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How come the govt wants to raise taxes for low income 50% 10% to 15% but will not raise tax rate on the rich 50% rate will go to 33%to 39%?
how about repealing the 16th Amendment, fire 100% of all tax agents, and go with a 23% sales tax. then everyone is treated faily across the board, no tax breaks for anyone or any corporation.
Which would result in an increase of taxes to the poor and middle class.
Nope. Not according to Dems/liberals. This would require the rich to pay the taxes they're supposedly not paying now, thereby reducing the tax rate on the poor and middle classes.
Nope. Not according to Dems/liberals. This would require the rich to pay the taxes they're supposedly not paying now, thereby reducing the tax rate on the poor and middle classes.
It wouldn't because the flat tax rate would be low enough that the rich would be less, and high enough the working and middle class paid more.
We are already know this using your example. Its obvious to everyone (even you) that a flat tax rate of 6% sure as hell isn't sustainable.
Of course thats not exactly what they say, but rather that they don't pay their fair share and escape much of their tax burden.
Hmmm... Escape their tax burden? Nothing could be further from the truth.
The top 1% earns 20% of the income, but pays 38.02% of the income tax revenue. They're actually paying nearly twice their fair share of income tax when compared to their share of the income.
Table 1: Summary of Latest Federal Individual Income Tax Data
If you really want the rich to pay their fair share, we need to get those percentages more in line. Earn 20% of the income; pay 20% of the taxes.
Hmmm... Escape their tax burden? Nothing could be further from the truth.
The top 1% earns 20% of the income, but pays 38.02% of the income tax revenue. They're actually paying nearly twice their fair share of income tax when compared to their share of the income.
Table 1: Summary of Latest Federal Individual Income Tax Data
If you really want the rich to pay their fair share, we need to get those percentages more in line. Earn 20% of the income; pay 20% of the taxes.
They are able to escape more of their tax burden through write offs, hence not paying their fair share.
Fact is, a fair tax would cause the taxes on the working and middle class to increase. A 6% flat tax rate would be completely unsustainable, no matter how much in write offs are curtailed I think we all realize this.
They are able to escape more of their tax burden through write offs, hence not paying their fair share.
How does paying nearly twice their share of earnings mean they're not paying their fair share?
In reality, they're OVERpaying by about 100%. Reduce their tax burden to bring it more in line with their share of the earnings, and then they'll be paying their fair share.
How does paying nearly twice their share of earnings mean they're not paying their fair share?
In reality, they're OVERpaying by about 100%. Reduce their tax burden to bring it more in line with their share of the earnings, and then they'll be paying their fair share.
Because under a progressive tax system the wealthy pay more. If they are escaping more of their tax burden than others (which they are using write offs). Then they aren't paying their fair share.
Anything such as a flat tax are anything of that ilk would cause large increases in taxes for the middle and working class. My example with the $75,000 family of four shows this. A 6% flat tax is in no way shape or form remotely sustainable no matter how much you are able to reduce write offs.
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