Top 1%: 21% of total income, pay 21.6% of total taxes

[Cicada]

[link:http://www.ctj.org/pdf/taxday2012.pdf|

Why do we let people get away with the lie that the US has a progressive tax system? We have a mildly progressive federal tax system and a heavily regressive state and local tax system netting to basically a flat overall tax system.

Everyone who falsely claims that the one percet pay more tha their share should be corrected. The top one percent get 21% of total income and pay 21.6% of total taxes.

And Romney doesn't even pay 21.6%, he pays way less.

[MrDiaz]

1. n/t

Link???

[Cicada]

2. here is lik to proof

http://www.ctj.org/pdf/taxday2012.pdf

[BlueStreak]

17. And this only covers REPORTED income

The 1% have lots of opportunities, legally and not-so-legally, to shelter income. This says the 1% are paying 21% of their income in Federal taxes. But that is 21% of their REPORTED income. They are most likely sheltering the great majority of their income through various corporate structures and other tricks that are available to those who can afford to pay specialized lawyers and accountants.

I am betting that if it were possible to have an accurate view of the sheltering (and it may not be possible to do that), the reality is that the 1% pay more like 5% of their ACTUAL income in federal taxes.

[Silent3]

3. And around 30% (probably more by now) of the wealth

So when you figure wealth, not just income, into the taxes people pay, the 1% is getting off very easy.

Further, there's probably quite a bit of hidden, off-the-books, off-shore income too, especially as you go higher up in wealth and income and start talking about the 1% of the 1%.

[geckosfeet]

4. Once again, the only numbers that matter are the %'s as share of total income.

This, in our system, is the only fair and equitable measure of the impact of tax rates on individuals and families. I can think of better ways, but given the existing system these are the only numbers that really mean anything if one is considering how "fair" the tax system is.

"Fairness" should not be based on numbers alone. "Fairness" should be calculated by a number of factors which could include employment levels, housing conditions, quality of life, region of the country, consumption levels, medical and health requirements, etc.

Given the existing system, personally, I would exempt families under $25k, and individuals under $18k entirely from paying any federal income tax at all. And apply scaled rates on income over $200k. I feel like between $25k and $200k the tax rates are about as reasonable as we can expect, but at either end of the income scale we need major adjustments.

[ggdavidgarrett]

5. Where do you get your stats ?

Your numbers seem way wrong. The middle class have and always will always carry the largest part of the tax burden for this country. Mainly because thier are simply more of us. The poor can't pay and the Rich pay billions. Almost all tax increase are aimed at the middle class, simply because the Government can get more by raising taxes there.

[leftynyc]

10. There is a link above

and here it is again:

http://www.ctj.org/pdf/taxday2012.pdf

Democrats should be blowing this talking point out of the water.

[part man all 86]

11. Troll go away

[lillypaddle]

16. he's a gonner

[Jim__]

9. Romney and Ryan have no plan to address "runaway debt."

Only a fool would believe they have a "secret plan" (e.g. closing unspecified tax loop holes) to do so.

[leftynyc]

12. Your boys have no plan

other than giving the top 1% even more tax breaks. That's not a plan. And you must have a penis because all of us with XX chromosomes know our freedom is hanging by a thread if the pubs get into office. Go peddle your bullshit somewhere else.

[part man all 86]

14. Sorry charlie but I know businesses that employ people and they are not making $200,000.

Take a hike liar and I hope karma shows you the door.

[ggdavidgarrett]

8. Redistribution of Wealth

If you did not earn it you have know right to it.

[part man all 86]

13. GOP has redistributed wealth from the poor and middle class to the rich.

[Travis_0004]

15. Forbes says its around 38%

http://www.forbes.com/sites/joshbarro/2012/01/30/do-one-percent-of-americans-pay-38-percent-of-taxes/

I'm going to believe them over your source.

[leftynyc]

18. There's a difference between

income and wealth - you may want to learn it.