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The middle class is heavily burdened by taxes. If you run the numbers, this isn't really the case. The middle class is taxed lightly, relative to the benefits
by twoodfin 14y ago
The middle class is heavily burdened by taxes.
If you run the numbers, this isn't really the case. The middle class is taxed lightly, relative to the benefits they receive. Anyone who's done their income taxes has seen how many tax benefits start dropping off past $60K or so. The top 10% or so pay the majority of income/Medicare/Medicaid taxes, and the way the Social Security benefits formula works, they're also heavily subsidizing the middle class through that program.
That makes some sense, of course: There are way more middle class voters than any other class!
- kamaal 14y agoThat is partly also because people who earn more, do work in a non linear relation with the money they get. The tax slabs you talk about apply only to probably 10% of most rich citizens in a country. If you take all this into consideration. The rich still with their higher tax slabs don't contribute as much taxes as the middle class. As you mentioned that's because the middle class are larger in number. Also note that I'm not just talking of the US. Throughout the world, the rich really find ways of getting away with taxes.