How much is my "fair share"?

1. 78

   Billy Hicksposted 12 years ago

   How much is my "fair share"?
   
   With all of the "Tax the wealthy" rhetoric out there this election cycle, I want an idea of what people think a "fair" tax rate would be for the wealthy.
   
   I don't want partisan talking points, or unsubstantiated allegations (from either side). If you start quoting "facts", then site your sources.
   
   I'm looking for rational discussion on tax policy (an absurd expectation I know). For the purposes of this discussion, let's set my annual income at $500,000.
   
   So tell me: How much should I have to pay in taxes.

   replyreport
2. 0

   JThomp42posted 12 years ago

   In my opinion, I vote for a flat tax rate across the board. Tax minimum wage the same as 1 million dollars per year.

   replyreport
   1. 60

      Josakposted 12 years agoin reply to this

      There is a huge problem with this system in how it affects the poor, if you make 10 000 a year and pay say 15% tax that $1500 is very important to getting by and not having it affects your quality of life not so for someone making much more.

      replyreport
   2. 0

      JThomp42posted 12 years agoin reply to this

      Well that is what they are paying now. I know this for a fact because that is exactly what my nephew makes per year. He is single w/out children. They eat him up.

      replyreport
   3. 60

      Josakposted 12 years agoin reply to this

      The current system definitely needs work, no argument. My point was simply that flat tax hits the poor much harder in terms of affecting their quality of life.

      replyreport
   4. 0

      JThomp42posted 12 years agoin reply to this

      I totally agree with you, But it is better than the 30% I was paying 15 years ago.

      replyreport
   5. 78

      Attikosposted 12 years agoin reply to this

      Most people who support a flat income tax suggest exempting the first X amount.

      replyreport
3. 62

   jeshonposted 12 years ago

   To me it would be fair if everyone pay the same share of taxes according to your income. In Sweden the taxes is based on where you live, but generally it is 30% of your income. That means the wealthy people pay the same percentage, but in numbers they pay more. I think that is as fair as it can be.

   replyreport
4. 60

   Josakposted 12 years ago

   In my opinion that should vary depending on the cost of living in your area if it were up to me people would keep enough for an area determined good quality of life plus 25 or 30% of their income, the rest should not have to go entirely to taxes but rather taxation or taxation and certified charities.
   
   Thus to answer the question directly I would need to know the cost of living in your area but basically income minus cost of living+ 30% of total income.

   replyreport