Top 20% of Americans Will Pay 87% of Income Tax

The major flaw in your plan is that every time federal tax revenue increased, spending increased even more. Legalize drugs and tax the now legal drug industry, and the pols will take that new revenue and spend it all and more. In 3 years the USA will be right back to where it started.

 

And, it also substantially burdens the poor since they make less income and have much more utility for it than somebody making $1,000,000,000 a year.

 

I would say it is the fact those making just 52% of the income are paying 87% of the taxes. Wouldn't their "fair share" be 52% of the taxes?

 

Only if you think that this rudimentary analysis of egalitarianism makes sense.

 

The linked data says "income", unless you have access to every persons tax return you will have to go with whats in the posts.

 

In my view, no. I think it is fair to have a progressive tax system, even though that disadvantages me personally. Otherwise you are really punishing those who need the money most.

I think it would not be unfair to charge no tax at all until people reach a threshold where they can survive. Not in comfort or in luxury, but pay for a place to live and to eat. After that there should be a couple or a few levels of increasing rates of tax. I have no problem at all with that. If that means the top 20% pay 87% of the tax, so be it. And I am a fiscal conservative.

You have completely ignored my question. Do you think it is fair that the top 20% earn 52% of income? If you are looking for what is "fair", that would be the place to start, wouldn't it?

 

The tax burden. When a small slice of the population pays essentially all of the tax, then a type of tyranny of the majority occurs. Those paying the taxes are too few in numbers to win at the ballot box and become slaves to the majority, a majority who can be bought with "free stuff" from the govt.

Its no surprise that those with money make more than those without money. That should be obvious.

The difference in earnings is not so troubling, even though its hyped out of all reason. If person A makes a good living and is paid for his work value, and person B makes 20 times what person A makes, the discrepancy is irrelevant.

 

they possess 99% of America's wealth

 

really sad that Republicans have BRAINWASHED poor folks into thinking that rich folks pay too much taxes

 

And?

 

BS argument. The poor donate more as a percentage of their income than the wealthy (from Arthur Brooks book, Who Really Cares), if they were so burdened then that would not be the case.

What you are arguing for is simple wealth redistribution, social engineering by politicians and "do gooders" is what has put the USA in its financial straightjacket.

 

Go learn the difference between wealth and income and which one we tax on the federal level.

 

You do realize that the data is coming from the IRS which means the data is from tax returns received by the IRS after ALL deductions and credits????

 

LOL, they will never pay that. Why do you think they have accountants that use all the loop holes to save them money.

 

and the more wealth you have, the more income you have, the higher your taxes should be

the father of Capitalism, Adam Smith, totally supported progressive income tax rates.

higher rates for higher income, lowr rates for lower income

 

>50% is a "small slice" of the population?

Okay, and what if they're not making a good living and have to work multiple jobs?

 

Exactly!

 

Then lower the rate accordingly what specific break are you talking about?

 

OR

1) The poor care about the poor more, which isn't surprising.
2) The rich make substantially more and are less inclined to give as big of a % of their income as the poor back into society, which we already know, and is the basis of the argumentation.

All progressive taxation is "wealth redistribution", that is literally its purpose. I'm fine with shying away from arguing that it isn't wealth redistribution.

 

...Okay.

 

More t han 85% of Hispanics are counted as whites.

 

prove it

 

Don't have to, Ronstar. Look up the census records.

 

So? WTF does that have to do with this conversation?

 

The income tax is only one tax. When you add in state sales taxes, excise taxes, pay roll taxes etc the reality is very different.

So why do some focus on only one of the many taxes people pay?