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Wealthiest Americans Pay More Tax Than Ever; Would Pay More Under Obama’s Path Out Of Sequestration

March 4, 2013 by  

As lawmakers continue to argue about whether wealthy Americans should take on a heavier tax burden, it turns out wealthy families are already paying the highest tax bills in three decades — even as the rest of the Nation continues to pay historically low rates.

A new analysis by the Tax Policy Center, a research arm of the Urban Institute and the Brookings Institution , reveals average taxes for wealthy families are higher now than at any time since the Congressional Budget Office began crunching the numbers in 1979. Families from middle and low-income brackets are paying less in Federal taxes than in the past.

According to an Associated Press breakdown of the data, if you’re among the top 20 percent of income earners, you’re in a group that will average 27.2 percent in Federal tax this year. If you earn $1.4 million, you’ll pay an average of 35.5 percent.

Taxes included in the cumulative assessment include income, payroll, corporate and estate taxes.

On the other hand, the bottom 20 percent of income earners will pay no Federal taxes, receiving instead Federal credits that not only zero out all their tax liability, but in fact give them a “negative” tax rate.

The report comes as Congressional Republicans continue fighting Democratic proposals to raise Federal revenues through a package of tax rate increases that affect the highest-earning segment of the population.

Read the full AP story here.

Ben Bullard

Reconciling the concept of individual sovereignty with conscientious participation in the modern American political process is a continuing preoccupation for staff writer Ben Bullard. A former community newspaper writer, Bullard has closely observed the manner in which well-meaning small-town politicians and policy makers often accept, unthinkingly, their increasingly marginal role in shaping the quality of their own lives, as well as those of the people whom they serve. He argues that American public policy is plagued by inscrutable and corrupt motives on a national scale, a fundamental problem which individuals, families and communities must strive to solve. This, he argues, can be achieved only as Americans rediscover the principal role each citizen plays in enriching the welfare of our Republic.

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  • Jeremy Leochner

    This video is the main reason why its hard for me to sympathize with the wealthiest Americans:

    http://www.upworthy.com/9-out-of-10-americans-are-completely-wrong-about-this-mind-blowing-fact-2?g=2&c=la3

    And this article makes it even harder:

    http://www.businessinsider.com/15-charts-about-wealth-and-inequality-in-america-2010-4?op=1

    • Jana

      I checked out the site that Jeremy sent us to. Here is some information on it:————–

      Concerned Millennials Join Paul Ryan to Denounce Debt Rollins College Nixes Dorm Room Bible Study
      Upworthy — or, How we are losing the internet to lowest of low information young liberals
      Comments
      Permalink
      Posted by William A. Jacobson Sunday, February 17, 2013 at 10:30am

      I previously wrote about how BuzzFeed Politics has combined “the culture” and savvy crafting into a highly effective tool for undermining Republicans with subtle and not-so-subtle mockery. “Look at the goofy cat, look at the goofy celeb, look at the goofy Republican” is more dangerous to us than a 5000-word article in The New York Times Sunday Magazine.

      To follow up on that theme, I happened upon a website called Upworthy, which had one its posts run at HuffPo, Elizabeth Warren Asks The Most Obvious Question Ever, Stumps A Bunch Of Bank Regulators.

      The post was so wrong on substance, I just had to click over to the source.

      And therein I learned what millions of very low-information young liberals already knew — there is this website called Upworthy which is one giant liberal activist social media machine which creates viral social media memes in the cause of liberal political activism.

      Upworthy was co-founded by the former digital media consultant for MoveOn.org. Upworthy touts its political agenda (emphasis in original):——————–

      This is a very ultra Liberal site, built to taint the minds of our young people and Jeremy fell right into it.

  • Warrior

    Finally, the Washington Post speaks out on Obama! This is very brutal, timely though. As I’m sure you know, the Washington Post newspaper has a reputation for being extremely liberal. So the fact that its editor saw fit to print the following article about Obama in its newspaper makes this a truly amazing event and a news story in and of itself. At last, the truth about our President and his obvious socialist agenda are starting to trickle through the protective wall built around him by our liberal media.

