Scarborough Falsely Claims 'The Average Millionaire-Billionaire Pays Eighteen Percent in Taxes'
Hours after NewsBusters debunked the myth about the rich paying less taxes as a percent of income than lower earners, and minutes before the Associated Press confirmed our figures, Joe Scarborough said Tuesday, "The average millionaire-billionaire pays eighteen percent in taxes in America."
Going completely contrary to actual Internal Revenue Service data released weeks ago, the "Morning Joe" host added, "If we can get the millionaires and billionaires to even pay 25 percent, there’d be a massive, that would be a massive influx of money" (video follows with transcript and commentary):
JOE SCARBOROUGH, CO-HOST: The average millionaire-billionaire pays eighteen percent in taxes in America. Doesn’t this sound like a great idea? Simpson-Bowles sound like a great idea? Close the loopholes. If we can get the millionaires and billionaires to even pay 25 percent, there’d be a massive, that would be a massive influx of money.
Not according to the IRS.
As NewsBusters reported Monday, as a percent of Adjusted Gross Income, folks making $1 million or more in 2009 paid between 22.6 and 25.8. In terms of taxable income, those numbers rose to between 26.3 and 29.7 percent.
The Media Research Center's Rich Noyes took these IRS figures and determined that as a percentage of taxable income, those making over $1,000,000 paid an average of 28.5. I've just calculated that as a percentage of AGI, it's 24.5.
"If we can get the millionaires and billionaires to even pay 25 percent, there’d be a massive, that would be a massive influx of money."
Assuming Scarborough was talking about in relation to AGI - which is somewhat foolish because marginal tax brackets are based on taxable income - the extra half a percent would have raised an additional $3.6 billion in 2009.
With a $1.5 trillion deficit, that's certainly not "massive."
It is indeed disappointing to see someone as bright as Scarborough not only falling for this nonsense but also repeating it on national television.
We expect this from the rest of the shills at MSNBC, but not him.
Of course, if he's got other IRS data to share with us that supports his eighteen percent contention, we'd love to see it.
- Noel Sheppard's blog
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Comments
WTH is an "average" billionaire?
Submitted by SickofLibs on Tue, 09/20/2011 - 11:44am.
Are those the ones who get their taxes done at H&R Block?
No need to muddy up the waters
Submitted by IgnatzJFahrquar on Tue, 09/20/2011 - 11:45am.
with actual facts.
Joe, you are confusing the 18% for the number of times you actually say something relevant and correct.
Let's cut Joe some slack here.
Submitted by Newsbubba on Tue, 09/20/2011 - 11:52am.
It is becoming obvious to the most casual observer that Joe is saying stuff just to help him get in poor dumb Mika's pants! Look at the expression on her sweet, stupid face!
I mean, nobody can be this dumb naturally. You have to work at it, yo, Joe?
That look on her face in the
Submitted by amyshulk on Tue, 09/20/2011 - 12:02pm.
That look on her face in the screenshot/still is "See, I'm right, even JOE agrees"
Ronald Reagan
it would not be....
Submitted by almostacowboy on Tue, 09/20/2011 - 11:53am.
"...a massive influx of money...". There aren't that many of them.
Even if it would be a massive influx
Submitted by ckc1227 on Tue, 09/20/2011 - 6:31pm.
Why would it be a good thing to launder it through the federal government, and then have them waste it?
Joe is taking too many pain killers
Submitted by Delsa on Tue, 09/20/2011 - 11:54am.
I think his back problems and ALL the DRUGS he has and is taking have caused him to loose his mind?
A complete change of personality from his days in Congress.
It is the only way to explain his crazy talk.
Too bad for Joe. He used to sound rational.
Quit the GOP
Submitted by Boray on Tue, 09/20/2011 - 12:21pm.
Come on, Joe, get out of the GOP and drop the "R". You're so left wing it's disgusting. I used to really respect you, but perhaps you're spending too much time with your hand on Mika leg (who could blame you?), she has transferred some of stupidity to you.
Stop being a phoney. Go join your colleagues Socialist party.
Well, didn't you hear?
Submitted by DumbCanuck on Tue, 09/20/2011 - 12:23pm.
It's Math!!!
"There... Are... Four... Lights!"
You are SO right
Submitted by TheHistorian on Tue, 09/20/2011 - 5:04pm.
I just grinned over your tag line. You are right; they are trying to brainwash us with these outright lies. Joe, either get out the facts, or apologize that you don't know what is flowing out of your mouth. We have facts that state differently. What's YOUR source? Moveon.org? The President who cannot even count, much less do complex math like <gasp> percentages?
