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I know that you and I have crossed words with each other in the past, and I've backed off because you said that I personally offended you, for which I apologized.
I'm not trying to start something with you again, I'm just genuinely curious - how is it that you avoid paying payroll taxes?
Silly me, and all this time I thought things were "tax" when they aren't...because they don't go to the federal government, which is clearly the one and only "government" we live under.
Sounds like a great idea to be honest. 35-45% tax for anyone making less than 25k a year will give people incentive to work harder to make more money. It shouldn't be the more you make the more they take. It should be the more burden you are to society the more you owe society.
"total paid to ss..3900 total paid to medicare 800"
which I am assuming is withheld from your paycheck - a total of $4700 in payroll taxes. And I'm not seeing where you get refunded that amount.
What am I missing here?
dj, did you open the spoiler (I used a spoiler to keep it short in the post
I earned 60k last year
total federal income tax withheld......2922....total paid to ss..3900 total paid to medicare 800...total of a federal withholdings 7600
click the spoiler to see the line by line
Spoiler
line 1....total earnings from w2................................................ ..........................58462.78
line 10...last years STATE refund (yes your state REFUND is considered income...........2189
ln 22....total income............................................ ..........................................60,672
ln 24...business expense........................................... ......................................13,625
ln 37,38 total adjusted.......................................... .........................................47,047
ln 40 itemized deduction......................................... ........................................21027
ln 41......sub 40 from 38................................................ .................................26109
ln 42 exemptions (3650 time number in household)........................................ .......21900
ln 43 ..taxable income............................................ ..........................................4119
li 44 tax (from tax tables)........................................... .......................................408
ln 47 foreign tax credit (a john hancock dividend(canadian))............................... ........7
ln 50 retirement credit (from 401k)............................................. .........................200
ln 52 tresidental energy credit............................................ ................................201
ln 54..total of 47,48,49,50,51,52,53 (the bush tax credits for households under 175k)....408
ln 55...sub 54 from 47................................................ ,.........................................0
ln 60 total tax............................................... .................................................. ..0
--------------------------
ln 61 federal income tax withheld .................................................. ......................2900
ln 63 makle work pay credit............................................ ......................................800
ln 65..additional child credit............................................ ...................................4000
I make too much to get the EIC which is line 64
ln 72 total refund .................................................. ........................................7722
my refund 7722
a differnce of 122.....
as I said
ZERO in federal income tax..and many get back more than they paid..and for many that includes ss/medi payroll tax too
According to many, poor people pay no federal taxes... in fact hey get free money from the earned income tax credit and welfare, etc. Assuming that is true, and removing the political and moral ramifications of this, what do you think would happen if we taxed poor people hard? And I mean way harder than the rich! For example... rich people at 5%, middle class at 10%, and the poor at 45%?
My feeling is the poverty rate might decline and many people would work harder... or at least hard enough to be considered middle class.
Please keep it civil and academic... after all, it's just a crazy theory that will never happen.
most people who earn 50k or less pay NOTHING in federal income tax, and MANY get back MORE than they paid to include what wads payroll tax
most people earning under 40k get almost EVERYTHING back (not only the income, but the payroll)
I'm gonna disagree with you here based on personal income tax returns from the past.
When I earned $17,000, I had to pay $1496 in federal tax and $138 in state tax. More recently when I earned 23k, I think I still paid a good 2k+ after getting my "Bush stimulus tax refund" (which I thought was a ridiculous waste). I was also able to save a lot of money on this salary so I didn't mind paying -- and I could have paid a higher percentage if I was asked to do so. I am a testament to the fact that you can have very low earnings and manage your life such that you can still contribute your fair share of taxes. There is really no need for "poor people" to pay less percentage-wise. They should manage their standard of living accordingly, like I did. Most of my coworkers with similar salaries also paid their share of the taxes.
With the unrelenting squeeze and systematic destruction of the middle class that's occurring now, it's not just the "lazy poor" that will be taking to the streets if things don't change. It amazes me that some people feel that it's the poor who are not paying enough that is the root of the revenue problem. Sure, the huge corporations paying NO taxes and the super-wealthy with their army of tax lawyers looking for any loophole couldn't be contributing to any of this mess, right?
No!!! They "WORK HARD" for their MONEY! Stop being a MARXIST!! HELL YEAH 'MURRICA!
Sounds like a great idea to be honest. 35-45% tax for anyone making less than 25k a year will give people incentive to work harder to make more money. It shouldn't be the more you make the more they take. It should be the more burden you are to society the more you owe society.
Yes because taking 45% of 25 grand is really going to fund our federal government. How are we going to start global conquest?
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