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Passions in Poetry

What is a 'Fair' tax rate? 20,30,40,50,60,70%?

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threadbear
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since 07-10-2008
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0 posted 09-24-2008 04:50 PM       View Profile for threadbear   Email threadbear   Edit/Delete Message      Find Poems  View IP for threadbear

Quite often i hear pundits claim that the wealthiest should pay the most taxes.  Well, they do, in spades.  The top 10% of wage earners in the United States account for 70% of the income derived by taxes.

of the 138 million taxpayers in the United States, over 1/3RD DON'T pay any taxes at all!  Shocking, huh?  I didn't know the figure was that high.

questions:
Do you feel that people should keep the lionshare of what they earn?  If so, how do you explain the progressive tax nature of income tax? (the richest pay nearly 3timex the national average)

What do you think the government is entitled to, in a total percentage?

Let's total an average person's taxes:
Social Security 8%  (includes Medicare tax)
State taxes 5-10%
Income Taxes - 27%
Property taxes - 6%
County taxes - 1-3%
Gas taxes - 1-2% total income (fed,state,local)
Luxury taxes - 1-2% (gambling, cigs, liquor)
add 'em up
the average person with a home now pays
52% to 57% of their income to government taxes.  

Is that fair?
Keep these figures in mind next time you hear a politician claim:  We MUST have a tax increase!  Especially now, in these financially dire times, the percentage of income you actually get to KEEP, seems incredibly important.  

[This message has been edited by threadbear (09-24-2008 05:38 PM).]

Sunshine
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1 posted 09-24-2008 05:39 PM       View Profile for Sunshine   Email Sunshine   Edit/Delete Message      Find Poems   Click to visit Sunshine's Home Page   View IP for Sunshine

The next time a politician asks me if I think we need a tax increase, I'll say, "sure, just as soon as Congress' salaries and budget is reduced by 1/2."
threadbear
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since 07-10-2008
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2 posted 09-24-2008 06:58 PM       View Profile for threadbear   Email threadbear   Edit/Delete Message      Find Poems  View IP for threadbear

Postscript:

Obama and others propose a 'graduated tax increase' to buy down the debt.

There's an old story about a frog who voluntarily jumped into a cool pan of water.  Gradually, in small increments so to be unnoticeable to the frog, the heat was turned up gradually.  Eventually, and quite soon, actually, the frog cooked.
 
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