loan,banking and credit
*Loan,banking and credit>>>tax bracket

Taxes - how can you say that the rich benefit from our current tax brackets?


Those who earn more money pay a progressively higher rate as they earn more - how is it possible that lower earners can find a way to complain about this? The top 1% of earners pay over 20% of all income taxes...without them we would need more tax revenue from EVERYONE! The current system by definition discriminates against the wealthy - what would the poor have to say about a (totally "fair" and even) flat tax? Someone help me!

The rich do pay taxes. The 1986 tax act did away with the 100 individuals who did not pay tax. In fact the tax law went so far as to now have the alternative minimum tax affect more and more taxpayers each year.
A flat tax as proposed by the Republicans would place a much greater burden on the middle class by making dividends and capital gains tax free. A flat tax is regressive in that a person paying the 30% proposed rate is paying a much greater share of their income in axes than they ever would under current law.
A consumption tax would not work because it would place a greater burden on the younger tax payer who is in the situation of accumulating assets. Older taxpayers don't spend as much on things because they have aleady bought things and don't have to but more because the kids are grown and out of the house.
The payroll tax for FICA keeps going up and that is not goning to change. So for everyone who thinks a flat tax is better have to understand that if the flat tax or the consumption tax comes into being they are still paying 7.65% of their earnings in the payroll tax on top of any other tax.
The current system may have some problems but any other system would cause the middle class to to pay a much greater share of their income out for taxes.
The rich should pay taxes like everyone else.

The regular person has to work at least two jobs just to make ends meet and pay taxes.

The rich have tax breaks. Everyone else does not.

So, yes, I agree, there should be one flat fair tax for everyone.
Tags
tax accounting tax advice tax attorney tax bracket tax calculation tax calculator tax credit tax cut tax deduction
Related information
  • Taxes - how can you say that the rich benefit from our current tax brackets?
  • Why are there different tax brackets???
  • Should there be higher tax brackets for serious high earners?
  • Where can i get printable tax brackets for 2005?
  • What are the 2005 income tax brackets? Are they a percent of all income or adjusted gross income?
  • What are the Internal Revenue Serivce tax brackets?
  • Chart that shows effective yield of tax free muni bonds for various tax brackets and interest rates?
  • Find out the latest Income Tax Rate Brackets in the U.S.?
    •    

    SiteMap--Copyright/IP Policy--Contact Webmaster
    For personal non-commercial use only.