No, that is just INCOME TAX. If ALL taxes were taken into consideration, especially payroll taxes, the bottom 50% in this country probably pay 1,000 times what Exxon pays.
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Give Oil Company profits to the people
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I'd say that the lower income earner pays higher taxes than anyone else. They don't get deductions nor do they get to write off expenses.
Originally Posted By: Gary Allan
I'd say that the lower income earner pays higher taxes than anyone else. They don't get deductions nor do they get to write off expenses.
Huh? Under $30K or so, you get money. Under $50K or so, the rates are quite low. The [censored] kicking doesn't really start until the $85k-$100K barrier is broken and deductions don't help THAT much. As usual it's the people just fighting to break free, or gumption to do so, who get killed.
I'd say that the lower income earner pays higher taxes than anyone else. They don't get deductions nor do they get to write off expenses.
Huh? Under $30K or so, you get money. Under $50K or so, the rates are quite low. The [censored] kicking doesn't really start until the $85k-$100K barrier is broken and deductions don't help THAT much. As usual it's the people just fighting to break free, or gumption to do so, who get killed.
The thought of penalizing a company for making a profit is ridiculous. Who decides what amount is too high, the government, a group of liberal politicians? What industry or business sector do you stop at? McDonalds is well above, Burger King, Wendy’s, and the likes. Maybe we should penalize those big-macs and quarter pounders. I don’t think Exxon or any other oil company’s profits are out of line. As far as this line of thinking goes, the guy down the road from you makes 35K/year, you make 75K/yr, maybe you owe him something because you have a better job, or you had the gumption to start a business and take risks. Total [censored], it is hard for me to even understand someone with this point of view, very socialistic.
Originally Posted By: Pablo
Originally Posted By: Gary Allan
I'd say that the lower income earner pays higher taxes than anyone else. They don't get deductions nor do they get to write off expenses.
Huh? Under $30K or so, you get money. Under $50K or so, the rates are quite low. The [censored] kicking doesn't really start until the $85k-$100K barrier is broken and deductions don't help THAT much. As usual it's the people just fighting to break free, or gumption to do so, who get killed.
I grossed a $3800 check a few weeks ago. The government bit $1800 of that. Don't come to Canada, you'll cry.
Originally Posted By: Gary Allan
I'd say that the lower income earner pays higher taxes than anyone else. They don't get deductions nor do they get to write off expenses.
Huh? Under $30K or so, you get money. Under $50K or so, the rates are quite low. The [censored] kicking doesn't really start until the $85k-$100K barrier is broken and deductions don't help THAT much. As usual it's the people just fighting to break free, or gumption to do so, who get killed.
I grossed a $3800 check a few weeks ago. The government bit $1800 of that. Don't come to Canada, you'll cry.
Originally Posted By: Pablo
Originally Posted By: Gary Allan
I'd say that the lower income earner pays higher taxes than anyone else. They don't get deductions nor do they get to write off expenses.
Huh? Under $30K or so, you get money. Under $50K or so, the rates are quite low. The [censored] kicking doesn't really start until the $85k-$100K barrier is broken and deductions don't help THAT much. As usual it's the people just fighting to break free, or gumption to do so, who get killed.
The problem with this apparent sentiment is that unless you're making $85-$100K, you're not trying, which isn't necessarily true.
Originally Posted By: Gary Allan
I'd say that the lower income earner pays higher taxes than anyone else. They don't get deductions nor do they get to write off expenses.
Huh? Under $30K or so, you get money. Under $50K or so, the rates are quite low. The [censored] kicking doesn't really start until the $85k-$100K barrier is broken and deductions don't help THAT much. As usual it's the people just fighting to break free, or gumption to do so, who get killed.
The problem with this apparent sentiment is that unless you're making $85-$100K, you're not trying, which isn't necessarily true.
Originally Posted By: Pablo
Originally Posted By: Gary Allan
I'd say that the lower income earner pays higher taxes than anyone else. They don't get deductions nor do they get to write off expenses.
