Quote:
Originally posted by m21sniper
This is probably because the middle class pays SO LITTLE of the US income tax, whereas the upper classes pay the vast majority of it.
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If true, who cares?
Quote:
Originally posted by m21sniper
The bottom 50% of earners pay a whooping 5% of the national income tax.
Answer: They can't.
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again who cares?
Lets talk only fed payroll tax no deductions or dependents, just to keep it simple
$70k earner will have ~$24k in taxes taken form his pay ~34.3%
$300k earner will have ~$83k taken from his pay ~31.6%
These are the effective rates 34.3% vs 31.6%. Now consider that the first $20k is necessary just to put food on the table and a home to put the table in, Doesn't leave much for fun stuff or heaven forbid savings and investments does it.
A huge part of the reason many have no savings is explained by the tax rate inequity.
There is class warfare in this country and it is being successfully waged by the haves against the wanna haves.