smarandr
Well-known member
I don't want to wade into the debate of who should pay more and who should pay less. Both sides of this argument have very valid points. However, I always warn my clients to be careful what they wish for when they advocate for this idea that everyone should pay their tax as correlated with their percentage of the income pie.
As illustrated in the attached file Taxpaying Couple 2 (which is where most of America is) would see their federal income taxes just about double. I don't know about the rest of you guys, but it would be tough for me and my family to swallow doubling up on our federal income taxes so that #6 can have his taxes cut by 13%.
This chart is based on 2012 income tax rates for joint filers. Taxpayers 1-5 have taxable incomes right smack dab in the middle of their income tax bracket, and Taxpayer 6 is a figure that approximates NHY's 43% of the income pie.
As illustrated in the attached file Taxpaying Couple 2 (which is where most of America is) would see their federal income taxes just about double. I don't know about the rest of you guys, but it would be tough for me and my family to swallow doubling up on our federal income taxes so that #6 can have his taxes cut by 13%.
This chart is based on 2012 income tax rates for joint filers. Taxpayers 1-5 have taxable incomes right smack dab in the middle of their income tax bracket, and Taxpayer 6 is a figure that approximates NHY's 43% of the income pie.