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Well, personally, I think he is doing those outside of that middle of five brackets a disservice. I suspect a large percentage of the true middle class dwells there.
He's the Harvard Economist. You want to tell him he's wrong?
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Interesting, but he should know............
Yep.
But then again there are a LOT of facts in this thread that people are surprised to learn. Seems they've been spoon-fed some really bad agenda-laden info, and are believing it without question for whatever reason.
Well, personally, I think he is doing those outside of that middle of five brackets a disservice. I suspect a large percentage of the true middle class dwells there. Like at the edge of the bottom 1/5 and the edge of the top fifth. Just exactly how are those fifths broken up, anyways? Dirt poor, just plain ordinary poor, middle, rich and then filthy? Interesting, but he should know............
By income. They're separated in fifths. By definition the middle quintile is the middle income returns.
Fair share would be a top Fed rate of 28%. That rate was found to bring the most money into the Treasury.
The big issue is the size of our government; the over massive employment and compensation of government workers; and all the people we cover with entitlement programs who are not disabled or elderly. Those are the reasons we need so much citizen's money. SAD!
What would be a step towards fair is, reverse all the tax policies of GW, get out of this mess and gut the loopholes along the way.
One hundred people, 99 earns $100 a week and one person earns $10,000 a week. If those 100 people each pay fixed costs of living each week of $90 a week that leaves the 99 with $10 a week to spare and that one guy with $9,910 a week.
Now on the government end you have a government that needs $5000 a week to maintain the infrastructure, road, water works, sewers, police, the courts and to defend the borders.
Where do you get that $5000? The 99 only have $990 left to their name. What should the one guy with that $9910 pay, ten dollars like the others paid, 10% like the others paid or should he pay a greater share because he benefit much greater than everyone else? Should he pay the balance of $4,010?
If the 99 pay their remaining $10 toward taxes they are penniless at the end of the week. If the one guy pays the balance of the taxes he still has $5900 at the end of the week. 10% tax on lower earner and 40% tax on high earner.
To me, that is why we have a progressive tax system. If the high earner doesn't pay up, who does? Do the 99 have to go into debt to pay taxes? Are they supposed to not eat once a week? Live under a bridge so the one guy can have more folding money at the end of the week.
One hundred people, 99 earns $100 a week and one person earns $10,000 a week. If those 100 people each pay fixed costs of living each week of $90 a week that leaves the 99 with $10 a week to spare and that one guy with $9,910 a week.
Now on the government end you have a government that needs $5000 a week to maintain the infrastructure, road, water works, sewers, police, the courts and to defend the borders.
Where do you get that $5000? The 99 only have $990 left to their name. What should the one guy with that $9910 pay, ten dollars like the others paid, 10% like the others paid or should he pay a greater share because he benefit much greater than everyone else? Should he pay the balance of $4,010?
If the 99 pay their remaining $10 toward taxes they are penniless at the end of the week. If the one guy pays the balance of the taxes he still has $5900 at the end of the week. 10% tax on lower earner and 40% tax on high earner.
To me, that is why we have a progressive tax system. If the high earner doesn't pay up, who does? Do the 99 have to go into debt to pay taxes? Are they supposed to not eat once a week? Live under a bridge so the one guy can have more folding money at the end of the week.
What's sad about the scenario you painted is that 99 people decided to be 1% as productive as the 1 person.
Is fair about equal sharing - each person paying a fixed amount - or each person paying a fixed percentage?
Is fair about people paying for what they use?
Why is much of the public discussion of taxes based on what people earn? Every American should have a stake in the role of government in the country. There should be a census taken of adults 21 (or working age, whatever) and over. And there should be a total cost of government. Divide the cost by the number of adults. Everyone pays the same. Everyone would have an interest in keeping costs down. There is no penalty for earning more money than others - which to me is "fair" because if you put the work in, you should benefit. There are no loopholes. You send in a check - no taxes taken direct from anyone's paycheck. There is predictability and you can plan for how much will be paid. No forms.
I know there would be complaints about the poor and how much of a percentage they would have to pay. If you are concerned about that, keep the cost of government low so as to not put a large burden upon them.
The biggest problem is the 47 percent that are not paying any federal income taxes. Everyone should pay something or receive nothing back from the taxpayers. It is only fair.
One hundred people, 99 earns $100 a week and one person earns $10,000 a week. If those 100 people each pay fixed costs of living each week of $90 a week that leaves the 99 with $10 a week to spare and that one guy with $9,910 a week.
Now on the government end you have a government that needs $5000 a week to maintain the infrastructure, road, water works, sewers, police, the courts and to defend the borders.
Where do you get that $5000? The 99 only have $990 left to their name. What should the one guy with that $9910 pay, ten dollars like the others paid, 10% like the others paid or should he pay a greater share because he benefit much greater than everyone else? Should he pay the balance of $4,010?
If the 99 pay their remaining $10 toward taxes they are penniless at the end of the week. If the one guy pays the balance of the taxes he still has $5900 at the end of the week. 10% tax on lower earner and 40% tax on high earner.
To me, that is why we have a progressive tax system. If the high earner doesn't pay up, who does? Do the 99 have to go into debt to pay taxes? Are they supposed to not eat once a week? Live under a bridge so the one guy can have more folding money at the end of the week.
The one guy, paying more, realizes he is being "skinned" and is paying everything for everybody else. He leaves the country, or moves his assets out of the country, and the road, sewers, water works ect are never built. The people remaining, being far worse off than before, look for the next "richest" person to skin, thus driving them out as well. It is a communist death spiral. One must ask all the liberals- would you work for free for someone else? Of course not! So why do you ask others to do the same thing? One would have to be insane to "agree" to these wishes.
The liberal fantasy of enslaving someone else to pay for everything is a fantasy. No one in thier right mind will become a slave for the pleasure of others.
Didn't you read Animal Farm in school? The pigs killed Merry, the horse; when the socialists kill the engine of industry, there is no industry, the standard of living declines, then everyone is "happy". Wake up- if socialism was so great, the USSR and North Korea would rule the world.
One hundred people, 99 earns $100 a week and one person earns $10,000 a week. If those 100 people each pay fixed costs of living each week of $90 a week that leaves the 99 with $10 a week to spare
The 99 need to reduce their fixed costs of living. Get a roommate. Spend less on eating out. Walk to work or use public transportation.
But MOST of all, PAY YOUR FAIR SHARE!!!
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