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Re: King Donald




My bloviated meandering follows what Wolf K. graced us with on 2/20/2017 8:51 AM:
On 2017-02-20 11:34, Sailfish wrote:
My bloviated meandering follows what Wolf K. graced us with on 2/20/2017
7:10 AM:

And most of all you're forgetting that since the debt was privatised,
there is every incentive to keep those interest payments transferring
money from the "little people" to those who don't pay taxes.

Ref:
http://www.pewresearch.org/fact-tank/2016/04/13/high-income-americans-pay-most-income-taxes-but-enough-to-be-fair/ft_15-03-23_taxesind/
Itsy Version: http://tinyurl.com/gm6esu7

Not so much, mostly the better-off are paying the brunt of it, no?

Income tax rate on interest (and dividends and capital gains) is lower than an hourly pay and salaries.

Income Tax revenue for 2016 was $3.27T USD, see
http://www.usgovernmentrevenue.com/federal_revenue

Using the chart from above, from people making $100K and more, that works out to be close to $3T being paid by them. For those working hourly wages (<$50K ~50%) that has them paying $0.2T, see
http://www.npr.org/sections/money/2012/07/16/156688596/what-americans-earn

If your point *NOW* is that the rich make oodles more than middle or lower classes, I'll not argues the obvious. But, as to your original point, it is also quite obvious that the "little people" are not the ones paying the debt interest payment.

--
Sailfish
Rare Mozilla Stuff: http://tinyurl.com/lcey2ex
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