Quote:
Originally Posted by Clev
There's nothing unreasonably high about tax rates for the wealthy. In fact, the wealthy pay less taxes as a function of income than any group except the destitute.
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Not entirely true. A wealthy person who gets most of their income as earned income pays a much higher rate than the average taxpayer: 35% on everything over $379,150 for a single person. On the other hand, if you have an income less than about $35K (again, for a single person) you pay zero tax on capital gains - and there are probably a lot of retired folks in this position.
In either case, whether the income is earned or CG, the typical rich person will pay a far higher amount of tax, but don't get anything more (and probably less) from government "services" than anyone else. So where is the fairness in expecting them to pay, not just more because they have more income, but a higher rate? Seems to me that's just a majority wanting to freeload off the more successful minority.
And of course there is a bit of self interest here: once that majority sucks the rich dry, who will they turn to next? The not rich but above average people like me, that's who. And after they're done with me, how much do you want to bet they won't come for you, too?