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Who sets compensation for government workers? Not the poor. So why should private sector workers pay inflated taxes in order to give government workers fat compensation packages for doing similar work?
e.g. I once worked as a janitor, working alongside government janitors who were paid 3x my nominal wage plus 2x more in benefits. Why shouldn't they pay more taxes?
A flat rate (percentaqe) of all consumption above 20% of median consumption per Consumer Expenditure Survey (CES).
Consumption taxes are regressive and don't work to tax the rich their "share". The poor pay, the rich don't.
What's to stop millionaires from buying their Yacht in Monaco or keeping 50% or putting their Caribbean condo in the name of their Intl LLC - registered in Panama ?
Who sets compensation for government workers? Not the poor. So why should private sector workers pay inflated taxes in order to give government workers fat compensation packages for doing similar work?
That has absolutely nothing to do with the fact that the top 5% WAY over-pays their fair share while the bottom 95% underpays their fair share.
That has absolutely nothing to do with the fact that the top 5% WAY over-pays their fair share while the bottom 95% underpays their fair share.
I'm guessing that I paid a higher effective tax rate than the government janitors paid. They had mortgages and kids and those generous untaxed fringe benefits while I was a childless rent serf with no freebies or tax breaks.
I'm guessing that I paid a higher effective tax rate than the government janitors paid.
The bottom line is you BOTH underpaid your fair share.
In order to pay one's fair share, nothing more and nothing less, one's effective federal income tax rate needs to be about 14%. That's total federal income tax revenue divided by total income.
$1.374 trillion ÷ $9.709 trillion = ~14%
Interesting chart that shows who's underpaying and who's overpaying their fair share:
Who sets compensation for government workers? Not the poor. So why should private sector workers pay inflated taxes in order to give government workers fat compensation packages for doing similar work?
e.g. I once worked as a janitor, working alongside government janitors who were paid 3x my nominal wage plus 2x more in benefits. Why shouldn't they pay more taxes?
If they were paid 3x your wage, they did pay more taxes.
If they were paid 3x your wage, they did pay more taxes.
Sure, and they paid a lower effective tax rate than I paid. I could argue that since I worked with them and did similar work, our employer underpaid me in order to overpay them, i.e. money was redistributed from my paycheck to theirs. You can't say with a straight face that their labor was worth 5x or even 3x my labor.
Wow, a lot of generalizations there. Don't hate people who are more successful than you. That is the number 1 thing I taught my children and anyone asking for advice. Learn from them.
Number one, they are SMART.
Number two, they are HARD WORKERS
Number three, they are WISE BEYOND THEIR YEARS. Most rich people I know started out making good decisions very early in life.
Even if they are people who inherited their money...if they invest it wisely they are still helping the economy and other people who depend on those funds for a living.
Those are generalizations as well. You also left out the concept of ethics.
Most people who make it have to step on toes. It is just the reality. Take being a lawyer, it is not possible to be totally straight forward and also bill the highest amount of hours. Some will do honest work, but most want to drag a case out for more hours and that is not in the best interests of their clients. Financial advisors oversell all the time. Slumlords tend to get rich over decent landlords who care about their tenants.
This isn't hating on, it is simply the truth. Some of us reach a crossroads and if you don't take the morally lower road, you don't get to move very far ahead.
Those are generalizations as well. You also left out the concept of ethics.
Most people who make it have to step on toes. It is just the reality. Take being a lawyer, it is not possible to be totally straight forward and also bill the highest amount of hours. Some will do honest work, but most want to drag a case out for more hours and that is not in the best interests of their clients. Financial advisors oversell all the time. Slumlords tend to get rich over decent landlords who care about their tenants.
This isn't hating on, it is simply the truth. Some of us reach a crossroads and if you don't take the morally lower road, you don't get to move very far ahead.
Only true if there aren't any competitors. I don't deny there are already going to be shady characters, but no company can really survive for being shady.
If company X can do it in shorter time, you wouldn't waste your time with company Y. Competition is forcing everybody to do things better and faster.
I am sure many are sick and tired of all these million/billionaires hogging all the money spending it on frivolous things rather than helping poor people. Hypothetically let's say every person that has millions/billions were forced to distribute all their money to the poor and social programs, how would you feel?
Wealth redistribution usually is not very effective. It's been tried many times, and often the country simply ends up being poorer. The money and talent simply ends up fleeing the country.
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