Taxes For America’s Wealthiest Continue to Fall Even Lower

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New data from the Internal Revenue Service has been released and it shows that tax rates for America’s wealthiest fell even lower in 2010. The average effective tax rate fell for all income groups above $500000. For those who’s incomes are above $10 million, the average rate fell from 22.4 percent in 2009 to 20.7 percent in 2010… This clip from the Majority Report, live MF at 12 noon EST and via daily podcast at Majority.FM

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EdwardHowton says:

Right, because if you pay payroll taxes only, then it’s not the same money used for social security. It all goes to the same government, but it’s magically separated by… what? I don’t live in your imaginary fucktardedlystupidland.

I’m failing to see what twisted insane pseudo-logical chain you’re following to arrive to YOUR straw man of “because I don’t want to raise taxes on small businesses that make over $250k a year, that means I support tax havens and loopholes”. You make no sense. None.

Bolgernow says:

AGAIN, I’m explaining what the top 3% make. The TOP 1% make $500,000 & above according to William Thompson & Joseph Hickey. Please take any statistical issues up with them. Just reporting the facts they captured. The top 3% is directly paying for & CONTROLLING the politician’s, period. It’s over, done, finished

s9z9s says:

I said top 1%, not 3%. Occupy Wall Street wanted to make it sound like these people in the upper 1% are all a bunch of millionaires. By the way, a lot of these people are only in that category temporarily. A lot of these “1%ers” are people who just sold their house and so on. And I’m not angry. Every survey shows conservatives are happier people.

Bolgernow says:

Ahem, the top 3% are $200,000 & up. Please “Affluence in the United States” on any search engine. Why are you so angry?

s9z9s says:

I agree, that he should have said “income tax” instead of “all taxes,” but where did you see any real push to fix all of this when the Democrats controlled the House by a supermajority from ’08-’10, along with the White House. You set up this straw man in which because I don’t want to raise taxes on small businesses that make over $250k a year, that means I support tax havens and loopholes. As for payroll taxes, so the bottom 50% shouldn’t even pay for their Social Security now?

s9z9s says:

Do you know how much you have to make to be considered in the top 1%? $350k, which means you’re blaming a bunch of orthodontists because your politicians are screwing you.

s9z9s says:

I could show you a Zogby survey showing conservatives to perform better than self-described Democrats on basic economics questions. And if you knew anything about studies, you’d know it’s very easy to set it up in a way to get the result you want. The University of Maryland did this with their “Fox News viewers most uninformed” survey, which was absolutely torn apart by Lee Doren.

s9z9s says:

Actually, the unemployment rate hit 4.5% during the Bush years after the tax cuts, before the RINO/SkumoKrat-created housing bubble crashed the economy.

Jack194343 says:

Do a You Tube search:
The Truth About Republicans by..George Carlin /
Study: Liberals Smarter Than Conservatives

Jack194343 says:

Do a You Tube search:
Bill Maher 2012 02 23 Crazy Stupid Politics UNCENSORED

Satakunta says:

You have no fucking idea why Africa suffers. Your mindless drivel speaks loads about why your country is fucked, though!

Bolgernow says:

in France, they took Louis the 16th’s head off. Top 3%, your reign is over!

EdwardHowton says:

Speaking of grossly fucking uninformed.

“The Top ten percent of your country DO pay 70% of all taxes.”
Except they don’t. Offshore banking, tax havens, and other loopholes mean they don’t pay their taxes.

“The bottom fifty pay NOTHING.”
Except they do, on payroll taxes, the ones who aren’t so shit poor that they can afford to pay something without then starving to death.

You can’t squeeze that much juice out of a turnip. You can get a hell of a lot more out of a watermelon. Get a damn clue.

EdwardHowton says:

That may have been too subtle for you to understand, even though I dumbed it down as far as I could. So if you still don’t get it, I give up. I just can’t talk down to your level. Believe what you will and good luck to you.

On the rest of your anti-government paranoia, pull your head out of your ass. If your country is starving but as a farmer you can make more money growing opium, then you DO need someone to tell you to grow food instead.

See above re: pure capitalism is self-destructive.

EdwardHowton says:

Capitalism, left to its own devices, will strangle itself to death. The rich will amass wealth until they have all of it, and then the economy dies because there is no economy.

Wealth cannot be generated ad infinitum. Wealth is a zero sum equation. When someone gains wealth, someone else loses it.

If you have two people on a deserted island, and one of them discovers a food source but will sell it to the other guy, then you still don’t have an economy. Food is wealth, and one guy has it all.

Avey Owyns says:

“Right, so all those people who have no money, no property to speak of, blah, blah, blah…”
Yes, indeed. That’s the wonder of capitalism. Capitalism GENERATES wealth. Socialism redistributes already existing wealth and in most cases, SQUANDERS IT!
There’s a lot more work that needs to be done well beyond ‘tyrannical governments’ …
Obviously, you goof. But Africa is NOT suffering because they are poor. They are suffering because of GOVERNMENT.

EdwardHowton says:

Right, so all those people who have no money, no property to speak of, and in many cases not even clean water to drink would suddenly benefit from having access to things they can buy without rules telling them to grow food or such.

That makes sense! If you’ve got the sense of a concussed puppy.

There’s a lot more work that needs to be done well beyond “tyrannical governments” before Africa has the infrastructure necessary to support an economy. Like, y’know, HAVING ANY INFRASTRUCTURE AT ALL.

