Do you whine and complain about paying taxes?

[freemkt]

Originally Posted by InformedConsent

I'm not buying it. 100 - 43 - 51.2 = 5.8.

There's no way the top 1% are using just 5.8% of their income to pay for food, clothing, housing, transportation, etc., for themselves and their dependents.

Once again, cash flow is NOT the same as "AGI" or "MAGI" or "taxable income" and stuff like that.

And Herman Cain's 9-9-9 tax calculator claimed very low marginal consumption rates in the top income quintile.

The Millionaire Next Door is a Prodigious Accumulator of Wealth.

[momonkey]

Originally Posted by desertdetroiter

Nope. And I put on ear muffs when others do.

Not that their complaints lack validity, but half of 'em don't even pay enough to complain about.

Of course the real issue is how our confiscated money is spent.

[InformedConsent]

Originally Posted by freemkt

Once again, cash flow is NOT the same as "AGI" or "MAGI" or "taxable income" and stuff like that.

You probably don't have much experience with it, but most deductions are phased out at higher income levels, and there's also the AMT.

How do phaseouts of tax provisions affect taxpayers?

And Herman Cain's 9-9-9 tax calculator claimed very low marginal consumption rates in the top income quintile.

Maybe for disposable income, but there's no way the percentage of income used to pay for food, clothing, housing, transportation for oneself and one's dependents is only 5.8%.

The Millionaire Next Door is a Prodigious Accumulator of Wealth.

"On average, millionaires invest nearly 20% of their income"

Nine Lessons in Wealth-Building from The Millionaire Next Door

Nearly 20%, not 51.2%. Someone's playing around with the numbers. I suspect the 51.2% stat you've seen is a percent of disposable income that's saved, not the percent of total income.

[green_mariner]

There are times when the amount I pay in taxes can annoy me. However, if my taxes go to fixing the infrastructure, making better mass transit, stuff like that, I don't have an issue. Taxes in itself does not bother me. Misuse of said dollars does bother me. The way I see taxes, you take the good with the bad.

[TrafficCory]

Nope. Never.