Taxes
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28-03-2017, 06:59 AM (This post was last modified: 28-03-2017 03:26 PM by Full Circle.)
RE: Taxes
(28-03-2017 05:24 AM)Popeyes Pappy Wrote:  Yea there's a definitely a limit, but you can still give the bottom 99.9% a tax break by shifting the burden to the top 0.1% while keeping the rates well below what they were pre Regan. In 1981 the top bracket was 70%, and that was on everything over $215,400. According to this calculation we could keep everything below $800K lower than the current top rate.

[Image: aETE4J9.jpg]

Where did you get your original income figures?

That breakdown certainly works and I like how clean the tax brackets are.

The figures come from here.

The infographic that got me started.

[Image: Distribution.png]

“I am quite sure now that often, very often, in matters concerning religion and politics a man’s reasoning powers are not above the monkey’s.”~Mark Twain
“Ocean: A body of water occupying about two-thirds of a world made for man - who has no gills.”~ Ambrose Bierce
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28-03-2017, 07:04 AM (This post was last modified: 28-03-2017 07:22 AM by Full Circle.)
RE: Taxes
There are other great visualizations if you follow the links at the bottom, for instance this one.

[Image: IncomeGuide_2013_Jan17_RGB_page-11_11.png]
http://ritholtz.com/2013/12/visualizing-...tribution/

and this one

[Image: -1x-1.png]
https://www.bloomberg.com/view/articles/...-the-0-01-

As I mentioned in another post it is clear what the Reagan era brought with changes to the tax code, a spiraling inequality. I’m sure it could be argued that it wasn’t only the Tax changes but when you see the hyperbolic rise in those at the top after the 1980’s it is a clear signal that the highest earners have seen a bonanza in the last 35 years.

“I am quite sure now that often, very often, in matters concerning religion and politics a man’s reasoning powers are not above the monkey’s.”~Mark Twain
“Ocean: A body of water occupying about two-thirds of a world made for man - who has no gills.”~ Ambrose Bierce
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28-03-2017, 07:17 AM
RE: Taxes
I like how here you can see just how many households in 2013 fell into different categories as per the Tax Foundation.

[Image: Bracket%20Numbers.png]

“I am quite sure now that often, very often, in matters concerning religion and politics a man’s reasoning powers are not above the monkey’s.”~Mark Twain
“Ocean: A body of water occupying about two-thirds of a world made for man - who has no gills.”~ Ambrose Bierce
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28-03-2017, 09:10 AM
RE: Taxes
I'm fine with the Canadian taxes. All told, I pay between $6K and $7K CDN per year in total income taxes, but for that I get free healthcare.

I'm sorry, but your beliefs are much too silly to take seriously. Got anything else we can discuss?
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28-03-2017, 11:52 AM
RE: Taxes
Oh and here is what Trump's proposed tax changes would look like. All things being equal (and they aren't) it would reduce federal revenue by about $900 billion annually.

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28-03-2017, 12:41 PM
RE: Taxes
(28-03-2017 11:52 AM)Popeyes Pappy Wrote:  Oh and here is what Trump's proposed tax changes would look like. All things being equal (and they aren't) it would reduce federal revenue by about $900 billion annually.

[Image: sr0yoRk.jpg]

Nice work.

Trump and his ultra rich buddies would just love to pass this reform.

“I am quite sure now that often, very often, in matters concerning religion and politics a man’s reasoning powers are not above the monkey’s.”~Mark Twain
“Ocean: A body of water occupying about two-thirds of a world made for man - who has no gills.”~ Ambrose Bierce
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28-03-2017, 03:23 PM
RE: Taxes
(25-03-2017 10:34 PM)earmuffs Wrote:  Well if the healthcare debacle is anything to go on, hopefully he'll just get rid of the tax system and be unable to get a replacement through.
At least that way without the need to pay taxes you could afford to go to the doctor.

Not with our medical costs. A few years ago, I spent an hour or two in the emergency room. Cost before the insurance kicked in was over $7000. A week in the hospital would cost more than a year's pay for me, even before taxes. Without insurance, I couldn't afford medical care at all -- and I'm middle class, not poor.
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28-03-2017, 05:59 PM
RE: Taxes
(28-03-2017 03:23 PM)Grasshopper Wrote:  
(25-03-2017 10:34 PM)earmuffs Wrote:  Well if the healthcare debacle is anything to go on, hopefully he'll just get rid of the tax system and be unable to get a replacement through.
At least that way without the need to pay taxes you could afford to go to the doctor.

Not with our medical costs. A few years ago, I spent an hour or two in the emergency room. Cost before the insurance kicked in was over $7000. A week in the hospital would cost more than a year's pay for me, even before taxes. Without insurance, I couldn't afford medical care at all -- and I'm middle class, not poor.

Yip, and that's fucked up. The idea that someone, even someone in the middle income bracket, having their life ruined simply because they accidentally fell down the stairs and broke their arm or whatever is ridiculous. Or hell, having it literally ruined because they got cancer and couldn't afford the treatment.

Healthcare is a national issue and needs to be paid for by the government.
Basic healthcare (so not including shit like plastic surgery here) should be a right of all citizens and so the government should fulfill that right. Society should pick up the tab (in the form of taxes) because it benefits everyone that everyone in society is healthy. It's much the same as education. It's a benefit to everyone that they live in a society that's educated.

When you have this whole healthcare insurance industry (which is fucking retarded), you're taking money from peoples pockets and giving it to shareholders and board members or large corporations. A LOT of money. These insurance companies do not care about healthcare, they have no interest in developing new cures for shit because than they'd have to pay for it.

A big problem with paying a company versus paying taxes is that a company needs to profitable. So you are literally just lining some rich pricks pockets. People are literally dying so some rich prick can get rich. When you pay taxes and the government pays for healthcare, you're not paying for that profit. You only pay for what healthcare is used and so it's cheaper.

I know people like to bring up the argument that it would clog the hospitals, but I'd counter that by saying isn't that a sign of where your health industry is at? That if you made healthcare affordable people would flock to it because they need it?? Isn't that indicative of how your health system is a complete failure to provide adequate level of health service to your citizens? That so many people cannot afford to get the healthcare they desperately need.

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17-04-2017, 06:13 AM
RE: Taxes
We Asked People What They Know About Taxes. See If You Know The Answers

Let me know if you find more than 1 question Huh

“I am quite sure now that often, very often, in matters concerning religion and politics a man’s reasoning powers are not above the monkey’s.”~Mark Twain
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26-04-2017, 03:50 PM (This post was last modified: 26-04-2017 04:12 PM by Full Circle.)
RE: Taxes
The Grand Unveiling of the Trump proposal, a one page memo.

“It would eliminate the seven existing income tax brackets and replace them with three brackets, containing new rates of 10 percent, 25 percent and 35 percent, based on someone’s income.”

"It would also roughly double the standard deduction that Americans can use to reduce their taxable income. The deduction for married couples would move from $12,600 to $24,000.”

“The White House is also proposing a one-time tax “holiday” to incentivize companies to bring several trillion dollars currently being held in other countries back into the United States.”

The devil will be in the details.

“I am quite sure now that often, very often, in matters concerning religion and politics a man’s reasoning powers are not above the monkey’s.”~Mark Twain
“Ocean: A body of water occupying about two-thirds of a world made for man - who has no gills.”~ Ambrose Bierce
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