A Fair Share

[Clyde]

And therefore we are all paying more than our fair share. Well, those who pay.

 

 

That's not necessarily true. We can all bitch and moan about some of the items taxes go towards but that's a different argument than who should pay what for the taxes that are collected.

[Plato]

That's not necessarily true. We can all bitch and moan about some of the items taxes go towards but that's a different argument than who should pay what for the taxes that are collected.

 

The more waste, the more I feel we have every right to bitch and moan. Especially when the word "fair" is thrown around like I should feel honored to contribute.

[Know It All]

How about no income tax? That's fair across the board. And that would automatically eliminate wasteful spending.

[spindoc]

Maybe I haven't followed as closely as I should. His entire plan is called "fair share?"

In all this rhetoric I haven't heard him talk about anything else. Well, I suppose he did discuss how many jobs he created, then once that was debunked, it was back to fair share.

[acemona]

There isn't much left to choose to give after the "fair share" is taken by law.

 

Simply not true.

Edited September 9, 2012 by True blue (and gold)
Rule 13

[Bluegrasscard]

Simply not true.

 

Approximate real percentages of taxes (this is real data from real experience).

 

Federal income tax 14%

Social Security tax 6.2% (12.4% if self employed)

Medicare tax 1.45% (2.9% if self employed)

State tax 5%

Local tax 3%

 

So 30% is gone in taxes that hit your income alone.

 

Now for other taxes

 

Property tax - 1.5% (based on value of property. Usually between .6 - .9% of value of property each year. Mainly funds public schools)

Auto/boat property tax - .5%

Gasoline tax - 1% (Federal and state taxes. Used to fund roads.)

Sales tax - 1-2% (6% in Kentucky, higher in other states. Food is exempt)

Utility taxes - 1% (Taxes on water, natural gas, electric, cable TV, phone service)

 

So without trying its easy to show that most of us are already paying at least 35% or more in taxes. Easily over 40% if you are self employed with having to cover both halfs of social security and medicare taxes.

 

I am not sure what is 'fair' but when we are already into 40% of every dollar we have a serious problem with overall taxation. When you talk about any one of the above in isolation it does not sound bad.

 

And please be sure to sure to see that 'infrastructure' funding is mostly funded by the users via the usage taxes - gasoline and utility taxes. It is not paid for out of income taxes usually. So the issue of raising income taxes to pay for roads and infrastructure is bogus.

[spindoc]

Simply not true.

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