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Umm... if Jesus is for this, then so am I. Otherwise, this really makes no sense in theory or not. Poor people not paying a federal income tax is not why your state is broke or why our national debt is high. Besides, I'm willing to bet those people living paycheck to paycheck will spend all of their refund check and put it back into the economy and not move half of it to some off-shore account in the Caymans.
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.
Being poor should be incentive enough to better yourself, you don't need to government to create an 'incentive.' I figure a corrupt Wall Street banker that makes millions before almost bringing down the collapse of the global financial institution would be more of a burden to society than the guy that that makes 25k/yr.
This whole idea of taxing one group more than another is getting ridiculous. We need a flat tax, where EVERYONE pays the same percentage, with NO exceptions.
Being poor should be incentive enough to better yourself, you don't need to government to create an 'incentive.' I figure a corrupt Wall Street banker that makes millions before almost bringing down the collapse of the global financial institution would be more of a burden to society than the guy that that makes 25k/yr.
Millions? Please, millions is for amateurs, these leeches drain BILLIONS. And according to the right wingers these banksters are the "job creators and investor class" that we just CANNOT afford to lose! If we raise their taxes they may throw a temper tantrum and run away to another country and take their blood sucking ways with them, and then gee golly wiz, who would create the jobs and make America "great?"
Millions? Please, millions is for amateurs, these leeches drain BILLIONS. And according to the right wingers these banksters are the "job creators and investor class" that we just CANNOT afford to lose! If we raise their taxes they may throw a temper tantrum and run away to another country and take their blood sucking ways with them, and then gee golly wiz, who would create the jobs and make America "great?"
So the 35 year-old guy flipping burgers at McDonald's is a job creator and a CFO of a large publicly traded company isn't and he's also a crook? Only in the insane delusions of a leftist
Being poor should be incentive enough to better yourself, you don't need to government to create an 'incentive.' I figure a corrupt Wall Street banker that makes millions before almost bringing down the collapse of the global financial institution would be more of a burden to society than the guy that that makes 25k/yr.
Did you know that the tax bracket for someone making $33,999.99 is 15% and in the 34,000+ bracket taxes are 25% and up? Why on earth would anyone want to make more money when the more you make the exponentially more they take?
So the 35 year-old guy flipping burgers at McDonald's is a job creator and a CFO of a large publicly traded company isn't and he's also a crook? Only in the insane delusions of a leftist
No there are a lot of small business owners and moderately wealthy, even very wealthy people who are job creators and pay their taxes and do things the right way. Those are not who I'm after. I applaud them and working my way towards similar goals. Who I'm speaking about is the super wealthy, the hedge fund managers who add zero to the economy other than speculate and swap junk mortgages and crash our economy. I'm talking about the worthless bums who ship jobs overseas and create jobs in China, and dodge all taxes and are always looking for a way to buy off another politician and rewrite the tax laws to even further favor the rich.
Did you know that the tax bracket for someone making $33,999.99 is 15% and in the 34,000+ bracket taxes are 25% and up? Why on earth would anyone want to make more money when the more you make the exponentially more they take?
Careful, your ignorance is showing.
In your scenario the tax would be 15% of anything UP TO AND INCLUDING $33,999.99 PLUS 25% of anything AT OR ABOVE $40,000.00.
Someone making $40,000.00 is NOT taxed at 25% of that $40,000.00. The ONLY thing taxed at 25% would be that ONE EXTRA PENNY. Everything else would be taxed at 15%.
Got it?
I don't know WHY so many folks are under that mistaken idea about the tax rates. Clearly though such folks must not make a lot of money (and are thus "stuck" perpetually in those lower tax rates). Anyone in those higher tax rates probably has at least a rudimentary idea of how the tax brackets work.
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.
First of all, if you want "civil and academic" you are in the wrong forums, we have a lot of ignorant trolls here.
But, since you brought it up, raising the income tax on the poor, who do not have a job, is going to be hard to do, since there is no income to tax.
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