Equity in payroll taxes? How would that work in your view? I would like to know what you think the fair amount of tax each one of these people would pay to the goverment? $250,000 $100,000 $50,000 $33,000 $20,000
I don't see what is so "insanely low" about the minimum wage. Most minimum wage workers are teenagers from middle class families. I would like to keep them out of the gutter as well, as I don't want them begging me for money on the street corner. That is why I support much better tax incentives for charities & government funding for the mentally ill. But it isn't just you. Everyone has to pay it & most aren't glad to do it. Care to expand on this? I'm curious what you mean.
If you are not medically disabled or dumb or lazy then there is no reason for you to be poor. I am not a particularly gifted person and I don't have any special talents other than figuring out what is expected of me and doing it, plus a little more. In exchange, I earn a steady paycheck and don't need to have someone else's money redistributed to me. There are a lot of hard working people who live below the poverty line. If they had sought an education or training back when they were younger, they might not have to struggle so much now. Sorry gumborue. You ain't gettin' none of mine without a fight.
the same percentage for all (6.2%). aint how it works now bro. Mr and Mrs $2mil pay $6045 Mr and Mrs $250k pay $6045 Mr and Mrs $100k pay $6045 Mr and Mrs $50k pay $3100 here's another thing they should do. either increase capital gains (say, to avg or highest income tax level) or clamp down on income being reported as capital gains. for example, our dear president was given a nice chunk of change by the majority owners of the Tx Rangers when it was sold for profit ("profit" here actually meaning all from taxes--"redistribution of wealth", if you will--but thats another story). bush reports that $ as capital gains on taxes when clearly (ok, to me) its income (a bonus of sorts) and not a return on investment. low capital gains tax is a ruse used by the GOP to let the super rich off the hook---all in the name of "economic health". all the while all us middle class puppets are ok with it because we'd rather pay $1500/yr on the $20k/yr we make in investments instead of $2500. meanwhile, the super rich dont have incomes--its all capital gains.
... you sure about that? :huh: How is this profit all from Taxes...? I completely disagree with you. This is absolutely the case of a return on an investment, "capital gains". Bush didn't do any work to get this money. He bought into a share of the team, and then reaped a profit due to their success. This is no different than investing in stock. Capital gains tax is a double tax. The corporation was taxed on their profit, which the capital gain is only a reflection of.
yep. this year, no payroll taxes over $97,5 bush had a small stake in the team. he politics to get the govt (local, i think) to pay for a stadium with a sales tax increase (i know, stupid them). value of the team immediately goes up because they play in a new stadium. owners sell for huge profit (oddly enough, just about the same amount of $ that the tax increase raised). bush gets bonus. obviously there is no proof that he got a bonus because of the taxes, but most would agree that the sale price would be much less without them. "His share was 1.8 percent equity interest, plus another 10 percent bonus if the team is later sold and the investors get back their original investment plus interest." http://espn.go.com/mlb/bush/timeline.htmlbonus= wages not capital gains. Capital gains tax is a double tax. The corporation was taxed on their profit, which the capital gain is only a reflection of.[/QUOTE] there a lot of double taxes. i guess you could say income tax is one because the employer was already taxed too.
I grew up in a trailer park. My family is now firmly entrenched in the upper middle class. Difference between my Dad and his family versus his brothers/sisters? Hard work, education and sacrifice. My Dad worked for everything he has. His brothers/sisters largely tried to work the system - they're still struggling. Our system of government doesn't reward work at all. Human nature rewards hard work. And hard work means more than 8 hours of sweat and toil. It means taking advantage of a free education, denying yourself things you can't afford, and delaying gratification until you can own vs. rent. By the way, there is no other system of government that offers so much hope to those not born into wealth. None. Which is why liberal democracy and capitalism spreads and socialism/communism is all but a memory.
A. Minimum wage is for college students and part-timers. Stupid argument. Labor is a market. You get paid based on supply and demand. B. Farm subsidies are a WHOLE different animal. They should go away, like almost every other handout. C. The wealthy pay 75% of the federal taxes. My opinion only - Income taxes should go away completely. You should only pay taxes when you spend on non-subsistence items. Why should I pay more tax because I've worked harder in school and competed better in the work place, regardless of my spending habits or how much I use government services? Makes zero sense.
And they make 90% of the income! As a percentage of their income, the wealthy pay less than the middle class. A billionaire pays the same tax on a CD or a football ticket that you do. Replacing income tax with a sales tax is a huge windfall to the super rich. They can get filthy rich with no taxes on the capital gains and dividend income they make from investments. Unless they are wasteful spendthrifts (and most of them are not) it costs them little more to live than it costs you and me. Meanwhile the middle class has to pay huge new 35% sales taxes eating up practically their entire paycheck, leaving little or none to invest for the future. You don't pay taxes on either of those things! You pay more taxes if you make more money. You've taken more opportunities built into the American government and economic system to succeed, so you owe more back to the system. We pay according to the degree which we have taken advantage of the system and our ability to pay.
Depends on how you define income. But I'll grant it. Doesn't change the fact that the wealthy already carry the tax burden. If they create the jobs, produce the goods, then they deserve the income. Like I said, I don't believe in income taxes. No, you buy what you can afford. Yes, a DVD or an LSU ticket costs the same. But the BMW and the fancy hotel suite only cost the middle class guy if he chooses to prioritize them. And 35% is only necessary if you insist on supplying a nanny state and coddling a chronic underclass. I'm not speaking notionally, I'm speaking from experience in my own life. There's an underclass straddling the poverty line that is quite content to live on food stamps and watch Oprah and complain about the rich. I know many of these people very, very well. Sorry Red, but that's backwards in my view. I went to public schools. I earned scholarships. I joined the military. I did what I had to do to make sure that I could build a family and a life. None of this was handed to me. My money should be my own to spend as I see fit, and I should therefore have a choice in how much tax I pay based on what things I decide I just have to have. If I want to live modestly and hoard my money, that's my business and the government or the underclass should have no right to interfere with that business. You underestimate, I believe, how pure vanity would supply plenty of sales tax dollars to replace an income tax. Just an opinion.
