Do the wealthy pay lower taxes than the middle class?

the impact of taxes per the individual is a matter of the effect of a percentage of one's income that they (taxes) represent
on an individual basis and what remains after the deduction(s). ergo, 15% of a labourer's income will hit him or her way harder than a 15% hit on the income of a million/billionaire. an inherently socially imbalanced yet mathematically exact differential.

a reply to: RoScoLaz4

Exactly.

What makes it worse despite the percentage hitting the middle-class harder is that the middle class is even paying a higher income to tax ratio then super rich class.

Has it dawned on people who claim there’s a war on the rich that the rich can afford to pay more?


It not a question of any war on the rich its just a question of who is able to pay more...it's called fairness


War on the rich show me some causality of rich people being warred on?


What they can’t buy 3 yachts and can only have 2


Can’t have a estate worth 50 million but only 30 million


I can show you the causalities of what poor people and the Middle and lower middle class have endured

a reply to: interupt42

I imagine because the super rich 1%ers and there banking cartel partners in crime are responsible for the current system. And from there perspective all is working to plan.

a reply to: Willtell

Has it dawned on people who claim there’s a war on the rich that the rich can afford to pay more?

Despite if they can pay more isn't even a matter of debate.

Instead of jealousy or revenge people should be fighting for equality.

If I pay 20% of my income towards taxes so should Bill Gates. Flat tax makes it fair for everyone.

I don't want him to pay 50% of his income because he makes more all I want him to pay and expect him to pay is 20% just like me.

He just needs to pay 20% of his $11.5 billion that he made this year and he can have my 20% of what I made this year.

Bill Gates: He earned $11.5 billion this year
www.businessinsider.com...

a reply to: interupt42

It comes down to the specific type of wealth.

A farmer for example who wealth is based off fluctuations of his real estate holdings. IE farmland. Then figuring in the inflation of the dollar that effects his loans for equipment, and so on.

Versus some evil 'oligarch' who has diversified investments abroad.

Not so simple or cut, and dry as some people think it is.

a reply to: andy06shake

Exactly, can you imagine if the super rich had to pay the same tax to income ratio that the middle class pays.

I will gladly pay 20% of my income to taxes but do you think they want to pay the same 20% based on their income?

The problem with those charts is they typically don't count exemptions and they don't concentrate on the income to tax ratio. So sure they paid more but in reality that 100K they paid in taxes is equivalent to us paying 10 bucks in taxes on a 200K income.

Warren Buffett: He made $12.7 billion this year or ~$37 million per day; ~$1.54 million per hour; or ~$25,694 per minute.

Bill Gates: He earned $11.5 billion this year which works out to be ~$33.3 million per day; $1.38 million per hour; or ~$23,148 per minute.

Sheldon Adelson: The casino mogul earned $11.4 billion this year which means he made ~$33 million per day; ~$1.38 million per hour; or $22,946 per minute.
Jeff Bezos: He made $11.3 billion this year or ~$32.7 million per day; $1.36 million per hour; or ~$22,745 per minute.

Mark Zuckerberg: The Facebook founder made $10.5 billion this year or ~$30.4 million per day; ~$1.27 million per hour; or ~$21,135 per minute.

Masayoshi Son: He made $10.3 billion this year or ~$29.86 billion per day; ~$1.24 million per hour; or $20,732 per minute.

Sergey Brin: He made $9.3 billion this year which works out to be ~$26.9 million per day, $1.12 million per hour; or $18,719 per minute.

Larry Page: He made $9.3 billion this year which works out to be ~$26.9 million per day, $1.12 million per hour; or $18,719 per minute.

Lu Chee Woo: He brought in $8.3 billion this year or ~$24 million per day; ~$1 million per hour; or ~$16,706 per minute.

Carl Icahn: The billionaire investor made $7.2 billion this year, which works out to be ~$20.87 million/day; ~$869,565/hour; or ~$14,492/minute.

a reply to: neo96

Not so simple or cut, and dry as some people think it is.

Agreed, but alot of things can be worked out. Also it should be based on income not assets.

My problem is that these charts make it sound like the super rich are paying ridiculous amounts compared to everyone else. When in reality yes they are paying ridiculous amounts in taxes but they are also making extra ridiculous amount in income and the middle-class is actually paying a higher income to tax ratio.

a reply to: interupt42

Yes I support a flat tax if Income Tax is a given. I don not support the Income Tax to start with, but I really don't like the inequality of the Progressive Income Tax.

a reply to: andy06shake
You are correct and I do not believe in any of the wars we have been involved in/ started for the last century damn near. Unfortunately, this is about Federal Government Revenue. There is a lot of inequality in the Tax Code and I hear a lot of people saying the rich don't pay their fair share. I hear about crazy tax deductions for the wealthy, but the bottom 50% of American workers only pay less than 3%. They get to deduct enough to offset higher state and local taxes.

a reply to: Edumakated

most you can write off is $3k

That is a good point there. Capital Gains take risk. It is an investment. If you lose big, you are left holding the bag. If you win big, Government will surely take their cut.
But still, 50% pays +97% of the Federal Government Income Tax Revenue. That is not fair, if you are the wealthier 50%.

a reply to: radarloveguy

One good idea is to drop income tax , and just tax ALL
bank transactions

That is an interesting idea but I don't see it happening. Banks and Government wants us to be a cashless society. I see more people using cash to avoid the penalty of using a bank card. Government would love to track all transactions to to tax us, but they would have to do away with cash. I do not want that personally.

a reply to: neo96

Thank you for contributing to this thread. I appreciate your input.
The real losers in all of this are the business owners. They pay majority of the taxes in this country, and get lambasted by the bottom 50% for not paying higher wages.

The Top 50 Percent of All Taxpayers Paid 97 Percent of All Income Taxes; the Top 5 Percent Paid 57 Percent of All Income Taxes; and the Top 1 Percent Paid 35 Percent of All Income Taxes in 2011
Table 1 breaks down the latest IRS data on number of returns, adjusted gross income, income taxes paid, and average tax rate by income group. In 2011, the bottom 50 percent of taxpayers (those with Adjusted Gross Incomes (AGI) below $34,823) accounted for 11.55 percent of total AGI. This group of taxpayers paid approximately $30 billion in taxes, or 2.89 percent of all income taxes in 2011. In contrast, the top 50 percent of taxpayers (those with AGIs above $34,823) accounted for 88.5 percent of total AGI. The top 50 percent of taxpayers paid $1.01 trillion in income taxes, or 97.1 percent of all income taxes in 2011.
In 2011, the top 10 percent of taxpayers (with AGIs above $120,000) accounted for 45.4 percent of all AGI and 68.3 percent of all income taxes paid. Taxpayers in the top 5 percent accounted for 33.9 percent of all AGI and 56.5 percent of all income taxes paid. The top 1 percent of all taxpayers accounted for 18.7 percent of all AGI and 35.1 percent of all income taxes paid.

It seems some may not know what AGI is. It is your gross income after your federal deductions. The bottom 50% paid 2.89% of all income taxes while accounting for 11.55% AGI.
The top 50% paid 97.1% of income tax while only accounting for 88.5% of total AGI.
The 1%ers paid 35.1% of all income taxes while only accounting for 18.7% of AGI.
What would make it fair?
How much more can you squeeze, before you realize they aren't saints and might opt out of the mob inspired thievery? Would you gladly pay the Government all of your hard earned money, because a miss-informed mob demanded it? Or would you retire early, only to be lambasted more?

The poor get more subsidized services than the wealthy. The rate might be higher but the actual amount of money they pay is a mere fraction of a percent of the actual amount of money a wealthy person pays.