Wednesday, December 26, 2007

Taxes are unfair - American Goy's take on the US taxation system

In my research (limited by my obvious idiocy - it's a birth condition, so give me a break OK?), I have looked at my taxes. And taxes of my parents. I looked for a way that I could pay less taxes than I was paying at the time. And there is one, very simple, obvious solution.

Become rich.

In Yoo Ess of Ey, the richer you are, the less taxes you pay.

Now many Americans will become red in the face, grab a gun and a torch, and a made-in-China american flag, and go after me with cries of commie, pinko, lib, and perhaps other names. Please, put your gun down - you are liable to hurt yourself. Settle down. Lemme explain.

It is true that a rich billionare pays a bigger amount of money than the idiot you are currently reading. No question. I pay in thousands, he/she pays in tens of thousands. But that billionare is still paying less than you.

Hey! Sit down! I said settle down and put the guns on the school desks (and the torches in the bucket of water o'er there...).

The thing is all about the %. Whereas the majority of the US citizens pay about 30% of their income (I am not counting how much you pay for a sales tax. I don't want you to have a heart attack), the 2% of the population here pays much less. In a % sort of way.

For example, take Mr. Warren Buffett, the 3rd richest man in the world. Here's what he said (money, man, on the money this):
"Mr Buffett said that he was taxed at 17.7 per cent on the $46 million he made last year, without trying to avoid paying higher taxes, while his secretary, who earned $60,000, was taxed at 30 per cent.".

Now in all the European countries, the reverse is the case - the rich pay %-wise more than the middle class and the poor.

In Yoo Ess of Ey though, the poorer you are, the MORE taxes you pay.

Why is that? Perhaps this short youtube video explains it all:

Bush's base

The article that I quote can be found here:

Warren Buffett on USA taxes

I heartily recommend reading it.

Since I am a pompous idiot, I will now recommend my view on how to fix this unfairness. It is simple, it is very easy to explain, it is really quite idiotically easy to do.

Simply tax everybody the same % on their revenue.

Whether you are a Warren Buffett or an ukrainian maid.

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1 comment:

Anonymous said...

The top 5% of income earners in the US pay over 50% of the tax revenues paid to the US Government.