Reply to Let Lower Income "Pay Their Fair Share"!

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]You neglected to state that the very top really don't pay their fair share via loopholes and tax deductions, which the lower/middle income folks never get to use.  Sure, they pay a lot in taxes, but that's because they make a lot. But, if they only pay 10% in taxes, and middle/upper are paying 30%, then that's not fair is it?

But, I agree with you in that the middle and upper/middle are the only groups probably paying their "fair share".

If we got rid of all the loopholes, then I might agree with you.[/quote]

OP here. I agree that there should be a minimum for the very top. I thought the AMT (don't know much about that.....never impacted me) was supposed to take care of that. I have no problem phasing out loopholes for those at the top, and requiring a "floor" percentage of 25% or thereabouts. (Many middle class don't pay 30% - that's the top marginal rate but the actual percentage paid is less.)[/quote]

Have you not read the news lately? Donald Trump apparently has paid 0% in federal taxes for possibly up to almost 2 decades. Then there was Romney who paid around 13% since his income was from capital gains and not income per se. Capital gains really are income and many of the really rich get their income this way.

Then don't forget that many of rich have made a lot of their money off the backs of the poor like the Waltons. I certainly think the uber wealthy can pay more in taxes especially in light of historically low income taxes for the rich.

At the very least we can go back to what the income tax and capital gains taxes were under Clinton to start to right things. Then we could add more income tax brackets since the top tax bracket stops at around $400,000.00 and something. I really think there should be tax brackets for a million dollars (or a couple of million) per year and with small incremental reasonable increases on up. Loop holes should be cut as well.

People forget that in the 1960s the top income tax bracket was 70% and our country was doing well inclduing both the middle class and the rich. I am not suggesting a 70% tax bracket but we certainly can stand to go up in the tax rate for the uber rich especially in light that the top 1% or so hold most the wealth in this country.

As for the poor, you do realize that there are many folks who are barely scraping by even with working full time due to crappy minimum wages.I think below a certain point they should not have to pay federal taxes but remember they still pay sales taxes, medicare and social security taxes too.[/quote]

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