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Thread: Where does the Govt Get Its Revenue?

  1. #1
    Senior Member Gerry Clinchy's Avatar
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    Default Where does the Govt Get Its Revenue?

    http://cnsnews.com/news/article/tere...-average-18950

    The top 40 percent of households by before-tax income actually paid 106.2 percent of the nation’s net income taxes in 2010, according to a new study by the Congressional Budget Office.
    At the same time, households in the bottom 40 percent took in an average of $18,950 in what the CBO called “government transfers” in 2010.
    - See more at: http://cnsnews.com/news/article/tere....vc58bzfR.dpuf


    Won't let me cut 'n paste, so briefly: The top 40% of households in before-tax income pay 106.2% of the taxes. This comes as result of the fact that the lowest 40% of households in before-tax income get refund+ on the taxes paid for a net negative taxes paid.

    This is from CBO figures for 2010. The article explains how the CBO arrives at these numbers.

    EDIT: So it did cut 'n paste after all. I've edited out the duplicate.
    Last edited by Gerry Clinchy; 12-11-2013 at 03:15 PM.
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    Senior Member zeus3925's Avatar
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    You'll have to explain 106%. All of the taxes = 100%!
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    Senior Member swampcollielover's Avatar
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    Gerry...Good post, but I have always got a laugh out of how the Government and media talk about having Revenues....as if they actually produce any Revenue. In fact the Government produces no goods or services! They only take our money and use it to buy goods and provide services that may or may not be necessary or in demand.

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    Quote Originally Posted by swampcollielover View Post
    Gerry...Good In fact the Government produces no goods or services! .
    Really????

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    Senior Member duckheads's Avatar
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    Quote Originally Posted by zeus3925 View Post
    You'll have to explain 106%. All of the taxes = 100%!
    Read the article and maybe just maybe you will be able to answer your own question.
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    Senior Member coachmo's Avatar
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    That's a long shot! A real, real long shot! If he does he will never admit it.

  7. #7
    Senior Member Gerry Clinchy's Avatar
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    Quote Originally Posted by zeus3925 View Post
    You'll have to explain 106%. All of the taxes = 100%!
    The article explains it better than I can. After the lowest two quintiles are assessed their taxes, they are also given tax credits, like dependent children tax credit (like the millions that went to that same address in GA!) These are actual tax credits, not just "deductions" on the nature of a Schedule A deduction. So, someone who needed to pay $1000 in taxes might get a tax credit of $2000 ... so they have a negative $1000 in taxes. The govt sends them a check for $1000. The govt has $1000 less to pay its other obligations.

    In the end, the two highest quintiles' contribution to the govt's usable revenue is a larger percentage of the total avaiilable govt revenue. That's a very crude explanation.
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    Senior Member Gerry Clinchy's Avatar
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    Quote Originally Posted by mjh345 View Post
    Originally Posted by swampcollielover Gerry...Good In fact the Government produces no goods or services! .



    Really????
    A govt may build a road. I believe the Constitution provides for the govt to do this and collect tolls to pay for the "goods" it has provided. If there are no tolls, then the govt taxes the citizens and uses that money to build the bridge (or road), and then taxes pay for the "service" of maintaining the bridge (or road). The money, though, always comes from taxes which are levied on the wealth of the citizens, created by the voluntary exchange of goods and services among those citizens (private sector).

    Most will agree that bridges, roads, the military and law enforcement are very valid functions of govt. Whether funding the self-defense mechanism of milipedes is a valid function of govt may not be agreed upon by everyone.

    Funding of things like art were established as a "govt" function by monarchs in the Old World. Popes/the Church were a type of monarchy unto their own back then; and they also funded art. Whether art funding is a valid function of a democratic republic may be open to question. Perhaps in the beginning of the US, it was valid to paint portraits of Presidents and other important officials for a historical record. Today the govt still pays hundreds of thousands to paint portraits of officials, not only Presidents, but many lesser officials. With photographic technology available, it does seem kind of wasteful to pay $25,000 for a portrait of Katherine Sebelius. A photograph would be more appropriate, and also photographs could be replaced if the original one were damaged in some way.

    So, we just get back to the fact that the govt may actually provide some services, for which they pay with wealth from the taxing of the private sector. The question is which of those services are a valid govt function. Maintaining a historical record of the nation seems valid. Paying $25,000 for a painted portrait v. $2000 for a photograph may not be justifiable.

    When the space program generates innovations as a result of their work, again the govt got the funds to discover these new ideas from the taxation of the private sector's wealth. It always has to start with the funding of the private sector. When Obama said, "You didn't build that," he might have been 1/2 right ... the infrastructure that assists the private sector was built by previous generations' wealth. However, the "service" of maintaining that infrastructure comes from the wealth of the present generation of the private sector. Obama's statement failed to give credit to those who created the wealth to pay the govt to build that infrastructure. His statement left it open for the low-info listener to assume that govt did the building, while leaving out the critical condition of who truly paid for the govt to do these things.
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    Senior Member zeus3925's Avatar
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    $2000 for a photo portrait? I grabbing my camera and heading for DC.
    Zeus

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  10. #10
    Senior Member zeus3925's Avatar
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    Quote Originally Posted by duckheads View Post
    Read the article and maybe just maybe you will be able to answer your own question.
    I did. They used some really fuzzy math to come up with 106% All the taxes still computes as 100%.
    Zeus

    I don't want to feed an ugly dog!

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