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Original post by way2lazy2care Quote:
How are you confused? Are you selectively choosing what words you want to see?!
You're prospering? Great.
You need a handout? Fine.
But you're prospering AND you want a handout? No.
how is a tax cut when you already pay more money than everyone else that results in you still paying more money than everyone else a handout?
Because you take more share of income than anyone else and the deficit is made up with borrowing that everyone else has to pay for well into the future.
Taxes pay for the public goods on which the economy depends. When you take a larger share of the income generated in the economy and your share of the taxes that make your income possible grows smaller, you're in effect getting a handout.
This is something I wrote elsewhere.
Referring to Summary of Latest Federal Individual Income Tax Data (October 6, 2010).
The top 1%, with adjusted gross income of more than $380,354 per year, paid a 38.02% share of income taxes on a 20.00% share of total adjusted gross income. That's 1,399,606 filers reporting adjusted gross income totaling $1,685,472,000,000 and paying a total of $392,149,000,000 in income taxes for a net income total of $1,293,323,000,000. That averages to $1,204,247 annual adjusted gross income, $280,185 annual income taxes and a net income of $924,062 per filer.
The bottom 50%, with adjusted gross income of less than $33,048 per year, paid a 2.70% share of income taxes on a 12.75% share of total adjusted gross income. That's 69,980,290 filers reporting adjusted gross income totaling $1,074,514,000,000 and paying a total of $27,873,000,000 in income taxes for a net income total of $1,046,641,000,000. That averages to $15,354 annual adjusted gross income, $398 annual income taxes and a net income of $14,956 per filer.
So roughly, in 2008 the bottom half of all income earners as a whole only got 64% (three fifths) as much income as the top 1%. And on average the bottom half of all income earners only got a net income equal to 1.62% (less than one fiftieth) as much as the income of the top 1%. Put another way, on average the top 1% of all income earners got a net income nearly 62 times as large as the incomes of the bottom half. The bottom line is that the rich carry the tax burden because they receive the bulk of the income benefits. If you want the poor to carry more of the burden, then demand they get a larger share of the income then they are getting now.