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Are Rich People Overtaxed or Undertaxed?

Runn92
Posts: 324
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5/24/2016 8:10:51 PM
Posted: 6 months ago
A lot of people (liberals) go on about how the rich are supposedly not paying their fair share in taxes. Conservatives counter with the point that actually rich people pay a much higher tax rate percentage in federal income taxes than do poorer groups, indicating the the rich are overtaxed.

I looked into it and found that both groups are actually misleading. Yes, the rich do pay a massive share of federal income taxes, which are really progressive. However, we also should factor in state, property, sales, local, and payroll taxes which are much more regressive and the poor pay a higher % of.

One study looked at this and found this:

https://www.washingtonpost.com...

The result?

The richest 1% are paying a slightly higher tax rate than other groups.... but only slightly. In other words, I tend to think that we are overtaxed as a nation overall but the rich, in particular, aren't more overtaxed in % terms than the poor. By continually making this argument, conservatives are just reinforcing the notion that they are defending the rich (which they often are).
KingDavid8
Posts: 63
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5/25/2016 10:58:06 AM
Posted: 6 months ago
I'd say everyone's overtaxed. We need to cut government spending down to a more reasonable level (mostly by cutting military spending, but anything else that's wasteful), lower the deficit, then cut taxes for everyone. But I believe that taxes should come out of disposable income, which the rich have more of, so the rich should be paying a higher percentage of their income.
Rukado
Posts: 527
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5/25/2016 7:21:19 PM
Posted: 6 months ago
Small government exist to help everyone (build roads, mint coins). Big government exists help the rich.

Rich people are helped by government policy designed to help the rich retain their wealth. Mass immigration (subsidized by welfare to poor immigrants) holds down the wages of the common man, to help the rich get rich. Government contracts worth hundreds of billions of dollars goes to companies headed by rich people. Most regulation is designed to prevent the middle-class from competing with the rich. Etc.

The idea that the rich are overtaxed is an oxymoron. Taxes exist for the rich.