Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
The top 20% pay 84% of the taxes. 51% of people don't pay any FED taxes at all.
I'm in that group, and even though I pay a bungload of state taxes, sales taxes, utility taxes, and SS...etc. the top 20% are paying the lions share as it is. THEY (the wealthy) live portable lives. If they become over taxed, they move. That is as big a problem as the jobs being moved overseas.
People without money are the only ones stuck in their situation, and expecting handouts isn't the answer.
So, your solution is to not only kill the economy, but make everyone equally poor. God I love socialists.
Top 10% have 47.9% of the income. Pay 70.2% of taxes. Average tax rate of 19.2 %. Take their average rate to 27% and they could pay all the taxes.
Those tax rates are mildly progressive but not aggressively so.
If you think about it the discussion is not progressive or not. The issue is how progressive. The right wing proposes a rather radical change where we would cease to be progressive. In the spirit of going where the money is and protecting the socioeconomic bottom some level of progressive is clearly desirable. In fact most of the flat taxers have a cut off income...which is quite clearly a progressive tax.
If you think about it the discussion is not progressive or not. The issue is how progressive. The right wing proposes a rather radical change where we would cease to be progressive. In the spirit of going where the money is and protecting the socioeconomic bottom some level of progressive is clearly desirable. In fact most of the flat taxers have a cut off income...which is quite clearly a progressive tax.
Smart people understand that there isn't a finite amount of wealth. Wealth is created and wealth distribution does not create more wealth. Look at socialist Venezuela and compare it to capitalist Columbia. Capitalism is king and should be hip with the entrepreneural young tech crowd, socialism is the opposite.
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
27,606 posts, read 14,519,362 times
Reputation: 9169
Quote:
Originally Posted by ColoradoOnMyMind
Smart people understand that there isn't a finite amount of wealth. Wealth is created and wealth distribution does not create more wealth. Look at socialist Venezuela and compare it to capitalist Columbia. Capitalism is king and should be hip with the entrepreneural young tech crowd, socialism is the opposite.
First off, it's Colombia, not Columbia. And second off, Colombia's number two export is Cocaine 😒
Smart people understand that there isn't a finite amount of wealth. Wealth is created and wealth distribution does not create more wealth. Look at socialist Venezuela and compare it to capitalist Columbia. Capitalism is king and should be hip with the entrepreneural young tech crowd, socialism is the opposite.
Venezuela is a capitalist country with an authoritarian government. Over 76 percent of the workforce is in the PRIVATE sector. Private property still exists and businesses are run yet I am supposed to believe Venezuela is socialist?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.