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Old 07-18-2024, 02:02 PM
  #191  
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Originally Posted by sailingfun
My effective tax rate was closer to 50%.
If your effective tax rate is 50% you are doing something horrible wrong
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Old 07-18-2024, 02:05 PM
  #192  
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Originally Posted by Buck Rogers
From PEW Research regarding Federal Income Tax....


"Another 60.3 million returns showed AGIs of less than $30,000. The average effective tax rate for those taxpayers was 1.5%, even before refundable tax credits were applied.Millions of Americans actually get money from the IRS, largely due to refundable tax credits. (This is distinct from the refunds eagerly awaited by legions of taxpayers, which typically result from more tax being withheld from people’s paychecks than they end up owing.)

After refundable credits were figured in, taxpayers with AGIs below $30,000 (including those with no AGI or with negative AGI) collectively got back more than $78.6 billion from the IRS in 2020. For taxpayers with AGIs between $1 and $15,000, their average effective tax rate fell to ‑14.8%, from ‑10.3% in 2019, largely due to coronavirus pandemic-related federal relief efforts, some of which were structured as tax credits."



So, these 60.3 million "taxpayers" use the same roads and get the same protection of the military, but not only do they not pay anything for those services.....They are paid to use the services by the other almost 50% of the population who actually do pay federal income tax.

Should we send a bill to those 60.3 million for their use of societies infastructure or should the other taxpayers pay them to use those facilities?

It's kinda similiar to the .gov "forgiving student load debt" paid for by............ the other taxpayers.

Buying votes has to be at least considered in the equation as well as the "need" and "afford" and "pay your fair share".

I dunno man. It’s hard to live off 30k a year. I’d imagine that’s what a lot of people around the airport make, working full time. I have no problem taking on more of the tax burden so those people aren’t entirely destitute. Yes, I would like my tax dollars spent as efficiently as possible, but I consider myself extremely lucky I’m in a position where I’m paying 6 figures in taxes. In other words I’m happy to pay for those peoples roads and public schools.
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Old 07-18-2024, 02:22 PM
  #193  
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Originally Posted by Extenda
I dunno man. It’s hard to live off 30k a year. I’d imagine that’s what a lot of people around the airport make, working full time. I have no problem taking on more of the tax burden so those people aren’t entirely destitute. Yes, I would like my tax dollars spent as efficiently as possible, but I consider myself extremely lucky I’m in a position where I’m paying 6 figures in taxes. In other words I’m happy to pay for those peoples roads and public schools.
It should also be pointed out that those people do pay sales tax, gas tax and, even if they rent, they'll pay property tax as it's contained within their rent amount. So they are technically paying for schools and roads to some extent.
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Old 07-18-2024, 02:38 PM
  #194  
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Originally Posted by SideStickMonkey
If your effective tax rate is 50% you are doing something horrible wrong
the only thing he is doing wrong is following the law I guess. You are paying that much as well, you just don’t know it.

he said that was his rate after income tax, sales tax, breathing tax, not breathing tax, additional overcharge tax and of course the FED devaluing our currency and inflation.

yeah, we are close to 50 percent.
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Old 07-18-2024, 02:54 PM
  #195  
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Originally Posted by PNWFlyer
the only thing he is doing wrong is following the law I guess. You are paying that much as well, you just don’t know it.

he said that was his rate after income tax, sales tax, breathing tax, not breathing tax, additional overcharge tax and of course the FED devaluing our currency and inflation.

yeah, we are close to 50 percent.
That's not true either. According to a study done in 2024, NY topped the list of total tax burden at over 12%. All but 6 were below 10%. So if your effective federal tax rate is 17%, even the highest tax burden state of NY only adds 13% to that. 30% is not 50%
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Old 07-18-2024, 03:15 PM
  #196  
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Originally Posted by notEnuf
Theft your representative government has instituted. You never drive on public roads, or have children you don't home school or have any reason to help fund research inovation in any field of study. Corporation would definately be environmentally responsible if there wasn't oversite, and besides you don't breathe air or drink water because you are a bot.

If you think crime is bad, take away food and housing assistance for people who depend on it, it could only get better, right?

Welcome to the third world, you're gonna love it.
This guy gets it.
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Old 07-18-2024, 03:47 PM
  #197  
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Originally Posted by CBreezy
That's quite the hyperbole. The highest effective tax rate even for the highest earners in this country is around 25%.

And that's why we have elected representatives. They go and can change how much and where taxes go. I don't disagree that we need to cut out some bloat...to include and especially within our military. But the libertarian theory is far more absurd. In order to have a functional society and not an aristocracy, our infrastructure absolutely needs to be maintained.
The Laffer Curve is a real thing.

My favorite niche podcaster has a standing line about libertarians.

“If you encounter a libertarian while walking down the street, punch him in the nose. He’ll know why.”

(They’ll be no cutting. Cuts deep enough to just balance the budget and still have trillions in debt would cause a Great Depression…probably globally)

I’ve no solutions. Nobody does. Maybe magic our way out of it with AI and robots.

There’s precedence. Malthusian predictions about mass die offs due to famine mostly went away because of Norman Borlaug and his invention of dwarf wheat.

(I wouldn’t bet that way. The “Star Trek” solution is, after all, fiction)
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Old 07-18-2024, 04:05 PM
  #198  
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Originally Posted by CBreezy
That's not true either. According to a study done in 2024, NY topped the list of total tax burden at over 12%. All but 6 were below 10%. So if your effective federal tax rate is 17%, even the highest tax burden state of NY only adds 13% to that. 30% is not 50%
I was in Virginia for years. My tax burden was well over 10% just from state/local income and property taxes when I was a 320 Captain.
5.85% state income
2.36% property tax ($6500 on 275k income. On a 1450sqft 3/2 on .25 acre)
3.02% personal property tax ($8300 on 3 cars, 2 motorcycles and a camper)

That's 11.23% of a 275k income. While the income tax total would drop if I had a say 120k a year job, that would be 12.33% on just property taxes alone.

And none of the vehicles are luxury. My two pickups (one is a 25 year old airport beater) don't have carpet. Or power anything besides windows. My wife's car is an XLT trim level Expedition. Motorcycles are 21 and 42 years old.


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Old 07-18-2024, 04:53 PM
  #199  
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Originally Posted by SawF16
This guy gets it.
What does he get? That our government is the largest most corrupt bloated institution in the history of the world? And the average citizen has to work four months a year just to pay their tax bill for the year so we can send bombs to Ukraine? People talking about roads like any of our money really goes to that. Seriously, you think your income tax is going to road funding? You guys are funny.
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Old 07-18-2024, 05:06 PM
  #200  
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Originally Posted by Nantonaku
What does he get? That our government is the largest most corrupt bloated institution in the history of the world? And the average citizen has to work four months a year just to pay their tax bill for the year so we can send bombs to Ukraine? People talking about roads like any of our money really goes to that. Seriously, you think your income tax is going to road funding? You guys are funny.
So you want to defund the military?
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