Happy Tax Day! 72% Of Individual Filer Taxes Paid By Those Earning $100k Plus

That’s right, campers, today is the last day to file your taxes. Have you done it?

(CNS News) Taxpayers earning $100,000 or more a year pay 71.6% of the nation’s share in individual federal income taxes, according to the latest data from the Internal Revenue Service (IRS) from 2011.

These data do not include corporate income taxes, or taxes on capital gains or dividends, or payroll taxes for Social Security and other programs.

In 2011, according to the IRS, there were 145,370,240 individual income tax returns filed. Among those returns, 125,914,418 or 86.6%, belonged to taxpayers earning a salary less than $100,000. The remaining 19,455,822 returns belonged to those taxpayers earning more than $100,000, or 13.4% of the total.

While those top earners, earning six figures or more, represented only 13.4% of the total number of individual income tax returns reported to the IRS, they contributed nearly three-fourths of the total amount of federal  tax revenue from individual filers reported for that year.

In 1996 the figure was 51%. Of course, Taker Nation thinks that’s not enough, as Liberals constantly complain that the taxes for “the rich” need to be raised. Funny thing is, these same liberals who are part of “the rich” refuse to pay extra themselves. Look at Mr. Obama: despite being a class warrior and constantly calling for “the rich” to pay their fair share, he and the Mrs. only paid an effective rate of 20.4%. The Obama’s took advantage of every tax “loophole” to minimize their federal tax burden.

52% say they pay too much in taxes, 42% say the taxes are about right. Switching to state taxation, funny thing is, the states with the highest number complaining about state taxes being too high are….mostly Democrat states. Those with the least complaining are mostly Republican states. Americans think the government wastes 50 cents for every dollar they take (which is down from 60 cents in September 2013.)

Fortunately, more and more Obamacare taxes will start kicking in over the next few years.

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16 Comments

Comment by Jeffery
2014-04-15 09:22:43

Wealthy liberals advocating tax reform would be subject to the same laws as everyone.

If your point is that we should make the tax system more fair and insure that the wealthy pay their fair share too, I agree. Why do we tax capital gains at so low a rate compared to wages? One victim of the conservative mantra in cutting spending is reduced IRS enforcement of tax laws. Who do you think cheat on taxes more: the working poor with their W-2 or the complex fiscal gymnastics of an Obama, Romney or Walton?

The types of analyses you describe always ignore the other 40% of Federal revenues, the regressive payroll taxes. In 2010, we paid 899 billion in Federal income tax and 865 billion in Federal payroll taxes. These tax dollars are fungible. Politicians found that Trust Fund surpluses from overpayment by the working classes could be “borrowed” to offset yearly deficits, enabling income tax cuts! Brilliant! Cut taxes on the wealthy by borrowing from the workers! Why do we favor capital over labor?

“52% say they pay too much in taxes, 42% say the taxes are about right. Switching to state taxation, funny thing is, the states with the highest number complaining about state taxes being too high are….mostly Democrat (sic) states. Those with the least complaining are mostly Republican states. Americans think the government wastes 50 cents for every dollar they take (which is down from 60 cents in September 2013.)”

Except for Texas, Republican states are “takers”, accepting much more in Federal help than they pay in Federal taxes. No wonder they don’t complain about taxes! Democratic Federal tax monies allow them to cut their state taxes! We liberals prefer you just acknowledge our support and say thank you. You’re welcome.

An opinion poll showing that Americans believe that 50% of government revenue is wasted is a black eye to the legitimate media, and a feather in the cap for FOX. Heckuva job, FOXY!

 
Comment by Dana
2014-04-15 09:28:25

But, but, but, I thought that the evil Rethuglicans had cut taxes for the rich!

Yeah, I’m one of the ones paying 71.6% of all income taxes, and I did my taxes on Palm Sunday. I owed $324, which isn’t too bad: it means that I was close on everything, and wasn’t giving the government an interest free loan in 2013.

I don’t mind paying taxes, for things for the community: for roads, for schools (though I can combitch about how poorly the money is spent), for police and for defense. But I sure as Hell mind having to work to pay for lazy scumbags who could work but are sitting at home on their dead asses collecting welfare. They can all starve to death for all I care.

Comment by John
2014-04-15 09:48:15

Let the kids and old people starve ?

 
 
Comment by Dana
2014-04-15 09:30:08

The Framers had it right: taxes should be based on population, not on income, and everyone should pay the same dollar amount in taxes.

Comment by John
2014-04-15 09:50:56

And how much do you think each should pay ? I would love to see that math

 
 
Comment by Jeffery
2014-04-15 10:00:20

Oops. Forgot to add: Did you notice the sleight of hand perpetrated by the “reporter”?

The wealthy only comprise 13.4% of the tax returns but pay 71.6% of income taxes?????

Those two numbers are unrelated. The important number is the TAXABLE INCOME from those 13.4%… which happens to be… drum roll please… 65% of the US taxable income!

The crux of the story is: People with taxable income pay taxes. Duh!

 
Comment by Jeffery
2014-04-15 10:19:02

dana,

So if the adjusted gross income of the top 5% increased while that of the bottom 95% remained stagnant, even if the tax rates were unchanged, wouldn’t the proportion paid by the 5% increase? Of course it would. And certainly you’re not denying that the income tax rates have been cut, are you?

Mr. Obama forced through a temporary cut in payroll taxes for the working classes but that has expired.

Why do conservatives resist tax cuts for the working classes but make tax cuts for the wealthy their prime objective?

