My poly sci professor gave a convincing arguement about the fact that poor people pay more taxes than the rich. Although the poor may pay less income taxes, they have to pay moreof their income on regressive taxes (such as sales tax, excise tax, gasoline tax, property tax etc.) Since income earners of all tax brackets pay equal amount of regressive taxes, the poor end up paying a higher percentage of their income on such taxes.
He also mentioned that the rich use many loopholes and qualify for various deductions when the file their taxes. Thus, paying less taxes. According to an IRS study, 400 of the 1% earners (average income $126 mil) paid on average 22% of their income on taxes. Is that fair to you or what? I'd love to see your folks input.
He also mentioned that the rich use many loopholes and qualify for various deductions when the file their taxes. Thus, paying less taxes. According to an IRS study, 400 of the 1% earners (average income $126 mil) paid on average 22% of their income on taxes. Is that fair to you or what? I'd love to see your folks input.