auditor0007
Gold Member
How does one get their wealth stolen from them? Esp. when they pay no taxes. While the rich may be getting richer (or were) so were the poor. How many poor people own cell phones and have cable TV? Do the poor in socialistic countries enjoy these luxuries?
When I was starting out, I worked two minimum wage jobs. It never occurred to me that someone had actually taken the money I never had. Liberal math again.
It is stolen from the devaluing of the dollar for one. But there are many other things. Where you fail and most on the right fail is with this fallacy that only the wealthy pay taxes. It is a spoof that you try to pull over everyone, and in many cases, you actually believe it, even if you are not one of those who are considered wealthy.
The problem you have is that when you discuss taxes, you only take into consideration federal income taxes, and yes, the wealthy do pay the bulk of these taxes. However, this only accounts for a very small percentage of overall taxes that people pay. While the wealthy pay a higher rate of income tax, they pay a much lower rate of payroll taxes because they stop paying SS taxes after $106,000. Now if they make exactly $106,000, then they will pay the maximum rate for SS, but beyond that, their percentage goes down with every extra dollar earned.
Beyond that there are sales taxes, property taxes, sin taxes, excise taxes, energy taxes and a few others. Everyone pays those taxes and they take a much bigger bite out of the income of someone earning $30,000 per year than they do out of someone earning $1 million per year. In the end, a family of four earning $50,000 per year will pay an equal percentage of their income, if not more, than a family of four earning $150,000 per year.
As taxes eat away at the low income earner, there is nothing left to save, while the wealthy have a huge percentage of their income available for savings. And with that, the rich get richer and the poor remain stagnant. And as the value of the dollar declines, the poor get poorer.
This is not rocket science; it is very easy to discern, yet so many of you completely fail to see this as you argue that the rich should not be taxed so much and that they already pay more than their fair share. Well, it's all poppey cock. The rich are not paying more than anyone else, and they are reaping the benefits while lower income earners are being raked over the coals.
http://www.aei.org/issue/26125