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Breaking News Home | All | Religion | Society | Tech | Choice | SA Newsroom
FRONT PAGE  |  10/14/2019
MONDAY, OCT 15, 2018  |  15 comments
Top 3% of U.S. Taxpayers Paid Majority of Income Taxes in 2016

Individual income taxes are the federal government’s single biggest revenue source. In fiscal year 2018, which ended Sept. 30, the individual income tax is expected to bring in roughly $1.7 trillion, or about half of all federal revenues, according to the Congressional Budget Office.

If past statistics can offer any guidance, in 2016, $1.44 trillion income taxes were paid by 140.9 million taxpayers reporting a total of $10.2 trillion in adjusted gross income, according to data recently released by the Internal Revenue Services. ...


CLICK HERE to Read Entire Article
www.bloombergquint.com

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· Page 1 ·  Found: 15 user comment(s)
News Item9/18/19 12:25 PM
Robert De Niro M-65 Jacket | New York  Contact via emailFind all comments by Robert De Niro M-65 Jacket
[Removed by Moderator Alpha]
15

News Item3/18/19 1:58 AM
wireless charging app | USA  Contact via emailFind all comments by wireless charging app
[Removed by Moderator Alpha]
14

News Item10/22/18 8:32 AM
www.survey.walmart.com | Washington, DC  Contact via emailFind all comments by www.survey.walmart.com
[Removed by Moderator Alpha]
13

News Item10/16/18 11:40 AM
Plain Old Tim | Possum Hollow, USA  Find all comments by Plain Old Tim
Kent Hovind argued that income tax was unconstitutional. How’d that work for him?
12

News Item10/16/18 6:35 AM
Christopher000 | Rhode Island  Find all comments by Christopher000
Hi US and JaG,

I've heard, not only the arguments, but also those who claim they've won these legal battles, but those who make these claims are also selling books on how to never pay income tax again. Sorry, but they are liars, and every high court in the land has considered every one of these law suits, frivolous. The basic argument is that the 16th amendment was never ratified, taxes weren't meant to be imposed upon personal income, the original wording was changed from what the amendment originally had stated, and among others, that Ohio wasn't even a state at the time, etc., etc. Every case has been tossed out, and most never even made it to most dockets.

Tax protestor arguments:
https://en.m.wikipedia.org/wiki/Tax_protester_Sixteenth_Amendment_arguments

The IRS/Governments positions and rebuttals:
https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.irs.gov/privacy-disclosure/the-truth-about-frivolous-tax-arguments-section-i-d-to-e&ved=2ahUKEwiHu6To3oreAhXtt1kKHWMtCD0QFjAOegQICBAB&usg=AOvVaw2KwEnKFQ5Oax6GX4eaVyuR

30, 40, 50% of our income is thievery, especially when our hard earned dollars are used with such carelessness on nonsense and personal luxury by our Senators, but nobody is living Federal income tax free by court ruling.

11

News Item10/15/18 9:36 PM
Unprofitable Servant | TN  Find all comments by Unprofitable Servant
Just a Guy wrote:
Income tax is unconstitutional...
We should not have to pay more taxes for making more money.
Some smart guys have actually sued the Federal government (in a Federal Court lol), and won a ruling in which they don't have to pay any income tax for rest of their lives.
The courts themselves have ruled it unconstitutional and the politicians know it. But of course they dont care...
They'll just keep hiding under the guise of helping the poor...😩😩😩
Sorry finding your assertion a tad unbelievable (not saying you are lying just no facts to back up what you said) because, if true the wealthy would sue their way out of taxes if that was an option plus could not find a case that showed such a ruling.

INCOME TAX
Passed by Congress July 2, 1909. Ratified February 3, 1913. The 16th Amendment changed a portion of Article I, Section 9

The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.

The Supreme Court ruled around 15 years earlier BEFORE the passage of the 16th amendment that it was unconstitutional.

see following link

https://taxfoundation.org/must-pay-federal-income-tax/

10

News Item10/15/18 6:51 PM
Neil | Tucson  Find all comments by Neil
A tax auditor close to me once mentioned, to my disbelief, that many taxpayers are so ignorant (or stupid), they think a tax refund is free money, instead of merely a correction of overpayment.

If folks had to pay tax in cash every year, they might think a little differently. But as it stands now, why should people who pay no tax (such as those below minimum income) have a say, via voting, in the level of taxation? It is, in effect, a license to steal.

