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re: I find it interesting that a pro athlete can get paid $25million a year....
Posted on 3/30/14 at 12:28 pm to Taxing Authority
Posted on 3/30/14 at 12:28 pm to Taxing Authority
Posted on 3/30/14 at 12:29 pm to Draconian Sanctions
quote:No it isn't.
i don't know what you're laughing at. it's a fact.
Posted on 3/30/14 at 12:37 pm to NC_Tigah
quote:
No it isn't.
Ok then, tell me what the federal tax rate was on top earners in 1935. 1950? 1980?
This post was edited on 3/30/14 at 12:37 pm
Posted on 3/30/14 at 12:40 pm to Draconian Sanctions
quote:Unsurprising.
i don't know what you're laughing at.
No one pays the marginal rate.
Marginal rates don't mean isht. Go back and look at the allowed deductions at those "higher" rates. You used to be able to deduct everything from food to clothes.
Effective rates are all that count.
What has changed is the number of people reaching the top marginal rate. It's grown significantly.
This post was edited on 3/30/14 at 12:41 pm
Posted on 3/30/14 at 12:41 pm to Draconian Sanctions
quote:
Ok then, tell me what the federal tax rate was on top earners in 1935. 1950? 1980?
Ok. Now list all the deductions people could take. NOBODY paid those percentages. Hell, they paid more when Reagan lowered taxes but eliminated numerous deductions. Hell before you could write off food, clothing, home, interest of any kind and all kinds of other shite. Reagan pulled a bait and switch on us.
Posted on 3/30/14 at 12:45 pm to Taxing Authority
Even if you want to use effective rate, it has still dropped. In 1979 the overall tax rate was above 22 percent. In 2009 it is closer to 18 percent. Every quintile paid a lower effective tax rate in 2006 than in 1979. Since 1979, total tax rates have fallen across the spectrum, including for the top 10, 5 and 1% of taxpayers.
Posted on 3/30/14 at 12:47 pm to Draconian Sanctions
WOW! From 27.5% to 25.8% HUGE DROP!! Tax cuts for the rich!! (hint: you still need to look at number of taxpayers)
This post was edited on 3/30/14 at 12:49 pm
Posted on 3/30/14 at 12:49 pm to SmackoverHawg
quote:
Ok. Now list all the deductions people could take. NOBODY paid those percentages. Hell, they paid more when Reagan lowered taxes but eliminated numerous deductions. Hell before you could write off food, clothing, home, interest of any kind and all kinds of other shite. Reagan pulled a bait and switch on us.
Being completely serious, I've never heard this take before. I had assumed his tax policies were a reason for Conservative idolatry.
I'd also be curious if you had a link to doctor's salaries coming under fire? Seems the last thing you would want to take issue with.
Posted on 3/30/14 at 12:51 pm to Taxing Authority
quote:
WOW! From 27.5% to 25.8% HUGE DROP!!
Well it's still a drop. to hear some people tell it they are being taxed more and more than ever before and in fact are being targeted for these extra taxes while the moocher class runs around with all sorts of goodies .
This post was edited on 3/30/14 at 12:52 pm
Posted on 3/30/14 at 12:52 pm to Draconian Sanctions
(no message)
This post was edited on 12/23/14 at 11:29 pm
Posted on 3/30/14 at 1:10 pm to Draconian Sanctions
quote:In many cases they are.
Well it's still a drop. to hear some people tell it they are being taxed more and more than ever before.
Your chart shows % of tax per taxable income. But the definition of "taxable income" has changed drastically over the years. Hell, in 1986 it changed COMPLETELY. Same with AGI. That distorts your chart (but I'm sure you already knew that).
And you also need to look at number of people subjected. You chart uses quintiles which distorts the pictures as tax brackets split the quinitles. Quntiles are perhaps the silliest way of looking at taxes, because they do not align with rate in any way.
For example in 1970, it took over $1,000,000 (in 2012 $'s) to reach the top tax bracket. In 2014 you reach the top tax bracket at a mere $391k.
There are indeed a lot of people paying a lot more taxes than they used to.
This post was edited on 3/30/14 at 1:25 pm
Posted on 3/30/14 at 1:13 pm to Draconian Sanctions
quote:WRONG!!
In 1979 the overall tax rate was above 22 percent. In 2009 it is closer to 18 percent.
In 1979 it was 22.7%. It was 21.0% in '09. That doesn't include additional Obamacare taxes, and a 1.5% effective rate increase in FICA. Overall, effective rates exceed 1979.
Posted on 3/30/14 at 1:20 pm to NC_Tigah
quote:The Federal treatment, and deductibility, of state and sales taxes adds to the distortion as well. As does the AMT because of its wonky definition of "income"... but I'm trying to keep it simple...
That doesn't include additional Obamacare taxes, and a 1.5% effective rate increase in FICA. Overall, effective rates exceed 1979.
This post was edited on 3/30/14 at 1:22 pm
Posted on 3/30/14 at 1:34 pm to Taxing Authority
Draconian Sanctions' arse is getting torn up ITT.
This post was edited on 3/30/14 at 1:36 pm
Posted on 3/30/14 at 1:37 pm to bigblake
How am I an idiot? I never said the ball player getting $25 million a year wasn't worth it. He will get paid what the organization thinks he is worth and will hopefully get their return on investment. If that "employee" sells tickets it will be seen as a good investment. So why can one organization pay an employee that much with no negative comments from liberals? If another organization pays it's CEO $10 million a year and that person makes decisions that lead to profits and strong earnings, why are they chastised for paying one person so much?
Posted on 3/30/14 at 1:41 pm to lsu1987
I suspect it has more to do with athletes visibly producing something through labor.
They're the workers.
They're the workers.
This post was edited on 3/30/14 at 1:42 pm
Posted on 3/30/14 at 1:41 pm to Zach
quote:When was the last time the middle class could not watch a game at virtually no cost? The price I pay to go to a game is offset by all the games I watch for free.
Now, MLB, NBA and NFL tickets are not only beyond the reach of the poor, they are beyond the reach of the middle class
Posted on 3/30/14 at 1:45 pm to Draconian Sanctions
quote:
Since 1979, total tax rates have fallen across the spectrum, including for the top 10, 5 and 1% of taxpayers.
Can't speak for years prior to 2000, but since Barack has been in office, that's some bullshite. Anyone care to disagree and I will gladly swap tax obligations. Unless you're really rich, then go frick yourself and your offshore accounts and shadow companies. Or if you owe more than I do.
Posted on 3/30/14 at 1:55 pm to SmackoverHawg
(no message)
This post was edited on 12/23/14 at 11:29 pm
Posted on 3/30/14 at 1:55 pm to onmymedicalgrind
quote:
Players like Lebron, Kobe, Peyton, etc are actually underpaid
That is a product of unions.
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