Can someone explain to me again why it's fair for me to be taxed at 2x the rate of ppl earning 20-150x my annual income? (death, companies)

[hoffdano]

Originally Posted by MTAtech

You are EXACTLY correct. What the right-wing does is put out theories as if we have no historical data to test the theory. Id one does, the conclusion would be that there is no factual case to support the theory that raising capital gains taxes decreases economic activity or lowering capital gains taxes increases economic activity.

As you point out, we've had spectacular growth when taxes were high and dismal economic activity after Bush lowered taxes to the lowest rates in 80 years.

The effective tax rate for a median income family of four is currently at historic lows. Lower than anytime after 1955.

Federal Income Taxes on Middle-Income Families Remain Near Historic Lows — Center on Budget and Policy Priorities

[hoffdano]

Originally Posted by Roadking2003

If you just hit the 33% marginal rate then your effective rate is probably about half of that.

And if you want to reduce it, you should take advantage of the tax provisions that Congress has legislated for the past 70 years. You could buy a house, have a bunch of kids, buy solar panels, invest in rental houses, invest in the stock market, suffer a robbery, carry over some capital losses from prior years, etc.

And whether or not you have to worry has no impact on taxes.

Wrong answer. Spending more money to achieve a marginal tax rate reduction is just bad finance. This is exactly the kind of behavior our ridiculous tax code inspires.

[Rakin]

Any registered Democrat Liberal should not mind being taxed 4X the amount I'm taxed. Being so generous with other peoples money you should lead the way.

Don't you want our Govt and all these poor folk to have more of your money ?

How about they cut spending and give us all some of OUR money back ?

[Mach50]

Originally Posted by ringwise

Tax "fairness" would be the 41% that pay NO taxes, start paying their FAIR share of taxes.

How about we start with the 1% we know that can pay now, then work towards getting blood from the stone of the 41%? I think the latter will be more difficult.

[freemkt]

Originally Posted by wjtwet

I do not see how your question relates to the fair tax program.

The fair tax program taxes rent and exempts purchase of an existing (used) home.

So a homeowner can buy an existing home and enjoy tax-free housing spending and consumption while a renter pays tax on all of his housing spending and consumption.

A homeowner would pay much less tax than a renter in the same home.

[Randomdude]

Originally Posted by Roadking2003

If I'm rich (let's say $50 million in the bank) I think the millions of dollars in taxes I would pay on my income, spending, houses, cars and boats would far exceed the governments meager subsidy of oil and water.

Try again.

The original post I responded to made the contention that everyone benefits equally from the pool of taxes, and that is absolutely not the case. It had nothing to do with people not benefitting to the exact level of taxes they put it.

I have paid taxes all my working life, not one year I ever filed a return have I ever had a zero tax liability. I can promise you I have never used up what I put it. I have no property outside of a beat up car to protect, I dont own a business, so my business assets arent consuming taxes. Until my most recent job, my jobs have always been pretty close to my house, so I havent used the roads that much. Ive never went on any kind of public assistance.


But Its just common human decency for those who actually can afford it to contribute more, so that someone else, who cant afford taxes at all, or not without taking food out of their families mouth, doesnt have to make that decision.

[Randomdude]

Originally Posted by hoffdano

How is it fair for people to benefit from society/government all paid by others?

I think the current figure is 47% of the taxpayers do not pay any federal income tax (not no taxes as some people mistakenly say).

Its because of the the top end of the "others" that much of the 47% has no tax liability.

I suggest if the rich dont like subsidizing the poor, maybe they should raise their salaries, so they can afford to contribute to the tax pool.

[jojajn]

Can someone explain to me again why it's fair for me to be taxed at 2x the rate of ppl earning 20-150x my annual income?

It is not fair. The phenomena that people, who are paying a higher tax rate than the wealthy, actually defend this is called Stockholm Syndrome.

[Mephistopheles]

Originally Posted by jojajn

Can someone explain to me again why it's fair for me to be taxed at 2x the rate of ppl earning 20-150x my annual income?

It is not fair. The phenomena that people, who are paying a higher tax rate than the wealthy, actually defend this, is called Stockholm Syndrome.

Touche! You summed it all up in a nutshell.

[Mephistopheles]