They are unbelievably nauseating. They are the antithesis of humankind. I would like to see somebody dig a very, very large, exceedingly deep hole and drop the whole bloody lot down it. Following the end of the tour in late December, three concerts were arranged in the Netherlands for January The band, hungover, boarded a plane at London Heathrow Airport early on 4 January; a few hours later, the Evening News was reporting that the band had "vomited and spat their way" to the flight. In February , word leaked out that Matlock was leaving the Sex Pistols.
He claimed that Matlock had been "thrown out The Beatles was too much. His mum didn't like the songs. He said it declared us fascists. He was also credited with introducing the pogo dance to the scene at the Club.
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John Robb claims it was at the first Sex Pistols residency gig, 11 May ; Matlock is convinced it happened during the second night of the Club Punk Special in September, when the Pistols were off playing in Wales. He always thought of it in terms of opposing camps". Julien Temple , then a film student whom McLaren had put on the Sex Pistols payroll to create a comprehensive audiovisual record of the band, concurs: The other two just thought he was crazy.
Pogoing aside, Vicious had been involved in a notorious incident during that memorable second night of the Club Punk Special. Arrested for hurling a glass at The Damned that shattered and blinded a girl in one eye, he had served time in a remand centre—and contributed to the Club banning all punk bands. He was the knight in shining armour with a giant fist.
Sid really tried hard and rehearsed a lot". It would just be for the sensationalism and scandal of it all. Then it became the Malcolm McLaren story". Membership in the Sex Pistols had a progressively destructive effect on Vicious. As Lydon later observed, "Up to that time, Sid was absolutely childlike. Everything was fun and giggly. Suddenly he was a big pop star. Pop star status meant press, a good chance to be spotted in all the right places, adoration. That's what it all meant to Sid. Lydon later wrote, "We did everything to get rid of Nancy She was killing him.
I was absolutely convinced this girl was on a slow suicide mission Only she didn't want to go alone. She wanted to take Sid with her She was so utterly fucked up and evil. Vicious smashed in a toilet bowl and cut his foot—there is some disagreement about which happened first. As Vicious trailed blood around the offices, Rotten verbally abused the staff and Jones got frisky in the ladies' room. Twenty-five thousand copies of the planned "God Save the Queen" single, produced by Chris Thomas, had already been pressed; virtually all were destroyed.
Virgin was more than ready to release "God Save the Queen", but new obstacles arose. Workers at the pressing plant laid down their tools in protest at the song's content. Jamie Reid's now famous cover, showing Queen Elizabeth II with her features obscured by the song and band names in cutout letters, offended the sleeve's plate makers. I don't even know the name of the Prime Minister. The Virgin release had been timed to coincide with the height of Queen Elizabeth's Silver Jubilee celebrations. By Jubilee weekend, a week and a half after the record's release, it had sold more than , copies—a massive success.
The event, a mockery of the Queen's river procession planned for two days later, ended in chaos. Police launches forced the boat to dock, and constabulary surrounded the gangplanks at the pier. While the band members and their equipment were hustled down a side stairwell, McLaren, Westwood, and many of the band's entourage were arrested.
As it turned out, the record placed second, behind a Rod Stewart single in its fourth week at the top. Many believed that the record had actually qualified for the top spot, but that the chart had been rigged to prevent a spectacle. McLaren later claimed that CBS Records , which was distributing both singles, told him that the Sex Pistols were actually outselling Stewart two to one. There is evidence that an exceptional directive was issued by the British Phonographic Institute, which oversaw the chart-compiling bureau, to exclude sales from record-company operated shops such as Virgin's for that week only.
Attacks on punk fans were on the rise and in mid-June Rotten himself was assaulted by a knife-wielding gang outside Islington 's Pegasus pub, causing tendon damage to his left arm. Jamie Reid and Paul Cook were beaten up in other incidents; three days after the Pegasus assault, Rotten was attacked again. A tour of Scandinavia, planned to start at the end of the month, was consequently delayed until mid-July.
