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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: GraceZ who wrote (158482)	10/19/2008 6:02:15 PM
From: ahhaha	Read Replies (1) \| Respond to of 306849

I will answer it. FICA taxes went up as a percentage of total taxes, Is that true? No. In fact, the claim is incoherent. decimating the real income of the lower and middle classes Does that follow by any stretch of exaggeration? No. In fact, it's explicitly false regardless of how one wants to look at it. The wealth circumstances of 99.99% of Americans have grown every year. acting to drop their share of total income. I'm sure the guy intended to say, "their fair share". Wouldn't this imply falling DPI? Yes. Is that the case? No. It's what caused this mess - the top cohort had more income than they knew what do with, even after buying 2nd and 3rd houses and big yachts, so they pushed intermediaries to loan it out to anyone with a pulse. What would this guy do if he won the lottery? Buy houses and yachts and then lend to anyone guaranteed by the US government, but mostly, he'd try to avoid paying his fair share.

To: GraceZ who wrote (158482)	10/19/2008 11:26:43 PM
From: Dan3	Read Replies (2) \| Respond to of 306849

Re: FICA taxes went up as a percentage of total taxes, Well it isn't true. That's incorrect, the statement about FICA taxes is true. FICA taxes did go up as a share of total taxes, and they went up significantly. FICA taxes, which are a flate 15.3% of the first $97k of income, earnings over $97k are untaxed. Those taxes stayed the same while Bush slashed other taxes, especially those of the very wealthy. In 2000, FICA tax receipts were 65% of Income tax receipts, In 2007, FICA tax receipts were 84% of Income tax receipts The republican's tax increases on the middle class is what wrecked the economy - all those people could do was to borrow from the people whose taxes were slashed leaving them with too much money to invest wisely. RECEIPTS BY SOURCE, OUTLAYS, AND GDP: 1940-2009 (in billions of dollars) Individ Corporate Social Excise Total Total Year Income Income Insurance Tax Other Receipts Outlays GDP ---- --------- --------- --------- -------- -------- -------- -------- -------- 1940 0.89 1.20 1.79 1.98 0.70 6.55 9.47 96.8 1941 1.31 2.12 1.94 2.55 0.78 8.71 13.65 114.1 1942 3.26 4.72 2.45 3.40 0.80 14.63 35.14 144.3 1943 6.51 9.56 3.04 4.10 0.80 24.00 78.56 180.3 1944 19.71 14.84 3.47 4.76 0.97 43.75 91.30 209.2 1945 18.37 15.99 3.45 6.27 1.08 45.16 92.71 221.4 1946 16.10 11.88 3.12 7.00 1.20 39.30 55.23 222.7 1947 17.94 8.62 3.42 7.21 1.33 38.51 34.50 233.2 1948 19.32 9.68 3.75 7.36 1.46 41.56 29.76 256.7 1949 15.55 11.19 3.78 7.50 1.39 39.42 38.84 271.3 1950 15.76 10.45 4.34 7.55 1.35 39.44 42.56 273.2 1951 21.62 14.10 5.67 8.65 1.58 51.62 45.51 320.3 1952 27.93 21.23 6.45 8.85 1.71 66.17 67.69 348.7 1953 29.82 21.24 6.82 9.88 1.86 69.61 76.10 372.6 1954 29.54 21.10 7.21 9.95 1.91 69.70 70.86 377.1 1955 28.75 17.86 7.86 9.13 1.85 65.45 68.44 395.9 1956 32.19 20.88 9.32 9.93 2.27 74.59 70.64 427.0 1957 