Quote:
Originally Posted by golfing eagles
Want to bet? How about this------you pay the taxes of the average billionaire and they'll be happy to pay yours. After all, most of them pay more taxes in 1 year than you earned in a lifetime.
The average billionaire paid 8.2% of their income in federal income tax, which is criticized as "low". But much of their income is in capital gains, and many of their deductions related to venture capital, which produces jobs for the rest of us. So, let's say a billionaire earns $100 million in a year---that's $8,200,000 in tax----more than the average lifetime earning of most of us. So much for the "fair share' idiocy.
Also, the top 1% of income earners, those over $540,000/year earn 21% of all income but pay 40% of all income tax---how is that fair??????
|
From after WW2 until about 1975 the US middle class was strong and had wealth. The top 10% were taxed heavily. In about 1975 outsourcing began, Unions began losing members, and total jobs and wealth for the middle class started to drop. So, basically, the upper class gained power as the middle class lost power.
.......Then about 2005 or so, the tax tables were set up to somewhat advantage the rich. Then about 2018 tax tables were set up to GREATLY advantage the rich.