The rich pay all the taxes

The same people who tell you your Social Security withholding doesn't qualify as insurance, because the Supreme Court says its just another tax that goes into general revenue, so it doesn't entitle you to anything, also want to tell you that you don't pay any income tax because nothing is subtracted from your Adjusted Gross Income on April 15. One of those things is a lie, or at least an insensitive "mis-spoke."Boys and girls, flim flammers one and all, you only get to have it one way. Get that right hand to pay attention to what the left hand is doing.

Both the poor (who get free money) and the ultra rich (who don't need to work) get low tax burdens. But if you're in the middle and actually have to work for your money, you get penalized with the highest tax rates. In my opinion, we should move to a simple flat income tax across the board, with no loop holes for corporations or the ultra rich. Then we should weasel out every person who is stealing from us through entitlement programs by lying about their income & situation, and collect all the money stolen. Give that last assignment to the NSA - they'll have a blast.

Tax Revenue is and has roughly been about 18% of GDP. Any addition, increases in tax revenue will pay increasing debt service as interest rates rise. The problem isn't taxes, marginal tax rates are the lowest since the 1950's. Interest rates are the lowest since the 1980's - maybe ever. The issue is that not enough of America is receiving a proportionate share of national income to be taxed/saved/invested, so we can't even consume the levels of output America is capable of producing. We are in equilibrium until interest rates rise which will raise taxes to service the higher debt, but reduce consumption (borrowing). The wealthy can't be taxed enough to pay the debt, and there aren't enough of them to boost GDP via consumption and tax revenues. The "Middle Class" needs to share more national income, but if they did they will pay higher taxes due to the increasing national debt --- now near $18T, with Medicare, Medicaid, S.S. liabilities now well over $60T. These debts are well over $500K per taxpayer today. We as a country are essentially in default, as there is no way today to pay these commitments.

What percentage of the nation's wealth do the top 20% own? ... is it less than 93%?

The money, (90 billion monthly) given by the fed to wall street is gulped up by the wealthy. Does this money or any part actually reach main street...I think not!

I am shocked! Shocked to learn that the United States has a progressive federal income tax where the widow gets to keep her mite!

This short article hits the nail on the head that the lower income groups don't contribute much in tax base for the federal level and that the top earners pay for pretty much everything. The mainstream media tries to hide this fact by finding examples of the ultra-rich who pay little, but in most cases the ultra rich are heavily invested and a huge percentage of their personal wealth is on paper, and isn't realized as income for annual taxes. For those who earn $100K and up on a paycheck, or by selling investments at a profit, they really are paying A LOT in income taxes to the federal and state treasuries...Don't let the media lie to you, do the research, the people who earn six figures and up really are paying almost all of the income taxes. I know that almost half (about 46%) of each additional dollar I earn goes directly to taxes before I see it. I really believe that is at least a fair share, more than a fair share.

Hi Folks,

I may just add that the total national debt

accumulated over 200 years of US history was $12T,

when Obama first took office in 2009,

It's just a fraction from today's $18T.

All thanks to Obama!!!

Darn thing is that the "Royal We",

voted Obama in for a second term.

HOPE is Obama would not be able to change the law

to enable Obama another run for the Presidency.

CHANGE for the better is what we all HOPE for.

QED.

Hello Jane,

Watch all your TV broadcast on CNBC.

CBO should make it available to ALL those who,

for whatever their personal/political agenda,

continuously complain the top 1% pay less tax than they do.

I know this is NOT even close to true.

Philosophically, I WANT TO pay more taxes,

because that means I make more money!!!

QED.

Doctors, Lawyers, Engineers, Highly paid technical workers etc... pay a lot in taxes. Percentages are relative. They kill the top 1% in what is paid. But forget that.
Lets pick on JP Morgan and Banks in particular. They were the more responsible party creating a bubble which caused trillions of dollars in debt. My opinion debt = the tax bill. So more than likely all the top 1% bankers in the last hundred years have not paid in taxes = to the damage they have caused. NET. They paid zero. Far less than zero or the bottom 20%.
Lets pick on inside trading. When was the last month where someone (top 1%) wasn't accused of inside trading. My math if you steal more than you paid in taxes you paid zero. Again we have a negative probably far lower than the bottom 20%.
Corporate leaders who sell jobs overseas while enjoying stimulus money to pay people who have lost their jobs so they can buy the products made overseas. Again taxes - damage to economy leaves them well negative.
So what we have here is the top 1% who are the real #$%$ who pay far less than nothing while the bottom 20% who shop at Wal Mart who are supporting them.