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But the people in the bottom need more federal aid. Why is it surprising they get more?
If they can't survive without federal aid, maybe they should rethink their choices in life or give a second thought about increasing the size of their family?
1-Throw away both the federal and state income tax.
2-Throw away the property tax.
3-Implement a sales/consumption tax of 10% on all goods and services (with food, medicine etc... Obviously being tax exempt). 5% of all tax revenue goes to the local state, the remaining 5% goes to the Federal Government.
4-The Government adheres to a strict budget. It is not allowed to borrow or spend more than it makes.
5- Watch the economy flourish.
Also under this system everyone would pay their fair share, especially the wealthy because there would no longer be loopholes for them to exploit with their income taxes.
I hear President Obama speak of "fair share" when it comes to the wealthy. What is the fair share of other groups?
well, taxing passive income (capital gains and dividends) at a higher rate than wages (income and payroll combined) is the first step in ensuring the wealthy pay their fair share.
i don't particularly care what the poor people pay, because they don't have any money in the first place; i just want to make sure the billionaires are paying at least as much as the middle class.
The two groups that dont pay taxes are SS recipients with low incomes and lower income people often familes claiming earned income tax credit and child tax credit. The figures get distorted when you "charge" SS, Medicare, Medicaid, EITC, etc. against every dollar each group pays in. Obviously retirees on SS and Medicare will distort what the lowest quintile pays in.
Not by as much as you think. Those 65 and over are only 13.7% of the population. Roughly 47% of the tax-eligible pay no federal income tax whatsoever. Even assuming that the senior 13% are eligible for taxation (highly unlikely), how do you explain the other 33.3% (1/3 of working age tax-eligible Americans) not paying any federal income tax whatsoever?
Not by as much as you think. Those 65 and over are only 13.7% of the population. Roughly 47% of the tax-eligible pay no federal income tax whatsoever. Even assuming that the senior 13% are eligible for taxation (highly unlikely), how do you explain the other 33.3% (1/3 of working age tax-eligible Americans) not paying any federal income tax whatsoever?
He can't because he's declared jihad on Social Security recipients.
The bottom Quintile of income earners receive on average $9.62 in federal aid for every $1.00 they pay in ALL Federal taxes combined. The middle quintile averaged $1.19 in federal aid for every $1.00 they pay in ALL Federal taxes combined.
My wife and I help people with their taxes for free - almost all lower income families. Many of which get back thousands more than they pay in. Literally turning a sizable profit off of federal income taxes that would cover all their state and local taxes - with the net effect of paying nothing into the system.
I hear President Obama speak of "fair share" when it comes to the wealthy. What is the fair share of other groups?
I've said this before. It takes money to make money. If you tax the lower classes, you ruin their chance at upward mobility. If you look at the upper classes, there are A TON of government expenditures which they benefit from: military, farm bill... So, they should pay for the benefits that they use. And when the lower classes move up, then they can start paying more too. Higher taxes rates (but below 50%) don't discourage higher earnings.
1-Throw away both the federal and state income tax.
2-Throw away the property tax.
3-Implement a sales/consumption tax of 10% on all goods and services (with food, medicine etc... Obviously being tax exempt). 5% of all tax revenue goes to the local state, the remaining 5% goes to the Federal Government.
4-The Government adheres to a strict budget. It is not allowed to borrow or spend more than it makes.
5- Watch the economy flourish.
Also under this system everyone would pay their fair share, especially the wealthy because there would no longer be loopholes for them to exploit with their income taxes.
Throw away the property tax and watch land prices spiral out of control with those who owned land first getting the obvious free lunch.
Take the total amount necessary for government to preform it's necessary and enumerated functions according to the constitution and divide that number by the total number of American citizens
Whatever number you come up with = every American citizens "fair shair".
The bottom Quintile of income earners receive on average $9.62 in federal aid for every $1.00 they pay in ALL Federal taxes combined. The middle quintile averaged $1.19 in federal aid for every $1.00 they pay in ALL Federal taxes combined.
My wife and I help people with their taxes for free - almost all lower income families. Many of which get back thousands more than they pay in. Literally turning a sizable profit off of federal income taxes that would cover all their state and local taxes - with the net effect of paying nothing into the system.
I hear President Obama speak of "fair share" when it comes to the wealthy. What is the fair share of other groups?
I am SO sick and tired of seeing this crap. It applies only to parents of dependent children; childless adults typically get little or nothing. A childless adult working full time at minimum wage pays over $500/yr in federal income tax and over $1000/yr in payroll taxes, while a homeowner family of four earning $50k-$75K often pays less income tax than the burger flipper.
I consider everyone's fair share of taxes to be a flat percentage of all discretionary income, i.e. all income above that required for basic living expenses for which I would use the 20th percentile of spending. If home ownership were allowed by government to be scalable, I could support a flat percentage of discretionary spending.
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