Top 1% of earners pay 36.7% of federal tax!

I have just about had it with this whole occupy wall street thing.
So much of their argument is based on missing or false data.
A friend that I grew up with owns a body shop. He went to vocational school for auto body and has done well for himself over the years. He has 5-8 employees depending on his workload.
After High school he worked in a body shop and fixed dents on the side. He saved every penny he earned. And drove an old work van.
He managed to buy equipment piece meal and store it. Finally he rented a building and moved in. He stayed on at his employer and worked in his own shop at night and weekends. After a few years he left his employer and never looked back.
This guy has far more energy than most people,he will work 12 hours then go to the gym. He employs people who like himself pay taxes.
So somebody please tell me why this man should pay more taxes? Why punish the most productive among us?

Such a punishment to pay the same tax rate as we did in 1999.

Top 1% pay 36.7% of federal tax. Just what part of lopsided don't you understand?
Maybe some math tutoring from Haruko57 is needed?

The Man wrote:

Top 1% pay 36.7% of federal tax. Just what part of lopsided don't you understand?
Maybe some math tutoring from Haruko57 is needed?

So your friend is in the top 1% of earners?

We really need to get more money from the poor, elderly and disabled. The top 1% also earn about 24% of all income. Thats as much as about 75,000,000 Americans. Or more than the entire bottom 50%, their income has tripled since the 70's while the working mans wages remain stagnet in that same time period.

The omission of other taxes makes your argument moot. People who don't pay federal income tax still pay payroll taxes.

So I guess you're also in the top 1% as well. If not you're like those morons from a few years ago protesting the inheritance tax which they changed the name to the death tax. Those idiots will never inherit enough money that the tax would even kick in, but they're out there protesting and voting against their own interests. Oh no IRS don't tax people that can afford to pay a little more, squeeze it out of the little guy.

How about cutting spending? Did it ever dawn on you that borrowing more money isn't the answer but is much of the problem? We as a nation are broke. There just isn't enough money that can be raised through taxes to get out of this mess.
If you divide the total federal debt some 15+ trillion by the population lets round it down a little and make it 300 million guess what?
Every man woman and childs share of the debt is over $40,000. But wait not every person has a job and pays into the system. So every wage earners share is closer to $100,000.
Much of out tax money is paying interest on debt. It isn't building schools,fixing bridges or creating jobs that those things will. It is just paying some off shore bank,

You raise taxes on business owners and all they do is raise the price of their product or service, so in reality the owner is paying more taxes, we the consumer are!!!!!!!So your friend can suck my crank and pay the back taxes he owes when he had his business on the side while he still worked at his previous job, I hope the IRS rapes his ass like a newbie in a cell block!

*isn't

The Man wrote:

I have just about had it with this whole occupy wall street thing.
So much of their argument is based on missing or false data.
A friend that I grew up with owns a body shop. He went to vocational school for auto body and has done well for himself over the years. He has 5-8 employees depending on his workload.
After High school he worked in a body shop and fixed dents on the side. He saved every penny he earned. And drove an old work van.
He managed to buy equipment piece meal and store it. Finally he rented a building and moved in. He stayed on at his employer and worked in his own shop at night and weekends. After a few years he left his employer and never looked back.
This guy has far more energy than most people,he will work 12 hours then go to the gym. He employs people who like himself pay taxes.
So somebody please tell me why this man should pay more taxes? Why punish the most productive among us?

We have a Marxist for a Sleazy Preeezy of The United Steeezy .It's riddled all through his many speeches how marxist he is,it's an all out frontal attack on Capitalism from a devout Marxist.He showed us his intent with Joe the plumber....Practically every speach this FOOL doese is based on Class warefare or spreading the wealth,giving people a fare shoot,investing in Green jobs ,that are headed up by devout Marxist, and radicles like Bill Aryes,Van Jones ect....It's not the Government's job to take tax money, and invest in these so called private enterprise, like Obama has done.And all these enterprises have failed,like I hope He does come election DAY!!!!.....We"ll have to get a huge clean up team ,to clean up the mess,that this FOOL has done to US....

Pauly wrote:

You raise taxes on business owners and all they do is raise the price of their product or service, so in reality the owner is paying more taxes, we the consumer are!!!!!!!So your friend can suck my crank and pay the back taxes he owes when he had his business on the side while he still worked at his previous job, I hope the IRS rapes his ass like a newbie in a cell block!

