[quote1266952049=Steve]
Isn't that how it is now? Bill gates pays lower %(approx 15%) compared to almost anyone making over $34,000(25%)
His tax bracket is 35%, however because of his charitable foundation, and all of his employees(10,000+), he gets major tax cuts.
My Parents: $125,000 in earnings, approx 25%(28%-write offs) in taxes. (approx $31,000)
Bill: $3 billion in earnings, 15%(35%-write offs) in taxes. ($450MILLION)
How can you people honestly believe Gates should need to pay a higher percent?
and Pyro why would the US not exist? we didn't even have income tax until WWI..
[/quote1266952049]
like i said, im not an economist. you are right, the 20% with the highest earnings can contribute way more than the 20% with the lowest earnings, while contributing a significantly lower portion of their total earnings.
when i say that the usa wouldn't exist, i mean that if the richest people in the history of the usa had not contributed to the country fairly from what they had, things would be very different, blah, blah, communism, blah.
but if we are talking income tax (which you were, my bad) then that's not the same thing. i mean bill gates gives back alot more than 15% of his earnings at the end of the day, it's just not in the form of taxes.
as far as how much people should pay in the way of taxes goes... you and I both know that we have opposing opinions, and im not gonna argue with you about it since there's no point.
anyway, ya... tonight we see if canada's men's hockey team will make it to the semis. WOO