Is 39% tax rate for wealthy really fair?

[Anonymous]

Keep in mind that if you are a partner in a partnership (like a law firm) that has office in multiple states, you pay taxes in each of those states.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am a democrat, but I'm not sure I understand the justification of the wealthy paying such a high tax rate. Can someone explain this to me? We are middle class and pay about 12%. It seems like 39% is quite high, even for the wealthy. This seems like more than their fair share. What am I missing?

I'm in that bracket...and a Republican. However you may be surprised by my answer:

You're not missing anything. Instead of using "unfair" I'll just say that is is not proportionate.

I don't mind paying more taxes - I can afford to do it, and we ought to do it b/c the country needs help.

However - what I bristle at is that people who pay nothing, get to criticize me for "not paying my fair share". In that regard it probably is just semantics, but if you're paying zero and I'm paying more than zero, how do you get to criticize? I think Mr. Obama should have made everyone pay something even if it means "$100" as a token below a certain income level. While it may not cure the debt problem we have, the "token" amount will make people like me more willing to pay a disproportionate amount of taxes.

Taxes aren't even the problem - it's a spending problem. Even if we all pay what we're supposed to pay - it's less than a ladle-full of water in a bucket. We need to reduce spending in order to close the gap.

Who are the people who "pay nothing", I'm curious. (Hint: payroll and sales taxes are "tax")

Hint: payroll and sales taxes contribute basically nothing to education, to healthcare, to roads, to defense, to foreign assistance, to the common good...people who don't pay income taxes don't pay the taxes that build this country. And it is indeed worrying that over 50% adults in the US pay no income tax. That doesn't happen in any European country, where the vast majority does pay income tax.

[Anonymous]

Anonymous wrote:
Anonymous wrote:
I am a democrat, but I'm not sure I understand the justification of the wealthy paying such a high tax rate. Can someone explain this to me? We are middle class and pay about 12%. It seems like 39% is quite high, even for the wealthy. This seems like more than their fair share. What am I missing?


I'm in that bracket...and a Republican. However you may be surprised by my answer:

You're not missing anything. Instead of using "unfair" I'll just say that is is not proportionate.

I don't mind paying more taxes - I can afford to do it, and we ought to do it b/c the country needs help.

However - what I bristle at is that people who pay nothing, get to criticize me for "not paying my fair share". In that regard it probably is just semantics, but if you're paying zero and I'm paying more than zero, how do you get to criticize? I think Mr. Obama should have made everyone pay something even if it means "$100" as a token below a certain income level. While it may not cure the debt problem we have, the "token" amount will make people like me more willing to pay a disproportionate amount of taxes.

Taxes aren't even the problem - it's a spending problem. Even if we all pay what we're supposed to pay - it's less than a ladle-full of water in a bucket. We need to reduce spending in order to close the gap.


Who are the people who "pay nothing", I'm curious. (Hint: payroll and sales taxes are "tax")


Hint: payroll and sales taxes contribute basically nothing to education, to healthcare, to roads, to defense, to foreign assistance, to the common good...people who don't pay income taxes don't pay the taxes that build this country. And it is indeed worrying that over 50% adults in the US pay no income tax. That doesn't happen in any European country, where the vast majority does pay income tax.

Yes we should have a SAHM tax, a tax for students, and those old people lets get them taxed up.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am a democrat, but I'm not sure I understand the justification of the wealthy paying such a high tax rate. Can someone explain this to me? We are middle class and pay about 12%. It seems like 39% is quite high, even for the wealthy. This seems like more than their fair share. What am I missing?

I'm in that bracket...and a Republican. However you may be surprised by my answer:

You're not missing anything. Instead of using "unfair" I'll just say that is is not proportionate.

I don't mind paying more taxes - I can afford to do it, and we ought to do it b/c the country needs help.

However - what I bristle at is that people who pay nothing, get to criticize me for "not paying my fair share". In that regard it probably is just semantics, but if you're paying zero and I'm paying more than zero, how do you get to criticize? I think Mr. Obama should have made everyone pay something even if it means "$100" as a token below a certain income level. While it may not cure the debt problem we have, the "token" amount will make people like me more willing to pay a disproportionate amount of taxes.

