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The top 10% pays 70% of all federal taxes.
originally posted by: tamusan
a reply to: CitizenZero
The top 10% pays 70% of all federal taxes. The bottom 50% pays little or no federal taxes. I really want the government to specifically tell us what is the everyone's fair share.
originally posted by: CitizenZero
originally posted by: tamusan
a reply to: CitizenZero
The top 10% pays 70% of all federal taxes. The bottom 50% pays little or no federal taxes. I really want the government to specifically tell us what is the everyone's fair share.
There is no "fair share". It's an imposter phrase. You'll be paying whatever it is the government tells you to.
It will always confuse me how much Trump ATS derides on the rich as leftist bent on world domination but whenever there’s a chance to hurt them where it count the most for them Trump ATS will be here to defend their pockets.
originally posted by: Bunch
It will always confuse me how much Trump ATS derides on the rich as leftist bent on world domination but whenever there’s a chance to hurt them where it count the most for them Trump ATS will be here to defend their pockets.
So confusing…
originally posted by: CitizenZero
originally posted by: Bunch
It will always confuse me how much Trump ATS derides on the rich as leftist bent on world domination but whenever there’s a chance to hurt them where it count the most for them Trump ATS will be here to defend their pockets.
So confusing…
It's simple common sense. Whenever you give the government the power to do something for you, you necessarily give them the power to do something to you. If you tax the rich you just end up taxing yourself.
originally posted by: interupt42
a reply to: tamusan
The top 10% pays 70% of all federal taxes.
Thats what it looks like on paper and what they are suppose to pay. However the real issue is not the top 10% its the .001% that skip on paying the fair share.
Do to loopholes, overseas accounts,investments, deductions, and hiring a legal team of experts to file their taxes they end up paying much less than the rest of us on an income to tax ratio. Like Warren buffet says, he pays less taxes than his secretary.
The middle to upper middle-class are the ones that always pick up the real burden.
its the reason why NEITHER party wants a FLAT tax with NO deductions. The tax bracket or ratio means nothing ,when you got ways to hide your money and loophole deductions to use by a dream team of accountants.
Do to loopholes, overseas accounts,investments, deductions, and hiring a legal team of experts to file their taxes they end up paying much less than the rest of us on an income to tax ratio.
originally posted by: ketsuko
If it was about paying our fair share, they wouldn't be restoring the SALT cap deductions. Those only benefit people with money.
a California a starter house without no bells or whistles can set you back $450K-$500K
originally posted by: tamusan
a reply to: interupt42
Do to loopholes, overseas accounts,investments, deductions, and hiring a legal team of experts to file their taxes they end up paying much less than the rest of us on an income to tax ratio.
I've used all of the methods that you mentioned in your post, plus a few you didn't mention, and have still paid a lot more than most for taxes over my lifetime. But those days are gone after this year. I can live for the rest of my life on my savings and I'm making the necessary adjustments to put my yearly income at the poverty level.