Huh? Under $30K or so, you get money. Under $50K or so, the rates are quite low. The [censored] kicking doesn't really start until the $85k-$100K barrier is broken and deductions don't help THAT much. As usual it's the people just fighting to break free, or gumption to do so, who get killed.
Pablo, as much as a money chaser as you are do you really believe that income tax is the only tax people pay? If you do, you haven't been paying attention to the world around you.
Originally Posted By: Gary Allan
I'd say that the lower income earner pays higher taxes than anyone else. They don't get deductions nor do they get to write off expenses.
Huh? Under $30K or so, you get money. Under $50K or so, the rates are quite low. The [censored] kicking doesn't really start until the $85k-$100K barrier is broken and deductions don't help THAT much. As usual it's the people just fighting to break free, or gumption to do so, who get killed.
Pablo, as much as a money chaser as you are do you really believe that income tax is the only tax people pay? If you do, you haven't been paying attention to the world around you.
Originally Posted By: MarkC
Originally Posted By: Pablo
Originally Posted By: Gary Allan
I'd say that the lower income earner pays higher taxes than anyone else. They don't get deductions nor do they get to write off expenses.
Huh? Under $30K or so, you get money. Under $50K or so, the rates are quite low. The [censored] kicking doesn't really start until the $85k-$100K barrier is broken and deductions don't help THAT much. As usual it's the people just fighting to break free, or gumption to do so, who get killed.
The problem with this apparent sentiment is that unless you're making $85-$100K, you're not trying, which isn't necessarily true.
Yeah sorry, didn't mean to imply that. I was thinking in terms of people working two jobs and starting a business, etc. Just starting to get ahead and viola - whacked back. BTDT.
Originally Posted By: Pablo
Originally Posted By: Gary Allan
I'd say that the lower income earner pays higher taxes than anyone else. They don't get deductions nor do they get to write off expenses.
Huh? Under $30K or so, you get money. Under $50K or so, the rates are quite low. The [censored] kicking doesn't really start until the $85k-$100K barrier is broken and deductions don't help THAT much. As usual it's the people just fighting to break free, or gumption to do so, who get killed.
The problem with this apparent sentiment is that unless you're making $85-$100K, you're not trying, which isn't necessarily true.
Yeah sorry, didn't mean to imply that. I was thinking in terms of people working two jobs and starting a business, etc. Just starting to get ahead and viola - whacked back. BTDT.
Originally Posted By: XS650
Pablo, as much as a money chaser as you are do you really believe that income tax is the only tax people pay? If you do, you haven't been paying attention to the world around you.
Money chaser? What?
When did I say income tax is the only tax? Please find that quote. I would be very interested if I said or even implied that.
Pablo, as much as a money chaser as you are do you really believe that income tax is the only tax people pay? If you do, you haven't been paying attention to the world around you.
Money chaser? What?
When did I say income tax is the only tax? Please find that quote. I would be very interested if I said or even implied that.
There is a valid point about the payroll taxes. There are NO deductions for those. I believe the social security portion phases out at some point just south of 100K, but the Medicare portion doesn't. (I think, please correct me if I'm wrong.)
Yet income taxes are the other way, the rates increase as one makes more money.
And yes, the taxes and fees imposed by various levels of government are sometimes insane. I recently recall examining our home phone bill and for the $40/month unlimited local and LD we paid close to $14 in various federal, state and local fees (I.E. taxes.)
The thing is, and this is as close to political as I dare get, since business doesn't get to vote, why should any business be taxed?
In the US, one of the primary reasons we broke from the crown was due to taxation and representation.
So I say, any entity that is unable to vote should not be taxed.
But that's just my opinion, and if too close or over the political line, I apologize for crossing the boundary.
Of course, the other side of that equation is I would only allow voters, not groups to make campaign contributions
But I'm not in charge.... yet.
Yet income taxes are the other way, the rates increase as one makes more money.
And yes, the taxes and fees imposed by various levels of government are sometimes insane. I recently recall examining our home phone bill and for the $40/month unlimited local and LD we paid close to $14 in various federal, state and local fees (I.E. taxes.)
