So where IS the Fair Share line/limit?

[Jersey mike]

James Clyburn says taxes need to be raised on the wealthy but he admits he doesn’t know where that line is, but his staff will figure it out. It seems like the line continues to move the more free stuff continues to be given away.

https://www.foxnews.com/politics/james-clyburn-rich-fair-share-taxes-cavuto

Biden has said he will raise taxes on anyone making $400,000....this isn’t a lot of money.

N.J. Gov. Murphy just announced his new tax plan raising taxes on anyone making $1M or more to 10.75%.


https://www.nj.com/politics/2020/09/murphy-says-hell-sign-nj-budget-with-700m-in-tax-hikes-and-45b-in-borrowing-as-is-next-week.html

“ The millionaires tax will increase from 8.97% to 10.75% the tax rate on gross income between $1 million and $5 million. Income above $5 million is already taxed at that top marginal rate.”


“ The budget also will extend a 2.5-percentage point surcharge on the corporation business tax for businesses in New jersey with more than $1 million in profits that was in the process of phasing out. The 11.5% top tax rate is instead scheduled to sunset in December 2023.”

[RP#62]

Anytime I hear one entity talk about another entity "giving their fair share", it makes my skin crawl.

-RP

[carolinarider09]

I am not a lawyer or an accountant (although I did stay at a Holiday Inn in recent weeks) but the only fair tax is a flat tax.  

Your income is taxed at the same rate independent of what that value is.  And yes, I suspect there might be ways to get around that as well, but, its the only fair way to set up a personal income tax.

You can set a limit for taxes (no tax on income under X).  I might be able to accept that.  

But, every time they set up these tax laws is seems that idea is to breakup the people into groups so they can pander to the groups for votes.  (another reason for term limits.).

(Edited to correct some spelling issues).

[Pappy!]

What every one of those (usually Democratic) Politicians fail to mention is that the "Wealthy" will just make it back up on the retail end.....which means we will all pay more for the product and the taxes imposed to purchase.
Funny how that works, isn't it.

[Oss]

The other side is to require those getting money to do something for that free money



There is almost always something a person can do........... like field telephone calls or pick up after the animals who throw their garbage on our city streets

Eliminate legislative perks like lifetime health care and pensions

If court is not open no pay for judges  Watch them open right up

[old2soon]

       The people Spending OUR tax monies Really NEED to be held to a much higher standard then they have been. How long would You stay with a broker or a banker that constantly loses YOUR MONEY? How long would the dumbkoffs spending OUR Money stay with Their broker or banker if those folks constantly lost Their money?? RIDE SAFE.

[..]

It will never be enough.

The more they take the more they spend.

It's a never ending vicious circle.

[Rams]

I am not a lawyer or an accountant (although I did stay at a Holiday Inn in recent weeks) but the only fair tax is a flat tax.  

Your income is taxed at the same rate independent of what that value is.  And yes, I suspect there might be ways to get around that as well, but, its the only fair way to set up a personal income tax.

You can set a limit for taxes (no taxies on income unto X).  I might be able to accept that.  

But, every time they set up these tax laws is seems that idea is to breakup the people into groups so they can pander to the groups for votes.  (another reason for term limits.).

   I whole heartedly agree.   A flat tax is really the only fair tax.   I don't mind paying my "fair share".   It's part of the price of freedom.  

Now, reduce all of the "Social Entitlement" programs so those that those who can work, seek work and I'll go along with lower incomes paying a lessor income tax.   No one should get a free ride.

Rams

[Patrick]

$400,000.00 isn't a lot of money !  Thats telling.

[Jersey mike]

$400,000.00 isn't a lot of money !  Thats telling.

On quick search the best I could do was an article from 2012...

https://www.usnews.com/news/articles/2012/12/18/how-rich-is-400000-where-you-live-obama-willing-to-raise-taxes


Along with this;

https://www.statista.com/statistics/203183/percentage-distribution-of-household-income-in-the-us/