which is why many who work in New York live in NJ or Connecticut. I don't know the specific taxes where he lives. I also don't know his calculations. He probably is talking about state, federal and local income taxes, sales taxes, gas tax, phone taxes, food taxes, property taxes, and everything else. It would not surprise me at all if someone who is very wealthy pays that rate overall.

[LanternWaste]

46. Your suppositions and guesses seems much like

Your suppositions and guesses seems much like "an empty anonymous internet post which means nothing".

No doubt, staring into the abyss can do that to the biased.

[MillennialDem]

69. Maybe on their TAXABLE income. But no one's taxable income is the same as their

earned income.

I added up the property tax, sales tax, social security tax for (even though he only pays in on the first $118,500 because of the cap), top marginal state and federal rates, and medicare for Nassau County, NY and I just barely got 62%. And that's of course assuming

a. He owns a $30,000,000 home (he doesn't, more like $3-$4 million AFAIK)

b. He spends all his money on taxable goods/services (including the money he earned that was already taken away via federal/state income taxes)

c. He pays 6.2% on all of his income, above the meager $118,5000 social security cap

d. All his income is ordinary income and none of his income is capital gains

e. He takes no deductions / does not shield his money with tax deferments

So, no, he doesn't pay 62%.

[Kingofalldems]

43. Oops.

Great find.

[itcfish]

26. I Believe Hannity

Lives on Long island, if I remember correctly. No NYC taxes. NYC taxes are very very low BTW

[former9thward]

35. What NYC do you live in?

New York City is one of the few cities in the country that has a separate city income tax. New York City has a separate city income tax in addition to the state income tax for individuals. New York City income tax rates range from 2.907% to 3.648%. It also has a city sales tax: 4.5% in addition to the state sales tax of 4% and the Metropolitan Commuter Transportation District (MCTD) surcharge of 0.375%. This makes the total sales and use tax rate in New York City 8.875%.

[SheilaT]

37. Let's see, now. New York State's highest marginal income tax rate

is a terrifying 8.82%. And for New York City, I get 3.876% as the highest marginal rate.

Perhaps neither the state nor the city allows any kind of credit for other taxes. Some states are like that. But no matter how he slices and dices it, he's not giving up 62% of his income at the very start.

[former9thward]

41. Read carefully.

He said "taxes" -- not just income taxes. He pays sales taxes, property taxes, gas taxes, phone taxes, etc. Id am not his accountant so I have no idea how accurate his statement is but I can certainly see wealthy people paying that much in New York. (Which is why many of them live in NJ or CT.)

[SheilaT]

42. So do all of us.

And people at the lower end of the scale are far more likely to be spending money on things that are taxed. He's still full of crap.

It's a lot like the people screaming about death taxes, saying they shouldn't have to pay anything on inherited money because it's already been taxed. Excuse me? All of the money that circulates and is spent on things is taxed again and again. So to attempt to carve out one special area to be exempt is pure selfishness, since it only benefits the wealthy.

[former9thward]

51. Death taxes destroy family farms and small businesses.

And then the very same people who favor them complain about factory farms and Walmart.

[hifiguy]

53. "Death taxes" is about as RWNJ a meme as there is.

Your slip is showing.

[former9thward]

54. Your love of Walmart is showing.

And its not even a slip...

[SheilaT]

55. You do know that no one has ever been able to

find a case where an actual family farm or small business was destroyed by inheritance taxes. You do know that, don't you?

The RW loves to claim that farmers routinely go out of business when the owner dies, but it just doesn't happen.

[former9thward]

58. No I don't know that.

Because it is not true.

[SheilaT]

62. Then tell us about all the family farms

and small business destroyed by inheritance taxes.

[hfojvt]

83. maybe or maybe not

the rich DO pay more in sales taxes than the poor

but not as a percentage of income.

And paying sales taxes is a CHOICE at the high end. If I am rich and I pay sales taxes because I just bought my sixth pair of fancy $200 shoes this year or because if I just bought a brand new car - then much of the taxes are coming because of my choices.

