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I’m a fiscal conservative and not a republican a real fiscal conservative.
I will also concede that the current tax brackets makes 0 sense that a dentist making 500k faces the same marginal tax bracket as an NBA player making $30M / year. There should be at least 3 more tax brackets if not 5 where there is an increase os 2-3% per bracket. That $500k would be 35% then $1M would be 38% then $2.5M would be 40% $5M 44% $10 47% and $20M 50%.
There are fewer than 1% of the population earning more than $500,000 - which itself is already wealthy. Instead, let's focus on the 50% who don't pay a dime. EVERYONE should have some skin in the game.
Seems like people, liberals primarily, on focusing on the top 0.1% and ignoring the fact that half the population pays nothing.
There are fewer than 1% of the population earning more than $500,000 - which itself is already wealthy. Instead, let's focus on the 50% who don't pay a dime. EVERYONE should have some skin in the game.
Seems like people, liberals primarily, on focusing on the top 0.1% and ignoring the fact that half the population pays nothing.
Most of the people who pay neither federal income tax nor payroll taxes are low-income people who are elderly, unable to work due to a serious disability, or students, most of whom subsequently become taxpayers.
The system needs to be revamped, but in my opinion, nobody should have to pay 50% in taxes. Instead of that, reduce or eliminate some of the loopholes, such as not taking a salary but being compensated in stocks instead.
Most of the people who pay neither federal income tax nor payroll taxes are low-income people who are elderly, unable to work due to a serious disability, or students, most of whom subsequently become taxpayers.
Payroll taxes is different. This thread is about the federal income tax, and fully half of all American adults don't pay anything. That needs to change.
Payroll taxes is different. This thread is about the federal income tax, and fully half of all American adults don't pay anything. That needs to change.
Should people making minimum wage pay income tax? I don't think so.
Should people making minimum wage pay income tax? I don't think so.
People making high income should... but the Tax Cuts and Jobs Act Trump pushed for made it so we barely pay anything in taxes compared to what we used to. For someone with my income who used to pay six figures in taxes, paying nearly zero just doesn't make sense for a sustainable society.
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