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  • delucks345 delucks345 Mar 12, 2013 9:20 AM Flag

    a 4.7% surcharge on the incomes of the top 1% = the $85 billion the gop wants to sequester

    the gop love the sequester that cuts $85 billion from the deficits...... that much could be raised with a
    a 4.7% surcharge on the incomes of the top 1% which equals $85 billion the gop wants to sequester
    top 1% take in about 20% of the nearly $9trillion of all USA AGI
    hiking the tax on that $1.8 trillion by 4.7% is about $85billion. You know the $85 billion the gop is happy to cut.... so that the rich can continue with historically low tax rates: ie...
    in 1955 the top 400 returns paid on avg 50.2%
    recently the top 400 paid 16.6%. on an avg income of $345 million

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    • 4.7 surcharge? Wait, what if the bottom 47 percent paid their fair share. That sounds more equitable.

    • The rich pay majority of U.S. income taxes
      CNNMoney

      Many people think that the rich are able to weasel their way out of taxes, but they actually pay an overwhelming majority of the taxes in the United States.

      What's more, their share of the tax burden is increasing.

      The top 10 percent of taxpayers paid over 70% of the total amount collected in federal income taxes in 2010, the latest year figures are available, according to the Tax Foundation. That's up from 55% in 1986.

      The remaining 90% bore just under 30% of the tax burden. And 47% of all Americans pay hardly anything at all -- a fact that got Republican presidential candidate Mitt Romney into political hot water last year for telling the truth.

      "There's been a huge myth created that the rich aren't paying anything," said William McBride, the Tax Foundation's chief economist. "The rich pay a much higher rate than the poor."

      • 1 Reply to onedinosaur
      • oh brother, listen up moron, most of the income the USA goes to the rich..... so, DUH, the rich have to pay MOST of the taxes,, and they paid much more years ago.... MUCH MUCH morein 1955 the top 400 returns paid on avg 50.2%
        recently the top 400 paid 16.6%. on an avg income of $345 million
        and furhermore, moron, the rich benefit the MOST from the tax cuts bush did, when he should have raised taxes to pay for the invasions and wars..... as was the case for WW2 and nam.
        do you realize that the top 1% take in 20% of all USA income..... the entire 70 million in the bottom half take in half that, about 10%.......and a mere $35K puts you in the top half..... jeez....THOSE people can't pay any more.... the top 1% can... they did before..... so if the GOP wants to whine about debt, let them get the money from where it is at the TOP..

    • the pubs should advocate this as the gop deficit reduction plan..... they should have done it in W's years to pay for W's invasions and war.....instead of the irresponsible tax cuts for the rich...... when was the last time the USA went on a spending spree and went to war but gave the rich huge tax cuts?
      "The cost of World War II was financed primarily by a highly progressive Income Tax, as well as other taxes on corporations to prevent excess profits being derived from government contracts. Even the Vietnam War was largely financed by a surtax on incomes, paid largely by wealthier citizens rather than by the transfer of a payroll tax-generated social security Surplus to cover U.S. budget deficits. "
      and btw, when did the trend of LOWER national debt each year after WW2 end?..............
      yep, Reagan turned that around! and he TRIPLED the nation's debts with his tax cuts and ENDED the entire post war history of a lower national debt each year.

 
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