Comments on: Where’s The Money In America?

By: Dave T

Dave T — Thu, 29 Jul 2010 02:32:24 +0000

The other reason to give away money before you die is that it prevents Uncle Sam from taking an undeserved percentage of it away as an estate tax.

1 like

By: Wake Up

Wake Up — Sun, 25 Jul 2010 17:32:33 +0000

Doug,

The idea that the top earners aren’t doing their share is based on how small a percentage of their income they pay towards taxes as compared to what the bottom 50% pays towards taxes, and it is a sad truth not a crock. Nice try on manipulating the situation, though.

1 like

By: ParisLove

ParisLove — Sun, 25 Jul 2010 16:24:54 +0000

I’m in a downwardly mobile trend, and I’m ok with that. I was in the top 1% for a few years, and it isn’t all it’s cracked up to be. I’m happier here, with some free time and the ability to sleep in on occasion.

Living low is the way to go!

1 like

By: StreetMeatSteve

StreetMeatSteve — Sun, 25 Jul 2010 13:42:40 +0000

Yep. It’s funny that this “info” graphic leaves out who pays out the most taxes in this country.

It wouldn’t fit the whole… “rich people are evil” mantra.

1 like

By: Doug

Doug — Sat, 24 Jul 2010 13:07:25 +0000

In 2007 the top 1% paid 40.42% of all federal income taxes. The top 5% paid 60.63% and the top 25% paid 86.59%. These percentages have all increased since 2007. The bottom 50% pay virtually nothing in federal income taxes. This is the most progressive system of income taxation in the world. The idea that the top earners aren’t doing their share is a crock.

1 like

By: Joshua

Joshua — Fri, 23 Jul 2010 15:23:42 +0000

Interesting numbers, but I think there’s more to this tale. I was looking at average household expenditures over the past 15 years, and it’s clear that people across all wealth demographics are increasing their luxury spending.

Entertainment purchases are a much higher percentage of annual spending, eating out has increased significantly, grocery spending has dropped a lot, people spend more on furniture, clothing, and electronics. It appears that savings have shrunk and debt increased to compensate for unnecessary purchases.

I was also looking at a survey of households listing “what they have.” 59% of all households have a big-screen TV, nearly all of which are HDTVs. 78% have one or more cellphones and half of those are smartphones. More than 40% of households have a current-generation gaming console, and 20% have a home theater room.

2 likes

By: elseesea

elseesea — Thu, 22 Jul 2010 20:20:07 +0000

WE THE PEOPLE want our money back, from the government, the system, and all the rich people who milk the system and living off our hard-working three-jobs-per-person backs. Now.

5 likes

By: Don

Don — Thu, 22 Jul 2010 18:39:40 +0000

I get so tired of people thinking how bad things are in america, In the last 4 years we have straighten our family finances out no debt, making money, enjoying life with the help of the total money makeover from Dave Ramsey I got tired of being the slave to the lender know I am the master and with the Good Lord’s help me and my house will stay that way. Anyone can do it so stop the poor mouth get up and find a job even if it is only part time stop depending on a government who does not care and work be the better person. I like how the President and Congress known what I need and can feel our pain but how the President has a worth of around 5-6 million and most members of Congress are millionares they sure feel my pain………..

By: jscarey

jscarey — Wed, 21 Jul 2010 23:13:53 +0000

Strange there wasn’t any mention of the percentage of taxes paid to the government by the different levels of earners. Maybe not so strange; it’s hard to foster wealth envy with tax liabilities.

2 likes

By: viralviralvideos

viralviralvideos — Tue, 20 Jul 2010 20:47:02 +0000

wow, im defiently at the bottom.