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if the percentages are different then it's not a fair share...
Let's say the rich person is using $80,000 in infrastructure and is paying $58,000,000 in taxes while the working person is using $8,000 in infrastructure and is paying $6,000 in taxes. In what universe is the working person paying more than his "fair share" and the rich person not paying his "fair share"?
I guess that would be the "I just don't like rich people" universe.
No, they don't. And that's been explained and proven many, many times. Please stop holding onto that delusion.
The top 5% (income of $175,817 or more) earns 36.8% of the income but pays 58.9% of the federal income tax.
The top 10-25% (the middle class, if you believe that's an income of $73,354 to $125,195) earns 21.4% of the income, but pays less than their fair share of the federal income tax at just 16.3%.
" I think it's awesome that you're happy to pay more taxes than billionaires"
As someone in a couple of posts up said, " prove it"
HMM, I wonder who that was?
Some people can't comprehend simple math.
No kidding. It's our country's public schools. Despite spending more than any other country on education, only 1/3 of all U.S. public high school graduates are educated to even a basic 12th-grade proficiency level in math and reading. Many, many adult Americans are mathematically illiterate and have little to no critical thinking skills. They're easy to "Gruber," as sad as that is.
No kidding. It's our country's public schools. Despite spending more than any other country on education, only 1/3 of all U.S. public high school graduates are educated to even a basic 12th-grade proficiency level in math and reading. Many, many adult Americans are mathematically illiterate and have little to no critical thinking skills. They're easy to "Gruber," as sad as that is.
So true! Like taxation, lefties love to complain about the education system, but will never do anything to fix it. Illiterate voter is a liberal voter.
One can only spend dollars, not percentages! The single American paying 21% on $100K is paying a healthy $21K, but, that doesn't really compare with Buffett who may pay 11%, but, in terms of dollars is paying $110 Million one each of his billions; Plus, he is paying a large number of employees who also pay taxes.
Yes "The top 10 percent of taxpayers paid over 70% of the total amount collected in federal income taxes," but that statement is "highly" misleading.
No, the really misleading statement is that non-billionaires are paying MORE (percentage-wise) than the wealthy -- since nobody can spend percentages.
I'm sure they would be happy with that, since they are now paying about 70% of the total taxes -- Are you saying that is fair? ... or did you not read the article?
Then America's retired workers do not pay taxes, so they are not in the tax picture. And people who do not work, min wage workers, and low income single parents do not pay significant taxes. So when you look at all the facts the top 10% paying over 70% is not anything unfair or unusual.
Who told you that America's retired workers do NOT pay taxes (in addition to the taxes they paid while working for over 40-years?? (Most retirees pay significant taxes and then there are RMD's to ensure retirees don't slip-by). On the other hand, add immigrants, those on disability and many others who pay no taxes, but, collect tax-funded Welfare, Medicaid, Food Stamps, Subsidies, etc; plus those collecting 2-years or more of unemployment compensation for not working. --- When you really look at the facts, you have 10% paying 7-times more ($'s) than their fair share, while almost half pay nothing (and many of those collect an income while others work). In addition, the wealthy also fund most philanthropic efforts! ... plus, why should they be penalized for working harder and smarter and providing jobs for others?
I'm not suggesting that the wealthy should not pay more ($'s) in taxes, but, the media/liberal-spin that tries to fuel the fires of class warfare by talking percentages, rather than dollars (typically pandering to the larger number of voters seeking more give-away's) ... is simply dishonest! -- Do you also believe that the wealthy should receive 7-times the votes?
But in reality its only CEO's who are cheating taxes. For example, CEO Dick Cheney pays a 6% tax rate on his $9 million dollar income. http://www.ctj.org/pdf/bushchen05.pdf
I heartily agree that there are many who take advantage of tax loopholes to avoid taxes ... and would strongly favor a flat tax rate on all! -- But, your notion that these folks are 'cheating' or doing something dishonest is not really the case. They are honestly taking advantage of legal loopholes.
This is a very biased view of "fair share" -- Who says it is fair, except for the politicians who do nothing, but, spend and give-away more than anyone's 'fair share'? ... Further, the notion that we can indefinitely spend ourselves into Debt without ultimately raising taxes on everyone to pay the debt back (certainly a major effort of the current Democratic administration) ... is both short-sighted and 'unfair' to future generations of Americans.
Learning how to absolutely minimize their tax burden is one of the important steps on the ladder to billionaire status. Being in the right place at the right time with a hundred million or so is another significant step.
Of course the middle class pays the taxes.
Some middle class federal tax scenarios. These are without FICA and with zero federal withholding
A married family making 100,000 with 2 kids and 20,000 of itemized deductions (reasonable for homeowners) pays about 6700. That is around 7%
A married family making 70,000 with 2 kids and 20,000 of itemized deductions (reasonable for homeowners) pays about 2200. That is around 3%
A married family making 50,000 with 2 kids and no itemized deductions pays about 577. 1.1%
A married family making 50,000 with 3 kids and no itemized deductions gets a refund 1718.
A married family making 35,000 with 2 kids and no itemized deductions gets a refund of close to 5000 with no federal income tax withheld.
As implemented by the Grand kOch Party? I didn't just fall off the turnip truck.
Besides, I want billionaires to pay a top marginal rate of 70% or maybe more. You know- like they did back in the 50's when the middle class was thriving, the U.S. was undergoing an economic expansion of historic proportions, and the national debt was shrinking as a % of GDP.
The top earners in the 50's never paid anywhere near that % in taxes because, as anyone who didn't just fall off the turnip truck would know, the first 50% of millionaire's earnings in those days were exempt.
The income tax in un-American and straight out of the communist manifesto. Getting in an argument on who should pay what is ridiculous. We should be concerned with building wealth and savings for every American. We should be taxing through consumption taxes, tariffs, and capital gains/transactions. We have to limit and eventually abolish property taxes. Basically, we need to return to pre-1913 tax policies.
Also, I question just how billionaires become billionaires. In an age of crony-capitalism and fascism it seems to me these guys are being given kings ransoms to build new factories and bring new jobs to communities. Zero property taxes for 10-15 years, and sales tax exemptions. A small business guy can't get those perks.
Furthermore, Warren Buffet was complaining a couple of years ago about how he paid less by a percentage in taxes than his secretary. Well the answer to that is that what he paid for. He said he wants to raise his taxes. He wants to raise taxes on his competition, and pay less. Look at all these billionaires who want to build billion dollar stadiums, and have the taxpayer pay for it. Can spend $800 million for a team, but can't drop the same for a new facility.
By far the biggest problem with the OP's line of thinking is that the progressive wing of the Democrat party won't shut up about billionaires, then they turn around and tax the hell out of the hardest working people in your town.
As we saw with Obama's abortive attempt to tax 529 plans at the expense of the middle class, they are running out of riches to tax and they will be coming after YOU.
Unless, of course, you spend all your time complaining about the rich instead of working to improve your value to the rest of society, then you're just riding the gravy train.
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