Government

Who pays taxes? Let’s look at the numbers

By now we all know the Republican tax overhaul will disproportionately benefit the wealthy or at least that’s the Democratic story line.

Why are we surprised? If you are going to cut taxes, won’t the benefit mostly go to the people who pay the most in taxes? How do you cut taxes for people who have a negative tax bill? 

Taxes need to be fair, but that’s in the eye of the beholder. I don’t think anyone should pay more than 10% of their gross income in taxes, but I’m a dreamer. We gave any chance of that up starting in 1935. 

Today our leaders seek class warfare; to pit the 1% or more accurately the top 20% ($79,000) against the rest as if they are criminals; lords over their surfs. 

While we fight about tax reform others seek to save Social Security, Medicare, to provide free college, to expand health care on the backs of the same targets of their unfair rhetoric. 

Hey, I’m all for fairness and a progressive tax system, but a country can’t survive on funding by only 20% of its population. Those who push for more and more so-called safety nets fail to mention the high taxes paid by virtually all citizens in their democratic socialist country idols. Let’s add a 20% VAT on top of all other taxes. Our leaders can’t even bring themselves to tell us what the Social Security payroll tax should be. 

Via MarketWatch

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4 replies »

  1. Granted the math says they should be paying the highest taxes but when they invest offshore; they don’t. Wasn’t it Romney they said only paid 14% as his investments were all offshore??? Now what they want to do is eliminate the taxes NJ pays off the income tax. So in fact, that RAISES everyone who has an income in NJ and NY, what we have to pay to Uncle Sam. You if you are a single retiree living in this state, you could owe over 2,000 when the taxes are done. And that is Middle Class. Low class will not owe anything. They don’t own homes, have a pension, have a good paying job. Watch the homes be foreclosed more than they already are. Jobs have left the state and the country. I know several folks in their 50’s who now are looking for a job and they were management before in a company that left NJ.

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    • If you have an effective tax rate of 10% you have to lose 20,000 in deductions to get to $2,000 few middle class people get to that point in property and NJ income taxes.

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    • I wish we stop talking percentages and start talking the amount. There is a big difference in the amount of somebody paying 10% on $20,000 (which is $2,000) vs 10% on $1,000,000 (which is $100,000). The fair thing is a flat tax percentage.

      Democrats and the lower class think that fair means they should be a smaller percentage for them and the rich should pay a higher percentage. Some how fair to them is that pay nothing and the rich pay for everything.

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