So would you rather pay 5,000 or $16,169.
are you listening?
The numbers are not important.
Use a _________ if you prefer, it makes no difference.
If someone makes _________ and owes $10,000 in taxes but get to deduct $5,000 for whatever reason, he only owes $5,000 in taxes.
If that someone makes __________ and owes $8000 in taxes and doesn't get to deduct anything, he owes $8000 in taxes.
Obviously the person in the first example is paying a higher taxes rate, but notice that the person in the 2nd example is paying more in taxes.
This is the game the liberals have been playing for DECADES when it comes to tax rates!
I visit liberal boards ALL the time, because I want to know what my enemy thinks. And this is the issue they are most WRONG about! They ALWAYS say “the rich are not paying any taxes!” or the “rich are not paying their fair share!” and then point to the fact that back during the FDR years the top marginal tax rate for like 90% as PROOF the rich are not paying their fair share.
NOTHING could be further from the truth!
The rich have consistently been paying a larger and larger share of income taxes over the last 70+ years!
Yes, the top marginal tax rate has gone WAY down, but each and every time it was lower the rich lost access to deductions which resulted each and every time with them paying MORE in taxes in the end.
Even Reagan pulled this stunt! Yes he lowered the top marginal tax rates, but he simultaneously eliminated deductions like credit card interest and the ability to depreciate property over a short period of time. The end result was that the rich ended up paying MORE in taxes than they had prior to the lowering of their tax rates.