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by bojangleslover
1494 days ago
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>proportionally more than people earning more than me US tax is highly progressive with high earners often losing over 50% of their income to taxes. Even though payroll taxes (which is what I suspect you are referring to) start from $0—they are only 7.65%. How is that "proportionally more than people earning more than me"? If your answer is capital gains and dividends—that is precisely what this post tries to address. There simply aren't enough people rich enough who pay less proportionally to make a big dent. If you want to spite them, then go after them. But it's not a way to actually make things more "fair". To your point, though. If a big wealth tax on billionaires is barely a drop on the bucket, the payroll taxes on very low earners are barely an iota. This is probably a tax cut you can give that would seriously help people out without draining the federal bankroll. I wonder why this hasn't been done. |
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