Sen. Grassley "Richest 1% pay 40% of taxes..."

[upi402]

"...while they only paid 18% in the Reagan years."

My kid always asks if taxes are the problem in America. It comes from school, somehow. Ugh.

[Vickers]

1. Ask: And what percentage of *wealth* do they control? 80%?

:eyes:

[RUMMYisFROSTED]

4. The question never asked.

The left talking heads are really bad on this point. The only person I hear talk about this is Hartmann.

[hatrack]

10. And in the 1980s, they had 9% of the wealth. Now, it's about 23%

STFU, Grassley.

[TahitiNut]

12. It's over 50% by now. Last study was done in 2001, afaik.

http://sociology.ucsc.edu/whorulesamerica/power/wealth.html

[ozu]

17. Thanks for the link

It's good to have some actual numbers. Even in this thread, people have said 23, 60, 90, 80, etc..

[margotb822]

27. I'm sure it's more now, after Bush handed them the country

Damn, it makes me so mad. These greedy bastards with no desire to do anything for their fellow Americans.

[liberal N proud]

14. Just a little lopsided

But they don't want to discuss that

[DrDan]

26. yes - Senator Grassley - please tell us how much wealth they add each year

[Touchdown]

2. and they own 60% of America.

Which is really fair, kid?

[tabatha]

3. probably more than that...

[Cant trust em]

5. While this may seem frustrating...

what are the alternatives? Where do Republicans propose our income come from? The poor?

[upi402]

6. Well yeah, and "somehow" they get richer and richer???

Andrea Mitchell just let him say that unchallenged. And that was on the 'socialist' MSNBC too.

[Mass]

7. Sure, since then, the rich have gotten richer, the poor poorer.

What is so hard to understand.

[HysteryDiagnosis]

8. You mean the tax rate for multimillionaires is 40%???

[DBoon]

11. No, 40% of tax revenue comes from them

I bet their actual tax rate is very low - they are just so unbelievable wealthy that this low rate translates into huge tax revenu

[Sal Minella]

23. Capital gains tax is 15% I believe -- that's how Warren Buffett's income tax

is a smaller percent of his income than the percent his secretary pays on hers.

Buffett himself has talked about this to the press -- it's no secret.

[DBoon]

9. "Richest 1% can afford to pay 90% of taxes"

nt

[Doctor_J]

13. They own 80% of america, and make 90% of the income

Why won't anyone say this to these rabies cases on the right wing?

[hfojvt]

15. I have to agree with Grassley

Let's go back to the rates of the 1970s.

[Tierra_y_Libertad]

16. A simple solution for the poor, downtrodden, rich. Give away your money.

Voila! Then you wouldn't have to pay those horrible taxes.

:nopity: :nopity:

[guitar man]

18. yeah, so

what percentage of everything do they own? If they're so damned concerned about what percentage of taxes they pay, they can raise my salary. If I make more, I'll pay more taxes and their side of the percentage will drop. Unless they want tot do that, they can STFU. :grr:

[Winterblues]

19. As Dick Cheney would put it ...."SO"

BFD, so now they pay 41% big whoop..

[CanonRay]

20. So now they'll pay 45%. Fuck 'em

[liberalmuse]

21. That's because they are richer now.

I'd like to know what that 40% constitutes as a percentage of their gross income. It probably amounts to much less than what we underlings are paying.

[Initech]

22. Oh I'll believe that when me shit turns purple and smells like rainbow sherbert!

There's an old Simpsons joke where Smithers says "Actually sir, thanks to our creative bookkeeping and corporate loopholes we only pay $3 a year" and Burns replies "Youre right! We're getting screwed!"

[Mari333]

24. um someone posted this the other day

never mind..it was a chart from talking points memo showing how the rich pay almost nothing..if anyone has it let me know...

[county worker]

25. The only way to compare taxes is by calculating the percent of income the

taxes are.

Also if you are in the investor class, much of your income comes from long term capital gains. That is taxed at 15%.

[Mass]

28. Tax rates since 1920s. May be they want to go back to the 1960s under Nixon?

[OHdem10]

29. Tell all these whiners, Start paying the Lower Middle Class and

Working Poor better wages. Stop Policies which have caused
the Middle Class to lose $10,000 annually over 10years.

If these groups were paid more, they could share the tax burden.

Businesses, pay it better pay scales for workers or pay it out
your taxes.

[qb]

30. Woohoo! This means raising their taxes will provide megabucks for the economy! nt