In Oslo, Lydon posed in front of the photographs making the Nazi salute while wearing a sweater with a Swastika drawing. Jones replied, "He's our manager, that's all. He's got nothing to do with the music or the image All we're trying to do is destroy everything. McLaren had wanted for some time to make a movie featuring the Sex Pistols. Julien Temple's first major task had been to assemble Sex Pistols Number 1 , a twenty-five-minute mosaic of footage from various sources, much of it refilmed by Temple from television screens. After a single day of shooting, 11 September, production ceased when it became clear that McLaren had failed to arrange financing.
Since the spring of , the three senior Sex Pistols had been returning to the studio periodically with Chris Thomas to lay down the tracks for the band's debut album. Luckily he had hepatitis at the time. Given Vicious's incompetence, Matlock had been invited to record as a session musician. In his autobiography, Matlock says he agreed to "help out", but then suggests that he cut all ties after McLaren issued the 28 February NME telegram announcing Matlock had been fired for liking the Beatles.
It was Jones who ultimately played most of the bass parts during the Bollocks recordings; Howard calls his rudimentary, rumbling approach the "explosive missing ingredient" of the Sex Pistols' sound. Jones recalls, "He played his farty old bass part and we just let him do it. When he left I dubbed another part on, leaving Sid's down low.
I think it might be barely audible on the track. Containing both "Bodies"—in which Rotten utters "fuck" six times—and the previously censored "God Save the Queen" and featuring the word bollocks popular slang for testicles in its title, the album was banned by Boots , W. The album title led to a legal case that attracted considerable attention: The case was thrown out when defending QC John Mortimer produced an expert witness who established that bollocks was an Old English term for a small ball, that it appeared in place names without causing local communities erotic disturbance, and that in the nineteenth century it had been used as a nickname for clergymen: Steve Jones off-handedly came up with the title as the band debated what to call the album.
An exasperated Jones said, "Oh, fuck it, never mind the bollocks of it all. After playing a few dates in the Netherlands—the beginning of a planned multinational tour—the band set out on a Never Mind the Bans tour of Britain in December Of eight scheduled dates, four were cancelled due to illness or political pressure. Before a regular evening concert, the band performed a benefit matinee for the children of "striking firemen, laid-off workers and one-parent families. Originally scheduled to begin a few days before New Year's, it was delayed due to American authorities' reluctance to issue visas to band members with criminal records.
Several dates in the North had to be cancelled as a result. McLaren later admitted that he purposely booked redneck bars to provoke hostile situations. Early in the tour, Vicious wandered off from his Holiday Inn in Memphis , looking for drugs. When he was ultimately found, he received a beating from the security team hired by Warner Bros.
Offstage he is said to have kicked a female photographer, attacked a security guard, and eventually challenged one of his own bodyguards to a fight—beaten up, he is reported to have exclaimed, "I like you. Now we can be friends. Rotten, meanwhile, suffering from flu  and coughing up blood, felt increasingly isolated from Cook and Jones, and disgusted by Vicious. At the end of the song, Rotten, kneeling on the stage, chanted an unambiguous declaration, "This is no fun.
This is no fun—at all. Ever get the feeling you've been cheated? Good night"—before throwing down his microphone and walking offstage. Sid was completely out of his brains—just a waste of space. The whole thing was a joke at that point He would not discuss anything with me. But then he would turn around and tell Paul and Steve that the tension was all my fault because I wouldn't agree to anything. On 17 January, the band split, making their ways separately to Los Angeles. Vicious, in increasingly bad shape, was taken to Los Angeles by a friend, who then brought him to New York, where he was immediately hospitalised.
In Jamaica, Branson met with members of the band Devo , and tried to install Rotten as their lead singer. Devo declined the offer,  which Rotten also found unappealing. Cook, Jones and Vicious never performed together again live after Rotten's departure. Over the next several months, McLaren arranged for recordings in Brazil with Jones and Cook , Paris with Vicious and London; each of the three and others stepped in as lead vocalists on tracks that in some cases were far from what punk was expected to sound like.
These recordings were to make up the musical soundtrack for the reconceived Pistols feature film project, directed by Julien Temple, to which McLaren was now devoting himself. On 30 June, a single credited to the Sex Pistols was released: In return for agreeing to record "My Way", Vicious had demanded that McLaren sign a sheet of paper declaring that he was no longer Vicious's manager.
