Quote:
Originally Posted by OrangeBlossomBaby
If high income people were only allowed to take the same standard deduction that lower income people had to take, then that'd be fair, right? No more itemizing, no more tax breaks, no more write-offs. Standard deduction for everyone. And you pay the same tax rate on the net income after that deduction.
Problem is, that means the ultra-high income folks would actually have to pay taxes. Right now they can itemize enough that they pay no income tax at all.
The ultra-low income also pay no income tax, or they end up with a full refund on what they've paid.
Everyone else pays to cover the ultra-low income AND the ultra-high income, both of whom pay no income tax. The ultra-low can't afford to pay it. The ultra-high income can afford it, but prefer to place the burden on everyone in the middle, including low (but not ultra-low) income people.
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SO the "ultra-high income" folks don't pay taxes because they itemize?
Yes, they do get some breaks, BUT they also pay the majority of the income revenue going into the treasury that pays for all the benefits that the low income folks enjoy.
Do you realize that a lot of middle income level folks pay NO income taxes if they are a family of four? As a matter of fact, I know of one couple in the villages that has an income of over $70K a year and legally pays NO income tax.
Personally, I believe taxing any group of folks in America at a higher rate than anyone else should be a Constitutional violation regarding discrimination.