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Thing is that the wealthiest 0.01% basically own the Federal Government. So the higher taxes on excessive wealth- necessary to a functional and growing economy- just ain't gonna happen.
Probably more than that want free stuff. They also loved easily credit; until the consequences happened. Greece wanted the same thing for government to give them stuff and ended up being the largest and most important employers. but they never created enough GDP to pay for their promises. The government is a poor supplier of good economy and terrible at running anything because of influences on it on both sides. The truth on taxes is in the funding amounts to totally see where GDP represented by money comes from. By April 15th 60% pay less than cost of services they receive and 40% pay no effective income tax. State o course vary even to now taxes are collected. One only has to look at where liberals want to get and where they place burden of taxes for what they want; on the top ten per cent as always. Companies often like having the government take over former responsibility even for their workers. But government has your middleman means your at the bottom ;no matter the amount. If a poor man does better the government then takes away but if he remains then he is assured of payments continuing; plain and simple. Its a trap many fall into. Government is their second parent many live their lives under.
Last time I checked, rich bankers and businessmen employed most people. How many jobs have you created?
You clearly didn't check anything academic. It is consumer demand that creates jobs.
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the positive relationship between tax cuts and employment growth is largely driven by tax cuts for lower-income groups and [the fact] that the effect of tax cuts for the top 10% on employment growth is small.
Lower income households have a higher Marginal Propensity to Consume (MPC), while high income households have a lower MPC. The MPC of lower income households (-$35,000) are 3x higher than high income households ($200,000+)
The only goal of taxing the rich is creating class warfare.
Maybe these 52% should reconsider, what kind of goal are they trying to accomplish?
Taxing the rich doesn’t create a new job, open a new business, or add a cent into your own paycheck. So what is the purpose? Taxing the rich only serves to increase the size and scope of government.
Having the rich pay more tax won't cause class warfare..it's already been caused by them sucking the lifeblood out of the working class. I know that at least some of you must work for a living, what I don't understand is how/why you can buy the lie that having the rich pay more tax is somehow 'unfair'. I guess Joseph Goebbels knew what he was talking about when he said "If you tell a lie big enough and keep repeating it, people will eventually come to believe it." I'm just surprised that the working class in this country hasn't taken to the streets yet.
WAGES STAGNANT FOR DECADES
"But after adjusting for inflation, today’s average hourly wage has just about the same purchasing power as it did in 1979, following a long slide in the 1980s and early 1990s and bumpy, inconsistent growth since then. In fact, in real terms the average wage peaked more than 40 years ago: The $4.03-an-hour rate recorded in January 1973 has the same purchasing power as $22.41 would today."
"Federal income taxes account for just 27% of total government revenue collected in America. And the remaining three-quarters of the tax pie is quite regressive. The middle class may not pay much federal income tax. But they sure pay the payroll tax for Social Security and Medicare, which the rich can mostly skip out on since it only applies to the first $110,000 of wage income. (The Medicare levy, unlike its bigger Social Security counterpart, is not capped). The masses also pay a much greater share of their income in sales and excise taxes than the rich do, because they cannot afford to save."
"...With such low effective tax rates — and, importantly, the low tax rate of 20 percent on income from capital gains — it’s not a huge surprise that the share of income going to the top 1 percent has doubled since 1979, and that the share going to the top 0.1 percent has almost tripled, according to the economists Thomas Piketty and Emmanuel Saez. Recall that the wealthiest 1 percent of Americans own about 40 percent of the nation’s wealth, and the picture becomes even more disturbing".
The typical affluent family in America now has nearly seven times the wealth of a middle-income family, the biggest wealth gap in three decades, according to a new analysis by Pew Research Center. Last year, the median wealth of upper-income families in the U.S. ($639,400) was 6.6 times bigger than that of middle-income families ($96,500), up from 6.2 times in 2010. Upper-income families now have a median wealth level that is nearly 70 times that of lower-income families.
Having the rich pay more tax won't cause class warfare..it's already been caused by them sucking the lifeblood out of the working class. I know that at least some of you must work for a living, what I don't understand is how/why you can buy the lie that having the rich pay more tax is somehow 'unfair'. I guess Joseph Goebbels knew what he was talking about when he said "If you tell a lie big enough and keep repeating it, people will eventually come to believe it." I'm just surprised that the working class in this country hasn't taken to the streets yet.
WAGES STAGNANT FOR DECADES
"But after adjusting for inflation, today’s average hourly wage has just about the same purchasing power as it did in 1979, following a long slide in the 1980s and early 1990s and bumpy, inconsistent growth since then. In fact, in real terms the average wage peaked more than 40 years ago: The $4.03-an-hour rate recorded in January 1973 has the same purchasing power as $22.41 would today."
