Who Isn’t Paying Their Fair Share?1
November 18, 2014 by JImbo
CBO Study Shows Rich Pay Nearly EVERYONE’S Taxes, not just their “Fair Share”
(via the American Enterprise Institute)
It’s actually a very interesting if short article. All you really need is this graph though:
The US population split into 20% “quintiles” based on income.
Second $15,501- $29,600
Highest $234,000 Plus
A -35% tax rate for the working poor is basically the government GIVING YOU 35% more cash and benefits when you file your taxes (earned income credits, food stamps, etc)
Can we PLEASE shut up with this “fair share” crap?
How about we simply go to the Flat Tax or the Fair Tax?
No deductions and fancy accounting loopholes.
Just a flat 20% tax rate AFTER the first $20,000.
It’ll fit on a post card.
We wouldn’t need the IRS either.
That’d save us a few billions dollars (making our taxes even CHEAPER!)
Anyone with half a brain knows that the poor,including working poor, pay no taxes. But what about SS & State Witholding, we all pay that. The poorist are subsidised by the children they have. Sometimes up to 30% of there gross income. The rich pay most income taxes.
People should be informed more.