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I am. A flat tax makes total sense. Earn very little; pay very little. Earn A LOT; pay A LOT.
This attitude is based, of course, on the idea that the person who earns a lot doesn't really own what he earns. Rather than being his property, it's the property of all, and can be taken by anyone who needs it.
Our government is based increasingly on this idea. It has to be understood and accepted, if anyone is goinng to believe that taking "A LOT" from those who earn "A LOT", simply because they earned it, is in any way "fair" to someone somewhere.
I'm not objecting to it. Just pointing out what it means.
What loopholes? They pay 15%. That's 2.5 times the 6.01% tax rate the middle class pays. AND a hell of a lot more than the 51% who pay no federal income tax whatsoever.
Why are you complaining about people who PAY federal income tax?
Total BS. This is what the IRS says the average effective federal income tax rate is for an income of $30K:
This attitude is based, of course, on the idea that the person who earns a lot doesn't really own what he earns. Rather than being his property, it's the property of all, and can be taken by anyone who needs it.
Our government is based increasingly on this idea. It has to be understood and accepted, if anyone is goinng to believe that taking "A LOT" from those who earn "A LOT", simply because they earned it, is in any way "fair" to someone somewhere.
I'm not objecting to it. Just pointing out what it means.
I realize that. And there's STILL the problem of some people WAY overpaying for the government services and benefits they get, while others fail to contribute enough to cover their own costs. Consequently, it's still not fair, but at least with a flat tax, everyone pays.
The group that pays no federal income tax has more of an income share than those who earn $1.634 million or more (not even billionaires). THEY'RE the ones getting the biggest tax breaks.
Here's proof: Federal Income Tax Share, paid by income group:
The top 0.1% earned 9.24% of the income but paid 17.88% of the federal income tax revenue.
It's a myth that the rich get tax breaks. Anyone would have to be extremely stupid to believe that leftist propaganda BS. The rich are actually paying TWICE their fair share.
The group that pays no federal income tax has more of an income share than those who earn $1.634 million or more (not even billionaires). THEY'RE the ones getting the biggest tax breaks.
Here's proof: Federal Income Tax Share, paid by income group:
The top 0.1% earned 9.24% of the income but paid 17.88% of the federal income tax revenue.
The biggest tax breaks are given to those who pay no federal income tax.
The carried interest exemption allows the manager running hedge funds to pay capital gain rates on their income. Small entrepreneurs and mutual fund managers don't enjoy that advantage.
The carried interest exemption allows the manager running hedge funds to pay capital gain rates on their income. Small entrepreneurs and mutual fund managers don't enjoy that advantage.
They're paying federal income tax, so what's the beef?
47% are paying no federal income tax whatsoever on a LARGER percentage of the total income. THERE'S the problem.
It's a myth that the rich get tax breaks. Anyone would have to be extremely stupid to believe that leftist propaganda BS. The rich are actually paying TWICE their fair share.
We aren't talking about the 1%. If I cashed in my trust I would be in the 1%. What we are talking about is having ordinary income treated as a capital gain because of lobbying from the hedge funds.
They're paying federal income tax, so what's the beef?
47% are paying no federal income tax whatsoever on a LARGER percentage of the total income. THERE'S the problem.
And when those 47%ers make money they are taxed at ordinary income rates in addition to FICA taxes. The hedge fund manager is exempt.
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The rich are actually paying TWICE their fair share.