Taxes aren't even the problem - it's a spending problem. Even if we all pay what we're supposed to pay - it's less than a ladle-full of water in a bucket. We need to reduce spending in order to close the gap.

Who are the people who "pay nothing", I'm curious. (Hint: payroll and sales taxes are "tax")

Hint: payroll and sales taxes contribute basically nothing to education, to healthcare, to roads, to defense, to foreign assistance, to the common good...people who don't pay income taxes don't pay the taxes that build this country. And it is indeed worrying that over 50% adults in the US pay no income tax. That doesn't happen in any European country, where the vast majority does pay income tax.

How can you say that. Payroll taxes fund Medicare. And nobody's income tax pays for education, property taxes do. Property taxes are paid by property owners and ithrough rents collected by renters, so basically everyone. And pretty much everywhere Sales Tax goes into a state or locality's general fund, so it absolutely goes to the common good, including state and local roads which gets to another point.

So all you have left is defense and foreign aid. Maybe we should think about cutting that. Stop paying the bills for the defense of other countries.

[Anonymous]

I still think a minimum 50% is fair for high wage earners with no deductions. They make SOO much more than the average American that even if you taxed them at 50% or even 55% they'll still be far to the right the bell curve in terms of income. Especially for people who don't "Create stuff". You build a company that manufactures things and you sell it, you deserve a bit of a lower rate, but all these, lawyers and investment guys who just suck the life out of this country should have to put some air back into our sails at tax time.

[Anonymous]

It might surprise some of you to know that in the 'old days" and even now that state and local taxes are the major source of income for schools, roads, etc. Doesn't it seem like that is the way it should be?

[Anonymous]

I still think a minimum 50% is fair for high wage earners with no deductions. They make SOO much more than the average American that even if you taxed them at 50% or even 55% they'll still be far to the right the bell curve in terms of income. Especially for people who don't "Create stuff". You build a company that manufactures things and you sell it, you deserve a bit of a lower rate, but all these, lawyers and investment guys who just suck the life out of this country should have to put some air back into our sails at tax time.

Once again, I am dumbfounded that anyone believes that they have the right to determine how much someone should be able to make and in this case determine the worth of someone's work. Doctors don't "create" anything, so therefore, under your scenario, they should not be able to earn commensurate with their education and value to society. I guess you believe that someone like yourself, has the right to determine the value of one's contribution to society. Damn, you people are frightening.

[Anonymous]

You build a company that manufactures things and you sell it, you deserve a bit of a lower rate, but all these, lawyers and investment guys who just suck the life out of this country should have to put some air back into our sails at tax time.

Take a look at the percentage of the total taxes paid by these "guys who just suck the life out of the country" and you will see that they are more than putting air in the sails at tax time. Geez. Jealous much?

[Anonymous]

Anonymous wrote:

I still think a minimum 50% is fair for high wage earners with no deductions. They make SOO much more than the average American that even if you taxed them at 50% or even 55% they'll still be far to the right the bell curve in terms of income. Especially for people who don't "Create stuff". You build a company that manufactures things and you sell it, you deserve a bit of a lower rate, but all these, lawyers and investment guys who just suck the life out of this country should have to put some air back into our sails at tax time.

Once again, I am dumbfounded that anyone believes that they have the right to determine how much someone should be able to make and in this case determine the worth of someone's work. Doctors don't "create" anything, so therefore, under your scenario, they should not be able to earn commensurate with their education and value to society. I guess you believe that someone like yourself, has the right to determine the value of one's contribution to society. Damn, you people are frightening.

No what is frightening is the fact that 'you people' can take so much and give back so little. If you make $1m and you pay 50 or even 58% (Fed + state) in taxes you still have $500k in walking around money. That's 10x more than the average household. That is unfair.

[Anonymous]

Anonymous wrote:Yes, it's fair.
It's much lower than it was decades ago.

I am sorry this is not really true -- you need to look at the extensive use of tax shelters which are frankly unimaginable today to anyone familiar with pre 1986 tax strategy.

