Harrolds.Blogspot.com
Question: If you didn't have to pay taxes for benefits you'd receive from the government, would you vote to retain your incumbent Senator, Congressmen and President who believes in raising taxes or would you vote them out of office preferring instead to have a Congress that supports a Fair or Flat Tax equally levied against all citizens & corporations? -- rfh
Q: What percentage of the U.S. population makes more than $250,000 per year?
A: Roughly one in 50 households will take in more than $250,000 next year. (2008 per http://www.factcheck.org/2008/04/americans-making-more-than-250000/)
A: Roughly one in 50 households will take in more than $250,000 next year. (2008 per http://www.factcheck.org/2008/04/americans-making-more-than-250000/)
Remember in the last Presidential election, when various Presidential hopefuls talked about raising taxes on the wealthy (or argued that raising taxes on those people would hurt small business and job growth?) According to information from the IRS, reported by CNN Money, only 3% of tax returns showed income of more than $200,000 a year. Three percent. .. Whether or not you agree with the politics of raising taxes (or raising revenue, depending on how much vocabulary gymnastics you’re willing to play), the reality is that raising taxes on those earning $200,000 or more only affects 3% of filers. (by by Jim Wang at http://www.bargaineering.com/articles/3-taxpayers-earn-200000.html) [But, look at the percentage that they already pay against the total income tax collection! -- rfh]
By 2019, it is estimated that out of 14.8 million taxpayers — 14.7 million of them will earn less than $200,000 a year. Obama's tax plans would necessarily skyrocket taxes on only 00.1% of taxpayers! (source -- http://biggovernment.com/vderugy/2010/04/15/obama-people-making-less-than-200000-will-see-their-taxes-go-down-right/)
"The middle class is any class of people in the middle of a societal hierarchy. In Weberiansocio-economic terms, the middle class is the broad group of people in contemporary society who fall socio-economicaly between the working class and upper class. A persistent source of confusion surrounding the term "middle class" derives predominantly from there being no set criteria for such a definition. .. From an economic perspective, for example, members of the middle class do not necessarily fall in the middle of a society's income distribution. Instead, middle class salaries tend to be determined by middle class occupations, which in turn are attained by means of middle class values. Thus, individuals who might fall in the middle ground on a societal hierarchy as defined by sociologists do not necessarily fall into a middle ground on an economic hierarchy as defined by economists." -- http://en.wikipedia.org/wiki/Middle_class
Graphs showing income distribution in the U.S.: http://en.wikipedia.org/wiki/File:United_States_Income_Distribution_1947-2007.svg
Forty percent of Americans with family incomes below $20,000 say they're middle class. So do a third of those with incomes of $150,000 or more.. (NPR source).
Who Pays Income Taxes and how much?
Tax Year 2008
Percentiles Ranked by AGI | AGI Threshold on Percentiles | Percentage of Federal Personal Income Tax Paid |
Top 1% | $380,354 | 38.02 |
Top 5% | $159,619 | 58.72 |
Top 10% | $113,799 | 69.94 |
Top 25% | $67,280 | 86.34 |
Top 50% | $33,048 | 97.30 |
Bottom 50% | <$33,048 | 2.7 |
Note: AGI is Adjusted Gross Income -- Source: Internal Revenue Service | ||
It turns out that nearly half of all Americans don't have to pay any federal income tax. In 2009, 47 percent of all filers paid nothing.
47% of households paid no federal income tax for 2009. But only 14% paid neither income nor payroll tax.
Who Doesn't Pay Federal Taxes?
46.4% of Households Will Pay No Federal Income Tax for 2011
But Nearly Two-Thirds of Households
That Will Pay No Income Tax Will Pay Payroll Taxes
Who Will Pay Neither Income Nor Payroll Taxes?
More than half are elderlyOver one-third are nonelderly with income under $20,000Only about 1 in 20 is nonelderly with income over $20,000"HALF of America pays NO [income] taxes. ZERO. So they're happy for tax rates to be raised on the other half ...
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