Fair Tax Rates?

It always amuses me when people squawk about “the rich” not paying enough taxes.  Aside from the fact that there’s never a definition of who “the rich” are, that isn’t the reality of U.S. tax structure.  In this country, the more you make, the more you pay.  The more you make, the greater the percentage of your income taken by the government as income tax.  No matter how you look at the numbers, those who make more, pay more.

Where did the myth come from that “the rich” don’t pay their fair share of tax?  Seriously?  Look at the data!

Only somebody with specialized training, expertise, and experience is generating $250,000 of taxable income.1  Someone earning $250,000 pays near nearly 30% of their hard-earned money in income taxes.  A person earning $30,000 owes less than 15% in taxes.

In what sense is this equitable?  “Fair income taxes” would have every person paying the same percentage rate.  A different approach to “fair taxes” – in my opinion, a better approach – would be a flat rate in which every person pays the same dollar amount.  Such a tax structure might get some life-long leeches off the welfare rolls and out earning a living.  Exemptions could be given to full-time college students and people who are disabled in a manner that prevents employment, but there really is no excuse for the number of people who contribute nothing to society.  How is it “fair” when somebody who works 60 hours a week to earn a living is required to turn over part of that money to the government so that the government can give hand-outs to those who won’t work to support themselves?

It’s just not true to say that “the wealthy” aren’t paying their fair share of taxes.

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1Politicians being an exception. There is no reason to give tax money to politicians once they are no longer in office. This definitely needs to change.

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