What is a wealthy persons fair share of taxes?

Well, for starters I think the Buffett rule is a good one. A minimum percentage for anyone over $1 million. Do away with all deductions for anyone making more than that amount - BEFORE DEDUCTIONS. In addition, I think anyone making a profit on things he moved American jobs overseas for should be hit with a 50% tax on those profits.

Now, you tell me what a fair share would be for a family of four living on $30,000 a year. Or for a senior living on the $15, 000 a year some of them do. Subtract what you think is fair from their income and then compare it to what the upper percentiles have left after paying taxes.

I avoid language like "fair share" since it is loaded terminology. Nonetheless, I do believe in progressive taxation.

There is a valid concern that some very wealthy individuals pay a lower effective rate than middle class persons since they derive most of their income from capital gains rather than labor. This is not right. Capital gains need to be taxed as ordinary income for wealthy individuals, especially those who earn a living off of them.

The claim that 47% pay no federal income is true, but look at the demographics. The 47% consist mostly of the elderly (who paid income taxes throughout their lives), the disabled, students, and the working poor.

This idea that we should be comparing a hedge fund manager's tax rate with a retiree, a disabled person, a student, or the working poor is not a valid comparison.

Fair share means fewer tax loopholes to get around, fewer ways to avoid paying taxes which for the super wealthy involves tax havens and overseas bank accounts and investments sheltered from U.S. taxes. There is $21 trillion in assets owned by Americans that are not taxed here.

The recent income tax increase applies to those making over $400,000.

The bottom percentage of people earning too little to pay federal tax do contribute by paying state income tax. Wages are too low in this country. There are many others who pay no tax such as those living on Social Security only, those serving in the military, clergy, religious sects exempt from federal tax, and those on government aid.

gregory v helvering 293 u s 465: SCOTUS ruling from 1935. You have no obligation to pay anymore taxes than you are required by law to pay. And reducing your taxes to the minimum the law allows cannot be doubted. That was the finding of the court. So their "fair share" is as little as the law allows. That's your fair share too. How much time have you spent looking into how to use it to your advantage? None I'll bet. I've also noticed this proclivity lately where children seem to think that bc I've busted my a** to get ahead that I somehow owe them something. That it's somehow my obligation to subsidize their college... houses... whatever. I've got a news flash for you dude. You're spelling it improperly. It's "fare". Each person pays their own. The sooner you learn that the better off you'll be. Unfortunate? Yes. But it's a simple fact of life.

The tax rate used in the Clinton years was fair.

Anytime a net tax consumer receives representation without taxation, some net tax producer is forced to make due with less representation.

wijgc

If it were completely up to Democrats, anyone making over $200,000 should be taxes 90%

Obamas 18% must be fair since I don't hear liberals belly aching about it

Your fair share of the taxes is whatever you make past what welfare would give you.