Originally Posted by Doctor David
Anyone who pays 70% taxes is getting ripped off by their accountant for about 40% of that. The top tax rate is 28%.
I'm talking total tax rate, not just federal income tax. People making a modest income often pay %70 taxes. For instance, %20 federal, %17 Social Security, %6 medicare, etc, %10 state taxes... how far are we? That's %53 right there. Then for all of your expenses you pay sales taxes, which is usually another %8, though for things like Gas and Airplane tickets it is as high as %50. Let's just call the total %61. Then there's unemployment insurance, and the built in taxes on the products you buy that you don't see, which in some cases is itself %90 of the cost of what you pay for the time.
Hell, if you got your way, that would be %40+%17+%6+%12+%10 = %85. Or, put in real terms: %15 free man, %85 slave working to support scum who can't be bothered to get off of their asses.
The dems want to let the bush tax cuts for the rich expire.
It really is sad to see people trot out that lie, even after all these years. The bush tax cuts, reduced the amount that poor people pay by %50 and the amount rich people pay by %3. So, when you call them "for the rich" you're lying, of course. But maybe you're just a poor disadvantaged mentally challenged person who can't do math?
And "letting them expire" is the same as raising taxes. Only, those tax cuts were for the poor, primarily, but the democrats are talking about taxing the rich. so, while they may reverse those tax cuts--- increasing taxes on the poor by %50--- it won't be "sticking it to the rich" when they do.
But you lot of lazy ass sitters will run around and pretend like you didn't just screw over all the poor people in the country.
By the way, the cuts Bush originally proposed would have cut poor people's taxes even further, but the democrats opposed that. Cause democrats like the poor? Right... sure....
That would bring the tax rate for the wealthiest Americans to 39.6%. Which is what the tax rate was under Clinton and back then we had a budget surplus and a good economy.
Right, so, taking %40 of people's money produces a good economy? You probably believe that too.
You're writing fiction. Just like ayn rand.
Its really a shame that your positions are so bad that you can't be honest, and can't talk about the issues, and instead have to engage in personal attacks.
By the way, my tax rate is zero. I live outside the USA, and have structured my life so that I don't have to pay into your failing system.
I also knew the housing bubble was coming in 2001, and profited from it all the way up until 2007, when I switched my positions to profit from the collapse.
It wasn't perfect timing-- I was off by about 6 months-- but I still made out like gangbusters.
How'd you do?
Enjoy your sucky economy-- you asked for it!