[retiredguy123]

Originally Posted by villager7591

Disagree. SS is a personal savings account for each individual paying into it. Signed into law in 1935, shortly after The Great Depression, our Gov't. assumed that citizens were too stupid to save 'for retirement,' so it created SS. If I live long enough, I will get about 1% on MY money.
SS is MY money, not an entitlement.

It's not a personal savings account because there is no money in it. If you think Social Security is not an entitlement, do the math on how the benefits are paid. You may only get 1 percent, but some low income people will get more than 100 percent.

[Haggar]

Originally Posted by villager7591

Disagree. SS is a personal savings account for each individual paying into it. Signed into law in 1935, shortly after The Great Depression, our Gov't. assumed that citizens were too stupid to save 'for retirement,' so it created SS. If I live long enough, I will get about 1% on MY money.
SS is MY money, not an entitlement.

SSA is not a personal savings account. You're not getting back the money you put into it plus an earnings percentage. You're getting back money based on what current workers are putting it.

I've seen an annual rate of return on contributions from 2.4% to 5.7%. Earners with low income get a better return. High earners get a lower return. People who die early don't do well. But live to 102 and the return is wonderful.

[Proveone]

Originally Posted by retiredguy123

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.

Wrong! Fair tax refers to billionaires, who some pay little to no taxes, to some corporations who pay 8 %, when someone who earns $11,000 a year pays 10%. $44,000 to $95,000 pay 22%. Fair tax means billionaires and corporations should pay what the rest of us pay proportionately. The national debt should be paid buy the billionaires, who received tax breaks, and the people who passed the tax breaks. Stop parroting what you hear on unreliable sources.

[coralway]

Originally Posted by MrLonzo

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?

Everyone pays about 35% of their income, irregardless of how much they make - well, except for the top 1%. The top 1% pays zero taxes and they get a $1.9 trillion dollar tax cut because , well, you know. It's called the tinkle down theory.

[golfing eagles]

Originally Posted by Proveone

Wrong! Fair tax refers to billionaires, who some pay little to no taxes, to some corporations who pay 8 %, when someone who earns $11,000 a year pays 10%. $44,000 to $95,000 pay 22%. Fair tax means billionaires and corporations should pay what the rest of us pay proportionately. The national debt should be paid buy the billionaires, who received tax breaks, and the people who passed the tax breaks. Stop parroting what you hear on unreliable sources.

Fair is everybody paying the same rate. Right now the top 10% of earners pay 90% of income taxes. Please tell me how that is "fair".

[golfing eagles]

Originally Posted by coralway

Everyone pays about 35% of their income, irregardless of how much they make - well, except for the top 1%. The top 1% pays zero taxes and they get a $1.9 trillion dollar tax cut because , well, you know. It's called the tinkle down theory.

Total BS

[oneclickplus]

Originally Posted by MrLonzo

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?

trying to delete post but there is no delete button. Carry on.

[opinionist]

We would need a fair money system in order to pay fair taxes. We could use treasury notes as a currency and not pay interest on the debt notes that we are forced to use. The national debt is the product of a dishonest and unfair money system. The debt notes make banker families wealthy beyond reason, and they use that wealth to push more borrowing from their dishonest and unfair money system. Why then do we use debt notes? The Creature from Jekyll Island is a book that tells the story.

[retiredguy123]

Originally Posted by Proveone

Wrong! Fair tax refers to billionaires, who some pay little to no taxes, to some corporations who pay 8 %, when someone who earns $11,000 a year pays 10%. $44,000 to $95,000 pay 22%. Fair tax means billionaires and corporations should pay what the rest of us pay proportionately. The national debt should be paid buy the billionaires, who received tax breaks, and the people who passed the tax breaks. Stop parroting what you hear on unreliable sources.

The OP's question was: "How much is a 'fair share' in dollars?" You didn't answer it.

By the way, someone who earns $11,000 doesn't pay any income tax.

[Caymus]

Originally Posted by coralway

Everyone pays about 35% of their income, irregardless of how much they make - well, except for the top 1%. The top 1% pays zero taxes and they get a $1.9 trillion dollar tax cut because , well, you know. It's called the tinkle down theory.

If true you should be able to post links.

[Bill14564]

Originally Posted by Proveone

Wrong! Fair tax refers to billionaires, who some pay little to no taxes, to some corporations who pay 8 %, when someone who earns $11,000 a year pays 10%. $44,000 to $95,000 pay 22%. Fair tax means billionaires and corporations should pay what the rest of us pay proportionately. The national debt should be paid buy the billionaires, who received tax breaks, and the people who passed the tax breaks. Stop parroting what you hear on unreliable sources.

Someone making $11,000 per year pays $0 in taxes and likely receives check for a tax credit. Stop parroting what you hear on unreliable sources.

[Bill14564]

Originally Posted by coralway

Everyone pays about 35% of their income, irregardless of how much they make - well, except for the top 1%. The top 1% pays zero taxes and they get a $1.9 trillion dollar tax cut because , well, you know. It's called the tinkle down theory.

Woohoo!! I must be special! I don't pay anything close to 35% and I'm sure not in the 1% or receiving a $1.9T tax cut.

[Joe C.]

FAIR SHARE ??

10% of your earned income, no deductions, no write offs.
7% of your savings and investment interest ....no exemptions.

If you make 10 thousand dollars, you pay 1 thousand in tax.
If you make 10 million dollars you pay 100,000 in tax.
What could be fairer than that?

The reason I say 7% on savings and investment is to encourage people to save and invest.

[Shipping up to Boston]

Saw this quote on the internet.....

“The people who are arguing that the rich should pay their ‘fair share’ of taxes, should have paid greater attention in the classes where percent and percentage were taught. There is no such thing as a mathematical ‘fair share’ “

[Stu from NYC]

Originally Posted by Joe C.

FAIR SHARE ??

10% of your earned income, no deductions, no write offs.
7% of your savings and investment interest ....no exemptions.

If you make 10 thousand dollars, you pay 1 thousand in tax.
If you make 10 million dollars you pay 100,000 in tax.
What could be fairer than that?

The reason I say 7% on savings and investment is to encourage people to save and invest.

Not sure if your percentages are correct but do agree with the concept.

Our entire tax system has been corrupted by special interests getting congress to pass bills favoring individuals and businesses.

Govt takes a higher and higher percentage of gnp and go find someone who thinks they spend money efficiently while running huge deficits.