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There was an interesting experiment in MA
recently where they amended their tax returns to include the option
of paying more voluntarily. Slightly more than 300 people chose
to pay more and kerry was not one of them.
Depending upon what statistician you choose
to believe we already spend over 2/3 of our budget on entitlement
programs. For those who believe that is not enough, well, you can
always put your money where your mouth is.
From: "Dan Goncharoff" <<A
href="">TheGonch@xxxx>
Date: Sun Aug 8, 2004 4:02 pm
Subject: Re: [RT] Fwd: Bond and S&P update - $18
crude oil
So far, of course, the conversation is looking at only the federal
income tax, which is a very progressive tax. If we looked at the payroll
tax, for example, we find that the top 1 percent of Americans pay a far
smaller % of their income in payroll tax than the average citizen does,
because of the cap. The same is true for state and local sales taxes, and
most use taxes.BTW, that top 10% that pay two-thirds (actually
slightly less) of all taxes makes 43% of all income, and over 50% of all
income earned by people who earn over $28k. And, again, this is the most
progressive tax. If you bring in the burden of other taxes, starting with
the payroll tax, the percentages even out even
more.RegardsDanG
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
BobsKC
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Sunday, August 08, 2004 2:31
PM
Subject: Re: [RT] Fwd: Bond and S&P
update - $18 crude oil
You're right .. I had the figures wrong but the real figures
are none the less striking. The information below is from the ABC News
site. "But let's remember the facts: the top 1 percent of Americans,
those who earn more than about $300,000,a year, pay 34 percent, more than a
third of all income taxes, and the top 5 percent, those making over $125,000,
pay more than half" Source: <A
href=""
eudora="autourl">http://abcnews.go.com/sections/2020/2020/myths_john_stossel_040123-6.htmlAnd
another web site that states:"He pointed out that the top
1 percent of Americans by income pay a third of all the income taxes
collected. The top 10 percent pay two-thirds of all income taxes. That means
that 90 percent of the taxpayers collectively pay only a third of the total
income tax bill each year".Source: <A
href=""
eudora="autourl">http://www.zwire.com/site/news.cfm?newsid=12405565&BRD=1012&PAG=461&dept_id=141549&rfi=<A
href=""
eudora="autourl">6It appears my "few percent" is more like
10% and the total is not 86% but 67% but still
interesting.Bob At 02:38 PM 8/8/2004 -0400, you
wrote:
"if the top few percent pay
something in the neighborhood of 86% of all the income taxes". Of
course, they don't, so none of the rest of your statement
follows.
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