IbrahimFahim
Well-Known Member
Posted by Ar Cosc:
"And your refusal to tax the rich an appropriate amount has left your country in not much better of a state."
According to the IRS:
1. The top 1% of Americas income-earners, those making over $380 K a year, generate 20% of all personal income and pay 38% of all federal income taxes.
2. Those making over $113 K a year earn 46% of total personal income and pay 70% of all taxes.
3. The remaining tax paying public make 54% of total personal income and pay only 30% of all federal taxes.
Where do your numbers come from? They appear unreliable. A recent study on wealth inequality was conducted by individuals from Harvard Business School and Duke University, that concluded that the top quintile owned 85% of the wealth in the country, a disparity that unsurprisingly most Americans were completely unaware of. Their study is short, I recommend the read.
Building a Better America One Wealth Quintile at a Time
In addition, the Tax Foundation has recently calculated that the portion of US Federal tax returns submitted by those who have NO tax liabiilty is now more than 35% of returns filed.
The rich deserve to be able to keep the wealth they have worked for and accumlated just as everyone else. Unless one is of the mindset that "the Rich" are all evil and appropriated all of their wealth on the backs of and at the expense of "the poor", which apparently you do.
It is hardly unreasonable to allow a redistribution of wealth through the tax system to create a minimum level of wealth and thereby create a more just society. A floor that no man's income could drop below would be preferable from a stability point of view. This has been proposed as an alternative to welfare. This is neither socialist, communist, Marxist, though it is very Progressive in outlook.
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I need the constructive criticism.