Comments on: Why Budget Deficits Matter: Government at a $1.26 Trillion Budget Deficit for the 2009 Fiscal Year. Three Times as Large as Last Year and we still have Two More Months of Data. http://www.mybudget360.com/budget-deficits-matter-government-at-a-126-trillion-budget-deficit-for-the-2009-fiscal-year-three-times-as-large-as-last-year-and-we-still-have-two-more-months-of-data/ Investing ideas for preserving wealth in a fluctuating market. Thu, 29 Jul 2010 14:34:27 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Lost-in-North-Dakota http://www.mybudget360.com/budget-deficits-matter-government-at-a-126-trillion-budget-deficit-for-the-2009-fiscal-year-three-times-as-large-as-last-year-and-we-still-have-two-more-months-of-data/comment-page-1/#comment-12225 Lost-in-North-Dakota Thu, 20 Aug 2009 12:03:07 +0000 http://www.mybudget360.com/?p=1087#comment-12225 I have no argument with the table presented, that the top 10% of earners pay over 50% of the income taxes. However, it only tells part of the story. Middle-income people pay tons of federal taxes, via "payroll" taxes. A more complete story would be told if the table presented all FEDERAL taxes paid, not just the income tax. The people who are taxed most heavily are the middle class to upper-middle class self-employed. They pay a lot in income taxes, and payroll type taxes. I have no argument with the table presented, that the top 10% of earners pay over 50% of the income taxes. However, it only tells part of the story. Middle-income people pay tons of federal taxes, via “payroll” taxes. A more complete story would be told if the table presented all FEDERAL taxes paid, not just the income tax. The people who are taxed most heavily are the middle class to upper-middle class self-employed. They pay a lot in income taxes, and payroll type taxes.

]]> By: Webe Scrude http://www.mybudget360.com/budget-deficits-matter-government-at-a-126-trillion-budget-deficit-for-the-2009-fiscal-year-three-times-as-large-as-last-year-and-we-still-have-two-more-months-of-data/comment-page-1/#comment-12068 Webe Scrude Mon, 17 Aug 2009 22:15:46 +0000 http://www.mybudget360.com/?p=1087#comment-12068 we're scrued, blued and tatooed. ended as a republic. crashing as an out of control, rogue dictatorship bent on endless war mongering and killing. we’re scrued, blued and tatooed. ended as a republic. crashing as an out of control, rogue dictatorship bent on endless war mongering and killing.

]]> By: Expat http://www.mybudget360.com/budget-deficits-matter-government-at-a-126-trillion-budget-deficit-for-the-2009-fiscal-year-three-times-as-large-as-last-year-and-we-still-have-two-more-months-of-data/comment-page-1/#comment-12063 Expat Mon, 17 Aug 2009 18:00:06 +0000 http://www.mybudget360.com/?p=1087#comment-12063 "The top 10 percent of taxpayers already pay 54 percent of income taxes. Drop down to the top 25, and you have 83 percent of all taxes. This is a question that we need to seriously explore." Yes, let's explore that. Income distribution has hit record "unfairness" levels in America, the kind usually seen in tin-pot Third World dictatorships the US so loves propping up. The middle class is being eviscerated. And the poor, well, they are still poor. If the top 25% of income earners are paying 83% of taxes it is because they are earning at least that much of the wealth, if not more. I am a wealthy, retired trader but I am sickened by seeing hedge fund billionaires paying 20% tax while taking home literally billions in pay. The US is not a socialist country, though there are many socialist programs in place which even rich, right-wing Americans would not touch (think CIA, FBI, DHS, Military, ATC, police, fire departments, border patrol, etc.). They simply decide they don't like things which they don't use like social security, Medicare, public schools, and public health services. But if the American ideal is to have 10% of the population controlling 95% of the wealth, then the rich better buy guns and armed guards because most Americans don't want this. As ignorant, stupid, xenophobic, and greedy as Americans may be, they also have a certain sense of fairness and equality. Your insinuations are distasteful to me, but I suppose you are rich and don't give a f%$* “The top 10 percent of taxpayers already pay 54 percent of income taxes. Drop down to the top 25, and you have 83 percent of all taxes. This is a question that we need to seriously explore.”

Yes, let’s explore that. Income distribution has hit record “unfairness” levels in America, the kind usually seen in tin-pot Third World dictatorships the US so loves propping up. The middle class is being eviscerated. And the poor, well, they are still poor.

If the top 25% of income earners are paying 83% of taxes it is because they are earning at least that much of the wealth, if not more. I am a wealthy, retired trader but I am sickened by seeing hedge fund billionaires paying 20% tax while taking home literally billions in pay.

The US is not a socialist country, though there are many socialist programs in place which even rich, right-wing Americans would not touch (think CIA, FBI, DHS, Military, ATC, police, fire departments, border patrol, etc.). They simply decide they don’t like things which they don’t use like social security, Medicare, public schools, and public health services.

But if the American ideal is to have 10% of the population controlling 95% of the wealth, then the rich better buy guns and armed guards because most Americans don’t want this. As ignorant, stupid, xenophobic, and greedy as Americans may be, they also have a certain sense of fairness and equality.

Your insinuations are distasteful to me, but I suppose you are rich and don’t give a f%$*

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