I'm 100% maga but I'm maga because o feel it is the party of common sense. It seems like what I am saying now should be common sense.
I'm not talking about business taxes. I think there should be as little as possible on that. I'm talking about personal tax. I make about 60k a year. I pay about 33% tax.
A person making 10 million a year simply does not pay 3 million in taxes. They pay a ton more than I do, but is all about percent.. don't pay less of a percent than I do. There are too many exceptions and tax breaks. Also social security is maxed out at what the first 200k? If 1% of my pay is deducted for social security then 1% of the rich pay should also be deducted. Its just fair. Then you look at the tax code and the rich pay more of a percent but it does not work ut that way...they still are not paying 30 million on a 100 million like I am....
Taxes should be less and I think a flat tax would probably be good. A lot of the people making 30,000 a year get all of their tax money refunded and don't pay anything. I know 30,000 isn't much but is it any wonder that freeloaders on government benefits don't care if taxes are high because they don't pay any. Picking on the rich for paying less in overall percentage (but millions more than you do) is the wrong way to look at things. And I doubt you are paying 33% in taxes. The highest rate for 60,000 is 22%, but taxes are progressive so up to 9,874 everyone pays zero. Then between 9,875 and 40,124 you pay 12%... and on it goes. And because taxes are progressive, they pay the same amount as you up until 60,000 dollars. They pay less at higher amounts because that's how the progressive tax works. Essentially, if you made the same amount of money as them, you could pay the same amount in taxes. Now they pay accountants and such and find better ways to invest, but you can also do that. And one day if you become rich, you may also look at things different. But yeah, everyone pays the same depending on how much they earn (not taking into account deductions or tax exempt income, investments, etc.)
Its even in texas...yep my net paycheck is 33% less than gross. I don't look at end of year taxes but good points
You can't look at your net paycheck because that takes into account your deductions (which you personally set up before hand) and doesn't take into account your refund at the end of the year either. Also, if you get medical, dental, 401k or anything else like that, those will also be deducted. You need to check your tax paperwork at the end of the year ... see what your total federal taxes paid and calculate that as a percentage of your gross. I'm guessing it's less than 20% based on what you make. Maybe even less than that.