If, however, I am poor and am buying groceries, and in Kansas paying taxes on those groceries (although I kinda LIKE the way Kansas did it - with a food sales tax rebate for some of the poor)

But the rich person is gonna say "I just bought a new Lexus and look how much I paid in taxes"

[hfojvt]

59. just for fun

I looked up "who pays" for the state of New York

According to their calculations, which include all state and local taxes, the richest 1% pay 8.1% of their income in taxes, after the federal offset (they get to deduct state taxes on their federal tax return). Edit: forgot my link for ITEP http://www.itep.org/whopays/states/new_york.php

Let's figure NYC is higher than the average because of city taxes and maybe Hannity owns a LOT of property - if he owns six houses or something then he may pay a whole bunch of property taxes (the poor baby).

So add 4% for NYC and another 10% for a fudge factor. We are now at 22%.

Now just go to the ultimate internet source for tax information http://journals.democraticunderground.com/hfojvt/169

In 2008, the top 0.1% paid 22.7% in federal income taxes (on average).

Rather out of date now though, better add in 5% for Obamacare taxes.

Grand total is, AT MOST 50%.

Keep in mind, the poor, poor overtaxed little guy has a net worth of $80,000,000.

Jesus wept.

[SheilaT]

63. Actually, I don't believe

there is any such thing as "Obamacare taxes". Even if some people have had their health insurance rates rise due to the ACA (and in reality most people have seen a drop), that would be insurance rates, not taxes.

[hfojvt]

64. I couldn't remember the details

but I remember Prosense always including that, to help make the spurious argument that Obama increased taxes on the rich.

The tax I was thinking of is the medicare tax of 3.8% on investment income over $200,000/$250,000. Mentioned here http://obamacarefacts.com/obamacare-taxes/ although my google search may have lead me to a rightwing site.

Although I am not clear on that now either. Is

a) the tax only on the portion over $250,000
b) the tax on all investment income for somebody with over $250,000 in total income
c) the tax on all investment income for somebody with over $250,000 in investment income

In any case, I clearly OVER-estimated its impact (which I wanted to do - to be sure I could not be accused of under-estimating how much he paid in taxes.) Because it is 3.8% and not 5% (although now I think this website I found may be wrong about the 3.8%. Medicare taxes are normally 2.45% which would be 4.9% if one was paying both parts of it.) And it is not on all his income, only his investment income.

Thus 50% is the highest rate he is paying - with the most generous estimate.

[SheilaT]

73. Taxes have been reduced on those at the upper end.

For a really long time. So any alternate claims are pure bullshit. And marginal tax rates are something EVERYONE needs to understand.

I am so freaking tired of the claims of high taxes on those who pay less than the great unwashed, that I could scream.

[former9thward]

66. Who is feeling sorry for him?

I don't care what he is paying but I do think its reasonable to think he may be accurate in his figure. I'm sure you are a great internet accountant however.

[hfojvt]

68. I don't think it is reasonable at all

For one thing, how many of us have any idea how much we pay in sales taxes in a year? Or excise taxes. Oh sure, I bought this many cigarettes and this amount of it went to taxes and I bought this much alcohol and this much gasoline and whatever else.

I do tend to play around with the statistics and information more than the average bear, and would tend to think actual data is more reliable than the unsourced statement of some super rich shill for the rich.

[ProudToBeBlueInRhody]

60. I read this on my phone, and didn't need to see your....

.....username to know it was you.

[former9thward]

65. Another stalker friend.

Have a good day!

[ProudToBeBlueInRhody]

71. Don't flatter yourself

If you have "stalkers" it's because they recognize like I do your constant tacit defense of Republicans and use of RW talking points stick out like a sore thumb.

[former9thward]

72. Have a good day!!!

[Darb]

75. You nailed it PTBBIR.

Their usual reply is some passive have a nice day, or here's a cookie. I think it is straight out of the handbook. The NRA/Teabagger/CIC handbook.

[KentuckyWoman]

16. I give zero odds you'll be munching on your BVD's

I'm pretty sure Hannity is the absolute bottom of the stupid scale. His accountant would have to set a new low for stupid if Hannity is actually forking over that much in taxes and I highly doubt that's possible.

