Its TAX time and I believe that the MAJORITY in the USA are getting totally screwed.
I just got back from the post office and mailing my Income Taxes. Found the Property Tax bill in the mail. WHAT A JOYFUL JOYFUL day
TOP 50% of taxpayers paid 97.7% of all income taxes.
BOTTOM 50% paid only 2.3% of taxes.
I believe we have achieved "income redistribution" at this point and its now UNFAIR TO MOST TAXPAYERS in the USA.
Now I am NOT suggesting that the very bottom in society need to get some sort of massive increase in taxes, but it strikes me that the bottom 20% or maybe 30% are probably OK the way things are. From the TOP 25% down to the TOP 50% that groups pays 11%. But at 50% and BELOW that group pays essentially NOTHING. So if you are at 51% you get screwed, but earn just a tiny bit less, and end up at 49% then you essentially pay nada?
And then there are the "Sub-Chapter S" corporations (SMALL buisinesses) where the business income is paid at the PERSONAL TAX RATE, effectively forcing small businesspeople into the TOP 50% or HIGHER and screwing them. WTF?
But in what way is it fair that the very middle are paying essentially very very little?
http://taxfoundation.org/article/summary-latest-federal-individual-income-tax-data-0#table1
I just got back from the post office and mailing my Income Taxes. Found the Property Tax bill in the mail. WHAT A JOYFUL JOYFUL day
TOP 50% of taxpayers paid 97.7% of all income taxes.
BOTTOM 50% paid only 2.3% of taxes.
I believe we have achieved "income redistribution" at this point and its now UNFAIR TO MOST TAXPAYERS in the USA.
Now I am NOT suggesting that the very bottom in society need to get some sort of massive increase in taxes, but it strikes me that the bottom 20% or maybe 30% are probably OK the way things are. From the TOP 25% down to the TOP 50% that groups pays 11%. But at 50% and BELOW that group pays essentially NOTHING. So if you are at 51% you get screwed, but earn just a tiny bit less, and end up at 49% then you essentially pay nada?
And then there are the "Sub-Chapter S" corporations (SMALL buisinesses) where the business income is paid at the PERSONAL TAX RATE, effectively forcing small businesspeople into the TOP 50% or HIGHER and screwing them. WTF?
But in what way is it fair that the very middle are paying essentially very very little?
http://taxfoundation.org/article/summary-latest-federal-individual-income-tax-data-0#table1