I am rich indeed ! I have warm weather all year long . I have beautifull beaches that are minutes away and the cool of the mountains just a little longer . I have a general populace that is friendly and helpfull and a joy to know . I have night life that is both hot and inviting . I have my friends, my granddaughers, my pets, and my lifestyle . I'm not only rich in the things that count, I know I have it made . . .
Top 20 Percent of Households Pay 94 Percent of The Nation's Total Income Taxes (maybe we should be thanking them?)
For all four of the bottom quintiles, i.e. the bottom 80 percent of households, the income tax rate has been dropping fairly steadily since the early 1980s. In contrast, the tax rate on the top 20 percent has held relatively steady at about 14 percent of income. The tax rate on the top 1 percent has also held fairly steady, but at a higher rate of about 21 percent. Since 2007, the tax rate on the top 1 percent has actually increased, from 19.4 percent to 21 percent, such that it is higher now than at any time since the Bush tax cuts. This is largely due to the collapse of the stock market, which reduced capital gains as a source of income.
It follows that the share of income taxes paid by top earners has increased as well. As Figure 2 shows, in 2009 the share paid by the top 20 percent of households was 94.1 percent, just shy of the record high of 94.6 percent in 2008. This is up from 64.7 percent in 1979.
Likewise, the share of taxes paid by the top 1 percent has increased from 18.4 percent in 1979 to 38.7 percent in 2009. In contrast, the share of income taxes paid by the bottom four quintiles has decreased since 1979, particularly since 2007.
There is a massive deception campaign in the US, and in its global propaganda, which seeks to portray the United States as a poor set-upon nation that would like world peace but just has to keep a military stationed around the globe to "police" all the world's "trouble spots."
In fact, nothing could be further from the truth.
That truth is that the US is the biggest war-monger the world has ever known.
Boban1: There is a massive deception campaign in the US, and in its global propaganda, which seeks to portray the United States as a poor set-upon nation that would like world peace but just has to keep a military stationed around the globe to "police" all the world's "trouble spots."
In fact, nothing could be further from the truth.
That truth is that the US is the biggest war-monger the world has ever known.
Some of what is in the article is true, some of it is not true.
One thing that bothers me is that whoever wrote it seems to assume that all the other big and small players in the world are somehow innocent, honest and saintly.
Interestingly enough, I don't see anybody wanting to emigrate to China, Russia, Serbia (jk), etc. Why is that?
Scubadiva: Some of what is in the article is true, some of it is not true.
One thing that bothers me is that whoever wrote it seems to assume that all the other big and small players in the world are somehow innocent, honest and saintly.
Interestingly enough, I don't see anybody wanting to emigrate to China, Russia, Serbia (jk), etc. Why is that?
You don't know this, surely, but exists workers flow to these countries. In China, for example, and some of them came from western countries.
GUZMAN1: You don't know this, surely, but exists workers flow to these countries. In China, for example, and some of them came from western countries.
Yes, of course, but it is as you say: They are workers on temporary assignments, sort of like in Saudi, where they import labour from Bangladesh, India, Pakistan, etc. The majority do not go there to become permanent residents. Also, it's nowhere near the numbers as you see in the U.S. As you probably know, Merkel is crawling up China's butt and people from Germany go to China, but they are still paid by the parent company and their contracts are time limited.
I think China has enough labour and as they get richer, they are outsourcing to Africa, you know. What they need and want are specialists from the west, not more regular people
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vote rumny, make them richer-Forbes?!!!(Vote Below)
What's your share of US wealth?!!!
vote rumney..make them richer