Quote:
Originally Posted by golfing eagles
I guess you didn't fully read the post. THE TOP 1% OF EARNERS RECEIVE 21% OF ALL INCOME BUT PAY 40% OF ALL INCOME TAX. This is grossly UNFAIR. They are paying DOUBLE the percentage of what they earn. Do they receive double the services from the government? NO, instead they are being forced into playing Robin Hood for those that produce NOTHING other than to suck off the government (meaning our) teat.
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Right after WW2 the top income tax bracket paid out about 70% to 80% before deductions. Today, I think the top marginal bracket is 37% for over about 1/2 of a million. The AVERAGE person making over 1/2 of a million pays 26%. It is correct that the 1% got 22% of the nation's income, but paid out 42% of the taxes.
........Now to the question of is this FAIR? Many people in the 1% bracket don't work for the money - it is the power and prestige. One famous hedge fund manager NEVER has time to spend his money (he has people for that). He LOVES the thrill of MAKING money so much that it takes up 100% of his time. The government could tax him at a rate of 99% and he would NOT care - it is the fame and power for him.
........now to the 22% of nations income and 42% of the US taxes. Certainly, the super-rich require more Police time to prevent theft. The super-rich also need to BE Policed closely in order to prevent the Bernie Madoff types. So, that costs society. I will have to contemplate that fairness argument further and later.