WTF is OWS?
Interesting... the top 1% pay for 55% of the taxes that go in each year. As of today, 47% of all US citizens do not pay taxes, not a single dime, for whatever reason. So, it would seem he has studied the issue, as these are things he talks about during his rant.
Is it? Ever wondered from where all this money from the 1% comes from? Ever wondered how does profit happens on our society. Because, for Adam, this literate genius, profit and wealth comes magically when you work hard enough.
Based on this great intelectual, everyone could drive sport cars if they worked hard enough, even the guy who is cleaning the bathrooms at Ferrari. There´s no such a thing as exploration. There´s no such a thing as social conflict. Everyone can be equally rich at the same time, it is just a matter of work hard instead of being jealous.
That´s why, in a hundred years, people are still going to study such a clever speech from this video.
Is it? Ever wondered from where all this money from the 1% comes from? Ever wondered how does profit happens on our society. Because, for Adam, this literate genius, profit and wealth comes magically when you work hard enough.
Based on this great intelectual, everyone could drive sport cars if they worked hard enough, even the guy who is cleaning the bathrooms at Ferrari. There´s no such a thing as exploration. There´s no such a thing as social conflict. Everyone can be equally rich at the same time, it is just a matter of work hard instead of being jealous.
That´s why, in a hundred years, people are still going to study such a clever speech from this video.
Interesting... the top 1% pay for 55% of the taxes that go in each year. As of today, 47% of all US citizens do not pay taxes, not a single dime, for whatever reason. So, it would seem he has studied the issue, as these are things he talks about during his rant.
This statistic simply isn't real-- at least not functionally.
The 47% conservatives throw around refers only to federal income taxes. There is still an automatic 7.5% federal payroll tax that working people pay (which is matched by employers with another 7.5%) in addition to whatever state, local, property and sales tax they pay. The number of people who pay no federal income nor payroll tax is around 18%.
FWIW the payroll tax is actually capped so that everyone who earns over $100k year pays the same amount (not percent). So while I pay 7.5% in payroll tax a person making $200k functionally only pays about 3.75%. Theoretically the payroll tax is meant to pay for fixed services (hence the cap) however since medicare and SS are included in discussions of the deficit it's misleading to not include the payroll tax when counting up federal taxes collected (and who pays them).
61% of the 47% who "pay no [federal income] tax" make a household income under $20k. Asking them to pay more is squeezing water from a rock. People forget that you can work a full time job in the US and make $14,500/yr before taxes with no health insurance. We as a culture can either assume that everyone who does that is a lazy unmotivated idiot or we can accept that the world is more nuanced than that and the "hard work = success" motto is at best a best case scenario.
Another thing to consider is the difference between income and wealth. If you make $40k you'll pay 15%+7.5%payroll. If you just have $10billion in the bank that money is untaxed. Even if you invest it you'll still only pay 15% on the profit (capital gains) and no payroll tax. So functionally, the billionaire is paying 7.5% less than the average household. So, a billionaire can easily be part of both the top 1% and the 47% who pay no income tax and the 18% who pay no federal tax or payroll tax.
Anecdotally, I think you'll find very few OWS protestors who fall into that lowest bracket and I think you'll find that most of them are at least middle class and pay taxes. I also think you'll find that most of them are proud to be in the supposed 53% who pay taxes.