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The rich already pay more taxes annually than most people will earn all year. 70% of the tax burden is carried by individuals earning > $120k/year, which is 30%
by PM_me_your_math 3y ago
The rich already pay more taxes annually than most people will earn all year. 70% of the tax burden is carried by individuals earning > $120k/year, which is 30% of the population of the United States. This does not include the income that high-wealth individuals create through salaries and expense spending, both business and personal; all of which is taxed, and none of it exists without them. If it is decreed that wealthy people are 'guilty' of being successful, (that somehow, the rich got rich by taking something the poor doesn't have) then the wealthy will roll back spending and investment, which only means less opportunity, less jobs, and less income (and thus less taxable income.)
Half the country does not pay any significant income, property, or payroll tax.
To the same end, everyone is lifted up when prosperity is high. Tax revenues grow, opportunity is spurred, and people pull themselves out of poverty as a result. You cannot make someone rich by making someone else poor. The net effect will always be zero if you do not let people find their own way.
The myth that the rich don't pay taxes is nothing but class warfare propaganda.
- unclevername 3y agoFunny how it worked for Eisenhower.