Jul 14th 2012, 16:46:47
Tax bracket is a fake issue.
1)All tax systems are progressive. Wealthy don't see "the top tax bracket" on their entire annual income, only on the dollars they made over the next tier. For the dollars between 50-100k, they are taxed at exactly the same rate as you and I.
2) The vast, vast majority of income of wealthy people is the carried interest rate of 15%, rather than the annual income from business. That's why they let people bloviate on about tax brackets - for example, under 1% of buffett's annual income is a check from Berkshire Hathaway.
3) Everyone pays taxes; get over it. Holy christ, i want to stab with a rusty spoon every time someone actually believes there are people paying no taxes. What do you think the tax on gas is? What do you think the tax on a grocery store bill is? What do you think the tax at a restaurant is?
Those dollars go directly to governments, and thus the vast majority of TAX dollars are from the.. poor people. The 4,5,7% at the end of a bill adds up.
To assert that "rich people will always get theirs" as a justification for today's income disparity.. ignores the fact that the 50's-80's were the best time for corporate profits in US history, as well as the time when the US middle class bought the most. The best way for rich people to get more dollars is for them to pay higher salaries and take less from companies for themselves.
1)All tax systems are progressive. Wealthy don't see "the top tax bracket" on their entire annual income, only on the dollars they made over the next tier. For the dollars between 50-100k, they are taxed at exactly the same rate as you and I.
2) The vast, vast majority of income of wealthy people is the carried interest rate of 15%, rather than the annual income from business. That's why they let people bloviate on about tax brackets - for example, under 1% of buffett's annual income is a check from Berkshire Hathaway.
3) Everyone pays taxes; get over it. Holy christ, i want to stab with a rusty spoon every time someone actually believes there are people paying no taxes. What do you think the tax on gas is? What do you think the tax on a grocery store bill is? What do you think the tax at a restaurant is?
Those dollars go directly to governments, and thus the vast majority of TAX dollars are from the.. poor people. The 4,5,7% at the end of a bill adds up.
To assert that "rich people will always get theirs" as a justification for today's income disparity.. ignores the fact that the 50's-80's were the best time for corporate profits in US history, as well as the time when the US middle class bought the most. The best way for rich people to get more dollars is for them to pay higher salaries and take less from companies for themselves.