Tax Rates In Perspective!
Steve Benen has another great post up about the tax debate and reminds us, with the help of others, that the wealthy are paying less than they have for many, many years. Look at this chart for visual proof, courtesy of Moveon.org…
Of course the top rate really doesn’t have much to do with how much they actually pay. I saw this great comment over at Bob Cesca’s Awesome Blog, Go – from GrafZeppelin127
I could go on and on… taxable vs. adjusted gross vs. gross income … marginal tax rates on the -last- dollars, not the first … deductions vs. exemptions vs. credits … gross revenue vs. net profit … Schedule C …
There is so much about how the federal tax system works that so many people try so hard not to understand when it comes to political debates about taxes, and it’s frustrating to someone who does understand it. I get sick of pointing out that income is taxed, not people. I get sick of pointing out that only profits are taxed, not revenues. I get sick of pointing out that a rich person pays the same tax on the first X dollars of his income as a poor person who only makes X. I get sick of pointing out that rich people have a lot more untaxed or tax-deferred income than poor people, meaning rich people are taxed per annum on a smaller percentage of their total income than poor people. I get sick of pointing out the money businesses use to “create jobs” is not taxed against that business by the federal government. I get sick of pointing out that a business that makes zero profit or operates at a loss pays no federal income tax. I get sick of pointing out that no one “creates jobs” using his personal, after-tax income.
You can’t expect people to understand things when something in which they have a personal stake depends on their not understanding it.
That says a lot in a paragraph. I am saving it for ammunition against the brain dead people on the right who really have no clue and simply spout Republican talking points. I was fortunate to grow up in a wealthy home, after my mother remarried (my dad died when I was 6 in 1968), and I was fortunate to have a mom and step dad who were liberals. My parents didn’t mind paying their fair share, were lifelong Democrats and pretty much kept the local Mission running. They used to get phone calls from the Mission when they were running low on funds and my mom and dad would write them a check. We used to see homeless people wearing my dads donated clothes around the mission, colorful golf pants, expensive shoes…driving by the mission was sometimes humorous, we had the best dressed homeless people in the state. So I learned as a teenager that those who are more fortunate than others should help their fellow man. I try continue that legacy to this day.
Lastly, for anyone keeping score……that project I was waiting to hear about…..it’s a go. I’m off to New York City next week to sign the contracts and work out the shooting schedule and other details. Once the papers are signed, I’ll share the project with you in case anyone is curious. I can’t wait to make some extra money so I can help out my struggling community.