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Because SS benefits are capped, and they're ALREADY losing money on the deal. You might as well be saying you advocate MASSIVE redistribution.
"MASSIVE redistribution," upwards, has been in effect since Reagan took office. I'm talking about democracy, community, fairness, and sovereignty--concepts you are clearly not interested in. We're done here.
You seem to have a problem with helping out your fellow Americans. Those same Americans who are just supposed to sit quietly by while the rich get one tax cut after another and don't have to pay SS tax on every dollar they make.
I am well aware of the IRS data. Can you tell me off the top of your head the effective federal income tax rate the middle class (top 25-50%) pays, and that which the top 0.1% pays?
Cite that info correctly, and then we'll talk about who really gets the massive tax breaks.
I am well aware of the IRS data. Can you tell me off the top of your head the effective federal income tax rate the middle class (top 25-50%) pays, and that which the top 0.1% pays?
Cite that info correctly, and then we'll talk about who really gets the massive tax breaks.
OMG, please don't even. In your world, it's the poor and the middle class who get "massive tax breaks." Sure, okay, you go with that. Yes, I could quote some "correct" figures--most everybody can--but it wouldn't make any difference. Can't even begin to understand your head space, friend.
I am well aware of the IRS data. Can you tell me off the top of your head the effective federal income tax rate the middle class (top 25-50%) pays, and that which the top 0.1% pays?
Cite that info correctly, and then we'll talk about who really gets the massive tax breaks.
Got a hunch though the top 0.1% can afford to pay their tax bill a whooole lot easier than I can afford to pay mine.
OMG, please don't even. In your world, it's the poor and the middle class who get "massive tax breaks." Sure, okay, you go with that. Yes, I could quote some "correct" figures--most everybody can--but it wouldn't make any difference. Can't even begin to understand your head space, friend.
Educate yourself.
The middle class (top 25-50%) pays an average effective federal income tax rate of 7.31%
The top 0.1% pays an average effective federal income tax rate of 27.91%
Let's put that in perspective of income and federal income tax paid.
A middle class income of $60,000 would pay a federal income tax of $4,386
A top 0.1% income of $3 million would pay a federal income tax of $837,300
So the $3 million earner earns 50 times more income than the $60,000 earner, but pays 190.9 times more in federal income tax.
So spare me your "not paying their fair share" and "huge tax breaks" BS. NOTHING could be further from the truth. Anyone believing the BS manipulatively deceptive left-wing propaganda talking points instead of doing the math for oneself to see if it's true or not is just intellectually lazy, and makes one a useful idiot pawn in fostering class warfare.
Social Security doesn't need fixing. If there's a gap, just take the limit off which is currently $118K. Republicans are just trying to use these four years to destroy Social Security and Medicare while giving themselves massive tax cuts. Everyone knew this was coming. I'm not a senior so if seniors want to fight for this, they have to fight vocally. Otherwise, they lose and frankly they deserve to lose since they voted for Trump.
I'm okay with removing the caps but I don't feel it solves anything. So, I would pay more into the system since there's no cap and I would take more out of the system since there is no cap. At the end, it hasn't solved anything.
The middle class (top 25-50%) pays an average effective federal income tax rate of 7.31%
The top 0.1% pays an average effective federal income tax rate of 27.91%
Let's put that in perspective of income and federal income tax paid.
A middle class income of $60,000 would pay a federal income tax of $4,386
A top 0.1% income of $3 million would pay a federal income tax of $837,300
So the $3 million earner earns 50 times more income than the $60,000 earner, but pays 190.9 times more in federal income tax.
So spare me your "not paying their fair share" and "huge tax breaks" BS. NOTHING could be further from the truth. Anyone believing the BS manipulatively deceptive left-wing propaganda talking points instead of doing the math for oneself to see if it's true or not is just intellectually lazy, and makes one a useful idiot pawn in fostering class warfare.
Total horsesh*t. People making $60,000/year pay a whole lot more in federal income tax than $4,386, dude. And, due to endless loopholes for the rich--which your source doesn't figure into their numbers--someone making $3 million/year doesn't pay [i]anywhere near[i] $837,300/year in federal income tax. Don't make me laugh. And spare me the predictable "left-wing propaganda talking points" crapola. The rich have instituted the class warfare, nobody else.
Total horsesh*t. People making $60,000/year pay a whole lot more in federal income tax than $4,386, dude. And, due to endless loopholes for the rich--which your source doesn't figure into their numbers--someone making $3 million/year doesn't pay [i]anywhere near[i] $837,300/year in federal income tax. Don't make me laugh. And spare me the predictable "left-wing propaganda talking points" crapola. The rich have instituted the class warfare, nobody else.
Simplify the tax code. Make it a flat 15% on earned income, 0% on capital gains, and 15% on corporate taxes. Eliminate all credits and deductions. Then no one can take advantage of any loopholes.
Total horsesh*t. People making $60,000/year pay a whole lot more in federal income tax than $4,386, dude.
Not according to the IRS. FACTS are your friend, dude.
Quote:
And, due to endless loopholes for the rich--which your source doesn't figure into their numbers--someone making $3 million/year doesn't pay anywhere near $837,300/year in federal income tax.
Again, FACTS are your friend. All numbers and percentages in my example DIRECTLY use the IRS's actual reported data on income and tax rates paid. Think you can disprove the IRS's data? Go ahead. We'll wait.......
Simplify the tax code. Make it a flat 15% on earned income, 0% on capital gains, and 15% on corporate taxes. Eliminate all credits and deductions. Then no one can take advantage of any loopholes.
A flat tax is a regressive tax. !5% flat tax means that an elementary school teacher takes a much bigger hit to quality of life than a Donald Trump would take in paying 15%. And capital gains should absolutely be taxed.
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