Do you believe the Tax lies?

This article: http://www.taxfoundation.org/news/show/250.html has been quoted to death, especially this line: "The top 1 percent of taxpayers (AGI over $388,806) earned approximately 22.1 percent of the nation's income (as defined by AGI), yet paid 39.9 percent of all federal income taxes." The problem with the quote is best described as lying with statistics, which is easy since most of us don't have a clue about numbers. The problem with the quote is that the article clearly states "individual tax filers", as if those returns represent the highest income. They don't. The highest income earners file many tax returns on various corporations, LLC's, partnershipts, and trusts that they control. For example, a local billionaire owner of car dealerships Ernie Boch Jr, in Massachusetts says "The only thing I own, in my own name, is a 1972 MG". So, his personal tax return is a tiny fraction of his total wealth. People like Rush Limbaugh drum these mis-quotes to death also, whining about how much "the rich" pay in taxes. He then goes on to quote half truths from articles like the above. The truth is that the wealthiest %1 are not represented in the above article. Only the top %1 of INDIVIDUAL filers. Most of those people are in the 200k to 400k range. Looking at incomes of people like Treasury Secretary Paulson, who made about 500 billion dollars over the past 8 years or so, 200k to 400k is not anywhere near "rich". OK so what is the point? Fair tax. The real top %1 wealthiest people in our country don't pay taxes. The top %10 of INDIVIDUAL tax filers get screwed out of paying what they don't pay. That is completely unfair, and unconstitutional. And it certainly helps creat tax cheats, doesn't it? Who wants to pay %40 to %50 in real taxes, while people making 10 or 100 or 1000 times what they make, pay nothing? Anyone else notice the nonsense? Its a typ'o, pznbob, thanks for the note: http://www.forbes.com/lists/2006/12/VY36.html Its 50 million, not 50 billion. SORREE. Pznbob: re: "Those ultra rich are nearly all democrats, by the way." OK, thanks for the note, could you post some links? It doesn't sound remotely true! Are you saying that the richest people that supported George W Bush's tax law changes are mostly democrats? Really? Крис: where's the conspiracy? Its basic lying that we're talking about. The top %1 wealthiest people are not the top %1 of individual filers. We're talking about different groups! Here's the point: people like Rush limbaugh say that the top %1 pay all of the taxes, and its not true. The top %1 of individual filers pay all of the taxes. Not the top %1 most wealthy people, since they all file as corporations, trusts, and partnerships. Their 30 million dollar homes, private jets, all that stuff are held in corporations, and trusts. But Rush wants us to think that those people pay too much in taxes, which is horse manure. Remember the whole gross argument came up with Obama was running for president, and said he would make the tax laws more fair, and McCain fell off his chair to say he wanted "to keep taxes low". Well MY taxes sure as hell aren't low,and Im far, far from a 50 million dollar a year CEO. The whole thing is a sham, a lie. Not a conspiracy.

Public Comments

1. it seems pretty easy to lie with statistics, to skew their message and results.
2. This can all be followed back to 1913. When you sit back and look at *it* as a whole, you have to appreciate the beauty. Bull, ABSOLUTELY, brilliant robbery, yes
3. Yeah, I noticed your nonsense, lol. You say Paulson individually made half a trillion $ in income last 8 years? Hello? That would make him the richest 40 to 70 people in the entire world or so, just on the last 8 years income, lol. That corporations are not made of thousands of small investors? ... but are a human being and their total profit should be counted as one persons income? Hello? Do you understand that corporations are taxed on income, and then the individual investors are also EACH taxed on the increase they make if any? It's called double taxation, and the US is nearly the worst at this stupid job killing policy. You really need a new hobby, you REALLY don't understand this economic stuff. The most rich people in the country are not the ones creating wealth and making an income, and they don't get taxed on what they have. Those ultra rich are nearly all democrats, by the way.
4. Good point. About five percent of the people control 60% of the wealth and receive 70% of the income in any given year. They pay less than 5% of the taxes. To make matters worse, 75% of your tax dollar is stolen right off the top and diverted eventually to people like the Carlyle Group.
5. It is both accurate and knowingly misleading, since most people when they think about the top 1% wealth earners, they are thinking about corporations making billions, not a few individuals. If you strip away the businesses and only focus on individuals, the upper 1% incomes fall significantly. Now if you add the huge family owned multinational conglomerates, you end up with a 1% of wealth earners that make far more than only 6 figures. This is a typical right-wing think -tank tactic in order to appear to be non-partisan but support a pro-corporate agenda at the same time. Some of the people with the highest incomes, also file as corporations, so they can gain certain benefits that come with incorporation, such as reduced personal liability. Then of course, you have to also exclude the multinationals that pay no taxes. Warren Buffet claims he pays less in taxes, as a percentage of each dollar earned, than the people that work for him. But it doesn't really matter, because even if the upper 1% was only paying half a percent in taxes, they would still be crying that they pay too much, and their appologists would be saying the same thing..
6. Well all personal income taxes on labor are unconstitutional. All direct taxes must be apportioned and all indirect taxes must be uniformed. But try telling that to Washington DC. Income tax is a way for gov't to control society by re-distributing wealth via taxation. Hence why it is unconstitutional.
7. Argueing over income taxes is like haggling over stolen goods Corporations and individuals should be taxed on the fruits of their labor, not the labor itself, laborers make no profit from the goods they produce, only the corporations and people in business for themselves should be taxed, this done with a simple sales tax
8. right on right on right on. yes many do notice it but there are too many people that really do believe people like Rush Limbaugh.
9. Another conspiracy theorist.
10. Another thing that I notice creeping up on the Republicans is the inability to have a decent tax base. I think deficit spending and massive expenditure is about to hit the fan because the top 10% don't pay their share in taxes and our income inequality (according to GINI index) has been increasing since Reagan's day. If our inequality keeps getting bigger and bigger, you will not have a middle class to compensate for the top earners dodging taxes. The Republicans are in denial about this and wish to continue our spendy foreign policy yet not come to terms with our increasing inablity to pay for it. Another thing worth noting is that you kind of wonder where the Republicans get the idea that the reason companies are going overseas is to save on tax money. How can they save on tax money when our current tax policy caters to them? They use this excuse to cover up the fact that education has digressed in this country for quite some time.. and productive labor can be found elsewhere.