While it is true that the wealthy pay more money in taxes than the average American, The average American pays a higher percentage of his take home pay than the wealthy. 13 percent of 1 million dollars is 130,000 dollars. 15 percent of 40 thousand dollars is 6,000 dollars. so on the surface it looks like the person making a million is paying more in taxes but in reality he is paying a lower percentage of his take home pay than the person only making 40 thousand. Those making less are paying a higher percentage of their take home pay because of the loop holes in place for the wealthy that the average person cannot take advantage of. Everyone should have to pay the same percentage of their income in taxes including social security and medicare with no exemptions. No one should be required to file an income tax return unless they are claiming a rebate for an allowable expense, such as medical, home ownership etc. This act would save billions each year and guarantee social security and medicare well into the future.
Posted on: Tue, 18 Jun 2013 23:48:10 +0000
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