Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: Torie
How much more should the rich pay? How much is their fair share.

Right now the top 50% of taxpayers0 pay over 96% of the taxes.

The top 5% pay over 56% of the taxes. How much do you think they should be paying? 60%, 70%, 100%.

How much?
8 posted on 12/22/2002 12:37:39 PM PST by chaosagent
[ Post Reply | Private Reply | To 1 | View Replies ]


To: chaosagent
To address all of the comments so far at once, the richer should pay a higher percentage of their income than the poorer because they can afford it. That of course is a value judgment. It needs to be weighed against how the structure affects the growth of the pie. But supply side has been was oversold. There isn't much data to back it up at the brackets we are talking about here.

Your figures are just based on the personal income tax. You need to take into account all taxes, including FICA and local taxes, and figure that about half of the corporate income tax is a disguised sales tax. Looking at absolute dollars paid, rather than percentage of income paid, is interesting but tends to obscure the issue.

I would like to see the particular WSJ editorial too, but the WSJ's tone on this matter has become quite strident, and I do recall the WSJ worrying about talking so many folks off the income tax rolls would foster a soak the rich mentality. The WSJ tends to get a bit paranoid about these things.

Someone mentioned envy. I am afraid that shot rather misses the mark. :)

9 posted on 12/22/2002 12:51:18 PM PST by Torie
[ Post Reply | Private Reply | To 8 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson