posted on Mar, 21 2009 @ 02:23 AM
reply to post by Zarniwoop
Because they can afford to pay more and still live very comfortably.
If I pay 15 percent on lets say 30,000 then I pay 4500. I am left with 25,500 take home.
If I make 250000 and I pay 33 percent then I pay 82,500. I am left with 167,500.
Who is able to live more comfortably? The one making 25,500 a year or the one making 167,500?
Now that is using the current tax bracket.
Lets say they lower my tax percentage to 10 percent.
I pay 3000 and am left with 27,000. Still not alot, but I have lived on worse.
Now raise the 250,000 to 38 percent.
They will pay 95,000 and are left with 155,000. That is a very comfortable.
Who is worse off. Which group would you want to be part of?