Among the claims were non-payment of royalties, improper usage of the title "Johnny Rotten", unfair contractual obligations,  and damages for "all the criminal activities that took place". Lydon performed with the band through , as well as engaging in other projects such as Time Zone with Afrika Bambaataa and Bill Laswell.
Vicious, relocated in New York, began performing as a solo artist, with Nancy Spungen acting as his manager. On 12 October , Spungen was found dead in the Hotel Chelsea room she was sharing with Vicious, with a stab wound to her stomach  and dressed only in her underwear. In an interview at the time, McLaren said, "I can't believe he was involved in such a thing. Sid was set to marry Nancy in New York.
He was very close to her and had quite a passionate affair with her. While free on bail , Vicious smashed a beer mug in the face of Todd Smith, Patti Smith 's brother, and was arrested again on an assault charge. On 9 December he was sent to Rikers Island jail, where he spent 55 days and underwent enforced cold-turkey detox.
He was released on 1 February ; sometime after midnight, following a small party to celebrate his release, Vicious died of a heroin overdose. Reflecting on the event, Lydon said, "Poor Sid. The only way he could live up to what he wanted everyone to believe about him was to die. That was tragic, but more for Sid than anyone else. He really bought his public image. On 7 February , just five days after Vicious's death, hearings began in London on Lydon's lawsuit.
Cook and Jones were allied with McLaren, but as evidence mounted that their manager had poured virtually all of the band's revenue into his beloved film project, they switched sides. On 14 February, the court put the film and its soundtrack into receivership —no longer under McLaren's control, they were now to be administered as exploitable assets for addressing the band members' financial claims. McLaren, with substantial personal debts and legal fees, took off for Paris to sign a record deal for an LP of standards, including " Non, je ne regrette rien ".
A month later, back in London, he disassociated himself from the film to which he had devoted so much time and money. In the mids he released a number of successful and influential records as a solo artist. The Great Rock 'n' Roll Swindle , the soundtrack album for the still-uncompleted film, was released by Virgin Records on 24 February It is mostly composed of tracks credited to the Sex Pistols: McLaren himself takes the mic for a couple of numbers.
Several tracks feature Rotten's vocals from early, unissued sessions, in some cases with re-recorded backing by Jones and Cook. There is one live cut, from the band's final concert in San Francisco. The album is completed by a couple of tracks in which other artists cover Sex Pistols classics. The Sex Pistols film was completed by Temple, who received sole credit for the script after McLaren had his name taken off the production. It is a fictionalized, farcical, partially animated retelling of the band's history and aftermath with McLaren in the lead role, Jones as second lead, and contributions from Vicious including his memorable performance of "My Way" and Cook.
It incorporates promotional videos shot for "God Save the Queen" and "Pretty Vacant" and extensive documentary footage as well, much of it focusing on Rotten. In Temple's description, he and McLaren conceived it as a "very stylized They were reacting to the fact that the Pistols had become the "poster on the bedroom wall of the day where you kneel down last thing at night and pray to your rock god.
And that was never the point The myth had to be dynamited in some way. We had to make this film in a way to enrage the fans". Cook and Jones continued to work through guest appearances and as session musicians. In , they formed The Professionals , which lasted for two years. Jones went on to play with the bands Chequered Past and Neurotic Outsiders. He also recorded two solo albums, Mercy and Fire and Gasoline. Now a resident of Los Angeles, he hosts a daily radio program called Jonesy's Jukebox. Having played with the band Chiefs of Relief in the late s and with Edwyn Collins in the s,  Cook is now a member of Man Raze.
Following The Rich Kids' break-up in , Matlock played with various bands, toured with Iggy Pop , and recorded several solo albums. He is currently a member of Slinky Vagabond. The court ruling had left many issues between Lydon and McLaren unresolved. Americans are rich by world standards. Even if you end up being the most mediocre producer, you are still miles ahead of much of the world. Good to know that many of you are doing well. If only we could get all American wage earns to pay some taxes, it would go a long way to help shoring up our budget. We are all in this together!
