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How tax breaks help the rich

heropsycho says...

Getting soaked is a crock of BS. They're paying often times 20% effective tax rates.

And when income and wealth inequality is as bad as it is today, what you're pointing out points to how ridiculous the economic system is when almost half of Americans pay no federal income taxes and still see their effective income drop over the last four decades, while the rich have experienced steady income increases during that time.

IE, the inequality is so great, even if you literally don't have people pay taxes, it's still resulting in growing wealth inequality.

And I'm sure you're gonna claim that I'm suggesting pure income/wealth equality is what we want, which I'm not. However, it is absolutely essential to a functioning market economy that wealth and income inequality do not become too great, as that was one of the contributing factors to the Great Depression. If the economic lower class does not have money to purchase goods and services the businesses owned by the rich produce, those businesses will inevitably decline.

bobknight33 said:

The rich might get better value on their deductions but they still get soaked more in taxes overall.


The top-earning 1 percent of Americans will pay nearly half of the federal income taxes for 2014
Top 20% of Earners Pay 84% of Income Tax
And the bottom 20%? They get paid by Uncle Sam.

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