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There's little incentive to make more money when you know all it will do is put you in a higher tax bracket so you pay more for the half that has no tax burden.
Of the 30% of my income that is stolen from me via income tax (not including all the other taxes and fees), about 20% of that is used to maintain a worldwide hegemonic military empire and to blow people up overseas.
So I'm involuntarily funding about $7500 to the military which means that 3 weeks of my work life is spent on death and destruction.
My wife and I grew up lower-middle/middle-middle class, and are now one-percenters. There were times when our income was increasing that we resented the additional tax burden, but now that we've been at this level for a few years, we've come to terms with progressive taxation. Having a lot to lose means we have come to appreciate that we do benefit tremendously from the stability, services and infrastructure that our tax dollars pay for.
Of the 30% of my income that is stolen from me via income tax (not including all the other taxes and fees), about 20% of that is used to maintain a worldwide hegemonic military empire and to blow people up overseas.
So I'm involuntarily funding about $7500 to the military which means that 3 weeks of my work life is spent on death and destruction.
'Murica!
"This bullet sponsored by rebeldor"
*shreds through a little girl playing jump rope in Damascus*
So someone that does well and makes more money than the year before, continues to climb the ladder, maybe even continues their education, and likely sacrifices time away from their personal life and families shouldn’t question why more money is taken away from them at the end of the year?
I don’t think anyone should feel guilty for accumulating wealth and wanting to keep more of it. Most of the time in my experience it results from hard work and sacrifice. I have to admit it’s a little deflating to work your —- off and get a nice bonus because of it only to have it whacked pretty good by taxes
I don’t know what your definition of big money is personally I’ve never felt crippled although I have expenses just like anyone else maybe larger expenses in regard to student loans.
A lot of people have NO clue what's going on with who pays a LOT in taxes, and who's getting by with not even pulling their own weight.
2 important charts:
1) Here's who pays now, in relation to their share of the income:
Everyone should look in the mirror and admit to themselves if they're a net contributor, or a net taker. (Hint: The bottom 95% are net takers. They're NOT pulling their weight.)
And lest anyone thinks that's an anomaly and the REALLY high income earners pay far less than that, here's the actual IRS data on the percentage of the total income they earn vs. the percentage of the federal income tax revenue they pay.
Top 0.1%, minimum income: $2.22 million
Earn 10.19% of the total income
But pay 19.5% of the total federal income tax revenue
Very similar to the differential between what the top 1% (minimum income: $481,000) earns and what they pay.
When the 2018 data is released with the new tax law in effect, we'll see if the disproportion remains, or dwindled substantially, thereby creating a more fair taxation system.
2) Here's the average percentage of the year those in the following income groups must work for free. That's time away from family/friends/their children, etc. It's tax slavery, and it is FAR from evenly distributed:
what person wouldn't be mad at seeing their taxes go up?
Im sure its natural to hate to see yourbmoney go down. But at the end of the day, if you can still afford that 5 bedroom house with a 2 car garage, a BMW for you and the lady and go out and have a nice meal every week, cant see ut being a big deal.
But thats my view on living good. If you can have the bare essentials and also afford to enjoy life, whats really there to complain about?
Im sure its natural to hate to see yourbmoney go down. But at the end of the day, if you can still afford that 5 bedroom house with a 2 car garage, a BMW for you and the lady and go out and have a nice meal every week, cant see ut being a big deal.
But thats my view on living good. If you can have the bare essentials and also afford to enjoy life, whats really there to complain about?
Maybe the fact that our government has a way of legally committing robbery and uses it as a way to punish the successful?
I really don't care one way or the other. I think we should have a flat tax - a straight percentage, no tax credits at all, no exemptions, the same for everyone. It bothers me more that the government incentivizes having children people can't afford not just with taxes, either.
*shreds through a little girl playing jump rope in Damascus*
Well hey, at least it was a QUALITY bullet...
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