How much is too much tax when it comes to taxing the rich?

Question

I asked a similar question before and not a single person answered my question. So, I'm asking again:

What is the maximum percentage that the government should be able to take when it comes to the highest income earners?

Please don't give me theory, give me a number.

It seems that the proposed solution to every problem is "increase taxes that affect only the rich".

I don't think it's fair that 90% of the country can vote to increase the taxes of 10% of the country, but that's not the discussion here.

Seriously....don't answer this question unless you give a percentage along with it. After that, add all the thoughts you want, but give me a number.

Answer 1

I agree with the flat taxers. 17-18% Tax the waelthy and you decrease the incentive to get rich (legally), tax them too much and you motivate tham to avoid taxes (which is why we don't have a flat tax--they would have to pay more with a loophole-free flat tax). Protect the very poor from any taxes at all if you mus, but tax us all the same.

Answer 2

The best kind of tax in my opinion is what I was told is called a flat tax. It's one percentage that everyone pays, so the amount paid is based on your income. For example, if the tax was 20%, then someone who makes $10,000 a year would pay $2,000, whereas someone who makes $1,000,000 would pay $200,000. The numbers might have to have a minimum income required for tax, progressive taxes if income is in excess of a certain amount, etc, but the basic principle works.

The thing that most people don't understand is right now in America the higher incomes only seemingly pay less than their fair share, but in reality higher incomes pay a significant amount. Plus, sales tax and other "sin taxes" take their toll, and those mostly apply to people who buy more and leave inheiritances, which almost singles out the higher incomes. I'm not saying give them a break or anything, I'm just saying it's pretty fair the way it is right now.

Answer 3

I believe in a flat tax, therefore the maximum amount that the rich should be taxed is the same that the poor should be taxed, as a percentage.

Also, I believe that we should abolish the capital gains tax, and tax income from the sale of stock at the same rate as the income tax. That would lower everyone's tax rate, as the capital gains tax is now just 15%. Some will argue that raising the capital gains tax would stifle investment, but this is not true. Investors will still want to maximize their money by by investment regardless the rate of taxation.

Also, is it fair that someone inherits millions of dollars worth of stock and just sells off enough each year to live on, while having to pay only 15% on that income. Income is income.

As far as a number, I imagine that everyone's income tax could thereby be reduced to about 15%.

Answer 4

I'll give you a percantage, 18%. 18% flat tax, only it isn't just affected toward the rich, it affects each and every individual the same. Of course the 18% tax being paid by a low incomed family to buy new jackets for the winter, may not be exactly the same as the 18% that the wealthy individaul/family is paying on that new boat, but there in lies the equality of the entire flat tax plan. We can only spend what we can afford(at least those with restraint, not me), but I believe if each individual carried the weight we could carry, then not only would the model of economic resiliance be all the more stronger for it, but once those who would make the argument, "WHY SHOULD I PAY MORE, BECAUSE I MAKE MORE" got over their crying like the little babies that they are, they might be able to step back a second, and see that having a daughter who can walk to her car at night, safer, because of a lower crime rate, or an ederly loved one who could get proper end of life care, they deserve, or just the general improvement to society overall, that each individual, carrying the weight that they can, will not only make them feel equal(which when it comes down to not starving, needing to feed, or just scratch along an existance), isn;t the root of all crime related back to people feeling inferior, jealous, and generally low about their place on the social totem pole.

Give everybody a feeling of equality, a purpose, a JOB, use financial infrastructure to build strong economic bases, re-invest into social programs, and we all win, we all carry our own weight, that we can, and as the lower class becomes middle class, and middle class becomes upper class, we all continue to carry what weight we can, and this policy is good for eveyone.

Answer 5

If you believe we should continue to have a progressive tax system (meaning that rich pay a higher percentage; i.e. NOT a flat tax), then I would say 34%. Why that number? Because if a 17% flat tax would do the job, if you're just asking about "fairness," then I'd say that a rich person shouldn't have to pay more than twice the "average" share. And that would leave plenty of room for 0% tax on the poor.

Answer 6

the answer should be based on circumstances but the highest wage earners should be capped,,
did you know the highest wage earners and big buisness men pay less than the average worker due to all their scams and fiddles

no problem with big earners my friend but 33%after a salry of 2 thousand a month would be fair in my books.
if the loop holes were shut we would not have a problem,,
how do you think the small corner shops make profit,, its because they draw money as share profits and not salary therfore allowing them to pay almost no tax at all

the govt wont do a thing about it as they use the same scams themselves

the rich get richer and the poor get poorer

lol

Answer 7

greater than 15% is too much. High tax rates especially for the rich, gives thems more reason to evade taxes, and rich people have more ways to evade taxes than other people.
Taxing the rich too much, will also make them underperform, or move out of the country. I am middle wage earner, and I am being taxed at 12% already. 12% is a huge chunk off my income, what moore if i earn $500,000 a month.

Answer 8

I think an income tax of 50% with a flat tax of 10% (to make up for deductions). This should only go for the upper .1% of wage earners

Answer 9

I believe that no more than 50% of anyone's income should be taxed. This just doesn't mean Federal limits, this includes FICA, Medicare, state, local, sales tax, property tax, and all of the other hidden taxes mandated by the government including taxes such as on phone, electricity, etc. This should be across the board and we need to enforce our government to live within the means that we give them and not what they take from us. Remember that we fought our first war over taxes.

Answer 10

As high as everyone else, whatever that is. It's rather misleading to ask for a number without more - what do you expect government to do? Personally, I believe government must be reduced, so I would say taxing no more than say 10% is desirable, because the level of government I would advocate would probably spend that or less.