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What makes you think returns will be any greater than ~3-ish% in the future? World economies aren't exactly tickety-boo, you know?
In the "next few years" future you may be right. But, as I've said three times now, I am talking about a 45 year timespan, which I believe will be higher on average due to looking at the past ~100 years of historical returns.
In the "next few years" future you may be right. But, as I've said three times now, I am talking about a 45 year timespan, which I believe will be higher on average due to looking at the past ~100 years of historical returns.
You're taking into consideration the U.S.'s economic advantage after WWII when other countries' productive capabilities were destroyed. We're not living in that world anymore. You won't see the returns we've previously had throughout those years.
The top 5% pay for their own private protection. They have security guards and private security details at their disposal. They do not need the "donut eaters" that just show after the fact to take a report.
The top 5% of earners have an average Adjusted Gross Income of $159,619. Do you really believe they have private security details?
High earners pay more of a percentage of their income than those below them on the scale.
what tables?
where's ur breakpoint for 'high' vs 'low' earners?
<3% of people with AGI's make $250k or more.
if ur focusing on this group and above in wage earnings, the differential in % tax paid starts to become clear:
higher wager earners typically have access to more tax breaks (bought & paid for by campaign contributions) that allow them to reduce their tax burden effectively reducing the overall tax percentage that they pay vs lower wage earners.
No, he wasn't. According to the IRS, it's a lie. You can see for yourself the high earners pay more of a percentage of their income in taxes.
So you are saying that no Multi-Millionaire ever...never got away with paying any federal income tax , that's 0 tax paid in a tax year ever in the history of America...LOL
So you are saying that no Multi-Millionaire ever...never got away with paying any federal income tax , that's 0 tax paid in a tax year ever in the history of America...LOL
The tax increase won't hit the multi-millionaire elite, it will only hurt the high income earners who eventually want to compete with the elite. Why do you think we have billionaires promoting it?
Location: where you sip the tea of the breasts of the spinsters of Utica
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The OP is about wealthy people. By definition, wealthy people don't need to work because they can live well on the interest or income from their assets. (thus anything they choose to work at is a hobby rather than work). Let's not confuse the issue by dragging in people who work for a living but make lots of money at it.
Since many of the truly wealthy people and their corporations are the cause of this country building up a bloated military and engaging in useless overseas wars, whether to increase the profits of the "defense" contractors like tax-dodging GE or simply to make the world safe for McDonalds, I'd say that we the people get a net loss rather than a gain from their taxes.
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