Even though you were taxed at 10% verses my 99% you would pay more in taxes than I did. When making these comparisons it better to look at percent compared to income.
See Baseline Tables: Distribution of Income and Taxes; Baseline: Current Law, by Cash Income Level, 2004-2022
So how much of every dollar that I earn should I be allow to keep? If I earn $1.00, should I be allowed to keep $0.90? $0.80? $0.70? $0.60? $0.50? $0.40? $0.30? $0.20? $0.10? Nothing? Out of that $1.00 earned, please tell me how many cents I should be allowed to keep?
If you earn $1.00, please tell me how many cents you should be allowed to keep?
My sister (the Liberal) used to live in Sweden. I learned a lot about Sweden, even though I didn't intend to. Their Healthcare system is single payer and on the surface looks great...everyone gets it. But, a little closer look yields these facts:
My sister has severe back problems due to a couple of car accidents, one many years ago and one about 6 years ago when she was rear ended at a stop light during a police chase of a drunken driver.
It can take 2-3 months to get a doctor's appointment, even with a non-specialist.
Once you see the doctor and he orders an MRI...it can take another 2-3 months to get the MRI
Then, another 4 weeks to have someone read the MRI
Then another 3-6 weeks for the follow up appointment
She needed back surgery but was told that they wanted her to try a year of Physical Therapy first. (remember that rationed care thing?) She tried it for about a month but was in so much pain she couldn't do it. She existed on strong pain medication and was getting very depressed.
I made her an appointment with a Neurosurgeon in Maryland and she flew back to the US for a consult. He ordered an MRI...which they did that afternoon, he read it about 20 minutes after and scheduled her for surgery 4 days later. She needed rods, screws, a Vetebraplasty and who knows what else. Anyway, long story short...she's 100% better. She went back to Sweden 6 weeks later and saw her doctor. He was stunned that she had had the surgery she needed so fast.
Sweden has an almost 58% income tax, 26% corporate tax and 25% VAT tax! That's a lot of tax and most of it goes into their medical program. Many Swedes hide their money in Spain, it's called "Black money". Their taxes are due to go up and this is a small country with a fraction of our population. Can you imagine what our Healthcare is going to be like here in about 10 years?
So, to keep this On Topic...I'm moving to Texas.
I don't know what bottom earners think, and just because a guy is working for minimum wage doesn't make him any worse or better than someone who makes $1,000,000 a year. How should one "better" themselves? Maybe if they declare bankruptcy and get out of their debts, and take unemployment and live off the system rather than working 2 or more low wage jobs and honoring their debts would be bettering themselves in your view since they would earn more and pay less in taxes (they wouldn't have to pay payroll taxes if they don't have a job).
All of this equating someones value to their net-worth is one of the main things that is wrong with this country, it seems that many people think someone's wealth matters more than how they treat others and how they conduct themselves. Just because someone is fixing your car doesn't make them beneath you or anyone else.
If you and I made a $1.00 how much of it should we keep all of it minus the services that we demand of our government. I believe that we are all created equally and that all income and we should all be taxed equally and that all income should be treated equally. So we should all be taxed the same.
The current wage income tax is the high rate of 35% for the working class. If you made a flat tax of 35% it would require guys like Romney (14.1%) and Buffet to pay more money at an equal rate. Why is this so unfair?
Much of the 1%, like Buffet, Rockefeller, Reid, Pelosi, Kerry live off of estate wealth, not income tax because their vast wealth does not come from income per se. That's why they don't care how high the income tax goes on others, it won't effect them. Now, I'd be all for taxing wealth at a higher rate but just try proposing that and watch the Libs who want higher taxes back off faster than a Walker with a head shot.
"we keep all of it minus the services that we demand of our government" We would have to agree to the cost of the services that we demand from our government, I don't have an amount but for me I would guess that it would be far less than the 35% that is the current rate
So if we have a flat tax, how many cents should we be able to keep for every $1.00 we earn? How many cents goes to us and how many cents goes to taxes?
The only way we'll ever have enough tax money to provide for the infrastructure and secure the borders is to cut spending and eliminate unnecessary bureaucratic agencies, waste and fraud. If we did that we'd probably all pay much less in taxes. The Federal government is bloated and it's powers reach way beyond what was intended under the Constitution.
Right now we are 16 TRILLION dollars in debt. The debt is structured that we will soon be 25 TRILLION in debt.
When Cities go bankrupt they go to the State for money. When States go broke they go to the Federal Government. Where does the Federal Government go? THE UNITED NATIONS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!