Posted on Sep 20, 2016
Analysis: By 2025, 99.6% of Paul Ryan’s tax cuts would go to the richest 1% of Americans
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Posted 8 y ago
Responses: 4
It's also important to note that 45% of Americans pay NO Federal income tax. They're not likely to benefit from ANY tax cuts. I wish we'd get away from this income, and politically based tax scheme. It's totally arbitrary, politically motivated, and punitive. It also has the benefit of having absolutely NO relation to spending. Clearly, Taxes don't exist to pay the expenses of government. If they did, then spending and revenue would have to align. Serial Congress', along with serial Presidents have sold us down the river to the tune of $19 Trillion in debt. Time for some real change. My opinion, humbly submitted. http://www.fairtax.org
Pass the FAIRtax | FAIRtax.org
FAIRtax.org | Pass the FAIRtax
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Mathematically speaking, MOST taxes are paid by the highest payers. Therefore when you create tax cuts they are going to affect the rich first.
In 2015, the Median HOUSEHOLD income (US Census) was $56K.
https://www.census.gov/content/dam/Census/library/publications/2016/demo/p60-256.pdf
Start running the math from there. The upper quartile (Household) starts at $75-80k. Strictly speaking, those below $80k don't pay "revenue generating income" (it affects us, but it doesn't affect the budget). We're "insignificant" when it comes to the BUDGET. It's the upper 25% (and really the upper 10% [5%] and corporate taxes) that matters.
"Income disparity" is a bad way to frame the narrative when it comes to taxation. Just because someone makes more doesn't mean they should pay more % wise.
In 2015, the Median HOUSEHOLD income (US Census) was $56K.
https://www.census.gov/content/dam/Census/library/publications/2016/demo/p60-256.pdf
Start running the math from there. The upper quartile (Household) starts at $75-80k. Strictly speaking, those below $80k don't pay "revenue generating income" (it affects us, but it doesn't affect the budget). We're "insignificant" when it comes to the BUDGET. It's the upper 25% (and really the upper 10% [5%] and corporate taxes) that matters.
"Income disparity" is a bad way to frame the narrative when it comes to taxation. Just because someone makes more doesn't mean they should pay more % wise.
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