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Unless the authors were doing something intentionally dishonest like counting entitlements and welfare benefits as "income" I have no clue how they reached those results. Would have been very happy to be paying merely triple that 4.8% in the years I brought in 30-50.
Yeah, I'd like to know that too! My average earnings are right around 50K, and I pay waaaaay more than 4.8% - usually closer to 30%, once you factor in state & federal.
Yeah, I'd like to know that too! My average earnings are right around 50K, and I pay waaaaay more than 4.8% - usually closer to 30%, once you factor in state & federal.
With child related credits? That is the only way I can think someone will get close to 4.8%.
You don't understand why people want those who EARNED their money, no matter how or why (as long as it's legal), to not be forced to give more than half to the IRS? I'm all for paying one's fair share, but the 1% are paying well above & beyond what most consider a "fair share." And I'm the daughter of a 1%-er, so I know for a fact how much they contribute - and while he might still have plenty left over, it's not fair that he has to carry such a heavy burden. Shouldn't he get to keep at least HALF of what he's worked hard for his entire life? I don't oppose welfare or anything, but to say "the millionaires don't need their money, so give it to the middle class" is just stupid. Sorry to put it that way, but this is what separates me the most from the Democratic Party.
the top 1% pays 36% of the income tax.
but the top 1% also controls over 43% of the financial wealth.
Perhaps it's worth asking... Does the millionaire owe a debt of gratitude to the system that allowed them to prosper and earn so much? That's no excuse for the looney left bin to waltz in and effortlessly ransack what they have not earned, but there are reasons high income earners are able to thrive here. If they took their vast fortunes to some third world, low tax rate hell hole, would they still be earning millions? In some cases, yes. If their source of income depends on middle class consumers with a taste for consumption, the answer may be different. In such a case, relieving the tax burden for millionaires and sticking it to middle class families may have an even worse effect on the millionaires income earning potential.
Perhaps it's worth asking... Does the millionaire owe a debt of gratitude to the system that allowed them to prosper and earn so much? That's no excuse for the looney left bin to waltz in and effortlessly ransack what they have not earned, but there are reasons high income earners are able to thrive here. If they took their vast fortunes to some third world, low tax rate hell hole, would they still be earning millions? In some cases, yes. If their source of income depends on middle class consumers with a taste for consumption, the answer may be different. In such a case, relieving the tax burden for millionaires and sticking it to middle class families may have an even worse effect on the millionaires income earning potential.
a wealthy class is one of the constants in the world. people who are good at creating wealth will generally be successful under any system.
so no, the millionaire doesn't owe anything to "the system", unless they directly made their money from the system in some way
So who are you to dictate where they how they spend their money. Now it is a crime to want to send their kids to the best schools. If they earned the money then it is "non of your business" how they spend it. You didn't earn it so get your nose out of other peoples business.
And if you are going to have an opinion on taxes at least have an educated opinion.
Perhaps it's worth asking... Does the millionaire owe a debt of gratitude to the system that allowed them to prosper and earn so much? That's no excuse for the looney left bin to waltz in and effortlessly ransack what they have not earned, but there are reasons high income earners are able to thrive here. If they took their vast fortunes to some third world, low tax rate hell hole, would they still be earning millions? In some cases, yes. If their source of income depends on middle class consumers with a taste for consumption, the answer may be different. In such a case, relieving the tax burden for millionaires and sticking it to middle class families may have an even worse effect on the millionaires income earning potential.
And some people live off these people, through wages or through welfare and we have yet to hear of any appreciation. Everyone thinks they are owed a job, WRONG. People on welfare think they are owed because they exist. WRONG AGAIN.
It is the failures who FAIL to realize that they also have the same opportunities but that would require thinking and working on their part.
Yeah, I'd like to know that too! My average earnings are right around 50K, and I pay waaaaay more than 4.8% - usually closer to 30%, once you factor in state & federal.
And you think the rich don't pay state and federal, local tax, sales tax, import, export tax. We are all taxed too damn much. They pay more taxes than you can imagine. Well then there you have it... everyone thinks they know everyone else's business (what they pay in taxes).
You are an idiot if you vote for increasing taxes on anyone. In the end it is YOU who gets the brunt of higher taxes. Enjoy, you deserve what you voted for.
So who are you to dictate where they how they spend their money. Now it is a crime to want to send their kids to the best schools. If they earned the money then it is "non of your business" how they spend it. You didn't earn it so get your nose out of other peoples business.
And if you are going to have an opinion on taxes at least have an educated opinion.
I believe the poster questioned why "rich people" needed their money. Tuition is one reason. I sent my kids to Cal and Stanford.
In matters of taxes I'm certain that I have paid far more than you and am far more educated.
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