Robert Gascoyne Cecil, 3rd Marquess of Salisbury:
"The bestowal upon any class of a voting power disproportionate to their stake in the country, must infallibly give that class a power pro tanto of using taxation as an instrument of plunder, and expenditure and legislation as a fountain of gain"

9

News Item10/15/18 5:31 PM
Just a Guy | Mississippi  Find all comments by Just a Guy
Income tax is unconstitutional...

We should not have to pay more taxes for making more money.

Some smart guys have actually sued the Federal government (in a Federal Court lol), and won a ruling in which they don't have to pay any income tax for rest of their lives.

The courts themselves have ruled it unconstitutional and the politicians know it. But of course they dont care...

They'll just keep hiding under the guise of helping the poor...😩😩😩

8

News Item10/15/18 2:29 PM
Unprofitable Servant | TN  Find all comments by Unprofitable Servant
From the article

The top 1% paid a greater share of individual income tax (37.3) than the bottom 90% combined (30.5).

Yet Jim thinks they don’t pay their “fair” share. Which would only be right if he acknowledged they pay more than their “fair “ share

Here’s where his sources really twist the truth
Keeping the math simple

Rich guy pays a million dollars in taxes and middle income guy pays five thousand Rich guy gets 3% cut and middle income guy gets 10% cut

Rich guy gets $30,000 tax break and middle income guy gets $500. Jimbo’s sources say see rich guy 60 times bigger tax break so the cuts favor the rich. They don’t tell you rich guy is paying 200 times more money in taxes to start with or that the middle income guy got a 70% larger tax break

Don Tian, while I know what you are trying to get at, I really don’t see the parable you cited as being applicable. Will discuss if you’d like.

7

News Item10/15/18 1:47 PM
Don Tian | Donchian Channels  Find all comments by Don Tian
Of course, that's why we have the lottery to collect tax from the majority who do not pay any federal income tax, and some even get money back (welfare without calling it that, instead, the ironically named "Earned Income Credit." I thought 'earned income' was what you get when you went to work. In this case, it's what you get from Uncle Sam for not having gone to work!
By the way, in all the reporting on the effects of Hurricane Michael, I did see the Capitol Update program from The Florida Channel mention that it changed the residents, 'easy and relaxed way of life.' I'm sure they knew exactly how much to work to keep getting their 'Earned Income Credit').
And a personal note for WP on taxes: would you loan $100 a month to your brother in order for him to give it back to you in January with no interest? There's a Bible verse here about talents that applies as well. The bad servant did nothing with the money that was left in trust to him. The same thing Uncle Sam is doing with the loan you are giving him.
Another way to look at it: you have from Jan to April to save $$ to pay the tax bill due April 15.
6

News Item10/15/18 10:42 AM
Plain Old Tim | Possum Hollow, USA  Find all comments by Plain Old Tim
But WP, just think of all the good things the feds do with that money! Like spending over three billion dollars on vacations for employees on administrative leave for personal misconduct. If that isn’t sound financial policy, I don’t know what is.
5

News Item10/15/18 9:14 AM
Wayfarer Pilgrim | Lubbock,tx  Find all comments by Wayfarer Pilgrim
Actually with the tax overhaul, my wife and I will get a return on the loan we gave to Uncle Sam during the past year. Not much, but better than paying him more in April.
4

News Item10/15/18 6:38 AM
Plain Old Tim | Possum Hollow, USA  Find all comments by Plain Old Tim
The only completely fair tax system would be a flat tax where everyone pays the same percentage with no exemptions or deductions regardless of how much or how little they make. Our current system rewards people for being indolent and punishes them for being diligent. Trump should be allowed to keep the same proportion of his millions as the widow does of her mite, if for no other reason than to send socialistic bozos like Jim into apoplexy.
3

News Item10/15/18 5:03 AM
Jim Lincoln | Nebraska  Find all comments by Jim Lincoln
From the Bloomberg article:
BloombergQuint wrote:
....
The most extensive rewrite of the U.S. tax code in more than 30 years was signed in law in early 2018. Individuals may start to feel the effects of last year’s tax overhaul when they file their returns in April. Estimates show the law’s biggest benefits go to top earners....

https://tinyurl.com/y9ukk5nc (Voters May Be Wising Up)👍

2

News Item10/15/18 4:46 AM
geometry dash | chicago  Contact via emailFind all comments by geometry dash
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