An increased standard deduction for those over 65, and an exemption on part of Social Security earnings, means that many older Americans pay no income taxes. Please remember though that the elderly have paid their dues through decades worth of federal taxation during their careers. This leaves us with a low-income group that may have made some suboptimal decisions such as having children while not being able to support themselves.
Perhaps having multiple children on a low income is not ideal. But, how do you deny passion? Half the battle is just moving to a vibrant location such as the San Francisco Bay Area where billions of dollars are flowing in due to technology innovation. Why not take advantage? Spend some time online understanding global wages from our biggest competitors in China and India.
In order to maintain our incomes, we must constantly be updating our skills. There are plenty of six figure jobs out there for the taking. You just need to have the desire, motivation, work ethic, and perseverance to get there. There are six figure earners in practically every single industry, including the non-profit industry!
Back to my point where if everybody earns a million dollars a year, nobody is rich. Alas, the rich pay almost double what they owe. If you get to drive on interstate highways, you should pay taxes. We are in the technology and internet age now. If you really want unlimited earnings potential, you might as well be your own boss someday. It costs so little now to just start your own website so you can brand yourself online, connect with like-minded people, find new job and consulting opportunities, and potentially make a healthy living online.
Take a look at this income statement example of a friend with a simple personal finance blog. The are many ways to make money online if you have a brand and the traffic. I started Financial Samurai in as a hobby to help make sense of the financial destruction. Bluehost is optimized for WordPress and has great service and speed. Everybody should start something on the side. The key is to adopt an abundance mentally and just try. The things you do now could change your life forever! The other action item wealthy people do is track their net worth. You can only truly optimize your wealth if you know where all your money is going!
In addition to better money oversight, run your investments through their award-winning Investment Checkup tool to see exactly how much you are paying in fees. Input various expense and income variables to see how you stand. Try it out yourself for free. Your future is too important not to take it seriously. I continually feel very blessed to be living in the U. Having this type of income in this location is the best of both worlds. At ages 26 and 25, me and my wife are living the life of our dreams. We have a great house that we love, we give a good amount of money away, we invest in more real estate, we save a huge chunk every month for retirement, and we also spend a good deal of money each month doing the things we love golfing!
We consider ourselves extremely blessed, to say the least. To be born at this point in time, in this location of the world is a bit like winning the lottery with even bigger odds. We recognize the responsibility that goes along with this. Curious, what life were you born into? Were your parents middle class, upper, lower? To be so young and so well off, chances are you were either extremely lucky or you had a head start.
This was 7 years ago and hopefully your out of bankruptcy court by now. Why do mostly Americans say the dumbest things like say they are blessed to live in the US where you can achieve your goals or whatever. Or you can live in Red China who are so rich they loan us Billions every year, have bought up most of America. And in a couple years they will be the biggest super power in the world.
Maybe then goals will be unobtainable do to our weak standing in the world and the rise of China who have already taken over the world as leaders and our silly anti science mentality and year old archaic beliefs in some Mumbo Jumbo crazy beliefs will be the death of this nation. Look at the biggest god living countries. Most of those places are uninhabitable.
Look at the Bible Belt where most people have just given up on education and the English language. The natives there think science is the devil and so are Liberals as they drive around in their science cars talk on their cells and collect welfare checks. Not an intelligent race. With little money put into schools or something to do the tribes are not educated and drag this country down.
Back before science when doctors operated on people while they were awake until they almost always died. God will protect them. Well he was AWOL again until science came to the rescue. Wow I got really sidetracked. I wanted to talk about when somebody interviews somebody from say Georgia says.
Most of these people have never left their state or own a horseless carriage. How do they know. I can think of many better countries. Not to get into it but they are all atheist majority countries. Instead of people being killed by a gun annually their are 2 or 3. Gov is not corrupt schooling including university is free as well as healthcare. Yes taxes are a lot more but you get something in return. Funny how Trump says our military is in disrepair.
The equipment is old and unusable. Worst the military has ever been. The next country I think is China which less than half that we do. Over B every year and all because we go around and kill people which pisses them off and they hate us so they retaliate. Thankfully no one will read this and I got my venting out for the week. Most countries have it and a lot have more freedom than we do. And to the jesustards down southb. In your diatribe above , you have incorrectly stereotyped a Christian as someone who is an uneducated ignorant gun wielding Caucasian wife beater from the south.