"Federal income taxes account for just 27% of total government revenue collected in America. And the remaining three-quarters of the tax pie is quite regressive. The middle class may not pay much federal income tax. But they sure pay the payroll tax for Social Security and Medicare, which the rich can mostly skip out on since it only applies to the first $110,000 of wage income. (The Medicare levy, unlike its bigger Social Security counterpart, is not capped). The masses also pay a much greater share of their income in sales and excise taxes than the rich do, because they cannot afford to save."
"...With such low effective tax rates — and, importantly, the low tax rate of 20 percent on income from capital gains — it’s not a huge surprise that the share of income going to the top 1 percent has doubled since 1979, and that the share going to the top 0.1 percent has almost tripled, according to the economists Thomas Piketty and Emmanuel Saez. Recall that the wealthiest 1 percent of Americans own about 40 percent of the nation’s wealth, and the picture becomes even more disturbing".
The typical affluent family in America now has nearly seven times the wealth of a middle-income family, the biggest wealth gap in three decades, according to a new analysis by Pew Research Center. Last year, the median wealth of upper-income families in the U.S. ($639,400) was 6.6 times bigger than that of middle-income families ($96,500), up from 6.2 times in 2010. Upper-income families now have a median wealth level that is nearly 70 times that of lower-income families.
Raising or lowering tax rates is not going to make much of a difference at all to the ultra-wealthy and the largest corporations. A third of all the wealth in the world is now held in offshore tax heavens.
Poor would have more taxes to pay if the rich CEO's etc didn't rob their labor for such low pay. I also already know the typical republican response is well EVERY job is a contract and negotiation etc...try living in the REAL WORLD for a bit...its not so cut and dry unless you have some income coming in even while you are looking for new job you have NO leverage and employer has ALL leverage which is why government is needed to fix these problems. Employers are greedy and take advantage so its time to fight back.
Enough is enough.The economy needs higher taxes on the rich. It's the only way it works.
Do you think our government should or should not redistribute wealth by heavy taxes on the rich?
What a joke! If you tell people long enough and loud enough that they are victims and they are entitled to other peoples money ... Surprise! They start thinking you are right.
What a joke! If you tell people long enough and loud enough that they are victims and they are entitled to other peoples money ... Surprise! They start thinking you are right.
Taxation is an obligation of citizenship. And yes, I guess the highest earners feel entitled to tax breaks and subsidies, which gets funded by TAX PAYER MONEY! A joke indeed.
Taxation is an obligation of citizenship. And yes, I guess the highest earners feel entitled to tax breaks and subsidies, which gets funded by TAX PAYER MONEY! A joke indeed.
The top-earning 1 percent of Americans will pay nearly half of the federal income taxes for 2014, the largest share in at least three years, according to a study.
According to a projection from the non-partisan Tax Policy Center, the top 1 percent of Americans will pay 45.7 percent of the individual income taxes in 2014—up from 43 percent in 2013 and 40 percent in 2012 (the oldest period available).
The bottom 80 percent of Americans are expected to pay 15 percent of all federal income taxes in 2014, according to the study. The bottom 60 percent are expected to pay less than 2 percent of federal income taxes.
But then you knew that right?
At what point does your greed subside when the top 1% is paying 90% of the taxes and the lower 90 are paying 0% ?
The top-earning 1 percent of Americans will pay nearly half of the federal income taxes for 2014, the largest share in at least three years, according to a study.
According to a projection from the non-partisan Tax Policy Center, the top 1 percent of Americans will pay 45.7 percent of the individual income taxes in 2014—up from 43 percent in 2013 and 40 percent in 2012 (the oldest period available).
The bottom 80 percent of Americans are expected to pay 15 percent of all federal income taxes in 2014, according to the study. The bottom 60 percent are expected to pay less than 2 percent of federal income taxes.
But then you knew that right?
At what point does your greed subside when the top 1% is paying 90% of the taxes and the lower 90 are paying 0% ?
Again......
Quote:
Originally Posted by 2sleepy
You have taken one tax, income tax, out of the total tax burden. When it comes to state and local taxes, low and middle class taxpayers pay disproportionately more than the rich Do the wealthy pay lower taxes than the middle class?
When you look at the total tax burden and see what is paid as a percent of income it is apparent that a wage earner who earns $45,500 and pays 26.9% of that in tax is going to find it far more difficult to meet day to day expenses than a millionaire who has a total tax burden of 33.3% of a cash income of $1,542,000. Who Pays Taxes in America in 2014? | CTJReports
Also relevant to this discussion is how much of the money actually brought in by an individual is subject to taxation. The middle class do not have adequate income to use tax avoidance schemes and generally don't have a yacht that they can write off as a tax deduction so almost all of their income is subject to taxation unlike the ultra rich.
I'm not going to argue this to death because I don't think it is really relevant to the topic, but neither am I going to let your claims go unchallenged.
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