Here would be my brackets: 10 million a year is ultra-rich. Tax them at 50% 1 million a year is rich. Tax them at 40% 500K is getting rich. tax them at 30% 100K is upper middle class. Tax them at 25% 50K is middle class. Tax them at 20% 30K is working class and students. Tax them at 15% 20K is the working poor. Tax them at 10% 15K is poverty. No taxes due. The bottom two brackets don't make enough for taxing them to be worth the expense. The top two make so much dough that taxes don't hurt their lifestyle. Most of us are in the middle four groups and the candidate that best addresses these income brackets will get a lot of swing votes.
Zippo. Zero. Ziltch. No deductions, no tax credits, no loopholes, no offshore money, no evasions at all. You make money--you pay your share. The more you make, the more you pay. No more paying for tax accountants to figure your taxes. It's an easy computation. Here's the best part . . . no more borrowed money and mandatory balanced budgets. If politicians want to gold plate a spending bill, then they have to raise our taxes and pay the consequences at the ballot box. If they manage to cut spending, then they can cut our taxes and reap the benefits at the ballot box. But this business where they can spend money that they don't have to buy pork to get themselves re-elected by borrowing money from China is for the birds. Make the decision-makers directly responsible for their actions.
im sure most/all of you realize this, but it important. only income within the tax bracket is taxed at that rate. under clinton the highest rate was 39%, but someone making $300k did not pay 39% taxes on the $300k, but on the portion of the $300k that was in the highest bracket (i dont know where the line was). this is not an important point for those with enormous incomes---they effectively would pay 39%, but this point is very important because most people in the highest bracket are barely in the bracket. only a small fraction of their income is taxed at the higher rate. i wonder how many that make $251k/yr think they are going to get raped by obama because they are in the highest bracket? i recently found out my mother did not realize tax structure worked this way. i also had a friend a few years ago that was worried about a small raise he got to put him just over $50k---he thought he was going to lose $$$.
I don't like this at all. A person's economic status doesn't make them more liable to the govt. Each person should be equal. And if a person had to pay more they should get more out of it, not less.
I'm shocked. Shocked, I tell you! The ultra rich have gotten more from this country's democracy, militray protection, and free enterprize than anyone else, thus they pay more for the privilege. They can afford it.
Simply because you can afford it doesn't make you liable. Maybe someone makes $1M a year and spends $990k of it. Now can they afford it? I think the poor out number the rich. Thus they get the benefits more.
Is this supposed to make sense? Let me get this straight. A poor guy, living in poverty, working as a janitor should pay the same as a guy making $10 million and living on the Riviera? Who is living the American Dream here?
It was but you don't see it the same way I do. And yes I believe every person should pay the same regardless of their economic status as we all should benefit the same. This rich or "richer" should not have to pay more for others. Now if they wanted to they go for it. But this should not be something mandatory. *Note to self. Why am I getting in an argument with Red.. WHYYYYYYY
