In a message dated 4/13/2007 1:32:13 A.M. Central Daylight Time,
Jan@xxxxxxxxxxxxxx writes:
The point is it's a regressive tax -- once you pass $97,500 (about
$30,000 more for the Medicare portion), you're out of this tax, scott
free.
Your benefit is also capped for this insurance program, as it should be.
The benefit at the lower end is disproportionately high as a function of
function of premiums (taxes) paid as compared to those who have paid premiums
at
the maximum. Some might say that is a regressive benefit . . . . more benefit
to those who paid the least.
US taxes are heavily weighted toward the middle class, taking a big
cut (as you can see) at ~$100,000. Plus those who make lots more can
afford accountants and lawyers who can get them out of even more taxes.
The top 10% of those paying federal income tax, pay approximately 65% of all
personal income tax paid. The bottom 50% of those earning income, pay less
than 5% of all personal income taxes paid. That leaves about 30% of all
personal income taxes to be paid by the remaining 40% of income earners. That
is
hardly a system weighted toward the middle class. One might say that the US
personal income taxes are very heavily weighted toward the top 10%. Others
might even say that many get a free ride (or nearly a free ride) when it comes
to paying for the goods and services provided by the US government.
So I will now take the balance of my can of kerosene and leave.
Bill Barber
OM content: Took my students to the High Island rookery yesterday on a
field trip on what had to be one of the prettiest days of the year. It was
cool,
breezy and almost no mosquitoes. We only had one roll get torn in two
because someone forgot to turn the rewind lever before rewinding and only one
person thinks they didn't load their film correctly and made 24 empty
exposures.
The birds were doing bird things and that was why we were there. A great
today. Today will be another great day.
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