So thats how they paid for the cold war.

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Heres the table. :eek:
54tax.png
 
you should keep in mind that the % is the amount paid on taxable income, and the numbers given for the brackets are gross income.

the people making 200,000.01 didnt pay 182,000 in taxes.

im sure most people understand that, but just thought id point it out anyway.
 
the tax rate only applies to the income in that bracket, and the income is generally based on adjusted gross, not gross per say.
so if you made $3000, $2000 would be taxed at 20%, and $1000 would be taxed at 22%
if you made over $200k, only the income over $200k is taxed at 91%, and everything below is taxed according to its bracket
this is known as a progressive tax, aka tax bracket system or ladder tax, as oppossed to say a flat tax where everyone would pay the same percentage of their money.
i would consider a flat tax to be the most fair by the basic principle of the word, you make $10 or $10k you still pay 10%, but then everyone bitches because the $1 for someone who makes $10 is considered a heavier burden than $1000 for someone who makes 10k, because the person who made 10 only has 9 left, while the person who made 10k, still has $9000 left.

today if you made $3000, paid in no federal tax, and had a kid, you'd probably get back about $7000 of money (from people that pay taxes... just sayin)

if you get back more of a refund, than you even paid in.... there is something wrong
 
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:confused: I understood right away. Maybe you have to be ignorant to understand ignorant? :lol:

:ninja: Now who's too ignorant to be to able recognize/understand the proper usage of the word ignorant?
 
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reckedracing said:
the tax rate only applies to the income in that bracket, and the income is generally based on adjusted gross, not gross per say.
so if you made $3000, $2000 would be taxed at 20%, and $1000 would be taxed at 22%
if you made over $200k, only the income over $200k is taxed at 91%, and everything below is taxed according to its bracket
this is known as a progressive tax, aka tax bracket system or ladder tax, as oppossed to say a flat tax where everyone would pay the same percentage of their money.
i would consider a flat tax to be the most fair by the basic principle of the word, you make $10 or $10k you still pay 10%, but then everyone bitches because the $1 for someone who makes $10 is considered a heavier burden than $1000 for someone who makes 10k, because the person who made 10 only has 9 left, while the person who made 10k, still has $9000 left.

today if you made $3000, paid in no federal tax, and had a kid, you'd probably get back about $7000 of money (from people that pay taxes... just sayin)

if you get back more of a refund, than you even paid in.... there is something wrong
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Great explanation. And I agree about the refunds too.

Also as an accountant, I favor a flat tax. It's fair in ever sense of the word. Want more after tax income? Work/earn more.

The tax code needs to be throw out and started fresh. People get taxed from so many different places they have no idea where its going. My assistant manager truly believed that 90% of his NJ tax went to NJ teachers pensions (probably heard it from a Christie supporter). While he's an idiot, it shouldn't be that hard to know where your money is going.
 
most people have no clue how much they actually pay in taxes
buy gas? it has its own tax
buy liquor? also has its own tax
cigarettes? have their own tax... but its to benefit you by making you not be able to afford them
buy anything with money you already paid income tax on? yep, you pay tax again on that same money for sales tax, plus the other taxes mentioned above
value added tax, luxury tax, property tax, school tax
its absolutely nothing more than a clever shell game
ooh we won't raise INCOME taxes.... but we'll charge $5 in tax for a packs of cigarettes

i want to know what representative is in DC that actually represents me?
as there are none, i believe that taxation without representation is still the normal operating procedure for this gov't
 
Make them work for minimum wage. Then they might care about taxes imposed on us, or just raise minimum wage. lol
 
FDA makes ephedra illegal because one kid died from heart stroke while playing baseball
cigarettes kills hundreds of thousands a year... FDA says A-OK

most of the "luxury" item taxes are really just thinly disguised taxes on the poor
 
hondarin said:
I have no problem with taxes on luxury items.

ie - cigarettes
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I think its very necessary to tax. It's not a luxury good by economics stand point but a luxury in general as it isn't necessary for life. A luxury that is treated as normal good in terms of elasticity. Taxes have proven time and time again that it doesn't deter smoking from continuing, just starting.


Tax the shit out of it. Smokers, meat eaters, and fatties are such a health care pool nightmare that companies charge employees if they smoke, institute healthy programs for recognition and rewards, and employ healthy lifestyle choices for food.
 
apparently you think the gov't knows better what to do with your money than you do
I don't even smoke but i think if you're going to tax an item a certain way, then tax all items a certain way
$50 jeans or $100 shoes are a luxury, you don't see them getting an additional 50% value added tax
 
reckedracing said:
apparently you think the gov't knows better what to do with your money than you do
I don't even smoke but i think if you're going to tax an item a certain way, then tax all items a certain way
$50 jeans or $100 shoes are a luxury, you don't see them getting an additional 50% value added tax
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They might as well.


Except expensive jeans, etc are an elastic luxury good. As a person's income goes up you spend more money on higher priced things. This generates more tax revenue. Percentage stays the same.


As a person's income goes up on cigarettes, cigarettes stay the same price. You don't get an increased revenue. The only way to increase revenue on the sin item, as demand is solid, is increase the tax on it.


I think alcohol should be taxed similarly and I drink like a fish.
 
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