How much tax is a ‘fair’ tax?

I keep hearing Barack Obama talk about how he wants to get rich people to pay their ‘fair’ share.  So what is a fair share?  Can any of our left leaning friends on this website define for me what ‘fair’ is?  So far, all I know is that ‘fair’ somehow means ‘more’.  

This is a serious question, and I would be saddened if the left (CVIM, Festus Malarkey) overlooked this opportunity to help me understand what fair is, so I can be more in tune with their logic.

Perhaps you can give me a number?  Is 20% of income fair, or 30% of income, or 70% of income?  And how did you arrive at that number?

Or, don’t use numbers.  Tell me what it is you think our tax system should do/provide/offer.  i.e. provide for these programs 1…2…3…4  etc.. based on this logic….

Here is your chance to really define the ‘fair’ tax for me….

About Vote3rdpartynow

  • The most important thing to make the system fair would be to make the short and long term capital gains tax rates the same as income tax rates.

    The top bracket for income and capital gains taxes should be no more than 40% IMO. Currently the top income tax bracket is 35%, but I think it should go back to 39.6% like it was in the 1990s.

    Before 1980 the top bracket was much higher than even 40%, reaching 50%, 70%, and even 94% at some points, but I don’t think it’s necessary to go that far:

    http://ntu.org/tax-basics/hist

  • Despite all the whining about Bush tax cuts, the estate tax cuts in his package did expire.

    So, roughly, estate in excess of one million are at 55% rate – while any thing below that is 0%.

    I’s also like to hear how property taxes are not fair, considering that people who rent pay 0%.

  • gary

    14.2857%.

    That is, according to Joseph when he told the Pharaoh to put away wheat during the 7 years of good crops to use in the following 7 years of famine.  So, 1/7 or 14.2857%.

    Compare that to current US stats:

    GDP of $14.12 trillion and 3.55 tillion of federal spending.  If only taxes are used, and no debt or fees, then that’s a 25.14% effective/average income tax rate.

  • geo999

    Obama acolytes subscribe to the progressive theory of enoughness.

    Anything over and above what they determine to be “enough” for an individual’s needs should be returned to the collective.

  • Vote3rdpartynow

    I was truly hoping that a good dialogue would occur with CVIM and Festus and Malarkey.  I gave them a chance to have a civil debate on a matter that seems to be spoken of every day by the President of the US.  They backed down.  Too bad….

    I guess they don;t have an answer.

  • http://www.nationalreview.com/

    During your bus tour this week you repeatedly called for “shared sacrifice” and for the “wealthy” to pay their “fair share” in order to reduce the federal deficit and debt. According to the latest IRS data:

       The top 1 percent of income earners pay 38 percent of all federal income taxes. They earn 20 percent of all (adjusted gross) income.

       The top 10 percent of income earners pay 70 percent of all federal income taxes. They earn 55 percent of all income.

       The top 25 percent of all income earners pay 86 percent of all federal income taxes. They earn  67 percent of all income.

       Approximately half of U.S. households pay no federal income taxes whatsoever.

    From which of the above categories do you want more “shared sacrifice?”

    Do you want those in the top 25 percent of income earners to pay more than 86 percent of all federal income tax? If so, how much more?  

    Do you maintain that the top 25 percent should pay more federal income taxes because they use federal government services or benefit from federal government programs more than those who pay no federal income taxes? If so, which specific federal programs/services provide more benefits to the top 25 percent than to those who pay no federal income taxes?

    What, if anything, should be the “fair share” paid by those presently paying no federal income taxes?

    The threshold adjusted gross income for the top 25 percent of income earners is $67,280.  Do you consider that “wealthy?”