Quote:
Originally Posted by TomC
You are correct. The old trope that the rich don't pay their fair share or that "back then" the wealthy contributed more just won't die... From an article just out from the Cato Institute: "A t the federal level, the top 10 percent of income earners pay more than 60 percent of all taxes and 72 percent of income taxes, shares that have been increasing over time. " You can read it for yourself here: https://www.cato.org/blog/tax-day-fi...-pays-how-much
As was said earlier in the thread, we have a spending problem not a revenue problem... |
True, the top 10% pay more. They also control a much larger share of the wealth than ever before. And, the top 1% control upwards of 30% of the wealth so of course they should pay more. Related, each year upwards of 500 billion dollars of taxes owed are not collected - an it's not the people at the bottom who are not paying.
The end result is that maybe NH's reliance on property tax is the way to go. Choose to live in a low value home, pay less. Can't afford to keep paying your taxes. move somewhere else. Let the voters decide the budget and tax accordingly