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Old Today, 01:17 AM
 
66,778 posts, read 30,515,001 times
Reputation: 8727

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Quote:
Originally Posted by thelogo View Post
Yes, I was comparing the effective tax rates. Let's go over the numbers again:

$49,300 earner, 8% taxe rate, after tax income $45,356.

$222,900 earner, 18% tax rate, after tax income $182,778.

$754,800 earner, 30%tax rate, after tax income $528,360.

Taxes are over emphasized, the real problem is how wages are paid. That is what I'm trying to point out.
By showing us all that a $754,800 earner pays $226,440 in federal taxes? He/she earns 15.3 times as much as one who earns $49,300, but pays 57.4 times as much in taxes. You've actually proven to us all that higher income earners are comparatively WAY overtaxed.
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Old Today, 02:43 AM
 
Location: Las Vegas & San Diego
250 posts, read 42,808 times
Reputation: 250
Quote:
Originally Posted by StillwaterTownie View Post
No, my comment was not absurd. Once again, if I was fortunate enough to be a millionaire, I wouldn't mind paying higher taxes, if I was still a millionaire after paying them.
There is a big difference between assets and income - A Millionaire has a million in assets, tax his income at 100% and he still has a million in assets but no income, that is why it is absurd.

PS: I very much mind paying higher taxes because most goes to waste or things I do not support.
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Old Today, 03:00 AM
 
Location: Las Vegas & San Diego
250 posts, read 42,808 times
Reputation: 250
Quote:
Originally Posted by TBMorgan View Post
Agree with what you posted.

To add, I think most wealthy folks and American corporations have ffound the tax loopholes anyway.

https://money.cnn.com/2013/03/04/new...xes/index.html
That link has nothing to do with your premise - Buffet pays less percent because he pays on capital gains not income.
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Old Today, 06:11 AM
 
19,049 posts, read 9,705,375 times
Reputation: 5341
Quote:
Originally Posted by chad3 View Post
Our federal tax bracket system is lacking, and it unfairly punishes Americans in certain income brackets.


Bellow are incomes with the actual federal tax bracket rate,
Tax Brackets (Federal Income Tax Rates) 2000 through 2019

10,000- 10%
20,000- 12%
30,000- 12%
41,000- 22% (the tax bracket rate almost doubles at $41,000, but it only slightly rises for all other brackets)
50,000- 22%
60,000- 22%
80,000- 22% (these American make double of someone at $41,000, but they have the same tax bracket rate)
100,000- 24% (a 2% tax rate increase, but Americans at $41,000 get a 10% tax rate increase)
125,000- 24%
150,000- 24%
161,000- 32%
205,000- 35% (Americans making $205,000 are getting hammered with unfair 35% rates)
300,000- 35%
400,000- 35%
511,000- 37% (these Americans are in the same bracket as someone making $50 million a year)
600,000- 37%
800,000- 37%
1,000,000- 37% (these Americans are in the same bracket as someone making $100 million a year.)
5,000,000- 37%
10,000,000- 37%
20,000,000- 37%
50,000.000- 37%
100,000,000- 37%




A fair tax bracket system would be something like the percentages in the first column bellow,
-The tax % figures in ( ) are today's actual federal tax bracket figures.

$1,000- 0%
5,000- 5%
10,000- 10% (10%)
20,000- 12%
40,000- 14% (22%) These Americans are placed in a unfair tax bracket
60,000- 16%
80,000- 18% (22%)
100,000- 19%
180,000- 20% (32%) These Americans are placed in a unfair tax bracket
200,000- 21%
250,000- 22% (35%) These Americans are placed in a unfair tax bracket
350,000- 23%
450,000- 24%
600,000- 25% (37%) These Americans are placed in a unfair tax bracket
900,000- 26%
1,500,000- 30% (37%) These Americans are placed in a unfair tax bracket
2,500,000- 31%
4,000,000- 32%
6,000.000- 33% (37%) These Americans are placed in a unfair tax bracket
10,000,000- 34% (37%)
50,000,000- 35%
100,000,000- 37% (37%)


Our federal tax bracket system is punishing certain Americans with high tax rates by placing such large ranges of income in the same tax bracket. And it unfairly punishes certain tax brackets with unusually high tax rate increases.
37% is still infinitely larger than 0%. Everybody should pay their fair share!

