Are The Rich Paying An Unfairly Large Portion Of Income Taxes? Yes or No? Why or Why Not?

According to the Internal Revenue Service’s 2010 report, the top 1% of income earners earns 20% of the nation’s yearly income, while paying a 38% share of the nation’s income taxes. The bottom 50% of income earners earns 12.75% of the nation’s yearly income, while paying only 2.70% share of the income taxes. This shows the wealthiest pay a disproportionately larger share of income taxes compared to how much they earn. While they poor pay only a small percentage compared to their earnings. This means the rich are actually paying disproportionately greater share of income taxes compared to the poor, which means they aren’t paying a portion of taxes which are unfair to anyone. If anything the rich are the ones who are paying an unfairly large portion of taxes.

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  • Zaza
    Lv 7
    8 years ago
    Best Answer

    Yes.

    We need a flat tax. That way everyone has some skin in the game.

  • Daisy
    Lv 7
    8 years ago

    No. The rich benefit from taxes much more than the poor. They should pay more. What part of your city has the best streets? Not the poor part of town. Which part of your city has the best police protection? Not the poor part of town.

    Big business (wealthy) get $trillions in tax breaks EVERY YEAR, yet Republicans will stop Medicaide if they can. "Costs too much", you know.

    Most of the wealthiest people in the USA didn't earn their money. Daddy or granddaddy left it to them in a trust or some other tax friendly program. Look at Steve Jobs. He left billions$ to his family in a trust. And that's fine. But it's wrong that his kids/grandkids will live very well on the interest off that trust and pay no, or minimal tax on that interest! While my kids work hard their taxes fix roads, provide police protection, national security, and other benefits that the Jobs kids will be free to use, too! That's just wrong.

  • 8 years ago

    That could be argued. At the same time, though, much of the bottom 50% can barely afford to get by as it is, even without paying taxes, whereas the top 1% are getting by more than well enough.

  • Anonymous
    8 years ago

    The top 1% controls nearly 50% of our nation’s wealth.

    The top 1% earnings have gone up 400% as the middle-class stagnated or lost ground.

    The top 1% are paying 60-year low tax rates and many of them get away with paying nothing.

    Exxon didn’t pay taxes last year. Did you?

    A hedge fund manager made $4 BILLION last year. Should a school teacher pay a higher tax rate than he did?

    CORRECTION: The “poor” pay a HIGHER PERCENTAGE of their income on taxes AND basic necessities for survival.

    Raise my taxes by 10% and it won’t change a darn thing I do. And it won’t stop me from hiring because I hire when there is demand, regardless of my tax rate.

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  • Anonymous
    8 years ago

    I don't know about the rich, but the government somehow extracts 60% of my income, capital gains, wages, interest income etc with various local, county, state, and federal taxes.

    And when we look at sales tax, add a few more percentage points.

  • 8 years ago

    No. The rich also make disproportionately more money than the poor.

    Fair is a matter of perspective.

  • 8 years ago

    No,,,, as a mater of fact, many are paying no taxes at all, & then, getting a tax refund, to the tune of billions... Its also necessary to understand the difference between income, & profit... As defined by tax laws...

  • John E
    Lv 7
    8 years ago

    No its not fair, but it is largely balanced out by their good fortune.

    On the other hand, the idiots in California are talking taxes, taxes, taxes, and 'temporary taxes'. I have never known a 'temporary' tax that didn't PERMANENTLY take away my money!

  • 8 years ago

    The fact is that no matter what rate the wealthy are taxed it will never be enough. If the Bush tax cuts were allowed to expire the Liberals would simply spend more. The wealthy cannot be taxed enough to satisfy Democrats.

  • Anonymous
    8 years ago

    They are currently paying the lowest rate in over 70 years. Also the taxes on dividends is currently also the lowest level ever at a flat 15% no matter how much is earned.

    The current tax rates on the wealthy is absurdly low.

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