Here are excerpts from postings I read on the internet.
A guy named Jake stated...
"The Republicans only want the best for their wealthy friends while middle class makes all the sacrifices.
The reply to Jake was... in kind of a sarcastic way...
"Hey Jake Top 1% of earners pay over 40% of all taxes. How much more should we pay?"
I will attempt to answer the question (How much more should we pay?) with an example below.
EXAMPLE of WHY TO PAY MORE TAX
| ||||
TOP (Wealthy)
|
1%
|
Of Earners Pay
|
40%
|
Of All Tax
|
BOTTOM (Not so wealthy)
|
99%
|
Of Earners Pay
|
60%
|
Of All Tax
|
Let's say TOTAL TAX is =
|
$1,000,000
| |||
It then stands that TOP Pay
|
$400,000
|
TAX
| ||
It then stands that BOTTOM Pay
|
$600,000
|
TAX
| ||
Now, let's say we have
|
100
|
Old College Buddies
| ||
Only
|
1
|
Of them is in the TOP
| ||
Therefore
|
99
|
Of them are in the bottom
| ||
Thus each of the TOP Pay
|
$400,000
|
TAX
| ||
Thus each of the BOTTOM Pay
|
$6,061
|
TAX
| ||
Now since TAX is a percent of earnings,
| ||||
then lets estimate earnings
| ||||
Lets estimate TOP tax rate at
|
30%
| |||
Lets estimate BOTTOM tax rate at
|
15%
| |||
Then TOP EARNINGS IS
|
$1,333,333
| |||
Then BOTTOM EARNINGS IS
|
$40,404
| |||
Now, let's say all the buddies decide to take
| ||||
a flight from US to Japan.
| ||||
Let's say the fuel for the flight cost
|
$2,500,000
| |||
All the buddies decide to share an equal
| ||||
amount of the cost from their EARNINGS
| ||||
Since there are
|
100
|
Buddies
| ||
Then their share is
|
$25,000
|
each
| ||
So now the TOP guy has
|
$1,308,333
|
EARNINGS Left
| ||
and each of the BOTTOM guys have
|
$15,404
|
EARNINGS Left
| ||
40% of the way across the ocean it is
| ||||
discovered that they made a serious mistake
| ||||
In the calculation of the amount of fuel.
| ||||
They recalculate that they were off by half
| ||||
In other words it will actually take
|
$5,000,000
|
of Fuel
| ||
They don’t have enough fuel left to
| ||||
turn around and they
| ||||
don’t have enough fuel left
| ||||
to make it to Japan, so they either
| ||||
Crash or get more fuel.
| ||||
So they call up the mid-air refueling
| ||||
service, it will only cost you
|
$2,500,000
|
for more fuel
| ||
OK guys, let's just chip in like before
| ||||
TOP guy chips in his
|
$25,000
|
each
| ||
BOTTOM Guys, chip in their share…
| ||||
HOLD ON HERE… their share is
|
$25,000
|
each
| ||
but they only have
|
$15,404
|
each left.
| ||
Or a total between them of
|
$1,524,996
| |||
So, the best they can do is the BOTTOM guys can only pay
|
$1,524,996
| |||
If the TOP guy pays his share… which is
|
$25,000
| |||
Then they only have
|
$1,549,996
|
For fuel
| ||
NOT the
|
$2,500,000
|
they need
| ||
Since the BOTTOM guys are now broke
| ||||
then there only choices are…
| ||||
CRASH & BURN, or the TOP guy make up the difference of
|
$950,004
| |||
So the TOP guy decided to make up the
| ||||
difference, so when they arrive in Japan
| ||||
the TOP guy has
|
$333,329
|
Left
| ||
and the Bottom Guys have
|
$0
|
Left
| ||
So, the TOP guy got screwed, because of a
| ||||
DUMB mistake but at least they are all alive
| ||||
NOW substitute TAX for FUEL. Same scenario.
| ||||
You gotta have it before you can spend it
| ||||
So, when the little guy is BROKE then…
| ||||
either CRASH and BURN
| ||||
or have the TOP guys make up the difference
| ||||
So to answer the question
| ||||
How much more should we pay. Well, that is up to you…
| ||||
Your choice… Stay alive or CRASH & BURN… I am BROKE.
| ||||
Just Say'n
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