Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 06-21-2017, 08:58 AM
 
Location: OH->FL->NJ
16,960 posts, read 12,534,154 times
Reputation: 8881

Advertisements

Quote:
Originally Posted by AnesthesiaMD View Post
The more I work, the more I get paid. I think I would drastically cut down my hours with this system. As it is now, even with the current tax structure I always factor in the taxes when deciding how much I want to work. If I knew I would only get 30%, I would choose to just go home instead of working the extra hours. I would be done with my 20 hour days for good, in exchange for 8 hour days, and I would be taking 10 weeks vacation a year.

...Actually, that doesn't sound so bad.
Getting to choose how many hours one works is not typical. Many below you are in the 60-70 hour a week category and have no choice.
Reply With Quote Quick reply to this message

 
Old 06-21-2017, 08:58 AM
 
Location: moved
13,608 posts, read 9,644,958 times
Reputation: 23389
My dream scenario would eliminate personal exemptions or distinctions of “filing status”. Also eliminate the mortgage-interest deduction, and the charitable-contributions deduction. Marginal rates could rise, to be revenue-neutral.

I’m willing to pay a higher percentage of income-tax, than persons who earn less. What ceaselessly irks me is how persons who earn considerably more, may nevertheless pay less in taxes (percentage, or absolute amount) than me, not because it’s business-income or investment-income or whatever, but because of their lifestyle choices.

Quote:
Originally Posted by InformedConsent View Post
...Too many ill-informed people whining that the rich don't pay their "fair share" when, clearly, the rich are actually WAY overpaying their share.
While overall your point is eminently sensible, there is a caveat, regarding the source of income. A professional athlete earning $5M in one year, is going to be taxed very differently from an investor with a $100M portfolio, that brought in $5M of long-term capital gains. There’s also a caveat, depending on where one lives. Top marginal income tax rate in California is something like 13%, which is knocking on the federal rate for long-term capital gains. But in some states, that state tax rate will be 0%... makes a huge difference for wealthy people, whereas say “cost of living”, in term of real estate prices, is pretty much irrelevant.
Reply With Quote Quick reply to this message
 
Old 06-21-2017, 10:05 AM
 
Location: NJ/NY
18,431 posts, read 15,184,095 times
Reputation: 14296
Quote:
Originally Posted by ottomobeale View Post
Getting to choose how many hours one works is not typical. Many below you are in the 60-70 hour a week category and have no choice.
That would be a pretty light week for me. Life is full of choices. If you make the right ones, then you get even more choices.

But none of this gets at my point, which is, when you have to work hard for your money, how many people are going to choose to work hard If the government is going to take away 70%?

The government is not going to make more off of these people, they will just get less productivity.
Reply With Quote Quick reply to this message
 
Old 06-21-2017, 11:07 AM
 
Location: moved
13,608 posts, read 9,644,958 times
Reputation: 23389
Quote:
Originally Posted by AnesthesiaMD View Post
... when you have to work hard for your money, how many people are going to choose to work hard If the government is going to take away 70%?

The government is not going to make more off of these people, they will just get less productivity.
There’s a threshold beyond which additional taxation is counterproductive, in terms of raising additional revenue, even if it supposedly accomplishes laudable social ends. What that threshold happens to be, is of course a matter of opinion – and culture. In ethnically homogeneous small countries – such as those in Scandinavia – with a strongly egalitarian tradition, a higher level of taxation is tolerated. In more variegated and fragmented countries, that tolerance-level will be lower.
Reply With Quote Quick reply to this message
 
Old 06-21-2017, 11:42 AM
 
Location: San Diego
18,669 posts, read 7,542,298 times
Reputation: 14942
If you advocate any scheme where some people pay more than the benefits they actually receive; and other people pay less than what they receive, you will never arrive at anything people will agree is "fair". Never.
Reply With Quote Quick reply to this message
 
Old 06-23-2017, 12:05 PM
 
26,694 posts, read 14,522,222 times
Reputation: 8094
Can we all agree that the fair share each person should pay on his or her legally earned income should be 0%?
Reply With Quote Quick reply to this message
 
Old 06-23-2017, 12:18 PM
 
Location: The Republic of Texas
78,866 posts, read 46,504,056 times
Reputation: 18520
Quote:
Originally Posted by lifeexplorer View Post
What is the fair share? How much income tax should a person pay?

ZERO!


No income based taxing is fair, or productive.

Government does not "earn" anything. Everything government has today, they took it from somebody.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies

All times are GMT -6. The time now is 09:12 AM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top