the top 10% of American tax payers contribute 74% of all income tax.
Because they earn the most income…
That’s what happens with percentage based taxes and rampant wealth income disparity…
The bottom of the top 10% are making 3x an average American.
And it only gets more ridiculous as you get up to the 1% which is why the top ten number is high…
Why are you so opinionated about something you don’t know about?
Quick edit:
That’s right, you’re the rich overseas worker who doesn’t want to.pay taxes
It’s not that you can’t understand why the wealthy should pay taxes. You just don’t want pay taxes. I’ll just block you so I don’t fuck up and respond again
I’ll just note for any readers that you still are either unable to or refuse to articulate what makes America so unique that it’s essentially the only country that taxes foreign income.
The United States is one of the few countries that has a system of taxing its citizens and residents on their worldwide income, including income earned abroad. This practice is known as “citizenship-based taxation.” There are a few reasons why the U.S. follows this approach:
Historical Reasons: The United States has had a system of citizenship-based taxation in place for a long time. It dates back to the Civil War era when it was implemented to fund the war effort.
Desire to Prevent Tax Evasion: Citizenship-based taxation is intended to prevent U.S. citizens and residents from avoiding taxes by moving their assets or income abroad. Without it, individuals might seek tax havens to reduce their tax liability.
Complex Tax Code: The U.S. tax code is complex, and changing to a different system, such as residence-based taxation (taxing only income earned within the country), would require a significant overhaul of tax laws.
Revenue Generation: Taxing foreign income allows the U.S. government to generate revenue from its citizens and residents, regardless of where they earn their income.
It’s worth noting that while the U.S. taxes its citizens and residents on foreign income, there are mechanisms in place, such as the Foreign Earned Income Exclusion and foreign tax credits, to mitigate double taxation and reduce the tax burden on income earned in other countries. However, compliance with U.S. tax laws related to foreign income can be complex and may require professional assistance for those living abroad.
Because they earn the most income…
That’s what happens with percentage based taxes and rampant wealth income disparity…
The bottom of the top 10% are making 3x an average American.
And it only gets more ridiculous as you get up to the 1% which is why the top ten number is high…
Why are you so opinionated about something you don’t know about?
Quick edit:
That’s right, you’re the rich overseas worker who doesn’t want to.pay taxes
It’s not that you can’t understand why the wealthy should pay taxes. You just don’t want pay taxes. I’ll just block you so I don’t fuck up and respond again
I’ll just note for any readers that you still are either unable to or refuse to articulate what makes America so unique that it’s essentially the only country that taxes foreign income.
The United States is one of the few countries that has a system of taxing its citizens and residents on their worldwide income, including income earned abroad. This practice is known as “citizenship-based taxation.” There are a few reasons why the U.S. follows this approach:
Historical Reasons: The United States has had a system of citizenship-based taxation in place for a long time. It dates back to the Civil War era when it was implemented to fund the war effort.
Desire to Prevent Tax Evasion: Citizenship-based taxation is intended to prevent U.S. citizens and residents from avoiding taxes by moving their assets or income abroad. Without it, individuals might seek tax havens to reduce their tax liability.
Complex Tax Code: The U.S. tax code is complex, and changing to a different system, such as residence-based taxation (taxing only income earned within the country), would require a significant overhaul of tax laws.
Revenue Generation: Taxing foreign income allows the U.S. government to generate revenue from its citizens and residents, regardless of where they earn their income.
It’s worth noting that while the U.S. taxes its citizens and residents on foreign income, there are mechanisms in place, such as the Foreign Earned Income Exclusion and foreign tax credits, to mitigate double taxation and reduce the tax burden on income earned in other countries. However, compliance with U.S. tax laws related to foreign income can be complex and may require professional assistance for those living abroad.
Hope that helps!
Removed by mod
Removed by mod