1. How do you define someone as being rich?
2. How do you define fair share?
3. How much is their fair share?
4. Do they get more if they pay more taxes?
Most Helpful Girl
Be realistic! If there is anyone who's income exceeds lets say $500,000 and up. Each increment of $500,000 the tax percentage increases by a marginal amount.
Currently I believe $500,000 is at about 39% with an equal increment the percentage may be 3% to 5% more each! Try and imagine that after world war II the tax rate was between 70% to 90% and the economy, the infrastructure and jobs were grade A. Then there was a huge reduction in tax percentages for the rich in the early 80's. Combine that with the ability now to take your manufacturing to another nation and the rate of pay went from $18 an hour to $2 an hour (average) Figure the math! CEO's in the early 50's made 8% t0 15% more than the the highest paid non executive worker! It's over 200% now! The rich started taking more and more money and depositing it in overseas accounts to avoid taxation and their money accumulate exponentially by 2007. They controlled 96% of all usable income! After the Wall Street Big Banks disaster of 2008. They went up to 98%! Now. If you can imagine taking away say, 15% of the riches income and distributing to the economy. Wow More jobs and income! Better Roads and Bridges etc.0
Most Helpful Guy
The whole thing is a red herring. While I believe they 'should pay' their fair share, unless you take a ridiculously wide view of what 'rich' means, most tax dollars must come from the middle class. Most spending is also on the middle class.
That said, lets take a stab.
How do I define someone as being rich? If when a given job ends, they take some time before considering a new job, and have no pressure in the medium term to find a job, they're probably rich.
Fair share? At least equivalent to what they'd pay under a flat tax regime with very few deductions. I think we can say they're -not- paying their fair share if being rich means better access to tax sheltering and a -lower- tax rate. What about progressive taxation? I think you can justify it within reason. It would be easier to comment on specific cases then try to define.
Do the get more if they pay more taxes? Well, in a sense, they typically do. They would not have the incomes they have without a functioning, law abiding society. So the platform that our net heritage of technology, our legal system, our national defense etc. provides is indeed benefitting them greatly. In many cases, they are also benefitting from their own talent and work. But that talent and work is amplified by societal structures.1