Nov 19, 2013

Poor people really don't know that they are taxed so extremely

From Wiki.US Income Tax Rates
This is what we are told, and what we believe. The richer pays a higher rate of tax.

So we thought the poor has a good time, as far as tax is concerned.

The truth is exactly the reverse.

The truth is this. The poor pays close to 100% tax. Here is a Singapore example.

All his citizen dividend (easily estimated at $10,000 for USA) is 100% taxed away.  For a poor family of 4, that means their $40,000 citizen dividend is 100% confiscated.

As far as tax rate is concerned, the rich is having a good time. The poor faces total 100% confiscation.

(This post is a response to the article by the London mayor hailing the wealthy as tax heroes.
We should be humbly thanking the super-rich, not bashing them - Telegraph:  BORIS JOHNSON
The poor should get Victoria Cross medals for their tax sacrifices.)

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