So I read online where someone said to the fact that billionaires or rich people in general don’t need to be going into space since it won’t help humanity in the long run. If they really wanted to make a difference they should be spending their money to help solve the worlds problems or at least pay their fair share of taxes.when it comes to taxes it seems they’re in bed with the politicians who are against doing so. I agree. What do you think?
Awww the ole rich people don't "pay their fair share of taxes" BS again by someone who obviously has NO CLUE about who actually pays what "share" of taxes.
I posted this in another thread.
From 2018 stats for taxes paid:
Data shows that the top 1 percent of earners (with incomes over $540,009) paid over 40 percent of all income taxes.
The top 10 percent of earners bore responsibility for over 71 percent of all income taxes paid and the top 25 percent paid 87 percent of all income taxes. Both of those figures represent an increased tax share compared to 2017.
On the other side of the income spectrum, the bottom 50 percent’s income tax burden has been significantly reduced over the past forty years. In 1980, it stood at 7 percent. That dropped to a low of 2.4 percent in 2010 during the recession. As the economy gradually improved after the recession, the tax share of this income group gradually increased to 3.1 percent in 2017. Although the economy remained strong in 2018, this group's tax share fell from the previous year from 3.1 percent to 2.94 percent.
A person making $7.25/hour who worked 40 hours a week for 52 weeks would have an income of $15080. The standard deduction in 2020 for a single person under 65 was $12400. That $7.25/hour person would have an AGI $2680 which puts them in a 10% tax bracket.........10% of $2680 ($268) NOT $15080. If that $7.25/hour person has a child they get a tax credit that results in getting MORE money in the form of a tax return than they owed.
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Yeah those pesky facts destroy the TALKING point about rich people about rich people not "paying their fair share" and that poor people pay a higher percentage of income tax......but if it makes you feel better regurgitate talking points instead of doing your OWN research you should keep doing so. SMH
Instead of people being critical of what rich people do with their OWN money maybe they should learn what rich people do to become WEALTHY and make the SACRIFICES and put the EFFORT in that is required to become rich. But that is a foreign concept to the people who see themselves as ENTITLED to wealth SOMEONE ELSE EARNED!!!!!!!!
Edited by
Smartazzjohn
on Wed 08/04/21 10:51 AM