Forum Post: Revenues Fund America’s Future
Posted 13 years ago on Oct. 4, 2011, 11:10 a.m. EST by DWTJr
(0)
from Santa Ana, San Jose
This content is user submitted and not an official statement
(or How to Speak to Republicans about “Job Creators”)
Why is there such a big revenue crisis in the USA? Could it be that the top1% of taxpayers, who control 42% of the wealth and who make 25% of the total personal income earned each year in America, spend a lot of that money to make sure they don’t have to pay for the privilege? That is; paying their fair share of taxes. After all, it is the USA’s democratic, capitalistic, free market system and its governments’ institutions and investments in infrastructure, education and research that makes it possible for the 1,399,606 Americans (in 2008) to earn this kind of wealth.
This top 1% of rich and super-rich taxpayers point out they pay 30.8% of their income in Federal, State, and local taxes (just think of the property taxes alone), and 38% of all Federal income tax collected. They plead that they are paying more than their fair share. However, the next 99 out of 100 taxpayers, on average, earn only 75¢ for every $25 the top 1 earns. Put another way; when we make our first dollar the top 1% makes their first $3,267.
According to the IRS (in 2008) the adjusted gross income (AGI) of the top 1% was 20% of the total taxable income, i.e. the top 1 percent had tax breaks totaling much more than 1/5 of their income considering how many below them don’t even earn enough AGI to be taxable (about 50.7% of returns paid no income taxes in 2008). On average the top one out of each 100 taxpayers earns a taxable income of $1,204,247, while the next 99 earn just $46,651 each of taxable income. In AGI terms the top 1 earns 25.8 times more taxable income than each of the next 99. Put another way; when we work our first 10 days the top 1 % receives more income than the rest of us will earn all year.
The effective Federal tax rate on the top 1% was 23.2% while the effective Federal tax rate on the next 99% was 9.48%. So while the top 1% makes 25.8 times more taxable money than what each one of the next 99% makes, they only pay 2 ½ times more in taxes. Is this class warfare? Is this fair? Is this the American Dream?
The late George Carlin, the outspoken and controversial comedian and modern day philosopher, said it best:
“The reason they call it the American Dream is because you have to be asleep to believe it.”
The Bush tax cuts have been in place for nine years and the official unemployment rate just dropped to 9.1%. Does anybody still believe cutting taxes on the rich and super-rich creates jobs? And by the way, it is demand for goods and services that creates jobs not “job creators”. The job creators hire more people to fill new demand. It’s true that taxing job creators does not increase demand, but spending that increased revenue on projects that improve America’s future does. History shows no matter how much we’ve taxed the job creators they still create jobs if there is demand. It just means smaller profits but profits none the less.
The AGI of the bottom 50% of taxpayers is only $15,354 on average. So, the next time you hear somebody say 51% of Americans don’t even pay taxes, I want you to reply: “You mean 51% of Americans don’t even make enough money to be in the lowest tax bracket; what’s wrong with this picture?”
http://www.washingtonmonthly.com/political-animal/2011_08/a_timeline_of_events031362.php http://taxfoundation.org/taxdata/show/250.html#Data http://sociologyucsc.edu/whorulesamerica/power/wealth.html
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Our nation, our species and our world are in crisis. The U.S. has an important role to play in the solution, but we can no longer afford to let corporate greed and corrupt politics set the policies of our nation. this sounds good
"(or How to Speak to Republicans about “Job Creators”)"
This is a horrible way to introduce yourself as part of a "99%" movement.
You need to come to terms with the fact that the Dems/Reps are one party and work together. For example, Obsama proposed a payroll tax cut which pushes Social Security into the red, setting the stage for it to be cut later. He uses the false pretense of concern about climate change to stop utilities from building new power plants while China builds them dirtier and several per week. I'm not saying Obama is unusually anti-job, because the Republicans and Democrats are the same party and they both agree with this stuff.
How do you define the 99%? Who are you going to convince to change the laws? If you want a revolution you need to go to the 1%s' homes and have them sign over their assets. Use the social register in your town to find them.
I see this as a battle of the people versus the owners of central banks and their employees.
And, no, they are not going to sign over control. We have to take it. This isn't theft because the private central bank called the Federal Reserve is unconstitutional.
This is what we need to do - articulate, use language, understand frames.