[Anonymous]

That is unfair.

I am sorry but I just don't see how this is unfair. I grew up dirt poor. I worked my ass off to get an education and spent another 25 years working my ass off to get where I am at today. It isn't up to you or anyone (besides my employer) to determine my worth and contribution to my company--or for that matter anyone's employment value. I pay my taxes, I support a number of elderly relatives (which would otherwise be on the public dole) and contribute to charity. I don't owe you or anyone else 50% of my income. Crying "unfair" makes you sound like a immature child.

[Anonymous]

The federal government is set to bring in more tax revenue than has ever been collected in this country. The majority of that money is coming from the 1%. Look at the actual numbers regarding collections.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am a democrat, but I'm not sure I understand the justification of the wealthy paying such a high tax rate. Can someone explain this to me? We are middle class and pay about 12%. It seems like 39% is quite high, even for the wealthy. This seems like more than their fair share. What am I missing?

I'm in that bracket...and a Republican. However you may be surprised by my answer:

You're not missing anything. Instead of using "unfair" I'll just say that is is not proportionate.

I don't mind paying more taxes - I can afford to do it, and we ought to do it b/c the country needs help.

However - what I bristle at is that people who pay nothing, get to criticize me for "not paying my fair share". In that regard it probably is just semantics, but if you're paying zero and I'm paying more than zero, how do you get to criticize? I think Mr. Obama should have made everyone pay something even if it means "$100" as a token below a certain income level. While it may not cure the debt problem we have, the "token" amount will make people like me more willing to pay a disproportionate amount of taxes.

Taxes aren't even the problem - it's a spending problem. Even if we all pay what we're supposed to pay - it's less than a ladle-full of water in a bucket. We need to reduce spending in order to close the gap.

You are not including the lack of tax credits and limits on deductions plus the extra paid for Obama medicare 3.8%. Those refundable credits are greater than the employee contribution or the employee/employer contribution for social security. Also high earners will have higher premiums for medicare etc.

That 39% is deceptive - the number is really higher in total paid since that is only looking at the marginal rate.

Who are the people who "pay nothing", I'm curious. (Hint: payroll and sales taxes are "tax")

Hint: payroll and sales taxes contribute basically nothing to education, to healthcare, to roads, to defense, to foreign assistance, to the common good...people who don't pay income taxes don't pay the taxes that build this country. And it is indeed worrying that over 50% adults in the US pay no income tax. That doesn't happen in any European country, where the vast majority does pay income tax.

How can you say that. Payroll taxes fund Medicare. And nobody's income tax pays for education, property taxes do. Property taxes are paid by property owners and ithrough rents collected by renters, so basically everyone. And pretty much everywhere Sales Tax goes into a state or locality's general fund, so it absolutely goes to the common good, including state and local roads which gets to another point.

So all you have left is defense and foreign aid. Maybe we should think about cutting that. Stop paying the bills for the defense of other countries.

[Anonymous]

Anonymous wrote:

That is unfair.

I am sorry but I just don't see how this is unfair. I grew up dirt poor. I worked my ass off to get an education and spent another 25 years working my ass off to get where I am at today. It isn't up to you or anyone (besides my employer) to determine my worth and contribution to my company--or for that matter anyone's employment value. I pay my taxes, I support a number of elderly relatives (which would otherwise be on the public dole) and contribute to charity. I don't owe you or anyone else 50% of my income. Crying "unfair" makes you sound like a immature child.

All of those things that make it possible for you to rise up and enjoy this lifestyle comes from the hard work of the underpriviliged that work to make this country great. That pick the fresh tomatoes, that build the roads and buildings, that drive the buses and trucks etc. The nameless faceless people who really helped you create your lifestyle but will never share in the fruits. If the wealthy think it sucks so bad here they should move overseas and see how tough things are here. Patriotism also means paying your fair share to keep this country great. 50% for people making $500 is not unreasonable and you know it. Stop spending your money on unreasonable things and live simply.

[Anonymous]

Spoken like someone who doesn't pay 50% in taxes....or anywhere near that. It is always easy to give away the fruits of someone else's labor.