Taxes — The Bigger Picture

The following was provided to me by Bill Case, a fellow traveller that insists upon researching and digging deeper into the data … the rest of the story that is seldom ever discussed in the public.

Source for the info below:​s/indtaxstats/article/0,,i​d=133521,00.html

If you are calling Federal Income Tax “taxes” then they only make up 27.6% of government revenue. The other 72% is already spread fairly evenly amongst everybody. As for the Federal Income Tax portion of the tax bill:

Total Tax Revenue for all levels of government in 2009: $4,353 Billion

Federal Income tax:

At or Below the Poverty Line (Individual Annual Income less than $16,000)
Number of Returns 11,592,357 10.4%
Taxable Income $37 Billion 0.7%
Tax Generated $3.6 Billion 0.34%

Middle Income (Individual Annual Income more than $16,000 but less than $200,000)
Number of Returns 92,026,036 85.2%
Taxable Income $3,555 Billion 62.9%
Tax Generated $546 Billion 50.5%

Wealthy (Individual Annual Income more than $200,000)
Number of Returns 4,359,936 4%
Taxable Income $2,061 Billion 36.5%
Tax Generated $531 Billion 49.1%

Effective Tax Rate:
Poverty Line: 10%
Middle income: 15%
Wealthy: 26%

Total Federal Income Tax Generated: $1,081 Billion (2010)

Tax Generated by Wealthiest: $531 Billion or 49.1% of Total Federal Taxes and 24% to 27% of total tax revenue.

Total Number of returns for 2010: 108 million.

$4,353 Billion Total Taxes
$1,081 Billion Federal Income Taxes

$3,272 Billion generated by Other taxes (non-Fed Income Tax)
$30,296 of non-Fed Income Tax paid per return.

Effective Taxes per return
Poverty Line: ($30,296+/-)+ 310 = $30,606
Middle income: ($30,296+/-) + 5,934 = $36,230
Wealthy: ($30,296+/-)13,000 + 12,349 = $42,645


Notes by Bill4DogCatcher:

A tax return filing is only required for those that exceed:

Self-employed, any age: $400
Children and Teens classified as a dependent: $5,700
Single, under 65: $9,350
Single, over 65: $10,750
Married, filing jointly, both spouses under 65: $18,700
Married, filing jointly, one spouse over 65: $19,850
Married, filing jointly, both spouses over 65: $20,900
Married, filing separately, any age: $3,650

The current wrapped-around-the-axle argument by both sides:

Left: The rich aren’t paying their fair share. Doesn’t exactly seem to be the case, or anywhere close to it.

Right: The few are carrying the many and all taxes are robbery of the efforts that a person puts into their work. Hardly.

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