Does this chart show that the top 50% pay all the taxes or does it show that the incomes of the bottom 50% went off the cliff into the financial abyss? Thats half the population! With not enough income to pay taxes? That's preposterous!
How can they eat?
Would making the tax cuts permanent solve this problem?
http://www.infoplease.com/ipa/A0923085.html
2007-04-14 19:25:29 · 23 answers · asked by Anonymous in Politics & Government ➔ Politics
You are so funny, my stomach hurts now, don't you know by now WHY ??????
2007-04-19 15:21:45 · answer #1 · answered by not fair 6 · 0⤊ 0⤋
Tax cuts are never useful for anyone but the well off. The graph is accurate. You could eliminate all taxes for the bottom 50% and it would hardly dent the tax dollars flowing into the government.
Think about it. All our taxes are a percentage. If you make $1000 and you're taxed at 20%, that's $200. If you make $1,000,000 and are taxed at 20%, thats $200,000.
Sounds like a big difference, but if you're making mega bucks you're really not going to miss the $200,000 all that much. But that $200 is groceries, or a heating bill, or new tires on your car, or even a car payment.
Now at the same time, if taxes are cut by 5% in both cases, the guy who makes a grand sees $50 bucks. The guy who makes a mil gets $50,000.
This is why the tax cuts by Bush mainly affected the well off. The less well off maybe got $100 back while the wealthy were getting multi-thousand dollar checks.
You could eliminate the taxes on the lowest 50% and raise taxes by a fraction in each of the other brackets and STILL come out ahead.
We need a better system.
~X~
2007-04-14 19:39:13 · answer #2 · answered by X 4 · 1⤊ 1⤋
The chart does not give enough information. Each percentage allocated do not show the $ amount of income. It is true that the higher your income is the higher you pay in taxes depending on which tax bracket you fall in. However you do have to consider the population for each tax bracket. I can say that there are more people in the middle class and in lower income than there are in higher income.
I do want to add that people that are smart enough to get rich or that are driven to be rich would not have done it without the consumers which is everyone. The middle class and the lower income are the buying power because there are more of us. The rich supply and the consumers demand.
2007-04-14 19:47:02 · answer #3 · answered by hongkongfooey 2 · 1⤊ 0⤋
Tax cuts are less than no circumstances sensible for each person notwithstanding the acceptable off. The graph is precise. you ought to favor to eliminate all taxes for the bottom 50% and it does infrequently dent the tax funds flowing into the authorities. imagine of about it. All our taxes are a share. if you're making $one thousand and also you're taxed at 20%, it really is $2 hundred. if you're making $a million,000,000 and are taxed at 20%, thats $2 hundred,000. sounds like a large distinction, yet once you're making mega funds you're truly unlikely to bypass over the $2 hundred,000 all that plenty. yet that $2 hundred is groceries, or a heating bill, or new tires on your vehicle, or in accordance to danger a vehicle value. Now on an similar time, if taxes are decrease by 5% interior both situations, the guy who makes a grand sees $50 funds. the guy who makes a mil receives $50,000. by technique of creating use of truth of this the tax cuts by Bush in certain affected the acceptable off. the a lot less acceptable off in accordance to danger were given $100 decrease back at the same time as the rich were getting multi-thousand dollar checks. you ought to favor to eliminate the taxes on the bottom 50% and carry taxes by a fragment in each and each and each and each of the diverse brackets and although come out ahead. we want a significantly better functional equipment. ~X~
2016-12-04 01:32:57 · answer #4 · answered by ? 4 · 0⤊ 0⤋
Me and my wife together make around 95, a year, and I bet the man that makes 400 mil a year thinks and puts his pants on the same way that you and I do. So how would you like to pay twice as much tax as all the others just because you were smart enough to get ahead. So much for all men are equal.
What this country needs to do is stop the free ride we have to many smart people that know how to work the system so they don't have to work and we have to support them.
I tell you what take 500 dollars out of your wallet and go down to the street Conner and give it to the people standing their looking for a hand out, then go back the next day and I bet you will see the same people standing their still looking for another hand out.It's called human nature some push to achieve and other sit back and look for the free ride, what will you do.
2007-04-14 19:41:49 · answer #5 · answered by ULTRA150 5 · 0⤊ 1⤋
They complain because they DO pay taxes, while half the country pays NO taxes and in some (a lot) of cases get tax refunds after having paid no taxes to begin with. Keep abusing the folks that actually make money, and before long they will find a way out of it themselves. Then who will pick up the slack?
Socialism is what you are advocating, no matter how you care to couch it, and it has NEVER worked.
2007-04-14 19:34:30 · answer #6 · answered by Anonymous · 0⤊ 2⤋
The top money earners do NOT pay much in taxes...
They pay a high percentage on their reported annual salaries and capital gains.
Their companies pay the lions share of their taxes FOR them. They also give them TAX FREE and TAX DEFERRED compensation in the millions. They give them TAX FREE expense accounts. They give them escrow accounts to cover other expenditures.
Working class Repubs have been duped into believing that the reported taxes paid by the ultra rich actually came out of the ultra rich person's pockets.
I have even been paid a lot of TAX FREE perdiem as a contractor in the past. When a company relocates you, the costs of the move is considered income. So, the company gives you an escrow account to cover the additional taxes from the added income of the move.
2007-04-14 19:30:25 · answer #7 · answered by Chi Guy 5 · 1⤊ 3⤋
Because they pay way more taxes than anybody else.
The rich are people who make over 750,000 dollars a year puts you in the highest tax income bracket, and you pay over a 1/3 of your income directly over to the government.
2007-04-14 19:28:12 · answer #8 · answered by Mixed Asian 5 · 1⤊ 1⤋
I'll tell you why I complain about paying taxes, because its MY MONEY and I have no say as to how MY MONEY is spent. What's even worse is working all year and the gov't taking 20% from every paycheck, just in taxes, not counting Soc. Sec. or Medicare, and then at the end of the year I have to pay them MORE MONEY!!!
2007-04-14 19:30:13 · answer #9 · answered by Anonymous · 0⤊ 1⤋
the fact that this administration reduced taxes for everyone and eliminated them for so many is not an indication that the bottom 50% have not benefited from the strongest economy and the lowest unemployment in decades.
the opposite is true. one follows the other.
2007-04-15 05:04:51 · answer #10 · answered by karl k 6 · 0⤊ 0⤋
the rich want the same thing the poor wants more!!! even if there is no purpose to it at all, after a certain point more money is useless but they still want more that's why, besides they need something to complain about , taxes are about the only problem they have , awwwww i feel so bad for them
2007-04-14 19:29:50 · answer #11 · answered by Anonymous · 2⤊ 0⤋