What is your answer to this tax question?
 

What rate is justified for government to take?

For earners over 250K of net income we pay an effective Income Tax rate of around 20% to Federal.

If you take the payroll tax of about 8% and then all the local and state taxes I am around 40% paid to the government.

Part 1
You must answer with a rate.

20%, 40%, 60%, 80%?

When you answer that question continue to part 2.

Part 2
At what percentage does the American population not accept it?
At what percentage does the American Millionaire population just leave?





I just heard a U.S. Senator say that we need to raise taxes.

20% across the board....
Taking almost half of one's income is crazy regardless of what the total income is
I'd be willing to bet that if the tax rate was reasonable you and others would be able to build up and grow creating more job opportunities for us

Part 3; Holy hell you make a lot of money.

I'd be good with 20%. I pay more than that now. You know. Part of the 52% carrying the rest of the country.:shots:

They're relatively low now

https://bradfordtaxinstitute.com/Lib...6c900cdf09.JPG

Yup. The wife and I do well because we worked our asses off.:yesnod:

I am 100% investing all of it in the 66 acres we own. It will be a million dollar property when I am done in 5 years.

I think the OP was talking about total State, Federal and local as a sum total?

No because it has been made up with all the other taxation.


Property tax
School tax
Sales tax
Gas tax
Vehicle registration tax
Locality tax

not all income is taxed the same way. some income has a zero rate. and money taken out of savings, that has already had taxes paid on it long ago, generates no tax bill either.

in retirement, it's hard to generate more income, but it's easier to control your spending.

There is a tipping point. As that balance continues to shift there will come a time where the top 5% will just leave.

When that happens you will see a collapse of the economy instantly.

Forget the rate, I'm already at my breaking point. My next 8-12 weeks will be working on 3 40-hour-per-week jobs. My pay won't move a penny. My Federal taxes, as a middle class worker, are already in excess of what a large chunk of US people earn in a year.

I vote for 25% tax, with no limit, and no deductions. In fact, it should be flat over a certain minimum amount (call that your basic living wage). You have to earn it, and it won't be taxed, after that, you contribute. You make an extra 10k per year over that basic wage, you pay a 2500 tax. I make another 300k over that minimum bar, I pay 75k. You and I both work the same number of hours (not really, I work more), but I'd gladly pay a flat tax of 25% on all of my wages over that level. You pay 2,500, I pay 75,000. You and all of your cronies get the benefit of my extra effort, but you don't dip any more deeply into my pockets. You too my friend need to have skin in the game.

historically, the Jews in the OT paid an effective tax rate of about 23 to 25 percent.

and in ancient Egypt, Joseph imposed a tax rate of 20% before the famine came.

so our average burden of about 20% is not out of line with history.

or you can do what Reagan did long ago: figure out how much you need to earn for the year, and then stop working, as he saw no point in working all day just to hand it over to .gov. :DAB:

Both sides use the top tax rate as a political football. The top rate under Carter was 70%, Reagan reduced it to 50% in 1981, then to 28% in 1986. The super-rich guy who owned the company I worked for in the late '80s railed almost non-stop about how Reagan "ruined the USA", because he had to pay a gigantic amount more tax. In fact, the entire top quintile of earners saw their share of the Federal income tax skyrocket during the Reagan years.

Why? I'll give you one example: Under Carter, Country Club dues was tax deductible. Reagan got rid of that deduction, along with untold numbers of "tax shelters".

20-25% flat tax for everyone above 35-40k

Personal Property tax eliminated. Violation of personal property rights.

School tax eliminated if you have no children in school.

Flat sales tax at 5%. No exemptions.

No Federal gas tax. State is fine.

You didn't answer.

:toetap:

:shrug:

Having been self-employed for years, paying double SS and Medicare, the years I made a lot of consulting bucks, got into a high Fed bracket, and paying the highest NJ rate, my total effective payroll tax rate was over 50%. IMO, there is no way you can justify paying more than half of your earnings in payroll taxes, only to pay more tax when you buy something. It creates a dis-incentive to finding and completing more work, that is clearly bad for our country. Or worse, finding ways to get paid "under the table".

Are you avoiding the question for a reason?

Are you talking to me?

Would you like a STFU?

It's my money. Why do I need to pay any x% to the government?