Dennis Prager
Influx of money
Submitted by rwnewsnut on Tue, 09/20/2011 - 12:24pm.
If they were to raise the income taxes to 100% for people earning over $1,000,000 (remember you have to earn over $1,000,000 to be a millionaire),
the influx would be $446,038,365,000. They are already paying $177,499,672,000.
This would sum to a total taxation of $623,538,037,000. $623 billion. It still would not close the gap in the deficit.
WAKE up JOE! 100% taxation. Would not close the gap in the deficit.
Hey Joe
Submitted by grammajane on Tue, 09/20/2011 - 12:29pm.
Replay O"Reilly's fact check from last night about millionaires and taxes
I guess we now know Joe isn't a millionaire
Submitted by Dave. on Tue, 09/20/2011 - 1:05pm.
-Dave
Vote for the American in November
Deficit reduction moment.
Submitted by djm159 on Tue, 09/20/2011 - 1:50pm.
And all welfare recipient pays "0." The US taxpayer pays 120 billion dollars a year to support illegitimate children on the welfare rolls. Can you say sterilization? If Warren Buffet paid his taxes on Berkshire-Hathaway, and we stop paying dividends to those who have a child every 9 months on the taxpayer dime that would be a nice dent in the deficit. $1 billion from Buffet and $120 billion from welfare babies total $121 billion. Reign in the congressional paychecks for life even after the senator/congressman has left office voluntarily or as in Anthony Weiner's case been forced out and will still receive his pay and health benefits. Let's stop paying illegal immigrants to do the work the American people "refuse to do" and make the American welfare recipient either work in the fields, the canneries or any other industry where we pay illegals to do the job, or no welfare benefits, the check stops. Watch and see how quickly the jobs illegals do are snapped up when the gravy boat stops. Get rid of the unions that are bleeding the American cities dry so that the union bosses can remain millionaires on the backs of the blue collar workers. No auto line assembly person deserves $55.00 and hour. Maybe if that ended US car manufacturers could make money and keep the labor here. Stop all health care for illegal immigrants and deport them to their country of origin for treatment. In fact, deport all illegals and end the madness. That's my plan and I am sticking with it.
It's worse than that....
Submitted by TheAngryConservative on Tue, 09/20/2011 - 3:52pm.
"And all welfare recipient pays "0." "
This is true....but it goes a little deeper than that. About half of taxpayers...think it's like 48ish percent....pay no federal income tax....none at all.
That fact...and that fact alone...should nullify the intellectually vacant argument that "rich" people don't pay their fair share.
I've paid roughly $10k in federal income tax in the last two years and I'm nowhere near making six figures annually. (more like $50-60k GROSS...not taxable). What's interesting is that some of the people paying nothing make as much as I do (at least as far as total household income goes).
No, it's not "math"....Obama...you Marxist....you are treating businesses and rich people like your personal piggy bank (Barney Frank has said as such). How in the hell could you not understand why businesses aren't hiring? There is a damn good reason you are not unilaterally allowed to impose your will on this country (although you try)...and I'll quote one of your sycophants when I say it....you're President...not our King....and after 2012, you will be in forced retirement.
If someone with an "R" by their name is elected in 2012, this economy will ROAR soon thereafter and tax receipts will swell. Economic activity and the ceasing of subsidizing stupidity and laziness is what is going to get this country out of morass it's in.
Bush never had a deficit that exceeded $500 billion (even while fighting two wars) until his last year...and that can be attributed to TARP (which Obama supported and a Democrat Congress passed)
We have, I fear, confused power with greatness. ~ Stewart Udall
Also overheard on Morning Joe this morning.....
Submitted by Rovin on Tue, 09/20/2011 - 4:09pm.
The “rich” are defined by Obama as any one making over $250k…..Steve Rattner, New York Times economist writer
“It’s a bumper sticker not an economic policy” (Obama’s proposals) according to two people going to an Obama fund raiser last night-----35k per plate. (via Mike Barnacle on Morning Joe)
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"It is indeed disappointing to see someone as bright as Scarborough not only falling for this nonsense but also repeating it on national television."
With all due respect Mr. Sheppard, I believe you assume too much of Mr. Scarborough's intelligence.
Joe is right on one thing ....
Submitted by jmigyanka@msn.com on Tue, 09/20/2011 - 7:27pm.
...........the cover up of the suspicious DEATH of his political assistant, Lori Klausutis, in his Florida office. For all the suspicious facts, try these for openers:
1. http://archive.democrats.com/preview.cfm?term=Joe%20Scarborough
2. http://www.americanpolitics.com/20010808Klausutis.html
3. http://flyingsnail.com/Dahbud/firejoescarborough.html