What's up with some (on the Left, to be specific) talking about wanting the wealthy - the top 1% (or 0.1% etc.) - to pay their fair share in taxes, then calling for their tax bracket rate to be something that's as absurdly high as 70%, maybe more?

When it involves brackets, it's dishonest to speak of some higher bracket as being a fair share; it makes no sense. A fair share tax rate is simply one that's the same for everyone; when it's a percentage, fairness is already built into it.

For example, let's take a 10% tax rate for everyone; if you compare what someone who makes $40k/yr were to pay in taxes to what someone who makes $500k/yr were to pay in taxes (and you have some basic math skills), you would discover (if you don't already know) that someone who makes $500k/yr is paying more in taxes than what someone who makes $40k/yr earns in a year.

If, for whatever reason, you don't know how to calculate this, I'll do it here for you; it's actually easy to calculate with the use of a 10% tax rate as an example, because all you have to do is move the decimal point and you don't even need a calculator:

10% of $500k/yr for 1 year is (10%) x ($500k/yr) x (1 year) = 0.1 x ($500k) = $50k

Is it fair that an individual who makes $500k/yr is paying more in taxes than someone who earns $40k/yr earns in an entire year? The individual who makes $500k/yr is paying $10k more than what someone who earns $40k/yr earned in an entire year, yet it's fair given that both pay the same tax rate, by a tremendously large factor of 12.5 to 1 ($500k/$40k = 12.5).

The fact that there are brackets means it already unfair in favor of the individual who makes $40k/yr. Suppose the tax bracket for the individual who earned $40k/yr is 4% instead of 10%; that makes the ratio a whopping 31.25 to 1 (that's (500 x 0.1) / (40 x 0.04) = 50/1.6 = 31.25).

This means that with a bracket rate of 4% for someone earning $40k/yr and 10% for someone earning $500k/yr (BTW, the end result isn't that much different when taking into account the marginal difference, especially for those who make far above $500k/yr), for every dollar that the $40k/yr individual pays, the $500k/yr individual is paying around $30.

If the individual making $40k/yr doesn't think it's fair that they're only paying $4k in taxes (for a 10% rate) while the individual who makes $500k/yr is paying $50k in taxes, would they consider it fair if instead of that, the individual who makes $500k/yr were to only pay the same amount, $4k? Logically speaking, that can be considered fair.

When it involves brackets, it's dishonest to speak of some higher bracket as being a fair share; it makes no sense. A fair share tax rate is simply one that's the same for everyone; when it's a percentage, fairness is already built into it.

For example, let's take a 10% tax rate for everyone; if you compare what someone who makes $40k/yr were to pay in taxes to what someone who makes $500k/yr were to pay in taxes (and you have some basic math skills), you would discover (if you don't already know) that someone who makes $500k/yr is paying more in taxes than what someone who makes $40k/yr earns in a year.

If, for whatever reason, you don't know how to calculate this, I'll do it here for you; it's actually easy to calculate with the use of a 10% tax rate as an example, because all you have to do is move the decimal point and you don't even need a calculator:

10% of $500k/yr for 1 year is (10%) x ($500k/yr) x (1 year) = 0.1 x ($500k) = $50k

Is it fair that an individual who makes $500k/yr is paying more in taxes than someone who earns $40k/yr earns in an entire year? The individual who makes $500k/yr is paying $10k more than what someone who earns $40k/yr earned in an entire year, yet it's fair given that both pay the same tax rate, by a tremendously large factor of 12.5 to 1 ($500k/$40k = 12.5).

The fact that there are brackets means it already unfair in favor of the individual who makes $40k/yr. Suppose the tax bracket for the individual who earned $40k/yr is 4% instead of 10%; that makes the ratio a whopping 31.25 to 1 (that's (500 x 0.1) / (40 x 0.04) = 50/1.6 = 31.25).

This means that with a bracket rate of 4% for someone earning $40k/yr and 10% for someone earning $500k/yr (BTW, the end result isn't that much different when taking into account the marginal difference, especially for those who make far above $500k/yr), for every dollar that the $40k/yr individual pays, the $500k/yr individual is paying around $30.

If the individual making $40k/yr doesn't think it's fair that they're only paying $4k in taxes (for a 10% rate) while the individual who makes $500k/yr is paying $50k in taxes, would they consider it fair if instead of that, the individual who makes $500k/yr were to only pay the same amount, $4k? Logically speaking, that can be considered fair.

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Sabcat