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lol uh, you do know the difference between wealth and income right? Yet, the government taxes income and the useful idiots bought into the lie that they were wealthy. No damn wonder people are struggling. They don't understand the basics and are easy to fool and be taken advantage of and the naive willingly vote because he's going after the guy who has more than he does. Tax the "rich" people making an "income" .... that should have been a blaring clue that a politician was on the take and not for the American people's benefit .... idiots, useful idiots.
SOME people advocate for taxing WEALTH, and conservatives squeal like stuck pigs.
Think about they get most of their income tax back and benefits from programs like Hud, Wick and Medicare to take care of their expenses. So if they earn 30K from Burger King of Walmart they are getting anther 25K in benefits!
It breaks doen to:47% pay for the 53%. Please not of this number there is disable and VA entitlements.
But there is a strong proportion who count on Gov. Benefits as their regular salary.
From the tax payers the 47% who pay the bills!
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Half of all low-income renters pay at least half their income for shelter, according to Mortgage News Daily.
That right there is proof that most low-income renters do not receive benefits from HUD programs. (Because the HUD recipients pay 30% of their income for shelter.)
Rental assistance is very difficult to get unless you have kids or are elderly.
Childless adults working full time at minimum wage did not receive freebies before Obamacare; now in some states they get Medicaid.
And don't forget, the 53% who pays for the bottom also pay FULL PRICE for everything while the bottom gets breaks. Example...
Your kid wants to go to college - The bottom half gets all kinds of funding if only they complete the paperwork. The upper half has to put money aside for many years. Both get the same education only the family who already pays for the lower half also has to pay full price for the same education, yet the bottom half still b*tches. Maybe the bottom half would rather the college just give "A" and pass them while the upper half has to work and study for that education.
Actually, the upper middle class has seminars and professional advisors who help them structure their finances to maximize the college financial aid their children get.
Obama supporters, those who think they are going after the rich, those who think it's good to force people to give more to the government don't know their asses from a hole in the ground. Your right, they don't know how the financial system works. They supported Obama as he took more money from the middle class and don't even know it.
Do you know what a HENRY is? High Income Not Rich Yet. The left screwed people who get educated and offer high skills who have not had time to build wealth. If they voted for Obama they screwed themselves and I have no sympathy for them. Let them pay for the low class.
Really, we need to focus on better allocation of our EXISTING taxes. There are plenty there and some painful adjustments are needed because we are wasting literally billions on defense and HC/Pensions for starters (anything over 5% needs readjustment)
You have the social-justice/economic justice people, who in the vast majority of cases, have absolutely no clue how the financial system actually works. They only look at tax rates, or arbitrary income/poverty numbers, and demand something should be done.
The leftie economic and tax organizations are all about EFFECTIVE tax rates, which is what matter, and not about nominal tax rates.
They also look at exorbitant rents, because that puts nominal income numbers in context. A (poor) homeowner living on $11K with a paid off house and a property tax deferral is way better off than a (not poor) renter living on $12K and paying half his income to rent a crummy room.
Location: The Land Mass Between NOLA and Mobile, AL
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Quote:
Originally Posted by ellemint
Someone may have already noted this, but when it comes to state and local taxes the poor pay twice as much as the wealthy.
As The New York Times put it:
“In 2015 the poorest fifth of Americans will pay on average 10.9 percent of their income in state and local taxes, the middle fifth will pay 9.4 percent and the top 1 percent will average 5.4 percent.”
This is true, and it helps to explain why brief sales tax holidays for things like school supplies and clothes are popular in relatively poor states like MS. I've lived in states that have state income taxes and those that don't, as well as states that do and do not tax non-convenience item grocery store food purchases and non-luxury apparel purchases (these exemptions differ by state; you could check TX, which exempts many grocery purchases as compared to both NJ and MN which exempt both many grocery and clothing purchases). As a middle-income person, I'd much prefer to get the break in sales taxes for essentials like food and clothing while paying a calibrated state income tax.
Another thing I haven't seen brought up here is the fact that in much of the U.S., public schools are supported by property taxes. These can vary widely by state-of-residence, and they are also paid by renters (landlords factor these into rent increases). My point is that the term "taxes" is incredibly complicated, and any discussion of it should also include discussion of the public goods we all share, however those might be defined. As someone who has traveled by car across the country several times, I've benefited from an Interstate system I didn't pay for, even when I've paid tolls to help maintain it, and that's just one small example of how taxes help pay for public goods.
All these factors render many blanket statements about taxes almost meaningless.
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