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Thread: Help me out.

  1. #31
    Senior Member Buzz's Avatar
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    I don't expect you to believe me, but the latest statistics I can find is for 2008.

    In 2008 the top 10% made pretty close to 50% of the total income earned in the country. The top 10%'s tax burden was about 55% of total federal revenue.

    I can dig it all out and present it to you, but I promise all them numbers are going to make your head hurt.

    When folks throw numbers like the ones in your article around they don't want to talk about stuff like that, it doesn't help their case.
    "For everyone to whom much is given, of him shall much be required." -- Luke 12:48

    Raven - Moneybird's Black Magic Marker***
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  2. #32
    Senior Member luvmylabs23139's Avatar
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    A great start to making taxes more FAIR is to eliminate any and all REFUNDABLE tax credits. That is nothing but flat out redistribution of wealth. Once you hit zero, that's it.
    Hihope Hiland Heathen of Perth CD, RE, CGC, TDI

  3. #33
    Senior Member MooseGooser's Avatar
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    Buzz

    Thanks for the offer on the numbers! I agree it will make my head spin!

    I have already had to much beer today, and my head dont need no more spinnin!

    But HERE,,
    Look at this educational documentry I found.
    This is much more on Goosers level of intellect.

    The girl reminds me of Barbra! Shes really HOT,, but Man she'd make me jump off a bridge! (after it was repaired when it didnt need to be, and is now safe to jump off of.)

    http://www.youtube.com/user/Battlefi.../5/vgTFiMUF4kY

    Gooser
    It is far easier to spit on the work of others than it is to produce something better yourself.
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    My Christian Name is Michael Baker..
    I have gone by "Gooser" since I was a "gossling"

  4. #34
    Senior Member luvmylabs23139's Avatar
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    THese tax rates certainly are not lower than they were 70 years ago!
    ONe did not even exist.

    Medicare was legislated in 1965, and a new payroll tax was implemented in 1966 to cover the expense of the new entitlement program. The initial tax was 0.35%, payable by both the employee and employer on the first $6,600 of the employee's wages. The $6,600 upper wage limit rose by about 50% in total over the first 8 years, and then dramatically increased thereafter, until reaching $135,000 in 1993. That represents about an 11.40% annual increase between 1966 and 1993, whereas inflation increased at an annual rate of 5.38% during that time. The upper wage limit was eliminated in 1994, meaning that the tax began to be charged on all wages at that time.

    While the Medicare wage limit was being increased, the tax rate was increased continuously as well. It approximately tripled in the first 8 years from 0.35% to 1.0%, and eventually hit the current level of 1.45% in 1986. In dollar terms, the amount collected on the wage limit maximum from both the employee and employer increased from $23.10 in 1966 to $1,957.50 on the $135,000 limit that was in place in 1993. That represents a 17.2% annual increase, whereas, as noted above, inflation increased at 5.38% over that period. Hence, the maximum tax was increased at over 3 times the rate of inflation, and again, there has been no maximum tax since 1994.

    Changes in the Social Security tax are equally staggering. The tax was implemented in 1937 at 1.0% of the first $3,000 of wages. It stands today at 6.20% on the first $106,800 of wages. Inflation between 1937 and 2010 was 3.76% annually, whereas the wage limit has risen at 4.95%. Hence, even if the original 1.0% tax had remained constant, the amount collected on the limit would have increased substantially more than the rate of inflation due to the more rapidly increasing wage limit. However, with increases in both the limit and the rate, the tax in dollar terms has increased on the wage limit from $30 to $6,622, a 7.57% annual increase, which is double the rate of inflation between 1937 and 2010.
    Hihope Hiland Heathen of Perth CD, RE, CGC, TDI

  5. #35
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    It's real easy to understand, Bush put millions of people and businesses out of work and they are no longer paying any taxes.

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