Of course your answer is to increase taxes on the rich. Wait, so you're saying a billionaire pays less taxes than someone who works min wage? Can you post evidence of this?
i keep hearing how the rich are not paying their "fair share" of taxes.
interesting, since the top 5% of earners in the U.S. pay the majority of federal
income taxes, contributing about 66% of the total.
In fact, the top 50% of earners account for nearly 98% of federal income tax revenue.
This means that the bottom half of wage earners pay only 2% of the federal income
taxes collected.
Seems like the tax system really unfair -- to the top 50%!!
Fair would be for everyone to pay the same percentage. The higher income earners would pay more than the lower earners but at the same rate.
Anyone earning below a certain threshold would be exempt from paying taxes
Careful what you wish for. Most people think fair is whatever you can take from someone who earned it. People see someone who isn't poor winning the lottery and complain that isn't fair. Those people think they need the money more than the winners, and the fair thing to do is to share the windfall with them -- i.e. tax the heck out of them and send them a tax credit "refund."
Have you ever gotten a job from someone who isn't considered rich? Most people in the top 50% invest in and/or own businesses which hire employees. They create more wealth by using what they already have or can borrow to build businesses that hire people. Taxing these top earners more and more means fewer jobs -- jobs that were being done overseas in many cases until Trump reduced the taxes these owners would owe if they brought that cash from banks overseas into the US for investing.