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Also, can't use average rates...need to look at Median rates...since a huge protion do not pay income tax. For those who say we can't afford to lower rates..sure we can if we stop spending. Either one thinks it is the responsiblity of the few to pay alot to support the collective, or everyone pay a litle to support the collective....
Payroll taxes bring in as much revenue as income taxes and working people pay a higher percentage of their income on payroll taxes than the rich do.
As the economy has grown, so has the absolute amount of taxes, and even the amount adjusted for inflation. So no, we're not paying less; we're paying more. But relative to a year's worth of economic output (GDP), government revenues have remained pretty constant, and with the tax cuts of the last decade, are now actually lower, as a share of GDP, than at any time since 1950
Federal payroll taxes, or social insurance contributions, consist of tax revenues from Social Security, Medicare hospital insurance, unemployment insurance, railroad retirement, and other retirements. Social Security makes up the lion’s share of federal payroll taxes-73 percent of the $713 billion collected in 2003. Medicare, the second largest component, makes up 21 percent of payroll tax revenues. The remaining revenue is divided between unemployment insurance (5 percent), railroad retirement (less than 1 percent), and other retirements (less than 1 percent).
SInce SS is the largest part of Payroll, most people get that back in retirement. Income tax is not given back..and fewer people pay into the system..with 47% opting out and getting services for free.
No, I refuse to buy into the idea that the few should pay for the majority...
and what is a working person? I believe everyone who has a job is a working person...what has the ability to pay and hardness have anything to do with paying for reciieved service? Your saying just because it is hard on someone they should not be expected to pay for services recieved, and that someone else should foot the bill?
As the economy has grown, so has the absolute amount of taxes, and even the amount adjusted for inflation. So no, we're not paying less; we're paying more. But relative to a year's worth of economic output (GDP), government revenues have remained pretty constant, and with the tax cuts of the last decade, are now actually lower, as a share of GDP, than at any time since 1950
I'm done with you. You don't even have the sense to know why "relative" taxes burden is what you look for. Not the absolute tax rate...
Even a 3rd grader would know you don't care about absolute tax rate when the population of the USA in the 1950's was half of what it is now....LOL
I'm done with you. You don't even have the sense to know why "relative" taxes burden is what you look for. Not the absolute tax rate...
Even a 3rd grader would know you don't care about absolute tax rate when the population of the USA in the 1950's was half of what it is now....LOL
Nothing more to say jabberjaw..I think absolute tax is impt...unless your argument is that people should pay for services based on the dificulty of paying versus paying for actual services recieved and their cost to provide...
our FEDERAL tax RATES are at their lowest...but the amount actually paid federally is MUCH HIGHER now(since we closed many of the loopholes from the 50-60's
and we pay LOTS more at the state/local/point of service level
back in the 50's the payroll tax (which was VOLUNTARY) was 1% not the 6.2%
my property tax is 20% of my gross pay
I don't know that the amount paid federally is that MUCH HIGHER, but I think that the overall amount of taxes is MUCH HIGHER. State and local taxes in their various forms seem to have risen dramatically over the past five or six decades.
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