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Yes it is hard and I read that you clearly haven't mastered it.
Apparently, not so much.
Quote:
Since the 1% pay about 36% of income taxes -- or about $1.1 trillion, lowering their taxes in half would mean that $550 billion in taxes would have to be spread out the bottom 99%. That means that their taxes would increase significantly.
You do realize that the bottom 99% actually earn most of the income, right?
That's why increasing income taxes on only the so-called "rich" will have such little impact. They earn only a small percentage of the income.
If the 1% gives up their government granted monopolies, we can talk about "flat taxes". As of now the government sends them money, let alone taking it away.
Any facts to back up this statement, or is it just psychobabble?
Furthermore, it conflates federal income tax with payroll taxes. That's deceptively manipulative because:
1) There is no cap on the Medicare tax.
2) While there is a cap on the Social Security tax, there is also a cap on the benefits making Social Security a LOSING proposition for everyone in the middle class and above, with the most losses suffered by the highest income earners. Social Security not a good deal for workers - Yahoo! News
No, it doesn't, and the poster has already told you that.
The poster backtracked when info was posted that the top 5% pays WAY more than their fair share of the federal income tax, in direct contradiction to what the poster thought was true.
Debtor financing buying big barns of housing isn't a protected class? If I pay cash, I am a blight on the society. However if I go into hock and get a nice big tax deduction I am a hero? That it?
That makes no sense. Not everyone finances purchases.
Pension/retirement funds' holdings and investments. Or was that over your head?
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