Lol I wish I was anywhere close to making that. While I agree the ultra rich should be paying their fair share of taxes, and shouldn't be afforded the luxury of using loopholes the rest of us plebs would have trouble even understanding. I don't believe anyone should have to pay over 50% of their yearly income in taxes.
I don't think that was my point, I was saying that you could cut at most 100 bucks from Guy B because that's all he paid and you couldn't cut anything at all from guy C or D because they paid nothing at all. So if you even gave guy A a 2% tax cut he's going to benefit 100 times more than the guy you gave a 100% tax cut to. Basically any time you give any cut to the people at the top, they are going to receive most of the relief due to them simply paying so much more than anyone else. I mean, the top 5% in this country pay 60% of the total income tax...the bottom 75% of the country pay only 13% of the income tax....and yet some people STILL don't think the "rich" pay "their fair share". When half the country pay next to nothing already, how can you give them a meaningful tax cut?
Preliminary analysis With the richest admin ever, you would think they would look after the small guys.
I know I read pgab post on and on about how incorruptible Trump is because he's a billionaire and what would he need more money for? Trump is doing us a favor by not even earning a $250,000 Presidential salary. He's out to help the little guy! What a joke. LMAO.
Anyone who thinks they pay 50% of their income in taxes needs to get a new accountant because theirs is robbing them blind.
An economist explains how Trump's tax plan could be great for rich Americans, but not as good for the middle class http://www.businessinsider.com/how-...ford-economics-gregory-daco-economist-2017-10
I guess that would be one way that those who pay almost nothing could play absolutely nothing, I guess to some that's "fair"
The only way they pay "almost nothing" in taxes is if you consider only federal income tax. If you look at the entire tax burden, your point falls flat, as usual.
I don't think it's fair to consider social security as tax though. Social security contributions are tracked on an individual level and how much benefit you can expect to get back is based on how much you pay per year & the # of years paid etc.
So it is "fair" to consider the only tax that is progressive, ignoring all other taxes which, coincidentally, are the ones which fall on the middle and lower classes most heavily. Not only is this not "fair," it isn't honest, either.
But like I said before, social security is not really a tax. So I don't think it's useful or "honest" to consider social security contributions when discussing if taxes are progressive enough. Most of the least progressive taxes are not from the federal level (sales tax, state income tax, county income tax etc), so they are outside of the scope of any federal tax cut.
Yes, I know. You've been convinced by hucksters that the only taxes that we should be looking at for "tax reform" are federal income tax, despite the fact that this is the only one which falls primarily on the wealthy, meaning that cutting it will result mostly in tax cuts for those in our society who need it least. There are a great many ways that we could give tax relief which would mainly benefit the people who go to work every day, but those are "not really a tax" or are "not on the federal level." There are a myriad of ways that we could give tax relief to the middle class, but you won't find Trump advocating for any of them.
So living in New York, my state/local tax deduction saves me about $2,500 on my federal income tax. I'm definitely middle class by NYC standards - so this is a painful tax hike. So why am I subsidizing a tax cut for rich people again? Are any of you Republicans for this? I understand you don't like me and laugh at the idea of me paying higher taxes, but I thought you all were against tax increases on the middle class. I already pay more taxes than small business owners who make more than I do.
Trump's own Treasury secretary contradicts Trump's latest tax plan lie... Mnuchin: Repealing estate tax will help 'rich people' http://thehill.com/homenews/administration/355423-mnuchin-repealing-estate-tax-will-help-rich-people
