Do the Rich Pay a Lot of Taxes?

Toro

Senate Member
Yes, very much so, according to a paper by the Tax Foundation.

America’s lowest-earning one-fifth of households receives roughly $8.21 in government spending for each dollar of taxes paid. Households with middle-incomes receive $1.30 per tax dollar, and America’s highest-earning households receive $0.41 per tax dollar.






 

Kreskin

Doctor of Thinkology
Feb 23, 2006
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Yeah. I believe the richest 10% of Canadians pay more than 50% if the personal income tax collected by the gov't. I would imagine they also pay their fair share of provincial and GST taxes (among others), as well.

They often pay double. In BC any house purchase is 1% provincial tax to 200k and 2% thereafter.
 

tamarin

House Member
Jun 12, 2006
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It's certainly agreed that the poor benefit substantially from redistribution. However, that category of $99 000 plus is as wide as the Atlantic. Do you have stats on the millionaire club and their better heeled brothers? To get a better grasp of the issue it's likely that percentage of real income paid in taxes is probably a better indicator than lump sum comparisons for all groupings.
 

gopher

Hall of Fame Member
Jun 26, 2005
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The Tax Foundation? Joseph O. Luby of Exxon is a member of its board and he fails to mention the billions in subsidies and other forms of welfare corporations receive.
 

Toro

Senate Member
It's certainly agreed that the poor benefit substantially from redistribution. However, that category of $99 000 plus is as wide as the Atlantic. Do you have stats on the millionaire club and their better heeled brothers? To get a better grasp of the issue it's likely that percentage of real income paid in taxes is probably a better indicator than lump sum comparisons for all groupings.

I had read somewhere that the top 1% of earners pay 25%-30% of all taxes.
 

gopher

Hall of Fame Member
Jun 26, 2005
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I have done so on other threads. It is a topic that keeps coming up on this forum for some reason so I decided against re-posting all of my earlier links.
 

tamarin

House Member
Jun 12, 2006
3,197
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What the rich should face is onerous estate taxes. The money accrued by various robber barons was never earned by their kids. Let the kiddies have no more than a hundred grand each and let the rest be put into general accounts. The feds and provinces and municipalities can work out their share. Various charities can expect a dividend as well but percentages will have to be vetted before legislation is passed.
 

Curiosity

Senate Member
Jul 30, 2005
7,326
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California
Well Gopher.... I don't know the answers ... I was asking you...

I think Buffett and Gates are trying to purchase Africa in their charitable tax breaks...

Soros is trying to buy the U.S.A. (is that a tax break?)

Is this cool?
 

jimmoyer

jimmoyer
Apr 3, 2005
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www.contactcorp.net
Income group % of federal personalincome taxes paid
............................................1990.. ........2002
50% with lowest incomes..............6.7%..........4.4%
40% with intermediate incomes.....47.3%........43.0%
10% with highest incomes............46.0%........52.6%

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Instead of not believing the above stats or pushing the idea that the rich don't pay
enough or that the rich don't pay other types of taxes (which is a myth) why not consider
that the above stats are a double edge sword --- they indicate four things:

1. the rich really are paying the lion's share of taxes, not just income taxes
2. this picture really shows how lopsided the distribution of wealth is
3. begs the question on what is fair and who is worthy
4. begs the question on whether you compare the wealth inequality of today
with how everyone was doing as a whole in the past : in other words did all boats
rise from the lower levels of the past ?
 

Curiosity

Senate Member
Jul 30, 2005
7,326
138
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California
JimMoyer

Personally I'd still rather operate on an incentive basis with charitable attachment than equal distribution of wealth because humans couldn't function with that kind of equality and everyone
would stop working....and the economy would hit the deep end.

Every man for himself kind of gives an incentive to succeed which in turn breeds a vibrant style
of economic wealth.
 

jimmoyer

jimmoyer
Apr 3, 2005
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Winchester Virginia
www.contactcorp.net
I agree with you Curiosity.

However the liberal left is correct about its general distrust. For example, had the capitalists and the rich in Venezuela been much more charitable and caring
then capitalism would not look
like the rape it seems to the ever popular Hugo Chavez grandstanding all his
re-distribution socialist schemes.