Burgerman wrote: So, where are these marvelous places?
Burgerman wrote:Plutocracy? Dont care in any way. They are not making ME or YOU poorer! Thers no pie remember! And they pay more tax than you or I do. If they are super rich so what?
My marginal tax rate
I understand your approach.
You want a pie chart to display total tax paid by groups to argue your gods of Plutocracy pay in total more than another.
That's as it should be;
but in reality their total taxes are too little because of income classifications, exclusions and exemptions which decrease their tax rate below the working middle class rate.
Looking at a pie chart of income distribution only makes sense that the more income the more tax; but it is not even close to apples for apples. It is plums to lemons.
My marginal tax rate means something to me when I have to subsidize the lower tax rate of the plutocracy. Trickle down economics is voodoo inflcted upon the populace. It is not sustainable.
I don't understand your thinking even though you pay no income tax.
Burgerman wrote:You want a pie chart to display total tax paid by groups to argue your gods of Plutocracy pay in total more than another.
I have no "gods". The (your) plutocracy Ssimply DO pay more tax. Its trivial to show this. LOTS more in most cases.
You preach that the $40mil income of the hedge fund manager should be taxed at 15%
while the $500k income of the doctor should be taxed at 35%
Burgerman wrote:You preach that the $40mil income of the hedge fund manager should be taxed at 15%
Thats 600,000 THOUSANDwhile the $500k income of the doctor should be taxed at 35%
Thats 175,000
So the hedge fund manager has to pay 5 times MORE. And both pay way more than you so you can live how you do.
Hedge fund managers have the potential to be some of the highest paid executives in the financial industry, if they stay competitive and always come out as winners. On the other end of the spectrum, some hedge fund managers do not make nearly as much as the top paid managers, because if they fail at all in their financial endeavors, they will not be paid.
Read more: Hedge Fund Manager http://www.investopedia.com/terms/h/hed ... z4lJs1uidN
Follow us: Investopedia on Facebook
The hedge fund manager has 80x the income of the doctor and only pays 34x the tax that the doctor pays. Say that again, keep repeatin that!
The $40MIL isn't a golden egg he laid all by himself. But for whatever reason you seem to believe he did.
It's the country, the system, the infarstructure that taxes pay for;
and after that but above all its the demand from the populace that drives it all.
You cry you were overwhelmed, when in business, so you didn't strive to keep going and become rich. Well there was and always will be someone to take up your slack as long as the demand is there.
You think the $40mil manager is gonna hold his breath, turn blue and only earn $20mil if required to pay the same tax rate as the doctor, really? Well don't worry, someone will take up his $20mil slack as long as the demand is there.
The more you force the middle class to subsidize the tax breaks of the rich the less demand there is for goods and services which is the driving force of any economy.
Users browsing this forum: No registered users and 232 guests