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Are the wealthiest paying enough taxes?

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Well, they already pay a lot of taxes!

7Alcatraz 4 years ago

They pay 15% of taxes. 15% of their income. That is substantial. If they make a million, they pay 150000 of taxes. Now you guys are saying that paying 20-30x times the amount of taxes of middle-class worker is not enough. That is punishment for being successful.

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Submitted by 1willywallace 4 years ago

The wealthiest 10%, pay 70% of all income tax. It is not a matter of taxing the rich more. They pay 70% of all income tax. 47% of americans do not pay any tax. Our country's situation of more and more voters not having to pay taxes and receive benefits is similar to when two wolves and a sheep have to vote on what is for dinner.

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Submitted by 7Grandmax 4 years ago

Don't you think the richest have too much money at one point? I understand the rich pay a lot of taxes but we need to make sure the gap between the rich and the poor stops increasing or the country's economy will crash. The middle class is important, actually crucial to the economy and they are being crushed under their tax burden.

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Submitted by 1willywallace 4 years ago

You answered your own question. I agree the middle class is critical and the gap is a concern. But like you said, "the middle class is getting crushed under THEIR tax burden". Federal (not just income) tax for middle income families is crushing them. These should be lowered significantly. This problem is not resolved by taxing the rich more. We should be looking to raise the level of take home pay for the middle class. I know tax the rich is a populist theme, but it does nothing to solve the core problem. The problem with current political leadership is, they bash the very very rich, for private planes and multiple houses, but then they propose policy which raises taxes on a couple who make $125K each. There is a huge disconnect there. The other thing I would suggest is cost of living. All anyone talks about are taxes. But no one discusses the cost side of the equation. Why it is becoming more and more difficult to raises a family with two kids on an income of $80K per year in the Midwest. I would argue it is the cost side of the equation (inflation) which has had more of a negative impact on the survival of the middle class than current tax policy. But regardless, taxing the rich does nothing to help the middle class and as I stated earlier w 10% of the wealthiest paying 70% of all income tax I believe they pay their fair share.

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Submitted by 7Grandmax 4 years ago

Taxing the rich more can be done in different ways. For example, we should try to prevent rich individuals and corporation from shielding their earning in tax havens. I also like very much the concept of consume more, pay more. A higher tax on goods forces people with extravagant taste to pay more. If you can afford a 100 millions yacht. You can pay 20 million of taxes on it.

I must admit your points are good, though. I agree with you to a certain extent.

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Submitted by 7Joce 4 years ago

Well said!