Often overlooked when demonizing the richest 1% is that the vast majority of people are not filthy rich. A couple earning $389,000. is considered in the 1%. Minus taxes, that couple made just $250,000. Also overlooked is the percentage of taxes these people pay account for 35% of all taxes collected. The rich are paying for America's social programs, roads and infrastructure, schools and military budgets. At the same time, 50% of the population pays no taxes whatsoever. The vast majority of the 1% are small business owners providing jobs for the rest of us. More taxes have a detrimental effect on economic expansion. | Often overlooked when demonizing the richest 1% is that the vast majority of people are not filthy rich. A couple earning $389,000. is considered in the 1%. Minus taxes, that couple made just $250,000. Also overlooked is the percentage of taxes these people pay account for 35% of all taxes collected. The rich are paying for America's social programs, roads and infrastructure, schools and military budgets. At the same time, 50% of the population pays no taxes whatsoever. The vast majority of the 1% are small business owners providing jobs for the rest of us. More taxes have a detrimental effect on economic expansion. |