tax the rich and raise wages

tax the rich and raise wages

Posted in the Utica Forum

stockmarketdoesn thelpus

Rome, NY

#1 Aug 6, 2014
tax the rich and raise wages

Utica, NY

#2 Aug 6, 2014
Unless you have been living in a cave or are completely oblivious o the facts you's know that the top 1% of earners pay over 38% of all federal tax. The top 10% pay over 70% of the total federal tax and the top 50% of working Americans pay over 97% of all federal tax. That means that a full 50% of working Americans pay less than 3% of all federal tax with some paying none at all and even some that get a tax refund as a result of tax credits.

What this means when taken on the whole is that the rich are already paying for pretty much everything.

A few years ago New York passed a "millionaire's tax". Millionaires left in droves for more tax friendly places like Florida and Texas. Also as a result, New York lost jobs and businesses.

Do you still think it's a good idea to tax the rich more than they already are?

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