The poor don't pay their fair share

Obama said everyone needs to pay their fair share. Warren Buffet said that the rich pay less than an average secretary.



This to put it mildly is crap. The middle class and the poor pay very little in taxes in proportion to their income.



Tax Calculator:

http://ift.tt/1u3rDKv



Example 1: Middle class family earning the median income

Married couple, 2 kids

50K annual income

$366 of federal taxes

or 0.72% wow!



Example 2: Single Wealthy Guy

Single

150K income

$32,334 federal taxes paid

21.5% tax rate



Example 3: Rich Capitalist

500K in investment gains realized

100K in taxes

approximately 20%, this is approximate since the rate is 15%/20% based on the brackets. This also doesn't take into account inflation, if this had been invested since 2000 the real return would have been zero.





Example 4: Obama's example in state of Union

Single mother

2 Kids

25K in income

Taxes Paid = -$5,535



Yup you read that right, she gets a check from the government for FIVE THOUSAND DOLLARS!!!!!



How in gods name does anyone say that the Rich don't pay their fair share???



Again this doesn't include the death tax, payroll taxes, sales taxes or other host of taxes. But it gives you a sense of how unfair our system is. It gives you a sense of how little people pay at the expense of others.

via International Skeptics Forum http://ift.tt/1BYyOGD