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CAP | How is it fair to tax the wealthy a higher percentage than you would tax the poor? Enlighten me, please.? |
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Huh?
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It has to do with disposable income. If you think of a line at which people can afford the basics, housing costs, food, child care, etc. and then determine how much income is left, a flat tax rate on income would mean the poor are paying a much higher % of their disposable income then a wealthy person.
Lets assume for an average family it costs $25,000 to survive and you have two families. The first has taxable income of 50K and the other has taxable income of 250K and each are subject to a tax rate of 25%.
The family with taxable income of 50K will pay (50,000*.25) or 12.5k If you take their taxable income of 50k less the basic living costs of 25k their tax rate on their disposable income is 50%
The family with taxable income of 250K will pay (250,000*.25) or 62.5K. If you make the same calculation, taxable income less the basic living cost of 25K their tax rate on their disposable income is only 28%.
If you start with the same tax rate for everyone and calculate disposable income as the taxable income less a flat rate that is necessary to survive in this economy you can see that the wealthy are taxed at a much lower rate against disposable income. |
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leVel8 the Autobot
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It's not fair because they're being taxed a certain percentage on all their income, we are all "WORKING" it's not like the rich are working less or have necessarily worked less. I get sick when someone says "but they can live off half their salary it's only fair" it's all hard earned money, the difference is that the federal and local entities cut off another couple sections to the rich folk's dollar, either way they take a big chunk of our time when you really put it in perspective, because were all taking time to work and "pay our selfs" and then the local and federal entities. So we work 10 hours a day, 3.5 hours go to the IRS (in the U.S., assuming you make over $349,700 in New Mexico) and then another 0.5 hours go to the local taxing entity, then the social security and medicare tax, another .3 hours a day added together 4.3 hours of work gone, sacrificed to the taxing entities, and 5.7 hours is what rich folk work for themselves. I dont know about y'all but that does not sound nice in any language. |
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Skywalker
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Some good points already made here. The questions I would add on to this are:
- how 'progressive' of a tax ramp up to the rich is 'fair'?
- how much money do the federal (and state and local) governments need, vs. what kind of services society expects to receive in return?
- how effective is the government with the tax dollars they have, whether a lot or a little?
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wartz
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From those to whom much is given, much is expected. |
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Worldly25
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Its not. Imagine going into the food market to buy milk and there were different prices for food stamp purchase versus cash purchase. It is just another way for income distribution. Otherwise called socialism |
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Wayne Z
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Look for the word "Fair" in the tax code. Here is a hint: You won't find it.
As Ben Stein (a conservative) recently wrote to John McCain, you tax the rich because that is where the money is. The people at the lower end of the income scale just don't have any money. Would you have them taxed in to the streets? Your taxes would then go up again to take care of the poor that you just made homeless.
The "Fairest" form of tax is a progressive income tax which is what we have now. It may not be perfect, but it is the best available.
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Bob F
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That is easy.
Somebody making $250,000 a year CAN afford to live comfortably on half of that if you take away half.
Somebody making $8000 a year can NOT afford to live comfortably on half of that if you take away half. So you take away much less than half. In this case none. |
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mandktrucking
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Its not. Top 2% of the poeople make over 250,000 a year. Out of that top 2% they pay 33% of all Taxes. Based on IRS numbers for 2007. Its not fair but yet people are always clinging to this idea that we're over taxed. The ones that are saying this are the ones that get 100% plus earn income credit back each year.
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wmayers99
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Because, interestingly enough, the wealthy use far more of our limited resources than the poor - so I say tax the rich for all they're worth and screw 'em all! |
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