Posted by Ray Kidder on 11/25/2008, 9:32 pm, in reply to "Re: the tax breaks"
71.191.66.102
Hal,
You wrote:
"When a poor (financially) person pays more taxes than a wealthy (financially) person then the system is not just."
I agree that the rich should pay most of the taxes, but it is my understanding that this is what is currently happening in the USA.
The only cases that I can think of where your statement is true is where the rich have low incomes and expenses. This can happen when a rich person retires, does not spend much money, and has negative income due to investment losses and depreciation of assets. Such people generally paid a lot of taxes in the past when they were accumulating their wealth.
I have herd of statistics that say things like:
The top 5% of families as ranked by income pay 50% of the income taxes, and the bottom 50% of families as ranked by income pay only 5% of the income taxes.
Even when factoring in social security, property, and sales taxes, the rich pay the lion's share of the taxes.
Ray Kidder
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