Quote:
Originally Posted by IllTestYourGirls
What would be a fair income tax on anyone making over $250,000 to $500,000. This is for USA.
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I'm not sure 250K-500K is "rich", but if you're talking theoretically about who can afford to shoulder national tax requirements, then it's a reasonable place to start squeezing a little.
In America, the top 10% owns 70%-90% of the nations wealth. The reason for the wide range I'm quoting is because it's easy to manipulate statistics depending on what you include or omit, so that covers the most conservative to most liberal interpretations.
The top 5% hold more than the remaining 95% of citizens, yet this group only covers about half of America's taxes. That's a steal.
The bottom 40% owned less than 1%. IMO none of these people should pay any income tax.
What every message board tax thread reveals is the mass ignorance of the working population about true wealth distribution in this country, comical perceptions of what rich is, and generally poor math skills with no ability to conceptualize the consequences of numbers.
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