tag:blogger.com,1999:blog-26981669.post4104374483403548361..comments2024-03-23T10:55:30.196-05:00Comments on Cold Fusion Guy: Taking all of "the rich's" income isn't enough!Jim Peethttp://www.blogger.com/profile/07649414726939918803noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-26981669.post-37729164916430322052013-04-01T05:09:05.661-05:002013-04-01T05:09:05.661-05:00Banking Industry (financial trading) accounts for ...Banking Industry (financial trading) accounts for about 40% of GDP (and growing). Most countries Banking Industry pays about 1% tax over activity. A lot of internet business pays about 1% or less in a lot of countries, although they benefit from infrastructure. The average family pays about 40% in several taxes. Your whole perspective can't be right, Exxon profits alone account for 40M/year, Chevron 26M, Ford 20M....Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-26981669.post-52516961898458240652010-09-28T15:49:49.047-05:002010-09-28T15:49:49.047-05:00Just for kicks, run some of the numbers. There a...Just for kicks, run some of the numbers. There are currently about 115 million households, most of which ought to be filing tax returns (even those who like me owe no taxes), but the WSJ suggests that 3.8 million is 7% of all tax returns--which would mean only about 56 million tax returns.<br /><br />If I'm calculating correctly, those earning more than $388k are actually 2-3% of the population, and those earning more than $200k are 5-6% of the population--remember about married couples filing together. <br /><br />This means that the amount of income allocated to the "rich" isn't nearly as grossly disparate as many analysts note--and hence what you can get out of "the rich" is far less than one would think.Bike Bubbahttps://www.blogger.com/profile/08193546045614393425noreply@blogger.com