I am NONE of those things! Our family is well educated and we worked long hard hours for our freedom and relative affluence. In addition, we know a thing or two about freedom and the loss of it as my maternal grandfather was TORTURED by the Japanese when they invaded China in WWII and my paternal grandfather had his entire transportation business and all his wealth stripped from him as the communists took over China. If you are implying that China is awesome because they own America, you are wrong there too. China is quietly allowing Christianity to proliferate in hopes that some of the most egregious ethical violations of humanity will subside.
China is not an ideal place to live. Most of the middle class in China are doing everything they can to leave the country. America is not perfect, but for its size and diversity, it is still the most amazingly free and affluent country in the world. How can you compare a small one race country with the United States? Your little rant was offensive and reveals your ignorance and hypocrisy. You name call and sound like a complete retard in your tactless factless rage rant. When you get called on it, might I say got your ass handed, you reply with the usual libtard reply of racism,sexism, or any stupid isms you can grasp at.
Where are you from? Maybe you have visited Ga because you had to leave the North or West because the jobs disappeared and cost of living is thru the ceiling. A lot of Yankees are coming to Ga and trying to change it to a blue state while not realizing why they left their shit hole ran into the ground with their liberal regulations! As for Trump, he is kicking ass and will be hailed as the most successful president in the last years.
I could go into the facts but I think you will have a liberal meltdown. I feel excited looking at these stats. I feel excited too. Hopefully people realize that making money is much easier than it seems, especially if one lives in America. Just had this convo with my dad the other day….. Sometimes I forget, but today I remember, especially after reading this. I agree that we should not punish anyone who works hard to make it up the income ladder.
But then again we are becoming a welfare state where more and more people less then half my age are on welfare, food stamps, medicade, and have HUD paying for their housing. I guess I am getting tried of working hard all these years for those who dont. Respectfully disagree sunil… Health, family care responsibility including parents and opportunity are all factors which can rob that person from achieving their full potential.
I came from welfare and thanks to education and an ambitious spouse, we are living beyond what I ever thought possible. I do that for about 6 weeks every year — it is great! Are those income percentages top 1 percent, 5 percent, etc for sole income wage earners, or what married couples submit to the IRS? I have always felt incredibly lucky to have been born in the US. I know a ton of people that emigrated to the US, and are incredibly successful.
Then I get frustrated with those who were born here and have chosen not to take advantage of all the opportunities we have to offer in America. The figures are based on individual income tax returns according to taxfoundation. It must be good to be King! I realize as income increases that I have more choices to reduce my AGI! The effective tax rates are fairly low comparatively relative to the earnings. These statistics motivate me to earn more because it makes me realize I will keep more of my earnings!
Even just a little bit? You will notice the effective tax rate of the high income earners is considerably below the maximum tax rate. They are paying on a net effective rate lower taxes than people who earn considerably less.
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The basis for the progressive tax system is to give a break to lower income earners. Too often, Congress looks for an easy answer versus really solving the problem. For the record, I think it will take a combination of cutting spending and raising taxes, but I have little confidence that it will be fair! Ok, so even though the highest income earners pay a higher effective tax rate and a mug large absolute tax amount, you still want to tax them more even though half the working American population pays nothing? Please address your thoughts on the bottom half.
Those are regional taxes that vary with benefits from area to area. FICA payroll taxes are not considered a tax since you will supposedly get some of that money back as social security. Sure, but you have to contribute something to the payment, not just gas. At a time when so many Americans are unemployed or underemployed, I find it amazing how some pundits whine about millionaires having to pay anymore!
Sure, the highest income earners pay a larege absolute tax amount, but they also keep a large absolute amount! Everyone in America should contribute something! You never appreciate a free lunch as much as the one you paid for. The free lunches thinks what else is included with this meal. I feel great to be an American. This was an excellent article. That is sort of sobering.
How Much Money Do The Top Income Earners Make?
That is the American spirit we must all embrace! Big money should be paying their share. Driving on an interstate does cost any income tax payer because that money is paid at the pump. Interesting to hear some of you talk about how living in more rural parts of the country saves you quite a lot of money. I did a post on this two days ago. I figure that by the time interest is calculated over the lifetime of the mortgage I saved about half a million dollars on my house by choosing not to live in a big city.
