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Originally Posted by DINANM3
I have a serious problem with # 2. Im in that tax bracket.
Why should I pay a higher percent in Taxes than anyone else. Its not fair. I worked extremely hard to get to where I am and why should I be penalized for it. I put almost 20 years of schooling to get my double business degree and MBA. I put in 60 to 80 hours of work in a week every week. Why do I have to pay more taxes than anyone else does. Its bullshit. You think I should be penalized because I worked and still work my fucking ass off. Give me a break.
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Then you have a serious problem with the United States income tax law (and that of 99% of the countries in the world) which calls for a
progressive income tax. How progressive is up for debate. But it sounds like you are against the idea of a progressive tax in general.
Even the proposed "flat tax" system is progressive in that it allows the first $30k or so of income to be tax free.
Be happy that you live at a time when the highest tax bracket is the lowest of any time in our country's history since the income tax was started. There were times when the highest tax bracket was as high as 94% (during WWII). In fact, from the time of WWII until the early 1980s, the highest tax bracket never dipped below 70%. Now it is half of that. Do you think the trend towards an increasing smaller percentage of the population controlling an ever increasing percentage of the total wealth in recent years has anything to do with that?
When you cut the amount of tax being paid by the wealthy, the end result is that you increase the amount paid by the lower class. The Republicans usually get around this by saying they will simply cut spending. But when they cut spending, it always starts with items that fall under the category of "state aid". That then results in the states increasing taxes to make up for their budget gap, and the taxes that are usually raised are sales tax, which is a
regressive tax (the opposite of progressive, i.e. poor people pay a higher percentage of their income than wealthy people).
For the bottom 20% of Americans, their tax burden has increased under this president. They all received rather tiny (around $100-200) tax rebates, and their local income taxes then rose by 1-2%.
If the Republicans are going to say that we are in a time of war, then the upper class should be taxed like they have been in previous wars.
Conservatives like to say that the country has gone to hell in recent years and that things were better back in the 1940s & 1950s. If that is so, then let's bring back the income tax code of the 1950s. The highest tax bracket back then was 91%.
And BTW, if you saved $60k due to a 3.6% decrease in the tax on your income above $300k, then I certainly do not feel bad for you. You are in the top 0.1% of Americans. Who I feel bad for are the 20% of American children that live below the poverty line. The poverty line means that a family of 4 lives on less than $19k per year (gross income before taxes).