[dinopello]

I'm sure if you totalled up all the taxes I pay it would approach 50% of my gross income - and still I end up with way more than I know what to do with !

I know, I know, I should give the rest to the poor...but they never stop bugging you once you give some.

[jasonraymondson]

I make just enough to live on. I have none left over, and I don't pay taxes.

I also don't take any money from the state or federal governments. I am 100% self sustained and happy that way.

[Jotapay]

I'm always trying to rack my brain on how to pay less in taxes. I don't see why I should contribute money to a government that just uses it (my money) to pass more laws that limit my freedom.

[ReverseEngineer]

$this->bbcode_second_pass_quote('dinopello', 'I')'m sure if you totalled up all the taxes I pay it would approach 50% of my gross income - and still I end up with way more than I know what to do with !

[Byron100]

I've been tumbling this idea in my head of a tax that I'd think would raise a lot of money, without directly impacting Joe Worker. This would be a small tax (something like 1/2% give or take) on the sale of stocks, bonds, real estate, etc. Just think of the staggering dollar amounts that is traded on Wall Street each business day, and think of how much revenue would be raised by assessing this little bitty tax on the selling end of each trade. Then, income taxes and the like could be lowered in compensation, after balancing the federal budget, of course.

Any logical reason as to why this wouldn't be a good idea?

[RedStateGreen]

$this->bbcode_second_pass_quote('dinopello', 'I')'m sure if you totalled up all the taxes I pay it would approach 50% of my gross income - and still I end up with way more than I know what to do with !

[ReverseEngineer]

$this->bbcode_second_pass_quote('RedStateGreen', '')$this->bbcode_second_pass_quote('dinopello', 'I')'m sure if you totalled up all the taxes I pay it would approach 50% of my gross income - and still I end up with way more than I know what to do with !

[Maddog78]

If he's/she's Canadian, that could easily explain it.

[gollum]

It is an honor for me to pay taxes, that banksters may live better

[gandolf]

$this->bbcode_second_pass_quote('RedStateGreen', '')$this->bbcode_second_pass_quote('dinopello', 'I')'m sure if you totalled up all the taxes I pay it would approach 50% of my gross income - and still I end up with way more than I know what to do with !

[Ludi]

$this->bbcode_second_pass_quote('gandolf', 'T')ry 70% and you will be much closer.

[Dawn]

What gandolf is getting at is that almost everything that we either consume or own is taxed.

Don't forget...

dog license
property tax (even if you rent your landlord pays this and charges you more because of it)
in your electric bill
phone bill
cell phone bill
propane with the built in tax plus sales tax
cable bill

I don't think they tax us to breath yet.

[dinopello]

$this->bbcode_second_pass_quote('gandolf', '')$this->bbcode_second_pass_quote('RedStateGreen', 'H')ow much do you freaking make?? Even pushing a million bucks a year with huge property taxes I can't see paying that high a percentage. Isn't the top tax bracket for federal something like 28%??

[Tyler_JC]

Let's play this one:

Single adult earning $50,000 in income in Massachusetts owning an average home in a cheaper part of the state (let's assume the blue collar town of Fall River).

First you lose 15.3% to Social Security, Medicare, and Disability. I count your employer share as lost income because he would surely give you this amount of money in additional wages were he not taking it out of your paycheck.Or he would use it to lower his costs and thus the prices of his product (and your cost of living).

Then take out federal income taxes $5,956. And state income taxes $2416.

Total bill so far? $16,022

You are already paying 32% of your income in taxes and you haven't bought a single thing.

You live in an average house and pay the average real estate tax of $1800.

You own a cheap $10,000 car and pay the 2.5% tax on that of $250.

Tax bill so far? $18,072 and you haven't bought a single thing.

Now you spend whats left of your income to survive. You spend half of it on taxable items and half on untaxed items like food and health care.

5% sales tax on half of your remaining income is another $800.

Add it all up and you are paying $18,872 in taxes on your $50,000/year salary.

A staggering 37.74% of your middle class income.

And I'm ignoring all of the incidental taxes on electricity, gasoline, water, etc. as well as your share of corporate taxes (corporations pass that bill on to you).

I'd say 37.74% should be enough for the government, eh?

[ReverseEngineer]

$this->bbcode_second_pass_quote('Tyler_JC', 'L')et's play this one: Single adult earning $50,000 in income in Massachusetts owning an average home in a cheaper part of the state (let's assume the blue collar town of Fall River). --snip--
And I'm ignoring all of the incidental taxes on electricity, gasoline, water, etc. as well as your share of corporate taxes (corporations pass that bill on to you). I'd say 37.74% should be enough for the government, eh?

[gandolf]

$this->bbcode_second_pass_quote('dinopello', '[')
You throw in a few things that I wouldn't consider taxes. Like paying for the water you consume. Or even road tolls. Is it because it is paid to a public entity that you consider that a tax ? Roads are going private and then watch what the tolls are. Several major roads around DC will be run (not owned but operated for profit) by private companies in a decade. The state can't afford to maintain them with taxes and tolls at the rates they charge now. People in Texas will probably be paying T Boone for their water not to long from now as well. You'll be paying more, but I guess its a tax cut. Except that they will tax Boones profit !

[Tyler_JC]

My point exactly.

A middle class individual pays at least 30%-40% of his or her income in taxes before even thinking about the incidental "fees" like electricity taxes, tolls, gas taxes, etc.

My particular example was talking about a 37% rate that essentially cannot be disputed.

The only reason we aren't seeing more tax revolts is that most people aren't really aware of how much of their hard earned money is stolen by the various levels of government in the name of the "public good".

Most of country also cheats on their taxes, heavily. Honest people are turned into criminals by the tax code. The "tax gap", the difference between what people should pay and what they do, grows every year and has reached around three hundred billion dollars.

When the Feds try to raise the marginal tax rates to pay off some of this debt, they are going to spur another massive wave of tax cheats. This means less revenue for the Feds and the necessity of bigger tax hikes...People just can't pay anymore. Something is going to give.

[ReverseEngineer]

$this->bbcode_second_pass_quote('Tyler_JC', 'W')hen the Feds try to raise the marginal tax rates to pay off some of this debt, they are going to spur another massive wave of tax cheats. This means less revenue for the Feds and the necessity of bigger tax hikes...People just can't pay anymore. Something is going to give.

[Blacksmith]

Write-offs?

[dinopello]

$this->bbcode_second_pass_quote('gandolf', 'W')here I live you dont pay for water usage by the litre (Unless you use a huge amount over the average). Not to many years ago the rates you paid to the local council covered all things including water. In their cunning wisdom they seperated the Council rates and charged for the water seperatly. The year they did that they promoted the fact that Rates had fallen. Everyone was to stupid to work out that they were now paying an extra $400 in water rates. Since then (approx 6 years ago) the water has doubled to approx $800.
Also roading here is supposed to be covered by the federal and state taxes and yet road tolls (Not in the city I live in thank god) can cost travellers up to $20 per day in the likes of Sydney.These are taxes.