By using this site, you agree to our Privacy Policy and our Terms of Use. Close

Forums - General Discussion - What % of tax revenues should the rich (top 5%) pay?

I was thinking about this for the past few days. I found some data on this, which surprised me. I asked my wife what she thought was an acceptible amount to pay, only to find out that she gave a number that is half of what is actually the case in the US.

It's a very simple poll question: When it comes to taxation, what percentage of all taxes collected should the 'rich' (top 5%) pay?

Admittedly, the answer could vary by country, as the distribution of incomes vary from country. The top 5% in America earn about 33% of all income in America. In countries with a lower GINI coefficient, I would imagine this number is smaller.

*edit: I just realized that I didn't add a poll when I started the thread. I thought it had to be done after the initial thread was posted :-*



Back from the dead, I'm afraid.

Around the Network

10% or so, same as everyone else.



50% and thats taking it easy 



40%



"I don't understand how someone could like Tolstoy and Dostoyevsky, but not like Twilight!!!"

"Last book I read was Brokeback Mountain, I just don't have the patience for them unless it's softcore porn."

                                                                               (The Voice of a Generation and Seece)

"If you cant stand the sound of your own voice than dont become a singer !!!!!"

                                                                               (pizzahut451)

~30%, but they have to actually pay it on income generated anywhere in the world and the law made so simple that tax avoidance is not possible. Currently the problem isn't the rate but the fact that high earners pay good accountants to transfer income around so the actual amount paid is MUCH less than it should be.

@ramses01

What about in the UK, where income tax plus national insurance plus council tax (all universal and compulsory) is about 35% of one's income for the average earnerl? The rich pay less?



Around the Network

15% on the first 40k

20% on the next 50k

25% on the next 50k

30% on the next 50k

and so on untill 50%



Bet reminder: I bet with Tboned51 that Splatoon won't reach the 1 million shipped mark by the end of 2015. I win if he loses and I lose if I lost.

If a group represents 33% of income earned their portion of income tax paid should be somewhere in the 35% to 40% range. There may be some justification to tax people differently on the portion of their income that is necessary to cover their necessities, but I don't see any real justification on their disposable income.



Didnt they pay like 70% back during WWII?    That sounds like a good number



Interesting.

According to all responses, so far, the rich are taxed too much. At least in America, anyways.



Back from the dead, I'm afraid.

This is a hard one to answer, because what I'd want also assumes privatisation of many industries, leaving the EU, liberalisation of many laws (thus reducing costs on defence), and cancelling of lots of other programmes, subsidies and welfares.

Assuming that I had my way on all of the above, and the Governmental debt was 0 or close (like, under 10% of GDP), then I would see no valid reason for an income tax at all. At any level. Also, low capital gains, inheritance and corporation taxes.