[quote=poorgradstudent]I, for one, am quite jealous of those bottom 40% lucky ducks that don’t pay any federal income taxes. I mean, for one thing, they get to live on less than $35K a year, and you can buy a lot of ramen for that! Just because a lot of them are elderly, disabled and full time students doesn’t mean they shouldn’t pay their fair share, amirite? Let’s not let old people or college kids who don’t pay federal income taxes vote.
While 35K a year is a lot of money, you’re right that it’s hard to support a family on 200k a year! Having to choose between having a maid, sending the kids to dance lessons and having a math tutor is not fair! And god forbid you have to send your snowflake to *public* school.
Sure, the bottom 46% pay less proportionally in payroll taxes than those who cap out. They also pay a much greater percentage of their income in sales taxes, but who cares, right? Same percentage, must be fair. If they were smart they would invest some of that fat cash they are raking in and benefit from low tax rates on capital gains and dividends. It’s not our fault the poor waste all their money on their rent, food and health care. They need to learn to not eat and save.
Seriously though, this is America, we have a progressive tax policy. Greatest nation in the world. If you don’t like it, you can get out.[/quote]
Great post, poorgradstudent! Except for one caveat. When I was in my “FICA contribution years,” I had this continual vision where I (and my bretheren) were supporting the weekly salon visits of all these little old ladies who never worked (outside of the home) a day in their lives :={.
Their (inflated) SS benefits (due to collecting on a spouse or fmr spouse’s work record) allowed them this pleasure and also to take the bus to an Indian casino or factory outlet to play with their friends 1-2x per month.
It didn’t seem fair that I couldn’t afford any salon, casino OR factory outlet visits and moreover, did not have the leave from work available to do so.
Such is life … the unfairness of it all … I guess we can all find a reason to complain that we were born in the wrong era :=0
