@BigFish but people arent being paid double bc taxes are that high. Employer pays what is values employee and if taxes go up they lose. Investment income causes a lot this but that should be redone totally those making less than like 250k should pay no taxes on investment.
@nxnn "It seems excessive" is arbitrary. People should make their decisions based on after tax income, so in reality the tax rate is irrelevant to the upper class. If you offered me 5 million tax free or 10 million fully taxed, the difference is moot.
For as many loop holes there are in the income tax...you would think all of these entitlement folk would love just doing a straight sales tax on everything...oh..wait, then they would have to pay. ouch...reality sucks.
@Einar5107 agreed. except the "minimum" should be changed to "standard of living" or something...either way, it's what's fair per market value. I'm actually for a flat tax with poverty levels and size of family built in as safeguards, sooo for the tax question, I say 15%
Our Federal, State, Local, School, etc. do NOT have a money problem, they have a spending problem. Income taxes take money away that could have been used to BUY a widget in return, creating a demand for products and creating jobs.
@jukeboxradio Look at it from this standpoint...I sacraficed time with my family during college, being deployed overseas, and my current job. Why should I give up what I earned through sacrafice to another person who has not earned it? What example does that send our kids?
@ReDxSiLLy you are missing the point, I am suggesting that those far better of in our societies have at least a moral duty to help those less fortunate and that that could be done by adjusting the tax slightly
@ReDxSiLLy right and poor people spend more of their income buying necessities than the rich. ..they also spend basically all of their income whereas rich can invest and earn income to offset the future sales taxes they pay when they use those funds to consume
@nxnn The poor would not get hit hard than anyone else. A poor person is not going to buy a $100,000+ car or a $200,000+ house, etc. The taxes are relative and flat...so they are based off of what you buy not what you make.