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They don't, much of the uber rich don't produce much of anything, which is why they don't derive much wealth from income. Supply side economics don't work in a global world and we need to focus on demand (aka the lower and middle class).
They do produce, you just don't walk into a store and buy their products. They develop the drugs the doctors prescribe you, provide investment capital for businesses of all sizes, and manage the multi billion dollar businesses you do use amoung many other things.
Just because they don't srand in a store pitching you a product doesn't mean they are not providing a product/service. It is just at a higher level.
Its so hard to talk to you sometimes, you cling to the tax rate argument like a life preserver. The truth is if you look at tax rates alone yes the richest pay the most taxes. But its a right wing slight of hand trick. Because its never been about tax rates but tax loopholes and tax breaks after that that takes 21.67% tax rate and effectively makes it 2%.
No sleight of hand, just liberals' stubborn and willful ignorance.
The latest published IRS data very clearly reports an actual average effective federal income tax rate for the top 0.1% (income of $1,695,136 or more) of 21.67%.
If you disagree, please post a link to the IRS publication that states that the top 0.1%'s average effective federal income rate was the 2% you assert.
Corky, if everybody gets a pay raise, everybody will be paying more for products and services. In the end, it will be exactly the same. It's the reason why a person making minimum wage in 1980 has no more buying power than a person making minimum wage in 2015 even though the rate has risen substantially.
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Originally Posted by Magritte25
You still haven't answered why the perceived value of CEOs will increase along with inflation and taxes but not the perceived value of workers. WHY?
That doesn't conflict with the info that 86.4% who pay no federal income tax earn less than $50k. What is odd is that 12.1% of those who pay no federal income tax earn $50k-$100k.
Well, 30k is a whole lot less money than 50k, so it makes a big difference when saying someone should be paying taxes.
Yes, even some people above 100k don't pay any income tax, I wonder how that is possible.
Well, 30k is a whole lot less money than 50k, so it makes a big difference when saying someone should be paying taxes.
Everyone should be paying the same rate, regardless of income level. Earn very little; pay very little. Earn a LOT; pay a LOT. The higher income earners will still be paying much more in taxes than the lower income earners.
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Yes, even some people above 100k don't pay any income tax, I wonder how that is possible.
Like I said... Everyone should be paying the same rate, regardless of income level. Earn very little; pay very little. Earn a LOT; pay a LOT. The higher income earners will still be paying much more in taxes than the lower income earners.
It has repeatedly been explained why a flat tax rate is not fair (even if it might seem fair at first glance), we are going in circles...
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