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Off Topic Off Topic - General non-Corvette related discussion. |
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08-21-2020, 6:53pm | #21 | ||||||
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08-21-2020, 6:54pm | #22 | |||||||||
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Well, in case you are, I will respond thusly.
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SS tax ends at $137,700 in 2020, effectively lowering the effective overall tax rate on earnings beyond that threshold. The 20% rate makes no sense to me, and I struggle to figure out exactly what you are looking for. Quote:
When you answer that question continue to part 2. Quote:
I worry little about the super-rich leaving the USA. It has become quite obvious that a huge amount (maybe basically all?) of our so-called leaders have been bought and paid for. They will not pass legislation that will cause their sugar-daddies to abandon them. |
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08-21-2020, 7:07pm | #23 | ||||||
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O.k. Doug.
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08-21-2020, 7:15pm | #24 | |||||||
Dogface
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Part 1.I say 20%. I think it should be a crime for the government to be taking this much money from people to pay for their BS. I am past that point already!!! Part 2 I think there would be some issues when it gets to 60-80% range. Not sure when they decide to leave, but they have found ways to put their money in outside places to not pay excess taxes already so maybe they will never leave? |
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08-21-2020, 8:13pm | #25 | ||||||
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How do you not thank a post?
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08-21-2020, 8:35pm | #26 | ||||||
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In 2012 French Pres. Hollande forced a 75% tax rate for all reporting >€1M
Anybody if anyone who was targeted moved to the Us, Belgium or predominately Russia to avoid this surcharge Dropped after 2 yrs when the didn’t collect anything |
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08-22-2020, 3:48am | #27 | ||||||
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Liberals never, ever, ever learn.
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08-22-2020, 11:04am | #28 | ||||||
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Which person makes out better after taxes. The one who pays 25% of $50,000 or the one who makes $1,000,000 and pays 50%.
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08-22-2020, 11:06am | #29 | ||||||
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08-22-2020, 11:46am | #30 | ||||||
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20% across the board is good. Then make the largest group of welfare recepients (all those elected and now sitting on the asses in Washington) take a pay cut to make up some of the difference. cap those bastards at 125K/yr and limit their terms. Same benefits as the rest of us after they leave office. I know, fat chamce of that happening and then no one would run for office.
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08-22-2020, 11:59am | #31 | |||||||
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Her a Masters and I am almost done with mine. Both of us are also certified in our professions as well. Not bragging but there for awhile it was 18-20 hours a day everyday for almost 10 years. |
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08-22-2020, 12:25pm | #32 | ||||||
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Threads like these are complicated and multi-faceted because of the variety of employment, taxable gross income, federal vs state taxation.
You've got corporations that have gotten away with insane tax breaks (IMO) and the 90%+ of companies in the US (all "small" businesses) are almost crippled at many tax levels. Then, we've got a substantial number of people that get a lot of subsidies and would rather sit on a porch drinking beer in the afternoon.... I certainly don't claim to have the answers but I'll tell you it's difficult being self employed and what it costs to keep my employees. I'm not large enough for health care bennies so I just write a check if I get sick. Very healthy family of 6 and our annual cost would be ~$20k and THAT is for the "privilege" of a $12k per person deductible. The big benefit is that I do get to write off a lot of my costs and that is a life saver. Scott
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08-22-2020, 7:23pm | #33 | |||||||
Goldilocks
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08-22-2020, 8:58pm | #34 | ||||||
Dogface
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08-22-2020, 9:21pm | #35 | |||||||
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Right, Donnie? |
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08-22-2020, 11:26pm | #36 | ||||||
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It's cheaper to keep her
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08-23-2020, 6:29am | #37 | ||||||
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Taxes are BS. Everyone talks about a 20% base tax rate. What would it look like if you did a 10% tax rate with a flat out 4-6% federal sales tax, not state sales tax. Money would be distributed from the budgeted amount of money collected last year. If you take in $200 Trillion you budget for $200 Trillion this year, not 300 or 400. Run the .gov like our personnel checking account. Don't spend more than you make and save for the future.
It would be interesting math to figure out how much money would be taken in and how much debt paid off with the flat tax and sales tax. Imaging how many IRS people would be out of work. Each pay check 10% of your money is out and to the .gov with nothing else. You have 10 kids, 10% no deductions. You have no children, 10% no deductions. Makes the form very easy to fill out, well there would be no form would there. Same would apply to business, 10% and no deductions. For those companies who take off overseas to avoid the tax, there could be ways to impose duties on them to recover the 10%. |
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08-23-2020, 6:53am | #38 | |||||||
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08-23-2020, 7:24am | #39 | ||||||
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08-23-2020, 11:19am | #40 | ||||||
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