JT wrote:CatNamedRudy wrote:I'm so tired of the 1% blaming the poor for the state of the economy. Meanwhile, the group that puts the most into the economy (us middle classers) are getting screwed left and right by an unfair tax system and cuts that have no effect on the top 1% but take money out of my pocket that could be going into the economy.
I'm tired of people blaming the [top] 1% for their problems. The tax system is unfair: 70% of income taxes (we are talking about the U.S. here) are paid by that 1% whereas almost 50% of Americans pay no income tax. You can talk about the middle class getting screwed and so forth but that ridiculously unfair 70% statistic remains. Facts are facts.
I love statistics and their interpretations. Someone may read those same facts and conclude that the top 1% of earners are earning so much more than the bottom 50% that it creates such a desparate, if not disparate, situation? Think about 50% of a population not earning enough to reach the threshold where income tax rules kick in? I'm pretty sure it's not a particularly high number that needs to be attained before having to pay?
There is of course the obvious difference between how much tax you pay as a
percentage of your income compared to the overall amount you pay because of your total income?
I'm running Moon-Crane Incorporated in the United States Of Moon-Crane, and my country has a simple flat 20% income tax rate from the very first Moon-Crane Dollar earned: if i'm paying myself MC$100,000,000 per annum and employing another hundred people at a healthy MC$100,000p/a each then my tax burden would be MC$20,000,000 and their combined tax burden would be MC$2,000,000. So that gives a combined tax payment of MC$22,000,000 of which (off the top of my head) i'm paying >90% and they're each paying <0.1%?
So, if your argument is that it's unfair that your 1% are accounting for 70% of tax revenue because they pay a higher percentage of their income in tax (and i'd be interested in evidence for that one) then i'd say that's a fair argument. If, however, they are in fact paying the same or lower percentage of their earnings to reach that 70% of the burden, then i don't understand the unfairness - it's mathematics?
If you have a way of changing that unfair tax burden discrepancy without having a more equal distribution of the wealth, i'm genuinely all ears to the solution.