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The One Percent

LowDown

LowDown

Curmudgeon
DP Veteran
Joined
Jul 19, 2012
Messages
14,185
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Location
Houston
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Political Leaning
Libertarian
To be one of the one percent a person has to make about $380,000 a year. The top 1 percent make about 19% of the total income of American citizens, that is, about $2.5 trillion, and they pay about 37% in income taxes, that is, of taxable income.

When asked how the country would pay for free college educations for everyone and forgive all student loans, a student activist said that they'd get it from the one percent.

When asked how we were going to pay for all the new programs Bernie Sanders wants, a 150% increase in federal spending in all, according to the Wall Street Journal, Sanders says he'd get the rich 1% to pay for it.

But if we took twice as much money from the the one percent that we do now it wouldn't even cover much more than the deficit we have every year now much less a new spending program like free college and student debt forgiveness and all the stuff that Sanders wants.

As usual, Democrats will have to raise taxes on the middle class to pay for these things. That's where the real money is.
 
LowDown said:
To be one of the one percent a person has to make about $380,000 a year. The top 1 percent make about 19% of the total income of American citizens, that is, about $2.5 trillion, and they pay about 37% in income taxes, that is, of taxable income.

When asked how the country would pay for free college educations for everyone and forgive all student loans, a student activist said that they'd get it from the one percent.

When asked how we were going to pay for all the new programs Bernie Sanders wants, a 150% increase in federal spending in all, according to the Wall Street Journal, Sanders says he'd get the rich 1% to pay for it.

But if we took twice as much money from the the one percent that we do now it wouldn't even cover much more than the deficit we have every year now much less a new spending program like free college and student debt forgiveness and all the stuff that Sanders wants.

As usual, Democrats will have to raise taxes on the middle class to pay for these things. That's where the real money is.
Click to expand...

We taxed them at 90% to fight WWII. Let's do it again to pay for our new wars, started by Bush- comrade of the 1%!
 
LowDown said:
To be one of the one percent a person has to make about $380,000 a year. The top 1 percent make about 19% of the total income of American citizens, that is, about $2.5 trillion, and they pay about 37% in income taxes, that is, of taxable income.

(snip)
Click to expand...

"The average annual income of the top 1 percent of the population is $717,000, compared to the average income of the rest of the population, which is around $51,000. The real disparity between the classes isn’t in income, however, but in net value: The 1 percent are worth about $8.4 million, or 70 times the worth of the lower classes."
Forbes Welcome
 
JumpinJack said:
"The average annual income of the top 1 percent of the population is $717,000, compared to the average income of the rest of the population, which is around $51,000. The real disparity between the classes isn’t in income, however, but in net value: The 1 percent are worth about $8.4 million, or 70 times the worth of the lower classes."
Forbes Welcome
Click to expand...

$717,000 is the average income of the top 1%. But the "poorest" of the top 1% earn about $380,000/year.
 
zip said:
We taxed them at 90% to fight WWII. Let's do it again to pay for our new wars, started by Bush- comrade of the 1%!
Click to expand...

No it wasn't really 90%. There were so many loop holes they barely paid 20%.

And even with no loopholes increasing it to 90% would do much.
 
zip said:
We taxed them at 90% to fight WWII. Let's do it again to pay for our new wars, started by Bush- comrade of the 1%!
Click to expand...

why should someone else pay more than you do? the richest politicians tend to be Democraps.
 
BrewerBob said:
$717,000 is the average income of the top 1%. But the "poorest" of the top 1% earn about $380,000/year.
Click to expand...

It depends on where you live. In Connecticut, the poorest 1 percenter earns almost $700,000. In NM, it's about half that. The average is $717,000, with an average net worth of $8.4 Million Dollars.

To dwell on the poorest makes as much sense as to dwell, or set statistics, on the richest one percenter. It's the average that matters.
 
JumpinJack said:
"The average annual income of the top 1 percent of the population is $717,000, compared to the average income of the rest of the population, which is around $51,000. The real disparity between the classes isn’t in income, however, but in net value: The 1 percent are worth about $8.4 million, or 70 times the worth of the lower classes."
Forbes Welcome
Click to expand...

$8.4 million? I'm kind of surprised it's that low.

But I'm sure that you know that there's a big tax on wealth. They collect it when you die. Property tax is also a pretty significant tax on wealth.
 
TurtleDude said:
why should someone else pay more than you do? the richest politicians tend to be Democraps.
Click to expand...

Turtle I don't even read your posts. Yes, I can type here without looking at your post.
 
zip said:
Turtle I don't even read your posts. Yes, I can type here without looking at your post.
Click to expand...

probably a good idea if you don't want your idiotic envy laden nonsense to get thrashed
 
Kobie said:
Ah yes, more of the "ITZ ALL ENVEEEE" red herring.
Click to expand...

Lame Kobie. anyone who wants others to pay 90% has serious envy issues
 
LowDown said:
To be one of the one percent a person has to make about $380,000 a year. The top 1 percent make about 19% of the total income of American citizens, that is, about $2.5 trillion, and they pay about 37% in income taxes, that is, of taxable income.

When asked how the country would pay for free college educations for everyone and forgive all student loans, a student activist said that they'd get it from the one percent.

When asked how we were going to pay for all the new programs Bernie Sanders wants, a 150% increase in federal spending in all, according to the Wall Street Journal, Sanders says he'd get the rich 1% to pay for it.

