The debate rages on whether the top income earners who pay most of the federal taxes or the bottom 47% who pay little-to-none of the federal taxes, should pay more taxes and help our country. Clearly, the answer is that everybody should pay some federal taxes, since everybody is benefiting from the federal government.
Have you ever stopped to think who is really being screwed here? If you are paying little-to-no federal taxes, is the government, rich people, and corporations really screwing you? If you are in this situation, are you hoping to pay more taxes so you can get screwed more? You can’t have it both ways now.
Perhaps the people really being screwed are the “HENRYS”, the Higher Earners Not Rich Yet folks who are in the top income tax brackets (33%/35%), and who don’t make the majority of their income from dividends and long term capital gains which are taxed at 15%? This is something to really think about here, because for some reason, people equate the Top 1% with the Top 0.1% who are indeed like Warren Buffet paying a lower tax bracket than many of us middle class citizens.
Here’s a quote from Edward which sums up the point quite well: