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Progressive taxation is the cornerstone of a developed society. Without high income taxes on "the rich," they are able to hoard more. Prosperity does not trickle down in the real world.
Disclaimer: Progressive taxation is not just about revenue, it is about incentive. Higher taxes on the rich discourage excess hoarding and outlandish salaries.
Second, Tax hikes on the rich are unjustified from a moral and a pragmatic perspective. It is unjust for the government to forcibly take money from one person to give to someone else in the name of “fairness.”
Dramatically cutting spending is the best way to reduce the federal deficit-- not forcing job creators to surrender more of their money to the federal government.
So you want to punish success. As do these so-called 52% BS.
So you advocate socialism.
Hint, the rich already pay the majority of the taxes while the poor pay none.
Actually, you are wrong.
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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