I respect your opinions immensely, Jim. But I disagree on this subject. The numbers are pretty easy to find. I believe the Pew Research Center is nonpartisan like they claim.
According to them,
People reporting over $250,000 income filed 2.7% of the returns filed. They paid 51.6% of income taxes paid to the government. Their average tax rate was 25.7%. That group will include a lot of posters here.
People reporting less than $50,000 income filed 62.3% of the returns filed. They paid 5.7% of income taxes paid to the government. Their average tax rate was 4.3%.
Those in the middle, between $50,000 and $250,000 filed 35% of the returns and paid 42.7% of income taxes.
So the top 3% paid over half the taxes. The next 35% paid 42% of the taxes, and a the bottom 62% paid less than 6% of total taxes.
If you try to stimulate the economy it is pretty hard to give money to 62% of the population. A lot of them already get tax refunds in excess of their withholding. Giving them more doesn't do much but bring more consumer goods from China.
If you look at all people reporting over $100,000 per year, that is 16% of the filers, and they paid 79.4% of income taxes. If you make over $100,000 per year are you rich? I think lots of folks making a little over $100,000 per year are seeing a tax cut.
Upload one or more videos to your post. Photo and video filesizes should be less than 8MB. Formats allowed are gif, jpg, png, ogg, mp4, mov, and avi. Be sure to use filenames without spaces or special characters, and filetypes of 3 digits lower case.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - Third Brush Generators - by Chris Pratt. While I love straightening sheet metal, cleaning, and painting old tractors, I use every excuse to avoid working on the on the electrics. I find the whole process sheer mystery. I have picked up and attempted to read every auto and farm electrics book with no improvement in the situation. They all seem to start with a chapter entitled "Theory of Electricity". After a few paragraphs I usually close the book and go back to banging out dents. A good friend and I were recently discussing our tractor electrical systems when he stated "I figure it all comes back to applying Ohms Law". At this point
... [Read Article]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