The thing is, and this is as close to political as I dare get, since business doesn't get to vote, why should any business be taxed?
In the US, one of the primary reasons we broke from the crown was due to taxation and representation.
So I say, any entity that is unable to vote should not be taxed.
But that's just my opinion, and if too close or over the political line, I apologize for crossing the boundary.
Of course, the other side of that equation is I would only allow voters, not groups to make campaign contributions
But I'm not in charge.... yet.
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Originally Posted By: Pablo
Originally Posted By: Gary Allan
I'd say that the lower income earner pays higher taxes than anyone else. They don't get deductions nor do they get to write off expenses.
Huh? Under $30K or so, you get money. Under $50K or so, the rates are quite low. The [censored] kicking doesn't really start until the $85k-$100K barrier is broken and deductions don't help THAT much. As usual it's the people just fighting to break free, or gumption to do so, who get killed.
I cite my example again, Pablo. Look at how much FIT you pay. You get deductions for your BIG HOUSE that, under normal conditions, is gaining you in WEALTH ..yet you're contributing less to the coffer. As I've said a few times, I pay around 10% FIT (the last return I figured) ... That's below the lowest bracket ..AND I got a check for all the great things I was going do for the lower dwellers. Look at all my risk ..all my venture capital ..all the ingenuity that I applied in the whole scheme to deserve it.
Meanwhile, before the return gets filed, the $9 worker ..before paying any other tax ...gets hit for 21% from gross. They too will pay the $14 on the $40 phone bill (if they can afford a phone) ...blah..blah..blah. They don't get to right off expenses as the cost of doing business like the uppers or XOM.
Originally Posted By: Gary Allan
I'd say that the lower income earner pays higher taxes than anyone else. They don't get deductions nor do they get to write off expenses.
Huh? Under $30K or so, you get money. Under $50K or so, the rates are quite low. The [censored] kicking doesn't really start until the $85k-$100K barrier is broken and deductions don't help THAT much. As usual it's the people just fighting to break free, or gumption to do so, who get killed.
I cite my example again, Pablo. Look at how much FIT you pay. You get deductions for your BIG HOUSE that, under normal conditions, is gaining you in WEALTH ..yet you're contributing less to the coffer. As I've said a few times, I pay around 10% FIT (the last return I figured) ... That's below the lowest bracket ..AND I got a check for all the great things I was going do for the lower dwellers. Look at all my risk ..all my venture capital ..all the ingenuity that I applied in the whole scheme to deserve it.
Meanwhile, before the return gets filed, the $9 worker ..before paying any other tax ...gets hit for 21% from gross. They too will pay the $14 on the $40 phone bill (if they can afford a phone) ...blah..blah..blah. They don't get to right off expenses as the cost of doing business like the uppers or XOM.
Originally Posted By: Gary Allan
You get deductions for your BIG HOUSE ......yet you're contributing less to the coffer.
Meanwhile, before the return gets filed, the $9 worker ..before paying any other tax ...gets hit for 21% from gross. They too will pay the $14 on the $40 phone bill (if they can afford a phone) ...blah..blah..blah. They don't get to right off expenses as the cost of doing business like the uppers or XOM.
Big House??? What???? Contibuting less? Dude - have you seen my "other" taxes....(the ones that I don't think about
). I also pay state B&O tax, which allows no deductions, no nothing, property tax on some imagined value of my own that I couldn't possibly sell it for, business fees, LLC up keep fee…..I [censored] guarantee I pay way more than the $9/hour guy, percentage and certainly dollar wise in total taxes.
$9 is roughly $18K per year. Please tell me how much FIT is due all said and done….
If you want to say that this Mr. $9 guy pays more in state and local sales tax alone as a percentage of his total income than I do, well maybe mathematically you would be correct…..but food has no direct sales tax. If we dress the same and act the same, maybe….but I should be penalized for being frugal? OTOH, high income consumers pour billions into the hands of the greed pigs in Olympia.
You get deductions for your BIG HOUSE ......yet you're contributing less to the coffer.