[pinboy3niner]

17. He's obviously being terribly impoverished by the government

I'm sotry, I barely got that out with a straight face.

[hobbit709]

22. And he still takes home more in a month than I get in a year.

So STFU Insanity.

[surrealAmerican]

23. Does he have a large house in a town with high property taxes?

That's probably the biggest chunk of it.

[Adrahil]

24. Even if that were true.....

... how is that a problem?

The man STILL lives in the lap of fucking luxury while other people in this country go hungry. I don't see grounds for complaint.

[melm00se]

25. Not to defend Hannity

but let's look at what might be going into his assertion:

Federal income tax brackets 10% - 39.6%
State (New York) income tax brackets 4% - 8.82%
New York City Income tax: 2.9% ~ 7%
State (New York) sales tax: 4%
Local sales tax (NYC): 4.5%

Assuming that someone is:
- at the absolute top tax bracket in all localities
- paying the maximum tax rate
- spending every penny on items subject to sales tax

this adds up to 64%: 39.6% (federal) + 8.82% (state) + 7% (local) + 4% (state base sales tax) + 4.5% (locality add on)

Now of course we know that he is not paying the max rates on his federal, state and local income taxes nor is he spending all of his discretionary income on sales tax applicable items. But property taxes, FICA and medicare taxes are not included.

From a gross (and without a ton of details that someone like Hannity would be loathe to disclose) analysis, the math works out. Whether or not it is 100% accurate, that is another discussion.

[itcfish]

27. Aren't Property Taxes

Deductable ???? Does he have children? I am sure he has the best accountants to get him the best rate to pay.

[melm00se]

28. hence the "assumptions"

which may or may not be accurate.

I am just showing how he might arrive at the ~60% number.

[demwing]

30. Adding the sales tax rate would be an error

A tax on spending =/= a tax on income unless you spend 100% of your income on taxable purchases.

BTW - I know you're just speculating about how Hannity may have done the math

[DisgustipatedinCA]

29. Standing offer: I'll trade salaries with him, and his tax burden will go way down.

[mainer]

31. Since state and property taxes are deductible, how is this possible?

I don't think anyone, even in the highest brackets, can top 50%.

[jwirr]

33. More than likely he is adding in sales taxes, property taxes,

etc. But most of us end up paying a lot of those extra taxes. He cannot compare that figure without raising our rate also.

[Lizzie Poppet]

38. If true (unlikely), he needs to fire the shit outta his tax accountant. (nm)

[hifiguy]

48. I think Pete Puma must be his tax accountant

[Lizzie Poppet]

49. Classic!

[Beaverhausen]

40. The wealthy get a lot of free stuff

They get free lunches/dinners/travel charged to expense accounts.

They get free seats to sporting and entertainment events-either in the suite or a great seat near the action.

They get a 'car allowance'

they go to events where they get ridiculous 'gift bags'

There's a lot more but that's what my boss gets and she's a mid-level executive at a large media corporation.

[KamaAina]

45. If that's true, he should sue his accountant for malpractice!

[hifiguy]

47. He was dropped on his head a lot

when he was a small child, I take it?

62% tax rate my shiny metal ass.

[JackRiddler]

50. The miracle is that he makes dollars.

[madville]

52. I know my dad and brother pay around 40%

Just in state and federal income tax, it varies a little by what they pay themselves out of the company.

I pay about 15% federal tax after deductions and no state tax because I am in Florida. I think I paid like $6,000 in federal tax last year, I miss the EIC and having dependents, I used to get refunds for around $7,000 after only having a few thiusand withheld, it was free money.

[bullwinkle428]

56. Hannity lies his fucking ass off on political issues every day.

Why would he be any different regarding personal financial issues?

[brewens]

57. The big boys don't buy a system that they come out holding the short end of the stick on.

Hannity is only maybe adding up all the base rates that he COULD pay on his salary. I don't doubt for a second that it might all add up to 62%. I would assume that with all his deductions and most likely a considerable investment income taxed at a much lower rate, he has to be quite a bit lower.

