25 Percent of Millionaires Pay Lower Taxes Than 10.4 Million Middle-Class Americans

[DontBeStupid]

You can suggest it all you want, but that's not the system we currently have. Our system that is in place is supposed to be progressive, but clearly that isn't working in all cases. We need to fix some things to get it more progressive more often.

It's the word "progressive" that scares them.

No fear here. Heck progressive taxes are good for me I don't even make $50,000/year....still I don't support the concept.

I'm a big fan of things being fair and equitable so I'd rather pay the same rate, as a percentage of my income, that a millionare pays. I would also like to pay the same rate, as a percentage of my income, as someone who makes 50% less than I do pays.

I just like things being fair is all.

I don't see what's unfair about a progressive system. All people making $1M pay the same percentage and all people making $100K pay the same percentage. Seems fair and predictable.

 

[Hardball_Refuge]

"You guys are confusing capital gains tax rates, also knows as taxes on investments, with personal income tax rates."
-Actually, I believe that some folks posting to the thread are attempting to obfuscate one of the points made in the first article I posted: As it stands today, a wealthy individual can take advantage of preferential tax treatment of investment income and various tax loopholes to drastically lower his or her tax rate and effectively pay lower taxes than middle-class families.

Exactly what I said

-I don't think so. When I started the thread I made two main points: 1.25 Percent of Millionaires Pay Lower Taxes Than 10.4 Million Middle-Class Americans; 2. There aren't all that many millionaire business owners, therefore the effect of the so-called Buffet Rule on job creation would be negligible.

So what did you do? You looked at the tax tables and concluded:"I believe that the person from the first post is confused as to the difference between personal income tax rates and capital gains taxes." Hmmmm

Perhaps in response to your thoughtful analysis I should interject into the thread my views on US based multi-national corporate tax avoidance. But no, I probably shouldn't do that as it wouldn't be on topic either ;-)