I thought the more money you make, the higher the tax? But it seems like they tax up until you're filthy rich, then you don't get taxed anymore.
2007-10-08 10:05:33 · 7 answers · asked by lost.in.love 4 in Business & Finance ➔ Taxes ➔ United States
It not always so. You may at millionairematch find what i said is true. There are only exception to refuse to tax.
2007-10-11 02:51:01 · answer #1 · answered by Geogia Q 3 · 0⤊ 0⤋
Yup, that's why the top 5% of earners pay over half of the taxes collected, and the top 10% pay around 2/3 of what's collected, and the bottom 50% pay about 4% of the total.
What makes you think what you do? Ask Bill Gates or someone REALLY rich - I'm sure they'll get a good laugh..
2007-10-08 17:37:28 · answer #2 · answered by Judy 7 · 2⤊ 0⤋
Where do you get the idea that the rich don't pay taxes?? Truth is, the top 5% of all income taxpayers pay more than 50% of the total taxes in the US.
2007-10-08 17:38:20 · answer #3 · answered by Bostonian In MO 7 · 4⤊ 0⤋
You've been brainwashed by the media.
The top 5% of wage earners pay 53% of the total tax in the country.
The top 10% pay 65%...
The top 50% pay 96% of total taxes.
Looks like they are paying taxes.
2007-10-08 19:16:20 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Actually the rich pay a lot more in income taxes than those at the lower end. There are exceptions, but the general rule, higher income, higher rate.
2007-10-08 17:17:48 · answer #5 · answered by Anonymous · 3⤊ 2⤋
The rich get taxed but they get a whole lot of tax breaks that other income levels don't get. They donate a ton of money to different charities and organizations, and this way they get taxed next to nothing. If they don't give it away, they will have to give it to the IRS.
2007-10-08 17:18:28 · answer #6 · answered by Genell 1 · 1⤊ 2⤋
Yep...you've discovered a huge conspiracy. The rich don't pay any taxes, and it's another way to keep the "little people" down.
2007-10-08 17:14:09 · answer #7 · answered by Anonymous · 2⤊ 1⤋