[Vision2020] Re: Latte' Tax "Creamed"

Dale Courtney dmcourtn@moscow.com
Mon, 20 Oct 2003 10:38:34 -0700 

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Late getting back to Melynda on this matter. She wrote: 

> Unless, that is, you are very wealthy.  The top tax bracket
> is now 35%--half what it was in the 1970s, lower than at any
> time since Herbert Hoover of esteemed memory was President.
>
> "Families with incomes over $1,000,000 per year--a mere 0.13%
> of the population--will receive 17.3% of this year's tax cut,
> more than the total received by the bottom 70% of families." (p. 61)
>
> Eagerly awaiting some graphs from local "Starve-the-Beast"ers,

Here are some graphs, but, as a Libertarian, I'm for economic prosperity as
opposed to leveling everyone into poverty. If you want to find someone who
want to "starve" everyone, you'll have to look to a different political
perspective. 

Only The Rich Pay Taxes: Top 50% of Wage Earners Pay 96.03% of Income Taxes

 
<http://courtneys.us/msd/images/top_50__of_wage_earners_pay_96_09__of_income
_taxes.jpg> 

*Data covers calendar year 2001, not fiscal year 2001 - and includes all
income, not just wages, excluding Social Security

*	Top 5% pay 53.25% of all income taxes
*	The top 10% pay 64.89%
*	The top 25% pay 82.9%
*	The top 50% pay 96.03%
*	The bottom 50%? They pay 3.97% of all income taxes. 

The top 1% is paying more than ten times the federal income taxes than the
bottom 

So, if someone is looking to make tax cuts, then the only place where you
can make tax cuts is to those who actually pay taxes. 

You may want to verify my numbers. See:
http://www.irs.ustreas.gov/pub/irs-soi/01in01ts.xls

Best,
Dale


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<P><FONT size=3D2>Late getting back to Melynda on this matter. She =
wrote:=20
<BR><BR>&gt; Unless, that is, you are very wealthy.&nbsp; The top tax=20
bracket<BR>&gt; is now 35%--half what it was in the 1970s, lower than at =

any<BR>&gt; time since Herbert Hoover of esteemed memory was=20
President.<BR>&gt;<BR>&gt; "Families with incomes over $1,000,000 per =
year--a=20
mere 0.13%<BR>&gt; of the population--will receive 17.3% of this year's =
tax=20
cut,<BR>&gt; more than the total received by the bottom 70% of =
families." (p.=20
61)<BR>&gt;<BR>&gt; Eagerly awaiting some graphs from local=20
"Starve-the-Beast"ers,</FONT></P>
<P><FONT size=3D2>Here are some graphs, but, as a&nbsp;Libertarian, I'm =
for=20
economic prosperity as opposed to leveling everyone into poverty. If you =
want to=20
find someone who want to "starve" everyone, you'll have to look to a =
different=20
political perspective. </FONT><FONT face=3DArial color=3D#800000 =
size=3D2><A=20
id=3D0001></P>
<P><SPAN id=3DPar_0001_sub=20
style=3D"FONT-WEIGHT: bold; FONT-SIZE: 16px; COLOR: #003399; =
FONT-FAMILY: arial">Only=20
The Rich Pay Taxes: </SPAN><SPAN id=3DPar_0001_col=20
style=3D"FONT-WEIGHT: bold; FONT-SIZE: 16px; COLOR: #003399; =
FONT-FAMILY: arial; TEXT-DECORATION: none">Top=20
50% of Wage Earners Pay 96.03% of Income Taxes</SPAN></P><A id=3D0008>
<P><SPAN id=3DPar_0008=20
style=3D"FONT-SIZE: 10px; COLOR: #000000; FONT-FAMILY: arial">&nbsp;<IMG =
alt=3D""=20
hspace=3D0=20
src=3D"http://courtneys.us/msd/images/top_50__of_wage_earners_pay_96_09__=
of_income_taxes.jpg"=20
border=3D0><BR><BR>*Data covers calendar year 2001, not fiscal year 2001 =
- and=20
includes all income, not just wages, excluding Social =
Security</SPAN></P><A=20
id=3D0002>
<UL>
  <LI><SPAN id=3DPar_0002=20
  style=3D"FONT-SIZE: 12px; COLOR: #000000; FONT-FAMILY: arial">Top 5% =
pay 53.25%=20
  of all income taxes</SPAN></LI>
  <LI><SPAN id=3DPar_0002=20
  style=3D"FONT-SIZE: 12px; COLOR: #000000; FONT-FAMILY: arial">The top =
10% pay=20
  64.89%</SPAN></LI>
  <LI><SPAN id=3DPar_0002=20
  style=3D"FONT-SIZE: 12px; COLOR: #000000; FONT-FAMILY: arial">The top =
25% pay=20
  82.9%</SPAN></LI>
  <LI><SPAN id=3DPar_0002=20
  style=3D"FONT-SIZE: 12px; COLOR: #000000; FONT-FAMILY: arial">The top =
50% pay=20
  96.03%</SPAN></LI>
  <LI><SPAN id=3DPar_0002=20
  style=3D"FONT-SIZE: 12px; COLOR: #000000; FONT-FAMILY: arial">The =
bottom 50%?=20
  They pay 3.97% of all income taxes. </SPAN></LI></UL>
<P><SPAN id=3DPar_0002=20
style=3D"FONT-SIZE: 12px; COLOR: #000000; FONT-FAMILY: arial"><FONT=20
color=3D#ff0000><B><I>The top 1% is paying more than ten times the =
federal income=20
taxes than the bottom </I></B></FONT></SPAN></P>
<P><SPAN style=3D"FONT-SIZE: 12px; COLOR: #000000; FONT-FAMILY: =
arial">So, if=20
someone is looking to make tax cuts, then the <U>only</U> place where =
you can=20
make tax cuts is to those who actually pay taxes. </SPAN></P>
<P><SPAN style=3D"FONT-SIZE: 12px; COLOR: #000000; FONT-FAMILY: =
arial">You may=20
want to verify my numbers. See:=20
http://www.irs.ustreas.gov/pub/irs-soi/01in01ts.xls</SPAN></P>
<P><SPAN=20
style=3D"FONT-SIZE: 12px; COLOR: #000000; FONT-FAMILY: =
arial">Best,<BR>Dale</SPAN></P></A></FONT></BODY></HTML>

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