Quote:
Originally Posted by grudk
Two critiques:
1)inflation is running quite a bit higher than gov't figures. Did they use core or CPI?
2) 'Regression to the mean' is a statistical phenomenon for population groups. The widest outlyers tend to gravitate towards the mean over time (the bar graph distribution suggest this). Not really surprising that the poorest and richest incomes swing the most
In regard to taxes, it's true that the wealthy pay much more $ in total, but not as a percentage of total income. They pay less. Warren Buffet has offered $one million to anyone who can prove otherwise
http://money.cnn.com/2007/06/26/news/newsmakers/clinton_buffett/index.htm
I'm a republican, but I think our tax system is grossly unfair to the poor and middle class, esp now with AMT hitting more and more people |
Where are you getting your inflation numbers? CPI usually outruns MPI and most others. The only things filtered from CPI are forms of energy, since they shift quickly. Better to let those filter into the equation in the price of other goods.
Our truely poor pay no income tax, and then are granted a refund of the social security withholdings. So, how is our tax system unfair to the poor?
And to be hit with AMT, you are not a family of 4 earning $40K, you are a single filer earning about $65k with a lot of deductions, or a family earning $125K+ with a lot of deductions.
And the highest rates of our tax system are at the top. The "top" earners who pay less than the full rates are doing so on type of income that have different rates. A person with a higher AGI will pay more in percentage than a person with a lower AGI, when reviewing income tax.
The real problem we have is far to many hidden taxes. Social Security taxes are hidden in the cost of a business having employees. These taxes lead to either higher priced good, lower wages or both. The same can be said for any corporate tax or VAT.