Top Of My Head

Thoughts on everything from Politics to Video Games

Tag: individual taxes

Tax Receipts By Source 1934 – 2011

I saw the below image on Facebook.  It was posted by a group called the Other 98%.  I wanted to see, before I shared it, if it was true.  So, I went looking for the data.  I found a spreadsheet on The White House U.S. Office of Management and Budget. I didn’t find any data to support the picture, but I did find something else just as interesting.

$0.22 for every dollar paid by the American Worker.

Sad Tax Data

In 1934, the tax receipts totaled (not including Social Security)  $784 million dollars – 53.57% was Individual Income Taxes and 46.43% was Corporate Income Tax.  In 2011, the tax receipts totaled (not including Social Security) $1,272,558 million – 85.77% was made up from Individual Income Tax and only 14.23% came from Corporations.

I don’t believe they’re paying their fair share, do you?

 

Debt Ceiling

I could go over Obama’s talk from last night and cover the whiner, Boehner’s dismal response, but I won’t.  I was going to post my own economic research, but I found an article on The Coffee Party website.  I think it is a pretty level headed response to what is going on in this country.

So, please go over there and read it.

The graph regarding the comparison between individual and corporate taxes is enough to make you sick.  It is, also, one of the reasons that the middle class’s wages have been stagnate.  I’m going to blame the lack of hiring in this jobless recovery on it as well.  If there is no incentive to hire someone, corporations aren’t going to do it.

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