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The reality is that the middle class pay the buik of Fed Income taxes.
Like it or not that' the reality.
And eventually all tax changes come to hit us.
That AMT for 'rich' people now hits lower middle class folks in the years that Congress doesn't pass an "emergency" change. Why hasn't Congress changed it for good to the proper bracket ? $52K for a single person and they have to do AMT calculations for this "wealth tax" ?
The reason is that Uncle Sam can never have enough money from taxes.
There are other articles about one's total tax burden and it comes to near 60% of your annual salary.
Yes they all get their piece of your paycheck.
Now this thread is about INCOME tax to Uncle Sam. If you are so concerned about ALL taxes then start a thread on it and we'll all be glad to contribute.
Says a lot when you consider someone making $134K a year some of the "richest on the planet".
LOL. its also convenient how they didn't break down the 20% into the 1%. They're playing you with numbers.
And yes you SHOULD include all taxes. Because these things don't work in a vacuum. And ESPECIALLY since you included the 60% rate. LOL. So its OK if you do, but not others? And yours can be the cherry picked worse tax arrangement? OK sure...sounds reasonable....wait...no it doesn't.
But hey, lets talk JUST federal. Let me go get my tiny violin for the people living in a developed country with some of the lowest effective federal tax rates.....I know I will find it eventually....but I think it got even smaller.
LOL. its also convenient how they didn't break down the 20% into the 1%. They're playing you with numbers.
And yes you SHOULD include all taxes. Because these things don't work in a vacuum. And ESPECIALLY since you included the 60% rate. LOL. So its OK if you do, but not others? And yours can be the cherry picked worse tax arrangement? OK sure...sounds reasonable....wait...no it doesn't.
But hey, lets talk JUST federal. Let me go get my tiny violin for the people living in a developed country with some of the lowest effective federal tax rates.....I know I will find it eventually....but I think it got even smaller.
Sure they do. Property taxes is totally local.
You want to address the total tax burden which is not the point of this thread.
If you don't want to discuss FEDERAL INCOME TAXES then don't partake in this thread..plain and simple.
The reality is that the middle class pay the buik of Fed Income taxes.
Like it or not that' the reality.
And eventually all tax changes come to hit us.
That AMT for 'rich' people now hits lower middle class folks in the years that Congress doesn't pass an "emergency" change. Why hasn't Congress changed it for good to the proper bracket ? $52K for a single person and they have to do AMT calculations for this "wealth tax" ?
The reason is that Uncle Sam can never have enough money from taxes.
Actually this is a good conversation piece regarding the AMT. Its gotten to the point where the CBO provides multiple projections-one of which assumes that certain pieces of legislation are passed year after year, leaving them laying around like guns to pick up during political squabbles.
Actually this is a good conversation piece regarding the AMT. Its gotten to the point where the CBO provides multiple projections-one of which assumes that certain pieces of legislation are passed year after year, leaving them laying around like guns to pick up during political squabbles.
It won't change because the middle class now provides the bulk of AMT taxes.
And how about if we add in ALL the taxes? Not just federal income? I love how people always cherry pick that.
Do it.
Add in ALL the taxes, sales, property, taxes on phone bills, state income taxes, city income taxes, capital gains, any tax you want and it is still going to come down to the top 1%, 5% and 10% paying a much higher percent of the total taxes that make the government run and support all the programs of government.
Quote:
Originally Posted by nighthouse66
Sure, on paper, most millionaires SHOULD pay a certain amount. But with tax breaks all over the place, tax shelters, etc., they pay very little.
These numbers are not theoretical, these are the ACTUAL numbers for the last year that the numbers are available. How those numbers come out "fair" to anyone is beyond me.
How convenient. Again, why dont we include social security there? BOTH sides of it technically?
Or sales taxes? Property taxes (with renters getting that credit), or fines, and fees?
And even without including that....you will forgive me if I don't pull out my little violin for some of the richest people on the planet, with some of the lowest effective tax rates of any developed nation. My violin is sooooo tiny for them, that recently I lost it.
Not sure why fines, would be included, but go get the numbers of everything else, fees, surtaxes, SS SDI, everything and the top earners pay far more than their fair share.
Add in ALL the taxes, sales, property, taxes on phone bills, state income taxes, city income taxes, capital gains, any tax you want and it is still going to come down to the top 1%, 5% and 10% paying a much higher percent of the total taxes that make the government run and support all the programs of government.
These numbers are not theoretical, these are the ACTUAL numbers for the last year that the numbers are available. How those numbers come out "fair" to anyone is beyond me.
Not sure why fines, would be included, but go get the numbers of everything else, fees, surtaxes, SS SDI, everything and the top earners pay far more than their fair share.
Ahh and now we get to it. their "fair" share. what is fair? thats the question. So....
Fair would be that they get in exactly what they pay out. Guess what? the value of a functioning government is higher. Ohhh so lets say "equally apportioned". Why? I mean whats fair about taxing that which is needed to survive? Most people would rightly argue that taxing food, shelter, etc is unfair. it risks a persons survival. And lets be honest, the billionaire benefits FAR FAR FAR more then the little people.
Or would taxing be fair that each pays according to his abilities?
Or maybe we could use a civilized norm?
Get this, life isnt fair. I pay far more then the average person in taxes, its the price of living in a civilized society that doesn't tax that which is needed to survive.
The odds are high I pay more as a % of income in taxes then you do. Notice I say odds, not a guarentee.
I say this because I pay more then the average citizen. So...I have put up.
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