The key is Relative to their income. It requires a certain amount to provide the essential things such as housing, food, energy, health, transportation, clothing etc. When you look as a family with an annual income of $60,000 they pay $5-6000 in income tax, payroll taxes of $3,500, real estate tax if the own a home and sales taxes. If you add the 5,000 income tax; 3,500 payroll taxes, 3,500 Real Estate tax and 1,500 in sales tax you have $13,500 out of $60,000. That is significant.
If a person has an income of $1,000,000 they pay 4/10 of one percent in Social Security Taxes. The person with a $60,000 income pays 4 % or ten times the rate of the person making a million dollars. It is also true that the wealthy got MOST of the tax cuts since 2001 and have the ability to pay more then the middle income family because they got a drip in tax cuts compared with the wealthy.
1,000,000 x 32%= 320000 income tax
1,000,000 x 16%= 160000 payroll tax(i doubled this because this guy is probable
self employed so he/she is paying both halfs of
the payroll tax)
1,000,000 ----= 3500
1,000,000 -----= 1500 i left these two the same because i don't know
what you based them on.0
total 485000
of course this is wrong because i am sure the rich guy lives in a better house and drives/owns a better car.