Qatar I can understand due to the low population and surge of oil money, but the rest really surprise me. I would have never thought Norway would be ahead, even with their recent oil findings.
Their tax rates are ridiculously high, and if that is the average income, imagine all that money the government has to play with re: Norway spreads it wealth to its people. One year off for both parents after a birth. It was just listed as the happiest country in the world. They use there taxes wisely.
At the end of the day, our tax policy is set not by sound financial principals or fairness, but by politics. Did someone out a gun to these writers heads and force them to writefor free? You will feel so wealthy afterwards! Or you could just go to Detroit…just think of all the money you could save. Sorry you can afford it. How much money do you really need? Is gas, electricity, food and other things 10x cheaper for this person? The ironic thing for me is I only got to be in the upper percentages after moving out of the USA 5 years ago- that is just twisted!
By the way, the effective tax rate applies to Federal taxes only, still have state, FICA and local taxes to deal with! Yep, these tax rates are only Federal Tax rates unfortunately. Tax us baby to death! Tax rates in the US are small compared to most of the first world but it seems that more people complain there than anywhere else. Continuation of my reply: No problem, I am astute enough tax savvy to keep my effective tax rate reasonable! We want them to save, stay out of debt and flourish, just like everyone.
Additional taxes will drive more people into poverty which means more government programs. There no easy answer to this. Thanks for your thoughts. Are kids really expensive though? Which is why birth control and condoms should be free at any public clinic, no matter your age or income and whithout requiring parental consent — as they are in the UK, Europe, and the rest of the civilized world! We must be willing, as a nation, to provide birth control and higher education at low costs, to young people especially, so that they may better themselves and become productive and tax-paying members of society.
By the way, as you pointed out, the top 1 percent has become too inclusive a bracket. Especially since the latter two end up not paying anything; Warren Buffet said himself that due to loop holes, his secretary pays more taxes than he does! Hopefully people can stop lumping them two together as it is a BIG difference! I hope you know he was being disingenuous and acting as a political hack. The trick is he makes hundreds of million dollars but pays himself a paltry income of like 50 to 70k. So his taxes are at those rates.
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The real income is from dividends of the interest and earnings of his portfolio. He is a liar. He was pointing out how people that make money from capital gains and work the same hours can pay less than someone making labor wages working the same 40 hour week and making a th of what the other guy makes. Capital gains taxes should be higher for people that are millionaires. I say the USA is the land of opportunity which gives you the chance to move up the money ladder. Are you saying this from experience or conjecture? Now I feel even better looking at those stats!
Jean Chatzky mentioned in a recent book not to compare ourselves with those doing better than us, but with those worse off. Education is a key driver of higher income. Wow, had no idea Qatar and Luxembourg were that high. Can you post the stats for the top 0. I definitely feel lucky to be living in America. I was surprised the Singapore was ranked in the top ten.
Consequently, housing prices are just insane. This is such a brilliant comment! Raise their taxes, and they will raise your rent. Raise their taxes, and your Big Mac will cost more. The costs will always shift from those that have and produce to those that need and spend. Does that mean that no matter how high they raise their prices tax increase or not that we have to buy it? Or will we be able to buy it with our stagnant real wages the last 20 yrs.? They already know how much they can hike prices before they start losing customers. Tax or no Tax. So raising prices is the last thing they will do.
They will more likely try to cut costs if they can, or accept the lower markup, lest they lose any more money customers by hiking prices. You morons think the middle class survive via the rich. But the opposite is true. They need us more than we need them.
When this country was born the people were mostly self sufficient. There were no rich people or big corporations. Let them raise their prices. We will then hold out for more pay or not make their products for them or run their businesses for them. You are too spineless to stand up to crooks for yourselves or your wives and kids. Get off your knees and stand up for solidarity like the greatest generation before us did and fought for the middle class. Which built this economy not the swindlers and crooked business owners.
