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Old 08-21-2020, 5:53pm   #21
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It's my money. Why do I need to post x% to the government?
If you didn't want to answer then why post?
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Old 08-21-2020, 5:54pm   #22
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Are you talking to me?
Well, in case you are, I will respond thusly.

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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.
I don't really understand this part of your question. Single earners with a $250K taxable income would pay about 25% of their income to Federal Income tax. The rate would only be going up from there as they continue to move through the 35% rate, and into the 37% rate. A single earner with $1 million in taxable income would pay 33% to Federal Income Tax with current tax rates.

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:
Part 1
You must answer with a rate.

20%, 40%, 60%, 80%?
I thought I answered this question directly, that over 50% is unjustifiable.

When you answer that question continue to part 2.

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Part 2
At what percentage does the American population not accept it?
At what percentage does the American Millionaire population just leave?
I am sure I don't understand this question. Lower income earners ALWAYS feel like "the rich aren't paying their fair share", regardless of how much the rich pay on a dollar basis or a percentage basis. The whole "socialism" movement currently underway is fueled simply by low productivity people who want nothing more than to see oodles of cash taken from the billionaires in our country, and presumably, paid to them through government handouts. You could tax the incomes of billionaires at 99%, and the ne'er do wells at 0%, and as long as those rich people are still worth a billion, the takers will demand that the government take more from them.

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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Old 08-21-2020, 6:07pm   #23
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O.k. Doug.
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Old 08-21-2020, 6:15pm   #24
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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.
Na you ballers should pay for everyone. Lol

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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Old 08-21-2020, 7:13pm   #25
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How do you not thank a post?
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Old 08-21-2020, 7:35pm   #26
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In 2012 French Pres. Hollande forced a 75% tax rate for all reporting >Ä1M

Anybody if anyone who was targeted moved to the Us, Belgium or predominately Russia to avoid this surcharge

Dropped after 2 yrs when the didnít collect anything
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Old 08-22-2020, 2:48am   #27
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In 2012 French Pres. Hollande forced a 75% tax rate for all reporting >Ä1M



Anybody if anyone who was targeted moved to the Us, Belgium or predominately Russia to avoid this surcharge



Dropped after 2 yrs when the didnít collect anything
Liberals never, ever, ever learn.
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Old 08-22-2020, 4:15am   #28
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Looks good to me.



https://www.google.com/url?sa=t&sour...Y-ZYVXSJ7RWyHv
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Old 08-22-2020, 10:04am   #29
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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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Old 08-22-2020, 10:06am   #30
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Yup. The wife and I do well because we worked our asses off.

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.
If working your ass off was all there was to it Iíd be starting threads like this.
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Old 08-22-2020, 10:46am   #31
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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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Old 08-22-2020, 10:59am   #32
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If working your ass off was all there was to it Iíd be starting threads like this.
Full time job in the Army and her a nurse, raising a child and both of us were able to get educated.

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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Old 08-22-2020, 11:25am   #33
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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.
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Old 08-22-2020, 6:23pm   #34
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Full time job in the Army and her a nurse, raising a child and both of us were able to get educated.

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.
Truth be told I was close to you. Not 250 but close. My recent divorce cut that in half. I'll be OK however. I live within my means. I didn't plan on starting over at 58 years old but what are you gonna do besides carry on?
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Old 08-22-2020, 7:58pm   #35
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Truth be told I was close to you. Not 250 but close. My recent divorce cut that in half. I'll be OK however. I live within my means. I didn't plan on starting over at 58 years old but what are you gonna do besides carry on?
yep. Same boat man. Gotta keep at it
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Old 08-22-2020, 8:21pm   #36
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Truth be told I was close to you. Not 250 but close. My recent divorce cut that in half. I'll be OK however. I live within my means. I didn't plan on starting over at 58 years old but what are you gonna do besides carry on?
Why is divorce so expensive? Because it's ****ing WORTH IT!!!!

Right, Donnie?
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Old 08-22-2020, 10:26pm   #37
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Why is divorce so expensive? Because it's ****ing WORTH IT!!!!



Right, Donnie?
It's cheaper to keep her
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Old 08-23-2020, 5:29am   #38
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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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Old 08-23-2020, 5:53am   #39
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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%.
I have always wondered if this is one of the reasons why a flat tax has never been seriously considered. It's not just the IRS, there is a whole industry surrounding tax preparation and tax planning, and probably 90% of them would not only be out of a job, but would have to be re-trained to do something else.
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Old 08-23-2020, 6:24am   #40
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It's cheaper to keep her
IF you can.......
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