08 Mar 09
3 edits
So sick of crybaby rants about how awful America is because it has rich people and poor people, like that's unique and not found anywhere else.
de derp de der de derdily derhh.
By the way your website is disturbing and very sucky. You ar not OK.
You say you're a "professional" knife fighter hahahahahahaaa ya make good money at that?
08 Mar 09
1 edit
Originally posted by Metal BrainThe tax system is based on marginal rates. You cannot worsen yourself or raise the percentage of tax paid on your already earned income by making more. It's amazing that people whio criticize the system are too lazy to even understand it.
To fall in a tax bracket that taxes them less. It all depends on how much the tax increase is and what your income level is. Some people make so little they will avoid making more to avoid paying any income tax.
I have never liked the income tax anyway. The only reason we need it is to pay for debt.
EDIT: For those who don't know what "marginal tax rates" means, here's a simple explanation:
Marginal tax rate means this is the rate at which your next dollar earned will be taxed. So it’s not retroactive to the dollars you already earned, and you can never make less money after getting a raise.
For example, if you were single and had $30,000 of taxable income, and got a $1,000 raise later to $31,000, your entire $31,000 will not be taxed at the 25% rate (a big jump from 15%!). Only the $350 above $30,650 would be taxed at the 25% rate. Your total taxes would then be:
10% x $7,550= $755 +
15% x ($30,650-$7,550) = $3,465
25% x ($31,000-$30,650) = $87.50
——————————————-
Total $4,307.50
So, if we again take the super-simple case of you being single and taking the standard deduction only, your post-raise gross income would have been $31,000 + $5,150 = $36,150. Paying $4,307.50 of tax on $31,650 of gross income is actually an overall tax rate of only 11.9%.
http://www.mymoneyblog.com/archives/2006/12/myths-about-marginal-tax-rates-explained.html
08 Mar 09
Originally posted by CombatKarambitCapitalism is a humourless bitch, eh?
the 35 million hungry american's go without a stable source of food, year after year
what we need to do is tax the rich.
I'm talking 65-80%
people making $1 million or more a year (less than 1% of americans)
to pay for the poor.
this country is so crappy.
how can the rich just go on like that?
knowing their $400,000 bently could feed a whole town for a year?
greed.
08 Mar 09
Originally posted by whodeyYou don't seriously believe that 91% of the welfare budget is wasted on bureaucracy, do you?
No kidding!! I hear that only about 9 cents on the dollar that goes to welfare programs in the US actually goes to those on welfare. Of course, all I hear from liberals is the need for more tax revenue and NEVER the need for reform. You also see the pork being thrown around disguised as a stimulus package via the tax payers. Until these guys get their act ...[text shortened]... themselves. I guess at that point we will all have to grab a pitch fork and storm the castle.
In any case, the budget for social security is very low in the US.
08 Mar 09
Originally posted by Sam The ShamThere are rich and poor people everywhere, but don't you think the most powerful country in the world should have the lowest poverty as well?
So sick of crybaby rants about how awful America is because it has rich people and poor people, like that's unique and not found anywhere else.
de derp de der de derdily derhh.
By the way your website is disturbing and very sucky. You ar not OK.
You say you're a "professional" knife fighter hahahahahahaaa ya make good money at that?
08 Mar 09
Originally posted by KazetNagorraYou tell me where the money goes.
You don't seriously believe that 91% of the welfare budget is wasted on bureaucracy, do you?
In any case, the budget for social security is very low in the US.
Now as for SS, perhaps the money is not spent on bureacracy so there is a bigger pile of money for them to loot as they see fit?
09 Mar 09
Originally posted by LundosThere are plenty of taxes, income is just one of them.
???? Are you on something?
If you live in a socialist country I'm sure it is hard to imagine paying for all of those social programs without the income tax. Before 1913 there was no income tax in the USA
When was it started in Denmark?
09 Mar 09
Originally posted by Sam The ShamThe gap between the rich and poor in the USA is greater than other countries. That is unique.
So sick of crybaby rants about how awful America is because it has rich people and poor people, like that's unique and not found anywhere else.
de derp de der de derdily derhh.
By the way your website is disturbing and very sucky. You ar not OK.
You say you're a "professional" knife fighter hahahahahahaaa ya make good money at that?
I'm sick of social darwinists who think their dung doesn't stink.
09 Mar 09
Originally posted by no1marauder30,000.00? Wow, if I only made that much.
The tax system is based on marginal rates. You cannot worsen yourself or raise the percentage of tax paid on your already earned income by making more. It's amazing that people whio criticize the system are too lazy to even understand it.
EDIT: For those who don't know what "marginal tax rates" means, here's a simple explanation:
[b]Marginal tax ra ...[text shortened]...
http://www.mymoneyblog.com/archives/2006/12/myths-about-marginal-tax-rates-explained.html
Not all of my income is earned income since my mother died. My mother left us stock shares and the capital gains took away most of my earned income credit when I sold them that year.
09 Mar 09
Originally posted by CombatKarambit"this country is so crappy.
the 35 million hungry american's go without a stable source of food, year after year
what we need to do is tax the rich.
I'm talking 65-80%
people making $1 million or more a year (less than 1% of americans)
to pay for the poor.
this country is so crappy.
how can the rich just go on like that?
knowing their $400,000 bently could feed a whole town for a year?
greed.
how can the rich just go on like that?"
I may be out of my mind, BUT maybe you should stop playing with sharp knives and cutting yourself and become self employed so you can work 18 hrs a day, become as rich as possible. It's your obligation to become richer in order to help your starving fellow man, or are you content in bringing a knife to a gun fight? We must all become as rich as possible in order to pay high taxes to support are fellow man. Are you doing this? IF not, F- off until your willing to contribute to the cause.
GRANNY.
09 Mar 09
Originally posted by Metal BrainNo really? After more than five years of studying economics, this is the first I hear of this. What do you suppose that the government do instead of income tax?
There are plenty of taxes, income is just one of them.
If you live in a socialist country I'm sure it is hard to imagine paying for all of those social programs without the income tax. Before 1913 there was no income tax in the USA.
I'm sure if you live in any country it's hard to imaging not paying income tax. That's not true. USA had it's first income tax in 1861. Its called the Revenue Act of 1861, sec. 49, ch. 45, 12 Stat. 292, 309 (Aug. 5, 1861).
When was it started in Denmark?
It started for the first time in 1848-50 because of a war with Preussian. It was made permanent in 1903.
09 Mar 09
Originally posted by whodeyI don't know much about the efficiency of US government and taxation, but I suspect it largely goes to recipients of benefits.
You tell me where the money goes.
Now as for SS, perhaps the money is not spent on bureacracy so there is a bigger pile of money for them to loot as they see fit?
09 Mar 09
Originally posted by LundosDon't they teach economics students about the welfare gains from income redistribution, you know, diminishing returns on nominal income gains and all that? Or do they suggest the disadvantages outweigh the benefits?
After more than five years of studying economics[...]