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The rich don't pay enough in taxes.

Do the rich pay enough in taxes?

  • Total voters
    44
bilbus

bilbus

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Damn rich don't pay their fair share .. right?

and before anyone says anything, i know i put "to" and not "too". I cant edit the poll.
thanks
 
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Tax paid

The top 5% pay 53.25%
The top 10% pay 64.89%
The top 25% pay 82.9%
The top 50% pay 96.03%

The bottom 50%? They pay a paltry 3.97% of all income taxes.

The top 1% is paying more than ten times the federal income taxes than the bottom 50%!

income earned.

The top 1% earns 17.53
The top 5% earns 31.99
The top 10% earns 43.11%
the top 25% earns 65.23%
the top 50% earns 86.19%

John Weicher, as a senior fellow at the Hudson Institute and a visiting scholar at the Federal Reserve Bank, wrote in his February 13, 1997 Washington Post Op-Ed, "Most of the rich have earned their wealth... Looking at the Fortune 400, quite a few even of the very richest people came from a standing start, while others inherited a small business and turned it into a giant corporation." What's happening here is not that "the rich are getting richer and the poor are getting poorer." The numbers prove it.
 
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Rich don't pay enough taxes.
 
but the top 5% pay over 50% of the taxes. Why is that not enough.

What do you think a fair tax rate would be for income over $300,000? currently in the US its 35% (i believe)
 
Well i have no idea about US but inside UK - The ultra rich take the piss.
 
The top rate for income tax in the U.S. is considerably lower than it has been in the past. It also is the lowest of any major developed nation. It could be raised with a minimal amount of economic harm or personal suffering.

However, inheritance taxes and capital gains taxes are currently considerably lower than income taxes. Personally I think inheritance taxes are the prime candidate for a tax increase to balance our budget. Raising inheritance taxes has very little economic impact and provide a decent of revenue. Its also more reasonable to tax money that isn't being earned compared to taxing people who actually have to work for their money.
 
Why should people be taxed twice?

They paid taxes when they made the money, should they pay taxes because they died before they spent it?
 
bilbus said:
Why should people be taxed twice?

They paid taxes when they made the money, should they pay taxes because they died before they spent it?
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Why not?
It wasn't even the person who inherited it that worked for it. It's the person cold and dead in the grave!
 
Laila said:
Why not?
It wasn't even the person who inherited it that worked for it. It's the person cold and dead in the grave!
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That money left to you is meant to be a base to build your future on.

Not only that but the money has already been taxed.
How is it just to double dip on taxes?
 
The government did not earn it either.
 
Harry Guerrilla said:
That money left to you is meant to be a base to build your future on.

Not only that but the money has already been taxed.
How is it just to double dip on taxes?
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Tax the inhertance depending on the scale of the amount.
 
bilbus said:
The government did not earn it either.
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Gosh, tax money benefits us directly through NHS, Schooling, GP, motoways :roll:
 
Laila said:
Why not?
It wasn't even the person who inherited it that worked for it. It's the person cold and dead in the grave!
Click to expand...

Yes, it's the person who is cold, dead, and already payed taxes on that money. Why tax it again just because the earner died without spending it?
 
Kernel Sanders said:
Yes, it's the person who is cold, dead, and already payed taxes on that money. Why tax it again just because the earner died without spending it?
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It depends on the amount, i ultimately think it's a selfish issue.

If someone has been given over a certain cap. Take away a percentage of that [we did that anyway in UK until recently]
If it is a small amount, keep it.
 
Mere consideration of the fundamental principle of the diminishing rate of marginal utility will necessarily provide a basis for progressive taxation. Unfortunately, such a basic element is too often dismissed by opponents.
 
I think it's selfish that you own a house, and don't let me live in one room.

Hell you own a 4 bedroom house, you don't need all those rooms.

With that same logic, there should be a income cap ... if you make over say 200k you should not be able to keep the rest.

How about 100k?

50k?

35k?

Wait did those last two make you change your mind?
 
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bilbus said:
I think it's selfish that you own a house, and don't let me live in one room.

Hell you own a 4 bedroom house, you don't need all those rooms.
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All being used sorry, maybe next time

Why put a cap on income? Tax it
 
don't you think it's selfish using all those rooms .. when i have no room of my own?

Laila said:
All being used sorry, maybe next time

Why put a cap on income? Tax it
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She said mabye ... mabye isn't a no. Score!

We can be roomies.
 
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Ocean seperating us, makes it impossible :/

Maybe is a No in women language.
 
death could not keep Romeo and Juliet ... apart, whats the big deal about a little water.
 
bilbus said:
death could not keep Romeo and Juliet ... apart, whats the big deal about a little water.
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:shock:

Doesn't the whole me being a muslim put you off?
I could blow you up while you sleep you know ...
 
Laila said:
It depends on the amount, i ultimately think it's a selfish issue.

If someone has been given over a certain cap. Take away a percentage of that [we did that anyway in UK until recently]
If it is a small amount, keep it.
Click to expand...

Selfishness is the ultimate driving force behind all humans why tax it for one group?
 
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