Poll of the Day > If you make 120k+, 50% of your income (at least) should be taxes

(+) Yeah! (+)

Fact.
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lol

come try to take it from me.
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That is wacked, I do agree more taxes should be paid the more you make, but not that much at that level. Something like a tiered system is best.

First 20k, no taxes at all. Taxed 15% for 20k-30k, 20% for 30k-50k, 25% for 50k-75k, 30% for 75k-100k.

35% for 100k-150k, 40% for 150k+.

Flat tax, no deductions/exemptions based on net profit. No loopholes etc.

No reductions based on dependants either, and no more filing jointly either, those are the numbers straight up. No more tax advantages for married couples (so no more reason for the gov to get involved in gay marriage etc). Also all additional "taxes" like Social security etc.
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Both people who posted I have on ignore.
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wolfy42 posted...

That is wacked, I do agree more taxes should be paid the more you make, but not that much at that level. Something like a tiered system is best.

First 20k, no taxes at all. Taxed 15% for 20k-30k, 20% for 30k-50k, 25% for 50k-75k, 30% for 75k-100k.

35% for 100k-150k, 40% for 150k+.

Flat tax, no deductions/exemptions based on net profit. No loopholes etc.

No reductions based on dependants either, and no more filing jointly either, those are the numbers straight up. No more tax advantages for married couples (so no more reason for the gov to get involved in gay marriage etc). Also all additional "taxes" like Social security etc.

I don't think anyone's taxes should exceed 30% and I think even that's too much
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That is a really low bar

I agree with the concept though. In the US the tax rate beyond a million dollars used to be 100%

I think something like anything beyond 10 million of personal income gets taxed 40 percent would be fair as long as there are no loopholes
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XlaxJynx007 posted...

I don't think anyone's taxes should exceed 30% and I think even that's too much

In this tiered system, you'd have to make a pretty large amount to actually hit a 30% tax rate.

Say you make 150k

20k - 0 in taxes
20-30k - 1500 in taxes
30-50k - 4000 in taxes
50-75k - 6250 in taxes
75-100k - 7500 in taxes
100-150k - 17500 in taxes

Net total: 36,750 in taxes, or 24.5%, even though you're currently in the "35%" tax bracket.

Even bumping it up to 200k, you're still only at roughly 28%.
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Also, I quite dislike putting such a high tax amount on a random and arbitrary number (like 120k in the case of this topic).

Governments are incredibly slow to update things like this, and there's no way the number would get updated fast enough to actually reflect reality.

The only way I'd even consider something like this is if a study was done to find the perfect number based on a variety of factors, that number was then automatically indexed to inflation each year, and was subject to a review via new study every 5 years. Basically to make sure that the number makes sense, and the only people impacted by it are the people unlikely to notice it.

I still wouldn't like it though as there would also need to be concessions done on a city by city basis. 120k per year where I live is a pretty darn good living. In Vancouver that gets you a 1 bedroom condo.
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The poll results at this exact time make my birthday...

Edit: And now it's over.
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Its disgusting that poor failures of life who just take up space get huge portions of the checks of doctors and ceos who worked to get those jobs. So no...your idea is stupid.

I say tax the failures harder and leave the rich alone. Dont like it? Stop being poor
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Fuckin hard no.

Also, guess there's no reason to live in California anymore lol. You make 200k a year? Okay, we'll take half of that and you go ahead and continue to pay 48k a year for your housing lol
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I just dont get it.

I mean yes I do get it being poor and in what you percieve as "needing" must suck. And at an individual level when your poor its likely very difficult to parse in your head how you getting money from someone who has more can be a bad thing.

But come on, its simple addition. Theres so many poor and so few rich that everyone taking a piece gets tiring and eventually turns the rich person whos earned better for themselves into just another poor person. Then eventually nobody has anything to strive for besides working hard to give free money to people who dont. The greater good is always going to require that a few suffer.

