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What top 1 percent of income earners pay how much of the nations income taxes?
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When do taxes start?
For wage earners: When you exceed a certain threshold of earned income. For taxpayers: Whenever you buy something in a store.
Who pay most taxes rich or poor?
I'm afraid that you may not get the answer that you want with this question. The top 5% of earners in the United States pay over 95% of the taxes. The U.S. has a progressive tax rate system meaning that the more income you earn the higher your tax rate on your earnings will be and therefore, the more taxes you will pay. It all depends on what you call poor people but basically poor people pay no taxes in the United States as far as income tax goes. Our system is set up to redistribute wealth which means we tax higher earners and distribute the money to the lower income earners in the form of money and services.
Who pays no taxes?
50 % of wage earners pay no taxes!!
How many people pay income taxes in California?
35 percent
Do professionals have to pay taxes?
Professional whats?Actually, by law, everyone must pay taxes to the commonwealth in which they live and for any services or products they pay for which are deemed taxable.It's just that the tax laws are written to favor the wealthy.Of course professionals pay taxes...in fact much more than all others combined...and historically....they and the aristocracy were frequently the only ones to do so. More clearly, they use less of the things taxes are needed to pay for...(they don't use public services much), and just as clearly, buy many more things that have sales, excise and other taxes placed on them than those who live at a more substance level.Facts: http://www.taxfoundation.org/taxdata/show/250.html Where the independent and in depth analysis to support (the top 1% of earners pay 40% of all the tax): "This year's numbers show that both the income share earned by the top 1 percent and the tax share paid by the top 1 percent have reached all-time highs. In 2005, the top 1 percent of tax returns paid 39.4 percent of all federal individual income taxes and earned 21.2 percent of adjusted gross income, both of which are significantly higher than 2004 when the top 1 percent earned 19 percent of AGI and paid 36.9 percent of federal individual income taxes." And "The top-earning 25 percent of taxpayers (AGI over $62,068) earned 67.5 percent of the nation's income, but they paid more than four out of every five dollars collected by the federal income tax (86 percent). The top 1 percent of taxpayers (AGI over $364,657) earned approximately 21.2 percent of the nation's income (as defined by AGI), yet paid 39.4 percent of all federal income taxes. That means the top 1 percent of tax returns paid about the same amount of federal individual income taxes as the bottom 95 percent of tax returns."
How does obama feel about taxes?
Given what he has done, He feels that the high income earners are not paying enough taxes.
Do immigrants pay the same amount of taxes as Americans?
Taxes on income earned in the US is the same for all wage earners.
What percent of income does Obama pay in income taxes?
90%
What do the top 1 percent of Americans really end up paying the IRS?
The top 1% of wage earners (those earning over $388,806 a year and who make about 18% of income in the country) pay 39.89% of all federal income taxes. When it comes to total federal taxes (not just income tax), the top 1% paid 28% of taxes.86.27% of federal income taxes are paid by the top 25% of wage earners (those making over $64,702). The bottom 50% of wage earners in the country actually have a negative tax rate due to the payouts from the government being more than they pay in taxes.http://www.ntu.org/main/page.php?PageID=6http://cbo.gov/ftpdocs/88xx/doc8885/EffectiveTaxRates.shtml
When do taxes start?
For wage earners: When you exceed a certain threshold of earned income. For taxpayers: Whenever you buy something in a store.
What is Obama going to do about economy and jobs?
Obama is proposing a 477 billion stimulus bill to create new jobs,through public investments.Also Obama has called fro raising income taxes on the top 2 percent of earners.
Who pay most taxes rich or poor?
I'm afraid that you may not get the answer that you want with this question. The top 5% of earners in the United States pay over 95% of the taxes. The U.S. has a progressive tax rate system meaning that the more income you earn the higher your tax rate on your earnings will be and therefore, the more taxes you will pay. It all depends on what you call poor people but basically poor people pay no taxes in the United States as far as income tax goes. Our system is set up to redistribute wealth which means we tax higher earners and distribute the money to the lower income earners in the form of money and services.
Who pays taxes?
50 % of wage earners pay no taxes!!
Who pays no taxes?
50 % of wage earners pay no taxes!!
How many people pay income taxes in California?
35 percent
Do professionals have to pay taxes?
Professional whats?Actually, by law, everyone must pay taxes to the commonwealth in which they live and for any services or products they pay for which are deemed taxable.It's just that the tax laws are written to favor the wealthy.Of course professionals pay taxes...in fact much more than all others combined...and historically....they and the aristocracy were frequently the only ones to do so. More clearly, they use less of the things taxes are needed to pay for...(they don't use public services much), and just as clearly, buy many more things that have sales, excise and other taxes placed on them than those who live at a more substance level.Facts: http://www.taxfoundation.org/taxdata/show/250.html Where the independent and in depth analysis to support (the top 1% of earners pay 40% of all the tax): "This year's numbers show that both the income share earned by the top 1 percent and the tax share paid by the top 1 percent have reached all-time highs. In 2005, the top 1 percent of tax returns paid 39.4 percent of all federal individual income taxes and earned 21.2 percent of adjusted gross income, both of which are significantly higher than 2004 when the top 1 percent earned 19 percent of AGI and paid 36.9 percent of federal individual income taxes." And "The top-earning 25 percent of taxpayers (AGI over $62,068) earned 67.5 percent of the nation's income, but they paid more than four out of every five dollars collected by the federal income tax (86 percent). The top 1 percent of taxpayers (AGI over $364,657) earned approximately 21.2 percent of the nation's income (as defined by AGI), yet paid 39.4 percent of all federal income taxes. That means the top 1 percent of tax returns paid about the same amount of federal individual income taxes as the bottom 95 percent of tax returns."
Why do the Scandinavian countries have high taxes?
According to the OECD, Denmark (26.4 percent), Norway (19.7 percent), and Sweden (22.1 percent) all raise a high amount of tax revenue as a percent of GDP from individual income taxes and payroll taxes. This is compared to the 15 percent of GDP raised by the United States through its individual income taxes and payroll taxes for instance. In order to raise a lot of income tax revenue, income tax rates in Scandinavian countries are rather high except for that of Norway. Denmark's top marginal effective income tax rate is 60.4 percent. Sweden's is 56.4 percent. Norway's top marginal tax rate is 39 percent. Scandinavian income taxes raise a lot of revenue because they are actually considered flat. In other words, they tax most people at high rates, not just the high-income taxpayers. The top marginal tax rate of 60 percent in Denmark applies to all income over 1.2 times the average income in Denmark. Sweden and Norway have similarly flat income tax systems. Sweden's top marginal tax rate of 56.9 percent applies to all income over 1.5 times the average income in Sweden. Norway's top marginal tax rate of 39 percent applies to all income over 1.6 times the average Norwegian income.
