Response to taxes are complicated
After several weeks of reading the letters to the local paper on who pays what for taxes it is quite amusing to say the least.
Mr. Green’s visions of someone making $10,000, or lets even up the anti to $30,000, for annual income pays 20 percent taxes…Well now lets break this down being 51 percent of Americans pay taxes. Someone who may have tax exemptions withdrawn for their paychecks at this level will get a full or near full refund at the end of the year…This is a fact my friend….Secondly let’s assume someone is at this income level and has two or three children then it is entirely possible they would get more then what they paid in because of the child credits. Your philosophy of who pays the most taxes is very incorrect.
So if we want everyone to have skin in the game let’s go to a flat tax of 15 to 20 percent for everyone. I am all for that. After tax refunds, Mr. Green who then has more skin in the game. Lastly I travel throughout Minnesota and have had some pretty wealthy businessmen show me their payable taxes. Just a suggestion “careful what you ask for because it could come true.” Also do the math on the 9 percent of the 450,000 salary versus 20 percent of 10,000 salary in which they receive 18 to 22 percent back from tax returns.