Skull Pilot
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- Nov 17, 2007
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- #601
and 8.4% is currently lower than the lowest 10% bracket
And 8.4% wouldn't be revenue neutral. The top quintile pays 84% of income taxes. And pay at a rate of 21% on average.
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How then does cutting their rate to roughly 1/3 or its current rate result in a revenue neutral position?
Explain the math to us. Using the *actual* tax distribution. Not the imaginary one you made up.
I didn't make up anything idiot I used the total income and the total tax collected under the current system to arrive at the rate on all income that would yield the same revenue as the current system did
it's not that complicated
for the year used in the graphic the total income was 13.7 Trillion the tax collected was 1.26 trillion or about 9% of all income
so for that year a flat tax of 9% would have resulted in the government collecting the exact same revenue as it did under the current system
IOW revenue neutral
With massive tax increases on people with children also.
SO what?
Why should a person with no kids and the exact same income as a person with kids pay more in taxes?
Well, I've been on the wrong end of that all my adult life so I have every personal reason imaginable to agree but I would say that as an argument for it, to some extent at least,
a household of, say, five, with one income coming in, with 4 legal dependents, could logically classify as one income divided by 5.
50,000 a year for 5 people translates to 10,000 each, which puts each in the lowest bracket.
No people who earn no income pay no income tax
Dependents earn no income only the parents do therefore only the parents pay any child who work part time while in school will pay the same flat income tax his parents pay