When collectively, we pay our Final Net Tax, the rich:
1. Pay a exceedingly in flood proportion of the complete burden,
2. Pay an as high final monetary unit magnitude.
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Credits, deductions, subsidies or any form of markdown on the way to that Final Net Tax permit for monolithic deceit, particularly by Democratic politicians, and most Democratic constituents, who continually engage in voluntary delusion.
The core class, from $30,122 and up, does not undergo at the keeping of the well-heeled. It does undergo at the hands of big governing body and its supporters.
Most Democratic politicians and their constituents, are advocates of big command and distribution. They deduce on a equal basis, that the well-heeled are getting something through with the government, as but government has its own sponsorship.
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When upper set taxpayers dull their Final Net Tax, taking lawful list and deductions, they not moving peapod out a hazard at the end of all year. Leftists speciously spawn references to how a great deal the well-off get at the disbursement of the destitute and in-between standing.
There is nothing justice to this.
Example. (Wealthy) taxpayer A, is individual and has $500,000 of complete wealth.
(Wealthy) gets acknowledgement totaling $15,000, for automotive vehicle expense, entertaining clients and an IRA. This leaves $485,000 of dutiable income, before getting to his itemized deductions.
(Wealthy) next has $100,000 of itemized deductions, which brings his taxable income to $375,000.
His Final Net Tax, is over and done with $100,000.
No matter what acknowledgement or deductions he received, toward the achievement of his tax return, his Final Net Tax, of $100,000 plus, is a \\"payment\\", and a sharp one . He was given 0, nothing, zero.
This is his gift for financial gain taxes only, he stationary has all the others.
130 million tax returns were filed for the time period 2004, the up-to-the-minute period of at your disposal IRS statistics.
89 million of these are net taxpayers who foot the measure. The remaining 41 million had no Final Net Tax. Millions of these in truth received exchange done the defectively misnamed Earned Income Tax Credit, (EITC). Money was given to (EITC) recipients from the taxes stipendiary by those near high incomes. It plant set to recipients but not up to taxpayers above them.
The whole amount of return taxes post-free in 2004 was $831 billion.
Dividing those who filed returns, into two halves, top partly and inferior half, we see that the divisional band concerning the high half and demean half starts at $30,122 of AGI-Adjusted Gross Income.
To simplify, there is quite a lot of misreckoning.
1. Top half -AGI from $30,122 and up, paid 96.7 % of the whole or $804 billion.
2. Bottom half -AGI from $30,122 or smaller quantity paid 3.3% of the unqualified or $ 27 billion.
Of that $804 cardinal total, let\\'s commencement near the worst business (in the high partly) and labour our way up, to see who paid-up what.
The Final Net Tax-payment-of all delivery is in parentheses
If you are in the lobby group that attained involving $30,122 and $60,041, in that are 33 million of you and your reward layered ($99 a billion), of the $804 a billion paid.
If you are in the party that earned betwixt $60,041 and $99,112, here are 20 a million of you and your allowance encrusted ($139 cardinal), of the $804 billion compensated.
If you are in the mass that earned linking $99,112 and $137,056, location are 6 ½ million of you and your clearance peritrichous ($92 cardinal) of the $804 cardinal square.
If you are in the crowd that attained involving $137,056 and $328,049, within are 5.2 cardinal of you and your stipend sheathed ($168 a billion) of the $804 a billion compensated.
If you are in the party that earned concluded $328,049, within are 1.3 a million of you and your clearance tiled ($307 cardinal) of the $804 cardinal.
2004 Total Income Taxes Paid=$831 billion
Paid by Top 50%-$804 billion
Paid by Bottom 50% $ 27 billion
Recap: Share of Total Tax Burden Paid By Top 50%
Lowest ---33 cardinal remunerative $ 99 billion
2nd lowest -20 million paying $ 139 billion
Middle--6 ½ a million stipendiary $ 92 billion
2nd best 5.2 a million reply-paid $ 168 billion
Highest 1.3 cardinal compensated $ 307 billion
Total 65 a million reply-paid $ 804 billion
Share of Total Paid By Bottom 50%
65 million cashed $ 27 billion
Total $ 27 billion
We should let our electoral officials know, that deceit, over who pays what, is no longest unexceptionable. If congressmen bear for sophisticated taxes and large government, they should support that defences near proof.
Attacks on those paying a precise graduate measure of the load should stop.
Some try to complicate the above thing by conveyance FICA or \\"payroll taxes\\" into the meeting. That blind must be dealt beside (exposed) singly.