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I don't agree with much of what C2BP says, but in an era of gross inequality, where the wealthiest 1% enjoy a greatly disproportionate share of income and wealth... I'd say it's matter of course that they should pay a disproportionate share of taxes.. Who else can pay? They have most of the money.
Because of their small numbers, the top 1% do not actually have most of the money. Nor do they actually pay disproportionate shares of their income in total taxes. While they do pony up lots in terms of individual and corporate federal income taxes, when payroll taxes, excise taxes, and state and local taxes are added in, a very different picture emerges. The top 1% lose about 29% of their income to taxation of all sorts. Meanwhile, Americans in the 60-80% band by income, lose about 28% of their income to taxation of all sorts. Even those in the bottom 20% by income with all their tax breaks lose about 17% of their income to total taxation. That's the sort of thing that's actually going on out there, no matter what politicians of any sort or stripe may try to tell you.
I don't agree with much of what C2BP says, but in an era of gross inequality, where the wealthiest 1% enjoy a greatly disproportionate share of income and wealth... I'd say it's matter of course that they should pay a disproportionate share of taxes.. Who else can pay? They have most of the money.
And of course the rich do indeed pay a disproportionate share of taxes -- both directly and through the immoral double taxation of dividends.
Eliminate all deductions. All of them, yes including the holy grail mortgage interest deduction.
What do you suppose would be the situation for homeowners who bought and financed a home when mortgage interest was deductible as they then tried to sell such a home to a person who could NOT deduct mortgage interest?
Just look at that chart from 2008 and you can see that our economy is dead. You can almost compare it with a heart rate chart. ..^...^....^....^..^..^........................... ........beeeeeeep.........economy is dead...................we are on life support......................beeeeeeeeeeeep.
That chart tells you everything right there. Time to wake up!!!!!!
Please, just look at that chart again. Patient is dead, our economy is dead................beeeeeeeeeeep....since 2008.
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