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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%?
The bottom 50% of this country pays 0. NOTHING.
People like you can never come up with a justified answer as to why half of this country should either pay nothing or actually get paid just to be here, while those of us who made ourselves successful should somehow have to shoulder even more of a burden than we already do (presently the top 5% accounts for over 60% of all taxes paid in this country)
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%?
Thanks for pointing out the obvious, that so many of the oblivious here misss. The "Bush tax cuts for the rich" benefitted the poor far more than the higher income brackets.
I'd be all for waiting a few months on the extension of the cuts, and allow a tax increase to take place for ALL taxpayers. When everyone sees the change in take-home pay maybe they'll get a clue.
Ben Bernanke stated on 60 minutes last night that the best thing the current congress could do to stimulate the economy would be to overhaul the entire tax code by simpifying it through eliminating most deductions and loopholes and lowering the overall tax rate for all income levels.
Thanks for pointing out the obvious, that so many of the oblivious here misss. The "Bush tax cuts for the rich" benefitted the poor far more than the higher income brackets.
I'd be all for waiting a few months on the extension of the cuts, and allow a tax increase to take place for ALL taxpayers. When everyone sees the change in take-home pay maybe they'll get a clue.
Ding Ding Ding!!! We have a winner of a post here. Exactly correct 100%. The Bush tax cuts benefited the poor far more than the supposed rich, but that doesn't make for interesting talking points with democrats, and it certainly goes against the left's mantra of "repubs are only for the rich, they don't care about the poor".
People like you can never come up with a justified answer as to why half of this country should either pay nothing or actually get paid just to be here, while those of us who made ourselves successful should somehow have to shoulder even more of a burden than we already do (presently the top 5% accounts for over 60% of all taxes paid in this country)
The people who don't pay any taxes are not just the lowest wage earners but those who bennefitted from tax deductions and loopholes. A family of 4 making $50,000 with 2 children under 17 pay no taxes. Many others make good use of tax loopholes and deductions to offset their taxes.
Meanwhile the Alternative Minimum Tax that was put in place in the 80's to tax the wealthy is adding an additional burden to the middle class earners that are far from rich.
We need to reform the tax structure to make the system fairer too all.
Ben Bernanke stated on 60 minutes last night that the best thing the current congress could do to stimulate the economy would be to overhaul the entire tax code by simpifying it through eliminating most deductions and loopholes and lowering the overall tax rate for all income levels.
i can get behind this proposal.
as to the OP, the democrats in congress want to keep the current tax rates on those making less than $250k per year, and raise the rates for those above that income level from 35% to 39.6%. the republicans want to keep the bush era tax rates for everybody.
I too favor an entire overhaul of the tax code. We now have a patchwork tax system that is outdated and archaic. We need a fair reassessment that takes into account the economic realities of the 21st century rather than bandaids on an outmoded 100 year old system.
Then in the name of fairness, should everyone just pay the same rate so we don't have such inequity?
Yes! Everyone pays.
Earn little; pay little. Earn more; pay more. Flat tax. Everyone pays; everyone has a stake in the country's fiscal responsibility!
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