Why is This Wrong?

[Anonymous]

Doesn't it make sense that if you make more money, you are going to pay more in taxes?" Why is this an issue with so many wealthy people? Obviously the more money you make the more you will owe just because you are paying taxes on a larger amount of money.

And why do middle class Republicans, people making under $100,000, think that the Republicans are saving their wealth? You aren't saving money unless you are a millionaire. Republicans do nothing for you if you do not make a ton of money.

[Anonymous]

Your argument makes sense if you are looking at a flat tax.

However, we have a graduated tax system, and the Democrats want to increase the PERCENTAGE of tax on the higher wage earners. This means in some very blue states like NY, you can actually pay more than 50% combined state and federal income taxes.

Now I don't know about you but for me, working and earning a dollar and then giving half of it to the government so they can give it to someone more worthy by virtue of the fact they earn less income is not my cup of tea.

[Anonymous]

Because the Republicans are adept at cloaking themselves in the mantle of social conservatism, which lately has trumped economic issues for many blue collar constituents. If people are distracted and worked into a lather over gay rights, or abortion, or whatever, they aren't as likely to notice that the actual policies implemented by their party are detrimental to them. Sort of bread and circus I think. I mean do you really think that Karl Rove or Dick Cheney, or George Bush give a hoot one way or the other about gay rights or abortion? Not as long as it doesn't interfere with their agenda.

[Anonymous]

Anonymous wrote:Your argument makes sense if you are looking at a flat tax.

However, we have a graduated tax system, and the Democrats want to increase the PERCENTAGE of tax on the higher wage earners. This means in some very blue states like NY, you can actually pay more than 50% combined state and federal income taxes.

Now I don't know about you but for me, working and earning a dollar and then giving half of it to the government so they can give it to someone more worthy by virtue of the fact they earn less income is not my cup of tea.

Not exactly. The effective tax rate for wealthy individuals is less than that of average people. So despite the graduated tax system, the effect is that the wealthy pay less taxes as a proportion of income. We also contribute less as a percentage of income to charity.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Your argument makes sense if you are looking at a flat tax.

However, we have a graduated tax system, and the Democrats want to increase the PERCENTAGE of tax on the higher wage earners. This means in some very blue states like NY, you can actually pay more than 50% combined state and federal income taxes.

Now I don't know about you but for me, working and earning a dollar and then giving half of it to the government so they can give it to someone more worthy by virtue of the fact they earn less income is not my cup of tea.

Not exactly. The effective tax rate for wealthy individuals is less than that of average people. So despite the graduated tax system, the effect is that the wealthy pay less taxes as a proportion of income. We also contribute less as a percentage of income to charity.

I think you are referring to wealthy, as in substantial portfolios / trust funds, etc. Their income is primary capital gains (unearned income), which is taxed (and has been for decades) lower than income taxes. You are right, THEY pay lower taxes as a percentage of income than middle class workers.

I am referring to people like myself, 25+ years out of college, hitting peak earning years with children in college (paying full freight, no loans/aid), who are being told "you are a rich, wealth person, and your EARNED INCOME will be taxed higher as a penalty for your achievement. My portfolio is nothing to get excited about, believe me, especially this week