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Donotunderstand

02/20/17 11:00 AM

#388686 RE: Donotunderstand #388684

All but the top-earning 20% of American families pay more in payroll taxes than in federal income taxes, according to a Treasury Department analysis.


Lets put FICA aside as some say we are paying up front for our own retirement and some say its a Ponzi scheme etc.

put aside FICA (payroll tax for Medicare and Social Security in older ages)

read

the above says that only the top 20% (none of the low or middle if one uses a split of 20 60 20 by income) -- pays more than 7% of their income in income tax

consumption taxes burn the lower and middle class badly

Pecker9Wood

02/21/17 10:11 AM

#388853 RE: Donotunderstand #388684

Not using the progressive tax table from the IRS. Look how fast and what percentages the rates rises verse income. I think you know better and are just being argumentative. Your examples don't make sense and sounds like someone who doesn't do their own taxes and doesn't understand the hardships those who have to pay those taxes face. If you know the tax system and know what it takes to scratch out a living then when you speak to some of those people you might be amazed the scope of the problem. I am amazed as to how many people go to a tax preparer and pay monies they desperately need.