Skip to main content

View Diary: The rich really did get richer, while the rest of us ... didn't (74 comments)

Comment Preferences

  •  If you want actual facts (0+ / 0-)

    The CBO keeps data on effective federal income tax rates -- how much of your income you actually PAY in federal income taxes.  (Top marginal rates are pretty meaningless in and of themselves -- the rich paid more under Clinton's 39.9% top marginal rate than they did under Carter's 70% top marginal rate.  If you want to see a summary of the CBO data for historical effective federal income tax rates, look at the SECOND chart here. Other charts show effetive rates for other kinds of taxes, and the first chart combines all federal taxes.

    If you want to see how much revenue the federal government has taken in and has spent over the years as a percent of GDP, see here.  Based on existing law, i.e., the repeal of the Bush tax cuts at the top and the sequester staying in place, we're projected, over the next several years, to take in about 19% of GDP a year and spend about 22% of GDP a year.  You can see how that compares with historical average.

    If you want to see how progressive our federal income tax code is, i.e., how of the total income taxes each income sector pays as compared with their percentage of total income, the IRS publishes that data every year.  The IRS data is summarized  in charts that are pretty easy to read here.    If you'd prefer to go to the original source, you can go here or to the IRS website here.

    It's always better to discuss tax policy based on actual data.  

    •  I know I've looked and the breakdowns on income (2+ / 0-)
      Recommended by:
      Barton Funk, Words In Action

      whether by bracket or quintile or whatever never match up across sources, which makes a full analysis of the type WiA has asked for extremely difficult.

      It's always better to discuss tax policy based on actual data.
      I believe he conceded the point.

      Nevertheless, I think his conclusions are probably spot on.

      “Washington has become our Versailles. We are ruled, entertained, and informed by courtiers -- and the media has evolved into a class of courtiers." - Chris Hedges

      by Klusterpuck on Sat Apr 27, 2013 at 05:52:44 PM PDT

      [ Parent ]

      •  Thanks. That was my experience as well. (0+ / 0-)

        That's why I haven't been able to fully crunch the numbers. Apples, bowties and llamas.

        But I'm pretty sure someone more familiar with the sources could work it out.

        Frankly, I'd rather take down Exxon or Goldman Sachs, the way we're taking down RushBeckistan, than elect another "better" Democrat who's going to wind up singing for the bankster choir.

        by Words In Action on Sat Apr 27, 2013 at 06:30:23 PM PDT

        [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site