Berkeley CSUA MOTD:Entry 28088
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2025/04/07 [General] UID:1000 Activity:popular
4/7     

2003/4/11 [Reference/Tax] UID:28088 Activity:moderate
4/11    http://www.fortune.com/fortune/valuedriven/0,15704,439105,00.html
        What's your share of the cost of the war in Iraq?  This says mine
        is about $13,000.  I say it was money well spent and I'd happily
        have checked off the "use $13,000 of this for the war" box if
        there was a choice for it on the tax forms.
        \_ This whole analysis is bogus. It does not include Social Security
           tax.
           \_ Back to reading comp for you:
                That does not quite tell us who's paying how much for the war.
                Washington collects plenty of taxes besides individual income
                tax (though that's the main one), and the D.C. statmeisters
                have compiled figures allocating the burden of those other
                taxes to families. Include all federal taxes, crunch the
                numbers, and here's how the picture looks:
              Anyway, SS taxes are capped so they won't be nearly as high
              as the income tax burden for the higher earners.  Thank you
              for participating.
              \_ Exactly, that is why all of his handwaving about uneven
                 tax burdens is crap. He does not include SS taxes, which
                 as you point out, fall disproportionately on those making
                 less than the cap ($85,000 last I checked). He does not
                 include sales tax or use taxes or any of the other taxes
                 which do not advance his thesis. After all of that
                 lying, I don't believe he crunched all the numbers. If
                 you do, you are naive.
              \_ All right, I did the math, using:
                 http://www.taxpolicycenter.org/taxfacts/overview/current.cfm
                 for total tax burden. And if anything, he understates
                 his point. If the cost per family is $625, the average
                 family in the lowest quintile pays $21, the highest 1%
                 pays $12,500.
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www.fortune.com/fortune/valuedriven/0,15704,439105,00.html
Better Believe It The richest 1% of families will pay $13,000 for the war, vs. By Geoffrey Colvin What the war costs in dollars is not the most important thing. What it costs in lives and what it achieves are the most important things. Reproduction in whole or in part without permission is prohibited.
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www.taxpolicycenter.org/taxfacts/overview/current.cfm -> taxpolicycenter.org/TaxFacts/tfdb/TFTemplate.cfm?topic2id=20
Composition of Taxes - 10 Tax Burden - 11 Federal Receipts & Outlays 12 Individual 13 Low-Income 14 High-Income 15 Payroll 16 Estate and Gift 17 Corporate 18 Excise 19 State 20 International Tax Facts Column Read the weekly 21 Tax Facts column in Tax Notes Email newsletter Receive periodic updates on Tax Policy Center publications and events go 22 Tax Facts - Overview Overview of federal tax receipts: the composition of federal tax revenues, the income distribution of tax shares and liability, and the changes in total tax burden and as a percentage of GDP over time. Tables: Composition of Taxes * 23 Corporate Income Tax as a Share of GDP, 1946-2002 - historical chart of corporate income tax as share of GDP. Tax Burden * 40 Distribution of EGTRRA Tax Cut - distribution of income tax cut by income, 2001 to 2010. Income Tax - percentage of families whose payroll taxes exceed their income taxes by income level, 1979 - 2000. Copyright 71 Urban Institute, 72 Brookings Institution, and individual authors, 2003.