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No the middle class does not. The rich pay nearly all taxes.
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The top 1% pay nearly 40% of all taxes. And the top 25% pay nearly 90% of all taxes.
The middle class barely pays hardly any taxes. And the bottom 50% pays almost none.
The problem here is you are comparing 2 different sets of revenue which are taxed differently. Capital gains is taxed at a lower rate to incentivize investment which is good for the economy, and thus wage earners. We can have a discussion about whether the CG tax is too high or low but it's not treated the same as the income tax for a reason.While it is true the poor pay little if any taxes, it is also true the wealthy tend to pay less tax % than the middle class.
There are so many exemptions and loopholes for the very wealthy, it would be foolish for them to pay more than the 20% capital gains rate.
While the middle class usually pays more than 20%.
Without the "wealthy elite" business owners the employees wouldnt produce anything and why arent you taking it the next logical step that the employees arent actually paying the tax revenue it's the consumer.... We can play this silly game all day.Wrong.
First of all, your graph is useless because it included homeless, mothers, children, etc. who traditionally never worked and should not be included in the graph at all.
Second is that the wealthy elite actually produce nothing, and it is really their employees and customers who pay all their taxes for them.
Depends. Taxation is not theft.
Employees cannot produce anything until a capitalist invests money to create a job for themWrong.
First of all, your graph is useless because it included homeless, mothers, children, etc. who traditionally never worked and should not be included in the graph at all.
Second is that the wealthy elite actually produce nothing, and it is really their employees and customers who pay all their taxes for them.
The problem here is you are comparing 2 different sets of revenue which are taxed differently. Capital gains is taxed at a lower rate to incentivize investment which is good for the economy, and thus wage earners. We can have a discussion about whether the CG tax is too high or low but it's not treated the same as the income tax for a reason.
1, Wages
2, Investment earnings
Without the "wealthy elite" business owners the employees wouldnt produce anything and why arent you taking it the next logical step that the employees arent actually paying the tax revenue it's the consumer.... We can play this silly game all day.
Employees cannot produce anything until a capitalist invests money to create a job for them
Our society needs both
The leftwing inspired class warfare is harmful for both sides
More like $12.40. The other $7.20 is taken out before the employee earns it. The employee is paid less, to cover the taxes.A guy who works for a living and earns $100 pays $7.50 for Medicare and SS.
A guy who is a capitalist earns $100 and pays exactly zero for SS and Medicare.
Off the top the capitalist gets a 7.5% tax break.
FOR NOT WORKING
Risk you say?
Guy works 2 weeks at a restaurant then waits a week to finally be paid.
Same guy buys lunch at work and pays out of pocket
Employer takes 2 weeks of labor, gets paid for 10 meals and puts out nothing.
Risk you say?
Its interesting to note that the two so often are the same thingThe private capitalist only invest in what they want to make the most money for them, not what is best for society.
Losing money for the sake of lib ego building is not good economic policyThat is why the rest of the world has high speed rail and we don't.
What's stopping workers from creating these companies and having all employees share all the profits right now? What about our current system keeps them from doing that? Since they are the ones doing all the work and the elite business owner is just there to collect the bags of cash....Wrong.
If we had more socialism, then society could collectively come up with the necessary investment capital to build the means of production we all need and want.
So then there would be no need for the wealthy elite to leech off of society any more.
It does not make a difference if it is the workers or customers who are actually paying, the point is the wealthy elite are not, and are just leeching off the rest of us by pretending their capital is so valuable.
The point is that wealthy people can easily and do pay lower tax %'s than the working middle class that does not have the same advantages.
Any wealthy person can have their corporation pay them in stock options instead of a cash salary, so that they can pay the lower capital gains rate in what essentially is legal fraud.
Any wealthy person can invest in rental property so they get the huge depreciation tax exemption.
If you actually believe that, then how do you explain the fact that your plan has never worked in all human history?Wrong.
If we had more socialism, then society could collectively come up with the necessary investment capital to build the means of production we all need and want.
So then there would be no need for the wealthy elite to leech off of society any more.
It does not make a difference if it is the workers or customers who are actually paying, the point is the wealthy elite are not, and are just leeching off the rest of us by pretending their capital is so valuable.
Wrong.
The private capitalist only invest in what they want to make the most money for them, not what is best for society.
That is why the rest of the world has high speed rail and we don't.
That is why the rest of the world has public health care and we don't.
That is why the rest of the world does not start wars, and we do.
The leftwing inspired class warfare is wonderful because it leads to much more efficient socialism that we desperately need as we are running out of resources like fossil fuel.
Actually no on public schools. Public schools are way over priced, and absolutely terrible. They are making stupid kids that can't function productively in society.Wrong.
Taxation is what we all want and vote for, like defense, safety, fire fighting, utilities, public schools, transportation systems, etc.
These things benefit us all and are well worth the investment.
The graph is fine, and accurate, and valid.Wrong.
First of all, your graph is useless because it included homeless, mothers, children, etc. who traditionally never worked and should not be included in the graph at all.
Second is that the wealthy elite actually produce nothing, and it is really their employees and customers who pay all their taxes for them.
That is the dumbest thing I've ever heard.Taxation is not theft when it is beneficial, like for public schools, transportation, defense, etc.
But taxation can be theft and is when it is to invade Iraq to raise TX oil profits.
It rebuts the theme "the poor don't pay taxes," because they certainly do.Ok but that's not what's being discussed here so that seems rather irrelevant.
Not saying this is the case now, but sometimes an argument can be made that cutting taxes can stimulate new production that result in higher tax revenue.
