Should the top 1% pay more?

@Davidarendale0 irrational???????

@firefall Irrational.

Yes it's irrational. There's no reason to hate rich people as a group. Sure there are bad rich people. Hate them because they're bad people not cuz they're rich. Is it rational to hate someone for being rich as it is to hate them for being healthy.

@Davidarendale0 You're right. The richest one percent in the U.S. only have as much wealth as the lower 90% combined. Check it out. That's true.
Don't quite get the class warfare thing or why you're protecting the very wealthiest. You must make serious grown up money. At least $5M a year. If so...congrats.

@katielass [@firefal

@Davidarendale0 The top 1% do own alot, but not 99%, I like this break down ..

@Ynotisay I don't care about the rich they'll get by just fine it's just the ignorance irritates me.

@Pherick that chart measures net worth not income. If anything it illustrates how effectively people at different income brackets use their money.

@Davidarendale0 I hear you. I don't like ignorance either. That's why when THREE INDIVIDUALS in this country own more wealth than the lowest 50% of citizens...I have a hard time understanding why people who are struggling month to month support that. It makes ZERO freaking sense to me.

@Davidarendale0 True, weren't you discussing who owns the wealth? Taxes aren't paid solely on income.

@Pherick yes they are. If not on income then what? And you can stop earning money and maintain a high net worth. People retire with over a million dollars saved up and their net worth can remain it over $1000000 up to the day they die. Net worth and income are not the same thing.

@Davidarendale0 I am not saying they are. However, people, this rich don't just have millions in cash sitting in a bank, its invested and diversified. If you own property, you pay property tax, local income tax, if you sell stocks, you pay capital gains tax, if you get money out of your 401k, you still pay tax on it.

If you have millions in the bank, you should be living off your interest, not spending your principle.

@Pherick you know what I normally don't do this because I don't want to get blocked over political discussions. I'd rather get blocked over something interesting like being pervy but if you don't know the difference between income and net worth you really need to stay out of the discussion because you don't know what the f*** you're talking about.

@Davidarendale0 LOL so please tell me where I was wrong rather just ranting about it.

@Pherick capital gains is a form of income. Local income taxes only tax income. If you wait till you're old enough you don't pay taxes on money in your 401k and everyone pays taxes on profits from investment. With the exception of property taxes which I really forgot about all that is still just tax on income.

@Davidarendale0 I will be completely honest, I am not sure what the argument is at this point.

Income does not equal net worth.

Taxes are paid on a variety of forms of wealth salaries, property, 401k( everyone pays taxes on this, it should just be less at retirement than you would pay if you took the money now), etc.

The top 20% of wealthy people in this country have access to a variety of wealth to help them defer their taxes and pay less than the rest of the bottom 80%. The picture I posted was just trying to show how the net worth of people in this country breaks down. That the top 20% hold about 90% of the wealth, not 1% holding 99% as was mentioned above.

I only read the first sentence of the reply. I don't remember what the argument is about either. Have a good day.😀