The race to the bottom continues. I was struck by what was not said. So they pay about twice what they would in a non-progressive income tax. While the payroll taxes are essentially regressive, ending at about ,, meaning the lower income, the ones you refer to as paying no taxes, shoulder a larger proportion of that tax. The question is if you increase their taxes would you recoup the cost in the increase in social programs, when more of them become homeless or need to turn to government funded emergency rooms for medical care?
Engaging in two wars without increasing government income in ludicrous. The people of America thank you for contributing more! You can send extra payments to the IRS directly, but will you though? It should also be determined by a persons ability to pay or wealth. Two people can have the same income but if one has no other assets like stocks, bonds, trusts, insurance policies, owned real estate etc. He can not pay his taxes if he gets a costly illness or interruption of income, as easily as the person who does have these other assets, as a safety net.
So their should also be a small wealth tax added for the rich. Based on how much more than k they make. This would also help alleviate the extreme inequality in wealth in this country which is worse than all of the western European countries. Inequality hurts economies because huge numbers of people can not acquire a decent education and good paying jobs.
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Lets not make more welfare states like Mississippi, Alabama, and so many other Republican states down south with their low taxes and lousy wages. And lousy education and healthcare. Finally, it is fair for the wealthy to pay more not only because of their greater ability to pay, but because they benefit much more from all this country has to offer.
The business man benefits much more from economic infrastructure such as highways, railways, airports, air traffic control and navigation satellites, Harbors, shipping lanes and navigable waterways, locks and dams, power grids, public education, and protection of his great wealth through police and fire protection, than the private citizen does. Just to name a few. This country once had much higher taxes especially the wealthy, than it does today. And it grew much faster with less inequality than it has in the last 20 years.
In fact it grew faster then and the middle class was much larger and prosperous then than any time in U. Which ended with the great depression. However, I do believe everybody who makes an income should pay some federal income taxes so we all are contributing in this way. Not massive, but that goes a long way to fund various educational endeavors.
I think that everybody should pay something in taxes too. If not, then we live in a welfare state and we all know that such a system eventually fails, especially for the next generation. And for such a system to work it need to be fair. What incentive do I have to bust my butt if all my income accumulated and saved goes to some grasshoper from the grasshoper and the ants story that just partied? Because we are heading towards Socialism and should accept it as a way of living for the next 5.
There is still sales tax highly regressive, since rich people save more money or reinvest and property tax which you pay via rent if you have a landlord. Additionally, I see a huge unmeasurable benefit from giving the low earners a tax break, which makes them less likely to turn to illegal activities that could make my life less safe. Taxing the rich a bit more to avoid the poor turning towards more crime or starting a revolution is wise. Food stamps are wise they stimulate the economy much more than they cost. Free education is wise. We live in a country with an ok but not great balance of fair and wise.
Also another thing they conveniently forget to mention is that taxes should be based more on ability to pay wealth than just on income. So every year instead of saving say 10k, you save k. Your after tax income on k is about k if you are a normal W2 tax payer. Saving k is doable, but it is certainly not easy if you have any dependents. Should t we encourage the person making 50k to develop skills and try and earn more in America?
One can start a blog and work 30 hrs a week on it for two years and make 50k for example! Now you state that it would not be easy for someone making K to save K per year. You need to put things in perspective. It is easier to accumulate wealth with higher earnings, because the minimal cost of living does not change. Perhaps some people without good financial decision-making skills manage to not accumulate wealth and spend all of their money.
I am not against everyone paying their dollar to the government, but I am also not against higher taxes for high earners. In America, nothing is stopping them from increasing their income. They can start a blog and several years later make 50k no problem. If not, how would you expect the average person to save anything at all? The average person only earns about 33K according to your chart. Jenna, unless you make k, you had no idea whether it is easy, or how you will feel regarding the progressive tax structure we have.
You should just be happy and offer to pay more taxes to help out by sending more in to the IRS. But, I really do enjoy debating with people who have just speculate and have no idea: However, I, being closer to that than you are, can understand it better than you. So, I guess no one can have a proper debate because everyone comes from a different place.
Nobody just wakes up one day and makes K. They work towards that figure over their careers. Every 50 year old was 21 years old once. It might be best if you debate someone who also is just speculating. I follow you Janna. There are a certain number of fixed costs needed in life. They may have higher fixed costs but that is only through want, not need. If they are unable to save then they are living a lavish lifestyle that will one day become unsustainable. Statistics can be very deceiving. Lets take a look at the average income by group:. The point being that statistics can be presented in any manner to support a myriad of points.