Let me remind you that 0% is not just one person. It’s over 50% of the entire population!!!
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Old Today, 08:15 AM
 
1,502 posts, read 310,504 times
Reputation: 421
Quote:
Originally Posted by InformedConsent View Post
By showing us all that a $754,800 earner pays $226,440 in federal taxes? He/she earns 15.3 times as much as one who earns $49,300, but pays 57.4 times as much in taxes. You've actually proven to us all that higher income earners are comparatively WAY overtaxed.
Ok, they are overtaxed and should be tax less. I'll give you that. Now at the same time they are overpaid and used the extra money to multiply it exponentially in money schemes like the stock market.

While the masses get enough money to only get by the wage structure is extremely tilted. Again, you keep missing my point despite explicitly stating it. TAXES ARE OVERRATED, WAGES ARE THE PROBLEM. Most wages are paid artificially low and unnecessary programs are created to compensate for it. Some wages are paid artificially high for control.
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Old Today, 08:53 AM
 
66,778 posts, read 30,515,001 times
Reputation: 8727
Quote:
Originally Posted by thelogo View Post
Ok, they are overtaxed and should be tax less. I'll give you that. Now at the same time they are overpaid and used the extra money to multiply it exponentially in money schemes like the stock market.
You have no right whatsoever to declare that they're overpaid.

Quote:
While the masses get enough money to only get by the wage structure is extremely tilted. Again, you keep missing my point despite explicitly stating it. TAXES ARE OVERRATED, WAGES ARE THE PROBLEM. Most wages are paid artificially low and unnecessary programs are created to compensate for it. Some wages are paid artificially high for control.
I've said this before, and I'll say it again... It's no mystery. The only reason so many people just "get by" is because they insist on living beyond their means because they believe they're "entitled" to a lifestyle which they have not earned. Even worse, all that unnecessary spending they do on wants that are NOT needs is their way of voluntarily making the rich even richer. Those who sell products/services to the masses and those who invest in such corporations, etc., are profitting from the masses spending beyond their means.
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Old Today, 09:00 AM
 
Location: So Cal
40,617 posts, read 40,146,761 times
Reputation: 42032
I have a co-worker that thinks this way. He thinks 70 to 90 percent taxes on the wealthy is fine with him. He said that if someone makes 10M a year and is taxed at 90 percent he still makes a million a year. That should be enough money to him.

I looked at him and I was speechless. If someone is making 10M yr they most likely a highly productive people and talented. Why should they be taxed and essentially punished for being successful.
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Old Today, 09:51 AM
 
11,459 posts, read 6,003,072 times
Reputation: 3677
Quote:
Originally Posted by Chowhound View Post
I have a co-worker that thinks this way. He thinks 70 to 90 percent taxes on the wealthy is fine with him. He said that if someone makes 10M a year and is taxed at 90 percent he still makes a million a year. That should be enough money to him.

I looked at him and I was speechless. If someone is making 10M yr they most likely a highly productive people and talented. Why should they be taxed and essentially punished for being successful.
Some people think that if they cant get ahead somehow, the next best thing it to punish those who did get ahead.
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Old Today, 09:58 AM
 
1,137 posts, read 214,369 times
Reputation: 784
How much in a flat tax, would the US need to put on EVERY person earning income, to pay for the US budget today?
Considering 50% dont pay any federal taxes today..

That way it would be "fair" for everybody... and everybody had "representation".

10% Flat tax?
20% Flat tax?
30% Flat tax?
40% Flat tax?
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Old Today, 10:09 AM
 
11,459 posts, read 6,003,072 times
Reputation: 3677
Quote:
Originally Posted by Northman83 View Post
How much in a flat tax, would the US need to put on EVERY person earning income, to pay for the US budget today?
Considering 50% dont pay any federal taxes today..

That way it would be "fair" for everybody... and everybody had "representation".

10% Flat tax?
20% Flat tax?
30% Flat tax?
40% Flat tax?
Lets just bump the Andrew Yang money giveaway to $50K per person per month, and have a flat tax of 40% on everyone. Problem solved!
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