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  • How Much of the Tax Burden Should Fall on the Wealthy?

    5 posts, 5 voices, 484 views, started Nov 1, 2008

    Posted on Saturday, November 1, 2008

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    • inactive
      Amethyst
      Offline

      Mr. Obama has argued over and over again that the wealthy in America should pay more in federal taxes. Obama contends that this is a matter of fairness. How much in tax contributions is enough from the wealthy?

      If the top 1% of wage earners paid 25% of the total federal tax collections from individuals, would you be satisfied?  If the top 20% of wage earners paid 67% of the total federal tax collections from individuals, would you be satisfied? Would the wealthy be paying their fair share?

      Well, these are the actual numbers under our current federal tax scheme. Do you think we should tax the wealthy even more? Should we seek to cut federal spending instead?

      What do you think?

      By the way, the bottom 40% of wage earners in America now pay 5% of the total federal tax collections from individuals. Do they deserve a tax break?



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        • 0 votes vote up vote up

          Cynthia Schmidt wrote Nov 1, 2008
        • The idea of a flat tax has been bounced around from time to time but I’m really not a very tax saavy person. My husband is in a fairly high tax bracket. He works so hard and puts in so many hours at work. We‘re very responsible with money and save generously for retirement. I’d hate to see him taxed higher than he is now. He doesn’t work for himself, he’s employed by a private school. My work is a labor of love and I don’t make much money but I’d hate to have to give it up because our tax burdon is too high for me to continue.

          I wish I knew more about this stuff!



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        • 0 votes vote up vote up

          Dee Dee Shaw wrote Nov 1, 2008
        • I really like the idea of a flat tax rate (although we’d probably pay more.) We have a farm that still isn’t breaking even, and a home based business that gives you tons of write offs (Cynthia, you should really look into this! It may save you from higher taxes.) We also have a ton of kids. We still have to pay, but the flat tax doesn’t have all the loopholes and write-offs. It’ll never happen though - too many people (IRS) would be without jobs.



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        • 0 votes vote up vote up

          Mztracy wrote Nov 1, 2008
        • The answers here depend on your tax bracket.  

          And his concept is much more complex than this. He has said he would like to tax those companies that ship work overseas, and give a break to those who keep work in the USA.  

          As for the majority of people who make under 250,000 a year, I am sure we would love a good tax break. If you make more than that, then of course you will not approve of this.

          Whoever becomes our next president has alot of work to do, after what has been done to this country by our current president.  

          No matter who, God bless him!



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