I just crunched some numbers from last years tax tables. BTW, the CAP for FICA last year was $80,400. I used two examples. One person making at the CAP and the other making 10X that amount at $804,000. Both reduce there Gross Income by 20% to a $64,320 and $643,200 Taxable Income respectively.
Both pay the maximum in FICA (12.4%): $9,969.60
Income Tax on $64,320 = $14,308.
Income Tax on $643,200 = $228,601.35
$14,308 + $9,969.60 = $24,277.60 or 30.2% of $80,400.
$228,601.35 + $9,969.60 = $238,571.95 or 29.7% of $804,000.
Outstanding research and that is what I expect from Freepers!
Even if you ignore the point that the higher bracked is paying for something they will never see returned to them.
Guess that is your concept of fair and equal government of and by the people.
Once again, does my vote count more than the other guy that is not actually paying for our government? And if not, why not?
Looks to me like one person's vote should be counted about 1,000 times more.
One person is actualy contributing to our government and the other one is not.
Hey wait a minute!
Why are you adding, instead of subtracting the $9,969.60 from the income?
Ok, call me ignorant. If this some sort of NEW MATH that I failed to lean in school?
Where did the $80,400 come from?
Fellow Freeper, I can and will accept your ideas if they are presented to me in a logical fashion.
Lie to me, and you will be exposed.