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<blockquote data-quote="tieguy" data-source="post: 687638" data-attributes="member: 1912"><p><strong>Re: Obamanation here today</strong></p><p></p><p><span style="color: blue">A litTax distribution info courtesy of wikopedia</span></p><p>As of 2007, there are about 138 million taxpayers in the United States.<a href="http://en.wikipedia.org/wiki/Taxation_in_the_United_States#cite_note-4" target="_blank"><span style="color: #002bb8">[5]</span></a> The Treasury Department in 2006 reported, based on <a href="http://en.wikipedia.org/wiki/Internal_Revenue_Service" target="_blank"><span style="color: #002bb8">Internal Revenue Service</span></a> (IRS) data, the share of federal income taxes paid by taxpayers of various income levels. The data shows the <a href="http://en.wikipedia.org/wiki/Progressive_tax" target="_blank"><span style="color: #002bb8">progressive tax</span></a> structure of the U.S. federal income tax system on individuals that reduces the <a href="http://en.wikipedia.org/wiki/Tax_incidence" target="_blank"><span style="color: #002bb8">tax incidence</span></a> of people with smaller incomes, as they shift the incidence disproportionately to those with higher incomes - the top 0.1% of taxpayers by income pay 17.4% of federal income taxes (earning 9.1% of the income), the top 1% with gross income of $328,049 or more pay 36.9% (earning 19%), the top 5% with gross income of $137,056 or more pay 57.1% (earning 33.4%), and the bottom 50% with gross income of $30,122 or less pay 3.3% (earning 13.4%).<a href="http://en.wikipedia.org/wiki/Taxation_in_the_United_States#cite_note-5" target="_blank"><span style="color: #002bb8">[6]</span></a><a href="http://en.wikipedia.org/wiki/Taxation_in_the_United_States#cite_note-6" target="_blank"><span style="color: #002bb8">[7]</span></a> If the federal taxation rate is compared with the <a href="http://en.wikipedia.org/wiki/Wealth_distribution" target="_blank"><span style="color: #002bb8">wealth distribution</span></a> rate, the net wealth (not only income but also including real estate, cars, house, stocks, etc) distribution of the United States does almost coincide with the share of income tax - the top 1% pay 36.9% of federal tax (wealth 32.7%), the top 5% pay 57.1% (wealth 57.2%), top 10% pay 68% (wealth 69.8%), and the bottom 50% pay 3.3% (wealth 2.8%).<a href="http://en.wikipedia.org/wiki/Taxation_in_the_United_States#cite_note-Kennickell-7" target="_blank"><span style="color: #002bb8">[8]</span></a></p><p>Other taxes in the United States with a less progressive structure or a regressive structure, and legal <a href="http://en.wikipedia.org/wiki/Tax_avoidance" target="_blank"><span style="color: #002bb8">tax avoidance</span></a> loopholes change the overall tax burden distribution. For example, the <a href="http://en.wikipedia.org/wiki/Federal_Insurance_Contributions_Act_tax" target="_blank"><span style="color: #002bb8">payroll tax</span></a> system (FICA), a 12.4% Social Security tax on wages up to $106,800(for 2009) and a 2.9% Medicare tax (a 15.3% total tax that is often split between employee and employer) is called a <a href="http://en.wikipedia.org/wiki/Regressive_tax" target="_blank"><span style="color: #002bb8">regressive tax</span></a> on income with no standard deduction or personal exemptions but in effect is forced savings which return to the payer in the form of retirement benefits and health care. The <a href="http://en.wikipedia.org/wiki/Center_on_Budget_and_Policy_Priorities" target="_blank"><span style="color: #002bb8">Center on Budget and Policy Priorities</span></a> states that <em>three-fourths</em> of U.S. taxpayers pay more in payroll taxes than they do in income taxes.<a href="http://en.wikipedia.org/wiki/Taxation_in_the_United_States#cite_note-newlight-8" target="_blank"><span style="color: #002bb8">[9]</span></a></p><p>The <a href="http://en.wikipedia.org/wiki/National_Bureau_of_Economic_Research" target="_blank"><span style="color: #002bb8">National Bureau of Economic Research</span></a> has concluded that the combined federal, state, and local government average <a href="http://en.wikipedia.org/wiki/Marginal_tax_rate" target="_blank"><span style="color: #002bb8">marginal tax rate</span></a> for most workers to be about 40% of income.<a href="http://en.wikipedia.org/wiki/Taxation_in_the_United_States#cite_note-realtaxrate-9" target="_blank"><span style="color: #002bb8">[10]</span></a><a href="http://en.wikipedia.org/wiki/Taxation_in_the_United_States#cite_note-freetochoose-10" target="_blank"><span style="color: #002bb8">[11]</span></a></p><p> </p><p> </p><p>"</p></blockquote><p></p>
