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False for federal taxes, true in most cases for state and local taxes.
No. False for state and local taxes, as well. The Institute on Taxation and Economic Policy posts these effective tax rates for the total of all local, state, and federal taxes:
Furthermore, as already posted in this forum, the bottom 20% are getting a $4.03 return in local and state government services for every $1 they pay in local and state taxes. They get a $14.76 return in federal government services for every $1 they pay in federal taxes.
I wish that we could better tailor our various tax payments to support the programs we approve of. In addition to not supporting public schools, I'd also not want to fund welfare, Section 8 and food stamp programs. Also certain military conflicts.
On the other hand, there should be minimum taxes and each individual selecting what programs they support and how much they want to go towards those programs. I would want my tax dollars used towards road and bridge maintenance.
I think that residential property taxes punish those who manage their money well enough to buy a residence. Renters should also pay a tax to support the basic city and town services they use. Families with children should pay towards whatever public or private schools they use. Parents are willing to pay crazy high prices for a house in a city or town with good public schools, instead they should be paying less for that house and more towards that particular public school's use fee for each child and each year they are in the school system.
City public transportation should not be subsidized and with such cheap use fares. City jobs pay well and they can afford to spend half the value of an hour of minimum wage towards each ride. If you are jobless, then don't ride the public bus or train just for kicks. Leave the seat for a working person.
It's really hard to say because I get hit with both income and property taxes. As a permanently childless adult, I do object to high property taxes that mostly go to support a public school system that I have never and will never ever use.
I'd really like to see annual fees charged for each child enrolled in a public school. Those families are using more of my city's services than I do. If we have annual dog licensing fees for dog owners, then surely there should be some sort of annual fees for every child enrolled in a public school.
They already do, via property and sale tax. With more kids, a family would likely needs (not "want") a bigger house, hence paying more for property tax. They also consume more, hence paying more sale tax.
However, this is veering off the original topic which is about income tax which mostly means federal income tax. Federal income tax doesn't pay for local public schools nor the city services.
Obama wants us to pay for the foodstamps, Obamaphone, housing expenses and give them free money under the earned income credit which is a windfall of money to the low income bracket... why work? Living good on the government is what many are accustomed to today.
Yet those who work and are the middle class have to foot the bill .. Obamacare will make the middle class insurance poor to yet again pay a higher cost to now cover those who get and expect everything free.
No amount is too much to Obama... after all he has to spread the wealth around leaving the middle class workers poor and the takers getting all and more and don't have to worry about a paycheck covering their expenses.
Is it fair to demand those who make more, pay more percentage of their income in tax?
It seems to me we all have 'skin in the game' with respect to running the nation and each should pay an equal percentage. I would also argue that fraud, waste and abuse as well as overly funded social payouts could reduce income taxes 50%.
For me this a question that is so abstract that it doesn't mean anything.
I think we should have a progressive tax code. But when we talk about taxes, it is difficult to know what people mean.
Do they mean federal income taxes?
Do they mean Social Security and Medicare taxes?
Do they mean state income and property taxes?
Do they mean sales taxes?
You get into silly season thinking by focusing on rates without context.
I think the first understanding what does the public want government to do. If you don't start with that then starting with taxes doesn't make sense.
Also, a flat tax in my opinion is a terrible idea. Rich people would get a huge tax cut and everyone else would pay a lot more.
I'd go with some kind of wealth tax. Get rid of income taxes all together.
We dont tax wealth, we tax income, so yes what you say is true, since rich people, are worth a lot of money, but most of them have little income.
Warren Buffet for example, keeps his yearly income at $100K a year from BRK.
Warren Buffet who touts that the rich should pay more in taxes is a hypocrite. He purposely set up his investment company (no dividends) so people don't pay taxes until they withdrawal. They are building wealth, not taxable income.
Both Buffet and Obama understand this. Obama supporters don't and Obama and Buffet knowingly fed Obama's supporters a bunch of lies.
Obama wants us to pay for the foodstamps, Obamaphone, housing expenses and give them free money under the earned income credit which is a windfall of money to the low income bracket... why work? Living good on the government is what many are accustomed to today.
Yet those who work and are the middle class have to foot the bill .. Obamacare will make the middle class insurance poor to yet again pay a higher cost to now cover those who get and expect everything free.
No amount is too much to Obama... after all he has to spread the wealth around leaving the middle class workers poor and the takers getting all and more and don't have to worry about a paycheck covering their expenses.
You do realize that all these programs (aside from the ACA) were in place before Obama took office, right?
The welfare spending that you're referring to accounts for all of 1% of Federal outlays.
I wish that we could better tailor our various tax payments to support the programs we approve of. In addition to not supporting public schools, I'd also not want to fund welfare, Section 8 and food stamp programs. Also certain military conflicts.
On the other hand, there should be minimum taxes and each individual selecting what programs they support and how much they want to go towards those programs. I would want my tax dollars used towards road and bridge maintenance.
I think that residential property taxes punish those who manage their money well enough to buy a residence. Renters should also pay a tax to support the basic city and town services they use. Families with children should pay towards whatever public or private schools they use. Parents are willing to pay crazy high prices for a house in a city or town with good public schools, instead they should be paying less for that house and more towards that particular public school's use fee for each child and each year they are in the school system.
City public transportation should not be subsidized and with such cheap use fares. City jobs pay well and they can afford to spend half the value of an hour of minimum wage towards each ride. If you are jobless, then don't ride the public bus or train just for kicks. Leave the seat for a working person.
You say what you want your taxes to be used for and things they cannot be used for. You do understand that every taxpayer probably would like their taxes spend differently than the government actually does, right?
Do you want veto power when the military does something - do you want to say "OK to spend money to defend against Iran but no money for Syria?" That will never work.
I accept that most of property taxes go to public schools in my area. My kids are finished with K-12 now. While they were in school, I didn't pay enough to cover the costs (about $10K per student per year in this area). Now I'm paying for other kids. That's OK with me. If I REALLY didn't agree with property taxes I could sell my house and rent instead (though the landlord's property taxes are really part of my rent).
The way to change how our government spends money is to elect people that do what we want. We are doing a poor job of that.
On the big topic of this thread - I think at the federal level, taxes need to be radically simplified. I find it offensive that the government uses taxes to modify our behavior. There should be no deductions for individuals. If you want a house, buy one. The affordability shouldn't be different because of a mortgage deduction. Give money to charity because you can and want to. Not because of a deduction. Why is there a deduction for dependents? There should be no difference for married or not (that would remove most of the government's interest in gay marriage).
I cannot fathom why we are allowed to deduct state taxes paid on our federal returns.
The simpler the tax code, the less fraud and cheating.
Everyone but the lowest 20% should pay some income tax. I strongly believe you should "feel" that you are helping pay for the government. Even if only $100.
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