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I think deductions are necessary in our current system.
But if we actually had a system that made sense, with lower rates and less stifling regulations and without foreign trade disasters like NAFTA, the need for deductions and corporate welfare would be greatly reduced.
I am not so sure.
If I were not getting my write-offs I would not have spent near what I did last year.
It was a little over 3/4 of a million dollars.
That created jobs to produce the products and jobs from me to use them.
Kind of a theoretical question that must be asked in lieu of the Supreme Court's decision earlier this week. If the rich have so much money to give that they needed the high court to allow them to give even more money to political campaigns, they should be able to afford to pay higher taxes, right?
It's not a matter of what they can afford. Just because they can pay more doesn't mean it's right to make them pay more.
Their data source is the IRS. I provided the new IRS link, above.
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The above statement is a manipulation to hide the fact that billionaire CEO's are in a 20% tax bracket, while Americans who make $100,000 are in a 28% tax bracket.
You are showing your ignorance of how tax brackets and tax exemptions and deductions work. A $100,000 income earner does NOT pay a 28% tax rate on all $100,000 of their income. How do you not know that?
some recent research has shown that the richer live an average fo 5 years longer then the poor folks
SS benefits are so progressive that even with those adjustments the SS Administration has determined that higher income earners have been LOSING money on SS since the 1990s.
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Nope
Really? Do you have any proof that the rich are somehow magically exempt from the same state and local taxes that everyone else pays? I sincerely doubt it.
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Look at the bottom graph here:
Not only is that chart flat out wrong, it's also 10 years old.
Taxes paid and services/benefits received, local state, and federal, are progressive in the extreme:
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The bottom 20% is getting 135.5 times the value in government services for their federal taxes paid than is the top 1%.
Furthermore, from the above link...
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"...the combined effect of government tax and spending policies is to redistribute more than $2 trillion annually from families in the top 40 percent of the income distribution to those in the bottom 60 percent.
...Interestingly, we find that the biggest net beneficiaries of this increase in redistribution from 2000-2012 are middle-income families and working lower-income families (those in the second quintile). These were the families most targeted by economic stimulus programs and more generous tax credits. Of the $2 trillion in income that was redistributed in 2012, nearly half was paid for by families in the top 1 percent."
The top 40%, and more specifically the top 1%, are working as tax slaves for a significant portion of each year to fund those who take more from society than they contribute to society.
Their data source is the IRS. I provided the new IRS link, above.
You are showing your ignorance of how tax brackets and tax exemptions and deductions work. A $100,000 income earner does NOT pay a 28% tax rate on all $100,000 of their income. How do you not know that?
The ignorance is absolutely astounding.
Your IRS link above goes to the following, "2011 2010 2009 2008"
I clicked "2011" and a 311 page document came up.
Do you honestly expect me to read a 311 page document?
How about posting a direct link to a source, or saying what page given information is on.
Thank you,
Chad.
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