Since only 6% of incomes exceed $100,000.00 a year and 2% control 75% of all the wealth why not tax them .?

Question

It use to be that people who made real money in this country paid most of the taxes .
Now they pay hardly anything .
The working people of this nation are paying all the taxes .

Income derived off money sadly accounts for most of the profits made in America .
If you have the ability and only 3% do to pay others to work for you then you already control 75% of all the money in this nation .
People no longer own homes they have huge mortgages that allow interest deductions so the income they make has to go for housing . If not you are a renter pissing your money away completely .

Whats wrong with taxing the top income earners 75% like we use to . .

Truth be told a tax is only paid by working people anyhow . I either pay it directly with income taxes or indirectly in higher prices for goods and services .

Answer 1

We shoulder 35% of our income to the government whereas the most wealthy only pay 17% or less. I find it fascinating that the 2nd most wealthy man in America has not only asked for a tax increase on the wealthy, but also asked them not to repeal the inheritance tax.

It's fine to be wealthy, but not fine to not carry on equal burden of income payment.

Answer 2

The 2% controlling the 75% also have the laws written. meaning part of that 75% we voted for are at Capital Hill waiting for their masters the 2% to tell them how to screw us and us the 75% just smile and say thank you!!!!!!
I like that guy I'll vote for him next time, such sheep we are!!!!

See Bush is clever, instead of taxing us on income, they found a way to do it and we all love it, they just raised the Gasoline prices and collect three times the tax, food is more expensive and automobiles, not driving gas savers, but 4 door 3/8 ton V8's, that cost 35-40 thousand, its just to stupid.
If you make $18000.00 a year you are well off, you just don't understand it.

An auto company thinks they can sell 50,000 autos this year, they say oh, the government will want their cut, auto manufacturer well just figure the price in the auto. End of year auto company paid 10,000 in tax, HA HA they paid nothing they made money on the tax you payed and on top of that your state taxed you for buying it, then your taxed for useing it at the pump, What sheep we are/

Answer 3

If this country went to a flat tax that is exactly what would happen. Everyone pays 8% of their income to taxes and all would be fair and the most put in will come from the top 6%.

Answer 4

booman, Mother; they have it right. Where do you get your facts? The largest demographic for supporting the leading Democratic candidates is below the median income level. Believe me, once you get to $100k you'll change your tune about taxes. The ones who think people aren't getting taxed (to death) are mostly those in the 20% that don't pay anything.

HERE ARE REAL STATISTICS:
In 2006, the median annual household income according to the US Census Bureau was determined to be $48,201. The median income per household member (including all working and non-working members above the age of 14) in the year 2006 was $26,036. In the year 2005, there were approximately 113,146,000 households in the United States. 19.01% of all households had annual incomes exceeding $100,000,12.7% fell below the federal poverty threshold and the bottom 20% earned less than $23,202.

Answer 5

If only 6% of the population was taxed, Govt revenue would be much lower and welfare impossible to pay for. So, a good idea.
Realistically, when you try to tax people at more than 40% their money tends to disappear off-shore.
The rich, middle and poor are not the same people forever. An economy is dynamic. A high tax on the rich effectively prevents middle class people from becoming rich.
Morally, you are proposing theft from people who have committed no crime.

Answer 6

Uh, you are wrong. I have looked into it. The majority of tax income to the government comes from the upper wealth. Sure, they can afford it and it doesn't bother them as much compared to their wealth but I think the figure is 65% of taxes are paid by the wealthy. So, that means they are paying their fair share. Pay your taxes and live within your means. (OOPS., 65% would be MORE than their fair share)

Answer 7

They are already heavily taxed. Take a look at who pays the income taxes in this country. The bottom 50% of wage earners pay 4% of the taxes collected. The top 50% pay 96%.

[edit] Tax distribution

In the United States, the Treasury Department reported, based on IRS data, the share of all federal taxes paid by taxpayers of various income levels.[5][6] The data shows the progressive structure of the U.S. federal tax system that reduces the tax incidence of people with smaller incomes.

The top 0.1% of taxpayers by income pay 17.4% of all federal taxes (earning 9.1% of the income).
The top 1% of taxpayers, gross income $328,049 or more, by income pay 36.9% of all federal taxes (earning 19% of the income).
The top 5% of taxpayers, gross income $137,056 or more, pay 57.1% of all federal taxes (earning 33.4% of the income).
The bottom 50%, gross income 30,122 or less, pay 3.3% of all individual income taxes (earning 13.4% of the income).

Don't let these facts dissuade you from giving a thumbs down. That's what I normally get when I present facts in my posts instead of rhetoric and feelings.

Answer 8

You need to check your data.

The top 1% of earners pay 36% of all the income tax. The top 50% pay 96% of all the income tax.

Answer 9

Why not get some motivation and work hard in school and life to be like those 6%????

Do you tell your kids to let someone else take care of them? Or do you tell them to study hard and work hard and take care of themselves? Isn't that what America should be about?

You have no idea how large the taxcut was for average working families ---- the marriage penalty was axed and child tax credit were made much larger. You might want to actually understand reality.

BUSH MADE IT SO A LOT OF PEOPLE PAY ALMOST NO TAXES AT ALL. Does that bother you?

Answer 10

Your numbers are incorrect. Why should successful people be punished for achieving their financial goals. Everyone should pay the same % of their income in fed tax. The super wealthly are still paying more then someone making minimume wage.
05' censuse says 19.1% of Americans household make $100,000 or more.