Unions At The White House–Dividing Up The Pie–Sticking It To The American Taxpayer!

Posted on January 12, 2010. Filed under: Blogroll, Communications, Culture, Demographics, Fiscal Policy, government spending, Investments, Law, liberty, Life, Links, media, People, Philosophy, Politics, Rants, Raves, Regulations, Technology, Video, Wisdom | Tags: , , , |

Glenn Beck Show – January 12, 2009 – Pt 1 of 7

Glenn Beck Show – January 12, 2009 – Pt 2 of 7


Glenn Beck Show – January 12, 2009 – Pt 3 of 7

Glenn Beck Show – January 12, 2009 – Pt 4 of 7

Glenn Beck Show – January 12, 2009 – Pt 5 of 7

Glenn Beck Show – January 12, 2009 – Pt 6 of 7

Glenn Beck Show – January 12, 2009 – Pt 7 of 7


Background Articles and Videos

Summary of Latest Federal Individual Income Tax Data

by Gerald Prante 

Fiscal Fact No. 183 

“…The Internal Revenue Service has released new data on individual income taxes, reporting on calendar year 2007, a year in which the economy remained healthy and continued to grow. Individual income tax collections increased substantially that year, while the overall average effective tax rate remained about the same.

In 2007, the top 1 percent of tax returns paid 40.4 percent of all federal individual income taxes and earned 22.8 percent of adjusted gross income. Both of those figures—share of income and share of taxes paid—are significantly higher than they were in 2004 when the top 1 percent earned 19 percent of adjusted gross income (AGI) and paid 36.9 percent of federal individual income taxes.

The 2007 numbers show that the top 1 percent’s income and tax shares reached all-time highs for the third year in a row. That is likely to reverse direction when data from recessionary 2008 is published a year from now. …”

Table 1

Summary of Federal Individual Income Tax Data, 2007

(Updated July 2009)

  Number of Returns with Positive AGI AGI
($ millions)
Income Taxes Paid
($ millions)
Group’s Share of Total AGI Group’s Share of Income Taxes Income Split Point Average Tax Rate
All Taxpayers 141,070,971 $8,798,500 $1,115,504 100% 100% 12.68%
Top 1% 1,410,710 $2,008,259 $450,926 22.83% 40.42% > $410,096 22.45%
Top 2-5% 5,642,839 $1,286,283 $225,367 14.62% 20.20% 17.52%
Top 5% 7,053,549 $3,294,542 $676,293 37.44% 60.63% > $160,041 20.53%
Top 6-10% 7,053,548 $933,297 $118,139 10.61% 10.59% 12.66%
Top 10% 14,107,097 $4,227,839 $794,432 48.05% 71.22% > $113,018 18.79%
Top 11-25% 21,160,646 $1,817,515 $171,443 20.66% 15.37% 9.43%
Top 25% 35,267,743 $6,045,354 $965,875 68.71% 86.59% > $66,532 15.98%
Top 26-50% 35,267,743 $1,674,859 $117,368 19.04% 10.52% 7.01%
Top 50% 70,535,486 $7,720,213 $1,083,243 87.74% 97.11% > $32,879 14.03%
Bottom 50% 70,535,485 $1,078,287 $32,261 12.26% 2.89% < $32,879 2.99%
Source: Internal Revenue Service



The Top 1% Pays More Income Tax Than the Bottom 95%

“…The Tax Foundation’s Tax Policy Blog:  Tax Burden of Top 1% Now Exceeds That of Bottom 95%, by Scott A. Hodge:

Newly released data from the IRS clearly debunks the conventional Beltway rhetoric that the “rich” are not paying their fair share of taxes. Indeed, the IRS data shows that in 2007—the most recent data available—the top 1% of taxpayers paid 40.4% of the total income taxes collected by the federal government. This is the highest percentage in modern history. …

Remarkably, the share of the tax burden borne by the top 1% now exceeds the share paid by the bottom 95% of taxpayers combined. In 2007, the bottom 95 percent paid 39.4% of the income tax burden. This is down from the 58% of the total income tax burden they paid twenty years ago. To put this in perspective, the top 1 percent is comprised of just 1.4 million taxpayers and they pay a larger share of the income tax burden now than the bottom 134 million taxpayers combined. …”

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