America forgets the Middle Class?

Question

I just find it funny how our country, America, is run by the rich/wealthy and how most of the tax laws favor the poor or the rich. If you are rich and pay all of your federal income tax (the total amount; cap. Forgot what the personal cap is, sorry), you no longer are required to pay Federal Income Tax. If you are poor, there are loopholes where you can pay less tax. Also, if you are poor, you also receive help from the government and other special fundings! However, if you are in the Middle Class, the tax laws require you to pay very high Federal Income Tax and there are absolutely no loopholes, in which one can reduce the amount paid back to the government. Plus, the government is always concerned with the welfare of the poor and the rich, but never seems to care about the Middle Class. As of right now, the Middle Class is already in the process of being slowly eliminated once again, by tax laws and other laws and regulations.

What are you beliefs on this topic?

I can exemplify my statements and go on forever with details that show how this is all true, but I will not. All that is needed to be said is, Everything Ignores The Middle Class.

~Nothing helps, or cares for the Middle Class~

Answer 1

I do not which tax code you are looking at, there is no income tax cap, however there is a Social Security tax cap on wages and it applies to each year of wages--there is no cap based on one never having to pay in additionial years.
The wealthy in our country pays for more than 55% of all income tax revenues(source IRS).
I would love to be in their tax bracket, hey I would be willing to pay more taxes with that type of income.
Looking at the stats, I appear to be in the middle of the middle class based upon household income.
I agree that the tax breaks for the middle class are rapidly disappearing. With the changes to a standardized deduction and AMT not being inflation adjusted, and the caps on retirement plans, we need help. I for one support the President's plan to make medical insurance premiums tax deductible. This would help many working middle class families. It could be even better if it also made co-pays deductiable. The wealthy can afford medical care, the poor can it for free--Medicaid, and we pay premiums and co-pays.
It would be good also, if the Hope Education Credit and the Lifetime Education Credit was adjusted each year for inflation.
A lot of the problems we(middle class) have are we do not have an around the year lobby group respresenting us in Washington, and we fail to ask political candidates questions about these issues time and time again.
It appears to me, that the American middle class is rapidly being pushed downward and the country may someday be faced with only two classes of individuals the poor and the rich. This is a bad situation for any country, because stable countries have a strong middle class.
I wish you the best.

Answer 2

Speaking from personal experience in reference to personal salaries: A 30 yr old with no dependents and an income of $65K (£32K) brings home just under $44K (£21K) $40K(£19K). It's a decent income slightly higher than the average for an individual, slightly lower than the average for a house hold. However, on a percentage bases - it's the highest taxed group in the nation and the largest. Khrushchev would be proud.

I guess the poor, $16K (£8K) or less per family member, really can't afford to pay that much in tax or it would take food off of the table. However, since that group is one of the fastest growing groups, their individual contributions would add up on an aggregate scale and really help alleviate the burden on other Americans if we were flat taxed.

The rich, with Warren Buffet and Bill Gates making over 900 Million a year (£43M) pay a much, much, much higher dollar amounts than typical Americans, but a much lower amount as individuals on a % basis. I guess that's fair - they don't use 16,000 times as many government resources as I do, so they shouldn't have to pay 16,000 times as much in tax as me. All that being said.... it boils down to a choice to tier taxes or charge flat taxes.

Answer 3

i agree that you have some valid points, but i would rather be stuck in the middle class and pay my taxes (maybe even more than i should) that be less fortunate and be stuck in the lower classes and depend on welfare and worry about where my next meal is coming from.

Answer 4

Amen, you are preaching to the choir. I believe Ben Franklin and Thomas Jefferson said that every nation needed a revolution every hundred to hundred and fifty years so that we could start out with a clean slate. Our slate is definitely in need of cleaning at this point in time.

Answer 5

I think the average millionaire pays more in taxes than you'll earn in 10 years.