The Journey of a New Wife

{September 14, 2011}   Fact or Myth? The Rich Do Not Pay Less Taxes

I am going to try something new with this blog. Yes this is a blog about my life as a new wife but as those of you know me personally I am full of useless knowledge! Once a week I am going to post a blog called Fact or Myth. I want you to carefully read over each blog entry and then in the comments section I want you to tell me if it is a fact or if is a myth. Also please explain the reasoning  behind your choice (ie prior knowledge, research, or common sense).

The Rich Do Not Pay Less Taxes – I am really curious who will guess this one correctly.

The democratic party has led us all to believe that the rich pay less taxes than the average american and therefore should be forced to pay an additional amount on top of what they already pay. What lower to middle class person does not love to hear this? In actuality a family with an annual income of $300k will pay 34% in taxes. This equals out to 1/3 of their income going into taxes.  Lets give an example, if there was indeed a flat tax rate for every class no matter the income say 20%, the taxes on anyone that has an annual income of $200k or more will actually go down. Anyone making less than $200k will actually see their taxes rise. People want to believe that the wealthy indeed pay more and therefore should give more to than they do in order to help the less fortunate. This would help welfare wouldn’t it? This would be what is best for our economy right? I am not so sure about that.

Now tell me … Is what I stated above fact or myth? What is your take on who should pay more taxes? Do you believe there should be a flate rate for taxes? Do you believe that self-made millionaires should be punished for having been successful in order to help those less fortunate? Am I merely spewing what all republicans believe?


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