The Soapbox

BocaHoo91

Joined: 06/03/2005 Posts: 30882
Likes: 52086


The disproportionate burden is NOT on the middle class at all


Effective Federal Income tax rates:

Lowest Quintile.....-11%
2nd Quintile...........-1%
Middle Quintile.......3%
4th Quintile.............7%
Top Quintile............16%
Top 1%...................24%
All Quintiles.............10%

"Wait, the middle class also pays medicare and social security taxes" you say...? Sure, but they also get a medicare benefit that is 3-4x what they pay in, and they also get a SS benefit that is subsidized by... you guessed it, high earners.

Still, if you want to look at all federal taxes (while ignoring the subsidized benefits that the middle class gets), here you go:

Lowest Quintile.....2%
2nd Quintile...........9%
Middle Quintile......14%
4th Quintile............18%
Top Quintile............27%
Top 1%...................33%
All Quintiles............21%

So even if you include ALL federal taxes (income, payroll, excise, etc), the top 1% pays taxes at a rate that is almost 2.5x that of the middle quintile. For just income taxes, the top 1%'s burden is 8x that of the middle quintile.

You can argue that the rich SHOULD pay more as a percent and their income (and I'd agree), but to argue that "the disproportionate tax burden falls on the squeezed middle class" is to either ignore the facts, or to ignore the meaning of the word "disproportionate"



(In response to this post by Seattle .Hoo)

Link: https://www.taxpolicycenter.org/statistics/historical-average-federal-tax-rates-all-households


Posted: 11/18/2019 at 09:33AM



+1

Insert a Link

Enter the title of the link here:


Enter the full web address of the link here -- include the "http://" part:


Current Thread:
 
  
Wait, so Warren's billionaire tax is now up to 6%. So -- BocaHoo91 11/18/2019 07:13AM
  You seem to be missing quite a bit here. -- WahooRQ 11/18/2019 09:22AM
  This attitude has always made me laugh. -- SchmHoo 11/18/2019 2:37PM
  Yeah, you’re right. Bernie getting saying -- BocaHoo91 11/18/2019 4:21PM
  Your complaint should be with the Bern and Warren. -- hoolstoptheheels 11/18/2019 3:22PM
  That’s certainly the narrative. ** -- SchmHoo 11/18/2019 3:32PM
  It isn't a false narrative. Bern actually posted that. -- hoolstoptheheels 11/18/2019 4:09PM
  Nobody thinks Warren has really covered the cost of her plan(s). -- hoolstoptheheels 11/18/2019 09:59AM
  Imposed Medicare for all is a bad political -- Shenhoo 11/18/2019 09:15AM
  Does that come close to paying for it? ** -- Tuckahokie 11/18/2019 09:06AM
  We spend far beyond what the rich make and have ** -- HokieDan95 11/18/2019 08:21AM
  WaxHoo can't wait to STAND WITH HER. ** -- HootiesJohnson 11/18/2019 08:17AM
  "Stands With Fist" ** -- Tuckahokie 11/18/2019 08:25AM
  What hyperbole are you referring to? ** -- BocaHoo91 11/18/2019 08:00AM
  Correct - it is tapping a populist vein. -- hoolstoptheheels 11/18/2019 08:19AM
  Mostly, the complexity of the tax code itself favors the rich. -- hoolstoptheheels 11/18/2019 08:38AM
  Those things are the tip of the iceberg. -- hoolstoptheheels 11/18/2019 1:19PM
  See mundane system reforms. :) ** -- Seattle .Hoo 11/18/2019 08:40AM
  Unfortunately, I agree. ** -- HoosWillWin 11/18/2019 07:45AM
  Yes. 6% of wealth. Plus 39.6% on any -- BocaHoo91 11/18/2019 07:39AM
  Ooops - forgot the link. Included here. -- hoolstoptheheels 11/18/2019 08:13AM
  CNBC discussed this this morning... -- Stimp 11/18/2019 09:17AM
  That's what triggered my post. -- BocaHoo91 11/18/2019 09:59AM
  Hmm. I guess she needs a new campaign site webmaster. ** -- hoolstoptheheels 11/18/2019 08:47AM
  What changes the argument? I don’t follow. ** -- BocaHoo91 11/18/2019 07:58AM
  I wasn't aware she was taxing wealth. ** -- HoosWillWin 11/18/2019 08:05AM

Notice: Trying to get property 'queue' of non-object in /data/www/sportswar.com/wp-includes/script-loader.php on line 2781

Warning: Invalid argument supplied for foreach() in /data/www/sportswar.com/wp-includes/script-loader.php on line 2781
vm307