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reformist2

(9,841 posts)

22. But that's to be expected, given typical returns on investments along with inflation.

Thu Oct 18, 2012, 08:30 AM

Oct 2012

Look at it this way: A senior who only paid $500 per year into SS back in the 1970s certainly deserves a lot more than $500 per year now in benefits....

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RW friend says "Top 10% pay 70% of all taxes, taking care of that 47%." True? [View all] Shanti Mama Oct 2012 OP

Here's an article for you. Skidmore Oct 2012 #1

Historically, higher taxes on the rich have correlated to higher growth. Ichingcarpenter Oct 2012 #2

It's actually not counterintuitive n2doc Oct 2012 #32

Exactly! And small business men/women... WhaTHellsgoingonhere Oct 2012 #37

They own about 70% safeinOhio Oct 2012 #3

Thought the percentage was closer to 85% Doremus Oct 2012 #63

more or less true re income taxes but not "all" taxes. HiPointDem Oct 2012 #4

The top 10% is a misleading metric BainsBane Oct 2012 #5

They have over 90% of the wealth B Calm Oct 2012 #6

The top 20% hold 87.7% of the wealth. renie408 Oct 2012 #15

As a result the top 20% should pay 87.7% in taxes IMHO NotThisTime Oct 2012 #45

At the very least Generic Brad Oct 2012 #55

IMO that suggests they're getting paid too much CJCRANE Oct 2012 #7

Bingo! nt Xipe Totec Oct 2012 #9

Sounds just horrible and unfair King_Klonopin Oct 2012 #8

My way of thinking on this anymore BootinUp Oct 2012 #10

Actual data econoclast Oct 2012 #11

nicely done hfojvt Oct 2012 #52

The top 10% get 90% of the money lunatica Oct 2012 #12

I have tried to track this but if you go back a few years it was "95% of taxes" underpants Oct 2012 #13

Actually just the reverse econoclast Oct 2012 #17

The latest figures there are 2007... Spider Jerusalem Oct 2012 #42

Yes and no. It's only true if we're talking exclusively the federal income tax rates. Selatius Oct 2012 #14

People on Social Security paid into the system, aren't "taken care of" by the Top 10% at all. reformist2 Oct 2012 #16

Most get back more than paid in econoclast Oct 2012 #18

But that's to be expected, given typical returns on investments along with inflation. reformist2 Oct 2012 #22

Guess what? That would include THE TOP 10% ESPECIALLY. WinkyDink Oct 2012 #28

if you look at their figures, it's low-earners who get more than they pay in. HiPointDem Oct 2012 #62

"If you look at" the system, you'll see that low-earners get taxed on all their income, whereas THE WinkyDink Oct 2012 #65

I understand the system just fine, thanks. The fact of the cap has nothing to do with how much HiPointDem Oct 2012 #67

None of that is paid from income tax revenue. Warren Stupidity Oct 2012 #30

it clearly says that for those who retire starting in 2010, median or higher earners will HiPointDem Oct 2012 #61

If you handle your own retirement like the repukes want us to Doremus Oct 2012 #68

The 47% pay taxes. Many are retirees who paid into SS and are now receiving Warren Stupidity Oct 2012 #19

I think it's pretty close to that. sharkman25 Oct 2012 #20

If this is true... RichGirl Oct 2012 #21

The Top 10% benefit from the fact that consumers overpay for products. reformist2 Oct 2012 #23

From the CBO: sharkman25 Oct 2012 #24

You know, WTH would it matter? All it would show is that IT STILL ISN'T ENOUGH. The gap is HISTORIC. WinkyDink Oct 2012 #25

The bottom 60 percent have about 4.2 percent of the wealth ProSense Oct 2012 #26

So the top 10% have 73.1% of the money and pay 70% of the taxes. n/t ieoeja Oct 2012 #40

This is the answer! Hamlette Oct 2012 #44

The top 20% have almost 90% of the wealth gollygee Oct 2012 #27

If I was paid 100% of the income, I'd pay 100% of the taxes. Start from there with your response. stevenleser Oct 2012 #29

Study the link that econoclast gave in #17 Travelman Oct 2012 #31

It's because of the concentration of wealth louis c Oct 2012 #33

Thanks to all. Shanti Mama Oct 2012 #34

Info overload in a very good way. Shanti Mama Oct 2012 #35

Tell her that the 47% include older people on SS, the military, the disabled, and poor children. Dawgs Oct 2012 #36

And that she'd better hope she never gets a brain injury. WinkyDink Oct 2012 #38

In 2007 the top 5% had 37% of AGI and paid 60% of all income tax revenue. hack89 Oct 2012 #39

It is their responsibiltiy to give YOU proof, not that you hassle us for it. slampoet Oct 2012 #41

The truth is that its pretty balanced overall: bhikkhu Oct 2012 #43

Tell her how well this lie nadinbrzezinski Oct 2012 #46

Yeah, well, 93 percent of all financial wealth is controlled by the top 10 percent of the country. Lex Oct 2012 #47

The 1% has hoarded all the wealth so no wonder - TBF Oct 2012 #48

It's like feudal times where the Queen and the Lords owned the country's wealth Lex Oct 2012 #50

It's true that this kind of analysis should be part of the discussion. Kablooie Oct 2012 #49

I'd tell her PD Turk Oct 2012 #51

IF THEY PAID SOME FUCKING DECENT ASS WAGES THEY WOULD NOT HAVE TO TAKE CARE OF ANYONE !!!!! SmileyRose Oct 2012 #53

To all who helped me with this... Shanti Mama Oct 2012 #54

This is all academic horseshit anyway jmowreader Oct 2012 #56

Except for those like mitt who keep their money Cha Oct 2012 #57

I think tax rates should be based on wealth and income. aandegoons Oct 2012 #58

Everyone is stating evidence to the contrary durablend Oct 2012 #59

No. The 47% are paying a higher percentage of their income mmonk Oct 2012 #60

RW friend is an idiot. spanone Oct 2012 #64

Maybe so, but the statement is somewhat true. underoath Oct 2012 #71

Your friend is RW? And you think she knows "facts"? There's your difficulty, right there. WinkyDink Oct 2012 #66

Also remind your friend that most of the 47% magical thyme Oct 2012 #69

Pretty much true. underoath Oct 2012 #70

What is her point? That the 47% should be allowed to starve in the streets? yardwork Oct 2012 #72

It's a fairly simple myth to disprove. 99Forever Oct 2012 #73

So how did your discussion go after this? n/t jtuck004 Oct 2012 #74

In terms of raw dollars, it is close to true hootinholler Oct 2012 #75

Lies, Damn Lies, and Statistics... Blue Idaho Oct 2012 #76