Do you have any proof that he owes back taxes?

enemy combatant wrote:

<quoted text>
So your friend is in the top 1% of earners?
We really need to get more money from the poor, elderly and disabled. The top 1% also earn about 24% of all income. Thats as much as about 75,000,000 Americans. Or more than the entire bottom 50%, their income has tripled since the 70's while the working mans wages remain stagnet in that same time period.
The omission of other taxes makes your argument moot. People who don't pay federal income tax still pay payroll taxes.
So I guess you're also in the top 1% as well. If not you're like those morons from a few years ago protesting the inheritance tax which they changed the name to the death tax. Those idiots will never inherit enough money that the tax would even kick in, but they're out there protesting and voting against their own interests. Oh no IRS don't tax people that can afford to pay a little more, squeeze it out of the little guy.

And just where did I say he was in the top 1% of wage earners?
Just where did I say I was in the top 1% of wage earners?
If you raise the taxes on the rich there will be consequences. They will lay off workers,raise the prices of goods they sell etc.
The answer just may be to lower government spending and not raise anyones taxes.

The Man wrote:

<quoted text>
Do you have any proof that he owes back taxes?

Who are you trying to fool, we all know he didn't pay taxes on his side gig.

I dons think black folk sbould pay any taxes you owes us.

The Man wrote:

How about cutting spending? Did it ever dawn on you that borrowing more money isn't the answer but is much of the problem? We as a nation are broke. There just isn't enough money that can be raised through taxes to get out of this mess.
If you divide the total federal debt some 15+ trillion by the population lets round it down a little and make it 300 million guess what?
Every man woman and childs share of the debt is over $40,000. But wait not every person has a job and pays into the system. So every wage earners share is closer to $100,000.
Much of out tax money is paying interest on debt. It isn't building schools,fixing bridges or creating jobs that those things will. It is just paying some off shore bank,

And just where do you cut?

The Man wrote:

<quoted text>
And just where did I say he was in the top 1% of wage earners?
Just where did I say I was in the top 1% of wage earners?
If you raise the taxes on the rich there will be consequences. They will lay off workers,raise the prices of goods they sell etc.
The answer just may be to lower government spending and not raise anyones taxes.

You intimated that raising taxes on the top 1% will impact your friend since this is the topic here. If not then y bring him up. I assumed u must be in the top 1% since you care so much that they don't pay the same tax rate they did under Clinton. You make it sound like it will personally impact you.
As for consequences of raising taxes on the rich I can only laugh. Companies are sitting on trillions and aren't hiring. We had low unemployment under Clinton and the rich paid higher taxes. They didn't lay off workers and raise prices when he raised taxes. They still got richer. What u say are the republican talking points and nothing more. Reagan would be a left wing liberal compared to this bunch. They got everyone convinced that raising taxes is evil but saint Reagan did it over and over.

Lower govt spending. Ok what would you like to cut? Shall we abandon the poor, elderly and disabled or contribute to high unemployment by cutting federal jobs? Federal employment is down under Obama which is the first time that has happened in an economic crisis. This I hamstringing the recovery just like republicans want.

No and no! Just because I discuss a topic doesn't mean it will have a direct impact upon me.
I just have a belief in the free market system.
"Companies are sitting on trillions and not hiring." And your point is? Should all companies just hire people if they have excess capital? That would be a company that wouldn't be around very long.
How about if a company could operate at lower costs? Say it could sell it's widgets for $1.79 rather than $1.99? Wouldn't they be able to sell more widgets? Hire more people to make widgets? Then those mew employees could spend income and pay taxes? Wouldn't that be a good thing?

The Man wrote:

No and no! Just because I discuss a topic doesn't mean it will have a direct impact upon me.
I just have a belief in the free market system.
"Companies are sitting on trillions and not hiring." And your point is? Should all companies just hire people if they have excess capital? That would be a company that wouldn't be around very long.
How about if a company could operate at lower costs? Say it could sell it's widgets for $1.79 rather than $1.99? Wouldn't they be able to sell more widgets? Hire more people to make widgets? Then those mew employees could spend income and pay taxes? Wouldn't that be a good thing?

It's funny u start a topic tell a story and low and behold the topic and the story have nothing to do with each other. Shame on me for adding 2 and 2.

Ok bud u keep waiting on companies to lower prices. Should be anytime now

How about we all march down Tom Brown Rd. in Moorestown with pitchforks and torches. Would that make you happy?

enemy combatant wrote:

<quoted text>
It's funny u start a topic tell a story and low and behold the topic and the story have nothing to do with each other. Shame on me for adding 2 and 2.
Ok bud u keep waiting on companies to lower prices. Should be anytime now

you mean like the big screen tv's that cost $3500 a few years back. Tou have not a clue about the topic

Gas prices are dropping,but perhaps you take the bus and haven't noticed?

bill wrote:

<quoted text>
you mean like the big screen tv's that cost $3500 a few years back. Tou have not a clue about the topic

They still cost 3500 dopey. Guess you should look somewhere other than wal mart. The top of the line Led LCD cost Upwards of 6000. Looks as if it's you who has no clue