 
Comment by Jeffery
2014-04-15 10:51:01

Dana and john,

“The Framers had it right: taxes should be based on population, not on income, and everyone should pay the same dollar amount in taxes.”

John: I’m certain Dana was making a joke; one that I’ve made before. No one would seriously make such a silly recommendation.

The math is pretty simple. With 300,000,000 citizens, and Fed spending at $3,000,000,000,000/year, and 10e12/10e8 = 10e4 or 10,000, therefore, each American owes $10,000. So under Dana’s system, a family of 4 has a Federal tax liability of $40,000.

So a McDonald’s manager making $42,000 a year with two kids and a stay-at-home mom, would have $2000 to live on. Talk about an incentive not to have children! Or to get married! It’s like a flat tax on anabolic steroids.

I guess we could cut spending in half. No Social Security, Medicare, Medicaid… only spending on defense and de fence to keep the Mexicans out. Then the McDonald’s manager would have $22,000 to live on. Bill Gates would still have $22,000,000,000 to live on.

No one could seriously recommend this (although I HAVE heard it recommended on talk radio).

 
Comment by david7134
2014-04-15 12:46:32

It is very simple, you don’t pay tax, you don’t vote.

 
Comment by Jl
2014-04-15 12:49:47

“Why do we tax capital gains at a low rate?” Probably the risk involved-invest in companies and watch them grow. Remember that most of the time the money invested in the market and taxed at a lower rate was first earned as ordinary income and taxed at the higher rate.

 
Comment by Jeffery
2014-04-15 14:16:42

“It is very simple, you don’t pay tax, you don’t vote.”

Everyone pays some tax: Income tax, payroll tax, property tax, sales tax, gasoline tax.

Why not just base the number of times you can vote on how much money you have?

If you make less than $50K, 1 vote; and you get an additional vote for each $50K increment up to a million bucks where you get an additional 100 votes. Donald Trump would get 120 votes and a dedicated grade school teacher in an inner city would get 1. That’s really what you want anyway.

 
Comment by Jeffery
2014-04-15 14:21:27

The “gains” on the money invested are taxed. And at a lower rate than wages, or earned income. If the invested money is lost, it can be used as a tax break.

 
Comment by david7134
2014-04-15 14:40:56

Jeff,
You bet your bottom dollar that I want the welfare crowd not to vote. I does not make sense to have people voting to take money away from others, no matter how much you cry about it. And, if you aren’t paying income tax, then you aren’t paying taxes. Payroll tax is your contribution that you get back. Other taxes are your consumption taxes. Only income tax is variable to your wealth and therefore the one that the communist like yourself are targeting.

 
Comment by david7134
2014-04-15 19:26:50

Jeff,
If you haven’t figured out the Trump is close to being broke, then you don’t know much about money.

The country was founded on the principal of voting tied to production. It only began to change after politicians found they could manipulate things with the welfare crowd and other takers voting for favors. If you think this is going to be the rule of thumb, then you are sicker than I think. Things will change or things will dissolve.

 
Comment by jl
2014-04-16 01:51:57

“The gains on the money invested are taxed at a lower rate than wages or income.” Yes, so your point would be….what? The money you make selling your house is also taxed at a lower rate than wages or income. Are you saying this is bad, or what-I can’t tell. But if you don’t agree with this policy, remember the Dems could have changed it any way they wanted, but didn’t, except for a slight modification. “Except for Texas,Republican states are takers, accepting much more in federal help than they pay in taxes.” States? Wow, you ‘re really reaching for the bottom of the statistical barrel. Here’s how it happens in real life, and is much closer to the truth., because we pay taxes individually, not by state. Your sentence should have read ” Individual Democrats are takers, accepting much more in federal aid than they pay in taxes.” There, fixed it for you. You’re welcome.

 
Comment by Jeffery
2014-04-16 06:47:35

j,

My point on income from capital gains is that it is taxed at a lower rate than wage income. Why do we value unearned income more highly than earned income? Why do we punish the construction worker with a higher rate than the hedge fund manager? The construction worker is actually building something, the hedge fund manager isn’t.

I was responding to Teach’s statement: “Switching to state taxation, funny thing is, the states with the highest number complaining about state taxes being too high are….mostly Democrat (sic) states.”

He claims there are “Republic” states and “Democratic” states, and the idea of red and blue states is widespread. The individuals that comprise the populace of red states take more from the federal government than they pay in. The individuals that comprise the populace of Blue (Democratic) states, e.g., NY, CA, MA, NJ etc pay in more to the federal government than they receive.

Do you any evidence at all that “Democrats are takers, accepting much more in federal aid than they pay in taxes”? Mississippi, Alabama, Louisiana, Tennessee, Kentucky, West Virginia, Oklahoma, Missouri, Kansas, SC etc… They all vote overwhelmingly for Republic candidates yet you claim their electorate is mostly Democratic?? The Republics are devious but even I doubt they can fix that many elections.

Our current economic system has been constructed to benefit the wealthy, donor class. The working classes more and more are not making enough money to keep up and tax policy is only part of the problem. Dems and Repubs have enacted international trade policies rewarding the capital class, immigration non-policy rewards the capital class, labor laws reward the capital class, fiscal and monetary policies reward the capital class (we keep unemployment high to keep inflation at 0), we bailed out Wall Street but kicked Main Street out of their homes… the one time Washington Democrats and Republics come together is to give wet, sloppy kisses to the wealthy class.

 

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