NYcarbineer
Diamond Member
So, we all know that the rich pay income tax, and the poor do NOT pay income tax. The rich also pay higher payroll taxes than the poor or middle, simply because they earn more.
But Obama's Class War is about capital gains, which the rich pay a much smaller rate on.
Which led me to ask...........what % do poor people pay on their capital gains????????????
Oh. They don't pay capital gains taxes....do they?
So it has NOTHING to do with fairness, as poor people don't have capital gains, thus, the rich can't have a rate lower than someone who doesn't pay it at all.
So this is ONLY about greed. About wanting more of other peoples money. Has NOTHING to do with fairness or equality.
Unless you show me the folks in the ghetto who pay capital gains tax rates higher than a rich person.
The effective payroll tax rate on the lowest income quintile of households is 8.8%
The effective payroll tax rate on the highest income household?
5.7%
Historical Effective Federal Tax Rates for All Households