Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Loopholes are legal - not illegal - they are ways to get around the tax system and keep money out of the gov't hands. And corporations use them all the time.
You made people keeping their own money sound like a bad thing while you use every loophole on the book to avoid paying taxes.
Last edited by lifeexplorer; 08-01-2019 at 06:19 PM..
I think it's amazing that people with relatively little (and that's most of the people I see jumping to the defense of the absurdly wealthy) go to bat so hard for people who don't give a damn whether the little people have healthcare and food.
And, none of that "they work harder" because that's nonsense.
When people like Warren Buffet are out there telling you they have way more money than they'll ever spend, it starts to make sense for noblesse oblige to kick in.
Alas, where our Congress really likes to cut deep is in that tier below the 1%, where most of the wealthier families in the US sit, where a percentage point or two in taxes or higher hits from the damned AMT actually DO make a difference in their spending ability. I have a feeling that people who defend the "wealthy" are really thinking of that group of people, and we all thank you for thinking of us, but tell Congress about it because it's not the "regular, high-earning households" that most people are actually referring to (even if they don't realize it) when they refer to the 1%.
Hell, the 1% are extremely unlikely to be posting on City Data. The 2-3%? Absolutely. The 3-5%? Even more likely.
It is astounding how big the gulf in income inequality is between the 1% and the 2-3% actually. Ever see a graph? It'll blow your mind.
Why shouldn’t people keep what they earn legally regardless they work hard or not?
Why should I be enslaved to provide you healthcare, food and education when your parents don’t even care?
Last edited by lifeexplorer; 08-01-2019 at 06:28 PM..
When politicians say that the rich should pay more in taxes I ask pay more for what reason?
When you look at the democrats who are running for president. They all want medicare-for-all and some form of free college. These things would require more taxation. But many Americans disagree with these things and the higher taxes that will come with them. So should the rich be paying more in taxes just to provide more funding for things many Americans disagree with? Aren't the rich paying enough taxes to cover our current government services and programs?
The wealthy should pay more taxes because they have more property and wealth that is protected by the federal government.
Besides, the overwhelming majority of these people were born into money and will enjoy the financial head-start they received at birth all their lives while the working poor will be forced to work for them and make them even more money.
Democrats, of course, would like to promise to heavily tax the wealthy, but they haven't since the Kennedy Administration and they won't now.
They'll also make promises for free Medicare and such, but the taxes, if any are imposed, will come from working Americans.
Location: New Albany, Indiana (Greater Louisville)
11,974 posts, read 25,395,588 times
Reputation: 12187
There's only one reason the rich should pay more: they can and still live a life of luxury. You tax someone making $30k a year $30k and they'll starve to death. You can tax someone making $8 million a year 50% and they'll still have a couple Ferraris.
There's only one reason the rich should pay more: they can and still live a life of luxury. You tax someone making $30k a year $30k and they'll starve to death. You can tax someone making $8 million a year 50% and they'll still have a couple Ferraris.
Wouldn’t that be taxation without representation?
The wealthy should pay more taxes because they have more property and wealth that is protected by the federal government.
Besides, the overwhelming majority of these people were born into money and will enjoy the financial head-start they received at birth all their lives while the working poor will be forced to work for them and make them even more money.
Democrats, of course, would like to promise to heavily tax the wealthy, but they haven't since the Kennedy Administration and they won't now.
They'll also make promises for free Medicare and such, but the taxes, if any are imposed, will come from working Americans.
Why? What’s your fair share to the society when others are paying more than you do? How is that in anyway moral, just or fair?
Who makes up the government in your opinion, from where I sit, its the citizens.
Sure, from a strictly factual perspective, you need to be a citizen to be elected, thats obvious.
They act (and are treated) as if they are a special class of citizen though, and they act as if they know whats best for us, and they have authority and power to hold over people in order to manipulate things to their own warped views instead of letting people enjoy as much freedom as possible.
EDIT - and also the "government" as an entity, not as individuals.
The top 400 taxpayers (minimum income: $126.8 million) do get a slight break likely due to the capital gains tax, and pay an average effective federal income tax rate of 23.13%.
What's stunning is how sharp the drop off the average effective federal income tax rate is when it comes to the top 5% to 10% (income: $140,000 to $200,000). They pay an average effective federal income tax rate of 14.05%. And then the effective tax rate drops exponentially from there as income decreases to the point that the average effective federal income tax rate of the bottom 40% is actually negative.
Our federal tax bracket system is lacking, and it unfairly punishes Americans in certain income brackets.
10,000- 10%
20,000- 12%
30,000- 12%
41,000- 22% (the tax bracket rate almost doubles at $41,000, but it only slightly rises for all other brackets)
50,000- 22%
60,000- 22%
80,000- 22% (these American make double of someone at $41,000, but they have the same tax bracket rate)
100,000- 24% (a 2% tax rate increase, but Americans at $41,000 get a 10% tax rate increase)
125,000- 24%
150,000- 24%
161,000- 32%
205,000- 35% (Americans making $205,000 are getting hammered with unfair 35% rates)
300,000- 35%
400,000- 35%
511,000- 37% (these Americans are in the same bracket as someone making $50 million a year)
600,000- 37%
800,000- 37%
1,000,000- 37% (these Americans are in the same bracket as someone making $100 million a year.)
5,000,000- 37%
10,000,000- 37%
20,000,000- 37%
50,000.000- 37%
100,000,000- 37%
A fair tax bracket system would be something like the percentages in the first column bellow,
-The tax % figures in ( ) are today's actual federal tax bracket figures.
$1,000- 0%
5,000- 5%
10,000- 10% (10%)
20,000- 12%
40,000- 14% (22%) These Americans are placed in a unfair tax bracket
60,000- 16%
80,000- 18% (22%)
100,000- 19%
180,000- 20% (32%) These Americans are placed in a unfair tax bracket
200,000- 21%
250,000- 22% (35%) These Americans are placed in a unfair tax bracket
350,000- 23%
450,000- 24%
600,000- 25% (37%) These Americans are placed in a unfair tax bracket
900,000- 26%
1,500,000- 30% (37%) These Americans are placed in a unfair tax bracket
2,500,000- 31%
4,000,000- 32%
6,000.000- 33% (37%) These Americans are placed in a unfair tax bracket
10,000,000- 34% (37%)
50,000,000- 35%
100,000,000- 37% (37%)
Our federal tax bracket system is punishing certain Americans with high tax rates by placing such large ranges of income in the same tax bracket. And it unfairly punishes certain tax brackets with unusually high tax rate increases.
Last edited by chad3; 08-01-2019 at 10:16 PM..
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.