When it comes to the taxes closest to home, the less you earn, the harder you’re hit.
That is the conclusion of an analysis by the Institute on Taxation and Economic Policy that evaluates the local tax burden in every state, from Washington, labeled the most regressive, to Delaware, ranked as the fairest of them all.
According to the study, in 2015 the poorest fifth of Americans will pay on average 10.9 percent of their income in state and local taxes, the middle fifth will pay 9.4 percent and the top 1 percent will average 5.4 percent.
“Virtually every state’s tax system is fundamentally unfair,” the report concludes. “Unfair tax systems not only exacerbate widening income inequality in the short term, but they also will leave states struggling to raise enough revenue to meet their basic needs in the long term.”
The trend is growing worse, said Meg Wiehe, state policy director at the institute, a nonpartisan research organization based in the nation’s capital. Several states have adopted or are considering policy changes that further lighten the tax load on their wealthiest residents, she said.
If my post offends you, I deeply Apple-O-Jize.
Americans are smrt. We realized that by giving people freedom we took away their personal power. THat by saying they could have guns, it was like we were giving them guns. If I want a gun or to smoke pot or whatever, I would just do it. I don't need any libertarians or constitution to tell me what I can or can't do, especially when it's with strings attached, like we give you freedom as long as you become our goon and let us accumulate money dangerously without any regulation.
Most poor probably think the rich should be taxed at 90% of their income.
Both thoughts are silly.
No one poor wants to be poor. And taxing the rich 90% is asinine...just jealousy/sour grapes.
Even for those poor that sit on their asses collecting government assistance, I guarantee you it taxes them emotionally.
No one sane wants poverty even if they don't have to do anything to exist.
'What kind of sick and twisted toy factory is this?'
'We are all the sum of our tears. Too little and the ground is not fertile, and nothing can grow there. Too much, the best of us is washed away.'
"Better to be dead and cool, than alive and uncool."
Oh wait, they have.
1) not realizing you're a victim
2) hating on those who try and improve the world through whatever small piece they can.
"The side that stays within its fortifications is beaten." ~Napoleon
The tax code provides EIC's for those that have children, the elderly and other requirements, plus you need to make a certain dollar amount to be taxed at all. If a person earns only a small amount, say $14,000 a year, there is no tax income tax levied on that, but what Mittens failed at was noting that the 47% does pay some taxes, on goods, licensing fees for vehicles, everyday items people use, fuel taxes, foods, and a host of other items that are taxed. So he was factually incorrect.
But being that he was talking to a group of would be donors, I can see why he would be less than honest about his comments, he just wanted their campaign contributions.
How many of you give to charity, and how many just bitch about the poor for political reasons?
"He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
Just about everyone downplays their own circumstances and ignores key aspects of others'.
That being said: The bottom 10% of income earners in the U.S. live better lives than the bottom 10% in all but three nation, and better lives than the TOP 10% of all but eleven.
“If we must have an enemy at the head of Government, let it be one whom we can oppose, and for whom we are not responsible, who will not involve our party in the disgrace of his foolish and bad measures.”
- Alexander Hamilton. Spiritual father of #NeverTrump