Desi Cartman Posted August 15, 2012 Posted August 15, 2012 Let me ask you one thing then, why is it that people like Romney end up paying less tax than lurker and probably people like yourself ? There are slabs and neither lurker nor romney paid any tax on the first 30k as that is the bare minimum a person needs to live on. As for salaried people, in Aus I actually started by flipping burgers at KFC and few years later was making enough money to be in the top tier of tax rate. Did I feel it was unfair that I was paying more % tax as my income went up, yes and did I feel it was unfair at times, yes. I also saw that everybody had the same healthcare, everybody had food to eat , there are no soup kitchens and there are almost no homeless. So did I mind pitching a little bit for mentally ill, not at all. I know some people are working and are on dole at the same time but mostly people who get help are the ones who need it. In the US I see homeless, I see menatally ill on the street, there are mental hospitals which have been shut down and those people have no where to go. So I ask you, would you be willing to contribute 5 bucks a month for those poor people and allow someone who makes less than you to contribute $1 or is it about either he also pays 5 bucks or we let the mentally ill live on the road ? It may be a little off topic in a way but that my honest view of USA.
Lurker Posted August 15, 2012 Posted August 15, 2012 There are slabs and neither lurker nor romney paid any tax on the first 30k as that is the bare minimum a person needs to live on. As for salaried people, in Aus I actually started by flipping burgers at KFC and few years later was making enough money to be in the top tier of tax rate. Did I feel it was unfair that I was paying more % tax as my income went up, yes and did I feel it was unfair at times, yes. I will pay extra tax just to watch you flip the burgers and not get tempted enough to eat them!:roti: On the whole salaried thingy, I think this is where Conservatives (not CA) have been intellactualy dishonest. They have turned this into a class warfare within salaried class when none exists. As a salaried guy I dont mind people who make 50K to 500K getting taxed (say) but I do mind billionaire not getting taxed and use the logic of "job/wealth creators" to get away with it.
Lurker Posted August 15, 2012 Posted August 15, 2012 I dont even know if I am a conservative or liberal Lurker' date=' either side is not appealing to me anymore. Used to align myself with a lot of fiscal conservative policies not the dingbat craziness that is common nowadays.[/quote'] Join the club. I am sick of Liberals turning into Entitlement seeking class and not asking hard questions, both to themselves and the nation.
yoda Posted August 16, 2012 Posted August 16, 2012 I like flat rate for a bracket: ex: 0-30k - 5%, 30k-50k - 7%, 50k-100k - 10%, ..., 1Mill + - 20% No loopholes, no deductions for these fake businesses like running a one person real estate brokerage company and deducting your car lease expenses, feck that.
Silva Posted August 16, 2012 Posted August 16, 2012 If people want European style welfare programs not only the rich but middle income earners have to pay a lot more as well. Part of the reason Nordic countries welfare programs work is because everyone is paying so much in taxes they have invested interest to make sure those programs run well. The US is still the only country that doesn't have a national vat tax which is mostly a tax that hurts the poor and middle class.
Lurker Posted August 16, 2012 Posted August 16, 2012 The latest edition of the institute’s annual Executive Excess compensation study found that in 2011, 26 CEOs received more in compensation than their companies paid in taxes, and that the four major tax loopholes contributing to excessive executive pay cost taxpayers about $14.4 billion a year http://abcnews.go.com/blogs/business/2012/08/taxpayers-subsidize-ceo-pay-report-says/ That should be the focus of debate CA, not me and you, the simple salaried blokes who would get screwed regardless.
Rajiv Posted August 16, 2012 Posted August 16, 2012 50K, 60K, 100K Its like this scene here Watch after 5:18 [ame=http://www.youtube.com/watch?v=BUFk2LSK8j4&feature=plcp]Green Card Fever part 2/12 - YouTube[/ame]
Clarke Posted September 30, 2012 Posted September 30, 2012 Actual overall burden in percent of income below, not that it matters since the John Galts aren't gonna invent the engine running on farts because of Obama's excessive regulation & taxes http://www.washingtonpost.com/blogs/ezra-klein/wp/2012/09/19/heres-why-the-47-percent-argument-is-an-abuse-of-tax-data/
Brainfade Posted November 13, 2012 Author Posted November 13, 2012 FC5Gkox-1QY&feature=player_embedded ucoP4-06O7M&feature=relmfu pES9C7fX_Co&feature=relmfu
gs Posted November 13, 2012 Posted November 13, 2012 I like flat rate for a bracket: ex: 0-30k - 5%, 30k-50k - 7%, 50k-100k - 10%, ..., 1Mill + - 20% No loopholes, no deductions for these fake businesses like running a one person real estate brokerage company and deducting your car lease expenses, feck that. Absolutely! The ultra rich sometimes have no salary as such and might be living off capital gains which is taxed much below regular income tax. They can further conceal and confuse IRS using a maze of special purpose vehicles and offshore accounts to pay only a pittance compared to what they actually owe. To take this a step further, no distinction should be made on the source of the income and should all be taxed at the flat rate depending on the bracket.
Recommended Posts