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Advisor

Re: Higher taxes, lower incentive

Are we to take it that you'd prefer to go back to teh income and earning potential that you were at in '64 if ONLY taxes could be lowered to what they were then? You'd seeriously be willing to take your chances on everything else?

 

How is government the exclusive driver for inflation? Does the government speculate on commodities and inputs?

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Senior Advisor

Re: Higher taxes, lower incentive

Exaggeration does not add value to your comments. In fact it diminishes your credibility.

 

I don't remember a time when there was no sales taxes on an auto in Iowa and I am older than dirt. Are you saying that sales taxes are 70% today because that would be 70 times !%.

 

You just cannot help yourself with the exaggeration. Are you authoring your comments are are plagiarizing them from someone else? Hopefully, you are a vixctim of some willful propagandist.

 

Do we pay more taxes? Certainly because we make more money. Partly as aresult of inflation. But then our taxes are spent on inflated goods and services so it takes more dollars to buy them.

 

We have been cutting taxes since the 80-'s. Not only in tax rates but tax incentives that allow redirecting so much tax revenues to provide incentives to reward financial behavior. There is simply too much revenue that is avoided and the treasury cannot afford it.

 

I'm sorry you cannit compete and make it. Thousands are and are living proof that the affluent are not over taxed.

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Senior Advisor

Re: lest you forgot

I suppose you have documentation for those comments. We wouldn't want to find you guilty of exaggeration.

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Senior Contributor

Cut Through The Hog Wash

First, I think that when some people talk about taxes, they are talking about any kind of tax. However there is also much talk in the thread about the "government," various presidents and taxes. Let's be fair on what we are talking about. Sure, there are payroll taxes too, business tax, corporate tax, but I think we seem to be discussing here income tax. It is pointless to drag state and local taxes into the frey here because those are not under Federal control and it won't do a darn bit of good to compare what the Feds do to what state and local does.

 

As far as income tax goes, it is thus:

 

if you earn say $50,000, you will pay (2010 taxes) $8,688 single or $6,666 joint. That's a fact (see IRS Tax tables here)

Fir a single person, that is 17.37%. For joint filing, that is 13.33%. Then you get deductions even if it is the standard deduction, so this is the high rate.

 

On an upper limit of personal income tax for people earning $98,950 is 17.28% for married people filing jointly and 21.64% for single filers.

 

This covers the majority of Americans. Sure, there are higher brackets. You guys can discuss that. I just wanted this out there in the basic info because most fit into these tables.

 

See the rates for higher percentages in the worksheet and notice the deductions. 35% seems to be the highest with a substantial deduction taken from that.

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Senior Advisor

Re: Cut Through The Hog Wash

A lot of folks talk about high tax rates and the quote the rate on the last dollar they make. This is erronious because the pay the lowest rate on the first dollar and it increases at various income levels Those paying the highest tax rates have enjoyed thousands of dollars worth of income at the lower rates.

 

I guess they prefer to exaggerate how onerous the tax code is. Infact the taxes are paid on adjusted gross income which is your income after you have deducted every possible deduction known to man.

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Senior Contributor

Re: dems cant figure

my taxes are what the gov takes and the rest is what i keep --exactly why do dumocrats try and belittle the true taxes americans pay-----guess all those DEGREES have them  confused

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Senior Contributor

Re: dems cant figure

Actually, Ollie, it is quite easy to understand if you will bother to look at the link I provided in my pevious post. 98% of all Americans pay less than 35% and the vast majority pay much less than that. All Obama did is to cut what we pay. You can't prove otherwise and you certainly won't. You may lie, but that's OK, we know you must.

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Senior Contributor

Re: in your dreams

i know of no one who pays taxes that pays under 50% unless you use dumocrat fuzzy math ----which of my figures was NOT correct--this should help you your mouth shut ---i have NEVER lied in a post --if you think so PROVE it or as al good dumocrats  cut-run and  hide---oh just for the heck of find 100 people and then ask 98 of them what they pay ---your answer was ludicrous also do you pay taxes--if so then what is YOUR rate

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Senior Contributor

Re: in your dreams

"if you earn say $50,000, you will pay (2010 taxes) $8,688 single or $6,666 joint. That's a fact (see IRS Tax tables here)

Fir a single person, that is 17.37%. For joint filing, that is 13.33%. Then you get deductions even if it is the standard deduction, so this is the high rate." (without standard deductions)

 

No single or married person making $373,000 or more is taxed more than 35% federal income tax and then they get a $25,682 deduction.

 

I have linked proof from IRS tax tables. So if you say otherwise, whether you admit it of not, you are a liar. Perhaps there is some stipulation for the self-employed to be taxed more, but I am not sure about that.

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Senior Contributor

Re: your hedging again

ONE MORE TIME of all the people who you know that pay taxes of all kinds --how many do you know who pay the amount your chart shows --we all know figures lie and again if you SIMPLY add fed tax --state tax --sales tax you are over 48% on the regular tax payer -----WHY do dumocrats not want to add them together