So What The Rich Pay More Than Everyone Else!

The percentage of income to taxes paid by the rich is deceptive. The yearly incomes of the lower 50% and the top 1% are $15,000 and $500,000, respectively. Zero % of $15,000 leaves $15,000 to pay for transportation, food, clothes, cell phone, medical, etc. Ninety % of $500,000 leaves $100,000. After property, city, and state taxes, the 1% will have much more than $15,000 for basics and extras such as entertainment, travel, investing, etc.

What is more important is the money the top 1% have to spend on their children gives their kids many advantages the children of the poor will not have. The stark truth is that the intelligence and abilities of the children of the rich are the same as the children of the poor. Yet, the children of the 1% are overrepresented in the elite universities, on boards of directors of organizations and corporations, heads of government agencies, and in positions of influence in the media. Elites have watered down requirements of merit by top universities and the government for their mediocre children.

Food for thought, yes?

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