It is clearly not progressive enough. The article is misleading and tries to misrepresent the tax system and its impact on the wealthiest.
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Spoken like a true rob from the rich and give to the poor, socialist. Congrats
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I dont see a problem with trying to establish a base level of guaranteed stability to everybody at the expense of top 1%s excessive wealth
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You cant accomplish anything with the top 1%. That wouldnt do squat. You could take everything they have... that is a convenient argument. The top 10% already pay 90% of the tax in this country... half the country already pays nothing in federal tax... zero...
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First order of business needs to be legislation that prevents offshore tax havens that the paradise papers showed are rampant everywhere
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I could go along with that... fairness
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And they control the majority of the income in the country as well. If income were more justly distributed in the country, then we would see more widely derived income tax and other tax revenues, right?
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I looked at the article and there are misleading elements. I think the divisions are inappropriately done, especially at lower income levels. The folks at 40K to 90K are paying income tax. Because folks with 0K-25K are handled differently does negate low middle class income tax.
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Bottom get money back or pay very little when all taxes are included. Hard to lower less than zero.
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Indeed. The individuals and families with income levels between 40K and 86K do pay income taxes; and as one approaches the poverty level, less and less income tax is paid. In 2017 the poverty level for a family of 4 is 29K (Medicaid level is 39K).
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And they also got tax breaks in plan largest as percentage despite not paying income tax. I think plan does what it was intended to do. Interesting that despite math showing 90% got tax break only 50% think they did.
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Not progressive. This just indicates how much more the top 1% makes as compared to everyone else.
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“Oxfam says the trend shows that the global economy is skewed in favor of the rich, rewarding wealth instead of work.” The 1% grabbed 82% of all wealth created in 2017 http://money.cnn.com/2018/01/21/news/economy/davos-oxfam-inequality-wealth/index.html … Your chart says 51%. Which is accurate news, Oxfam or the “think tank”?
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And earns 95% of the income
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I am very dubious whether that is "progressive" at all. Within reason, all citizens should pay direct taxes, however small. Otherwise citizens are voting for laws they know they don't have to pay for.
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When half the population pays no income that is what is happening now. That is how so many Democrats stay in office. Vote for free stuff.
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Income tax is only one of the taxes we pay. Include all taxes and see how your distribution % model changes. Middle and low income people get hosed.
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