23 Replies to “The Wealth is Already Spread Enough”

  1. You know, you think the tax rates by income level would go up incrementally, i.e. 10, 11, 20, 25, 33, but why is that not the case?
    Could it be that there are just more people in those income levels, thus increasing the government coffers?
    Reagan is spinning in his grave.

  2. Wait a second…
    These are binned categories, not integrated. See also the note at the bottom.
    Properly stated: Of those whose tax rate is at least 10%, 71% have a tax rate not exceeding 15%. These people pay 21% of all tax generated.
    So, what percentage of people pay no federal tax?

  3. OR;
    71% of the population pays 21% of tax revenue
    (with incomes $61,300 and less)
    guess who pays the remaining 79% tax revenue?

  5. if they took everything the top 10% have, they would not have enough money to run the u.s. government for six months. socialists are idiots .

  6. What these statistics do show is that there is tremendous room for growth in personal income tax in the US. I was explaining this to my American friend RH, and how nice it will be for Obama.
    RH didn’t want to hear …

  7. So the poor and middle class account for 71% of tax returns filed, generating 21% of total revenues for the US govt.
    Exactly how is the Obama-Nation(tm) going to redistribute the wealth?
    This is simply “lipstick on a pig in the poke”.
    I think Obama is trying to flush Joe the Plumber; it ain’t gonna work.
    Cheers
    Hans-Christian Georg Rupprecht, Commander in Chief
    Frankenstein Battalion
    2nd Squadron: Ulanen-(Lancers) Regiment Großherzog Friedrich von Baden(Rheinisches) Nr.7(Saarbrucken)
    Knecht Rupprecht Division
    Hans Corps
    1st Saint Nicolaas Army
    Army Group “True North”

  8. Socialism = what’s yours is mine
    “To alleviate the obvious hardships to both homeowners and banks, the government commits to buy mortgages and inject capital into banks, which on the face of it seems like a very nice thing to do. But unfortunately in this world there is no tooth fairy. And the government doesn’t create anything; it just redistributes. Whenever the government bails someone out of trouble, they always put someone into trouble, plus of course a toll for the troll. Every $100 billion in bailout requires at least $130 billion in taxes, where the $30 billion extra is the cost of getting government involved.
    If you don’t believe me, just watch how Congress and Barney Frank run the banks. If you thought they did a bad job running the post office, Amtrak, Fannie Mae, Freddie Mac and the military, just wait till you see what they’ll do with Wall Street.”

  9. The way that the system is now, it is impossible to cut taxes for anybody but “the rich” without writing checks to people who don’t pay taxes and pretend that they are negative taxes. Happily enough, that is exactly Obama the Marxist’s plan.

  10. Watching the polls at least, it seems to me many Americans are falling for the ruse of the benevolent state and leaning away from individualism to socialism and dependence on government. The entire Democratic platform is centered on these very things, and I might add the McCain ticket isn’t that far off either. It’s disturbing really.

  11. I watched the Biden interview on this site, where he lamented the “richest” 1% got a tax reduction. Typical leftist/socialist rhetoric, and really quite tired. Biden types never bother to mention the “richest” also pay a disproportionate amount of income tax (and surely all other taxes, such as sales and property).
    Oh right, I forgot, the “richest” either inherited the money, are just lucky, or oppressed others to make their money. Nope, they didn’t work hard, take risks with their own money, or save, or anything like that.
    Like I said, quite tired rhetoric. It’s kind of a shame the American people are buying into this sham. When a sociaist tells you they’re going to make the “rich” pay more taxes, they are likely talking about middle class entepreneurs and other professionals who work their a**s off getting to where they are.
    Our very own Jack Layton pulls this switch and bait stunt all the time. He want to tax corporations more heavily, but only talks about oil companies and banks, not the vast majority of corporations that are small businesses.
    The sub prime fiasco is tied into this – socialists push capitalists into poor quality, improper business practices and then, of course, blame the “richest” for the problem.
    The worst hypocrites of all are the champagne socialist like Gore, Kerry, Soros, et al, who, having gained their wealth, now want to put the screws to others.

  12. I’m sure the redistribution will take the form of buying the bad mortgages and then giving away the properties to the poor (many of whom were the ones defaulting on their payments in the first place). 1.Democrats force banks to make mortgages available to low income people.
    2.Low income people default on mortgages.
    3.Democrats force Government to intervene, bailing out banks.
    4.Democrats redistribute property.

  13. *
    “the captain says… The Wealth is Already Spread Enough”
    as is the “save us, saint obama” b.s., but that ain’t gonna
    stop the mindless beatification…
    “take two imbeciles… add beer…”

  16. Everybody sit on yer hands cause Obammie is gonna be the next prez. I am lookin’ forward to seein’ Oprah and Denzel and Jayzee wit’ wat’s her name hangin in da whitehouse. Err, is it gonna be the Whitehouse anymore anybody? Either way it is scary cause most people are votin’ for Obama cause of his dna instead of the veracity of what he is sayin’ damned scary indeed.

  19. “it seems to me many Americans are falling for the ruse of the benevolent state and leaning away from individualism to socialism and dependence on government”
    It’s not that. This election is about the self-destruction of the Republican party. The American people gave them complete control of the government in 2004. Did they get lower spending? No. Did they get entitlement reform? No. Did they get illegal immigration stopped? No. Did George Bush veto one single pork-laden spending bill? No. Did the Republicans do ONE SINGLE CONSERVATIVE THING outside of foreign policy?
    No.
    The Republicans became beltway insiders. They grew addicted to government money, to the influence of lobbyists, to cronyism, everything. They stopped being conservative and mutated into some sort of beast. They failed, and the American people are deserting them. Tragically for America, their only other choice for governing is the Democrats.

  20. Socialism = “everyone is poor together”
    The rich get poor and the poor get poorer.
    Obama’s tax plan of taxing income over $250000 won’t work because the richer you are the better you are at hiding money.
    In Japan for example, they slap at 70% estate tax on the dead. They never see any of that money because the elderly give all their money to their grandkids who use it invent stuff like anime 🙂

  21. tracy makes the best point here (perhaps the only unbiased one, too). Income taxes could be lowered if offshore tax shelters were dealt with.
    This is an issue that both Dems and Reps will stay away from because all of their biggest donators use the shelters. The amount of taxes being avoided is truly alarmin.

  22. 6 easy steps to wealth.
    Step 1. CA firms inflate financial performance.
    Step 2. Investors put in money.
    Step 3. Cash in share performance bonuses.
    Step 4. Take all investors money out of company and go bankrupt.
    Step 5. Shred or fire bomb records.
    Step 6. Make high contribution to judges and politicians campaigns.

  23. I’m sorry if I didn’t read all this drivel but does it really matter if you give the graft to Bubba or Bombardier? What is the real choice here? The Maverick Wall Street Patsy, or the work fare communitarian … I don’t really see the difference in the moral hazard. Actually, I might take my chances with Bubba. 😉 At least you’d could have a beer and jump in his ‘red neck’ pool with him. Trains, Planes and Automobiles is so impersonal …

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