Id say its more than fair then that the ones with little education...or at least not enough to realize thier own suffering isnt that important...dont really deserve to STOP suffering.
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some one who makes 100k worked their ass off for that money and you want to tax them 30% to feed bebe's kids

just think about what they're spending 100k on
property tax 10k
sales tax 10k
health insurance went from 15k->24k for a family of 3
now lump in a 12% tax on top of that
yeah not much...

this marxist society is messing everything up and the WORKING class is getting screwed by it
literally everywhere I go everyone tells me to just be a cog because we're getting screwed so bad by the gov't and the CEO's who make our salary in a few weeks

we, all of us should be taxed 8%, everyone and then the people who are billionaires should pay the 24% tax and we should enforce it with guns and jail time if they don't

Smarkil posted...

Fuckin hard no.

Also, guess there's no reason to live in California anymore lol. You make 200k a year? Okay, we'll take half of that and you go ahead and continue to pay 48k a year for your housing lol

state gov't : "you don't like it. MOVE"

RoboXgp89 posted...

Smarkil posted...

Fuckin hard no.

Also, guess there's no reason to live in California anymore lol. You make 200k a year? Okay, we'll take half of that and you go ahead and continue to pay 48k a year for your housing lol

state gov't : "you don't like it. MOVE"

That's dumb.
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that's life, basically any complaint about living conditions or homelessnous in this country will never be solved because they can just bus us 1000 miles south or 1000 miles east like we're state property
I'm not about to work 12 hours a day to pay rent

RoboXgp89 posted...

that's life, basically any complaint about living conditions or homelessnous in this country will never be solved because they can just bus us 1000 miles south or 1000 miles east like we're state property
I'm not about to work 12 hours a day to pay rent

It just stupid that someone works their asses off to live where they live. And now that they make enough to live there, you wanna tax them more now.
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RoboXgp89 posted...

that's life, basically any complaint about living conditions or homelessnous in this country will never be solved because they can just bus us 1000 miles south or 1000 miles east like we're state property
I'm not about to work 12 hours a day to pay rent

Not quite what you mean, but individual city and state tax regulations is partially to blame. Corporations will go where it's cheapest to operate.

Should one city or state say "all corporations are subject to a 25% tax on all profits. No deductions permitted", another city or state will immediately say "We want those jobs. We'll offer tax breaks if you move here and operate", with the intention that they'd make more off the workers than they would give to the corporation. And it works. The corporation makes more profit. The city makes more profit in taxes from the additional jobs. And the working class loses because more of the tax burden is placed on them.

You would need to regulate things on a global scale, or at the very least, a national scale, to see any change like that. States and cities will naturally compete against each other to get those jobs. Just look at Amazon literally putting out a request for bids from cities for their next head office. Cities are bending over backwards trying to convince Amazon to set up shop in their city.
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This is not a communist nation. Bernie lost, y'all have to move past this.
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What if the government was so small that we barely needed taxes

Depending on where you live, $120K isn't that much. Sure in some areas you can live in a mansion but in Manhattan you are basically in poverty.
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The tax rate should take in to consideration the Pareto distribution and lead to crazy taxes for the super rich, while still ensuring greater earnings means greater net income.
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Dikitain posted...

Depending on where you live, $120K isn't that much. Sure in some areas you can live in a mansion but in Manhattan you are basically in poverty.

I'm not sure why that's legal.
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LinkPizza posted...

RoboXgp89 posted...

that's life, basically any complaint about living conditions or homelessnous in this country will never be solved because they can just bus us 1000 miles south or 1000 miles east like we're state property
I'm not about to work 12 hours a day to pay rent

It just stupid that someone works their asses off to live where they live. And now that they make enough to live there, you wanna tax them more now.