35.62 21.17 10.00 10.53 2.67 79.99 76.58 450.9 1958 34.72 20.07 11.24 10.64 2.96 79.64 82.41 460.0 1959 36.72 17.31 11.72 10.58 2.92 79.25 92.10 490.2 1960 40.72 21.49 14.68 11.68 3.92 92.49 92.19 518.9 1961 41.34 20.95 16.44 11.86 3.80 94.39 97.72 529.9 1962 45.57 20.52 17.05 12.53 4.00 99.68 106.82 567.8 1963 47.59 21.58 19.80 13.19 4.40 106.56 111.32 599.2 1964 48.70 23.49 21.96 13.73 4.73 112.61 118.53 641.4 1965 48.79 25.46 22.24 14.57 5.75 116.82 118.23 687.5 1966 55.45 30.07 25.55 13.06 6.71 130.84 134.53 755.8 1967 61.53 33.97 32.62 13.72 6.99 148.82 157.46 810.2 1968 68.73 28.67 33.92 14.08 7.58 152.97 178.13 868.5 1969 87.25 36.68 39.02 15.22 8.72 186.88 183.64 948.3 1970 90.41 32.83 44.36 15.71 9.50 192.81 195.65 1012.9 1971 86.23 26.79 47.33 16.61 10.19 187.14 210.17 1080.3 1972 94.74 32.17 52.57 15.48 12.36 207.31 230.68 1176.9 1973 103.25 36.15 63.12 16.26 12.03 230.80 245.71 1311.0 1974 118.95 38.62 75.07 16.84 13.74 263.22 269.36 1438.9 1975 122.39 40.62 84.53 16.55 15.00 279.09 332.33 1560.8 1976 131.60 41.41 90.77 16.96 17.32 298.06 371.79 1738.8 1977 157.63 54.89 106.49 17.55 19.01 355.56 409.22 1974.4 1978 180.99 59.95 120.97 18.38 19.28 399.56 458.75 2218.3 1979 217.84 65.68 138.94 18.75 22.10 463.30 504.03 2502.4 1980 244.07 64.60 157.80 24.33 26.31 517.11 590.94 2725.4 1981 285.92 61.14 182.72 40.84 28.66 599.27 678.24 3058.6 1982 297.74 49.21 201.50 36.31 33.01 617.77 745.74 3225.5 1983 288.94 37.02 208.99 35.30 30.31 600.56 808.36 3442.7 1984 298.42 56.89 239.38 37.36 34.44 666.49 851.85 3846.7 1985 334.53 61.33 265.16 35.99 37.07 734.09 946.40 4148.9 1986 348.96 63.14 283.90 32.92 40.29 769.22 990.43 4406.7 1987 392.56 83.93 303.32 32.46 42.10 854.35 1004.08 4654.4 1988 401.18 94.51 334.34 35.23 44.05 909.30 1064.46 5011.9 1989 445.69 103.29 359.42 34.39 48.41 991.19 1143.65 5401.7 1990 466.88 93.51 380.05 35.35 56.19 1031.97 1253.17 5737.0 1991 467.83 98.09 396.02 42.40 50.71 1055.04 1324.37 5934.2 1992 475.96 100.27 413.69 45.57 55.79 1091.28 1381.66 6240.6 1993 509.68 117.52 428.30 48.06 50.84 1154.40 1409.49 6578.4 1994 543.06 140.39 461.48 55.23 58.49 1258.63 1461.88 6964.2 1995 590.24 157.00 484.47 57.48 62.63 1351.83 1515.80 7325.1 1996 656.42 171.82 509.41 54.01 61.39 1453.06 1560.54 7697.4 1997 737.47 182.29 539.37 56.92 63.24 1579.29 1601.25 8186.6 1998 828.59 188.68 571.83 57.67 75.03 1721.80 1652.59 8626.3 1999 879.48 184.68 611.83 70.41 81.05 1827.45 1701.89 9127.0 2000 1004.46 207.29 652.85 68.87 91.75 2025.22 1788.77 9708.4 2001 994.34 151.08 693.97 66.23 85.58 1991.19 1863.77 10040.7 2002 858.35 148.04 700.76 66.99 79.04 1853.17 2010.97 10373.4 2003 793.70 131.78 712.98 67.52 76.36 1782.34 2157.64 10828.3 2004* 765.40 168.74 732.39 70.78 60.79 1798.09 2318.83 11466.0 2005* 873.84 230.20 793.95 73.21 65.08 2036.27 2399.84 12042.4 2006* 956.45 250.01 834.00 75.78 89.42 2205.67 2473.30 12641.1 2007* 1049.29 251.04 878.69 77.89 93.90 2350.80 2592.07 13279.1 2008* 1133.35 252.11 918.80 80.00 101.05 2485.32 2724.28 13972.6 2009* 1209.87 255.68 960.15 82.23 108.47 2616.40 2853.47 14701.6