EdwardHowton says:

Hey, dipshit? Where the fuck did I defend communism?

Look, let me give you some advice. This is important, so pay attention.

Pull your empty skull out of your rectum. Wipe off the excess shit. Take three showers. Drag your sorry, ignorant ass over to a high school, and take an economics class for a year. Then, when you realize what a fucking ignorant asshat you are, put a gun in your mouth and pull the trigger out of shame.

Demand isn’t “I WANT THINGS”. It’s also buying power. Africa has none

StunnedByStupidity says:

Aristotle said it 2500 years ago, you can have capitalism OR a wealthy class you cannot have both. And when the deathly class get power they STEAL FROM EVERYONE ELSE.

Avey Owyns says:

The reason why dropping a Wal-Mart in ‘Africa’ won’t help is because most African countries have governments that regulate the means of production which causes shortages and inflation.
Get their tyrannical governments OUT of the market, get them to STOP telling Africans what they can or can’t sell/produce, get their corrupt administration to STOP perpetual poverty to gain more US funding that they can spend on their lives of luxery, and dropping a Wal-mart in ‘Africa’ will do them plenty good.

Avey Owyns says:

…deficit.
The Top ten percent of your country DO pay 70% of all taxes. The bottom fifty pay NOTHING.
Republicans: Tax everyone at the same LOW rate across the board.
Democrat: Tax the rich – even though the revenue we collect will only fund the government for eight days.
You: Grossly uninformed.

Avey Owyns says:

“They deserve to receive those programs…”
Indeed, you fool. But I think you Liberals purposely play dumb and pretend not to know that when conservatives talk about ‘entitlements’ we’re talking about welfare, food stamps, section eight, etc, etc – you know, the things you can get for NOTHING.
“Conservatives are trying to destroy them…”
Obama already plans to take funds from Medicare and apply it to Obamacare. Obama also has admitted that SS NEEDS to be reformed because it is running at a…

Jack194343 says:

You admit Americans are paying for Medicare and SocSec. Since they are paying for those programs, they deserve to receive those program. Those programs are not give aways, but the Conservatives are trying to destroy them, trying to destroy the public’s safety net, trying to destroy people’s lives.
Do You Tube search:
Inequalistan Chris Hayes debunks top percent pay 70 percent of all /
Republicans: Tax The Bottom 50% More /
Conservative lie: 50% of Americans Don’t Pay Any Taxes / 

Armando7654 says:

you r fucking retarded for defending communism. I can tell you know nothing about economics by now. U can’t hide it anymore. Infrastructure, politics???MUHAHA Communist clueless putz, according to U it doesn’t matter people are poor, the only prerequisite of economic activity according to YOU is: people wanting to consume, demand, the presence of consumers. u got consumers in Africa! What are you telling us now, that they are too poor to consume? See U loosing ur stupid argument on every front!

EdwardHowton says:

Don’t call people clueless when you don’t even have a basic grasp of sentence structure, dipshit.

African countries don’t have much supply either. They don’t have stable political systems. There’s no infrastructure. When people are so goddamn poor they can barely survive, you don’t get strong economies. Do you honestly think dropping a Wal-Mart in there is going to fix anything?

Oh wait, of course you do. You think rich people drive the economy. Because you’re fucking retarded.

Armando7654 says:

Communist Cunt, you are the one who gives stupid answers!
your every answer is dumber than the previous one: “because there’s no economy to speak of”? Dipshit, “why is there no economy to speak of”, is the question u should have answered! Why is there no economy? they according to your putz logic have the foundation of economic activity: the consumers & yet there’s no economy”! Why?” I ask, and the moron answers: “because there’s no economy, any other stupid questions”? LOL Commie clueless cunt

EdwardHowton says:

It’s amusing that you accuse me of being a communist for explaining the capitalist economic model, but then you yourself describe an economic situation that would only exist in a communist model. I.E. jobs appearing magically out of nowhere.

You keep saying ‘communist’. I don’t think that word means what you think it means.

“How come in African countries there is a huge demand for food but no food suppliers”
Because there’s no economy to speak of, dipshit. Any other stupid questions?

Armando7654 says:

HAHA speaking like a true communist!
ask yourself dummy, where will consumers get the money to buy goods? from a job! So job comes first! U first earn it then u have it. u don’t have it just because you demand it. work/production, not consumption drives the economy. How come in African countries there is a huge demand for food but no food suppliers? By your idiotic logic, mere demand, mere presence of consumers should create jobs? does it? NO! b/c u got no clue what u r talking about

Avey Owyns says:

…opinion is outside of the words that leave my brain. Thanks, but no thanks, Ms Cleo.
“Do you think the tax codes should be governed by fairness or just number…”
You mean, Ms Cleo, you don’t know? Fairness… If the rich pay 30% of their income for taxes, then so should the poor … without loop holes and without subsidies.

Avey Owyns says:

I agree that they pay taxes FOR MEDICAID AND SOCIAL SECURITY. They’re doing nothing more than paying a kind of insurance for when they get old. They aren’t contributing to the ‘roads and bridges’ you liberals are so worried about being built outside of government intervention!
“The great bulk of people who pay no taxes are the destitute and…”
No. Thirteen percent of America are eligible or SS, that’s a mere quarter of the fifteen percent.
“It is your opinion…”
Don’t tell me what my…

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