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Re:Federal Reserve raises rates by 0.75% by JaimeThompson on Wednesday June 15, 2022 @03:18PM (#31757997)
>Every single of the thousands of innovation that goes into an iPhone was subsidized by rich venture capitalists and rich early adopters

Don't forget the governments which helped fund the basic research used to make such things, the middle and lower classes that pay more in property taxes so companies can be bribed to build factories, and other such things.

Put another way it's a much more complicated picture than just those two.

Re:Federal Reserve raises rates by 0.75% by nemo44x on Wednesday June 15, 2022 @03:30PM (#31758166)
Wealthy people pay almost all the taxes. the top 10% pay 71% of taxes and the top 25% pay 87%. 75% of the country contributes nearly nothing but complaints.
Re:Federal Reserve raises rates by 0.75% by JaimeThompson on Wednesday June 15, 2022 @04:08PM (#31758755)
>75% of the country contributes nearly nothing but complaints.

Only if you ignore sales tax, car tax, property taxes, and other such taxes.

The top 10% typically included major corporations but without a source I don't know if the percentage you use does.

Re:Federal Reserve raises rates by 0.75% by nemo44x on Wednesday June 15, 2022 @04:38PM (#31759160)
Sales tax, property tax, fees, etc are a rounding error essentially and are local. At a Federal level they are meaningless.

Saying that I'd be all for a Federal sales tax of 20% if we could nearly eliminate income taxes.

Re:Federal Reserve raises rates by 0.75% by mbfg on Sunday June 19, 2022 @02:28PM (#31801969)
A much higher percentage of what poor people buy is necessities compared to their salaries. They have much less choice as to buy or not. If a rich person were to buy at the rate a poor person does, it would be almost completely on frivolity. Sales taxes, imo, are especially targeted at the poor.
Re:Federal Reserve raises rates by 0.75% by lovich on Wednesday June 15, 2022 @04:46PM (#31759267)
Why? That puts more of the tax burden on those with the least
Re:Federal Reserve raises rates by 0.75% by darth_avocado on Wednesday June 15, 2022 @05:32PM (#31759728)
No it doesn't. Those with less to spend also spend less.

Contrary to popular belief, the so called utopias like Sweden, tax the poor at almost comparable rates as the rich.

Re:Federal Reserve raises rates by 0.75% by lovich on Wednesday June 15, 2022 @07:37PM (#31760824)
Those who earn less pay less in income tax and we still had to implement a progressive taxation policy because of how much a flat tax percentage hurts those without disposable income compared to the wealthy.

The poor already spend all their money on necessities. If you go to a flat sales tax it will hurt them more than the current progressive regime and favor the wealthy.

Re:Federal Reserve raises rates by 0.75% by _-david-_ on Wednesday June 15, 2022 @06:52PM (#31760450)
You can exclude necessities from sales taxes and alleviate most of the taxes paid by the poor.
Re:Federal Reserve raises rates by 0.75% by NotSammyHagar on Thursday June 16, 2022 @12:43PM (#31768154)
You have to include payroll taxes, all taxes. The top few percent have most of the wealth, too. When you include payroll taxes the tax distribution is much more even.
Re:Federal Reserve raises rates by 0.75% by ChuckNorris89 on Wednesday June 15, 2022 @04:06PM (#31758736)
>Wealthy people pay almost all the taxes

#define WEALTHY

Re:Federal Reserve raises rates by 0.75% by baal80spam on Wednesday June 15, 2022 @03:41PM (#31758330)
> top 25% pay 87%

Wow, this is pretty eye-opening.

Re:Federal Reserve raises rates by 0.75% by RyanHamilton on Wednesday June 15, 2022 @04:18PM (#31758884)
The 3 Richest Americans Hold More Wealth Than Bottom 50% Of The Country
Re:Federal Reserve raises rates by 0.75% by JaimeThompson on Wednesday June 15, 2022 @04:08PM (#31758767)
Only in regards to income taxes which may include large corporations. It doesn't include all the other taxes that nearly everyone pays.
Re:Federal Reserve raises rates by 0.75% by nemo44x on Wednesday June 15, 2022 @04:42PM (#31759205)
It is but it isn't surprising. Pareto Principal and all. So naturally, 20% of the people contribute 80% and 80% of the people contribute 20%, or thereabouts.

The bottom 50% contribute nothing and in fact are a net negative contributor when you consider welfare, housing, etc, and other benefits. Of course, this doesn't stop certain scumbag pols like Warren from lying to them that it's the other half that's ripping everyone off.