"those who can pay more opt out"
Health insurance. Richer, tend to be healthier (no diseases of deprivation), pay lowered baseline taxes, proportionately smaller increment for PHI. Then could care less if everyone less well-off dies.
How does "reducing taxes benefit the rich at the expense of the poor"....????
Shift from income tax to sales tax (VAT) - disproportionate benefit to those who can afford to shop abroad, and/or earn enough to save (so do not need to spend all income just to survive), and/or can use the particular ability of the rich to evade taxes - as they do, worldwide...
hence richer pay less %age AND have more absolute gain from lower unavoidable taxes.
How much does one have to earn where you are to be labeled "poor"......how much tax do they pay? </i.
NOt meaningful. 'Poor' is currently assessed in UK as below 50% median family income for median-size family. (i.e., <50% for 2 parents, 2 children approx); obviously varies by family size. Tax varies hugely by income, spending patterns, housing costs, etc... the richer lose less in tax as income increases. e.g., I as SWM pay ~45% in tax overall, including income, sales taxes, area taxes... still plenty left.
How much does one have to earn to be considered "rich"....? What percentage of their income do they pay in taxes?
Depends. My gf counts me as rich - I'm in top decile. OTOH, I pay ~45% (somewhat under 1/2) overall, covering all taxes and other unavoidable government/local charges. The *rich* (say, earning $5M+/year) pay nearer ~15% becasuse they have all kinds of havens, shelters, etc, have the accountants to find these, and don't spend most of their available income each year anyway... |