Meanwhile, before the return gets filed, the $9 worker ..before paying any other tax ...gets hit for 21% from gross. They too will pay the $14 on the $40 phone bill (if they can afford a phone) ...blah..blah..blah. They don't get to right off expenses as the cost of doing business like the uppers or XOM.
Big House??? What???? Contibuting less? Dude - have you seen my "other" taxes....(the ones that I don't think about
$9 is roughly $18K per year. Please tell me how much FIT is due all said and done….
If you want to say that this Mr. $9 guy pays more in state and local sales tax alone as a percentage of his total income than I do, well maybe mathematically you would be correct…..but food has no direct sales tax. If we dress the same and act the same, maybe….but I should be penalized for being frugal? OTOH, high income consumers pour billions into the hands of the greed pigs in Olympia.
WA state has about the most regressive income tax in the US, in that the more income you have, the smaller the percentage of it you pay in tax. No state tax, so far.
Of course, this doesn't take into account the other ways you get gigged: gas tax, property tax, etc.
But Mr. $9/hr may not own property, he will still get nailed by it. I know that everytime my landlord gets jacked, she jacks me as well.
Of course, this doesn't take into account the other ways you get gigged: gas tax, property tax, etc.
But Mr. $9/hr may not own property, he will still get nailed by it. I know that everytime my landlord gets jacked, she jacks me as well.
Frankly, the more you make, the less as a percentage of income you SHOULD have to pay in taxes.
That's the incentive to work. Having less to show for more work is a dis-incentive to labor and to investment.
I understand that some are in a crisis that they did not create. Say an illness or something like that.
However, the person who skipped school, got addicted to drugs and/or alcohol, got knocked up or knocked up a half-dozen women, etc are only in a crisis of their own creation.
So the question is why should these folks get a discount on their taxes for screwing up?
I say not a flat tax rate, a flat tax. Everyone from 25-70 pays the same dollar amount of taxes each year, $6K, $12K, whatever it is. Everything you make over that is yours. Don't make enough, the IRS is looking for you.
I've suggested that you spread the cost of core government, national defense, foreign policy and the federal judiciary, over the entire population.
The "optional" social good services, such as the Department of Agriculture, Department of Transportation, etc, those would be paid by those regulated by such departments, such as fees charged to airlines, or motor fuels taxes, etc.
But adult should have to pay for the core Federal Services, regardless of his/her income until retirement age, from 25-70 years of age. So if that core costs each of these adults $5K/year, they have to pay that as their minimum tax.
Everything else would be paid by those who use the service, such as the FAA when you fly or when someone ships a package buy air.
There is neither crime nor virtue in being rich or poor.
That's the incentive to work. Having less to show for more work is a dis-incentive to labor and to investment.
I understand that some are in a crisis that they did not create. Say an illness or something like that.
However, the person who skipped school, got addicted to drugs and/or alcohol, got knocked up or knocked up a half-dozen women, etc are only in a crisis of their own creation.
So the question is why should these folks get a discount on their taxes for screwing up?
I say not a flat tax rate, a flat tax. Everyone from 25-70 pays the same dollar amount of taxes each year, $6K, $12K, whatever it is. Everything you make over that is yours. Don't make enough, the IRS is looking for you.
I've suggested that you spread the cost of core government, national defense, foreign policy and the federal judiciary, over the entire population.
The "optional" social good services, such as the Department of Agriculture, Department of Transportation, etc, those would be paid by those regulated by such departments, such as fees charged to airlines, or motor fuels taxes, etc.
But adult should have to pay for the core Federal Services, regardless of his/her income until retirement age, from 25-70 years of age. So if that core costs each of these adults $5K/year, they have to pay that as their minimum tax.
Everything else would be paid by those who use the service, such as the FAA when you fly or when someone ships a package buy air.
There is neither crime nor virtue in being rich or poor.
Originally Posted By: Gary Allan
The key is to raise better citizens.
So SIMPLE yet so TRUE... I could just kiss you for that statement, but I will settle for a "well said" instead!
The key is to raise better citizens.
So SIMPLE yet so TRUE... I could just kiss you for that statement, but I will settle for a "well said" instead!
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