2006-08-02 07:48:50 · 11 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Not only do the wealthy pay more, they loose basic deductions that lower income people get. So it's not just a higher percent.
2006-08-07 17:08:35 · answer #1 · answered by miki 2 · 0⤊ 2⤋
NO! At least not as percentage. I think everyone should pay the same. A flat tax or the fair tax. Some many people don't pay taxes at all- Illegals and the "poor". Many "poor" people stay under a certain amt of money and don't work b/c they get so much from the government. They get food stamps and healthcare but they have cell phones for 80/month and big screen tvs. But that is a rant..... The actual question gets to the very heart of capitalism. The majority of the tax money, even in a flat tax or fair tax situation will come from the wealthy. What is to inspire people to succeed if they have to just pay more taxes? Why would some try hard to achieve more if they go from a 15% tax to a 50% like it was in the 80s. Just b/c someone works harder and achieves more does not mean a higher percent of their money should go the government. That is not what this country was founded on.
2006-08-02 15:11:28 · answer #2 · answered by jenchills 2 · 0⤊ 0⤋
Well since the Bush cuts of 2001; our National Debt has doubled from 4 TRILLION to over 8 TRILLION dollars. SInce the Interest on the Debt is paid out of the National annual budget; ever increasing interest payments will result in subtractions of budget items from elsewhere, like Defense, Homeland Security, Food & Drug Administration, Environmental Protection, Health Care and Education. Since over 50% of the Tax Cut went to the Top 1& of Income tax payers (wealthiest americans); then, those with the most are reaping ever greater benefits while those of us in the middle are left holding the sack. No wonder, the Bushies want to destroy Social Security - they already got theirs. So the question becomes, do you want to live in a society where it's survival of the fittest, dog eat dog or do you want to live in a society where we are all in this together. The decrease in tax rates on the Rich was small in 2001; but the impact was huge. National Debt - now over 8 TRILLION dollars. Thanks Republicans - what happened to fiscal conservatism?
2006-08-02 14:59:05 · answer #3 · answered by goldmedaldiver 2 · 0⤊ 0⤋
They already do...
The top 10% of wage earners pay 65% of the taxes
The top 50% of wage earners pay 96% of the taxes
Since the median household income is about $40-45k, that means most people earning under that are paying essentially no taxes (or maybe a couple net percent).
2006-08-06 11:58:06 · answer #4 · answered by Thundercat 7 · 0⤊ 0⤋
I'll paraphrase Warren Buffett who recently said something to the effect of "I benefited disproportionately from a capitalist society which allowed me in one generation to accumulate great wealth, therefore, I should be willing to give back more to society." I think the same argument holds true for wealthy Americans.
2006-08-02 17:51:53 · answer #5 · answered by Anonymous · 0⤊ 0⤋
28% on income between $123,700 and $188,450; plus $24,040.00
I pay too friggin much! Nuff said. Throw in some nice California tax and this single guy doesn't make **** and that is a fact!
2006-08-02 23:47:55 · answer #6 · answered by aubrey 1 · 0⤊ 0⤋
You tell me if this looks "fair" to you. These are 2006 Tax Rates.
Married Filing Jointly or Qualifying Widow(er) Filing Status
(Tax Rate Schedule Y-1)
10% on income between $0 and $15,100
15% on income between $15,100 and $61,300; plus $1,510.00
25% on income between $61,300 and $123,700; plus $8,440.00
28% on income between $123,700 and $188,450; plus $24,040.00
33% on income between $188,450 and $336,550; plus $42,170.00
35% on income over $336,550; plus $91,043.00
Hmmmm. Doesn't it seem like you get punished by the IRS for becoming more successful? But isn't that we are all trying to achieve, a better life?
2006-08-02 17:08:52 · answer #7 · answered by SuccessBroker 2 · 0⤊ 0⤋
And yet: if we all pay about 10% of our income.....
The person who makes $100,000 gets to pay $10,000 and keep $90,000, and the person who makes $50,000 pays $5,000 and gets to keep $45,000. But we're all paying the same percentage of taxes. If you make more, you pay more....if you make more, you keep more, too. However, let's be compassionate. If you're only making poverty level income, then you shouldn't be taxed either.
2006-08-02 18:17:19 · answer #8 · answered by amkornele 3 · 0⤊ 0⤋
I thought they did. The wealthy Brits pay more!
2006-08-02 14:52:40 · answer #9 · answered by A G 4 · 0⤊ 0⤋
they already do. The poor pay 0 so they make up for them.
2006-08-02 15:54:51 · answer #10 · answered by golferwhoworks 7 · 0⤊ 0⤋