I remember seeing Jay Leno talk about his taxes one time. Before he got the big Tonight Show gig, he was like a rock star type guy, making big money and not being sophisticated at all about where it went. It sounded like he just spent what he wanted to spend, and paid what they said he had to pay in taxes. Someone clued him in that he needed a financial manager once he really started raking it in. Those guys operate on a completely different level that us working guys do.

Maybe not Hannity, but many of the 1% are way in the black on our tax dollars. They take in more of our money than they ever pay out. Some corporate officer of a defense contractor for sure. Others are invested heavily in corporations that make billions in government contracts. It's like the ruling class living off taxing the peasants in the middle ages.

[meaculpa2011]

61. If I add up all the taxes I pay on Long Island...

it amounts to about 50% of my income... more or less depending on the year, since my income varies wildly.

My taxes on a modest home are $14,800 per year. Larger homes a few blocks away reach $25,000 and in the pricier communities $100,000 per year and up is not uncommon.

Then there's state income tax, state and local sales taxes, gasoline tax... it adds up pretty fast.

I schedule my gas fill-ups so that when I visit a client in New Jersey my tank is on fumes as I go through the Holland Tunnel. Gas prices in NJ are 40-50 cents less per gallon.

I gave up my small office in midtown years ago because the commercial occupancy tax became my biggest expense.

I put the extra money saved into an addition on my house which is now my office.

So when you consider "all taxes" it's not so far fetched.

[MillennialDem]

70. Except Hannity's gas taxes are essentially zero compared to his income, his SS

tax is essentially 0, hell, even his property taxes are comparably low (considering his house is worth about 10-20% of his gross salary per year. Think about that for a second).

[MillennialDem]

67. Let's do the math, shall we?

I of course, don't know how much exactly how much he earns (supposedly 30 million). But let's assume him and his wife earn (and they file jointly) $30,000,000 and that it's all ordinary income, no capital gains/carried interest.

30,000,000 x 1.45% for medicare = $435,000

118,500 x 6.2% for social security = $7,347

Federal income tax = $129,996.50 (first $464,850) + 39.6% x $29,535,150 (rest of the 30 million/year) = $129,996.50 + $11,695,919.40 = $11,825,915.90

New York state income tax = $139,432.53 (first $2,058,550) + 8.82% x $27,941,450 = $139,432.53 + $2,464,358.90 = $2,603,791.43


Adding up those numbers yields = $14,872,054.33

So assuming no deductions/tax deferments, etc, all earned income and no capital gains........ LOL YEAH RIGHT SEAN

His effective income tax rate is $14,872.054.33 / $30,000,000 = 49.6% (rounded up)

Even if he spent the rest of his money entirely on purchases, he'd still only hit about 51.6% because of sales tax.

I'm not sure where he gets 62%, because even if he does 39.6% + 8.82% + 1.45% + 6.2% + 4% that only = 60.07%. Even if you added property tax in (on a $30,000,000 home!), you get 62%. Oh wait I see what you did there Sean. Except even aside from marginal tax rates and pretending like you don't have deductions, you need to subtract off 6.2% douchebag, the best you could claim is 56% (and even that's of course, baloney) because only a tiny pittance of your salary gets taxed at 6.2% for social security.

Note: with this many math calculations, I may have made an error.

[MADem]

76. Who watches that crap? Turn that off--rots yer brain! nt

[Turbineguy]

77. Better watch out there Sean

they are no longer arresting people for telling the truth at Fox.

Maybe he didn't get the memo.

[gordianot]

78. He needs to get a get a therapy horse send it to the Olympics. N/T

[hobbit709]

79. That still leaves him over $11 million out his purported $30 million contract.

Fuck him and the horse he rode in on.

[Gormy Cuss]

85. But...but...but How EVER will he cope?

That's less than a million per month.


and as others have noted, fat chance he's actually paying that much.

[WI_DEM]

80. Wish it were more like 90

[BootinUp]

81. Hannity will have to prove he is not lying like usual. lol.

[dawg]

82. This comes as a surprise to me. I never suspected that Sean Hannity was ...

Swedish.