Tom Adams Posted September 2, 2008 Share Posted September 2, 2008 The IRS recently released some data covering income figures for the 10-year period from 1996 to 2005. The bottom one-fifth of income earners saw their income increase by 91%. And the top one-fifth of income earners went down by 26%. For all taxpayers the increase was 26%. Interesting.......... Tom Quote Link to comment Share on other sites More sharing options...
RT FAN Posted September 2, 2008 Share Posted September 2, 2008 We keep being told how bad things are, how is Obama going to get elected if you keep publishing facts like these??? According to the IRS, 86% of all federal income taxes were paid by the top 25% of wage earners, the top 50% of wage earners pay 97% of federal income taxes. Data from the most recent Tax year info released by the IRS. Quote Link to comment Share on other sites More sharing options...
Tom Adams Posted September 2, 2008 Author Share Posted September 2, 2008 I understand and can appreciate your zeal Stephen, but please cool it with the political slant thing. Amy be watching. [:#] Tom Quote Link to comment Share on other sites More sharing options...
RT FAN Posted September 2, 2008 Share Posted September 2, 2008 Sorry, didn't have my sarcastic emoticon handy! I'll take your advice and avoid any political commentary. Quote Link to comment Share on other sites More sharing options...
oldtimer Posted September 2, 2008 Share Posted September 2, 2008 I'll play. The bottom one fifth is what most of us would call poor. Most of that increase might be due to the mandated increase in the minimum wage. As for the top fifth, well a lot of middle management has bit the dust lately, deservedly so in terms of cutting the fat. Look at the numbers, it's not all that hard to crack the top ten percent especially in terms of household income. I'm glad you guys are so comfortable. Most people are one injury or major health issue away from bankruptcy. At least you guys have no debt and can get by with your current plan. Quote Link to comment Share on other sites More sharing options...
oldtimer Posted September 2, 2008 Share Posted September 2, 2008 I'll add that I seriously doubt that those figures are adjusted for inflation. Inflation is the IRS best friend. As Bob Dylan sang, "when you ain't got nothin, you ain't got nothin to lose." Quote Link to comment Share on other sites More sharing options...
JJkizak Posted September 3, 2008 Share Posted September 3, 2008 Almost any mathematical computation of figures can be manipulated and professionally interpretated for a political agenda. For instance: The inflation index minus food and fuel? Give me a break. JJK Quote Link to comment Share on other sites More sharing options...
colterphoto1 Posted September 4, 2008 Share Posted September 4, 2008 i can tell you one thing, the service isn't going to get much from me this year. Quote Link to comment Share on other sites More sharing options...
Tom Adams Posted September 5, 2008 Author Share Posted September 5, 2008 Almost any mathematical computation of figures can be manipulated and professionally interpretated for a political agenda. For instance: The inflation index minus food and fuel? Give me a break. JJK No.....you give US a break and can the paranoia political agenda crap. Did you actually READ what I wrote?? It was a 10 year period from 1996 to 2005. How in the hell do you infer that some IRS statistic that doesn't include THE LAST THREE YEARS is a political agenda?? Good lord......maybe you should put your aluminum foil hat back on. Tom Quote Link to comment Share on other sites More sharing options...
JJkizak Posted September 5, 2008 Share Posted September 5, 2008 I stand by what I said. Your IRS statement is totally computer generated gobblediggook to promote the authors agenda. JJK Quote Link to comment Share on other sites More sharing options...
bigdaddy Posted September 6, 2008 Share Posted September 6, 2008 All politics aside the facts posted in the first post can be checked. whether you want to claim they mean nothing or you want to claim they show how great our economy is really doing. It is an easy matter to prove or disprove whether the statements are indeed true. As to the issue of most people being one major injury away from bankruptcy. I'd love to see some hard facts that show that. Quote Link to comment Share on other sites More sharing options...
oldtimer Posted September 6, 2008 Share Posted September 6, 2008 Get seriously hurt, miss work for over a year, and find out. The number one cause of personal bankruptcies in the US is medical bills which can't be paid. http://content.healthaffairs.org/cgi/content/full/hlthaff.w5.63/DC1 Quote Link to comment Share on other sites More sharing options...
sputnik Posted September 7, 2008 Share Posted September 7, 2008 The IRS recently released some data covering income figures for the 10-year period from 1996 to 2005. The bottom one-fifth of income earners saw their income increase by 91%. And the top one-fifth of income earners went down by 26%. For all taxpayers the increase was 26%. Interesting.......... Tom Care to cite your source for the "data"? I think someone's been lying to you. Quote Link to comment Share on other sites More sharing options...
oldtimer Posted September 7, 2008 Share Posted September 7, 2008 Capital gains are not income. It doesn't have to be a lie, it just also doesn't have to tell the whole story. Or for example tax free municipal bonds would not be included as income. Quote Link to comment Share on other sites More sharing options...
DrWho Posted September 7, 2008 Share Posted September 7, 2008 I'll play. The bottom one fifth is what most of us would call poor. Most of that increase might be due to the mandated increase in the minimum wage. As for the top fifth, well a lot of middle management has bit the dust lately, deservedly so in terms of cutting the fat. Look at the numbers, it's not all that hard to crack the top ten percent especially in terms of household income. I'm glad you guys are so comfortable. Most people are one injury or major health issue away from bankruptcy. At least you guys have no debt and can get by with your current plan. I might propose that any economically stable country requires that there be both poor and rich. I agree that it's not as comfortable to be poor, but riches are by no means a natural human right. I also don't believe that riches bring the level of satisfaction that many imply in these conversations. And btw, many rich people can also be one major health issue from bankruptcy, or even one major financial issue from bankruptcy as well. No, not everyone has the same amount of risk in this life, but then life was never about being fair to begin with. Manipulating social systems to achieve personal gain is not what the government is for (and both sides seem to be guilty of this). Quote Link to comment Share on other sites More sharing options...
oldtimer Posted September 8, 2008 Share Posted September 8, 2008 agreed. So what's your point? My point is that it is counterproductive to manipulate or mislead using figures to advance one extreme view over another. Quote Link to comment Share on other sites More sharing options...
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