When you start dissecting the data in an meaningful way you can clearly start to understand the relative burden imposed on each income group. Where do you get the averages? You saying half the US population only makes what they can at McDonald's? I have my doubts. However, everybody should remember that all this is calculated based on the returns which include single, married filing jointly, etc.
Incomes, especially those in the upper range, fluctuate with the economy. Why should they have to pay more? Because they have the ability? Nothing is stopping you from making more money.
What is your effective tax rate? The progressive nature of the federal income tax is supposed to compensate somewhat for the regressive nature of those other taxes, but it does not compensate completely for it. What is NOT fair is that those who are benefiting most from our plutonomy and who can afford to pay more in taxes are paying lower rates than they have since the s. And those lower rates are NOT resulting in more job creation. If they were, we would have had an increase in job creation since the Bush tax cuts went into effect.
Instead we have had a decrease. Even with the lower earners paying no federal income tax, we have the greatest wealth inequality in the industrialized world. Our ranking is even worse than that of some third-world countries. We have also moved in the last thirty years from a high score in social mobility to a low score—lower than Canada and most of the European nations. The gap between the rich and the rest has become a national disgrace—along with our crumbling infrastructure and lack of universal access to high quality health care.
All of these problems can be solved, but not as long as the GOP makes keeping taxes low for its wealthy overlords its highest priority and insists on just doubling down on the failed policies low taxes for the wealthy and deregulation of the last thirty years. We need to put unemployed construction workers back to work repairing and building schools, highways, bridges, pipelines, the electric grid, the broadband system, etc.
We need research and development of green energy and other innovative technologies. We need world-class public education to prepare the workers of tomorrow. However, we will never get anything this country really needs if people keep putting backward Tea Party Republicans in office. All we will get is disastrous cuts to Medicare, Medicaid, Social Security, and all programs that help the poor and the middle class—and more welfare for the rich and corporations in the form of subsidies, credits, tax loopholes, and low tax rates.
As long as money is able to play the leading role in our politics, as it does now, yahoos who do not respect workers, scientific knowledge, or the egalitarian principles that made this country great in the past will continue to win enough elections to stop our problems from being solved. Where do you get 2. What Sandra is saying is that the rich historically have paid much higher rates than they are currently paying. So, if all they know is the rates they have been paying over the past 40 years, they should be happy to now be paying such a relatively low rate.
And over the past few years as wealth has declined, it has declined at a greater rate for the bottom groups. In CEOs made 42 times the pay of the average worker. What we know is what we know in our working lifetimes. Can you come back and figure out what the income levels were for those top marginal tax rates then? That would be an interesting discussion. It would just be better that we do it after I retire so I can join you and get that wealth redistributed to us! I was just explaining that. I assume you were alive in You may not have been working, but many of the rich were working in and know what it was like paying that level.
Certainly not for your fellow tea partiers who love to talk about the Founding Fathers. What wealth is being redistributed to me??? As everyone knows, statistics can be very misleading, often intentionally by the person citing them. But sometimes, the person citing them may not even understand them. Imagine a society in which there are a hundred people, and one person earns 20 million dollars.
The other 99 people earns zero dollars. Flat tax rate of. The one person pays 1 dollar in taxes. The rest of the people pays zero dollars in taxes. I do believe the stats from the IRS. Without looking at how much people at the top, middle, and bottom earn and everything in between , it means nothing. Is that what you think would be fair? In answer to your question — my federal effective tax rate last year was Are you missing the point of the article, which is simply to highlight how much people make? When you get to the highest effective tax rates in the chart, pls let me know, so we can have a balanced argument.
Then you factor in the flat-tax factor of taxing on purchases. THAT is where the lower half pays a higher percentage of their income. How much food, household goods, entertainment expense, etc is purchased kind of flattens out as income gets higher, while savings grows. How much of your income do you actually spend? The Alibris Blog Can't get enough about books, music, and movies? Check out these wonderful and insightful posts from our editors Browse Now.
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