But if we took twice as much money from the the one percent that we do now it wouldn't even cover much more than the deficit we have every year now much less a new spending program like free college and student debt forgiveness and all the stuff that Sanders wants.

As usual, Democrats will have to raise taxes on the middle class to pay for these things. That's where the real money is.
Click to expand...

plenty of other countries do it why can't america?
 
TurtleDude said:
Lame Kobie. anyone who wants others to pay 90% has serious envy issues
Click to expand...

That is the problem with the world today. Too many people think someone else needs to pay their way, fight their battles, and even reward people who break our laws. It is just unbelievable.
 
LowDown said:
To be one of the one percent a person has to make about $380,000 a year. The top 1 percent make about 19% of the total income of American citizens, that is, about $2.5 trillion, and they pay about 37% in income taxes, that is, of taxable income.

When asked how the country would pay for free college educations for everyone and forgive all student loans, a student activist said that they'd get it from the one percent.

When asked how we were going to pay for all the new programs Bernie Sanders wants, a 150% increase in federal spending in all, according to the Wall Street Journal, Sanders says he'd get the rich 1% to pay for it.

But if we took twice as much money from the the one percent that we do now it wouldn't even cover much more than the deficit we have every year now much less a new spending program like free college and student debt forgiveness and all the stuff that Sanders wants.

As usual, Democrats will have to raise taxes on the middle class to pay for these things. That's where the real money is.
Click to expand...

Wal-Mart (family) owns as much wealth as the bottom 40% or more of the entire Country.
Yet they won't open a new checkout line.

Your perspective is the flaw.

Figure out what is important and what is not. ONLY THEN will you ACTUALLY LEARN.

Wal-Mart workers are on welfare. And the richest business on the planet is squeezing them into more poverty.

This isn't rocket science people.
 
TurtleDude said:
Lame Kobie. anyone who wants others to pay 90% has serious envy issues
Click to expand...

I'm curious where you came up with 90%.

Corporations today have an all time high record profits and workers wages are at an all time low.

Discuss your 90% kid.
 
Divergent said:
I'm curious where you came up with 90%.

Corporations today have an all time high record profits and workers wages are at an all time low.

Discuss your 90% kid.
Click to expand...

90% was the tax rate for the wealthy during ww2 and little while after, they obviously could deduct down from there but this made sure they made investments and bought things the government approves of like real estate or payroll for a business, instead of paying for vacations to fiji and diamond plated Iphone covers.
 
LowDown said:
To be one of the one percent a person has to make about $380,000 a year. The top 1 percent make about 19% of the total income of American citizens, that is, about $2.5 trillion, and they pay about 37% in income taxes, that is, of taxable income.

When asked how the country would pay for free college educations for everyone and forgive all student loans, a student activist said that they'd get it from the one percent.

When asked how we were going to pay for all the new programs Bernie Sanders wants, a 150% increase in federal spending in all, according to the Wall Street Journal, Sanders says he'd get the rich 1% to pay for it.

But if we took twice as much money from the the one percent that we do now it wouldn't even cover much more than the deficit we have every year now much less a new spending program like free college and student debt forgiveness and all the stuff that Sanders wants.

As usual, Democrats will have to raise taxes on the middle class to pay for these things. That's where the real money is.
Click to expand...

I'm not there yet.

:)
 
dimensionallava said:
90% was the tax rate for the wealthy during ww2 and little while after, they obviously could deduct down from there but this made sure they made investments and bought things the government approves of like real estate or payroll for a business, instead of paying for vacations to fiji and diamond plated Iphone covers.
Click to expand...

Today, big business pays 0% taxation through loopholes. In fact some get back millions.

It's funny to watch the "I'm scared of oppression" people oppress others.

It's 2015 kids.
 
There is nothing more upsetting to politics than poor people who think they are poor because of taxation. They join the Right Wing instantly because they are only poor due to taxation, not because of life decisions.

The Right Wing paints a picture that poor people are only poor because of taxation and welfare.

"there are currently 13 Fortune 500 companies that don't pay taxes"!!

I know. You hate taxes because you are poor and don't understand that you wouldn't have to pay so much if a fortune500 had to pay their own...
 
Divergent said:
Today, big business pays 0% taxation through loopholes. In fact some get back millions.

It's funny to watch the "I'm scared of oppression" people oppress others.

It's 2015 kids.
Click to expand...

well what they're "oppressed" by is democracy, the majority of the people in the USA want a different economic system, but that doesn't matter to them...... it is cute though when one of them tries to do math like the OP "if you add the total income of this group, it doesn't equal the debt" lol when the entire debt was created by the bush tax cuts and the iraq war, it was the first time any nation in world history did not raise taxes before going into a major war. Not only did bush not raise taxes he cut them (mostly for the wealthy). This was because of the supply side economics myth that also caused the massive deregulation leading to the '08 recession.
 
I'm sure you'll ignore that universal healthcare actually saves money, while Bernie is well aware taxes will increase on the middle class. Stupid thread. :roll:
 
dimensionallava said:
plenty of other countries do it why can't america?
Click to expand...

One reason is because America spends all this money on defense that European countries don't have to spend because America is defending them. Or at least we were.
 
David_N said:
I'm sure you'll ignore that universal healthcare actually saves money, while Bernie is well aware taxes will increase on the middle class. Stupid thread. :roll:
Click to expand...

Saves money. Heh. What a crock.

Take what Democrats think a health program will cost and multiply it by 10. Then you'll have something close to the true cost, at least in the first decade. It gets worse after that, going by what happened to Medicare.
 
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