No I think inflation on property and housing should be gotten rid of
if you want to work an extra day to live where you are cool but it's not an extra day we're talking about here it's an extra two weeks
look at all the shitty 1million dollar homes in the city with 25k property taxes on them to get a good idea of what capitalism has done
or the 30-60k homeless people in every city every time some land owner sitting on his ass wants to profit more off of working people

i would say just give let me make 100k then but then i still would be making 60k a year because my taxes are about 34% right now.
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what the fuck

no

what would the incentive of getting a good job be? to give half of your money to the dumbass government? yeah, theyre soooo good at managing our money.
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56% of the money we give them goes to the military
its like saying lets give the gov't 10% of our paycheck so they can start wars using proxy terrorist

DirtBasedSoap posted...

what the fuck

no

what would the incentive of getting a good job be? to give half of your money to the dumbass government? yeah, theyre soooo good at managing our money.

It's not really that different than the current system, just with a much lower threshold (obviously too low).

Right now the tax in the US on anything above 500k is at least 37%. Higher depending on whether your state has more taxes on top of that. So you're already "punished" for earning more.

I also dislike the argument, because I find it doesn't actually work that way. If I were to give you a choice of making 50k and taking home 40k of it, or making 200k and taking home 130k of it, I think we all know which one you're going to choose. You still make more than the average joe with a good job, usually significantly more. The incentive is still there. This isn't a situation where they just say "Nah, you made enough, we're keeping everything you make for the rest of the year).
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Okay but still a pretty considerable difference. $130k of $200k vs $60k of $120k is not really comparable
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DirtBasedSoap posted...

Okay but still a pretty considerable difference. $130k of $200k vs $60k of $120k is not really comparable

I believe we're in agreement that the threshold of 120k is drastically too low, but the concept isn't that flawed in general given that it's the method we currently use.

Also, it wouldn't be half of 120k, you would lose half of whatever you made above 120k.
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Guys I made this topic as a joke but Im tired of getting notifications for it. Pls stop posting.
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MrMelodramatic posted...

Guys I made this topic as a joke but Im tired of getting notifications for it. Pls stop posting.

did you ever end up breaking it off with that cheating skank that you cheated with? or is she still out there getting drilled by a half dozen guys during the day and then resting her sweet head on your pillow at night?
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I make a lot less than $120K and between federal, state, Medicare, and Social Security taxes I end up paying nearly 40% of my earnings in taxes already (and I assumed the question meant, "50% tax rate kicks in at income over $120K"), so why not?

I think a 50% bracket at $120K is a bit too soon to hit that %, but if it means stocks have to pay the same tax rate, it's still a fucking improvement over the bs system we have now.

Tax rate tiers should be like (money w/in each range is taxed at the given rate; earning $71K doesn't mean you're suddenly taking home less money than someone who makes $69K)...

Under $20K: not taxed
$20K - $30K: 10%
$30K - $50K: 15%
$50K - $70K: 20%
$70K - $100K: 30%
$100K - $150K: 40%
$150K - $250K: 50%
$250K - $500K: 60%
$500K - $1M: 70%
Anything over $1M: 80%

No deductions for kids (just a "standard deduction" like we have now), no loopholes, same rates for income and for capital gains. But all the SS, Medicare, etc... federal taxes are rolled into it.

streamofthesky posted...

$250K - $500K: 60%
$500K - $1M: 70%
Anything over $1M: 80%

just lol

this is pretty much a surefire way to ensure that all of the wealthy people leave your country along with all of their wealth
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MrMelodramatic posted...

Guys I made this topic as a joke but Im tired of getting notifications for it. Pls stop posting.

You started it, you finish it...

Troll_Police_ posted...

MrMelodramatic posted...

Guys I made this topic as a joke but Im tired of getting notifications for it. Pls stop posting.

did you ever end up breaking it off with that cheating skank that you cheated with? or is she still out there getting drilled by a half dozen guys during the day and then resting her sweet head on your pillow at night?

I think he's staying are her place, so she would go out to get drilled, then rest her head on her pillow, and he's just kinda there... if that's what happens...
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thats fair
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