Should tax cuts only go to the top 3% of income earners?

No it is not wide and completely understood under the tax codes. We don't tax your wealth anymore than we tax other people's wealth as it is an impossible task to assess wealth for the purpose of taxation as the few countries who tried it found out.

So people who pay no income taxes get a tax cut?

 

Yet he paid $11 billion in income taxes in 2021.

 

Ah sure. At first everybody is taxed equally, but that's never minding that at the bottom of the line, due to tax deductibles, the rich end up paying hardly to no taxes. This is widely known. And your shenanigans of just forgetting about them nice deductibles is just a rather cheap and boring trolling theme.

 

https://americansfortaxfairness.org...ll-big-news-just-10-wealth-increase-far-year/

Between 2014 and 2018 his wealth grew by $13.9 billion, yet he paid just $455 million in federal income taxes, a rate of only 3.27%

 

He paid tax on shares as opposed to on a regular wage, because his wage is zero.

 

Why are they the most “deserving” ?

 

SO WHAT? He paid tax on the gains he realized...................INCOME. Except for my first five working years I didn't make a wage. I made salary and commission and it was all INCOME.

 

And? We don't pay tax on wealth. We pay tax on INCOME. He paid $11B in taxes 2021 on the INCOME he took by selling shares he owned.

 

Absolutely! And hot peeps should only ever hookup with other hotties!! Duh!!!

 

Any and all taxes on everything.

 

They pay for everything in this country.

 

yup.
And than the tax-deductibles fly in so hard that they end up not paying taxes. Your shenanigans to deliberately omit this is just childish.

 

They hardly pay taxes and sometimes they pay no taxes at all, due to all kinds of tax deductible loop holes. What they do is use the infrastructure paid by taxes though, much more than anybody else.

 

they hardly pay taxes? LOL, the top one percent pay about 40% of the income tax and all the death tax.

 

they pay the lions share of the type of taxes that we are discussing

 

So what???? It matters when calculating your tax affairs. I don't know in the US, but here in the UK, there are rates and tables for salary income, rates on capital gains, rates based on trading shares, and so on and so on.

Any money going to you is income, but on a tax level, when you talk about income tax, you're generally meaning a tax on salary/wage.

As I own a Limited company, there's a income tax on a salary, corporation tax, vat, National Insurance, CIS etc.. So it very much does matter the correct terminology is used.

So if the company accountant went to a meeting ready to talk about income tax, he gathers the data up on the payroll, then finds out the CEO in the meeting says, "No shares income"........

Personally, terminology is important, well, it is in the UK

 

So, double the sales tax in shops.

Say you're a hard worker, you save well and it gets you a deposit on a small apartment and you buy it with a buy-to-let mortgage. You rent it out. As the years go on, you can buy another and by your efforts, you are now on a good income. Do you feel you should be penalised and pay a bigger percentage of income tax?

 

Exactly. They must pay a certain amount, and than they got a seemingly endless way to deduct things from that amount so they end up not paying jack all.
It's not hard to understand, but there is you.

 

The problem isn't what is taxed. The problem is what very rich people are allowed to deduct from the amount they must pay. And what those people can deduct is so much that they end up not paying any taxes. They arrange their finances around this on purpose. They are laughing their butts of that Joe the plumber can't and ends up paying for all the general upkeep that rich people end up getting for free, as in the use of highways for their companies.

 

The rich pay the majority of income taxes. If you want to define rich then you can find out how much a group pays.

 

https://www.teenvogue.com/story/why-billionaires-dont-pay-taxes

 

https://taxfoundation.org/data/all/...e bottom 50 percent (3.5 percent). More items
Maybe a better source than teenvogue.

 

Actually, as a percentage of income, they pay less….

 

not in terms of federal income taxes. the top one percent make 20% of the income and pay almost 40% of the income tax. The bottom 50% make about 12% of the income and pay less than 5% of the income tax

tax warriors like to try to include stuff like sales tax, hunting licenses, car registrations in the overall tax burden to pretend the income tax rate should be more progressive than it is. Not valid

 

leftist tax warfare advocates want to pretend billionaires and the rich are the same thing. There are less than 800 billionaires in the USA so demanding the "rich" pay more taxes based on a group that is .0000023 of the population is specious bullshit.