outlawauron said:
Teeqoz, for a bright kid, you really don't know what you're talking about here. Low income earners pay no taxes. The people making minimum wage and just above pay zero federal taxes and it's been that way for years. Even when I was making $10/hour in 2011, I paid no federal taxes. The only rich people are able to pay reduced taxes is by making tax deducition expenditures. This how charitable giving is incentivized. |
The key there is federal tax. They still pay FICA and state/county/city income tax. Also, there is property tax, sales tax, etc. they contribute.
A big reason wealthy get taxed differently is most of them have large source of income via investments or capital gains which is taxed differently from earned income. This is why it is possible for someone making more money to be taxed at lower percentage.
