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This question appears to be one that sparks a very distinct reaction from everyone, in every field and at all ranges and levels of the political, business, and social spectrum. It shows up in our fundamental sense of fairness, our political aspirations and our livelihoods as taxpayers, business owners and employees.
Is it fair that the top 5-10% pay the majority of taxes?
Jps revision - "Is it fair that the top 5 - 10% of the earners pay a higher percentage of their income in taxes than everybody else does?"
This question appears to be one that sparks a very distinct reaction from everyone, in every field and at all ranges and levels of the political, business, and social spectrum. It shows up in our fundamental sense of fairness, our political aspirations and our livelihoods as taxpayers, business owners and employees.
Is it fair that the top 5-10% pay the majority of taxes?
*waves hand*
Me, me! Call me!
"Our" fundamental sense of fairness is not all the same. Define fair, then tell me fair to whom.
But, before you get to the important stuff, let me point out that I think you mean for your question to be slightly different than it is.
Even under a flat tax system in which each party pays a fixed percentage of income, the top 5-10% will pay the majority of taxes because they are making the majority of the money.
I think what you mean is "Is it fair that the top 5 - 10% of the earners pay a higher percentage of their income in taxes than everybody else does?"
"Our" fundamental sense of fairness is not all the same. Define fair, then tell me fair to whom.
But, before you get to the important stuff, let me point out that I think you mean for your question to be slightly different than it is.
Even under a flat tax system in which each party pays a fixed percentage of income, the top 5-10% will pay the majority of taxes because they are making the majority of the money.
I think what you mean is "Is it fair that the top 5 - 10% of the earners pay a higher percentage of their income in taxes than everybody else does?"
"Some 21 percent of those with salaries of $100,000 or more say they are living paycheck to paycheck, according to a recent survey conducted by CareerBuilder.com."
"While experts are quick to acknowledge that high gasoline prices, the slumping housing market and a generally weak economy are weighing on consumers' finances, they also agree that the general difficulty in making ends meet is also the result of persistently bad spending and saving habits that are now catching up with the spendthrift American."
Group's Share of Income Taxes Top 50% 97.01%
Bottom 50% 2.99%
The same top 50% earns all together a little more than 7 times more than the bottom half. It's already very progressive. I think adding even more will bring more folks back into conservation mode.
So if the minimum wage remains at let's say $8 what is the percentage of taxes that needs to be deducted from Joe worker to make Mr Millionaire feel that all is equal?
So if the minimum wage remains at let's say $8 what is the percentage of taxes that needs to be deducted from Joe worker to make Mr Millionaire feel that all is equal?
For me, that seems too personal a phrasing, Marita, though I understand the urge.
There have been a number of flat tax proposals through the years, in which, above a certain minimum income all income would be taxed at the same percentage rate.
That is what many of those who decry progressive taxation would like to see happen, regardless of the rate chosen. (A few flat tax advocates oppose even the exception of a minimum income, and a few believe in having the minimums slightly graduated.)
Last edited by jps-teacher; 09-13-2008 at 03:39 PM..
Reason: clarity and softening
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