Rich people for the most part create so many jobs and buy so much stuff that I think they should pay less taxes. This will make them more willing to continue what they do. The middle class has and will continue to bear the burden of taxes.
That's what Ronald Reagan said and it didn't really work out too well. The thing is, the government needs to raise money to function and letting all those rich people spend all their money on boats and champagne isn't going to pay for defense, road construciton, disaster relief...etc etc. The rich can do without another pair of $500 shoes. The middle class won't be able to send their kid to the college they want to attend if they can't take home more of their pay.
I think that the most "fair" way would be to take 10% of everyone's income and be done with it. I know it's a lot more complicated than that... but that's because we've made it that way.
Why would it be fair for someone to struggle to make $20,000 dollars a year and have $2,000 taken out and someone who makes $20,000,000 a year to only have $2,000 taken out as well. Just wouldn't make sense.
The more money you make the more you should have to pay. It's not like the person making 20 mil a year will miss the money as much as a less fortunate person would.
I honestly think that I would feel the same way if I was making 20 million a year.
I'm a firm believer in a graduated tax code. The more a person makes, means they rely more on the infrastructure, & institutions of government more than those who make less. They also benefit from society more than those who make less. Back in the late fifties & early 60's we had like a 90% top rate. With deduction no one really paid that much, but they paid more than today. I don't want to go back to those rates, but we have to decide what kind of society we want to live in, & base our tax structure accordingly.
You are right! Everyone sees it from their own perspective. Since I am higher up on the income scale I feel like I pay a disproportionate amount. It seems like everyone below me gets too much government support and breaks like college financial aid. Everyone above me has so much money that they don't care. It is hard to step outside that view and see it with objective eyes.
I do think a flat tax would be much fairer but it will NEVER happen. Too much of Congress's power is tied to manipulating taxes. They will not allow that to be taken away.
Yeah, it makes mathematical sense. Not to mention, in making and taking such gross salaries a lot of well off people (not all of them of course) take a lot away from those who need it most and are barely surviving on minimal pay, but contribute just as much to society.
Trickle down won't and didn't work because there are not enough rich. I studied economics and the amount of rich people, while comforting to attack, is not enough to make a difference in my opinion. The amount of people making over 200,000 is small. Fair tax is a great idea but I don't think it will come to pass. Think of this: if you make 20,000 and pay 2000 it will hurt you more than the guy making 2,000,000 paying 200,000. He still has 1.8 million. An interesting note is that federal tax was supposed to only be a temporary wartime thing. I can not think of a tax that has ever been repealed. Rather than how much we pay I think that we should focus on what the money is spent on. I respect everyones opinion.
I just heard one statistic that claimed 5% of the top income in CA pays over 40% of the tax. How would you feel if you worked your butt off and finally got that big promotion, that big raise, or a new job that paid you a-lot, only to have someone come along and tell you, "now that you're making all this money, we're going to take 50% of it away for taxes!"
The only way to be fair is for everyone to pay the same percentage. There is no reason that someone with the ability to make a large amount of money should have to pay more taxes, and I'm saying that while being unemployed and poor.