You are obscuring the issue by trying to pin down a hard number for INCOME TAX.
That is not what I said.
As I see it, if I have to pay more in taxes (my fair share), those receiving the benefit of those taxes need to pay their "fair share" by receiving a corresponding DECREACE in what they receive from the government.
And, I did not limit it to FEDERAL taxes.
The point of discussion is the debt. To solve the increase in debt, stop spending.
Reducing the payroll tax (Social Security contribution from the individual) is not helping matters. That just ensure the Social Security system exhausts its fund faster. Then what?
Oh yeah, tax the rich more....
Just who are the rich and how much more can you tax them??? I have seen conflicting reports that indicate that if EVERY dollar of wealth accumulated by the nebulous "1%" were applied to the federal government spending, it would keep cover about 6 weeks of Federal spending.
Wow, at that rate, increasing the tax rate is bound to provide maybe a day or 2 of spending coverage.
The government (local, state and federal) have a spending problem. Giving them more money is not solving the spending problem.
Chicago teachers receive an average of $74,000 per year. And, they want a 34% pay increase??? Oh, they did settle for a 16% increase.
Who is paying that increase??? Most of the cost will be absorbed by local taxpayers. The rest will be absorbed by state. And, given the funding mechanism for schools, that impact will be felt nationwide.
The "me, me, I want my share" is going to continue until the fiscal cliff arrives and there is no more largess for the politicians to dole out.
Then what????
