Higher Taxes = Greater Revenue

[Boris Norris]

Taxes are a burden on business, suppress economic activity, and lower the revenue collected from taxes on that activity - even a ***** should be able to grasp that.

So you think they shouldn't pay taxes???
Oh how cute while the blue collar workers get the guts taxed out of them paying for those parasites.

 

[Gabriel_Bell]

Taxes on most middle income workers are about what they should be. Taxes on the wealthiest arre far too low and are poorly enforced.

 

[mark francis]

Don't raise taxes? I read today in the news that over half the households will not pay any tax. Is that fair? Let's not raise taxes, but let's also make sure that everybody pays their fair share. Read it and weep:

"Today is the last day to file your taxes without incurring a penalty, but for about 45 percent of U.S. households, or about 69 million, the amount owed to Uncle Sam will be zero, according to the nonpartisan Tax Policy Center.​

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Most of those not paying federal taxes are low earners, but not all. Here's how it breaks down, according to the Tax Policy Center:​

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* Under $50K - 63.2 million tax filers​

* $50K-$100K - 4.3 million tax filers​

* $100K-$500K- 485,000 tax filers​

* $500K-$1 million - 14,000 tax filers​

* Over $1 million - 4,000 tax filers​

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Most of those households do pay state, local, property and payroll taxes, but those who don't owe any federal income taxes can thank the myriad tax breaks available — many of which help low earners reach zero liability. Very high earners who don't pay federal taxes usually get their income from "tax-exempt bonds or from overseas sources for which they get foreign tax credits."​

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If all those tax breaks were removed, a possibility suggested by some politicians to help lower the budget deficit, the number of households not owing taxes would drop to 27 percent, the Tax Policy Center estimates.​

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Tax Liability Down for All Earners​

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According to the IRS, in 2007 (the latest data available), more than half of the nation's tax revenue came from the top 10 percent of earners, whose federal income tax rate dropped from 26 percent in 1992 to about 17 percent in 2007. The average federal income tax rate for all tax payers dropped from 9.9 percent to 9.3 percent over that same period." ​

Thousands of Americans have hidden massive amounts of wealth in tax exempt foundations that have been protected by Congress from subjection to taxation.

 

[Phoenix68]

The Democrat communists have finally stolen themselves some power.

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[Phoenix68]

Thousands of Americans have hidden massive amounts of wealth in tax exempt foundations that have been protected by Congress from subjection to taxation.

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Gee....how profound.
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