    I too have become disillusioned

    By Matt Patterson (columnist – Washington Post, New York Post, San Francisco Examiner)

    Years from now, historians may regard the 2008 election of Barack Obama as an inscrutable and disturbing phenomenon, the result of a baffling breed of mass hysteria akin perhaps to the witch craze of the Middle Ages. How, they will wonder, did a man so devoid of professional accomplishment beguile so many into thinking he could manage the world’s largest economy, direct the world’s most powerful military, execute the world’s most consequential job? Imagine a future historian examining Obama’s pre-presidential life: ushered into and through the Ivy League despite unremarkable grades and test scores along the way; a cushy non-job as a “community organizer”; a brief career as a state legislator devoid of legislative achievement (and in fact nearly devoid of his attention, so often did he vote “present”); and finally an unaccomplished single term in the United States Senate, the entirety of which was devoted to his presidential ambitions.
    He left no academic legacy in academia, authored no signature legislation as a legislator. And then there is the matter of his troubling associations: the white-hating, America-loathing preacher who for decades served as Obama’s “spiritual mentor”; a real-life, actual terrorist who served as Obama’s colleague and political sponsor. It is easy to imagine a future historian looking at it all and asking: how on Earth was such a man elected president?
    Not content to wait for history, the incomparable Norman Podhoretz addressed the question recently in the Wall Street Journal: To be sure, no white candidate who had close associations with an outspoken hater of America like Jeremiah Wright and an unrepentant terrorist like Bill Ayers, would have lasted a single day. But because Mr. Obama was black, and therefore entitled in the eyes of liberal Dom to have hung out with protesters against various American injustices, even if they were a bit extreme, he was given a pass. Let that sink in: Obama was given a pass – held to a lower standard – because of the color of his skin.
    Podhoretz continues: And in any case, what did such ancient history matter when he was also so articulate and elegant and (as he himself had said) “non-threatening,” all of which gave him a fighting chance to become the first black president and thereby to lay the curse of racism to rest?
    Podhoretz puts his finger, I think, on the animating pulse of the Obama phenomenon – affirmative action. Not in the legal sense, of course. But certainly in the motivating sentiment behind all affirmative action laws and regulations, which are designed primarily to make white people, and especially white liberals, feel good about themselves.
    Unfortunately, minorities often suffer so that whites can pat themselves on the back. Liberals routinely admit minorities to schools for which they are not qualified, yet take no responsibility for the inevitable poor performance and high drop-out rates which follow. Liberals don’t care if these minority students fail; liberals aren’t around to witness the emotional devastation and deflated self-esteem resulting from the racist policy that is affirmative action. Yes, racist. Holding someone to a separate standard merely because of the color of his skin – that’s affirmative action in a nutshell, and if that isn’t racism, then nothing is.
    And that is what America did to Obama. True, Obama himself was never troubled by his lack of achievements, but why would he be? As many have noted, Obama was told he was good enough for Columbia despite undistinguished grades at Occidental; he was told he was good enough for the US Senate despite a mediocre record in Illinois ; he was told he was good enough to be president despite no record at all in the Senate. All his life, every step of the way, Obama was told he was good enough for the next step, in spite of ample evidence to the contrary.
    What could this breed if not the sort of empty narcissism on display every time Obama speaks? In 2008, many who agreed that he lacked executive qualifications nonetheless raved about Obama’s oratory skills, intellect, and cool character. Those people – conservatives included – ought now to be deeply embarrassed.
    The man thinks and speaks in the hoariest of clichés, and that’s when he has his Teleprompters in front of him; when the prompter is absent he can barely think or speak at all. Not one original idea has ever issued from his mouth – it’s all warmed-over Marxism of the kind that has failed over and over again for 100 years.
    And what about his character?
    Obama is constantly blaming anything and everything else for his troubles. Bush did it; it was bad luck; I inherited this mess. It is embarrassing to see a president so willing to advertise his own powerlessness, so comfortable with his own incompetence. But really, what were we to expect? The man has never been responsible for anything, so how do we expect him to act responsibly?
    In short: our president is a small and small-minded man, with neither the temperament nor the intellect to handle his job. When you understand that, and only when you understand that, will the current erosion of liberty and prosperity make sense. It could not have gone otherwise with such a man in the Oval Office.

    • patriot

      [comment has been edited] Just fall in line and beleive what your masters with the money tell you to beleive. The wealthest americans should pay more. they get the most out of the goverment services. I have no monitary interests to be protected by a massive military overseas just to name one example The government spend huge amounts of money and personal to protect these investments ,,why should I pay for them

  • jopa

    Breaking News;The Dow has just reached an all time record high and may even stay there at the close.America is looking good.

    • FreedomFighter

      ROFL

      Laus Deo
      Semper FI

  • FreedomFighter

    The biggest problem with “HIGH TAX” on the very rich is this:

    The world is a big place, not to big, just big, and the “VERY RICH” can live anywhere they damn well please.

    Create an environment of burdensome taxation and these same “VERY RICH” that now pay the bulk of taxes will move to a place of “LESS TAXS”.

    Lets face it, if you could cut your tax rate in half would you? Dang right you would.

    America already has some the highest tax rates in the world on the rich, and I wouldnt blame them for sticking up a middle finger to “Obummer the TAXMAN” and his greedy tax plan and moving to a more favorable place.

    Taxman
    http://www.youtube.com/watch?v=Oyu5sFzWLk8

    Laus Deo
    Semper FI

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