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If you earn a $1,000 a month, you NEED that extra $100 to help pay for housing, food, transportation, etc so you can continue to earn $1,000 a month. (You will mow your own yard, make your own meals, etc.)
If you earn $10,000 a month, you can pay $2,000 in taxes and still have plenty left over to take care of most necessities without a stretch and a few luxuries as well. (You'll eat out more, enjoy AC & heat without issue, hire folks for various projects.)
If you earn $100,000 a month, you can afford to pay $30,000 a month in taxes and hardly miss it. You can afford everything you need and a whole lot of stuff just because you can. You also get the privilege of employing, as well as, using the outside services of other folks who earn a whole lot less than you to make your life comfortable so that manual labor is by choice (and give you the opportunity to continue to do whatever it is that makes you that kind of money).
So, yeah, the rich carry more of the tax burden. And they should.
Most taxes are regressive. That is the lower you're income the higher percentage you're paying. The $5 I pay in sales tax for a $100 grocery order is a much larger percentage of my income then is the same $5 in sales taxes that David Koch pays for a $100 grocery order.
You do the math for ALL the taxes and I'm willing to bet that the lower income people actually spend a greater percentage of their income on taxes then do the rich people. And that's ignoring the fact that the rich very often pass their tax burden onto the non rich in the form of higher prices and rent etc
SO what, ...if i am paying for a service, why should I pay a greater % of my income for a service. Do I need to pay more for a steak dinner than someone simply becasue I have more money?
If you earn a $1,000 a month, you NEED that extra $100 to help pay for housing, food, transportation, etc so you can continue to earn $1,000 a month. (You will mow your own yard, make your own meals, etc.)
If you earn $10,000 a month, you can pay $2,000 in taxes and still have plenty left over to take care of most necessities without a stretch and a few luxuries as well. (You'll eat out more, enjoy AC & heat without issue, hire folks for various projects.)
If you earn $100,000 a month, you can afford to pay $30,000 a month in taxes and hardly miss it. You can afford everything you need and a whole lot of stuff just because you can. You also get the privilege of employing, as well as, using the outside services of other folks who earn a whole lot less than you to make your life comfortable so that manual labor is by choice (and give you the opportunity to continue to do whatever it is that makes you that kind of money).
So, yeah, the rich carry more of the tax burden. And they should.
So what is the minimum amount "needed" to pay for "necessities" defined as food, transportation, and housing. Don't forget about clothing as well.
The only ones stopping them from "being allowed" to earn more is themselves.
A HS dropout working at wallymart is not going to make it far in life. And they have no one but themselves to blame.
If you earn a $1,000 a month, you NEED that extra $100 to help pay for housing, food, transportation, etc so you can continue to earn $1,000 a month. (You will mow your own yard, make your own meals, etc.)
If you earn $10,000 a month, you can pay $2,000 in taxes and still have plenty left over to take care of most necessities without a stretch and a few luxuries as well. (You'll eat out more, enjoy AC & heat without issue, hire folks for various projects.)
If you earn $100,000 a month, you can afford to pay $30,000 a month in taxes and hardly miss it. You can afford everything you need and a whole lot of stuff just because you can. You also get the privilege of employing, as well as, using the outside services of other folks who earn a whole lot less than you to make your life comfortable so that manual labor is by choice (and give you the opportunity to continue to do whatever it is that makes you that kind of money).
So, yeah, the rich carry more of the tax burden. And they should.
If you earn that $1000 and they take out $100 today in taxes, you won't see that til next year when you file for a refund. Your scenario is bogus.
Cities and states collect their own taxes. You think every dollar goes to the Fed ?
Each group taxes but doesn't share with the other. So paying your property taxes does nothing to the Fed's coffers.
Your headline and the headline by the Washington Times are a lie.
There is nothing in the report that says the share is "outsized ", just that the rich pay a little higher share of the taxes than their share of all income. This is not at all surprising, it is exactly how a progressive income tax is supposed to work.
Thanks chuckles.....it is not much of a stretch here. This was to highlight that high earners are paying their fair share, contrary to what the current administration states. The CBO calculated the numbers...and many of us do not like the progressive tax system.
Again, I posted the link to highlight federal income tax....your off topic.
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