What is a 'fair share'?
 

With regard to taxes, I keep hearing the term 'fair share', but I don't know what that means. How much is a 'fair share' in dollars?

There is no answer to your question.

But, if you want to pay off the national debt, every citizen needs to pay $102,574. To me, that would be fair.

Similar to "Our Entitlement" instead of calling it "Social Security"

Sure there is. It's equal to some phantom amount that will make your constituents drool.

Ya, gonna have to disagree. I didn't ask for them to spend money they didn't have on projects I don't agree with. But I will nonetheless pony up my portion right after you get all the people living paycheck to paycheck to pay theirs.

Same as those that ask for recommendations for services at a reasonable price. There is no answer since "fair share" and "reasonable price" are individual judgements. Also, when talking about Corporate and Business taxes, they are the collectors and pass them downstream to us. Even the Billionaire tax doesn't work, sounds great but the tax code gives them outs. Change the tax code and might have a shot at a fair tax distribution, or a flat tax.....but nothing in it for the politicians so don't hold your breath for either.

I don't know about dollars, but since this thread will probably turn political very quickly, the 2 hours 23 minutes that it has lasted so far is more than a fair share :1rotfl::1rotfl::1rotfl:

Let's start with all the people who didn't pay their fair share by being paid (or paying themselves) "under the table".

The fair share lingo is used by politicians to push for raising taxes on the rich. However when they raise taxes on “the rich” it seems everyone’s taxes go up. But the loopholes the rich have are not changed. So what it really means is an increase in taxes for most of us but not for their rich friends. It’s a shell game and a political phrase of deception.

Shoot them all and let God sort them out! Or something like that!
🤠

And remember the rich can live anywhere they want. Remember Roger Moore? He had to live in Switzerland because Britain charged him so much tax!

Well, we do need to pay for a new pier.

Black Sabbath
 

Listening to BS now!

Agree,
In the UK, they call our State Pensions, "Benefits."
Really annoys me.
Like we're scrounging for a handout.
Like we didn't get taxed 20%+ at least on earnings, more if you worked hard like my dear wife and I, for 40+ years.
Benefits my ****!

:crap2:

You could lower that amount, if you also included non-citizens. They do, after all, contribute heavily to the national debt.

Fair Share...

1. What should the taxes be on any tax-free investments? Like the municipal bonds sold to pay for public projects that benefit everyone. Yes, anyone can purchase tax-free municipal bonds that pay dividends not subject to federal or state income taxes.

2. There are several types of savings for retirement. Pensions, IRAs, Roth IRAs, 401K, and Roth 401K.

Many of you know that Roth IRAs and Roth 401K can have cash, bonds, and or other investments that can grow, and none of the withdrawals are subject to taxes, state or federal.

These are open to almost everyone who want to save for retirement.

So...if one has all their savings in a Roth fund, how much should they pay in taxes? At what value should holder be considered "rich"?

Everyone has the opportunity to work hard, save, and live within their means.

Everyone!

Who are the rich? Have you seen the stats on what constitutes the top 5%? Top 1%? I’ll bet the majority in TV are in the top 5% if not the top 1%. The majority of 65 year olds can’t afford to pay for a $1000 emergency.
But that’s not my fault and the people that worked and worked hard for the majority of their lives should not have to be penalized by paying the majority of the taxes.
Social security is not a benefit because we all contributed to it growing up. It was not an option for me and if it was, I would have funded my own retirement fund.

In the past there was a flat percentage that was floated that everyone should pay.
The problem with this and many other ideas is the write offs.
By the time the slick lawyers and the savvy accountant step in the wealthy will not only not pay their fair share, but the taxpayers will also even subsidies them.

it is a political buzzword....would they ever close the tax loopholes, that the politicians use themselves? never.....it is also a scheme that the politicians use to divide people.....so called "rich". vs not rich. people look at the division in this country, and fail to look at the politicians, who are the ones who cause it

Political question.

Politics will answer.

:mornincoffee:

"Render to Caesar what is Caesar's..." - God

"Stupid is as stupid does." - Forrest Gump

So what is "fair share"?

The answer lies between the One that doesn't promise "fair"
and the other that suggests that actions have consequences; somewhere in between the wisdom and guides of these two geniuses.

Very few homeowners in The Villages would pay a penny of this “fair share.” It won’t get passed anyway, but even if it did, almost certainly you don’t have enough income for it to affect you, so don’t worry about it. It would affect Gary Morse’s three kids (in their sixties), but do they even live here? The dollar amount depends on their income.

Fair share
 

Start paying then

I care about about the national debt, as much as the politicians care about the national debt......they could care less about it, cuz they keep doing it......and I could care less about it also

9% of your income

In the US, its a political term justifying redistribution of wealth. It's a concept not an amount. The basic premise is life is not fair until will are equally poor.

I have been paying 10% Federal tax on my adjusted gross income for a number of years. I do not feel that 10% is extreme.

:1rotfl::1rotfl:

That would generate less than 50% of the current tax revenue.

Good Luck balancing that budget.

You forget people already paid taxes at the time of conversion. You make it sound tax free, only what you earn on the investment is.

A fair share is a more evenly distributed tax based on percentages of one’s earnings. However, some elected politicians Re-define far share based on wealth of individuals and not earnings, which would present its own set of problems.

I guess I was half right----the thread has turned political, yet it lives on.......

Or only half wrong!

The IRS is a private corporation, registered in P.R. The funds are transfered to the crown-City of London & the Vatican Bank. We get a very small portion of those fund collected by the collection agency. Let's audit the IRS then we can talk. United we are strong-Divided we are weak.

Good luck with all that! The most radical financial indicators of taxation on wealth is the “plan” Senator Warren had proposed “ tax earnings on IRA’s - unrealized “ as a way to “make them pay” their fair share. Dems will eventually destroy this nation.

............and here we go! :boom:

Social Security is not an entitlement.

Actually it is...........by definition.

Some people are offended by the word, but it's accurate and correct.

So how many people do you think have $103,000 lying around to pay for wasteful spending? Hope you were joking?

Social Security is a cleverly disguised wealth transfer system. If it were optional, it would disappear.

Fair share
 

Except the ruling class, of course.

Fair share
 

Even if we all paid it, the politicians would just do it again.