How Your Income Stacks Up

Discussion in 'Free Speech Alley' started by Rex_B, Dec 29, 2009.

  1. Rex_B

    Rex_B Geaux Time

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    how-your-income-stacks-up: Personal Finance News from Yahoo! Finance

    Income Cat.......2007 AGI..........% of all Income......% of taxes paid
    Top 1%.............Over $410,096.............23%....................40%
    Top 5%.............Over $160,041.............37%....................61%
    Top 10%...........Over $113,018.............48%....................71%
    Top 25%...........Over $66,532...............69%....................87%
    Top 50%...........Over $32,878...............88%....................97%
    Bottom 50%......Under $32,878.............12%....................3%

     
  2. TUSKtimes

    TUSKtimes Riding the Wave

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    So what your saying is that the majority of the wealth is in the hands of 5% of the population.

    I'm just guessing that last 1% would take you way beyond 400,000 a year.

    I hope the 5% can grind out one more year.
     
  3. mctiger

    mctiger RIP, and thanks for the music Staff Member

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    What I'm reading is that the top 5% hold 37% of the wealth....and pay 61% of the taxes. And Democrats think they should pay more, in the name of "fairness."

    Democrats need a dictionary.
     
  4. gumborue

    gumborue Painfully Pessimistic

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    seems about right. except for the gap in income distribution, but thats another story.
     
  5. shane0911

    shane0911 Helping lost idiots find their village Staff Member

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    I know right? And then you have idiots who shall remain nameless that think this is cool, groovy, a-ok. What a bunch of phuck rockets.
     
  6. Rex_B

    Rex_B Geaux Time

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    What exactly do you mean by this?
     
  7. LaSalleAve

    LaSalleAve when in doubt, mumble

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    you make more money you pay more taxes. pretty simple. however i do think the only people who should be getting something for nothing are those who are physically or mentally unable to work. anyone else should have to either do community service, or something to earn unemployment or welfare etc etc. I also think there needs to be something done about the amount of kids that are born in this country into poverty just so parents can collect an extra dime.
     
  8. martin

    martin Banned Forever

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    again, it is not the gap that is relevant. it is how the poor are doing. given enough freedom, there will always be people that go out and make 100x times what other folks are making. and this is abenefit to the poor, not a detriment.

    it is a central lie of the left that an income gap is caused by rich people taking money from poor that they would have otherwise.

    there is an enormous gap between what A-rod makes and what a rookie makes. arod makes 30 million, but the rookie is making 400k. the gap is incredible. but it because arod puts people in the seats that the league is making enough for the rookies to make 400k.

    we have to stop pretending that this is a zero-sum game, that the rich can only get that way at the expense of the poor.
     
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  9. PURPLE TIGER

    PURPLE TIGER HOPE is not a strategy!

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    :thumb:

    I don't know if this will ever change but we can keep trying. As long as politicians continue to buy/secure voting blocks through government assistance enticements, I don't think we'll ever see the gap closed.
     
  10. Bengal Buddy

    Bengal Buddy Founding Member

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    Don't pay extra welfare for more than one child born out of wedlock.
     

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