9-9-9 Is Definitely The Way to Go

It's often helpful to see complex tax policy proposals represented graphically. Helps with the understanding and all that.

Here, for example, is a look at Herman Cain's 9-9-9 plan and its impact on household federal taxation relative to the tax rates we'll have come 2013 if no changes are made.



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Pretty cool, eh? Weird that, only a third of his party's voters pick him as their first choice for President. I expect that his abortion stance and foreign policy acumen will bring the rest around.

That chart's cool, but sometimes it's more fun to look back at the past. See how we got to where we are for a change.

Here's a fun one showing who was President when we incurred various sums of federal debt. Enjoy!



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Nice try ... but facts are no match for self-indoctrination validated by blowhards.

We are on year 3 of Obama, his chart is going to look worse as we go through his one term presidency.

Not defending George W but, he was involved in 2 wars. Not that I agree with us doing so now. However at the time we were doing what most felt was needed to defend our country and honor. Of course in hindsight we probably missed the mark. It just was not George W who felt we needed to do these but so did Congress and the American people. Were we given all the facts? It appears we probably were not.

What the charts really show is just how out of control government spending has been in the past 11 years and where we are headed!

Dude, haven't you heard? Our resident LVA conservative friends dont like charts or statisitics. They prefer baseless conspiracy theories.

What a donk... 9 9 9= 666

I have seen this chart before and it only accounts for 2 years of owebama. At the present rate of spending and if we are stuck with him for 8 years he will have run up over $10,000 billion in debt

I like the first chart, and I suspected that was the case with the 9-9-9 plan.
I have a coworker who claims the rich not only pay a smaller fraction in taxes, they also pay LESS.

That chart clearly shows that going to flat rates, it lowers the rate on the top 20% and raises it on the 80%.

So who pays what you ask?

What is the truth?

What better place to go to find out the answer than the IRS (Internal Revenue Service). Taxfoundation.org has developed a couple of easy-to-follow charts based on the data provided by the IRS - I have provided a link to Taxfoundation.org below.

According to the IRS, the "income split point" for somebody to be included in the top 1% of all taxpayers (by income) was $380,354 in 2008 (the last year where data is available).

So, if you reported Positive Adjusted Gross Income (AGI) of $380,354 or over, then you were in the top 1% of all taxpayers in the United States in 2008.

According to the IRS, this group of taxpayers (1,399,606 total) paid 38.02% of all federal individual income tax collected in 2008.

The top 5% of all taxpayers (income split on this group was at $159,619 in 2008) paid 58.72% of all federal individual income taxes in 2008.


Let's continue to break this down:

Top 10% (Income Split Point $113,799) Paid 69.94% of Federal Individual Income Taxes
Top 25% (Income Split Point $67,280) Paid 86.34% of Federal Individual Income Taxes
Top 50% (Income Split Point $33,048) Paid 97.30% of Federal Individual Income Taxes
Bottom 50% (Anyone Making Less Than $33,048) Paid 2.7% of Federal Individual Income Taxes

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A few other interesting nuggets of information for you:

-top 1% of earners in 2008 brought home 20% of adjusted gross income but paid 38.02% of all federal individual income taxes

-top 1% of earners paid 40.4% of federal individual income taxes in 2007

-the top 0.1% of earners in 2008 (140,000 tax returns) paid 18.5% of federal individual income taxes

-the average income of this group in 2008 was approximately $6 million

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There you have it, courtesy of the IRS.

Source: Taxfoundation.org



What then IS the fair share the rich are supposed to pay? The top 10% of wage earners already pay70% of the taxes...


Bob

Someone help me out here. If we all are citizens of this great nation, is it not logical that each one of us despite our means gets the same type of benefit from our various taxing entities? Aren't we all equally safe in our lives and dwellings as a result of having such a large, active military? Do we not all have access to education? Is Interstate 5 open to all of us for travel and transit? Does a rich man have greater First Amendment protections than a poor woman, or vice versa? Assuming we can get past all the kick-back schemes and deductions and all that, doesn't it make sense to just add up the yearly cost of government and send an equal-share invoice to every man, woman, child, church, not-for-profit organization, business entity and the like here in the Great Republic?