[QUOTE="tieguy, post: 687638, member: 1912"] [b]Re: Obamanation here today[/b] [COLOR=blue]A litTax distribution info courtesy of wikopedia[/COLOR] As of 2007, there are about 138 million taxpayers in the United States.[URL="http://en.wikipedia.org/wiki/Taxation_in_the_United_States#cite_note-4"][COLOR=#002bb8][5][/COLOR][/URL] The Treasury Department in 2006 reported, based on [URL="http://en.wikipedia.org/wiki/Internal_Revenue_Service"][COLOR=#002bb8]Internal Revenue Service[/COLOR][/URL] (IRS) data, the share of federal income taxes paid by taxpayers of various income levels. The data shows the [URL="http://en.wikipedia.org/wiki/Progressive_tax"][COLOR=#002bb8]progressive tax[/COLOR][/URL] structure of the U.S. federal income tax system on individuals that reduces the [URL="http://en.wikipedia.org/wiki/Tax_incidence"][COLOR=#002bb8]tax incidence[/COLOR][/URL] of people with smaller incomes, as they shift the incidence disproportionately to those with higher incomes - the top 0.1% of taxpayers by income pay 17.4% of federal income taxes (earning 9.1% of the income), the top 1% with gross income of $328,049 or more pay 36.9% (earning 19%), the top 5% with gross income of $137,056 or more pay 57.1% (earning 33.4%), and the bottom 50% with gross income of $30,122 or less pay 3.3% (earning 13.4%).[URL="http://en.wikipedia.org/wiki/Taxation_in_the_United_States#cite_note-5"][COLOR=#002bb8][6][/COLOR][/URL][URL="http://en.wikipedia.org/wiki/Taxation_in_the_United_States#cite_note-6"][COLOR=#002bb8][7][/COLOR][/URL] If the federal taxation rate is compared with the [URL="http://en.wikipedia.org/wiki/Wealth_distribution"][COLOR=#002bb8]wealth distribution[/COLOR][/URL] rate, the net wealth (not only income but also including real estate, cars, house, stocks, etc) distribution of the United States does almost coincide with the share of income tax - the top 1% pay 36.9% of federal tax (wealth 32.7%), the top 5% pay 57.1% (wealth 57.2%), top 10% pay 68% (wealth 69.8%), and the bottom 50% pay 3.3% (wealth 2.8%).[URL="http://en.wikipedia.org/wiki/Taxation_in_the_United_States#cite_note-Kennickell-7"][COLOR=#002bb8][8][/COLOR][/URL] Other taxes in the United States with a less progressive structure or a regressive structure, and legal [URL="http://en.wikipedia.org/wiki/Tax_avoidance"][COLOR=#002bb8]tax avoidance[/COLOR][/URL] loopholes change the overall tax burden distribution. For example, the [URL="http://en.wikipedia.org/wiki/Federal_Insurance_Contributions_Act_tax"][COLOR=#002bb8]payroll tax[/COLOR][/URL] system (FICA), a 12.4% Social Security tax on wages up to $106,800(for 2009) and a 2.9% Medicare tax (a 15.3% total tax that is often split between employee and employer) is called a [URL="http://en.wikipedia.org/wiki/Regressive_tax"][COLOR=#002bb8]regressive tax[/COLOR][/URL] on income with no standard deduction or personal exemptions but in effect is forced savings which return to the payer in the form of retirement benefits and health care. The [URL="http://en.wikipedia.org/wiki/Center_on_Budget_and_Policy_Priorities"][COLOR=#002bb8]Center on Budget and Policy Priorities[/COLOR][/URL] states that [I]three-fourths[/I] of U.S. taxpayers pay more in payroll taxes than they do in income taxes.[URL="http://en.wikipedia.org/wiki/Taxation_in_the_United_States#cite_note-newlight-8"][COLOR=#002bb8][9][/COLOR][/URL] The [URL="http://en.wikipedia.org/wiki/National_Bureau_of_Economic_Research"][COLOR=#002bb8]National Bureau of Economic Research[/COLOR][/URL] has concluded that the combined federal, state, and local government average [URL="http://en.wikipedia.org/wiki/Marginal_tax_rate"][COLOR=#002bb8]marginal tax rate[/COLOR][/URL] for most workers to be about 40% of income.[URL="http://en.wikipedia.org/wiki/Taxation_in_the_United_States#cite_note-realtaxrate-9"][COLOR=#002bb8][10][/COLOR][/URL][URL="http://en.wikipedia.org/wiki/Taxation_in_the_United_States#cite_note-freetochoose-10"][COLOR=#002bb8][11][/COLOR][/URL] " [/QUOTE]
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