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]

[b]Everyone complains about "loopholes" yet no one can cite one. A loophole is, by definition, an unintended benefit. Deductions?  Which would you get rid of?[/b]  Solid tax policy would say get rid of all deductions for no revenue producing expenses. Otherwise, it's just a give away in the form of a tax subsidy. But I hear the hew and cry when people are faced with losing a mortgage interest deduction or child care credit.

What specifically would you want to see eliminated that would have a broad impact on the wealthy/UMC and would bring in more than a token amount of revenue?[/quote]

Trump is a perfect example. After bankruptcy he gets to pay no fed taxes for 18 years, despite being filthy rich.

I'm only middle class, so I wouldn't be able to enumerate all, but a simple Google search gets plenty of articles covering this topic.

http://www.bankrate.com/finance/taxes/tax-deductions-favor-rich-1.aspx

https://www.washingtonpost.com/news/wonk/wp/2015/04/09/the-rich-get-government-handouts-just-like-the-poor-here-are-10-of-them/[/quote]

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